Delaware
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34-1096634
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(State or other jurisdiction of
incorporation or organization)
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(I.R.S. Employer
Identification No.)
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4500 Dorr Street, Toledo, Ohio
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43615
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(Address of principal executive offices)
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(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, $1.00 par value
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New York Stock Exchange
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6.50% Series I Cumulative
Convertible Perpetual Preferred Stock, $1.00 par value
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New York Stock Exchange
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4.800% Notes due 2028
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New York Stock Exchange
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4.500% Notes due 2034
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New York Stock Exchange
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Large accelerated filer
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þ
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Accelerated filer
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¨
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Non-accelerated filer
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¨
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Smaller reporting company
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¨
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Emerging growth company
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¨
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(Do not check if a smaller reporting company)
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Page
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PART I
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Item 1.
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Business
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Item 1A.
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Risk Factors
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Item 1B.
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Unresolved Staff Comments
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Item 2.
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Properties
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Item 3.
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Legal Proceedings
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Item 4.
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Mine Safety Disclosures
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PART II
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Item 5.
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Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
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Item 6.
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Selected Financial Data
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Item 7.
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Management’s Discussion and Analysis of Financial Condition and Results of Operations
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Item 7A.
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Quantitative and Qualitative Disclosures About Market Risk
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Item 8.
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Financial Statements and Supplementary Data
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Item 9.
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Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
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Item 9A.
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Controls and Procedures
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Item 9B.
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Other Information
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PART III
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Item 10.
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Directors, Executive Officers and Corporate Governance
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Item 11.
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Executive Compensation
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Item 12.
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Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
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Item 13.
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Certain Relationships and Related Transactions and Director Independence
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Item 14.
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Principal Accounting Fees and Services
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PART IV
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Item 15.
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Exhibits and Financial Statement Schedules
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Item 16.
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Form 10-K Summary
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Signature
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Year(1)
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Total energy consumption in control boundary(2)
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Control boundary energy use intensity (EUI)
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Like-for-like change in energy consumption within control boundary(3)
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Percent renewable energy consumed within control boundary(4)
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2017
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375,059 MWh
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24.35 kWh/sq ft
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(1)%
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7.25%
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2016
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360,165 MWh
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22.82 kWh/sq ft
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n/a
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n/a
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2015
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350,342 MWh
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21.49 kWh/sq ft
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n/a
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n/a
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Year(1)
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Control Boundary Water consumption(2)
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Water use intensity (WUI)
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Like-for-like change in water consumption within control boundary(3)
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2017
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319,045 kgal
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24.0 gal/sq ft
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(6.23)%
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2016
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337,081 kgal
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26.4 gal/sq ft
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7.01%
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2015
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319,630 kgal
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25.0 gal/sq ft
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n/a
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•
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The specialized nature of the industry, which enhances the credibility and experience of the company;
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The projected population growth combined with stable or increasing health care utilization rates, which ensures demand; and
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The on-going merger and acquisition activity.
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Seniors Housing Facilities The majority of the revenues received by the operators of U.S. seniors housing facilities are from private pay sources. The remaining revenue source is primarily Medicaid provided under state waiver programs for home and community based care. There can be no guarantee that a state Medicaid program operating pursuant to a waiver will be able to maintain its waiver status. Rates paid by self-pay residents are set by the facilities and are determined by local market conditions and operating costs. Generally, facilities receive a higher payment per day for a private pay resident than for a Medicaid beneficiary who requires a comparable level of care. The level of Medicaid reimbursement varies from state to state. Thus, the revenues generated by operators of our assisted living facilities may be adversely affected by payor mix, acuity level, changes in Medicaid eligibility and reimbursement levels.
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Long-Term/Post-Acute Care Facilities The majority of the revenues received by the operators of these facilities are from the Medicare and Medicaid programs, with the balance representing reimbursement payments from private payors. Consequently, changes in federal or state reimbursement policies may adversely affect an operator’s ability to cover its expenses, including our rent or debt service. Long-term/post-acute care facilities are subject to periodic pre- and post-payment reviews, and other audits by federal and state authorities. A review or audit of a property operator’s claims could result in recoupments, denials, or delay of payments in the future. Due to the significant judgments and estimates inherent in payor settlement accounting, no assurance can be given as to the adequacy of any reserves maintained by our property operators to cover potential adjustments to reimbursements, or to cover settlements made to payors.
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◦
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Medicare Reimbursement Generally, long-term/post-acute care facilities are reimbursed by Medicare under prospective payment systems, which generally provide reimbursement based upon a predetermined fixed amount per episode of care and are updated by CMS, an agency of the Department of Health and Human Services (“HHS”) annually. There is a risk under these payment systems that costs will exceed the fixed payments, or that payments may be set below the costs to provide certain items and services. In addition, the HHS Office of Inspector General has released recommendations to address SNF billing practices and Medicare payment rates. If followed, these recommendations regarding SNF payment reform may impact our tenants and operators.
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Medicaid Reimbursement Many states reimburse SNFs using fixed daily rates, which are applied prospectively based on patient acuity and the historical costs incurred in providing patient care. In most states, Medicaid does not fully reimburse the cost of providing services. Certain states are attempting to slow the rate of Medicaid growth by freezing rates or restricting eligibility and benefits. In addition, Medicaid reimbursement rates may decline if state revenues in a particular state are not sufficient to fund budgeted expenditures.
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Medicare Reimbursement for Physicians, Hospital Outpatient Departments (“HOPDs”), and Ambulatory Surgical Centers (“ASCs”) Changes in reimbursement to physicians, HOPDs and ASCs may further affect our tenants and operators. Generally, Medicare reimburses physicians under the Physician Fee Schedule, while HOPDs and ASCs are reimbursed under prospective payment systems. The Physician Fee Schedule and the HOPD and ASC prospective payment systems are updated annually by CMS. These annual Medicare payment regulations have resulted in lower net pay increases than providers of those services have often expected. In addition, the Medicare and Children’s Health Insurance Program Reauthorization Act of 2015 (“MACRA”) includes payment reductions for providers who do not meet government quality standards. The implementation of pay-for-quality models like those required under MACRA is expected to produce funding disparities that could adversely impact some provider tenants in outpatient medical buildings and other health care properties. Changes in Medicare Advantage plan payments may also indirectly affect our operators and tenants that contract with Medicare Advantage plans.
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Health Reform Laws The Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010 (collectively, the “Health Reform Laws”) dramatically altered how health care is delivered and reimbursed in the U.S. and contained various provisions, including Medicaid expansion and the establishment of Health Insurance Exchanges (“HIEs”) providing subsidized health insurance, that may directly impact us or the operators and tenants of our properties. Since taking office, President Trump and the current U.S. Congress have sought to modify, repeal, or otherwise invalidate all or
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Retirement Homes (also called independent living) are designed for older adults able to live on their own, and may offer various lifestyle amenities. These residences may be rented, privately owned, or life-leased, and may be operated for profit or non-profit. Support services are not usually offered, but can be arranged by residents. Retirement homes do not generally receive government funding; residents pay for tenancy and services received. Rental subsidies may be available to qualified seniors. Independent living residences are subject to provincial tenancy and housing laws.
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Supportive Living (also called assisted living) provides home-like accommodation for residents who wish or need to access care, assistance, and services. Operators provide at least one meal a day and/or housekeeping services. There are four levels of supportive living, addressing care needs from basic to advanced. In addition, there are two specialized designations of supportive care to address the needs of residents who require the highest level of care including for those who have cognitive impairments. Supportive living can include senior lodges, group homes, and mental health and designated supportive living accommodations, which can be operated by private for-profit or not-for-profit, or public operators. Supportive living services are licensed and regulated under provincial laws, and governed by the Ministry of Health. Operators receiving public funds for health and personal care services must also comply with additional provincial legislation, and are subject to legislated safeguards aimed at investigation of suspected abuse. The maximum accommodation fee in publicly-funded designated supportive living is regulated by Alberta Health. In other supportive living settings, the operator sets the cost of accommodation. Health services are publicly-funded and provided through Alberta Health Services. Private sector operators are eligible to apply for government funding under a government capital grant program that provides funding to develop long-term care and affordable supportive living spaces.
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Nursing Homes (also called long-term care) are for residents who have complex, unpredictable medical needs and who require 24-hour on-site registered nurse assessment or treatment. Nursing homes are regulated by provincial laws, and governed by the Ministry of Health. Operators are not licensed, but enter into agreements with the Ministry for the operation of nursing homes and must comply with certain accommodation standards. Homes can be operated by private for-profit or not-for-profit, or public operators. Operators that receive public funds for health and personal care services must also comply with certain health service standards and legislation aimed at protecting residents. Alberta Health regulates the maximum accommodation fee in publicly-funded nursing homes. Health services in long-term care are publicly-funded, provided through Alberta Health Services. Private sector operators are eligible to apply for government funding, and the Minister may make grants to an operator in respect of its operating or capital costs.
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Health establishments are required to adopt an “Anti-Maltreatment Policy”, providing notably for the measures put in place to prevent maltreatment of persons in vulnerable situations;
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The policy adopted by health establishments will notably have to include the required adaptation for the implementation of the policy in private sector residences; and
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Operators of private seniors’ residences will be required to apply the policy adopted by the integrated health and social services center in their territory, as well as ensure that the policy is known by residents, their family members and their employees.
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To the extent that we do not distribute all of our net capital gain or distribute at least 90%, but less than 100%, of our “REIT taxable income,” as adjusted, we will be subject to tax on the undistributed amount at regular corporate tax rates;
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If we have net income from the sale or other disposition of “foreclosure property” that is held primarily for sale to customers in the ordinary course of business or other non-qualifying income from foreclosure property, such income will be taxed at the highest corporate rate;
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Any net income from prohibited transactions (which are, in general, sales or other dispositions of property held primarily for sale to customers in the ordinary course of business, other than dispositions of foreclosure property) will be subject to a 100% tax;
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If we fail to satisfy either the 75% or 95% gross income tests (as discussed below), but nonetheless maintain our qualification as a REIT because certain other requirements are met, we will be subject to a 100% tax on an amount equal to (1) the gross income attributable to the greater of (i) 75% of our gross income over the amount of qualifying gross income for purposes
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If we fail to distribute during each year at least the sum of (1) 85% of our REIT ordinary income for the year, (2) 95% of our REIT capital gain net income for such year (other than capital gain that we elect to retain and pay tax on) and (3) any undistributed taxable income from preceding periods, we will be subject to a 4% excise tax on the excess of such required distribution over amounts actually distributed; and
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We will be subject to a 100% tax on certain amounts from certain transactions involving our “taxable REIT subsidiaries” that are not conducted on an arm’s length basis. See “Qualification as a REIT - Investments in Taxable REIT Subsidiaries.
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(1)
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which is managed by one or more trustees or directors;
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(2)
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the beneficial ownership of which is evidenced by transferable shares or by transferable certificates of beneficial interest;
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(3)
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which would be taxable as a domestic corporation but for the U.S. federal income tax law relating to REITs;
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(4)
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which is neither a financial institution nor an insurance company;
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(5)
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the beneficial ownership of which is held by 100 or more persons in each taxable year of the REIT except for its first
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(6)
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not more than 50% in value of the outstanding stock of which is owned during the last half of each taxable year, excluding
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(7)
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which meets certain income and asset tests described below.
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At least 75% of our gross income (excluding gross income from certain sales of property held primarily for sale) generally must be directly or indirectly derived each taxable year from “rents from real property,” other income from investments relating to real property or mortgages on real property or certain income from qualified temporary investments.
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At least 95% of our gross income (excluding gross income from certain sales of property held primarily for sale) generally must be directly or indirectly derived each taxable year from any of the sources qualifying for the 75% gross income test and from dividends (including dividends from taxable REIT subsidiaries) and interest.
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The amount of rent must not be based in whole or in part on the income or profits of any person, although rents generally will not be excluded merely because they are based on a fixed percentage or percentages of receipts or sales.
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Rents received from a tenant will not qualify as rents from real property if the REIT, or an owner of 10% or more of the REIT, also directly or constructively owns 10% or more of the tenant, unless the tenant is our taxable REIT subsidiary and certain other requirements are met with respect to the real property being rented.
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If rent attributable to personal property leased in connection with a lease of real property is greater than 15% of the total rent received under the lease, then the portion of rent attributable to such personal property will not qualify as “rents from real property.”
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For rents to qualify as rents from real property, we generally must not furnish or render services to tenants, other than through a taxable REIT subsidiary or an “independent contractor” from whom we derive no income, except that we may directly provide services that are usually or customarily rendered in the geographic area in which the property is located in connection with the rental of real property for occupancy only or are not otherwise considered rendered to the occupant for his convenience.
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We may lease “qualified health care properties” on an arm’s-length basis to a taxable REIT subsidiary if the property is operated on behalf of such subsidiary by a person who qualifies as an “independent contractor” and who is, or is related to a person who is, actively engaged in the trade or business of operating health care facilities for any person unrelated to us or our taxable REIT subsidiary (such person, an “eligible independent contractor”). If this is the case, the rent that the REIT receives from the taxable REIT subsidiary generally will be treated as “rents from real property.” A “qualified health care property” includes any real property and any personal property that is, or is necessary or incidental to the use of, a hospital, nursing facility, assisted living facility, congregate care facility, qualified continuing care facility, or other licensed facility that extends medical or nursing or ancillary services to patients and is operated by a provider of such services that is eligible for participation in the Medicare program with respect to such facility.
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a citizen or resident of the United States;
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a corporation, partnership or other entity classified as a corporation or partnership for these purposes, created or organize in or under the laws of the United States or of any political subdivision of the United States, including any state;
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an estate, the income of which is subject to U.S. federal income taxation regardless of its source; or
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a trust, if, in general, a U.S. court is able to exercise primary supervision over the trust’s administration and one or more U.S. persons, within the meaning of the Internal Revenue Code, has the authority to control all of the trust’s substantial decisions.
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a citizen or resident of the United States;
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a corporation, partnership or other entity classified as a corporation or partnership for these purposes, created or organized in or under the laws of the United States or of any political subdivision of the United States, including any state;
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an estate, the income of which is subject to U.S. federal income taxation regardless of its source; or
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a trust, if, in general, a U.S. court is able to exercise primary supervision over the trust’s administration and one or more U.S. persons, within the meaning of the Internal Revenue Code, has the authority to control all of the trust’s substantial decisions.
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the amount realized on the sale or other disposition, less any amount attributable to any accrued interest, which will be taxable in the manner described under “Payments of Interest” above; and
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your adjusted tax basis in the notes.
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you do not, directly or indirectly, actually or constructively, own 10% or more of the total combined voting power of all classes of our stock entitled to vote;
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you are not (1) a controlled foreign corporation for U.S. federal income tax purposes that is related, directly or indirectly, to us through sufficient stock ownership, as provided in the Internal Revenue Code, or (2) a bank receiving interest described in Section 881(c)(3)(A) of the Internal Revenue Code;
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such interest is not effectively connected with your conduct of a U.S. trade or business; and
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you provide a signed written statement, under penalties of perjury, which can reliably be related to you, certifying that you are not a U.S. person within the meaning of the Internal Revenue Code and providing your name and address to us or our paying agent; or
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a securities clearing organization, bank or other financial institution that holds customers’ securities in the ordinary course of its trade or business and holds your notes on your behalf and that certifies to us or our paying agent under penalties of perjury that it, or the bank or financial institution between it and you, has received from you your signed, written statement and provides us or our paying agent with a copy of such statement.
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if you are a foreign partnership, the certification requirement will generally apply to your partners, and you will be required to provide certain information;
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if you are a foreign trust, the certification requirement will generally be applied to you or your beneficial owners depending on whether you are a “foreign complex trust,” “foreign simple trust,” or “foreign grantor trust” as defined in the Treasury regulations; and
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look-through rules will apply for tiered partnerships, foreign simple trusts and foreign grantor trusts.
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in the case of gain, you are an individual who is present in the United States for 183 days or more during the taxable year of the sale or other disposition of your notes, and specific other conditions are met;
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you are subject to tax provisions applicable to certain United States expatriates; or
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the gain is effectively connected with your conduct of a U.S. trade or business.
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is a U.S. person, as defined in the Internal Revenue Code;
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derives 50% or more of its gross income in specific periods from the conduct of a trade or business in the United States;
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is a “controlled foreign corporation” for U.S. federal income tax purposes; or
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is a foreign partnership, if at any time during its tax year, one or more of its partners are U.S. persons who in the aggregate hold more than 50% of the income or capital interests in the partnership, or the foreign partnership is engaged in a U.S. trade or business, unless the broker has documentary evidence in its files that you are a non-U.S. person and certain other conditions are met or you otherwise establish an exemption. If you receive payments of the proceeds of a sale of your notes to or through a U.S. office of a broker, the payment is subject to both U.S. backup withholding and information reporting unless you provide a Form W-8BEN certifying that you are a non-U.S. person or you otherwise establish an exemption.
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the status of the economy;
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the status of capital markets, including availability and cost of capital;
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issues facing the health care industry, including compliance with, and changes to, regulations and payment policies, responding to government investigations and punitive settlements and operators’/tenants’ difficulty in cost-effectively obtaining and maintaining adequate liability and other insurance;
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changes in financing terms;
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competition within the health care and seniors housing industries;
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negative developments in the operating results or financial condition of operators/tenants, including, but not limited to, their ability to pay rent and repay loans;
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our ability to transition or sell properties with profitable results;
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the failure to make new investments or acquisitions as and when anticipated;
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natural disasters and other acts of God affecting our properties;
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our ability to re-lease space at similar rates as vacancies occur;
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our ability to timely reinvest sale proceeds at similar rates to assets sold;
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operator/tenant or joint venture partner bankruptcies or insolvencies;
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the cooperation of joint venture partners;
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government regulations affecting Medicare and Medicaid reimbursement rates and operational requirements;
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liability or contract claims by or against operators/tenants;
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unanticipated difficulties and/or expenditures relating to future investments or acquisitions;
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environmental laws affecting our properties;
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changes in rules or practices governing our financial reporting;
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the movement of U.S. and foreign currency exchange rates;
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our ability to maintain our qualification as a REIT;
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key management personnel recruitment and retention; and
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the risks described under “Item 1A — Risk Factors.”
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Risks arising from our business;
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Risks arising from our capital structure; and
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Risks arising from our status as a REIT.
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we would not be allowed a deduction for distributions to stockholders in computing our taxable income and would be subject to U.S. federal income tax at regular corporate rates;
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we could be subject to possibly increased state and local taxes; and
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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.
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Seniors Housing Operating
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Triple-net
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Outpatient Medical
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Property Location
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Number of Properties
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Total Investment
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Annualized Revenues(1)
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Number of Properties
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Total Investment
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Annualized Revenues(1)
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Number of Properties
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Total Investment
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Annualized Revenues(1)
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|||||||||||||||
Alaska
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—
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$
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—
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$
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—
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—
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$
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—
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$
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—
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2
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$
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28,820
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$
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3,628
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Alabama
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—
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—
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—
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4
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33,434
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3,356
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7
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80,968
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7,782
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Arkansas
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—
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—
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—
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—
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—
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—
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1
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22,949
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2,228
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Arizona
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3
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52,715
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20,712
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3
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34,957
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2,192
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4
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61,618
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8,539
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California
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84
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2,762,952
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715,203
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16
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390,915
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40,140
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34
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877,181
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89,356
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Colorado
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4
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114,217
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32,053
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13
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331,738
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29,536
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2
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31,643
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5,947
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Connecticut
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18
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443,781
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148,458
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13
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145,985
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16,087
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1
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41,820
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4,746
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District Of Columbia
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1
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61,763
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14,680
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—
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—
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—
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—
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—
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—
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Delaware
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4
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85,736
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28,372
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6
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101,096
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16,269
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—
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19,687
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340
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Florida
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11
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820,940
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138,385
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51
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580,495
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54,033
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38
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465,835
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54,695
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Georgia
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6
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110,534
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29,961
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6
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59,190
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6,874
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10
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164,211
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27,547
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Iowa
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1
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31,059
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11,937
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10
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105,633
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10,551
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1
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6,435
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1,438
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Idaho
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—
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—
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—
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|
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1
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4,096
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1,098
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—
|
|
—
|
|
—
|
|
||||||
Illinois
|
|
14
|
|
428,803
|
|
113,909
|
|
|
27
|
|
399,815
|
|
35,118
|
|
|
7
|
|
106,276
|
|
10,514
|
|
||||||
Indiana
|
|
—
|
|
—
|
|
—
|
|
|
30
|
|
385,372
|
|
41,623
|
|
|
9
|
|
156,095
|
|
19,261
|
|
||||||
Kansas
|
|
2
|
|
29,458
|
|
10,668
|
|
|
28
|
|
300,665
|
|
28,286
|
|
|
5
|
|
61,037
|
|
13,562
|
|
||||||
Kentucky
|
|
2
|
|
37,556
|
|
14,754
|
|
|
7
|
|
59,124
|
|
13,121
|
|
|
1
|
|
6,872
|
|
797
|
|
||||||
Louisiana
|
|
2
|
|
48,893
|
|
11,173
|
|
|
3
|
|
18,177
|
|
2,717
|
|
|
—
|
|
—
|
|
—
|
|
||||||
Massachusetts
|
|
40
|
|
1,103,287
|
|
261,207
|
|
|
18
|
|
152,967
|
|
13,766
|
|
|
—
|
|
—
|
|
—
|
|
||||||
Maryland
|
|
6
|
|
250,315
|
|
74,605
|
|
|
24
|
|
306,394
|
|
17,290
|
|
|
6
|
|
175,587
|
|
18,271
|
|
||||||
Maine
|
|
2
|
|
48,130
|
|
19,155
|
|
|
—
|
|
—
|
|
—
|
|
|
1
|
|
18,293
|
|
2,404
|
|
||||||
Michigan
|
|
5
|
|
105,899
|
|
23,987
|
|
|
24
|
|
281,423
|
|
30,649
|
|
|
2
|
|
29,874
|
|
6,221
|
|
||||||
Minnesota
|
|
4
|
|
108,830
|
|
21,491
|
|
|
10
|
|
218,152
|
|
18,909
|
|
|
8
|
|
159,033
|
|
30,553
|
|
||||||
Missouri
|
|
5
|
|
142,202
|
|
23,278
|
|
|
1
|
|
12,376
|
|
968
|
|
|
8
|
|
137,216
|
|
19,352
|
|
||||||
Mississippi
|
|
—
|
|
—
|
|
—
|
|
|
3
|
|
25,835
|
|
1,057
|
|
|
—
|
|
—
|
|
—
|
|
||||||
Montana
|
|
1
|
|
5,710
|
|
4,302
|
|
|
1
|
|
6,281
|
|
752
|
|
|
—
|
|
—
|
|
—
|
|
||||||
North Carolina
|
|
2
|
|
119,188
|
|
20,243
|
|
|
50
|
|
362,777
|
|
60,081
|
|
|
11
|
|
103,708
|
|
8,906
|
|
||||||
Nebraska
|
|
—
|
|
—
|
|
—
|
|
|
4
|
|
30,897
|
|
4,067
|
|
|
2
|
|
32,719
|
|
5,310
|
|
||||||
New Hampshire
|
|
4
|
|
114,495
|
|
32,511
|
|
|
4
|
|
49,700
|
|
4,136
|
|
|
1
|
|
12,705
|
|
1,770
|
|
||||||
New Jersey
|
|
26
|
|
693,703
|
|
201,450
|
|
|
46
|
|
815,490
|
|
60,776
|
|
|
9
|
|
268,927
|
|
43,281
|
|
||||||
New Mexico
|
|
1
|
|
17,772
|
|
1,793
|
|
|
—
|
|
—
|
|
—
|
|
|
3
|
|
30,344
|
|
3,796
|
|
||||||
Nevada
|
|
2
|
|
35,225
|
|
11,279
|
|
|
3
|
|
32,315
|
|
4,309
|
|
|
5
|
|
42,113
|
|
3,263
|
|
||||||
New York
|
|
12
|
|
428,241
|
|
111,700
|
|
|
4
|
|
42,201
|
|
5,795
|
|
|
9
|
|
162,066
|
|
10,114
|
|
||||||
Ohio
|
|
6
|
|
299,653
|
|
41,009
|
|
|
42
|
|
363,009
|
|
34,429
|
|
|
5
|
|
49,245
|
|
8,985
|
|
||||||
Oklahoma
|
|
2
|
|
38,951
|
|
2,576
|
|
|
21
|
|
208,973
|
|
20,907
|
|
|
2
|
|
22,695
|
|
3,591
|
|
||||||
Oregon
|
|
—
|
|
—
|
|
—
|
|
|
1
|
|
2,914
|
|
804
|
|
|
1
|
|
9,330
|
|
1,562
|
|
||||||
Pennsylvania
|
|
9
|
|
155,558
|
|
61,400
|
|
|
77
|
|
1,012,532
|
|
99,319
|
|
|
1
|
|
35,687
|
|
1,386
|
|
||||||
Rhode Island
|
|
3
|
|
59,381
|
|
20,945
|
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
||||||
South Carolina
|
|
2
|
|
7,101
|
|
10,190
|
|
|
8
|
|
49,243
|
|
4,889
|
|
|
1
|
|
23,837
|
|
2,364
|
|
||||||
Tennessee
|
|
2
|
|
48,089
|
|
15,482
|
|
|
4
|
|
38,684
|
|
4,536
|
|
|
6
|
|
62,239
|
|
10,622
|
|
||||||
Texas
|
|
28
|
|
820,461
|
|
192,066
|
|
|
41
|
|
483,016
|
|
55,358
|
|
|
62
|
|
973,590
|
|
101,286
|
|
||||||
Utah
|
|
2
|
|
20,765
|
|
12,356
|
|
|
2
|
|
26,538
|
|
2,775
|
|
|
—
|
|
—
|
|
—
|
|
||||||
Virginia
|
|
5
|
|
243,676
|
|
60,168
|
|
|
28
|
|
299,224
|
|
34,530
|
|
|
4
|
|
58,476
|
|
6,337
|
|
||||||
Vermont
|
|
1
|
|
25,536
|
|
7,160
|
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
||||||
Washington
|
|
14
|
|
474,394
|
|
90,927
|
|
|
14
|
|
195,075
|
|
21,038
|
|
|
9
|
|
225,029
|
|
23,975
|
|
||||||
Wisconsin
|
|
—
|
|
—
|
|
—
|
|
|
7
|
|
105,832
|
|
11,694
|
|
|
2
|
|
29,513
|
|
2,197
|
|
||||||
West Virginia
|
|
—
|
|
—
|
|
—
|
|
|
4
|
|
65,116
|
|
8,866
|
|
|
—
|
|
—
|
|
—
|
|
||||||
Total domestic
|
|
336
|
|
10,394,969
|
|
2,611,545
|
|
|
659
|
|
8,137,656
|
|
822,701
|
|
|
280
|
|
4,793,673
|
|
565,926
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Canada
|
|
110
|
|
2,101,067
|
|
451,347
|
|
|
6
|
|
143,362
|
|
9,944
|
|
|
—
|
|
—
|
|
—
|
|
||||||
United Kingdom
|
|
54
|
|
1,475,141
|
|
321,623
|
|
|
61
|
|
1,111,086
|
|
113,498
|
|
|
4
|
|
263,815
|
|
24,742
|
|
||||||
Total international
|
|
164
|
|
3,576,208
|
|
772,970
|
|
|
67
|
|
1,254,448
|
|
123,442
|
|
|
4
|
|
263,815
|
|
24,742
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Grand total
|
|
500
|
|
$
|
13,971,177
|
|
$
|
3,384,515
|
|
|
726
|
|
$
|
9,392,104
|
|
$
|
946,143
|
|
|
284
|
|
$
|
5,057,488
|
|
$
|
590,668
|
|
|
|
Occupancy(1)
|
|
Coverages(1,2)
|
|
Average Annualized Revenues(3)
|
|
|
||||||||||
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
|
||||
Seniors Housing Operating(4)
|
|
87.5%
|
|
86.5%
|
|
n/a
|
|
n/a
|
|
$
|
60,635
|
|
|
$
|
60,828
|
|
|
per unit
|
Triple-net(5)
|
|
84.9%
|
|
85.8%
|
|
1.39x
|
|
1.34x
|
|
12,831
|
|
|
15,663
|
|
|
per bed/unit
|
||
Outpatient Medical(6)
|
|
93.1%
|
|
93.7%
|
|
n/a
|
|
n/a
|
|
34
|
|
|
33
|
|
|
per sq. ft.
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expiration Year(1)
|
||||||||||||||||||||||||||||||||||||||||||
|
|
2019
|
|
2020
|
|
2021
|
|
2022
|
|
2023
|
|
2024
|
|
2025
|
|
2026
|
|
2027
|
|
2028
|
|
Thereafter
|
||||||||||||||||||||||
Triple-net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||
Properties
|
|
67
|
|
|
—
|
|
|
8
|
|
|
12
|
|
|
—
|
|
|
4
|
|
|
55
|
|
|
95
|
|
|
19
|
|
|
33
|
|
|
410
|
|
|||||||||||
Base rent(2)
|
|
$
|
58,718
|
|
|
$
|
—
|
|
|
$
|
13,691
|
|
|
$
|
8,272
|
|
|
$
|
—
|
|
|
$
|
11,096
|
|
|
$
|
62,108
|
|
|
$
|
123,694
|
|
|
$
|
35,006
|
|
|
$
|
49,075
|
|
|
$
|
452,444
|
|
% of base rent
|
|
7.2
|
%
|
|
—
|
%
|
|
1.7
|
%
|
|
1.0
|
%
|
|
—
|
%
|
|
1.4
|
%
|
|
7.6
|
%
|
|
15.2
|
%
|
|
4.3
|
%
|
|
6.0
|
%
|
|
55.6
|
%
|
|||||||||||
Units
|
|
8,401
|
|
|
—
|
|
|
1,416
|
|
|
1,245
|
|
|
—
|
|
|
692
|
|
|
4,140
|
|
|
7,717
|
|
|
2,401
|
|
|
2,840
|
|
|
43,019
|
|
|||||||||||
% of units
|
|
11.7
|
%
|
|
—
|
%
|
|
2.0
|
%
|
|
1.7
|
%
|
|
—
|
%
|
|
1.0
|
%
|
|
5.8
|
%
|
|
10.7
|
%
|
|
3.3
|
%
|
|
4.0
|
%
|
|
59.9
|
%
|
|||||||||||
Outpatient Medical:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Square feet
|
|
1,232,245
|
|
|
1,346,567
|
|
|
1,630,750
|
|
|
1,769,937
|
|
|
1,398,798
|
|
|
1,404,470
|
|
|
834,530
|
|
|
1,327,844
|
|
|
579,397
|
|
|
763,969
|
|
|
4,660,901
|
|
|||||||||||
Base rent(2)
|
|
$
|
34,810
|
|
|
$
|
38,060
|
|
|
$
|
45,882
|
|
|
$
|
47,951
|
|
|
$
|
38,075
|
|
|
$
|
41,464
|
|
|
$
|
22,411
|
|
|
$
|
33,712
|
|
|
$
|
14,550
|
|
|
$
|
20,441
|
|
|
$
|
95,301
|
|
% of base rent
|
|
8.0
|
%
|
|
8.8
|
%
|
|
10.6
|
%
|
|
11.1
|
%
|
|
8.8
|
%
|
|
9.6
|
%
|
|
5.2
|
%
|
|
7.8
|
%
|
|
3.4
|
%
|
|
4.7
|
%
|
|
22.0
|
%
|
|||||||||||
Leases
|
|
350
|
|
|
332
|
|
|
323
|
|
|
313
|
|
|
312
|
|
|
181
|
|
|
134
|
|
|
154
|
|
|
86
|
|
|
88
|
|
|
171
|
|
|||||||||||
% of leases
|
|
14.3
|
%
|
|
13.6
|
%
|
|
13.2
|
%
|
|
12.8
|
%
|
|
12.8
|
%
|
|
7.4
|
%
|
|
5.5
|
%
|
|
6.3
|
%
|
|
3.5
|
%
|
|
3.6
|
%
|
|
7.0
|
%
|
|
|
12/31/2013
|
|
|
12/31/2014
|
|
|
12/31/2015
|
|
|
12/31/2016
|
|
|
12/31/2017
|
|
|
12/31/2018
|
|
||||||
S & P 500
|
|
$
|
100.00
|
|
|
$
|
113.69
|
|
|
$
|
115.26
|
|
|
$
|
129.05
|
|
|
$
|
157.22
|
|
|
$
|
150.33
|
|
Welltower Inc.
|
|
100.00
|
|
|
148.51
|
|
|
140.01
|
|
|
144.73
|
|
|
145.02
|
|
|
167.21
|
|
||||||
FTSE NAREIT Equity
|
|
100.00
|
|
|
130.14
|
|
|
134.30
|
|
|
145.74
|
|
|
153.36
|
|
|
146.27
|
|
Issuer Purchases of Equity Securities
|
|||||||||||
Period
|
|
Total Number of Shares Purchased(1)
|
|
Average Price Paid Per Share
|
|
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs(2)
|
|
Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs
|
|||
October 1, 2018 through October 31, 2018
|
|
1,739
|
|
|
$
|
62.01
|
|
|
|
|
|
November 1, 2018 through November 30, 2018
|
|
416
|
|
|
69.17
|
|
|
|
|
|
|
December 1, 2018 through December 31, 2018
|
|
—
|
|
|
—
|
|
|
|
|
|
|
Totals
|
|
2,155
|
|
|
$
|
63.39
|
|
|
|
|
|
|
|
Year Ended December 31,
|
||||||||||||||||||
|
|
2014
|
|
2015
|
|
2016
|
|
2017
|
|
2018
|
||||||||||
Operating Data
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Total revenues
|
|
$
|
3,343,546
|
|
|
$
|
3,859,826
|
|
|
$
|
4,281,160
|
|
|
$
|
4,316,641
|
|
|
$
|
4,700,499
|
|
Total expenses
|
|
2,959,333
|
|
|
3,223,709
|
|
|
3,571,907
|
|
|
4,017,025
|
|
|
4,277,009
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Income from continuing operations before income taxes and other items
|
|
384,213
|
|
|
636,117
|
|
|
709,253
|
|
|
299,616
|
|
|
423,490
|
|
|||||
Income tax (expense) benefit
|
|
1,267
|
|
|
(6,451
|
)
|
|
19,128
|
|
|
(20,128
|
)
|
|
(8,674
|
)
|
|||||
Income (loss) from unconsolidated entities
|
|
(27,426
|
)
|
|
(21,504
|
)
|
|
(10,357
|
)
|
|
(83,125
|
)
|
|
(641
|
)
|
|||||
Gain (loss) on real estate dispositions, net
|
|
147,111
|
|
|
280,387
|
|
|
364,046
|
|
|
344,250
|
|
|
415,575
|
|
|||||
Income from continuing operations
|
|
505,165
|
|
|
888,549
|
|
|
1,082,070
|
|
|
540,613
|
|
|
829,750
|
|
|||||
Income from discontinued operations, net
|
|
7,135
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Net income
|
|
512,300
|
|
|
888,549
|
|
|
1,082,070
|
|
|
540,613
|
|
|
829,750
|
|
|||||
Preferred stock dividends
|
|
65,408
|
|
|
65,406
|
|
|
65,406
|
|
|
49,410
|
|
|
46,704
|
|
|||||
Preferred stock redemption charge
|
|
—
|
|
|
—
|
|
|
—
|
|
|
9,769
|
|
|
—
|
|
|||||
Net income (loss) attributable to noncontrolling interests
|
|
147
|
|
|
4,799
|
|
|
4,267
|
|
|
17,839
|
|
|
24,796
|
|
|||||
Net income attributable to common stockholders
|
|
$
|
446,745
|
|
|
$
|
818,344
|
|
|
$
|
1,012,397
|
|
|
$
|
463,595
|
|
|
$
|
758,250
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Other Data
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Average number of common shares outstanding:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Basic
|
|
306,272
|
|
|
348,240
|
|
|
358,275
|
|
|
367,237
|
|
|
373,620
|
|
|||||
Diluted
|
|
307,747
|
|
|
349,424
|
|
|
360,227
|
|
|
369,001
|
|
|
375,250
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Per Share Data
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Basic:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Income from continuing operations
|
|
$
|
1.65
|
|
|
$
|
2.55
|
|
|
$
|
3.02
|
|
|
$
|
1.47
|
|
|
$
|
2.22
|
|
Discontinued operations, net
|
|
$
|
0.02
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Net income attributable to common stockholders
|
|
$
|
1.46
|
|
|
$
|
2.35
|
|
|
$
|
2.83
|
|
|
$
|
1.26
|
|
|
$
|
2.03
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Diluted:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Income from continuing operations
|
|
$
|
1.64
|
|
|
$
|
2.54
|
|
|
$
|
3.00
|
|
|
$
|
1.47
|
|
|
$
|
2.21
|
|
Discontinued operations, net
|
|
$
|
0.02
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Net income attributable to common stockholders
|
|
$
|
1.45
|
|
|
$
|
2.34
|
|
|
$
|
2.81
|
|
|
$
|
1.26
|
|
|
$
|
2.02
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Cash distributions per common share
|
|
$
|
3.18
|
|
|
$
|
3.30
|
|
|
$
|
3.44
|
|
|
$
|
3.48
|
|
|
$
|
3.48
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
December 31,
|
||||||||||||||||||
Balance Sheet Data
|
|
2014
|
|
2015
|
|
2016
|
|
2017
|
|
2018
|
||||||||||
Net real estate investments
|
|
$
|
22,851,196
|
|
|
$
|
26,888,685
|
|
|
$
|
26,563,629
|
|
|
$
|
26,171,077
|
|
|
$
|
28,420,769
|
|
Total assets
|
|
24,962,923
|
|
|
29,023,845
|
|
|
28,865,184
|
|
|
27,944,445
|
|
|
30,342,072
|
|
|||||
Total long-term obligations
|
|
10,776,640
|
|
|
12,967,686
|
|
|
12,358,245
|
|
|
11,731,936
|
|
|
13,297,144
|
|
|||||
Total liabilities
|
|
11,403,465
|
|
|
13,664,877
|
|
|
13,185,279
|
|
|
12,643,799
|
|
|
14,331,427
|
|
|||||
Total preferred stock
|
|
1,006,250
|
|
|
1,006,250
|
|
|
1,006,250
|
|
|
718,503
|
|
|
718,498
|
|
|||||
Total equity
|
|
13,473,049
|
|
|
15,175,885
|
|
|
15,281,472
|
|
|
14,925,452
|
|
|
15,586,599
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
EXECUTIVE SUMMARY
|
|
|
|
Company Overview
|
|
Business Strategy
|
|
Key Transactions
|
|
Key Performance Indicators, Trends and Uncertainties
|
|
Corporate Governance
|
|
|
|
LIQUIDITY AND CAPITAL RESOURCES
|
|
|
|
Sources and Uses of Cash
|
|
Off-Balance Sheet Arrangements
|
|
Contractual Obligations
|
|
Capital Structure
|
|
|
|
RESULTS OF OPERATIONS
|
|
|
|
Summary
|
|
Seniors Housing Operating
|
|
Triple-net
|
|
Outpatient Medical
|
|
Non-Segment/Corporate
|
|
|
|
OTHER
|
|
|
|
Non-GAAP Financial Measures
|
|
Critical Accounting Policies
|
|
|
|
|
Percentage of
|
|
Number of
|
||||
Type of Property
|
|
NOI(1)
|
|
NOI
|
|
Properties
|
||||
Seniors Housing Operating
|
|
$
|
985,022
|
|
|
43.5
|
%
|
|
500
|
|
Triple-net
|
|
900,049
|
|
|
39.7
|
%
|
|
726
|
|
|
Outpatient Medical
|
|
380,136
|
|
|
16.8
|
%
|
|
284
|
|
|
Totals
|
|
$
|
2,265,207
|
|
|
100.0
|
%
|
|
1,510
|
|
•
|
In April 2018, we issued $550,000,000 of 4.25% senior unsecured notes due 2028 for net proceeds of approximately $545,074,000.
|
•
|
In connection with the QCP acquisition, in July 2018, we drew on a $1,000,000,000 term loan facility to fund a portion of the cash consideration and other expenses.
|
•
|
In August 2018, we issued $200,000,000 of 4.25% senior unsecured notes due 2028, $600,000,000 of 3.95% senior unsecured notes due 2023 and $500,000,000 of 4.95% senior unsecured notes due 2048 for aggregate net proceeds of approximately $1,283,226,000. Proceeds from these issuances were used to repay advances under the $1,000,000,000 term loan facility drawn on in July 2018 and the primary unsecured credit facility.
|
•
|
In July 2018, we closed on a new $3,700,000,000 unsecured credit facility with improved pricing across both our line of credit and term loan facility and terminated the existing unsecured credit facility. The credit facility includes a $3,000,000,000 revolving credit facility at a borrowing rate of 0.825% over LIBOR, a $500,000,000 USD unsecured term credit facility at a borrowing rate of 0.90% over LIBOR and a $250,000,000 CAD unsecured term credit facility at 0.90% over CDOR.
|
•
|
We extinguished $306,553,000 of secured debt at a blended average interest rate of 5.36%.
|
•
|
We repaid our $450,000,000 of 2.25% senior unsecured notes at par upon maturity on March 15, 2018.
|
•
|
We raised $794,649,000 through our dividend reinvestment program and our Equity Shelf Program (as defined below).
|
|
|
Properties
|
|
Investment Amount(1)
|
|
Capitalization Rates(2)
|
|
Book Amount(3)
|
|||||
Seniors Housing Operating
|
|
12
|
|
|
$
|
673,374
|
|
|
6.7%
|
|
$
|
742,675
|
|
Triple-net
|
|
246
|
|
|
2,438,899
|
|
|
6.9%
|
|
3,062,427
|
|
||
Outpatient Medical
|
|
30
|
|
|
605,866
|
|
|
5.8%
|
|
628,824
|
|
||
Totals
|
|
288
|
|
|
$
|
3,718,139
|
|
|
6.7%
|
|
$
|
4,433,926
|
|
|
|
Properties
|
|
Proceeds(1)
|
|
Capitalization Rates(2)
|
|
Book Amount(3)
|
|||||
Seniors Housing Operating
|
|
4
|
|
|
$
|
40,073
|
|
|
7.5%
|
|
$
|
36,627
|
|
Triple-net
|
|
107
|
|
|
1,050,290
|
|
|
5.3%
|
|
835,093
|
|
||
Outpatient Medical
|
|
21
|
|
|
464,843
|
|
|
6.2%
|
|
253,397
|
|
||
Totals
|
|
132
|
|
|
$
|
1,555,206
|
|
|
5.6%
|
|
$
|
1,125,117
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2016
|
|
2017
|
|
2018
|
||||||
Net income
|
|
$
|
1,082,070
|
|
|
$
|
540,613
|
|
|
$
|
829,750
|
|
Net income attributable to common stockholders
|
|
1,012,397
|
|
|
463,595
|
|
|
758,250
|
|
|||
Funds from operations attributable to common stockholders
|
|
1,582,940
|
|
|
1,165,576
|
|
|
1,392,183
|
|
|||
Consolidated net operating income
|
|
2,404,177
|
|
|
2,232,716
|
|
|
2,267,482
|
|
|||
Same store net operating income
|
|
1,528,340
|
|
|
1,544,462
|
|
|
1,551,424
|
|
|
|
Year Ended December 31,
|
||||
|
|
2016
|
|
2017
|
|
2018
|
Net debt to book capitalization ratio
|
|
42.9%
|
|
42.9%
|
|
45.0%
|
Net debt to undepreciated book capitalization ratio
|
|
37.4%
|
|
36.3%
|
|
37.8%
|
Net debt to market capitalization ratio
|
|
31.1%
|
|
31.2%
|
|
31.3%
|
|
|
|
|
|
|
|
Adjusted interest coverage ratio
|
|
4.21x
|
|
4.36x
|
|
4.11x
|
Adjusted fixed charge coverage ratio
|
|
3.34x
|
|
3.54x
|
|
3.44x
|
|
|
|
December 31,(1)
|
||||
|
|
|
2016
|
|
2017
|
|
2018
|
Property mix:
|
|
|
|
|
|
|
|
|
Seniors Housing Operating
|
|
34%
|
|
40%
|
|
43%
|
|
Triple-net
|
|
50%
|
|
43%
|
|
40%
|
|
Outpatient Medical
|
|
16%
|
|
17%
|
|
17%
|
|
|
|
|
|
|
|
|
Relationship mix:
|
|
|
|
|
|
|
|
|
Sunrise Senior Living(2)
|
|
13%
|
|
14%
|
|
15%
|
|
Revera(2)
|
|
6%
|
|
7%
|
|
7%
|
|
Brookdale Senior Living
|
|
6%
|
|
7%
|
|
6%
|
|
Genesis HealthCare
|
|
16%
|
|
9%
|
|
6%
|
|
Benchmark Senior Living
|
|
4%
|
|
4%
|
|
4%
|
|
Remaining
|
|
55%
|
|
59%
|
|
62%
|
|
|
|
|
|
|
|
|
Geographic mix:
|
|
|
|
|
|
|
|
|
California
|
|
10%
|
|
13%
|
|
14%
|
|
United Kingdom
|
|
8%
|
|
9%
|
|
9%
|
|
Canada
|
|
7%
|
|
8%
|
|
8%
|
|
Texas
|
|
7%
|
|
7%
|
|
8%
|
|
New Jersey
|
|
8%
|
|
8%
|
|
7%
|
|
Remaining
|
|
60%
|
|
55%
|
|
54%
|
|
|
Year Ended
|
|
One Year Change
|
|
Year Ended
|
|
One Year Change
|
|
Two Year Change
|
|||||||||||||||||||||||
|
|
December 31,
|
|
December 31,
|
|
|
|
|
|
December 31,
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
2016
|
|
2017
|
|
$
|
|
%
|
|
2018
|
|
$
|
|
%
|
|
$
|
|
%
|
|||||||||||||||
Beginning cash, cash equivalents and restricted cash
|
|
$
|
422,690
|
|
|
$
|
607,220
|
|
|
$
|
184,530
|
|
|
44
|
%
|
|
$
|
309,303
|
|
|
$
|
(297,917
|
)
|
|
-49
|
%
|
|
$
|
(113,387
|
)
|
|
-27
|
%
|
Net cash provided from (used in):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Operating activities
|
|
1,639,064
|
|
|
1,434,177
|
|
|
(204,887
|
)
|
|
-13
|
%
|
|
1,583,944
|
|
|
149,767
|
|
|
10
|
%
|
|
(55,120
|
)
|
|
-3
|
%
|
||||||
Investing activities
|
|
(183,443
|
)
|
|
154,581
|
|
|
338,024
|
|
|
n/a
|
|
|
(2,386,471
|
)
|
|
(2,541,052
|
)
|
|
n/a
|
|
|
(2,203,028
|
)
|
|
1,201
|
%
|
||||||
Financing activities
|
|
(1,250,817
|
)
|
|
(1,913,527
|
)
|
|
(662,710
|
)
|
|
53
|
%
|
|
818,368
|
|
|
2,731,895
|
|
|
n/a
|
|
|
2,069,185
|
|
|
n/a
|
|
||||||
Effect of foreign currency translation
|
|
(20,274
|
)
|
|
26,852
|
|
|
47,126
|
|
|
n/a
|
|
|
(9,015
|
)
|
|
(35,867
|
)
|
|
n/a
|
|
|
11,259
|
|
|
-56
|
%
|
||||||
Ending cash, cash equivalents and restricted cash
|
|
$
|
607,220
|
|
|
$
|
309,303
|
|
|
$
|
(297,917
|
)
|
|
-49
|
%
|
|
$
|
316,129
|
|
|
$
|
6,826
|
|
|
2
|
%
|
|
$
|
(291,091
|
)
|
|
-48
|
%
|
|
|
Year Ended
|
|
One Year Change
|
|
Year Ended
|
|
One Year Change
|
|
Two Year Change
|
|||||||||||||||||||||||
|
|
December 31,
|
|
December 31,
|
|
|
|
|
|
December 31,
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
2016
|
|
2017
|
|
$
|
|
%
|
|
2018
|
|
$
|
|
%
|
|
$
|
|
%
|
|||||||||||||||
New development
|
|
$
|
403,131
|
|
|
$
|
232,715
|
|
|
$
|
(170,416
|
)
|
|
-42
|
%
|
|
$
|
160,706
|
|
|
$
|
(72,009
|
)
|
|
-31
|
%
|
|
$
|
(242,425
|
)
|
|
-60
|
%
|
Recurring capital expenditures, tenant improvements and lease commissions
|
|
66,332
|
|
|
67,797
|
|
|
1,465
|
|
|
2
|
%
|
|
90,190
|
|
|
22,393
|
|
|
33
|
%
|
|
23,858
|
|
|
36
|
%
|
||||||
Renovations, redevelopments and other capital improvements
|
|
152,814
|
|
|
182,479
|
|
|
29,665
|
|
|
19
|
%
|
|
175,993
|
|
|
(6,486
|
)
|
|
-4
|
%
|
|
23,179
|
|
|
15
|
%
|
||||||
Total
|
|
$
|
622,277
|
|
|
$
|
482,991
|
|
|
$
|
(139,286
|
)
|
|
-22
|
%
|
|
$
|
426,889
|
|
|
$
|
(56,102
|
)
|
|
-12
|
%
|
|
$
|
(195,388
|
)
|
|
-31
|
%
|
|
|
Payments Due by Period
|
||||||||||||||||||
Contractual Obligations
|
|
Total
|
|
2019
|
|
2020-2021
|
|
2022-2023
|
|
Thereafter
|
||||||||||
Unsecured revolving credit facility(1)
|
|
$
|
1,147,000
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,147,000
|
|
|
$
|
—
|
|
Senior unsecured notes and term credit facilities:(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
U.S. Dollar senior unsecured notes
|
|
7,450,000
|
|
|
600,000
|
|
|
900,000
|
|
|
1,700,000
|
|
|
4,250,000
|
|
|||||
Canadian Dollar senior unsecured notes(3)
|
|
219,989
|
|
|
—
|
|
|
219,989
|
|
|
—
|
|
|
—
|
|
|||||
Pounds Sterling senior unsecured notes(3)
|
|
1,339,170
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,339,170
|
|
|||||
U.S. Dollar term credit facility
|
|
507,500
|
|
|
—
|
|
|
7,500
|
|
|
500,000
|
|
|
—
|
|
|||||
Canadian Dollar term credit facility(3)
|
|
183,325
|
|
|
—
|
|
|
—
|
|
|
183,325
|
|
|
—
|
|
|||||
Secured debt:(2,3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Consolidated
|
|
2,485,711
|
|
|
508,899
|
|
|
507,412
|
|
|
605,789
|
|
|
863,611
|
|
|||||
Unconsolidated
|
|
790,643
|
|
|
51,614
|
|
|
88,024
|
|
|
39,495
|
|
|
611,510
|
|
|||||
Contractual interest obligations:(4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Unsecured revolving credit facility
|
|
171,910
|
|
|
38,202
|
|
|
76,405
|
|
|
57,303
|
|
|
—
|
|
|||||
Senior unsecured notes and term loans(3)
|
|
3,930,812
|
|
|
424,529
|
|
|
758,541
|
|
|
638,183
|
|
|
2,109,559
|
|
|||||
Consolidated secured debt(3)
|
|
478,922
|
|
|
90,861
|
|
|
144,026
|
|
|
96,873
|
|
|
147,162
|
|
|||||
Unconsolidated secured debt(3)
|
|
211,077
|
|
|
30,919
|
|
|
51,892
|
|
|
47,904
|
|
|
80,362
|
|
|||||
Capital lease obligations(5)
|
|
84,265
|
|
|
4,173
|
|
|
8,346
|
|
|
71,746
|
|
|
—
|
|
|||||
Operating lease obligations(5)
|
|
1,138,046
|
|
|
18,242
|
|
|
35,392
|
|
|
33,965
|
|
|
1,050,447
|
|
|||||
Purchase obligations(5)
|
|
1,704,293
|
|
|
1,599,477
|
|
|
104,816
|
|
|
—
|
|
|
—
|
|
|||||
Other long-term liabilities(6)
|
|
1,229
|
|
|
1,229
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Total contractual obligations
|
|
$
|
21,843,892
|
|
|
$
|
3,368,145
|
|
|
$
|
2,902,343
|
|
|
$
|
5,121,583
|
|
|
$
|
10,451,821
|
|
|
|
Year Ended
|
|
One Year Change
|
|
Year Ended
|
|
One Year Change
|
|
Two Year Change
|
|||||||||||||||||||||||
|
|
December 31,
|
|
December 31,
|
|
|
|
|
|
December 31,
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
2016
|
|
2017
|
|
Amount
|
|
%
|
|
2018
|
|
Amount
|
|
%
|
|
Amount
|
|
%
|
|||||||||||||||
Net income
|
|
$
|
1,082,070
|
|
|
$
|
540,613
|
|
|
$
|
(541,457
|
)
|
|
-50
|
%
|
|
$
|
829,750
|
|
|
$
|
289,137
|
|
|
53
|
%
|
|
$
|
(252,320
|
)
|
|
-23
|
%
|
NICS
|
|
1,012,397
|
|
|
463,595
|
|
|
(548,802
|
)
|
|
-54
|
%
|
|
758,250
|
|
|
294,655
|
|
|
64
|
%
|
|
(254,147
|
)
|
|
-25
|
%
|
||||||
FFO
|
|
1,582,940
|
|
|
1,165,576
|
|
|
(417,364
|
)
|
|
-26
|
%
|
|
1,392,183
|
|
|
226,607
|
|
|
19
|
%
|
|
(190,757
|
)
|
|
-12
|
%
|
||||||
Adjusted EBITDA
|
|
2,256,864
|
|
|
2,128,429
|
|
|
(128,435
|
)
|
|
-6
|
%
|
|
2,153,005
|
|
|
24,576
|
|
|
1
|
%
|
|
(103,859
|
)
|
|
-5
|
%
|
||||||
Consolidated NOI
|
|
2,404,177
|
|
|
2,232,716
|
|
|
(171,461
|
)
|
|
-7
|
%
|
|
2,267,482
|
|
|
34,766
|
|
|
2
|
%
|
|
(136,695
|
)
|
|
-6
|
%
|
||||||
Same store NOI
|
|
1,528,340
|
|
|
1,544,462
|
|
|
16,122
|
|
|
1
|
%
|
|
1,551,424
|
|
|
6,962
|
|
|
—
|
%
|
|
23,084
|
|
|
2
|
%
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Per share data (fully diluted):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net income attributable to common
stockholders
|
|
$
|
2.81
|
|
|
$
|
1.26
|
|
|
$
|
(1.55
|
)
|
|
-55
|
%
|
|
$
|
2.02
|
|
|
$
|
0.76
|
|
|
60
|
%
|
|
$
|
(0.79
|
)
|
|
-28
|
%
|
Funds from operations attributable to
common stockholders
|
|
4.39
|
|
|
3.16
|
|
|
(1.23
|
)
|
|
-28
|
%
|
|
3.71
|
|
|
0.55
|
|
|
17
|
%
|
|
(0.68
|
)
|
|
-15
|
%
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Adjusted interest coverage ratio
|
|
4.21x
|
|
|
4.36x
|
|
|
0.15x
|
|
|
4
|
%
|
|
4.11x
|
|
|
-0.25x
|
|
|
-6
|
%
|
|
0.15x
|
|
|
4
|
%
|
||||||
Adjusted fixed charge coverage ratio
|
|
3.34x
|
|
|
3.54x
|
|
|
0.20x
|
|
|
6
|
%
|
|
3.44x
|
|
|
-0.10x
|
|
|
-3
|
%
|
|
0.20x
|
|
|
6
|
%
|
|
|
Year Ended
|
|
One Year Change
|
|
Year Ended
|
|
One Year Change
|
|
Two Year Change
|
|||||||||||||||||||||||
|
|
December 31,
|
|
December 31,
|
|
|
|
|
|
December 31,
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
2016
|
|
2017
|
|
$
|
|
%
|
|
2018
|
|
$
|
|
%
|
|
$
|
|
%
|
|||||||||||||||
NOI
|
|
$
|
814,114
|
|
|
$
|
880,026
|
|
|
$
|
65,912
|
|
|
8
|
%
|
|
$
|
985,022
|
|
|
$
|
104,996
|
|
|
12
|
%
|
|
$
|
170,908
|
|
|
21
|
%
|
Non-cash NOI attributable to same store properties(1)
|
|
1,990
|
|
|
1,242
|
|
|
(748
|
)
|
|
-38
|
%
|
|
836
|
|
|
(406
|
)
|
|
-33
|
%
|
|
(1,154
|
)
|
|
-58
|
%
|
||||||
NOI attributable to non same store properties(2)
|
|
(77,334
|
)
|
|
(132,604
|
)
|
|
(55,270
|
)
|
|
71
|
%
|
|
(251,803
|
)
|
|
(119,199
|
)
|
|
90
|
%
|
|
(174,469
|
)
|
|
226
|
%
|
||||||
SSNOI(1)
|
|
$
|
738,770
|
|
|
$
|
748,664
|
|
|
$
|
9,894
|
|
|
1
|
%
|
|
$
|
734,055
|
|
|
$
|
(14,609
|
)
|
|
-2
|
%
|
|
$
|
(4,715
|
)
|
|
-1
|
%
|
|
|
|
|
Year Ended
|
|
One Year Change
|
|
Year Ended
|
|
One Year Change
|
|
Two Year Change
|
|||||||||||||||||||||||
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
|
|
December 31,
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
|
|
2016
|
|
2017
|
|
$
|
|
%
|
|
2018
|
|
$
|
|
%
|
|
$
|
|
%
|
|||||||||||||||
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
|
Resident fees and services
|
|
$
|
2,504,731
|
|
|
$
|
2,779,423
|
|
|
$
|
274,692
|
|
|
11
|
%
|
|
$
|
3,234,852
|
|
|
$
|
455,429
|
|
|
16
|
%
|
|
$
|
730,121
|
|
|
29
|
%
|
|
|
Interest income
|
|
4,180
|
|
|
69
|
|
|
(4,111
|
)
|
|
-98
|
%
|
|
578
|
|
|
509
|
|
|
738
|
%
|
|
(3,602
|
)
|
|
-86
|
%
|
||||||
|
|
Other income
|
|
17,085
|
|
|
5,127
|
|
|
(11,958
|
)
|
|
-70
|
%
|
|
5,024
|
|
|
(103
|
)
|
|
-2
|
%
|
|
(12,061
|
)
|
|
-71
|
%
|
||||||
|
|
Total revenues
|
|
2,525,996
|
|
|
2,784,619
|
|
|
258,623
|
|
|
10
|
%
|
|
3,240,454
|
|
|
455,835
|
|
|
16
|
%
|
|
714,458
|
|
|
28
|
%
|
||||||
Property operating expenses
|
|
1,711,882
|
|
|
1,904,593
|
|
|
192,711
|
|
|
11
|
%
|
|
2,255,432
|
|
|
350,839
|
|
|
18
|
%
|
|
543,550
|
|
|
32
|
%
|
||||||||
|
|
NOI(1)
|
|
814,114
|
|
|
880,026
|
|
|
65,912
|
|
|
8
|
%
|
|
985,022
|
|
|
104,996
|
|
|
12
|
%
|
|
170,908
|
|
|
21
|
%
|
||||||
Other expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
|
Depreciation and amortization
|
|
415,429
|
|
|
484,796
|
|
|
69,367
|
|
|
17
|
%
|
|
529,449
|
|
|
44,653
|
|
|
9
|
%
|
|
114,020
|
|
|
27
|
%
|
||||||
|
|
Interest expense
|
|
81,853
|
|
|
63,265
|
|
|
(18,588
|
)
|
|
-23
|
%
|
|
69,060
|
|
|
5,795
|
|
|
9
|
%
|
|
(12,793
|
)
|
|
-16
|
%
|
||||||
|
|
Transaction costs(2)
|
|
29,207
|
|
|
—
|
|
|
(29,207
|
)
|
|
-100
|
%
|
|
—
|
|
|
—
|
|
|
n/a
|
|
|
(29,207
|
)
|
|
-100
|
%
|
||||||
|
|
Loss (gain) on extinguishment of debt, net
|
|
(88
|
)
|
|
3,785
|
|
|
3,873
|
|
|
-4,401
|
%
|
|
110
|
|
|
(3,675
|
)
|
|
-97
|
%
|
|
198
|
|
|
-225
|
%
|
||||||
|
|
Impairment of assets
|
|
12,403
|
|
|
21,949
|
|
|
9,546
|
|
|
77
|
%
|
|
7,599
|
|
|
(14,350
|
)
|
|
-65
|
%
|
|
(4,804
|
)
|
|
-39
|
%
|
||||||
|
|
Other expenses(2)
|
|
—
|
|
|
8,347
|
|
|
8,347
|
|
|
n/a
|
|
|
6,624
|
|
|
(1,723
|
)
|
|
-21
|
%
|
|
6,624
|
|
|
n/a
|
|
||||||
|
|
|
|
538,804
|
|
|
582,142
|
|
|
43,338
|
|
|
8
|
%
|
|
612,842
|
|
|
30,700
|
|
|
5
|
%
|
|
74,038
|
|
|
14
|
%
|
||||||
Income (loss) from continuing operations before income taxes and other items
|
|
275,310
|
|
|
297,884
|
|
|
22,574
|
|
|
8
|
%
|
|
372,180
|
|
|
74,296
|
|
|
25
|
%
|
|
96,870
|
|
|
35
|
%
|
||||||||
Income tax benefit (expense)
|
|
(3,762
|
)
|
|
(16,430
|
)
|
|
(12,668
|
)
|
|
337
|
%
|
|
1,202
|
|
|
17,632
|
|
|
-107
|
%
|
|
4,964
|
|
|
-132
|
%
|
||||||||
Income (loss) from unconsolidated entities
|
|
(20,442
|
)
|
|
(105,236
|
)
|
|
(84,794
|
)
|
|
415
|
%
|
|
(28,142
|
)
|
|
77,094
|
|
|
-73
|
%
|
|
(7,700
|
)
|
|
38
|
%
|
||||||||
Gain (loss) on real estate dispositions, net
|
|
9,880
|
|
|
56,295
|
|
|
46,415
|
|
|
470
|
%
|
|
(2,245
|
)
|
|
(58,540
|
)
|
|
-104
|
%
|
|
(12,125
|
)
|
|
-123
|
%
|
||||||||
Income from continuing operations
|
|
260,986
|
|
|
232,513
|
|
|
(28,473
|
)
|
|
-11
|
%
|
|
342,995
|
|
|
110,482
|
|
|
48
|
%
|
|
82,009
|
|
|
31
|
%
|
||||||||
Net income (loss)
|
|
260,986
|
|
|
232,513
|
|
|
(28,473
|
)
|
|
-11
|
%
|
|
342,995
|
|
|
110,482
|
|
|
48
|
%
|
|
82,009
|
|
|
31
|
%
|
||||||||
Less: Net income (loss) attributable to noncontrolling interests
|
|
2,292
|
|
|
8,472
|
|
|
6,180
|
|
|
270
|
%
|
|
(660
|
)
|
|
(9,132
|
)
|
|
-108
|
%
|
|
(2,952
|
)
|
|
-129
|
%
|
||||||||
Net income (loss) attributable to common stockholders
|
|
$
|
258,694
|
|
|
$
|
224,041
|
|
|
$
|
(34,653
|
)
|
|
-13
|
%
|
|
$
|
343,655
|
|
|
$
|
119,614
|
|
|
53
|
%
|
|
$
|
84,961
|
|
|
33
|
%
|
Location
|
|
Units/Beds
|
|
Commitment
|
|
Balance
|
|
Est. Completion
|
|||||
Wandsworth, UK
|
|
98
|
|
|
$
|
75,185
|
|
|
$
|
41,833
|
|
|
1Q20
|
Potomac, MD
|
|
120
|
|
|
56,623
|
|
|
7,627
|
|
|
4Q20
|
||
|
|
218
|
|
|
$
|
131,808
|
|
|
49,460
|
|
|
|
|
Toronto, ON
|
|
Project in planning stage
|
|
39,898
|
|
|
|
||||||
|
|
|
|
|
|
$
|
89,358
|
|
|
|
|
|
Year Ended
|
|
Year Ended
|
|
Year Ended
|
||||||||||||
|
|
December 31, 2016
|
|
December 31, 2017
|
|
December 31, 2018
|
||||||||||||
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
||||||
|
|
Amount
|
|
Interest Rate
|
|
Amount
|
|
Interest Rate
|
|
Amount
|
|
Interest Rate
|
||||||
Beginning balance
|
|
$
|
2,290,552
|
|
|
3.96%
|
|
$
|
2,463,249
|
|
|
3.94%
|
|
$
|
1,988,700
|
|
|
3.66%
|
Debt transferred in
|
|
—
|
|
|
—%
|
|
—
|
|
|
—%
|
|
35,830
|
|
|
3.84%
|
|||
Debt issued
|
|
293,860
|
|
|
2.90%
|
|
228,772
|
|
|
2.72%
|
|
45,447
|
|
|
3.40%
|
|||
Debt assumed
|
|
60,898
|
|
|
4.30%
|
|
—
|
|
|
—%
|
|
121,612
|
|
|
5.55%
|
|||
Debt extinguished
|
|
(159,498
|
)
|
|
3.66%
|
|
(668,804
|
)
|
|
4.81%
|
|
(240,095
|
)
|
|
4.83%
|
|||
Debt deconsolidated
|
|
—
|
|
|
—%
|
|
(60,000
|
)
|
|
3.80%
|
|
—
|
|
|
0.00%
|
|||
Principal payments
|
|
(49,112
|
)
|
|
3.89%
|
|
(47,153
|
)
|
|
3.60%
|
|
(47,886
|
)
|
|
3.59%
|
|||
Foreign currency
|
|
26,549
|
|
|
3.48%
|
|
72,636
|
|
|
3.23%
|
|
(93,021
|
)
|
|
3.31%
|
|||
Ending balance
|
|
$
|
2,463,249
|
|
|
3.94%
|
|
$
|
1,988,700
|
|
|
3.66%
|
|
$
|
1,810,587
|
|
|
3.87%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Monthly averages
|
|
$
|
2,391,706
|
|
|
3.93%
|
|
$
|
2,065,477
|
|
|
3.66%
|
|
$
|
1,915,663
|
|
|
3.74%
|
|
|
Year Ended
|
|
One Year Change
|
|
Year Ended
|
|
One Year Change
|
|
Two Year Change
|
|||||||||||||||||||||||
|
|
December 31,
|
|
December 31,
|
|
|
|
|
|
December 31,
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
2016
|
|
2017
|
|
$
|
|
%
|
|
2018
|
|
$
|
|
%
|
|
$
|
|
%
|
|||||||||||||||
NOI
|
|
$
|
1,208,860
|
|
|
$
|
967,084
|
|
|
$
|
(241,776
|
)
|
|
-20
|
%
|
|
$
|
900,049
|
|
|
$
|
(67,035
|
)
|
|
-7
|
%
|
|
$
|
(308,811
|
)
|
|
-26
|
%
|
Non-cash NOI attributable to same store properties(1)
|
|
(28,538
|
)
|
|
(23,764
|
)
|
|
4,774
|
|
|
-17
|
%
|
|
(17,093
|
)
|
|
6,671
|
|
|
-28
|
%
|
|
11,445
|
|
|
-40
|
%
|
||||||
NOI attributable to non same store properties(2)
|
|
(709,606
|
)
|
|
(465,820
|
)
|
|
243,786
|
|
|
-34
|
%
|
|
(401,878
|
)
|
|
63,942
|
|
|
-14
|
%
|
|
307,728
|
|
|
-43
|
%
|
||||||
SSNOI(1)
|
|
$
|
470,716
|
|
|
$
|
477,500
|
|
|
$
|
6,784
|
|
|
1
|
%
|
|
$
|
481,078
|
|
|
$
|
3,578
|
|
|
1
|
%
|
|
$
|
10,362
|
|
|
2
|
%
|
|
|
|
Year Ended
|
|
One Year Change
|
|
Year Ended
|
|
One Year Change
|
|
Two Year Change
|
|||||||||||||||||||||||
|
|
|
December 31,
|
|
December 31,
|
|
|
|
|
|
December 31,
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
|
2016
|
|
2017
|
|
$
|
|
%
|
|
2018
|
|
$
|
|
%
|
|
$
|
|
%
|
|||||||||||||||
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Rental income
|
|
$
|
1,112,325
|
|
|
$
|
885,811
|
|
|
$
|
(226,514
|
)
|
|
-20
|
%
|
|
$
|
828,865
|
|
|
$
|
(56,946
|
)
|
|
-6
|
%
|
|
$
|
(283,460
|
)
|
|
-25
|
%
|
|
Interest income
|
|
90,476
|
|
|
73,742
|
|
|
(16,734
|
)
|
|
-18
|
%
|
|
54,926
|
|
|
(18,816
|
)
|
|
-26
|
%
|
|
(35,550
|
)
|
|
-39
|
%
|
||||||
|
Other income
|
|
6,059
|
|
|
7,531
|
|
|
1,472
|
|
|
24
|
%
|
|
17,173
|
|
|
9,642
|
|
|
128
|
%
|
|
11,114
|
|
|
183
|
%
|
||||||
|
Total revenues
|
|
1,208,860
|
|
|
967,084
|
|
|
(241,776
|
)
|
|
-20
|
%
|
|
900,964
|
|
|
(66,120
|
)
|
|
-7
|
%
|
|
(307,896
|
)
|
|
-25
|
%
|
||||||
|
Property operating expenses
|
|
—
|
|
|
—
|
|
|
—
|
|
|
n/a
|
|
|
915
|
|
|
915
|
|
|
n/a
|
|
|
(915
|
)
|
|
n/a
|
|
||||||
|
NOI(1)
|
|
1,208,860
|
|
|
967,084
|
|
|
(241,776
|
)
|
|
-20
|
%
|
|
900,049
|
|
|
(67,035
|
)
|
|
-7
|
%
|
|
(306,981
|
)
|
|
-25
|
%
|
||||||
Other expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Depreciation and amortization
|
|
297,197
|
|
|
243,830
|
|
|
(53,367
|
)
|
|
-18
|
%
|
|
235,480
|
|
|
(8,350
|
)
|
|
-3
|
%
|
|
(61,717
|
)
|
|
-21
|
%
|
||||||
|
Interest expense
|
|
21,370
|
|
|
15,194
|
|
|
(6,176
|
)
|
|
-29
|
%
|
|
14,225
|
|
|
(969
|
)
|
|
-6
|
%
|
|
(7,145
|
)
|
|
-33
|
%
|
||||||
|
Loss (gain) on derivatives and financial instruments, net
|
|
68
|
|
|
2,284
|
|
|
2,216
|
|
|
3,259
|
%
|
|
(4,016
|
)
|
|
(6,300
|
)
|
|
-276
|
%
|
|
(4,084
|
)
|
|
-6,006
|
%
|
||||||
|
Transaction costs(2)
|
|
10,016
|
|
|
—
|
|
|
(10,016
|
)
|
|
-100
|
%
|
|
—
|
|
|
—
|
|
|
n/a
|
|
|
(10,016
|
)
|
|
-100
|
%
|
||||||
|
Loss (gain) on extinguishment of debt, net
|
|
863
|
|
|
29,083
|
|
|
28,220
|
|
|
3,270
|
%
|
|
(32
|
)
|
|
(29,115
|
)
|
|
-100
|
%
|
|
(895
|
)
|
|
-104
|
%
|
||||||
|
Provision for loan losses
|
|
6,935
|
|
|
62,966
|
|
|
56,031
|
|
|
808
|
%
|
|
—
|
|
|
(62,966
|
)
|
|
-100
|
%
|
|
(6,935
|
)
|
|
-100
|
%
|
||||||
|
Impairment of assets
|
|
20,169
|
|
|
96,909
|
|
|
76,740
|
|
|
380
|
%
|
|
107,980
|
|
|
11,071
|
|
|
11
|
%
|
|
87,811
|
|
|
435
|
%
|
||||||
|
Other expenses(2)
|
|
—
|
|
|
116,689
|
|
|
116,689
|
|
|
n/a
|
|
|
90,975
|
|
|
(25,714
|
)
|
|
-22
|
%
|
|
90,975
|
|
|
n/a
|
|
||||||
|
|
|
356,618
|
|
|
566,955
|
|
|
210,337
|
|
|
59
|
%
|
|
444,612
|
|
|
(122,343
|
)
|
|
-22
|
%
|
|
87,994
|
|
|
25
|
%
|
||||||
Income from continuing operations before income taxes and other items
|
|
852,242
|
|
|
400,129
|
|
|
(452,113
|
)
|
|
-53
|
%
|
|
455,437
|
|
|
55,308
|
|
|
14
|
%
|
|
(396,805
|
)
|
|
-47
|
%
|
|||||||
Income tax benefit (expense)
|
|
(1,087
|
)
|
|
(4,291
|
)
|
|
(3,204
|
)
|
|
295
|
%
|
|
1,611
|
|
|
5,902
|
|
|
-138
|
%
|
|
2,698
|
|
|
-248
|
%
|
|||||||
Income (loss) from unconsolidated entities
|
|
9,767
|
|
|
19,428
|
|
|
9,661
|
|
|
99
|
%
|
|
21,938
|
|
|
2,510
|
|
|
13
|
%
|
|
12,171
|
|
|
125
|
%
|
|||||||
Gain (loss) on real estate dispositions, net
|
|
355,394
|
|
|
286,325
|
|
|
(69,069
|
)
|
|
-19
|
%
|
|
196,589
|
|
|
(89,736
|
)
|
|
-31
|
%
|
|
(158,805
|
)
|
|
-45
|
%
|
|||||||
Income from continuing operations
|
|
1,216,316
|
|
|
701,591
|
|
|
(514,725
|
)
|
|
-42
|
%
|
|
675,575
|
|
|
(26,016
|
)
|
|
-4
|
%
|
|
(540,741
|
)
|
|
-44
|
%
|
|||||||
Net income
|
|
1,216,316
|
|
|
701,591
|
|
|
(514,725
|
)
|
|
-42
|
%
|
|
675,575
|
|
|
(26,016
|
)
|
|
-4
|
%
|
|
(540,741
|
)
|
|
-44
|
%
|
|||||||
Less: Net income attributable to noncontrolling interests
|
|
1,221
|
|
|
4,603
|
|
|
3,382
|
|
|
277
|
%
|
|
19,306
|
|
|
14,703
|
|
|
319
|
%
|
|
18,085
|
|
|
1,481
|
%
|
|||||||
Net income attributable to common stockholders
|
|
$
|
1,215,095
|
|
|
$
|
696,988
|
|
|
$
|
(518,107
|
)
|
|
-43
|
%
|
|
$
|
656,269
|
|
|
$
|
(40,719
|
)
|
|
-6
|
%
|
|
$
|
(558,826
|
)
|
|
-46
|
%
|
Location
|
|
Units/Beds
|
|
Commitment
|
|
Balance
|
|
Est. Completion
|
|||||
Westerville, OH
|
|
90
|
|
|
$
|
22,800
|
|
|
$
|
8,160
|
|
|
3Q19
|
Union, KY
|
|
162
|
|
|
34,600
|
|
|
9,848
|
|
|
1Q20
|
||
Droitwich , UK
|
|
70
|
|
|
16,153
|
|
|
4,573
|
|
|
4Q20
|
||
Total
|
|
322
|
|
|
$
|
73,553
|
|
|
$
|
22,581
|
|
|
|
|
|
Year Ended
|
|
Year Ended
|
|
Year Ended
|
||||||||||||
|
|
December 31, 2016
|
|
December 31, 2017
|
|
December 31, 2018
|
||||||||||||
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
||||||
|
|
Amount
|
|
Interest Rate
|
|
Amount
|
|
Interest Rate
|
|
Amount
|
|
Interest Rate
|
||||||
Beginning balance
|
|
$
|
554,014
|
|
|
5.49%
|
|
$
|
594,199
|
|
|
4.58%
|
|
$
|
347,474
|
|
|
3.55%
|
Debt issued
|
|
166,155
|
|
|
2.21%
|
|
13,000
|
|
|
4.57%
|
|
—
|
|
|
—%
|
|||
Debt extinguished
|
|
(118,500
|
)
|
|
5.56%
|
|
(274,048
|
)
|
|
5.95%
|
|
(4,107
|
)
|
|
4.94%
|
|||
Debt transferred out
|
|
—
|
|
|
—%
|
|
—
|
|
|
—%
|
|
(35,830
|
)
|
|
3.84%
|
|||
Principal payments
|
|
(10,627
|
)
|
|
5.68%
|
|
(5,863
|
)
|
|
5.66%
|
|
(3,982
|
)
|
|
5.38%
|
|||
Foreign currency
|
|
3,157
|
|
|
5.25%
|
|
20,186
|
|
|
2.91%
|
|
(15,169
|
)
|
|
3.44%
|
|||
Ending balance
|
|
$
|
594,199
|
|
|
4.58%
|
|
$
|
347,474
|
|
|
3.55%
|
|
$
|
288,386
|
|
|
3.63%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Monthly averages
|
|
$
|
497,213
|
|
|
5.41%
|
|
$
|
408,688
|
|
|
3.91%
|
|
$
|
321,730
|
|
|
3.51%
|
|
|
Year Ended
|
|
One Year Change
|
|
Year Ended
|
|
One Year Change
|
|
Two Year Change
|
|||||||||||||||||||||||
|
|
December 31,
|
|
December 31,
|
|
|
|
|
|
December 31,
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
2016
|
|
2017
|
|
$
|
|
%
|
|
2018
|
|
$
|
|
%
|
|
$
|
|
%
|
|||||||||||||||
NOI
|
|
$
|
380,264
|
|
|
$
|
384,068
|
|
|
$
|
3,804
|
|
|
1
|
%
|
|
$
|
380,136
|
|
|
$
|
(3,932
|
)
|
|
-1
|
%
|
|
$
|
(128
|
)
|
|
—
|
%
|
Non-cash NOI attributable to same store properties(1)
|
|
(8,190
|
)
|
|
(7,694
|
)
|
|
496
|
|
|
-6
|
%
|
|
(8,226
|
)
|
|
(532
|
)
|
|
7
|
%
|
|
(36
|
)
|
|
—
|
%
|
||||||
NOI attributable to non same store properties(2)
|
|
(53,220
|
)
|
|
(58,076
|
)
|
|
(4,856
|
)
|
|
9
|
%
|
|
(35,619
|
)
|
|
22,457
|
|
|
-39
|
%
|
|
17,601
|
|
|
-33
|
%
|
||||||
SSNOI(1)
|
|
$
|
318,854
|
|
|
$
|
318,298
|
|
|
$
|
(556
|
)
|
|
—
|
%
|
|
$
|
336,291
|
|
|
$
|
17,993
|
|
|
6
|
%
|
|
$
|
17,437
|
|
|
5
|
%
|
|
|
|
Year Ended
|
|
One Year Change
|
|
Year Ended
|
|
One Year Change
|
|
Two Year Change
|
|||||||||||||||||||||||
|
|
|
December 31,
|
|
December 31,
|
|
|
|
|
|
December 31,
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
|
2016
|
|
2017
|
|
$
|
|
%
|
|
2018
|
|
$
|
|
%
|
|
$
|
|
%
|
|||||||||||||||
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Rental income
|
|
$
|
536,490
|
|
|
$
|
560,060
|
|
|
$
|
23,570
|
|
|
4
|
%
|
|
$
|
551,557
|
|
|
$
|
(8,503
|
)
|
|
-2
|
%
|
|
$
|
15,067
|
|
|
3
|
%
|
|
Interest income
|
|
3,307
|
|
|
—
|
|
|
(3,307
|
)
|
|
-100
|
%
|
|
310
|
|
|
310
|
|
|
n/a
|
|
|
(2,997
|
)
|
|
-91
|
%
|
||||||
|
Other income
|
|
5,568
|
|
|
3,340
|
|
|
(2,228
|
)
|
|
-40
|
%
|
|
4,939
|
|
|
1,599
|
|
|
48
|
%
|
|
(629
|
)
|
|
-11
|
%
|
||||||
|
Total revenues
|
|
545,365
|
|
|
563,400
|
|
|
18,035
|
|
|
3
|
%
|
|
556,806
|
|
|
(6,594
|
)
|
|
-1
|
%
|
|
11,441
|
|
|
2
|
%
|
||||||
Property operating expenses
|
|
165,101
|
|
|
179,332
|
|
|
14,231
|
|
|
9
|
%
|
|
176,670
|
|
|
(2,662
|
)
|
|
-1
|
%
|
|
11,569
|
|
|
7
|
%
|
|||||||
|
NOI(1)
|
|
380,264
|
|
|
384,068
|
|
|
3,804
|
|
|
1
|
%
|
|
380,136
|
|
|
(3,932
|
)
|
|
-1
|
%
|
|
(128
|
)
|
|
—
|
%
|
||||||
Other expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Depreciation and amortization
|
|
188,616
|
|
|
193,094
|
|
|
4,478
|
|
|
2
|
%
|
|
185,530
|
|
|
(7,564
|
)
|
|
-4
|
%
|
|
(3,086
|
)
|
|
-2
|
%
|
||||||
|
Interest expense
|
|
19,087
|
|
|
10,015
|
|
|
(9,072
|
)
|
|
-48
|
%
|
|
7,051
|
|
|
(2,964
|
)
|
|
-30
|
%
|
|
(12,036
|
)
|
|
-63
|
%
|
||||||
|
Transaction costs(2)
|
|
3,687
|
|
|
—
|
|
|
(3,687
|
)
|
|
-100
|
%
|
|
—
|
|
|
—
|
|
|
n/a
|
|
|
(3,687
|
)
|
|
-100
|
%
|
||||||
|
Loss (gain) on extinguishment of debt, net
|
|
—
|
|
|
4,373
|
|
|
4,373
|
|
|
n/a
|
|
|
11,928
|
|
|
7,555
|
|
|
173
|
%
|
|
11,928
|
|
|
n/a
|
|
||||||
|
Provision for loan losses.
|
|
3,280
|
|
|
—
|
|
|
(3,280
|
)
|
|
-100
|
%
|
|
—
|
|
|
—
|
|
|
n/a
|
|
|
(3,280
|
)
|
|
-100
|
%
|
||||||
|
Impairment of assets
|
|
4,635
|
|
|
5,625
|
|
|
990
|
|
|
21
|
%
|
|
—
|
|
|
(5,625
|
)
|
|
-100
|
%
|
|
(4,635
|
)
|
|
-100
|
%
|
||||||
|
Other expenses(2)
|
|
—
|
|
|
1,911
|
|
|
1,911
|
|
|
n/a
|
|
|
7,570
|
|
|
5,659
|
|
|
296
|
%
|
|
7,570
|
|
|
n/a
|
|
||||||
|
|
|
219,305
|
|
|
215,018
|
|
|
(4,287
|
)
|
|
-2
|
%
|
|
212,079
|
|
|
(2,939
|
)
|
|
-1
|
%
|
|
(7,226
|
)
|
|
-3
|
%
|
||||||
Income from continuing operations before income taxes and other item
|
|
160,959
|
|
|
169,050
|
|
|
8,091
|
|
|
5
|
%
|
|
168,057
|
|
|
(993
|
)
|
|
-1
|
%
|
|
7,098
|
|
|
4
|
%
|
|||||||
Income tax benefit (expense)
|
|
(511
|
)
|
|
(1,477
|
)
|
|
(966
|
)
|
|
189
|
%
|
|
(125
|
)
|
|
1,352
|
|
|
-92
|
%
|
|
386
|
|
|
-76
|
%
|
|||||||
Income (loss) from unconsolidated entities
|
|
318
|
|
|
2,683
|
|
|
2,365
|
|
|
744
|
%
|
|
5,563
|
|
|
2,880
|
|
|
107
|
%
|
|
5,245
|
|
|
1,649
|
%
|
|||||||
Gain (loss) on real estate dispositions, net
|
|
(1,228
|
)
|
|
1,630
|
|
|
2,858
|
|
|
n/a
|
|
|
221,231
|
|
|
219,601
|
|
|
13,472
|
%
|
|
222,459
|
|
|
n/a
|
|
|||||||
Income from continuing operations
|
|
159,538
|
|
|
171,886
|
|
|
9,490
|
|
|
6
|
%
|
|
394,726
|
|
|
3,239
|
|
|
2
|
%
|
|
12,729
|
|
|
8
|
%
|
|||||||
Net income (loss)
|
|
159,538
|
|
|
171,886
|
|
|
12,348
|
|
|
8
|
%
|
|
394,726
|
|
|
222,840
|
|
|
130
|
%
|
|
235,188
|
|
|
147
|
%
|
|||||||
Less: Net income (loss) attributable to noncontrolling interests
|
|
768
|
|
|
4,765
|
|
|
3,997
|
|
|
520
|
%
|
|
6,150
|
|
|
1,385
|
|
|
29
|
%
|
|
5,382
|
|
|
701
|
%
|
|||||||
Net income (loss) attributable to common stockholders
|
|
$
|
158,770
|
|
|
$
|
167,121
|
|
|
$
|
8,351
|
|
|
5
|
%
|
|
$
|
388,576
|
|
|
$
|
221,455
|
|
|
133
|
%
|
|
$
|
229,806
|
|
|
145
|
%
|
Location
|
|
Square Feet
|
|
Commitment
|
|
Balance
|
|
Est. Completion
|
|||||
Brooklyn, NY
|
|
140,955
|
|
|
$
|
105,306
|
|
|
$
|
58,390
|
|
|
3Q19
|
Houston, TX
|
|
73,500
|
|
|
23,455
|
|
|
5,097
|
|
|
4Q19
|
||
Porter, TX
|
|
55,000
|
|
|
20,800
|
|
|
4,198
|
|
|
4Q19
|
||
Total
|
|
269,455
|
|
|
$
|
149,561
|
|
|
$
|
67,685
|
|
|
|
|
|
Year Ended
|
|
Year Ended
|
|
Year Ended
|
||||||||||||
|
|
December 31, 2016
|
|
December 31, 2017
|
|
December 31, 2018
|
||||||||||||
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
||||||
|
|
Amount
|
|
Interest Rate
|
|
Amount
|
|
Interest Rate
|
|
Amount
|
|
Interest Rate
|
||||||
Beginning balance
|
|
$
|
627,689
|
|
|
5.18%
|
|
$
|
404,079
|
|
|
4.85%
|
|
$
|
279,951
|
|
|
4.72%
|
Debt assumed
|
|
—
|
|
|
—%
|
|
23,094
|
|
|
6.67%
|
|
171,275
|
|
|
3.99%
|
|||
Debt extinguished
|
|
(210,115
|
)
|
|
5.97%
|
|
(137,416
|
)
|
|
5.99%
|
|
(61,291
|
)
|
|
7.43%
|
|||
Principal payments
|
|
(13,495
|
)
|
|
6.55%
|
|
(9,806
|
)
|
|
6.85%
|
|
(3,197
|
)
|
|
5.91%
|
|||
Ending balance
|
|
$
|
404,079
|
|
|
4.85%
|
|
$
|
279,951
|
|
|
4.72%
|
|
$
|
386,738
|
|
|
4.20%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Monthly averages
|
|
$
|
536,774
|
|
|
5.11%
|
|
$
|
294,694
|
|
|
4.62%
|
|
$
|
238,214
|
|
|
4.25%
|
|
|
|
Year Ended
|
|
One Year Change
|
|
Year Ended
|
|
One Year Change
|
|
Two Year Change
|
|||||||||||||||||||||||
|
|
|
December 31,
|
|
December 31,
|
|
|
|
|
|
December 31,
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
|
2016
|
|
2017
|
|
$
|
|
%
|
|
2018
|
|
$
|
|
%
|
|
$
|
|
%
|
|||||||||||||||
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Other income
|
|
$
|
939
|
|
|
$
|
1,538
|
|
|
$
|
599
|
|
|
64
|
%
|
|
$
|
2,275
|
|
|
$
|
737
|
|
|
48
|
%
|
|
$
|
1,336
|
|
|
142
|
%
|
Expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Interest expense
|
|
399,035
|
|
|
396,148
|
|
|
(2,887
|
)
|
|
-1
|
%
|
|
436,256
|
|
|
40,108
|
|
|
10
|
%
|
|
37,221
|
|
|
9
|
%
|
||||||
|
General and administrative expenses
|
|
155,241
|
|
|
122,008
|
|
|
(33,233
|
)
|
|
-21
|
%
|
|
126,383
|
|
|
4,375
|
|
|
4
|
%
|
|
(28,858
|
)
|
|
-19
|
%
|
||||||
|
Loss (gain) on derivatives and financial instruments, net
|
|
(2,516
|
)
|
|
—
|
|
|
2,516
|
|
|
-100
|
%
|
|
—
|
|
|
—
|
|
|
n/a
|
|
|
2,516
|
|
|
-100
|
%
|
||||||
|
Loss (gain) on extinguishments of debt, net
|
|
16,439
|
|
|
—
|
|
|
(16,439
|
)
|
|
-100
|
%
|
|
4,091
|
|
|
4,091
|
|
|
n/a
|
|
|
(12,348
|
)
|
|
-75
|
%
|
||||||
|
Other expenses
|
|
11,998
|
|
|
50,829
|
|
|
38,831
|
|
|
324
|
%
|
|
7,729
|
|
|
(43,100
|
)
|
|
-85
|
%
|
|
(4,269
|
)
|
|
-36
|
%
|
||||||
|
Total expenses
|
|
580,197
|
|
|
568,985
|
|
|
(11,212
|
)
|
|
-2
|
%
|
|
574,459
|
|
|
5,474
|
|
|
1
|
%
|
|
(5,738
|
)
|
|
-1
|
%
|
||||||
Loss from continuing operations before income taxes
|
|
(579,258
|
)
|
|
(567,447
|
)
|
|
11,811
|
|
|
-2
|
%
|
|
(572,184
|
)
|
|
(4,737
|
)
|
|
1
|
%
|
|
7,074
|
|
|
-1
|
%
|
|||||||
Income tax benefit (expense)
|
|
24,488
|
|
|
2,070
|
|
|
(22,418
|
)
|
|
-92
|
%
|
|
(11,362
|
)
|
|
(13,432
|
)
|
|
n/a
|
|
|
(35,850
|
)
|
|
n/a
|
|
|||||||
Net loss
|
|
(554,770
|
)
|
|
(565,377
|
)
|
|
(10,607
|
)
|
|
2
|
%
|
|
(583,546
|
)
|
|
(18,169
|
)
|
|
3
|
%
|
|
(28,776
|
)
|
|
5
|
%
|
|||||||
Preferred stock dividends
|
|
65,406
|
|
|
49,410
|
|
|
(15,996
|
)
|
|
-24
|
%
|
|
46,704
|
|
|
(2,706
|
)
|
|
-5
|
%
|
|
(18,702
|
)
|
|
-29
|
%
|
|||||||
Preferred stock redemption charge
|
|
—
|
|
|
9,769
|
|
|
9,769
|
|
|
n/a
|
|
|
—
|
|
|
(9,769
|
)
|
|
-100
|
%
|
|
—
|
|
|
n/a
|
|
|||||||
Net loss attributable to common stockholders
|
|
$
|
(620,176
|
)
|
|
$
|
(624,556
|
)
|
|
$
|
(4,380
|
)
|
|
1
|
%
|
|
$
|
(630,250
|
)
|
|
$
|
(5,694
|
)
|
|
1
|
%
|
|
$
|
(10,074
|
)
|
|
2
|
%
|
|
|
Year Ended
|
|
One Year Change
|
|
Year Ended
|
|
One Year Change
|
|
Two Year Change
|
|||||||||||||||||||||||
|
|
December 31,
|
|
December 31,
|
|
|
|
|
|
December 31,
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
2016
|
|
2017
|
|
$
|
|
%
|
|
2018
|
|
$
|
|
%
|
|
$
|
|
%
|
|||||||||||||||
Senior unsecured notes
|
|
$
|
368,775
|
|
|
$
|
364,773
|
|
|
$
|
(4,002
|
)
|
|
-1
|
%
|
|
$
|
387,955
|
|
|
$
|
23,182
|
|
|
6
|
%
|
|
$
|
19,180
|
|
|
5
|
%
|
Secured debt
|
|
310
|
|
|
127
|
|
|
(183
|
)
|
|
-59
|
%
|
|
115
|
|
|
(12
|
)
|
|
-9
|
%
|
|
(195
|
)
|
|
-63
|
%
|
||||||
Primary unsecured credit facility
|
|
16,811
|
|
|
17,863
|
|
|
1,052
|
|
|
6
|
%
|
|
34,626
|
|
|
16,763
|
|
|
94
|
%
|
|
17,815
|
|
|
106
|
%
|
||||||
Loan expense
|
|
13,139
|
|
|
13,385
|
|
|
246
|
|
|
2
|
%
|
|
13,560
|
|
|
175
|
|
|
1
|
%
|
|
421
|
|
|
3
|
%
|
||||||
Totals
|
|
$
|
399,035
|
|
|
$
|
396,148
|
|
|
$
|
(2,887
|
)
|
|
-1
|
%
|
|
$
|
436,256
|
|
|
$
|
40,108
|
|
|
10
|
%
|
|
$
|
37,221
|
|
|
9
|
%
|
|
|
Year Ended December 31,
|
||||||||||
FFO Reconciliation:
|
|
2016
|
|
2017
|
|
2018
|
||||||
Net income attributable to common stockholders
|
|
$
|
1,012,397
|
|
|
$
|
463,595
|
|
|
$
|
758,250
|
|
Depreciation and amortization
|
|
901,242
|
|
|
921,720
|
|
|
950,459
|
|
|||
Impairment of assets
|
|
37,207
|
|
|
124,483
|
|
|
115,579
|
|
|||
Loss (gain) on real estate dispositions, net
|
|
(364,046
|
)
|
|
(344,250
|
)
|
|
(415,575
|
)
|
|||
Noncontrolling interests
|
|
(71,527
|
)
|
|
(60,018
|
)
|
|
(69,193
|
)
|
|||
Unconsolidated entities
|
|
67,667
|
|
|
60,046
|
|
|
52,663
|
|
|||
Funds from operations attributable to common stockholders
|
|
$
|
1,582,940
|
|
|
$
|
1,165,576
|
|
|
$
|
1,392,183
|
|
|
|
|
|
|
|
|
||||||
Average common shares outstanding:
|
|
|
|
|
|
|
||||||
Basic
|
|
358,275
|
|
|
367,237
|
|
|
373,620
|
|
|||
Diluted
|
|
360,227
|
|
|
369,001
|
|
|
375,250
|
|
|||
|
|
|
|
|
|
|
||||||
Per share data:
|
|
|
|
|
|
|
||||||
Net income attributable to common stockholders
|
|
|
|
|
|
|
||||||
Basic
|
|
$
|
2.83
|
|
|
$
|
1.26
|
|
|
$
|
2.03
|
|
Diluted
|
|
2.81
|
|
|
1.26
|
|
|
2.02
|
|
|||
|
|
|
|
|
|
|
||||||
Funds from operations attributable to common stockholders
|
|
|
|
|
|
|
||||||
Basic
|
|
$
|
4.42
|
|
|
$
|
3.17
|
|
|
$
|
3.73
|
|
Diluted
|
|
4.39
|
|
|
3.16
|
|
|
3.71
|
|
|
|
Year Ended December 31,
|
||||||||||
Adjusted EBITDA Reconciliation:
|
|
2016
|
|
2017
|
|
2018
|
||||||
Net income
|
|
$
|
1,082,070
|
|
|
$
|
540,613
|
|
|
$
|
829,750
|
|
Interest expense
|
|
521,345
|
|
|
484,622
|
|
|
526,592
|
|
|||
Income tax expense (benefit)
|
|
(19,128
|
)
|
|
20,128
|
|
|
8,674
|
|
|||
Depreciation and amortization
|
|
901,242
|
|
|
921,720
|
|
|
950,459
|
|
|||
EBITDA
|
|
2,485,529
|
|
|
1,967,083
|
|
|
2,315,475
|
|
|||
Loss (income) from unconsolidated entities
|
|
10,357
|
|
|
83,125
|
|
|
641
|
|
|||
Transaction costs
|
|
42,910
|
|
|
—
|
|
|
—
|
|
|||
Stock-based compensation expense(1)
|
|
28,869
|
|
|
19,102
|
|
|
27,646
|
|
|||
Loss (gain) on extinguishment of debt, net
|
|
17,214
|
|
|
37,241
|
|
|
16,097
|
|
|||
Loss (gain) on real estate dispositions, net
|
|
(364,046
|
)
|
|
(344,250
|
)
|
|
(415,575
|
)
|
|||
Impairment of assets
|
|
37,207
|
|
|
124,483
|
|
|
115,579
|
|
|||
Provision for loan losses
|
|
10,215
|
|
|
62,966
|
|
|
—
|
|
|||
Loss (gain) on derivatives and financial instruments, net
|
|
(2,448
|
)
|
|
2,284
|
|
|
(4,016
|
)
|
|||
Other expenses(1)
|
|
7,721
|
|
|
176,395
|
|
|
111,990
|
|
|||
Additional other income
|
|
(16,664
|
)
|
|
—
|
|
|
(14,832
|
)
|
|||
Adjusted EBITDA
|
|
$
|
2,256,864
|
|
|
$
|
2,128,429
|
|
|
$
|
2,153,005
|
|
|
|
|
|
|
|
|
||||||
Adjusted Interest Coverage Ratio:
|
|
|
|
|
|
|
||||||
Interest expense
|
|
$
|
521,345
|
|
|
$
|
484,622
|
|
|
$
|
526,592
|
|
Capitalized interest
|
|
16,943
|
|
|
13,489
|
|
|
7,905
|
|
|||
Non-cash interest expense
|
|
(1,681
|
)
|
|
(10,359
|
)
|
|
(10,860
|
)
|
|||
Total interest
|
|
536,607
|
|
|
487,752
|
|
|
523,637
|
|
|||
Adjusted EBITDA
|
|
$
|
2,256,864
|
|
|
$
|
2,128,429
|
|
|
$
|
2,153,005
|
|
Adjusted interest coverage ratio
|
|
4.21x
|
|
|
4.36x
|
|
|
4.11x
|
|
|||
|
|
|
|
|
|
|
||||||
Adjusted Fixed Charge Coverage Ratio:
|
|
|
|
|
|
|
||||||
Total interest
|
|
$
|
536,607
|
|
|
$
|
487,752
|
|
|
$
|
523,637
|
|
Secured debt principal payments
|
|
74,466
|
|
|
64,078
|
|
|
56,288
|
|
|||
Preferred dividends
|
|
65,406
|
|
|
49,410
|
|
|
46,704
|
|
|||
Total fixed charges
|
|
676,479
|
|
|
601,240
|
|
|
626,629
|
|
|||
Adjusted EBITDA
|
|
$
|
2,256,864
|
|
|
$
|
2,128,429
|
|
|
$
|
2,153,005
|
|
Adjusted fixed charge coverage ratio
|
|
3.34x
|
|
|
3.54x
|
|
|
3.44x
|
|
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
|
|
2016
|
|
2017
|
|
2018
|
||||||
Book capitalization:
|
|
|
|
|
|
|
||||||||
Borrowings under primary unsecured credit facility
|
|
$
|
645,000
|
|
|
$
|
719,000
|
|
|
$
|
1,147,000
|
|
||
Long-term debt obligations(1)
|
|
11,713,245
|
|
|
11,012,936
|
|
|
12,150,144
|
|
|||||
Cash and cash equivalents(2)
|
|
(557,659
|
)
|
|
(249,620
|
)
|
|
(215,376
|
)
|
|||||
Total net debt
|
|
11,800,586
|
|
|
11,482,316
|
|
|
13,081,768
|
|
|||||
Total equity and noncontrolling interests(3)
|
|
15,679,905
|
|
|
15,300,646
|
|
|
16,010,645
|
|
|||||
Book capitalization
|
|
$
|
27,480,491
|
|
|
$
|
26,782,962
|
|
|
$
|
29,092,413
|
|
||
|
|
Net debt to book capitalization ratio
|
|
42.9
|
%
|
|
42.9
|
%
|
|
45.0
|
%
|
|||
|
|
|
|
|
|
|
|
|
||||||
Undepreciated book capitalization:
|
|
|
|
|
|
|
||||||||
Total net debt
|
|
$
|
11,800,586
|
|
|
$
|
11,482,316
|
|
|
$
|
13,081,768
|
|
||
Accumulated depreciation and amortization
|
|
4,093,494
|
|
|
4,838,370
|
|
|
5,499,958
|
|
|||||
Total equity and noncontrolling interests(3)
|
|
15,679,905
|
|
|
15,300,646
|
|
|
16,010,645
|
|
|||||
Undepreciated book capitalization
|
|
$
|
31,573,985
|
|
|
$
|
31,621,332
|
|
|
$
|
34,592,371
|
|
||
|
|
Net debt to undepreciated book capitalization ratio
|
|
37.4
|
%
|
|
36.3
|
%
|
|
37.8
|
%
|
|||
|
|
|
|
|
|
|
|
|
||||||
Market capitalization:
|
|
|
|
|
|
|
||||||||
Common shares outstanding
|
|
362,602
|
|
|
371,732
|
|
|
383,675
|
|
|||||
Period end share price
|
|
$
|
66.93
|
|
|
$
|
63.77
|
|
|
$
|
69.41
|
|
||
Common equity market capitalization
|
|
$
|
24,268,952
|
|
|
$
|
23,705,350
|
|
|
$
|
26,630,882
|
|
||
Total net debt
|
|
11,800,586
|
|
|
11,482,316
|
|
|
13,081,768
|
|
|||||
Noncontrolling interests(3)
|
|
873,512
|
|
|
877,499
|
|
|
1,378,311
|
|
|||||
Preferred stock
|
|
1,006,250
|
|
|
718,503
|
|
|
718,498
|
|
|||||
Market capitalization:
|
|
$
|
37,949,300
|
|
|
$
|
36,783,668
|
|
|
$
|
41,809,459
|
|
||
|
|
Net debt to market capitalization ratio
|
|
31.1
|
%
|
|
31.2
|
%
|
|
31.3
|
%
|
|
|
|
|
|
|
Year Ended December 31,
|
||||||||||
NOI Reconciliation:
|
|
2016
|
|
2017
|
|
2018
|
||||||||||
Net income
|
|
$
|
1,082,070
|
|
|
$
|
540,613
|
|
|
$
|
829,750
|
|
||||
Loss (gain) on real estate dispositions, net
|
|
(364,046
|
)
|
|
(344,250
|
)
|
|
(415,575
|
)
|
|||||||
Loss (income) from unconsolidated entities
|
|
10,357
|
|
|
83,125
|
|
|
641
|
|
|||||||
Income tax expense (benefit)
|
|
(19,128
|
)
|
|
20,128
|
|
|
8,674
|
|
|||||||
Other expenses
|
|
11,998
|
|
|
177,776
|
|
|
112,898
|
|
|||||||
Impairment of assets
|
|
37,207
|
|
|
124,483
|
|
|
115,579
|
|
|||||||
Provision for loan losses
|
|
10,215
|
|
|
62,966
|
|
|
—
|
|
|||||||
Loss (gain) on extinguishment of debt, net
|
|
17,214
|
|
|
37,241
|
|
|
16,097
|
|
|||||||
Loss (gain) on derivatives and financial instruments, net
|
|
(2,448
|
)
|
|
2,284
|
|
|
(4,016
|
)
|
|||||||
Transaction costs
|
|
42,910
|
|
|
—
|
|
|
—
|
|
|||||||
General and administrative expenses
|
|
155,241
|
|
|
122,008
|
|
|
126,383
|
|
|||||||
Depreciation and amortization
|
|
901,242
|
|
|
921,720
|
|
|
950,459
|
|
|||||||
Interest expense
|
|
521,345
|
|
|
484,622
|
|
|
526,592
|
|
|||||||
Consolidated net operating income (NOI)
|
|
$
|
2,404,177
|
|
|
$
|
2,232,716
|
|
|
$
|
2,267,482
|
|
||||
|
|
|
|
|
|
|
||||||||||
NOI by segment:
|
|
|
|
|
|
|
||||||||||
|
|
Seniors Housing Operating
|
|
$
|
814,114
|
|
|
$
|
880,026
|
|
|
$
|
985,022
|
|
||
|
|
Triple-net
|
|
1,208,860
|
|
|
967,084
|
|
|
900,049
|
|
|||||
|
|
Outpatient Medical
|
|
380,264
|
|
|
384,068
|
|
|
380,136
|
|
|||||
|
|
Non-segment/corporate
|
|
939
|
|
|
1,538
|
|
|
2,275
|
|
|||||
|
|
|
|
Total NOI
|
|
$
|
2,404,177
|
|
|
$
|
2,232,716
|
|
|
$
|
2,267,482
|
|
|
|
Year Ended December 31,
|
||||||||||
SSNOI Reconciliation:
|
|
2016
|
|
2017
|
|
2018
|
||||||
NOI:
|
|
|
|
|
|
|
||||||
Seniors Housing Operating
|
|
$
|
814,114
|
|
|
$
|
880,026
|
|
|
$
|
985,022
|
|
Triple-net
|
|
1,208,860
|
|
|
967,084
|
|
|
900,049
|
|
|||
Outpatient Medical
|
|
380,264
|
|
|
384,068
|
|
|
380,136
|
|
|||
Total
|
|
2,403,238
|
|
|
2,231,178
|
|
|
2,265,207
|
|
|||
Adjustments:
|
|
|
|
|
|
|
||||||
Seniors Housing Operating:
|
|
|
|
|
|
|
||||||
Non-cash NOI on same store properties
|
|
1,990
|
|
|
1,242
|
|
|
836
|
|
|||
NOI attributable to non same store properties
|
|
(77,334
|
)
|
|
(132,604
|
)
|
|
(251,803
|
)
|
|||
Subtotal
|
|
(75,344
|
)
|
|
(131,362
|
)
|
|
(250,967
|
)
|
|||
Triple-net:
|
|
|
|
|
|
|
||||||
Non-cash NOI on same store properties
|
|
(28,538
|
)
|
|
(23,764
|
)
|
|
(17,093
|
)
|
|||
NOI attributable to non same store properties
|
|
(709,606
|
)
|
|
(465,820
|
)
|
|
(401,878
|
)
|
|||
Subtotal
|
|
(738,144
|
)
|
|
(489,584
|
)
|
|
(418,971
|
)
|
|||
Outpatient Medical:
|
|
|
|
|
|
|
||||||
Non-cash NOI on same store properties
|
|
(8,190
|
)
|
|
(7,694
|
)
|
|
(8,226
|
)
|
|||
NOI attributable to non same store properties
|
|
(53,220
|
)
|
|
(58,076
|
)
|
|
(35,619
|
)
|
|||
Subtotal
|
|
(61,410
|
)
|
|
(65,770
|
)
|
|
(43,845
|
)
|
|||
Total
|
|
(874,898
|
)
|
|
(686,716
|
)
|
|
(713,783
|
)
|
|||
SSNOI by segment:
|
|
|
|
|
|
|
||||||
Seniors Housing Operating
|
|
738,770
|
|
|
748,664
|
|
|
734,055
|
|
|||
Triple-net
|
|
470,716
|
|
|
477,500
|
|
|
481,078
|
|
|||
Outpatient Medical
|
|
318,854
|
|
|
318,298
|
|
|
336,291
|
|
|||
Total
|
|
$
|
1,528,340
|
|
|
$
|
1,544,462
|
|
|
$
|
1,551,424
|
|
SSNOI Property Reconciliation:
|
|
|
|
|
|
|
||||||
Total properties
|
|
1,510
|
|
|
|
|
|
|||||
Acquisitions
|
|
(378
|
)
|
|
|
|
|
|||||
Developments
|
|
(32
|
)
|
|
|
|
|
|||||
Disposals/Held-for-sale
|
|
(55
|
)
|
|
|
|
|
|||||
Segment transitions
|
|
(113
|
)
|
|
|
|
|
|||||
Other(1)
|
|
(8
|
)
|
|
|
|
|
|||||
Same store properties
|
|
924
|
|
|
|
|
|
•
|
the nature of the estimates or assumptions is material due to the levels of subjectivity and judgment necessary to account for highly uncertain matters or the susceptibility of such matters to change; and
|
•
|
the impact of the estimates and assumptions on financial condition or operating performance is material.
|
|
|
December 31, 2018
|
|
December 31, 2017
|
||||||||||||
|
|
Principal balance
|
|
Fair value change
|
|
Principal balance
|
|
Fair value change
|
||||||||
Senior unsecured notes
|
|
$
|
9,009,159
|
|
|
$
|
(548,558
|
)
|
|
$
|
7,710,219
|
|
|
$
|
(500,951
|
)
|
Secured debt
|
|
1,639,983
|
|
|
(59,522
|
)
|
|
1,749,958
|
|
|
(63,492
|
)
|
||||
Totals
|
|
$
|
10,649,142
|
|
|
$
|
(608,080
|
)
|
|
$
|
9,460,177
|
|
|
$
|
(564,443
|
)
|
|
|
December 31, 2018
|
|
December 31, 2017
|
||||||||||||
|
|
Carrying value
|
|
Fair value change
|
|
Carrying value
|
|
Fair value change
|
||||||||
Foreign currency exchange contracts
|
|
$
|
23,620
|
|
|
$
|
16,163
|
|
|
$
|
23,238
|
|
|
$
|
12,929
|
|
Debt designated as hedges
|
|
1,559,159
|
|
|
15,592
|
|
|
1,620,273
|
|
|
16,203
|
|
||||
Totals
|
|
$
|
1,582,779
|
|
|
$
|
31,755
|
|
|
$
|
1,643,511
|
|
|
$
|
29,132
|
|
|
|
December 31,
2018 |
|
December 31,
2017 |
||||
Assets
|
|
|
||||||
Real estate investments:
|
|
|
|
|
||||
Real property owned:
|
|
|
|
|
||||
Land and land improvements
|
|
$
|
3,205,091
|
|
|
$
|
2,734,467
|
|
Buildings and improvements
|
|
28,019,502
|
|
|
25,373,117
|
|
||
Acquired lease intangibles
|
|
1,581,159
|
|
|
1,502,471
|
|
||
Real property held for sale, net of accumulated depreciation
|
|
590,271
|
|
|
734,147
|
|
||
Construction in progress
|
|
194,365
|
|
|
237,746
|
|
||
Gross real property owned
|
|
33,590,388
|
|
|
30,581,948
|
|
||
Less accumulated depreciation and amortization
|
|
(5,499,958
|
)
|
|
(4,838,370
|
)
|
||
Net real property owned
|
|
28,090,430
|
|
|
25,743,578
|
|
||
Real estate loans receivable
|
|
398,711
|
|
|
495,871
|
|
||
Less allowance for losses on loans receivable
|
|
(68,372
|
)
|
|
(68,372
|
)
|
||
Net real estate loans receivable
|
|
330,339
|
|
|
427,499
|
|
||
Net real estate investments
|
|
28,420,769
|
|
|
26,171,077
|
|
||
Other assets:
|
|
|
|
|
||||
Investments in unconsolidated entities
|
|
482,914
|
|
|
445,585
|
|
||
Goodwill
|
|
68,321
|
|
|
68,321
|
|
||
Cash and cash equivalents
|
|
215,376
|
|
|
243,777
|
|
||
Restricted cash
|
|
100,753
|
|
|
65,526
|
|
||
Straight-line receivable
|
|
367,093
|
|
|
389,168
|
|
||
Receivables and other assets
|
|
686,846
|
|
|
560,991
|
|
||
Total other assets
|
|
1,921,303
|
|
|
1,773,368
|
|
||
Total assets
|
|
$
|
30,342,072
|
|
|
$
|
27,944,445
|
|
|
|
|
|
|
||||
Liabilities and equity
|
|
|
|
|
||||
Liabilities:
|
|
|
|
|
||||
Borrowings under primary unsecured credit facility
|
|
$
|
1,147,000
|
|
|
$
|
719,000
|
|
Senior unsecured notes
|
|
9,603,299
|
|
|
8,331,722
|
|
||
Secured debt
|
|
2,476,177
|
|
|
2,608,976
|
|
||
Capital lease obligations
|
|
70,668
|
|
|
72,238
|
|
||
Accrued expenses and other liabilities
|
|
1,034,283
|
|
|
911,863
|
|
||
Total liabilities
|
|
14,331,427
|
|
|
12,643,799
|
|
||
|
|
|
|
|
||||
Redeemable noncontrolling interests
|
|
424,046
|
|
|
375,194
|
|
||
|
|
|
|
|
||||
Equity:
|
|
|
|
|
||||
Preferred stock
|
|
718,498
|
|
|
718,503
|
|
||
Common stock
|
|
384,465
|
|
|
372,449
|
|
||
Capital in excess of par value
|
|
18,424,368
|
|
|
17,662,681
|
|
||
Treasury stock
|
|
(68,499
|
)
|
|
(64,559
|
)
|
||
Cumulative net income
|
|
6,121,534
|
|
|
5,316,580
|
|
||
Cumulative dividends
|
|
(10,818,557
|
)
|
|
(9,471,712
|
)
|
||
Accumulated other comprehensive income (loss)
|
|
(129,769
|
)
|
|
(111,465
|
)
|
||
Other equity
|
|
294
|
|
|
670
|
|
||
Total Welltower Inc. stockholders’ equity
|
|
14,632,334
|
|
|
14,423,147
|
|
||
Noncontrolling interests
|
|
954,265
|
|
|
502,305
|
|
||
Total equity
|
|
15,586,599
|
|
|
14,925,452
|
|
||
Total liabilities and equity
|
|
$
|
30,342,072
|
|
|
$
|
27,944,445
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
2016
|
||||||
Revenues:
|
|
|
|
|
|
|
||||||
Resident fees and services
|
|
$
|
3,234,852
|
|
|
$
|
2,779,423
|
|
|
$
|
2,504,731
|
|
Rental income
|
|
1,380,422
|
|
|
1,445,871
|
|
|
1,648,815
|
|
|||
Interest income
|
|
55,814
|
|
|
73,811
|
|
|
97,963
|
|
|||
Other income
|
|
29,411
|
|
|
17,536
|
|
|
29,651
|
|
|||
Total revenues
|
|
4,700,499
|
|
|
4,316,641
|
|
|
4,281,160
|
|
|||
Expenses:
|
|
|
|
|
|
|
||||||
Property operating expenses
|
|
2,433,017
|
|
|
2,083,925
|
|
|
1,876,983
|
|
|||
Depreciation and amortization
|
|
950,459
|
|
|
921,720
|
|
|
901,242
|
|
|||
Interest expense
|
|
526,592
|
|
|
484,622
|
|
|
521,345
|
|
|||
General and administrative expenses
|
|
126,383
|
|
|
122,008
|
|
|
155,241
|
|
|||
Transaction costs
|
|
—
|
|
|
—
|
|
|
42,910
|
|
|||
Loss (gain) on derivatives and financial instruments, net
|
|
(4,016
|
)
|
|
2,284
|
|
|
(2,448
|
)
|
|||
Loss (gain) on extinguishment of debt, net
|
|
16,097
|
|
|
37,241
|
|
|
17,214
|
|
|||
Provision for loan losses
|
|
—
|
|
|
62,966
|
|
|
10,215
|
|
|||
Impairment of assets
|
|
115,579
|
|
|
124,483
|
|
|
37,207
|
|
|||
Other expenses
|
|
112,898
|
|
|
177,776
|
|
|
11,998
|
|
|||
Total expenses
|
|
4,277,009
|
|
|
4,017,025
|
|
|
3,571,907
|
|
|||
|
|
|
|
|
|
|
||||||
Income from continuing operations before income taxes and other items
|
|
423,490
|
|
|
299,616
|
|
|
709,253
|
|
|||
Income tax (expense) benefit
|
|
(8,674
|
)
|
|
(20,128
|
)
|
|
19,128
|
|
|||
Income (loss) from unconsolidated entities
|
|
(641
|
)
|
|
(83,125
|
)
|
|
(10,357
|
)
|
|||
Gain (loss) on real estate dispositions, net
|
|
415,575
|
|
|
344,250
|
|
|
364,046
|
|
|||
Income from continuing operations
|
|
829,750
|
|
|
540,613
|
|
|
1,082,070
|
|
|||
|
|
|
|
|
|
|
||||||
Net income
|
|
829,750
|
|
|
540,613
|
|
|
1,082,070
|
|
|||
Less: Preferred stock dividends
|
|
46,704
|
|
|
49,410
|
|
|
65,406
|
|
|||
Less: Preferred stock redemption charge
|
|
—
|
|
|
9,769
|
|
|
—
|
|
|||
Less: Net income (loss) attributable to noncontrolling interests(1)
|
|
24,796
|
|
|
17,839
|
|
|
4,267
|
|
|||
Net income attributable to common stockholders
|
|
$
|
758,250
|
|
|
$
|
463,595
|
|
|
$
|
1,012,397
|
|
|
|
|
|
|
|
|
||||||
Average number of common shares outstanding:
|
|
|
|
|
|
|
||||||
Basic
|
|
373,620
|
|
|
367,237
|
|
|
358,275
|
|
|||
Diluted
|
|
375,250
|
|
|
369,001
|
|
|
360,227
|
|
|||
|
|
|
|
|
|
|
||||||
Earnings per share:
|
|
|
|
|
|
|
||||||
Basic:
|
|
|
|
|
|
|
||||||
Income from continuing operations
|
|
$
|
2.22
|
|
|
$
|
1.47
|
|
|
$
|
3.02
|
|
Net income attributable to common stockholders
|
|
$
|
2.03
|
|
|
$
|
1.26
|
|
|
$
|
2.83
|
|
|
|
|
|
|
|
|
||||||
Diluted:
|
|
|
|
|
|
|
||||||
Income from continuing operations
|
|
$
|
2.21
|
|
|
$
|
1.47
|
|
|
$
|
3.00
|
|
Net income attributable to common stockholders
|
|
$
|
2.02
|
|
|
$
|
1.26
|
|
|
$
|
2.81
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
2016
|
||||||
Net income
|
|
$
|
829,750
|
|
|
$
|
540,613
|
|
|
$
|
1,082,070
|
|
|
|
|
|
|
|
|
||||||
Other comprehensive income (loss):
|
|
|
|
|
|
|
||||||
Unrecognized gain (loss) on equity investments
|
|
—
|
|
|
—
|
|
|
5,120
|
|
|||
Reclassification adjustment for write down of equity investment
|
|
—
|
|
|
(5,120
|
)
|
|
—
|
|
|||
Unrecognized gain (loss) on cash flow hedges
|
|
—
|
|
|
2
|
|
|
1,414
|
|
|||
Unrecognized actuarial gain (loss)
|
|
344
|
|
|
269
|
|
|
190
|
|
|||
Foreign currency translation gain (loss)
|
|
(41,632
|
)
|
|
85,263
|
|
|
(85,557
|
)
|
|||
Total other comprehensive income (loss)
|
|
(41,288
|
)
|
|
80,414
|
|
|
(78,833
|
)
|
|||
|
|
|
|
|
|
|
||||||
Total comprehensive income
|
|
788,462
|
|
|
621,027
|
|
|
1,003,237
|
|
|||
Less: Total comprehensive income (loss) attributable to
noncontrolling interests(1)
|
|
1,812
|
|
|
40,187
|
|
|
6,722
|
|
|||
Total comprehensive income attributable to stockholders
|
|
$
|
786,650
|
|
|
$
|
580,840
|
|
|
$
|
996,515
|
|
(in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated
|
|
|
|
|
|
|
||||||||||||||||||||
|
|
|
|
|
|
Capital in
|
|
|
|
|
|
|
|
Other
|
|
|
|
|
|
|
||||||||||||||||||||
|
|
Preferred
|
|
Common
|
|
Excess of
|
|
Treasury
|
|
Cumulative
|
|
Cumulative
|
|
Comprehensive
|
|
Other
|
|
Noncontrolling
|
|
|
||||||||||||||||||||
|
|
Stock
|
|
Stock
|
|
Par Value
|
|
Stock
|
|
Net Income
|
|
Dividends
|
|
Income (Loss)
|
|
Equity
|
|
Interests
|
|
Total
|
||||||||||||||||||||
Balances at December 31, 2015
|
|
$
|
1,006,250
|
|
|
$
|
354,811
|
|
|
$
|
16,478,300
|
|
|
$
|
(44,372
|
)
|
|
$
|
3,725,772
|
|
|
$
|
(6,846,056
|
)
|
|
$
|
(88,243
|
)
|
|
$
|
4,098
|
|
|
$
|
585,325
|
|
|
$
|
15,175,885
|
|
Comprehensive income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Net income
|
|
|
|
|
|
|
|
|
|
1,077,803
|
|
|
|
|
|
|
|
|
9,277
|
|
|
1,087,080
|
|
|||||||||||||||||
Other comprehensive income (loss)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(81,288
|
)
|
|
|
|
2,455
|
|
|
(78,833
|
)
|
|||||||||||||||||
Total comprehensive income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,008,247
|
|
|||||||||||||||||||
Net change in noncontrolling interests
|
|
|
|
|
|
(51,478
|
)
|
|
|
|
|
|
|
|
|
|
|
|
(121,978
|
)
|
|
(173,456
|
)
|
|||||||||||||||||
Amounts related to issuance of common stock
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
from dividend reinvestment and stock
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
incentive plans, net of forfeitures
|
|
|
|
839
|
|
|
46,938
|
|
|
(10,369
|
)
|
|
|
|
|
|
|
|
(1,305
|
)
|
|
|
|
36,103
|
|
|||||||||||||||
Net proceeds from issuance of common stock
|
|
|
|
7,421
|
|
|
525,931
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
533,352
|
|
|||||||||||||||||
Option compensation expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
266
|
|
|
|
|
266
|
|
||||||||||||||||||
Dividends paid:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Common stock dividends
|
|
|
|
|
|
|
|
|
|
|
|
(1,233,519
|
)
|
|
|
|
|
|
|
|
(1,233,519
|
)
|
||||||||||||||||||
Preferred stock dividends
|
|
|
|
|
|
|
|
|
|
|
|
(65,406
|
)
|
|
|
|
|
|
|
|
(65,406
|
)
|
||||||||||||||||||
Balances at December 31, 2016
|
|
1,006,250
|
|
|
363,071
|
|
|
16,999,691
|
|
|
(54,741
|
)
|
|
4,803,575
|
|
|
(8,144,981
|
)
|
|
(169,531
|
)
|
|
3,059
|
|
|
475,079
|
|
|
15,281,472
|
|
||||||||||
Comprehensive income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Net income
|
|
|
|
|
|
|
|
|
|
522,774
|
|
|
|
|
|
|
|
|
20,819
|
|
|
543,593
|
|
|||||||||||||||||
Other comprehensive income (loss)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
58,066
|
|
|
|
|
22,348
|
|
|
80,414
|
|
|||||||||||||||||
Total comprehensive income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
624,007
|
|
|||||||||||||||||||
Net change in noncontrolling interests
|
|
|
|
|
|
13,473
|
|
|
|
|
|
|
|
|
|
|
|
|
(15,941
|
)
|
|
(2,468
|
)
|
|||||||||||||||||
Amounts related to issuance of common stock
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
from dividend reinvestment and stock
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
incentive plans, net of forfeitures
|
|
|
|
402
|
|
|
21,494
|
|
|
(9,807
|
)
|
|
|
|
|
|
|
|
(2,399
|
)
|
|
|
|
9,690
|
|
|||||||||||||||
Net proceeds from issuance of common stock
|
|
|
|
8,881
|
|
|
612,555
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
621,436
|
|
|||||||||||||||||
Redemption of equity membership units
|
|
|
|
91
|
|
|
5,465
|
|
|
(11
|
)
|
|
|
|
|
|
|
|
|
|
|
|
5,545
|
|
||||||||||||||||
Redemption of preferred stock
|
|
(287,500
|
)
|
|
|
|
9,760
|
|
|
|
|
(9,769
|
)
|
|
|
|
|
|
|
|
|
|
(287,509
|
)
|
||||||||||||||||
Conversion of preferred stock
|
|
(247
|
)
|
|
4
|
|
|
243
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—
|
|
||||||||||||||||
Option compensation expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10
|
|
|
|
|
10
|
|
||||||||||||||||||
Dividends paid:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Common stock dividends
|
|
|
|
|
|
|
|
|
|
|
|
(1,277,321
|
)
|
|
|
|
|
|
|
|
(1,277,321
|
)
|
||||||||||||||||||
Preferred stock dividends
|
|
|
|
|
|
|
|
|
|
|
|
(49,410
|
)
|
|
|
|
|
|
|
|
(49,410
|
)
|
||||||||||||||||||
Balances at December 31, 2017
|
|
718,503
|
|
|
372,449
|
|
|
17,662,681
|
|
|
(64,559
|
)
|
|
5,316,580
|
|
|
(9,471,712
|
)
|
|
(111,465
|
)
|
|
670
|
|
|
502,305
|
|
|
14,925,452
|
|
||||||||||
Comprehensive income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Net income
|
|
|
|
|
|
|
|
|
|
804,954
|
|
|
|
|
|
|
|
|
25,065
|
|
|
830,019
|
|
|||||||||||||||||
Other comprehensive income (loss)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(18,304
|
)
|
|
|
|
(22,984
|
)
|
|
(41,288
|
)
|
|||||||||||||||||
Total comprehensive income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
788,731
|
|
|||||||||||||||||||
Net change in noncontrolling interests
|
|
|
|
|
|
(43,101
|
)
|
|
|
|
|
|
|
|
|
|
|
|
449,879
|
|
|
406,778
|
|
|||||||||||||||||
Amounts related to issuance of common stock
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
from dividend reinvestment and stock
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
incentive plans, net of forfeitures
|
|
|
|
188
|
|
|
28,277
|
|
|
(3,940
|
)
|
|
|
|
|
|
|
|
(376
|
)
|
|
|
|
24,149
|
|
|||||||||||||||
Net proceeds from issuance of common stock
|
|
|
|
11,828
|
|
|
776,506
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
788,334
|
|
|||||||||||||||||
Conversion of preferred stock
|
|
(5
|
)
|
|
|
|
5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|||||||||||||||||
Dividends paid:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Common stock dividends
|
|
|
|
|
|
|
|
|
|
|
|
(1,300,141
|
)
|
|
|
|
|
|
|
|
(1,300,141
|
)
|
||||||||||||||||||
Preferred stock dividends
|
|
|
|
|
|
|
|
|
|
|
|
(46,704
|
)
|
|
|
|
|
|
|
|
(46,704
|
)
|
||||||||||||||||||
Balances at December 31, 2018
|
|
$
|
718,498
|
|
|
$
|
384,465
|
|
|
$
|
18,424,368
|
|
|
$
|
(68,499
|
)
|
|
$
|
6,121,534
|
|
|
$
|
(10,818,557
|
)
|
|
$
|
(129,769
|
)
|
|
$
|
294
|
|
|
$
|
954,265
|
|
|
$
|
15,586,599
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
2016
|
||||||
Operating activities:
|
|
|
|
|
|
|
||||||
Net income
|
|
$
|
829,750
|
|
|
$
|
540,613
|
|
|
$
|
1,082,070
|
|
Adjustments to reconcile net income to net cash provided from (used in) operating
|
|
|
|
|
|
|
||||||
activities:
|
|
|
|
|
|
|
||||||
Depreciation and amortization
|
|
950,459
|
|
|
921,720
|
|
|
901,242
|
|
|||
Other amortization expenses
|
|
17,000
|
|
|
16,521
|
|
|
8,822
|
|
|||
Provision for loan losses
|
|
—
|
|
|
62,966
|
|
|
10,215
|
|
|||
Impairment of assets
|
|
115,579
|
|
|
124,483
|
|
|
37,207
|
|
|||
Stock-based compensation expense
|
|
27,646
|
|
|
19,102
|
|
|
28,869
|
|
|||
Loss (gain) on derivatives and financial instruments, net
|
|
(4,016
|
)
|
|
2,284
|
|
|
(2,448
|
)
|
|||
Loss (gain) on extinguishment of debt, net
|
|
16,097
|
|
|
37,241
|
|
|
17,214
|
|
|||
Loss (income) from unconsolidated entities
|
|
641
|
|
|
83,125
|
|
|
10,357
|
|
|||
Rental income in excess of cash received
|
|
(32,857
|
)
|
|
(80,398
|
)
|
|
(83,233
|
)
|
|||
Amortization related to above (below) market leases, net
|
|
2,608
|
|
|
357
|
|
|
322
|
|
|||
Loss (gain) on real estate dispositions, net
|
|
(415,575
|
)
|
|
(344,250
|
)
|
|
(364,046
|
)
|
|||
Other (income) expense, net
|
|
—
|
|
|
2
|
|
|
(4,853
|
)
|
|||
Distributions by unconsolidated entities
|
|
21
|
|
|
116
|
|
|
1,065
|
|
|||
Increase (decrease) in accrued expenses and other liabilities
|
|
70,762
|
|
|
26,809
|
|
|
14,298
|
|
|||
Decrease (increase) in receivables and other assets
|
|
5,829
|
|
|
23,486
|
|
|
(18,037
|
)
|
|||
Net cash provided from (used in) operating activities
|
|
1,583,944
|
|
|
1,434,177
|
|
|
1,639,064
|
|
|||
|
|
|
|
|
|
|
||||||
Investing activities:
|
|
|
|
|
|
|
||||||
Cash disbursed for acquisitions, net of cash acquired
|
|
(3,560,360
|
)
|
|
(805,264
|
)
|
|
(2,145,374
|
)
|
|||
Cash disbursed for capital improvements to existing properties
|
|
(266,183
|
)
|
|
(250,276
|
)
|
|
(219,146
|
)
|
|||
Cash disbursed for construction in progress
|
|
(160,706
|
)
|
|
(232,715
|
)
|
|
(403,131
|
)
|
|||
Capitalized interest
|
|
(7,905
|
)
|
|
(13,489
|
)
|
|
(16,943
|
)
|
|||
Investment in real estate loans receivable
|
|
(83,048
|
)
|
|
(83,738
|
)
|
|
(129,884
|
)
|
|||
Principal collected on real estate loans receivable
|
|
180,830
|
|
|
96,023
|
|
|
249,552
|
|
|||
Other investments, net of payments
|
|
(50,430
|
)
|
|
57,385
|
|
|
4,760
|
|
|||
Contributions to unconsolidated entities
|
|
(136,854
|
)
|
|
(114,365
|
)
|
|
(101,415
|
)
|
|||
Distributions by unconsolidated entities
|
|
90,916
|
|
|
70,287
|
|
|
119,723
|
|
|||
Proceeds from (payments on) derivatives
|
|
65,399
|
|
|
52,719
|
|
|
108,347
|
|
|||
Proceeds from sales of real property
|
|
1,541,870
|
|
|
1,378,014
|
|
|
2,350,068
|
|
|||
Net cash provided from (used in) investing activities
|
|
(2,386,471
|
)
|
|
154,581
|
|
|
(183,443
|
)
|
|||
|
|
|
|
|
|
|
||||||
Financing activities:
|
|
|
|
|
|
|
||||||
Net increase (decrease) under unsecured credit facilities
|
|
428,000
|
|
|
74,000
|
|
|
(190,000
|
)
|
|||
Proceeds from issuance of senior unsecured notes
|
|
2,824,176
|
|
|
7,500
|
|
|
693,560
|
|
|||
Payments to extinguish senior unsecured notes
|
|
(1,450,000
|
)
|
|
(5,000
|
)
|
|
(865,863
|
)
|
|||
Net proceeds from the issuance of secured debt
|
|
45,447
|
|
|
241,772
|
|
|
460,015
|
|
|||
Payments on secured debt
|
|
(362,841
|
)
|
|
(1,144,346
|
)
|
|
(563,759
|
)
|
|||
Net proceeds from the issuance of common stock
|
|
789,575
|
|
|
621,987
|
|
|
534,194
|
|
|||
Redemption of preferred stock
|
|
—
|
|
|
(287,500
|
)
|
|
—
|
|
|||
Payments for deferred financing costs and prepayment penalties
|
|
(29,691
|
)
|
|
(54,333
|
)
|
|
(22,196
|
)
|
|||
Contributions by noncontrolling interests(1)
|
|
39,207
|
|
|
56,560
|
|
|
148,666
|
|
|||
Distributions to noncontrolling interests(1)
|
|
(109,871
|
)
|
|
(87,711
|
)
|
|
(134,578
|
)
|
|||
Cash distributions to stockholders
|
|
(1,348,863
|
)
|
|
(1,325,617
|
)
|
|
(1,298,925
|
)
|
|||
Other financing activities
|
|
(6,771
|
)
|
|
(10,839
|
)
|
|
(11,931
|
)
|
|||
Net cash provided from (used in) financing activities
|
|
818,368
|
|
|
(1,913,527
|
)
|
|
(1,250,817
|
)
|
|||
Effect of foreign currency translation on cash and cash equivalents and restricted cash
|
|
(9,015
|
)
|
|
26,852
|
|
|
(20,274
|
)
|
|||
Increase (decrease) in cash, cash equivalents and restricted cash
|
|
6,826
|
|
|
(297,917
|
)
|
|
184,530
|
|
|||
Cash, cash equivalents and restricted cash at beginning of period
|
|
309,303
|
|
|
607,220
|
|
|
422,690
|
|
|||
Cash, cash equivalents and restricted cash at end of period
|
|
$
|
316,129
|
|
|
$
|
309,303
|
|
|
$
|
607,220
|
|
|
|
|
|
|
|
|
||||||
Supplemental cash flow information:
|
|
|
|
|
|
|
||||||
Interest paid
|
|
$
|
501,404
|
|
|
$
|
488,265
|
|
|
$
|
541,545
|
|
Income taxes paid
|
|
2,250
|
|
|
10,410
|
|
|
8,011
|
|
•
|
In August 2017, the FASB issued ASU 2017-12, "Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities," which expands and refines hedge accounting for both nonfinancial and financial risk components and aligns the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. It also includes certain targeted improvements to simplify the application of current guidance related to hedge accounting. The early adoption of this standard on April 1, 2018, did not result in a cumulative effect adjustment and all applicable changes for the company were prospectively made. Please refer to Note 11 of the consolidated financial statements for additional detail on this adoption.
|
•
|
In 2017, the FASB issued ASU 2016-02, “Leases (codified under ASC 842),” which requires lessees to recognize assets and liabilities on their consolidated balance sheet related to the rights and obligations created by most leases, while continuing to recognize expenses on their consolidated statements of comprehensive income over the lease term. It will also require disclosures designed to give financial statement users information regarding amount, timing, and uncertainty of cash flows arising from leases. While we are currently evaluating the impact of this adoption, we believe it will likely have a material impact to our consolidated financial statements for the recognition of certain operating leases as right-of-use assets and lease liabilities where we are the lessee. Specifically, we believe the impact to our consolidated financial statements will primarily be attributable to the approximately 139 ground leases and various office and equipment leases which are currently accounted for under ASC 840, "Leases," as operating leases. Future lease payments under these leases total $1,138,046,000.
|
•
|
In 2017, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments.” This standard requires a new forward-looking “expected loss” model to be used for receivables, held-to-maturity debt, loans, and other instruments. ASU 2016-13 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019, and early adoption is permitted for fiscal years beginning after December 15, 2018. We are currently evaluating the impact that the standard will have on our consolidated financial statements.
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
2016
|
||||||
Land and land improvements
|
|
$
|
51,440
|
|
|
$
|
42,525
|
|
|
$
|
164,653
|
|
Buildings and improvements
|
|
621,731
|
|
|
428,777
|
|
|
1,518,472
|
|
|||
Acquired lease intangibles
|
|
69,504
|
|
|
63,912
|
|
|
115,643
|
|
|||
Receivables and other assets
|
|
1,492
|
|
|
3,959
|
|
|
2,462
|
|
|||
Total assets acquired(1)
|
|
744,167
|
|
|
539,173
|
|
|
1,801,230
|
|
|||
Secured debt
|
|
(134,752
|
)
|
|
—
|
|
|
(63,732
|
)
|
|||
Accrued expenses and other liabilities
|
|
(18,463
|
)
|
|
(46,301
|
)
|
|
(23,681
|
)
|
|||
Total liabilities assumed
|
|
(153,215
|
)
|
|
(46,301
|
)
|
|
(87,413
|
)
|
|||
Noncontrolling interests
|
|
(14,390
|
)
|
|
(4,701
|
)
|
|
(6,007
|
)
|
|||
Non-cash acquisition related activity(2)
|
—
|
|
|
(67,633
|
)
|
|
(47,065
|
)
|
||||
Cash disbursed for acquisitions
|
|
576,562
|
|
|
420,538
|
|
|
1,660,745
|
|
|||
Construction in progress additions
|
|
82,621
|
|
|
84,874
|
|
|
157,845
|
|
|||
Capitalized interest
|
|
(3,190
|
)
|
|
(9,106
|
)
|
|
(5,793
|
)
|
|||
Foreign currency translation
|
|
3,934
|
|
|
(6,830
|
)
|
|
(8,500
|
)
|
|||
Cash disbursed for construction in progress
|
|
83,365
|
|
|
68,938
|
|
|
143,552
|
|
|||
Capital improvements to existing properties
|
|
201,001
|
|
|
185,473
|
|
|
138,673
|
|
|||
Total cash invested in real property, net of cash acquired
|
|
$
|
860,928
|
|
|
$
|
674,949
|
|
|
$
|
1,942,970
|
|
|
|
|
Year Ended December 31,
|
|
||||||||||
|
|
|
2018
|
|
2017
|
|
2016
|
|
||||||
Land and land improvements
|
|
$
|
413,588
|
|
|
$
|
33,416
|
|
|
$
|
104,754
|
|
|
|
Buildings and improvements
|
|
2,242,884
|
|
|
248,459
|
|
|
418,633
|
|
|
||||
Acquired lease intangibles
|
|
9,690
|
|
|
—
|
|
|
2,876
|
|
|
||||
Real property held for sale
|
|
396,265
|
|
|
—
|
|
|
—
|
|
|
||||
Receivables and other assets
|
|
1,354
|
|
|
—
|
|
|
551
|
|
|
||||
|
Total assets acquired(1)
|
|
3,063,781
|
|
|
281,875
|
|
|
526,814
|
|
|
|||
Accrued expenses and other liabilities
|
|
(13,199
|
)
|
|
(21,236
|
)
|
|
(3,384
|
)
|
|
||||
|
Total liabilities assumed
|
|
(13,199
|
)
|
|
(21,236
|
)
|
|
(3,384
|
)
|
|
|||
Noncontrolling interests
|
|
(512,741
|
)
|
|
(7,275
|
)
|
|
(26,771
|
)
|
|
||||
Non-cash acquisition related activity(2)
|
|
—
|
|
|
(54,901
|
)
|
|
(51,733
|
)
|
|
||||
|
Cash disbursed for acquisitions
|
|
2,537,841
|
|
|
198,463
|
|
|
444,926
|
|
|
|||
Construction in progress additions
|
|
55,558
|
|
|
120,797
|
|
|
181,084
|
|
|
||||
Capitalized interest
|
|
(2,238
|
)
|
|
(4,713
|
)
|
|
(8,729
|
)
|
|
||||
Foreign currency translation
|
|
272
|
|
|
(610
|
)
|
|
(3,665
|
)
|
|
||||
Cash disbursed for construction in progress
|
|
53,592
|
|
|
115,474
|
|
|
168,690
|
|
|
||||
Capital improvements to existing properties
|
|
10,046
|
|
|
19,989
|
|
|
32,603
|
|
|
||||
|
Total cash invested in real property, net of cash acquired
|
|
$
|
2,601,479
|
|
|
$
|
333,926
|
|
|
$
|
646,219
|
|
|
|
|
Year Ended December 31,
|
|||||||||||
|
|
2018
|
|
2017
|
|
2016
|
|
||||||
Land and land improvements
|
|
$
|
77,239
|
|
|
$
|
40,565
|
|
|
$
|
5,738
|
|
|
Buildings and improvements
|
|
478,740
|
|
|
159,643
|
|
|
46,056
|
|
|
|||
Acquired lease intangibles
|
|
50,813
|
|
|
24,014
|
|
|
4,592
|
|
|
|||
Real property held for sale
|
|
22,032
|
|
|
—
|
|
|
—
|
|
|
|||
Receivables and other assets
|
|
1,185
|
|
|
10
|
|
|
—
|
|
|
|||
Total assets acquired(1)
|
|
630,009
|
|
|
224,232
|
|
|
56,386
|
|
|
|||
Secured debt
|
|
(169,156
|
)
|
|
(25,708
|
)
|
|
—
|
|
|
|||
Accrued expenses and other liabilities
|
|
(14,896
|
)
|
|
(3,181
|
)
|
|
(1,670
|
)
|
|
|||
Total liabilities assumed
|
|
(184,052
|
)
|
|
(28,889
|
)
|
|
(1,670
|
)
|
|
|||
Noncontrolling interests
|
|
—
|
|
|
(9,080
|
)
|
|
—
|
|
|
|||
Non-cash acquisition related activity(2)
|
|
—
|
|
|
—
|
|
|
(15,013
|
)
|
|
|||
Cash disbursed for acquisitions
|
|
445,957
|
|
|
186,263
|
|
|
39,703
|
|
|
|||
Construction in progress additions
|
|
26,565
|
|
|
37,094
|
|
|
113,933
|
|
|
|||
Capitalized interest
|
|
(2,477
|
)
|
|
(2,406
|
)
|
|
(3,723
|
)
|
|
|||
Accruals(3)
|
|
(339
|
)
|
|
13,615
|
|
|
(19,321
|
)
|
|
|||
Cash disbursed for construction in progress
|
|
23,749
|
|
|
48,303
|
|
|
90,889
|
|
|
|||
Capital improvements to existing properties
|
|
55,136
|
|
|
44,814
|
|
|
47,870
|
|
|
|||
Total cash invested in real property, net of cash acquired
|
|
$
|
524,842
|
|
|
$
|
279,380
|
|
|
$
|
178,462
|
|
|
|
|
Year Ended
|
||||||||||
|
|
December 31, 2018
|
|
December 31, 2017
|
|
December 31, 2016
|
||||||
Development projects:
|
|
|
|
|
|
|
||||||
Seniors Housing Operating
|
|
$
|
86,931
|
|
|
$
|
3,634
|
|
|
$
|
18,979
|
|
Triple-net
|
|
90,055
|
|
|
283,472
|
|
|
46,094
|
|
|||
Outpatient Medical
|
|
11,358
|
|
|
63,036
|
|
|
108,001
|
|
|||
Total development projects
|
|
188,344
|
|
|
350,142
|
|
|
173,074
|
|
|||
Expansion projects
|
|
20,029
|
|
|
10,336
|
|
|
11,363
|
|
|||
Total construction in progress conversions
|
|
$
|
208,373
|
|
|
$
|
360,478
|
|
|
$
|
184,437
|
|
2019
|
|
$
|
1,309,186
|
|
2020
|
|
1,275,683
|
|
|
2021
|
|
1,245,611
|
|
|
2022
|
|
1,222,519
|
|
|
2023
|
|
1,171,081
|
|
|
Thereafter
|
|
9,359,018
|
|
|
Totals
|
|
$
|
15,583,098
|
|
|
|
December 31, 2018
|
|
December 31, 2017
|
||||
Assets:
|
|
|
|
|
||||
In place lease intangibles
|
|
$
|
1,410,725
|
|
|
$
|
1,352,139
|
|
Above market tenant leases
|
|
63,935
|
|
|
58,443
|
|
||
Below market ground leases
|
|
64,513
|
|
|
58,784
|
|
||
Lease commissions
|
|
41,986
|
|
|
33,105
|
|
||
Gross historical cost
|
|
1,581,159
|
|
|
1,502,471
|
|
||
Accumulated amortization
|
|
(1,197,336
|
)
|
|
(1,125,437
|
)
|
||
Net book value
|
|
$
|
383,823
|
|
|
$
|
377,034
|
|
|
|
|
|
|
||||
Weighted-average amortization period in years
|
|
16.0
|
|
|
15.1
|
|
||
|
|
|
|
|
||||
Liabilities:
|
|
|
|
|
||||
Below market tenant leases
|
|
$
|
81,676
|
|
|
$
|
60,430
|
|
Above market ground leases
|
|
8,540
|
|
|
8,540
|
|
||
Gross historical cost
|
|
90,216
|
|
|
68,970
|
|
||
Accumulated amortization
|
|
(44,266
|
)
|
|
(39,629
|
)
|
||
Net book value
|
|
$
|
45,950
|
|
|
$
|
29,341
|
|
|
|
|
|
|
||||
Weighted-average amortization period in years
|
|
14.7
|
|
|
20.1
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
2016
|
||||||
Rental income related to (above)/below market tenant leases, net
|
|
$
|
(1,269
|
)
|
|
$
|
875
|
|
|
$
|
919
|
|
Property operating expenses related to above/(below) market ground leases, net
|
|
(1,339
|
)
|
|
(1,231
|
)
|
|
(1,241
|
)
|
|||
Depreciation and amortization related to in place lease intangibles and lease commissions
|
|
(122,515
|
)
|
|
(145,132
|
)
|
|
(132,141
|
)
|
|
|
Assets
|
|
Liabilities
|
||||
2019
|
|
$
|
97,199
|
|
|
$
|
7,005
|
|
2020
|
|
62,641
|
|
|
6,475
|
|
||
2021
|
|
29,855
|
|
|
5,838
|
|
||
2022
|
|
24,270
|
|
|
5,300
|
|
||
2023
|
|
20,304
|
|
|
3,440
|
|
||
Thereafter
|
|
149,554
|
|
|
17,892
|
|
||
Totals
|
|
$
|
383,823
|
|
|
$
|
45,950
|
|
|
|
Year Ended
|
||||||||||
|
|
December 31, 2018
|
|
December 31, 2017
|
|
December 31, 2016
|
||||||
Real property dispositions:
|
|
|
|
|
|
|
||||||
Seniors Housing Operating
|
|
$
|
36,627
|
|
|
$
|
74,832
|
|
|
$
|
—
|
|
Triple-net
|
|
835,093
|
|
|
916,689
|
|
|
1,773,614
|
|
|||
Outpatient Medical
|
|
253,397
|
|
|
19,697
|
|
|
78,786
|
|
|||
Total dispositions
|
|
1,125,117
|
|
|
1,011,218
|
|
|
1,852,400
|
|
|||
Gain (loss) on sales of real property, net
|
|
415,575
|
|
|
344,250
|
|
|
364,046
|
|
|||
Net other assets (liabilities) disposed
|
|
1,178
|
|
|
22,546
|
|
|
133,622
|
|
|||
Proceeds from real property sales
|
|
$
|
1,541,870
|
|
|
$
|
1,378,014
|
|
|
$
|
2,350,068
|
|
|
|
Year Ended
December 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
2016
|
||||||
Revenues:
|
|
|
|
|
|
|
||||||
Total revenues
|
|
$
|
148,725
|
|
|
$
|
275,087
|
|
|
$
|
565,450
|
|
Expenses:
|
|
|
|
|
|
|
||||||
Interest expense
|
|
294
|
|
|
6,655
|
|
|
52,675
|
|
|||
Property operating expenses
|
|
81,698
|
|
|
81,182
|
|
|
89,666
|
|
|||
Provision for depreciation
|
|
16,900
|
|
|
55,294
|
|
|
122,153
|
|
|||
Total expenses
|
|
98,892
|
|
|
143,131
|
|
|
264,494
|
|
|||
Income (loss) from real estate dispositions, net
|
|
$
|
49,833
|
|
|
$
|
131,956
|
|
|
$
|
300,956
|
|
|
|
December 31,
|
||||||
|
|
2018
|
|
2017
|
||||
Mortgage loans
|
|
$
|
317,443
|
|
|
$
|
374,492
|
|
Other real estate loans
|
|
81,268
|
|
|
121,379
|
|
||
Totals
|
|
$
|
398,711
|
|
|
$
|
495,871
|
|
|
|
Year Ended
|
||||||||||||||||||||||||||||||||||||||
|
|
December 31, 2018
|
|
December 31, 2017
|
|
December 31, 2016
|
||||||||||||||||||||||||||||||||||
|
|
Seniors
Housing
Operating
|
|
Triple-net
|
|
Outpatient
Medical
|
|
Totals
|
|
Triple-net
|
|
Outpatient
Medical
|
|
Totals
|
|
Triple-net
|
|
Outpatient
Medical
|
|
Totals
|
||||||||||||||||||||
Advances on real estate loans receivable:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Investments in new loans
|
|
$
|
11,806
|
|
|
$
|
13,062
|
|
|
$
|
23,421
|
|
|
$
|
48,289
|
|
|
$
|
12,091
|
|
|
$
|
—
|
|
|
$
|
12,091
|
|
|
$
|
8,445
|
|
|
$
|
—
|
|
|
$
|
8,445
|
|
Draws on existing loans
|
|
—
|
|
|
34,759
|
|
|
—
|
|
|
34,759
|
|
|
71,647
|
|
|
—
|
|
|
71,647
|
|
|
118,788
|
|
|
2,651
|
|
|
121,439
|
|
||||||||||
Net cash advances on real estate loans
|
|
11,806
|
|
|
47,822
|
|
|
23,421
|
|
|
83,048
|
|
|
83,738
|
|
|
—
|
|
|
83,738
|
|
|
127,233
|
|
|
2,651
|
|
|
129,884
|
|
||||||||||
Receipts on real estate loans receivable:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Loan payoffs
|
|
15,000
|
|
|
116,161
|
|
|
—
|
|
|
131,161
|
|
|
157,912
|
|
|
60,500
|
|
|
218,412
|
|
|
275,439
|
|
|
27,303
|
|
|
302,742
|
|
||||||||||
Principal payments on loans
|
|
—
|
|
|
49,669
|
|
|
—
|
|
|
49,669
|
|
|
1,219
|
|
|
—
|
|
|
1,219
|
|
|
6,867
|
|
|
—
|
|
|
6,867
|
|
||||||||||
Sub-total
|
|
15,000
|
|
|
165,830
|
|
|
—
|
|
|
180,830
|
|
|
159,131
|
|
|
60,500
|
|
|
219,631
|
|
|
282,306
|
|
|
27,303
|
|
|
309,609
|
|
||||||||||
Less: Non-cash activity(1)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(63,108
|
)
|
|
(60,500
|
)
|
|
(123,608
|
)
|
|
(45,044
|
)
|
|
(15,013
|
)
|
|
(60,057
|
)
|
||||||||||
Net cash receipts on real estate loans
|
|
15,000
|
|
|
165,830
|
|
|
—
|
|
|
180,830
|
|
|
96,023
|
|
|
—
|
|
|
96,023
|
|
|
237,262
|
|
|
12,290
|
|
|
249,552
|
|
||||||||||
Net cash advances (receipts) on real estate loans
|
|
$
|
(3,194
|
)
|
|
$
|
(118,008
|
)
|
|
$
|
23,421
|
|
|
$
|
(97,781
|
)
|
|
$
|
(12,285
|
)
|
|
$
|
—
|
|
|
$
|
(12,285
|
)
|
|
$
|
(110,029
|
)
|
|
$
|
(9,639
|
)
|
|
$
|
(119,668
|
)
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
2016
|
||||||
Balance at beginning of year
|
|
$
|
68,372
|
|
|
$
|
6,563
|
|
|
$
|
—
|
|
Provision for loan losses(1)
|
|
—
|
|
|
62,966
|
|
|
6,935
|
|
|||
Change in present value
|
|
—
|
|
|
(1,157
|
)
|
|
(372
|
)
|
|||
Balance at end of year
|
|
$
|
68,372
|
|
|
$
|
68,372
|
|
|
$
|
6,563
|
|
|
|
Percentage Ownership(1)
|
|
December 31, 2018
|
|
December 31, 2017
|
||||
Seniors Housing Operating
|
|
10% to 50%
|
|
$
|
344,982
|
|
|
$
|
352,430
|
|
Triple-net
|
|
10% to 49%
|
|
34,284
|
|
|
22,856
|
|
||
Outpatient Medical
|
|
43% to 50%
|
|
103,648
|
|
|
70,299
|
|
||
Total
|
|
|
|
$
|
482,914
|
|
|
$
|
445,585
|
|
|
|
Number of
|
|
Total
|
|
Percent of
|
|||
Concentration by relationship:(1)
|
|
Properties
|
|
NOI
|
|
NOI(2)
|
|||
Sunrise Senior Living(3)
|
|
161
|
|
|
$
|
335,456
|
|
|
15%
|
Revera(3)
|
|
98
|
|
|
154,194
|
|
|
7%
|
|
Brookdale Senior Living
|
|
102
|
|
|
142,768
|
|
|
6%
|
|
Genesis HealthCare
|
|
87
|
|
|
137,054
|
|
|
6%
|
|
Benchmark Senior Living
|
|
48
|
|
|
99,439
|
|
|
4%
|
|
Remaining portfolio
|
|
1,014
|
|
|
1,398,571
|
|
|
62%
|
|
Totals
|
|
1,510
|
|
|
$
|
2,267,482
|
|
|
100%
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
2016
|
||||||
Balance outstanding at year end
|
|
$
|
1,147,000
|
|
|
$
|
719,000
|
|
|
$
|
645,000
|
|
Maximum amount outstanding at any month end
|
|
$
|
2,148,000
|
|
|
$
|
1,010,000
|
|
|
$
|
1,560,000
|
|
Average amount outstanding (total of daily principal balances
|
|
|
|
|
|
|
||||||
divided by days in period)
|
|
$
|
950,581
|
|
|
$
|
597,422
|
|
|
$
|
762,896
|
|
Weighted-average interest rate (actual interest expense divided
|
|
|
|
|
|
|
||||||
by average borrowings outstanding)
|
|
3.07
|
%
|
|
2.02
|
%
|
|
1.39
|
%
|
|
|
Senior
Unsecured Notes(1,2)
|
|
Secured
Debt (1,3)
|
|
Totals
|
||||||
2019
|
|
$
|
600,000
|
|
|
$
|
508,899
|
|
|
$
|
1,108,899
|
|
2020(4)
|
|
677,489
|
|
|
138,288
|
|
|
815,777
|
|
|||
2021
|
|
450,000
|
|
|
369,124
|
|
|
819,124
|
|
|||
2022
|
|
600,000
|
|
|
280,418
|
|
|
880,418
|
|
|||
2023(5,6)
|
|
1,783,325
|
|
|
325,371
|
|
|
2,108,696
|
|
|||
Thereafter(7,8)
|
|
5,589,170
|
|
|
863,611
|
|
|
6,452,781
|
|
|||
Totals
|
|
$
|
9,699,984
|
|
|
$
|
2,485,711
|
|
|
$
|
12,185,695
|
|
|
|
Year Ended
|
||||||||||||||||
|
|
December 31, 2018
|
|
December 31, 2017
|
|
December 31, 2016
|
||||||||||||
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
||||||
|
|
Amount
|
|
Interest Rate
|
|
Amount
|
|
Interest Rate
|
|
Amount
|
|
Interest Rate
|
||||||
Beginning balance
|
|
$
|
8,417,447
|
|
|
4.31%
|
|
$
|
8,260,038
|
|
|
4.25%
|
|
$
|
8,645,758
|
|
|
4.24%
|
Debt issued
|
|
2,850,000
|
|
|
4.57%
|
|
7,500
|
|
|
1.97%
|
|
705,000
|
|
|
4.23%
|
|||
Debt extinguished
|
|
(1,450,000
|
)
|
|
3.46%
|
|
(5,000
|
)
|
|
1.83%
|
|
(850,000
|
)
|
|
4.19%
|
|||
Foreign currency
|
|
(117,463
|
)
|
|
4.16%
|
|
154,909
|
|
|
4.29%
|
|
(240,720
|
)
|
|
4.57%
|
|||
Ending balance
|
|
$
|
9,699,984
|
|
|
4.48%
|
|
$
|
8,417,447
|
|
|
4.31%
|
|
$
|
8,260,038
|
|
|
4.25%
|
|
|
Year Ended
|
||||||||||||||||
|
|
December 31, 2018
|
|
December 31, 2017
|
|
December 31, 2016
|
||||||||||||
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
||||||
|
|
Amount
|
|
Interest Rate
|
|
Amount
|
|
Interest Rate
|
|
Amount
|
|
Interest Rate
|
||||||
Beginning balance
|
|
$
|
2,618,408
|
|
|
3.76%
|
|
$
|
3,465,066
|
|
|
4.09%
|
|
$
|
3,478,207
|
|
|
4.44%
|
Debt issued
|
|
45,447
|
|
|
3.40%
|
|
241,772
|
|
|
2.82%
|
|
460,015
|
|
|
2.65%
|
|||
Debt assumed
|
|
292,887
|
|
|
4.64%
|
|
23,094
|
|
|
6.67%
|
|
60,898
|
|
|
4.30%
|
|||
Debt extinguished
|
|
(306,553
|
)
|
|
5.36%
|
|
(1,080,268
|
)
|
|
5.25%
|
|
(489,293
|
)
|
|
5.11%
|
|||
Debt deconsolidated
|
|
—
|
|
|
—%
|
|
(60,000
|
)
|
|
3.80%
|
|
—
|
|
|
—%
|
|||
Principal payments
|
|
(56,288
|
)
|
|
3.91%
|
|
(64,078
|
)
|
|
4.34%
|
|
(74,466
|
)
|
|
4.66%
|
|||
Foreign currency
|
|
(108,190
|
)
|
|
3.33%
|
|
92,822
|
|
|
3.16%
|
|
29,705
|
|
|
3.67%
|
|||
Ending balance
|
|
$
|
2,485,711
|
|
|
3.90%
|
|
$
|
2,618,408
|
|
|
3.76%
|
|
$
|
3,465,066
|
|
|
4.09%
|
|
|
December 31, 2018
|
|
December 31, 2017
|
||||
Derivatives designated as net investment hedges:
|
|
|
|
|
||||
Denominated in Canadian Dollars
|
|
$
|
575,000
|
|
|
$
|
575,000
|
|
Denominated in Pounds Sterling
|
|
£
|
890,708
|
|
|
£
|
550,000
|
|
|
|
|
|
|
||||
Financial instruments designated as net investment hedges:
|
|
|
|
|
||||
Denominated in Canadian Dollars
|
|
$
|
250,000
|
|
|
$
|
250,000
|
|
Denominated in Pounds Sterling
|
|
£
|
1,050,000
|
|
|
£
|
1,050,000
|
|
|
|
|
|
|
||||
Derivatives designated as cash flow hedges:
|
|
|
|
|
||||
Denominated in Canadian Dollars
|
|
$
|
—
|
|
|
$
|
36,000
|
|
|
|
|
|
|
||||
Derivative instruments not designated:
|
|
|
|
|
||||
Interest rate caps denominated in U.S. Dollars
|
|
$
|
405,819
|
|
|
$
|
408,007
|
|
Forward purchase contracts denominated in Canadian Dollars
|
|
$
|
(325,000
|
)
|
|
$
|
—
|
|
Forward sales contracts denominated in Canadian Dollars
|
|
$
|
405,000
|
|
|
$
|
80,000
|
|
Forward purchase contracts denominated in Pounds Sterling
|
|
£
|
(350,000
|
)
|
|
£
|
—
|
|
Forward sales contracts denominated in Pounds Sterling
|
|
£
|
350,000
|
|
|
£
|
—
|
|
|
|
|
|
Year Ended
|
||||||||||
|
|
Location
|
|
December 31, 2018
|
|
December 31, 2017
|
|
December 31, 2016
|
||||||
Gain (loss) on derivative instruments designated as hedges recognized in income
|
|
Interest expense
|
|
$
|
12,271
|
|
|
$
|
(2,476
|
)
|
|
$
|
7,871
|
|
Gain (loss) on derivative instruments not designated as hedges recognized in income
|
|
Interest expense
|
|
$
|
5,233
|
|
|
$
|
(49
|
)
|
|
$
|
673
|
|
Gain on release of cumulative translation adjustment related to ineffectiveness on net investment hedge
|
|
Loss (gain) on derivatives, net
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
(2,516
|
)
|
Gain (loss) on foreign exchange contracts and term loans designated as net investment hedge recognized in OCI
|
|
OCI
|
|
$
|
211,390
|
|
|
$
|
(252,168
|
)
|
|
$
|
357,021
|
|
|
|
Operating Leases
|
|
Capital Leases(1)
|
||||
2019
|
|
$
|
18,242
|
|
|
$
|
4,173
|
|
2020
|
|
17,785
|
|
|
4,173
|
|
||
2021
|
|
17,607
|
|
|
4,173
|
|
||
2022
|
|
16,961
|
|
|
4,173
|
|
||
2023
|
|
17,004
|
|
|
67,573
|
|
||
Thereafter
|
|
1,050,447
|
|
|
—
|
|
||
Totals
|
|
$
|
1,138,046
|
|
|
$
|
84,265
|
|
|
|
December 31, 2018
|
|
December 31, 2017
|
||
Preferred Stock, $1.00 par value:
|
|
|
|
|
||
Authorized shares
|
|
50,000,000
|
|
|
50,000,000
|
|
Issued shares
|
|
14,375,000
|
|
|
14,375,000
|
|
Outstanding shares
|
|
14,369,965
|
|
|
14,370,060
|
|
Common Stock, $1.00 par value:
|
|
|
|
|
||
Authorized shares
|
|
700,000,000
|
|
|
700,000,000
|
|
Issued shares
|
|
384,849,236
|
|
|
372,852,311
|
|
Outstanding shares
|
|
383,674,603
|
|
|
371,731,551
|
|
|
|
Year Ended
|
|||||||||||||
|
|
December 31, 2018
|
|
December 31, 2017
|
|
December 31, 2016
|
|||||||||
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
|||
|
|
Shares
|
|
Dividend Rate
|
|
Shares
|
|
Dividend Rate
|
|
Shares
|
|
Dividend Rate
|
|||
Beginning balance
|
|
14,370,060
|
|
|
6.50%
|
|
25,875,000
|
|
|
6.50%
|
|
25,875,000
|
|
|
6.50%
|
Shares redeemed
|
|
—
|
|
|
—%
|
|
(11,500,000
|
)
|
|
6.50%
|
|
—
|
|
|
—%
|
Shares converted
|
|
(95
|
)
|
|
6.50%
|
|
(4,940
|
)
|
|
6.50%
|
|
—
|
|
|
—%
|
Ending balance
|
|
14,369,965
|
|
|
6.50%
|
|
14,370,060
|
|
|
6.50%
|
|
25,875,000
|
|
|
6.50%
|
|
|
Shares Issued
|
|
Average Price
|
|
Gross Proceeds
|
|
Net Proceeds
|
|||||
2016 Dividend reinvestment plan issuances
|
|
4,145,457
|
|
|
$70.40
|
|
$
|
291,852
|
|
|
$
|
291,571
|
|
2016 Option exercises
|
|
141,405
|
|
|
47.13
|
|
6,664
|
|
|
6,664
|
|
||
2016 Equity Shelf Program issuances
|
|
3,134,901
|
|
|
76.01
|
|
238,286
|
|
|
235,959
|
|
||
2016 Stock incentive plans, net of forfeitures
|
|
402,740
|
|
|
|
|
—
|
|
|
—
|
|
||
2016 Totals
|
|
7,824,503
|
|
|
|
|
$
|
536,802
|
|
|
$
|
534,194
|
|
|
|
|
|
|
|
|
|
|
|||||
2017 Dividend reinvestment plan issuances
|
|
5,640,008
|
|
|
$70.13
|
|
$
|
395,526
|
|
|
$
|
394,639
|
|
2017 Option exercises
|
|
252,979
|
|
|
51.16
|
|
12,942
|
|
|
12,942
|
|
||
2017 Equity Shelf Program issuances
|
|
2,986,574
|
|
|
72.30
|
|
215,917
|
|
|
214,406
|
|
||
2017 Preferred stock conversions
|
|
4,300
|
|
|
|
|
—
|
|
|
—
|
|
||
2017 Redemption of equity membership units
|
|
91,180
|
|
|
|
|
—
|
|
|
—
|
|
||
2017 Stock incentive plans, net of forfeitures
|
|
154,337
|
|
|
|
|
—
|
|
|
—
|
|
||
2017 Totals
|
|
9,129,378
|
|
|
|
|
$
|
624,385
|
|
|
$
|
621,987
|
|
|
|
|
|
|
|
|
|
|
|||||
2018 Dividend reinvestment plan issuances
|
|
6,529,417
|
|
|
$65.55
|
|
$
|
428,009
|
|
|
$
|
423,075
|
|
2018 Option exercises
|
|
56,960
|
|
|
42.66
|
|
2,430
|
|
|
2,430
|
|
||
2018 Equity Shelf Program issuances
|
|
5,241,349
|
|
|
69.95
|
|
366,640
|
|
|
364,070
|
|
||
2018 Preferred stock conversions
|
|
83
|
|
|
|
|
—
|
|
|
—
|
|
||
2018 Stock incentive plans, net of forfeitures
|
|
115,243
|
|
|
|
|
—
|
|
|
—
|
|
||
2018 Totals
|
|
11,943,052
|
|
|
|
|
$
|
797,079
|
|
|
$
|
789,575
|
|
|
|
Year Ended
|
||||||||||||||||||||||
|
|
December 31, 2018
|
|
December 31, 2017
|
|
December 31, 2016
|
||||||||||||||||||
|
|
Per Share
|
|
Amount
|
|
Per Share
|
|
Amount
|
|
Per Share
|
|
Amount
|
||||||||||||
Common Stock
|
|
$
|
3.4800
|
|
|
$
|
1,300,141
|
|
|
$
|
3.4800
|
|
|
$
|
1,277,321
|
|
|
$
|
3.4400
|
|
|
$
|
1,233,519
|
|
Series I Preferred Stock
|
|
3.2500
|
|
|
46,704
|
|
|
3.2500
|
|
|
46,711
|
|
|
3.2500
|
|
|
46,719
|
|
||||||
Series J Preferred Stock
|
|
—
|
|
|
—
|
|
|
0.2347
|
|
|
2,699
|
|
|
1.6251
|
|
|
18,687
|
|
||||||
Totals
|
|
|
|
$
|
1,346,845
|
|
|
|
|
$
|
1,326,731
|
|
|
|
|
$
|
1,298,925
|
|
|
|
Unrecognized gains (losses) related to:
|
|
|
||||||||||||||||
|
|
Foreign Currency Translation
|
|
Available for Sale Securities
|
|
Actuarial losses
|
|
Cash Flow Hedges
|
|
Total
|
||||||||||
Balance at December 31, 2017
|
|
$
|
(110,581
|
)
|
|
$
|
—
|
|
|
$
|
(884
|
)
|
|
$
|
—
|
|
|
$
|
(111,465
|
)
|
Other comprehensive income (loss)
|
|
(18,648
|
)
|
|
—
|
|
|
344
|
|
|
—
|
|
|
(18,304
|
)
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net current-period other comprehensive income (loss)
|
|
(18,648
|
)
|
|
—
|
|
|
344
|
|
|
—
|
|
|
(18,304
|
)
|
|||||
Balance at December 31, 2018
|
|
$
|
(129,229
|
)
|
|
$
|
—
|
|
|
$
|
(540
|
)
|
|
$
|
—
|
|
|
$
|
(129,769
|
)
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Balance at December 31, 2016
|
|
$
|
(173,496
|
)
|
|
$
|
5,120
|
|
|
$
|
(1,153
|
)
|
|
$
|
(2
|
)
|
|
$
|
(169,531
|
)
|
Other comprehensive income (loss) before reclassification adjustments
|
|
62,915
|
|
|
—
|
|
|
269
|
|
|
2
|
|
|
63,186
|
|
|||||
Reclassification adjustment for write down of equity investment
|
|
—
|
|
|
(5,120
|
)
|
|
—
|
|
|
—
|
|
|
(5,120
|
)
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net current-period other comprehensive income (loss)
|
|
62,915
|
|
|
(5,120
|
)
|
|
269
|
|
|
2
|
|
|
58,066
|
|
|||||
Balance at December 31, 2017
|
|
$
|
(110,581
|
)
|
|
$
|
—
|
|
|
$
|
(884
|
)
|
|
$
|
—
|
|
|
$
|
(111,465
|
)
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
2016
|
||||||
Stock options
|
|
$
|
—
|
|
|
$
|
10
|
|
|
$
|
266
|
|
Restricted stock
|
|
27,646
|
|
|
19,092
|
|
|
28,603
|
|
|||
|
|
$
|
27,646
|
|
|
$
|
19,102
|
|
|
$
|
28,869
|
|
|
|
Restricted Stock
|
|||||
|
|
Number of
Shares
(000's)
|
|
Weighted-Average
Grant Date
Fair Value
|
|||
Non-vested at December 31, 2017
|
|
698
|
|
|
$
|
61.00
|
|
Vested
|
|
(166
|
)
|
|
63.88
|
|
|
Granted
|
|
723
|
|
|
54.16
|
|
|
Terminated
|
|
(35
|
)
|
|
60.90
|
|
|
Non-vested at December 31, 2018
|
|
1,220
|
|
|
$
|
62.56
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
2016
|
||||||
Numerator for basic and diluted earnings per share -
|
|
|
|
|
|
|
||||||
net income attributable to common stockholders
|
|
$
|
758,250
|
|
|
$
|
463,595
|
|
|
$
|
1,012,397
|
|
|
|
|
|
|
|
|
||||||
Denominator for basic earnings per
|
|
|
|
|
|
|
||||||
share: weighted-average shares
|
|
373,620
|
|
|
367,237
|
|
|
358,275
|
|
|||
Effect of dilutive securities:
|
|
|
|
|
|
|
||||||
Employee stock options
|
|
9
|
|
|
47
|
|
|
110
|
|
|||
Non-vested restricted shares
|
|
512
|
|
|
482
|
|
|
449
|
|
|||
Redeemable shares
|
|
1,096
|
|
|
1,235
|
|
|
1,393
|
|
|||
Employee stock purchase program
|
|
13
|
|
|
—
|
|
|
—
|
|
|||
Dilutive potential common shares
|
|
1,630
|
|
|
1,764
|
|
|
1,952
|
|
|||
Denominator for diluted earnings per
|
|
|
|
|
|
|
||||||
share: adjusted-weighted average shares
|
|
375,250
|
|
|
369,001
|
|
|
360,227
|
|
|||
|
|
|
|
|
|
|
||||||
Basic earnings per share
|
|
$
|
2.03
|
|
|
$
|
1.26
|
|
|
$
|
2.83
|
|
Diluted earnings per share
|
|
$
|
2.02
|
|
|
$
|
1.26
|
|
|
$
|
2.81
|
|
•
|
Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
|
•
|
Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
|
|
|
December 31, 2018
|
|
December 31, 2017
|
||||||||||||
|
|
Carrying
|
|
Fair
|
|
Carrying
|
|
Fair
|
||||||||
|
|
Amount
|
|
Value
|
|
Amount
|
|
Value
|
||||||||
Financial assets:
|
|
|
|
|
|
|
|
|
||||||||
Mortgage loans receivable
|
|
$
|
249,071
|
|
|
$
|
257,337
|
|
|
$
|
306,120
|
|
|
$
|
332,508
|
|
Other real estate loans receivable
|
|
81,268
|
|
|
82,742
|
|
|
121,379
|
|
|
125,480
|
|
||||
Equity securities
|
|
11,286
|
|
|
11,286
|
|
|
7,269
|
|
|
7,269
|
|
||||
Cash and cash equivalents
|
|
215,376
|
|
|
215,376
|
|
|
243,777
|
|
|
243,777
|
|
||||
Restricted cash
|
|
100,753
|
|
|
100,753
|
|
|
65,526
|
|
|
65,526
|
|
||||
Foreign currency forward contracts and cross currency swaps
|
|
94,729
|
|
|
94,729
|
|
|
15,604
|
|
|
15,604
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Financial liabilities:
|
|
|
|
|
|
|
|
|
||||||||
Borrowings under unsecured credit facilities
|
|
$
|
1,147,000
|
|
|
$
|
1,147,000
|
|
|
$
|
719,000
|
|
|
$
|
719,000
|
|
Senior unsecured notes
|
|
9,603,299
|
|
|
10,043,797
|
|
|
8,331,722
|
|
|
9,168,432
|
|
||||
Secured debt
|
|
2,476,177
|
|
|
2,499,130
|
|
|
2,608,976
|
|
|
2,641,997
|
|
||||
Foreign currency forward contracts and cross currency swaps
|
|
71,109
|
|
|
71,109
|
|
|
38,654
|
|
|
38,654
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Redeemable OP unitholder interests
|
|
$
|
103,071
|
|
|
$
|
103,071
|
|
|
$
|
97,476
|
|
|
$
|
97,476
|
|
|
|
Fair Value Measurements as of December 31, 2018
|
||||||||||||||
|
|
Total
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||
Equity securities
|
|
$
|
11,286
|
|
|
$
|
11,286
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Foreign currency forward contracts and cross currency swaps, net asset (liability)(1)
|
|
23,620
|
|
|
—
|
|
|
23,620
|
|
|
—
|
|
||||
Redeemable OP unitholder interests
|
|
103,071
|
|
|
—
|
|
|
103,071
|
|
|
—
|
|
||||
Totals
|
|
$
|
137,977
|
|
|
$
|
11,286
|
|
|
$
|
126,691
|
|
|
$
|
—
|
|
Year Ended December 31, 2018:
|
|
Seniors Housing Operating
|
|
Triple-net
|
|
Outpatient Medical
|
|
Non-segment / Corporate
|
|
Total
|
||||||||||
Resident fees and services
|
|
$
|
3,234,852
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
3,234,852
|
|
Rental income
|
|
—
|
|
|
828,865
|
|
|
551,557
|
|
|
—
|
|
|
1,380,422
|
|
|||||
Interest income
|
|
578
|
|
|
54,926
|
|
|
310
|
|
|
—
|
|
|
55,814
|
|
|||||
Other income
|
|
5,024
|
|
|
17,173
|
|
|
4,939
|
|
|
2,275
|
|
|
29,411
|
|
|||||
Total revenues
|
|
3,240,454
|
|
|
900,964
|
|
|
556,806
|
|
|
2,275
|
|
|
4,700,499
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Property operating expenses
|
|
2,255,432
|
|
|
915
|
|
|
176,670
|
|
|
—
|
|
|
2,433,017
|
|
|||||
Consolidated net operating income
|
|
985,022
|
|
|
900,049
|
|
|
380,136
|
|
|
2,275
|
|
|
2,267,482
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Depreciation and amortization
|
|
529,449
|
|
|
235,480
|
|
|
185,530
|
|
|
—
|
|
|
950,459
|
|
|||||
Interest expense
|
|
69,060
|
|
|
14,225
|
|
|
7,051
|
|
|
436,256
|
|
|
526,592
|
|
|||||
General and administrative
|
|
—
|
|
|
—
|
|
|
—
|
|
|
126,383
|
|
|
126,383
|
|
|||||
Loss (gain) on derivatives and financial instruments, net
|
|
—
|
|
|
(4,016
|
)
|
|
—
|
|
|
—
|
|
|
(4,016
|
)
|
|||||
Loss (gain) on extinguishment of debt, net
|
|
110
|
|
|
(32
|
)
|
|
11,928
|
|
|
4,091
|
|
|
16,097
|
|
|||||
Impairment of assets
|
|
7,599
|
|
|
107,980
|
|
|
—
|
|
|
—
|
|
|
115,579
|
|
|||||
Other expenses
|
|
6,624
|
|
|
90,975
|
|
(1)
|
7,570
|
|
|
7,729
|
|
|
112,898
|
|
|||||
Income (loss) from continuing operations before income taxes and other items
|
|
372,180
|
|
|
455,437
|
|
|
168,057
|
|
|
(572,184
|
)
|
|
423,490
|
|
|||||
Income tax benefit (expense)
|
|
1,202
|
|
|
1,611
|
|
|
(125
|
)
|
|
(11,362
|
)
|
|
(8,674
|
)
|
|||||
(Loss) income from unconsolidated entities
|
|
(28,142
|
)
|
|
21,938
|
|
|
5,563
|
|
|
—
|
|
|
(641
|
)
|
|||||
Gain (loss) on real estate dispositions, net
|
|
(2,245
|
)
|
|
196,589
|
|
|
221,231
|
|
|
—
|
|
|
415,575
|
|
|||||
Income (loss) from continuing operations
|
|
342,995
|
|
|
675,575
|
|
|
394,726
|
|
|
(583,546
|
)
|
|
829,750
|
|
|||||
Net income (loss)
|
|
$
|
342,995
|
|
|
$
|
675,575
|
|
|
$
|
394,726
|
|
|
$
|
(583,546
|
)
|
|
$
|
829,750
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Total assets
|
|
$
|
14,607,127
|
|
|
$
|
10,111,227
|
|
|
$
|
5,426,810
|
|
|
$
|
196,908
|
|
|
$
|
30,342,072
|
|
Year Ended December 31, 2017:
|
|
Seniors Housing Operating
|
|
Triple-net
|
|
Outpatient Medical
|
|
Non-segment / Corporate
|
|
Total
|
||||||||||
Resident fees and services
|
|
$
|
2,779,423
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
2,779,423
|
|
Rental income
|
|
—
|
|
|
885,811
|
|
|
560,060
|
|
|
—
|
|
|
1,445,871
|
|
|||||
Interest income
|
|
69
|
|
|
73,742
|
|
|
—
|
|
|
—
|
|
|
73,811
|
|
|||||
Other income
|
|
5,127
|
|
|
7,531
|
|
|
3,340
|
|
|
1,538
|
|
|
17,536
|
|
|||||
Total revenues
|
|
2,784,619
|
|
|
967,084
|
|
|
563,400
|
|
|
1,538
|
|
|
4,316,641
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Property operating expenses
|
|
1,904,593
|
|
|
—
|
|
|
179,332
|
|
|
—
|
|
|
2,083,925
|
|
|||||
Consolidated net operating income
|
|
880,026
|
|
|
967,084
|
|
|
384,068
|
|
|
1,538
|
|
|
2,232,716
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Depreciation and amortization
|
|
484,796
|
|
|
243,830
|
|
|
193,094
|
|
|
—
|
|
|
921,720
|
|
|||||
Interest expense
|
|
63,265
|
|
|
15,194
|
|
|
10,015
|
|
|
396,148
|
|
|
484,622
|
|
|||||
General and administrative
|
|
—
|
|
|
—
|
|
|
—
|
|
|
122,008
|
|
|
122,008
|
|
|||||
Loss (gain) on derivatives and financial instruments, net
|
|
—
|
|
|
2,284
|
|
|
—
|
|
|
—
|
|
|
2,284
|
|
|||||
Loss (gain) on extinguishment of debt, net
|
|
3,785
|
|
|
29,083
|
|
|
4,373
|
|
|
—
|
|
|
37,241
|
|
|||||
Provision for loan losses
|
|
—
|
|
|
62,966
|
|
|
—
|
|
|
—
|
|
|
62,966
|
|
|||||
Impairment of assets
|
|
21,949
|
|
|
96,909
|
|
|
5,625
|
|
|
—
|
|
|
124,483
|
|
|||||
Other expenses
|
|
8,347
|
|
|
116,689
|
|
(1)
|
1,911
|
|
|
50,829
|
|
(2)
|
177,776
|
|
|||||
Income (loss) from continuing operations before income taxes and other items
|
|
297,884
|
|
|
400,129
|
|
|
169,050
|
|
|
(567,447
|
)
|
|
299,616
|
|
|||||
Income tax benefit (expense)
|
|
(16,430
|
)
|
|
(4,291
|
)
|
|
(1,477
|
)
|
|
2,070
|
|
|
(20,128
|
)
|
|||||
(Loss) income from unconsolidated entities
|
|
(105,236
|
)
|
|
19,428
|
|
|
2,683
|
|
|
—
|
|
|
(83,125
|
)
|
|||||
Gain (loss) on real estate dispositions, net
|
|
56,295
|
|
|
286,325
|
|
|
1,630
|
|
|
—
|
|
|
344,250
|
|
|||||
Income (loss) from continuing operations
|
|
232,513
|
|
|
701,591
|
|
|
171,886
|
|
|
(565,377
|
)
|
|
540,613
|
|
|||||
Net income (loss)
|
|
$
|
232,513
|
|
|
$
|
701,591
|
|
|
$
|
171,886
|
|
|
$
|
(565,377
|
)
|
|
$
|
540,613
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Total assets
|
|
$
|
13,432,001
|
|
|
$
|
9,325,344
|
|
|
$
|
5,082,145
|
|
|
$
|
104,955
|
|
|
$
|
27,944,445
|
|
Year Ended December 31, 2016:
|
|
Seniors Housing Operating
|
|
Triple-net
|
|
Outpatient Medical
|
|
Non-segment / Corporate
|
|
Total
|
||||||||||
Resident fees and services
|
|
$
|
2,504,731
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
2,504,731
|
|
Rental income
|
|
—
|
|
|
1,112,325
|
|
|
536,490
|
|
|
—
|
|
|
1,648,815
|
|
|||||
Interest income
|
|
4,180
|
|
|
90,476
|
|
|
3,307
|
|
|
—
|
|
|
97,963
|
|
|||||
Other income
|
|
17,085
|
|
|
6,059
|
|
|
5,568
|
|
|
939
|
|
|
29,651
|
|
|||||
Total revenues
|
|
2,525,996
|
|
|
1,208,860
|
|
|
545,365
|
|
|
939
|
|
|
4,281,160
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Property operating expenses
|
|
1,711,882
|
|
|
—
|
|
|
165,101
|
|
|
—
|
|
|
1,876,983
|
|
|||||
Consolidated net operating income
|
|
814,114
|
|
|
1,208,860
|
|
|
380,264
|
|
|
939
|
|
|
2,404,177
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Depreciation and amortization
|
|
415,429
|
|
|
297,197
|
|
|
188,616
|
|
|
—
|
|
|
901,242
|
|
|||||
Interest expense
|
|
81,853
|
|
|
21,370
|
|
|
19,087
|
|
|
399,035
|
|
|
521,345
|
|
|||||
General and administrative
|
|
—
|
|
|
—
|
|
|
—
|
|
|
155,241
|
|
|
155,241
|
|
|||||
Loss (gain) on derivatives and financial instruments, net
|
|
—
|
|
|
68
|
|
|
—
|
|
|
(2,516
|
)
|
|
(2,448
|
)
|
|||||
Transaction costs
|
|
29,207
|
|
|
10,016
|
|
|
3,687
|
|
|
—
|
|
|
42,910
|
|
|||||
Loss (gain) on extinguishment of debt, net
|
|
(88
|
)
|
|
863
|
|
|
—
|
|
|
16,439
|
|
|
17,214
|
|
|||||
Provision for loan losses
|
|
—
|
|
|
6,935
|
|
|
3,280
|
|
|
—
|
|
|
10,215
|
|
|||||
Impairment of assets
|
|
12,403
|
|
|
20,169
|
|
|
4,635
|
|
|
—
|
|
|
37,207
|
|
|||||
Other expenses
|
|
—
|
|
|
—
|
|
|
—
|
|
|
11,998
|
|
|
11,998
|
|
|||||
Income (loss) from continuing operations before income taxes and other items
|
|
275,310
|
|
|
852,242
|
|
|
160,959
|
|
|
(579,258
|
)
|
|
709,253
|
|
|||||
Income tax benefit (expense)
|
|
(3,762
|
)
|
|
(1,087
|
)
|
|
(511
|
)
|
|
24,488
|
|
|
19,128
|
|
|||||
(Loss) income from unconsolidated entities
|
|
(20,442
|
)
|
|
9,767
|
|
|
318
|
|
|
—
|
|
|
(10,357
|
)
|
|||||
Gain (loss) on real estate dispositions, net
|
|
9,880
|
|
|
355,394
|
|
|
(1,228
|
)
|
|
—
|
|
|
364,046
|
|
|||||
Income from continuing operations
|
|
260,986
|
|
|
1,216,316
|
|
|
159,538
|
|
|
(554,770
|
)
|
|
1,082,070
|
|
|||||
Net income (loss)
|
|
$
|
260,986
|
|
|
$
|
1,216,316
|
|
|
$
|
159,538
|
|
|
$
|
(554,770
|
)
|
|
$
|
1,082,070
|
|
|
|
Year Ended
|
|||||||||||||||||||
|
|
December 31, 2018
|
|
December 31, 2017
|
|
December 31, 2016
|
|||||||||||||||
Revenues:
|
|
Amount
|
|
%
|
|
Amount
|
|
%
|
|
Amount
|
|
%
|
|||||||||
United States
|
|
$
|
3,777,960
|
|
|
80.4
|
%
|
|
$
|
3,464,527
|
|
|
80.3
|
%
|
|
$
|
3,453,485
|
|
|
80.6
|
%
|
United Kingdom
|
|
452,956
|
|
|
9.6
|
%
|
|
407,351
|
|
|
9.4
|
%
|
|
388,383
|
|
|
9.1
|
%
|
|||
Canada
|
|
469,583
|
|
|
10.0
|
%
|
|
444,763
|
|
|
10.3
|
%
|
|
439,292
|
|
|
10.3
|
%
|
|||
Total
|
|
$
|
4,700,499
|
|
|
100.0
|
%
|
|
$
|
4,316,641
|
|
|
100.0
|
%
|
|
$
|
4,281,160
|
|
|
100.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
As of
|
|
|
|
|
|||||||||||||||
|
|
December 31, 2018
|
|
December 31, 2017
|
|
|
|
|
|||||||||||||
Assets:
|
|
Amount
|
|
%
|
|
Amount
|
|
%
|
|
|
|
|
|||||||||
United States
|
|
$
|
24,884,292
|
|
|
82.0
|
%
|
|
$
|
22,274,443
|
|
|
79.7
|
%
|
|
|
|
|
|||
United Kingdom
|
|
3,078,994
|
|
|
10.1
|
%
|
|
3,239,039
|
|
|
11.6
|
%
|
|
|
|
|
|||||
Canada
|
|
2,378,786
|
|
|
7.9
|
%
|
|
2,430,963
|
|
|
8.7
|
%
|
|
|
|
|
|||||
Total
|
|
$
|
30,342,072
|
|
|
100.0
|
%
|
|
$
|
27,944,445
|
|
|
100.0
|
%
|
|
|
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
2016
|
||||||
Per share:
|
|
|
|
|
|
|
||||||
Ordinary dividend(1)
|
|
$
|
2.1988
|
|
|
$
|
1.8117
|
|
|
$
|
2.5067
|
|
Long-term capital gain/(loss)(2)
|
|
1.1153
|
|
|
1.5755
|
|
|
0.8760
|
|
|||
Return of capital
|
|
0.1659
|
|
|
0.0928
|
|
|
0.0573
|
|
|||
Totals
|
|
$
|
3.4800
|
|
|
$
|
3.4800
|
|
|
$
|
3.4400
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
2016
|
||||||
Current
|
|
$
|
15,850
|
|
|
$
|
7,633
|
|
|
$
|
14,944
|
|
Deferred
|
|
(7,176
|
)
|
|
12,495
|
|
|
(34,072
|
)
|
|||
Totals
|
|
$
|
8,674
|
|
|
$
|
20,128
|
|
|
$
|
(19,128
|
)
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
2016
|
||||||
Tax at statutory rate on earnings from continuing operations before unconsolidated entities, noncontrolling interests and income taxes
|
|
$
|
176,069
|
|
|
$
|
199,588
|
|
|
$
|
372,030
|
|
Increase (decrease) in valuation allowance(1)
|
|
28,309
|
|
|
30,445
|
|
|
(2,128
|
)
|
|||
Tax at statutory rate on earnings not subject to federal income taxes
|
|
(206,937
|
)
|
|
(234,468
|
)
|
|
(399,571
|
)
|
|||
Foreign permanent depreciation
|
|
8,110
|
|
|
10,065
|
|
|
9,205
|
|
|||
Other differences
|
|
3,123
|
|
|
14,498
|
|
|
1,336
|
|
|||
Totals
|
|
$
|
8,674
|
|
|
$
|
20,128
|
|
|
$
|
(19,128
|
)
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
2016
|
||||||
Investments and property, primarily differences in investment basis, depreciation and amortization, the basis of land assets and the treatment of interests and certain costs
|
|
$
|
(2,533
|
)
|
|
$
|
(11,812
|
)
|
|
$
|
(7,089
|
)
|
Operating loss and interest deduction carryforwards
|
|
98,713
|
|
|
94,654
|
|
|
82,469
|
|
|||
Expense accruals and other
|
|
48,804
|
|
|
25,146
|
|
|
15,978
|
|
|||
Valuation allowance
|
|
(155,592
|
)
|
|
(127,283
|
)
|
|
(96,838
|
)
|
|||
Net deferred tax assets (liabilities)
|
|
$
|
(10,608
|
)
|
|
$
|
(19,295
|
)
|
|
$
|
(5,480
|
)
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
2016
|
||||||
Beginning balance
|
|
$
|
127,283
|
|
|
$
|
96,838
|
|
|
$
|
98,966
|
|
Expense (benefit)
|
|
28,309
|
|
|
30,445
|
|
|
(2,128
|
)
|
|||
Ending balance
|
|
$
|
155,592
|
|
|
$
|
127,283
|
|
|
$
|
96,838
|
|
|
|
Year Ended December 31, 2018
|
||||||||||||||
|
|
1st Quarter
|
|
2nd Quarter
|
|
3rd Quarter
|
|
4th Quarter
|
||||||||
Revenues
|
|
$
|
1,096,965
|
|
|
$
|
1,125,912
|
|
|
$
|
1,236,379
|
|
|
$
|
1,241,243
|
|
Net income (loss) attributable to common stockholders
|
|
437,671
|
|
|
154,432
|
|
|
64,384
|
|
|
101,763
|
|
||||
Net income (loss) attributable to common stockholders per share:
|
|
|
|
|
|
|
|
|
||||||||
Basic
|
|
$
|
1.18
|
|
|
$
|
0.42
|
|
|
$
|
0.17
|
|
|
$
|
0.27
|
|
Diluted
|
|
$
|
1.17
|
|
|
$
|
0.41
|
|
|
$
|
0.17
|
|
|
$
|
0.27
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
Year Ended December 31, 2017
|
||||||||||||||
|
|
1st Quarter
|
|
2nd Quarter
|
|
3rd Quarter
|
|
4th Quarter(1)
|
||||||||
Revenues
|
|
$
|
1,062,298
|
|
|
$
|
1,058,602
|
|
|
$
|
1,091,483
|
|
|
$
|
1,104,257
|
|
Net income attributable to common stockholders
|
|
312,639
|
|
|
188,429
|
|
|
74,043
|
|
|
(111,523
|
)
|
||||
Net income attributable to common stockholders per share:
|
|
|
|
|
|
|
|
|
||||||||
Basic
|
|
$
|
0.86
|
|
|
$
|
0.51
|
|
|
$
|
0.20
|
|
|
$
|
(0.31
|
)
|
Diluted
|
|
$
|
0.86
|
|
|
$
|
0.51
|
|
|
$
|
0.20
|
|
|
$
|
(0.31
|
)
|
|
|
December 31, 2018
|
|
December 31, 2017
|
||||
Assets:
|
|
|
|
|
||||
Net real property owned
|
|
$
|
973,813
|
|
|
$
|
1,002,137
|
|
Cash and cash equivalents
|
|
18,678
|
|
|
12,308
|
|
||
Receivables and other assets
|
|
14,600
|
|
|
16,330
|
|
||
Total assets(1)
|
|
$
|
1,007,091
|
|
|
$
|
1,030,775
|
|
Liabilities and equity:
|
|
|
|
|
||||
Secured debt
|
|
$
|
465,433
|
|
|
$
|
471,103
|
|
Accrued expenses and other liabilities
|
|
18,229
|
|
|
14,832
|
|
||
Total equity
|
|
523,429
|
|
|
544,840
|
|
||
Total liabilities and equity
|
|
$
|
1,007,091
|
|
|
$
|
1,030,775
|
|
(a)1.
|
Our Consolidated Financial Statements are included in Part II, Item 8:
|
2.
|
The following Financial Statement Schedules are included beginning on page 105:
|
(b)
|
Exhibits:
|
2.1
|
3.2
|
4.1(q)
|
4.1(r)
|
4.1(s)
|
10.1
|
10.5(a)
|
10.5(b)
|
10.14(a)
|
*
|
|
Management Contract or Compensatory Plan or Arrangement.
|
/s/ Jeffrey H. Donahue **
|
|
/s/ Johnese Spisso **
|
Jeffrey H. Donahue, Chairman of the Board
|
|
Johnese Spisso, Director
|
|
|
|
/s/ Kenneth J. Bacon **
|
|
/s/ R. Scott Trumbull **
|
Kenneth J. Bacon, Director
|
|
R. Scott Trumbull, Director
|
|
|
|
/s/ Karen DeSalvo **
|
|
/s/ Gary Whitelaw **
|
Karen DeSalvo, Director
|
|
Gary Whitelaw, Director
|
|
|
|
/s/ Geoffrey G. Meyers **
|
|
/s/ Thomas J. DeRosa **
|
Geoffrey G. Meyers, Director
|
|
Thomas J. DeRosa, Chief Executive Officer and Director
|
|
|
(Principal Executive Officer)
|
|
|
|
/s/ Timothy J. Naughton **
|
|
/s/ John A. Goodey **
|
Timothy J. Naughton, Director
|
|
John A. Goodey, Executive Vice President and Chief
|
|
|
Financial Officer (Principal Financial Officer)
|
|
|
|
/s/ Sharon M. Oster **
|
|
/s/ Joshua T. Fieweger**
|
Sharon M. Oster, Director
|
|
Joshua T. Fieweger, Vice President and
|
|
|
Controller (Principal Accounting Officer)
|
|
|
|
/s/ Judith C. Pelham **
|
|
**By: /s/ Thomas J. DeRosa
|
Judith C. Pelham, Director
|
|
Thomas J. DeRosa, Attorney-in-Fact
|
|
|
|
/s/ Sergio D. Rivera **
|
|
|
Sergio D. Rivera, Director
|
|
|
Welltower Inc.
|
|
|
||||||||||||||||||||||||||||||||
Schedule III
|
|
|
||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation
|
|
|
||||||||||||||||||||||||||||||||
December 31, 2018
|
|
|
||||||||||||||||||||||||||||||||
(Dollars in thousands)
|
|
|
||||||||||||||||||||||||||||||||
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
||||||||||||||
Seniors Housing Operating:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Acton, MA
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
31,346
|
|
|
$
|
1,691
|
|
|
$
|
24
|
|
|
$
|
33,013
|
|
|
$
|
6,127
|
|
|
2013
|
|
2000
|
|
10 Devon Drive
|
Adderbury, UK
|
|
—
|
|
|
2,144
|
|
|
12,549
|
|
|
—
|
|
|
2,144
|
|
|
12,549
|
|
|
621
|
|
|
2015
|
|
2017
|
|
Banbury Road
|
|||||||
Albuquerque, NM
|
|
—
|
|
|
1,270
|
|
|
20,837
|
|
|
2,139
|
|
|
1,354
|
|
|
22,892
|
|
|
6,475
|
|
|
2010
|
|
1984
|
|
500 Paisano St NE
|
|||||||
Alexandria, VA
|
|
—
|
|
|
8,280
|
|
|
50,914
|
|
|
—
|
|
|
8,280
|
|
|
50,914
|
|
|
1,055
|
|
|
2016
|
|
2018
|
|
5550 Cardinal Place
|
|||||||
Alhambra, CA
|
|
—
|
|
|
600
|
|
|
6,305
|
|
|
9,067
|
|
|
600
|
|
|
15,372
|
|
|
2,124
|
|
|
2011
|
|
1923
|
|
1118 N. Stoneman Ave.
|
|||||||
Altrincham, UK
|
|
—
|
|
|
4,244
|
|
|
25,187
|
|
|
1,700
|
|
|
4,388
|
|
|
26,743
|
|
|
5,790
|
|
|
2012
|
|
2009
|
|
295 Hale Road
|
|||||||
Amherstview, ON
|
|
486
|
|
|
473
|
|
|
4,446
|
|
|
508
|
|
|
493
|
|
|
4,934
|
|
|
799
|
|
|
2015
|
|
1974
|
|
4567 Bath Road
|
|||||||
Anderson, SC
|
|
—
|
|
|
710
|
|
|
6,290
|
|
|
456
|
|
|
710
|
|
|
6,746
|
|
|
3,524
|
|
|
2003
|
|
1986
|
|
311 Simpson Rd.
|
|||||||
Apple Valley, CA
|
|
—
|
|
|
480
|
|
|
16,639
|
|
|
262
|
|
|
486
|
|
|
16,895
|
|
|
4,633
|
|
|
2010
|
|
1999
|
|
11825 Apple Valley Rd.
|
|||||||
Arlington, VA
|
|
—
|
|
|
8,385
|
|
|
31,198
|
|
|
14,030
|
|
|
8,385
|
|
|
45,228
|
|
|
6,530
|
|
|
2017
|
|
1992
|
|
900 N Taylor Street
|
|||||||
Arlington, VA
|
|
—
|
|
|
—
|
|
|
2,338
|
|
|
—
|
|
|
—
|
|
|
2,338
|
|
|
89
|
|
|
2018
|
|
1992
|
|
900 N Taylor Street
|
|||||||
Arnprior, ON
|
|
147
|
|
|
788
|
|
|
6,283
|
|
|
422
|
|
|
810
|
|
|
6,683
|
|
|
1,505
|
|
|
2013
|
|
1991
|
|
15 Arthur Street
|
|||||||
Atlanta, GA
|
|
—
|
|
|
2,100
|
|
|
20,603
|
|
|
1,532
|
|
|
2,197
|
|
|
22,038
|
|
|
4,140
|
|
|
2014
|
|
2000
|
|
1000 Lenox Park Blvd NE
|
|||||||
Austin, TX
|
|
—
|
|
|
1,560
|
|
|
21,413
|
|
|
511
|
|
|
1,560
|
|
|
21,924
|
|
|
2,984
|
|
|
2014
|
|
2013
|
|
11330 Farrah Lane
|
|||||||
Austin, TX
|
|
—
|
|
|
4,200
|
|
|
74,850
|
|
|
746
|
|
|
4,200
|
|
|
75,596
|
|
|
8,063
|
|
|
2015
|
|
2014
|
|
4310 Bee Caves Road
|
|||||||
Avon, CT
|
|
—
|
|
|
1,550
|
|
|
30,571
|
|
|
4,211
|
|
|
1,590
|
|
|
34,742
|
|
|
10,488
|
|
|
2011
|
|
1998
|
|
101 Bickford Extension
|
|||||||
Azusa, CA
|
|
—
|
|
|
570
|
|
|
3,141
|
|
|
7,872
|
|
|
570
|
|
|
11,013
|
|
|
3,286
|
|
|
1998
|
|
1953
|
|
125 W. Sierra Madre Ave.
|
|||||||
Bagshot, UK
|
|
—
|
|
|
4,960
|
|
|
29,881
|
|
|
2,920
|
|
|
5,133
|
|
|
32,628
|
|
|
7,189
|
|
|
2012
|
|
2009
|
|
14 - 16 London Road
|
|||||||
Banstead, UK
|
|
—
|
|
|
6,695
|
|
|
55,113
|
|
|
4,444
|
|
|
6,956
|
|
|
59,296
|
|
|
12,237
|
|
|
2012
|
|
2005
|
|
Croydon Lane
|
|||||||
Basingstoke, UK
|
|
—
|
|
|
3,420
|
|
|
18,853
|
|
|
1,014
|
|
|
3,535
|
|
|
19,752
|
|
|
2,578
|
|
|
2014
|
|
2012
|
|
Grove Road
|
|||||||
Basking Ridge, NJ
|
|
—
|
|
|
2,356
|
|
|
37,710
|
|
|
1,623
|
|
|
2,395
|
|
|
39,294
|
|
|
8,040
|
|
|
2013
|
|
2002
|
|
404 King George Road
|
|||||||
Bassett, UK
|
|
—
|
|
|
4,874
|
|
|
32,304
|
|
|
4,413
|
|
|
5,051
|
|
|
36,540
|
|
|
8,138
|
|
|
2013
|
|
2006
|
|
111 Burgess Road
|
|||||||
Bath, UK
|
|
—
|
|
|
2,696
|
|
|
11,876
|
|
|
—
|
|
|
2,696
|
|
|
11,876
|
|
|
571
|
|
|
2015
|
|
2017
|
|
Clarks Way, Rush Hill
|
|||||||
Baton Rouge, LA
|
|
8,838
|
|
|
790
|
|
|
29,436
|
|
|
1,139
|
|
|
842
|
|
|
30,523
|
|
|
6,086
|
|
|
2013
|
|
2009
|
|
9351 Siegen Lane
|
|||||||
Beaconsfield, UK
|
|
—
|
|
|
5,566
|
|
|
50,952
|
|
|
2,287
|
|
|
5,765
|
|
|
53,040
|
|
|
10,591
|
|
|
2013
|
|
2009
|
|
30-34 Station Road
|
|||||||
Beaconsfield, QC
|
|
—
|
|
|
1,149
|
|
|
17,484
|
|
|
641
|
|
|
1,225
|
|
|
18,049
|
|
|
4,937
|
|
|
2013
|
|
2008
|
|
505 Elm Avenue
|
|||||||
Bedford, NH
|
|
—
|
|
|
2,527
|
|
|
28,748
|
|
|
2,299
|
|
|
2,551
|
|
|
31,023
|
|
|
5,760
|
|
|
2011
|
|
2012
|
|
5 Corporate Drive
|
|||||||
Bee Cave, TX
|
|
—
|
|
|
1,820
|
|
|
21,084
|
|
|
819
|
|
|
1,820
|
|
|
21,903
|
|
|
2,369
|
|
|
2016
|
|
2014
|
|
14058 A Bee Cave Parkway
|
|||||||
Bellevue, WA
|
|
—
|
|
|
2,800
|
|
|
19,004
|
|
|
2,183
|
|
|
2,816
|
|
|
21,171
|
|
|
5,325
|
|
|
2013
|
|
1998
|
|
15928 NE 8th Street
|
|||||||
Belmont, CA
|
|
—
|
|
|
3,000
|
|
|
23,526
|
|
|
2,395
|
|
|
3,000
|
|
|
25,921
|
|
|
6,832
|
|
|
2011
|
|
1971
|
|
1301 Ralston Avenue
|
|||||||
Belmont, CA
|
|
—
|
|
|
—
|
|
|
35,300
|
|
|
2,308
|
|
|
157
|
|
|
37,451
|
|
|
8,026
|
|
|
2013
|
|
2002
|
|
1010 Alameda de Las Pulgas
|
|||||||
Berkeley, CA
|
|
12,195
|
|
|
3,050
|
|
|
32,677
|
|
|
5,086
|
|
|
3,050
|
|
|
37,763
|
|
|
4,759
|
|
|
2016
|
|
1966
|
|
2235 Sacramento Street
|
|||||||
Bethesda, MD
|
|
—
|
|
|
—
|
|
|
45,309
|
|
|
677
|
|
|
3
|
|
|
45,983
|
|
|
9,551
|
|
|
2013
|
|
2009
|
|
8300 Burdett Road
|
|||||||
Bethesda, MD
|
|
—
|
|
|
—
|
|
|
45
|
|
|
682
|
|
|
—
|
|
|
727
|
|
|
136
|
|
|
2013
|
|
2009
|
|
8300 Burdett Road
|
|||||||
Bethesda, MD
|
|
—
|
|
|
—
|
|
|
212
|
|
|
907
|
|
|
—
|
|
|
1,119
|
|
|
319
|
|
|
2013
|
|
2009
|
|
8300 Burdett Road
|
|||||||
Billerica, MA
|
|
—
|
|
|
1,619
|
|
|
21,381
|
|
|
867
|
|
|
1,624
|
|
|
22,243
|
|
|
3,170
|
|
|
2015
|
|
2000
|
|
20 Charnstaffe Lane
|
|||||||
Birmingham, UK
|
|
—
|
|
|
1,480
|
|
|
13,014
|
|
|
654
|
|
|
1,530
|
|
|
13,618
|
|
|
776
|
|
|
2015
|
|
2016
|
|
47 Bristol Road South
|
(Dollars in thousands)
|
|
|
|||||||||||||||||||||||||
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Seniors Housing Operating:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Birmingham, UK
|
|
—
|
|
|
2,807
|
|
|
11,313
|
|
|
605
|
|
|
2,902
|
|
|
11,823
|
|
|
645
|
|
|
2015
|
|
2016
|
|
134 Jockey Road
|
Blainville, QC
|
|
—
|
|
|
2,077
|
|
|
8,902
|
|
|
429
|
|
|
2,156
|
|
|
9,252
|
|
|
2,925
|
|
|
2013
|
|
2008
|
|
50 des Chateaux Boulevard
|
Bloomfield Hills, MI
|
|
—
|
|
|
2,000
|
|
|
35,662
|
|
|
1,067
|
|
|
2,133
|
|
|
36,596
|
|
|
7,455
|
|
|
2013
|
|
2009
|
|
6790 Telegraph Road
|
Boca Raton, FL
|
|
—
|
|
|
6,565
|
|
|
111,247
|
|
|
18,834
|
|
|
6,565
|
|
|
130,081
|
|
|
7,491
|
|
|
2018
|
|
1994
|
|
6343 Via De Sonrise Del Sur
|
Borehamwood, UK
|
|
—
|
|
|
5,367
|
|
|
41,937
|
|
|
2,246
|
|
|
5,584
|
|
|
43,966
|
|
|
9,285
|
|
|
2012
|
|
2003
|
|
Edgwarebury Lane
|
Bothell, WA
|
|
—
|
|
|
1,350
|
|
|
13,439
|
|
|
6,074
|
|
|
1,798
|
|
|
19,065
|
|
|
2,344
|
|
|
2015
|
|
1988
|
|
10605 NE 185th Street
|
Boulder, CO
|
|
—
|
|
|
2,994
|
|
|
27,458
|
|
|
2,271
|
|
|
3,022
|
|
|
29,701
|
|
|
7,497
|
|
|
2013
|
|
2003
|
|
3955 28th Street
|
Bournemouth, UK
|
|
—
|
|
|
5,527
|
|
|
42,547
|
|
|
2,338
|
|
|
5,725
|
|
|
44,687
|
|
|
9,186
|
|
|
2013
|
|
2008
|
|
42 Belle Vue Road
|
Braintree, MA
|
|
—
|
|
|
—
|
|
|
41,290
|
|
|
1,079
|
|
|
100
|
|
|
42,269
|
|
|
8,961
|
|
|
2013
|
|
2007
|
|
618 Granite Street
|
Brampton, ON
|
|
40,685
|
|
|
10,196
|
|
|
59,989
|
|
|
—
|
|
|
10,196
|
|
|
59,989
|
|
|
10,075
|
|
|
2015
|
|
2009
|
|
100 Ken Whillans Drive
|
Brick, NJ
|
|
—
|
|
|
1,170
|
|
|
17,372
|
|
|
1,530
|
|
|
1,211
|
|
|
18,861
|
|
|
4,186
|
|
|
2010
|
|
1998
|
|
515 Jack Martin Blvd
|
Brick, NJ
|
|
—
|
|
|
690
|
|
|
17,125
|
|
|
5,610
|
|
|
695
|
|
|
22,730
|
|
|
4,152
|
|
|
2010
|
|
1999
|
|
1594 Route 88
|
Bridgewater, NJ
|
|
—
|
|
|
1,730
|
|
|
48,201
|
|
|
1,562
|
|
|
1,767
|
|
|
49,726
|
|
|
10,329
|
|
|
2010
|
|
1999
|
|
2005 Route 22 West
|
Brighton, MA
|
|
9,686
|
|
|
2,100
|
|
|
14,616
|
|
|
1,712
|
|
|
2,135
|
|
|
16,293
|
|
|
4,736
|
|
|
2011
|
|
1995
|
|
50 Sutherland Road
|
Brockport, NY
|
|
—
|
|
|
1,500
|
|
|
23,496
|
|
|
582
|
|
|
1,705
|
|
|
23,873
|
|
|
3,890
|
|
|
2015
|
|
1999
|
|
90 West Avenue
|
Brockville, ON
|
|
4,288
|
|
|
484
|
|
|
7,445
|
|
|
432
|
|
|
498
|
|
|
7,863
|
|
|
1,170
|
|
|
2015
|
|
1996
|
|
1026 Bridlewood Drive
|
Brookfield, CT
|
|
—
|
|
|
2,250
|
|
|
30,180
|
|
|
3,337
|
|
|
2,271
|
|
|
33,496
|
|
|
9,272
|
|
|
2011
|
|
1999
|
|
246A Federal Road
|
Broomfield, CO
|
|
—
|
|
|
4,140
|
|
|
44,547
|
|
|
11,976
|
|
|
10,135
|
|
|
50,528
|
|
|
16,614
|
|
|
2013
|
|
2009
|
|
400 Summit Blvd
|
Brossard, QC
|
|
10,432
|
|
|
5,499
|
|
|
31,854
|
|
|
285
|
|
|
5,427
|
|
|
32,211
|
|
|
5,560
|
|
|
2015
|
|
1989
|
|
2455 Boulevard Rome
|
Buckingham, UK
|
|
—
|
|
|
2,979
|
|
|
13,880
|
|
|
744
|
|
|
3,080
|
|
|
14,523
|
|
|
1,882
|
|
|
2014
|
|
1883
|
|
Church Street
|
Buffalo Grove, IL
|
|
—
|
|
|
2,850
|
|
|
49,129
|
|
|
3,154
|
|
|
2,850
|
|
|
52,283
|
|
|
10,571
|
|
|
2012
|
|
2003
|
|
500 McHenry Road
|
Burbank, CA
|
|
—
|
|
|
4,940
|
|
|
43,466
|
|
|
2,067
|
|
|
4,940
|
|
|
45,533
|
|
|
10,721
|
|
|
2012
|
|
2002
|
|
455 E. Angeleno Avenue
|
Burbank, CA
|
|
19,237
|
|
|
3,610
|
|
|
50,817
|
|
|
3,983
|
|
|
3,610
|
|
|
54,800
|
|
|
5,663
|
|
|
2016
|
|
1985
|
|
2721 Willow Street
|
Burleson, TX
|
|
—
|
|
|
3,150
|
|
|
10,437
|
|
|
659
|
|
|
3,150
|
|
|
11,096
|
|
|
1,354
|
|
|
2012
|
|
2014
|
|
621 Old Highway 1187
|
Burlingame, CA
|
|
—
|
|
|
—
|
|
|
62,786
|
|
|
85
|
|
|
—
|
|
|
62,871
|
|
|
4,858
|
|
|
2016
|
|
2015
|
|
1818 Trousdale Avenue
|
Burlington, ON
|
|
11,514
|
|
|
1,309
|
|
|
19,311
|
|
|
623
|
|
|
1,338
|
|
|
19,905
|
|
|
4,321
|
|
|
2013
|
|
1990
|
|
500 Appleby Line
|
Burlington, MA
|
|
—
|
|
|
2,443
|
|
|
34,354
|
|
|
1,388
|
|
|
2,522
|
|
|
35,663
|
|
|
8,007
|
|
|
2013
|
|
2005
|
|
24 Mall Road
|
Burlington, MA
|
|
—
|
|
|
2,750
|
|
|
57,488
|
|
|
3,304
|
|
|
2,750
|
|
|
60,792
|
|
|
6,120
|
|
|
2016
|
|
2011
|
|
50 Greenleaf Way
|
Bushey, UK
|
|
—
|
|
|
12,690
|
|
|
36,482
|
|
|
—
|
|
|
12,690
|
|
|
36,482
|
|
|
308
|
|
|
2015
|
|
2018
|
|
Elton House, Elton Way
|
Calgary, AB
|
|
11,323
|
|
|
2,252
|
|
|
37,415
|
|
|
1,286
|
|
|
2,298
|
|
|
38,655
|
|
|
8,580
|
|
|
2013
|
|
2003
|
|
20 Promenade Way SE
|
Calgary, AB
|
|
12,909
|
|
|
2,793
|
|
|
41,179
|
|
|
1,065
|
|
|
2,843
|
|
|
42,194
|
|
|
9,176
|
|
|
2013
|
|
1998
|
|
80 Edenwold Drive NW
|
Calgary, AB
|
|
10,237
|
|
|
3,122
|
|
|
38,971
|
|
|
1,241
|
|
|
3,184
|
|
|
40,150
|
|
|
8,632
|
|
|
2013
|
|
1998
|
|
150 Scotia Landing NW
|
Calgary, AB
|
|
21,247
|
|
|
3,431
|
|
|
28,983
|
|
|
1,676
|
|
|
3,498
|
|
|
30,592
|
|
|
5,754
|
|
|
2013
|
|
1989
|
|
9229 16th Street SW
|
Calgary, AB
|
|
24,199
|
|
|
2,385
|
|
|
36,776
|
|
|
1,152
|
|
|
2,427
|
|
|
37,886
|
|
|
5,774
|
|
|
2015
|
|
2006
|
|
2220-162nd Avenue SW
|
Camberley, UK
|
|
—
|
|
|
2,654
|
|
|
5,736
|
|
|
21,500
|
|
|
8,150
|
|
|
21,937
|
|
|
1,230
|
|
|
2014
|
|
2016
|
|
Fernhill Road
|
Cardiff, UK
|
|
—
|
|
|
3,191
|
|
|
12,566
|
|
|
884
|
|
|
3,307
|
|
|
13,334
|
|
|
3,647
|
|
|
2013
|
|
2007
|
|
127 Cyncoed Road
|
Cardiff by the Sea, CA
|
|
37,025
|
|
|
5,880
|
|
|
64,711
|
|
|
4,243
|
|
|
5,880
|
|
|
68,954
|
|
|
15,985
|
|
|
2011
|
|
2009
|
|
3535 Manchester Avenue
|
Carol Stream, IL
|
|
—
|
|
|
1,730
|
|
|
55,048
|
|
|
2,104
|
|
|
1,730
|
|
|
57,152
|
|
|
12,748
|
|
|
2012
|
|
2001
|
|
545 Belmont Lane
|
Carrollton, TX
|
|
—
|
|
|
4,280
|
|
|
31,444
|
|
|
1,041
|
|
|
4,280
|
|
|
32,485
|
|
|
4,207
|
|
|
2013
|
|
2010
|
|
2105 North Josey Lane
|
Cary, NC
|
|
—
|
|
|
740
|
|
|
45,240
|
|
|
744
|
|
|
740
|
|
|
45,984
|
|
|
8,360
|
|
|
2013
|
|
2009
|
|
1206 West Chatham Street
|
Cary, NC
|
|
—
|
|
|
6,112
|
|
|
70,008
|
|
|
8,355
|
|
|
6,112
|
|
|
78,363
|
|
|
3,652
|
|
|
2018
|
|
1999
|
|
300 Kildaire Woods Drive
|
Cedar Park, TX
|
|
—
|
|
|
1,750
|
|
|
15,664
|
|
|
1,162
|
|
|
1,750
|
|
|
16,826
|
|
|
1,215
|
|
|
2016
|
|
2015
|
|
800 C-Bar Ranch Trail
|
Cerritos, CA
|
|
—
|
|
|
—
|
|
|
27,494
|
|
|
6,570
|
|
|
—
|
|
|
34,064
|
|
|
6,011
|
|
|
2016
|
|
2002
|
|
11000 New Falcon Way
|
(Dollars in thousands)
|
|
|
|||||||||||||||||||||||||
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Seniors Housing Operating:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Charlottesville, VA
|
|
—
|
|
|
4,651
|
|
|
91,468
|
|
|
11,276
|
|
|
4,651
|
|
|
102,744
|
|
|
6,952
|
|
|
2018
|
|
1991
|
|
2610 Barracks Road
|
Chatham, ON
|
|
895
|
|
|
1,098
|
|
|
12,462
|
|
|
1,809
|
|
|
1,193
|
|
|
14,176
|
|
|
3,167
|
|
|
2015
|
|
1965
|
|
25 Keil Drive North
|
Chelmsford, MA
|
|
—
|
|
|
1,040
|
|
|
10,951
|
|
|
1,525
|
|
|
1,040
|
|
|
12,476
|
|
|
4,625
|
|
|
2003
|
|
1997
|
|
4 Technology Dr.
|
Chelmsford, MA
|
|
—
|
|
|
1,589
|
|
|
26,432
|
|
|
1,301
|
|
|
1,656
|
|
|
27,666
|
|
|
3,882
|
|
|
2015
|
|
1997
|
|
199 Chelmsford Street
|
Chertsey, UK
|
|
—
|
|
|
9,566
|
|
|
25,886
|
|
|
—
|
|
|
9,566
|
|
|
25,886
|
|
|
743
|
|
|
2015
|
|
2018
|
|
Bittams Lane
|
Chesterfield, MO
|
|
—
|
|
|
1,857
|
|
|
48,366
|
|
|
1,462
|
|
|
1,917
|
|
|
49,768
|
|
|
9,624
|
|
|
2013
|
|
2001
|
|
1880 Clarkson Road
|
Chorleywood, UK
|
|
—
|
|
|
5,636
|
|
|
43,191
|
|
|
3,864
|
|
|
5,833
|
|
|
46,858
|
|
|
10,193
|
|
|
2013
|
|
2007
|
|
High View, Rickmansworth Road
|
Chula Vista, CA
|
|
—
|
|
|
2,072
|
|
|
22,163
|
|
|
1,201
|
|
|
2,162
|
|
|
23,274
|
|
|
4,942
|
|
|
2013
|
|
2003
|
|
3302 Bonita Road
|
Church Crookham, UK
|
|
—
|
|
|
2,591
|
|
|
14,215
|
|
|
835
|
|
|
2,691
|
|
|
14,950
|
|
|
2,596
|
|
|
2014
|
|
2014
|
|
Bourley Road
|
Cincinnati, OH
|
|
—
|
|
|
2,060
|
|
|
109,388
|
|
|
13,733
|
|
|
2,080
|
|
|
123,101
|
|
|
26,921
|
|
|
2007
|
|
2010
|
|
5445 Kenwood Road
|
Citrus Heights, CA
|
|
—
|
|
|
2,300
|
|
|
31,876
|
|
|
726
|
|
|
2,300
|
|
|
32,602
|
|
|
8,987
|
|
|
2010
|
|
1997
|
|
7418 Stock Ranch Rd.
|
Claremont, CA
|
|
—
|
|
|
2,430
|
|
|
9,928
|
|
|
1,479
|
|
|
2,483
|
|
|
11,354
|
|
|
2,806
|
|
|
2013
|
|
2001
|
|
2053 North Towne Avenue
|
Cohasset, MA
|
|
—
|
|
|
2,485
|
|
|
26,147
|
|
|
1,919
|
|
|
2,493
|
|
|
28,058
|
|
|
6,009
|
|
|
2013
|
|
1998
|
|
125 King Street (Rt 3A)
|
Colleyville, TX
|
|
—
|
|
|
1,050
|
|
|
17,082
|
|
|
47
|
|
|
1,050
|
|
|
17,129
|
|
|
921
|
|
|
2016
|
|
2013
|
|
8100 Precinct Line Road
|
Colorado Springs, CO
|
|
—
|
|
|
800
|
|
|
14,756
|
|
|
1,980
|
|
|
1,026
|
|
|
16,510
|
|
|
3,610
|
|
|
2013
|
|
2001
|
|
2105 University Park Boulevard
|
Colts Neck, NJ
|
|
—
|
|
|
780
|
|
|
14,733
|
|
|
1,759
|
|
|
1,092
|
|
|
16,180
|
|
|
3,628
|
|
|
2010
|
|
2002
|
|
3 Meridian Circle
|
Concord, NH
|
|
—
|
|
|
720
|
|
|
21,164
|
|
|
852
|
|
|
789
|
|
|
21,947
|
|
|
5,450
|
|
|
2011
|
|
2001
|
|
300 Pleasant Street
|
Coquitlam, BC
|
|
9,139
|
|
|
3,047
|
|
|
24,567
|
|
|
775
|
|
|
3,098
|
|
|
25,291
|
|
|
6,583
|
|
|
2013
|
|
1990
|
|
1142 Dufferin Street
|
Costa Mesa, CA
|
|
—
|
|
|
2,050
|
|
|
19,969
|
|
|
1,404
|
|
|
2,050
|
|
|
21,373
|
|
|
5,647
|
|
|
2011
|
|
1965
|
|
350 West Bay St
|
Crystal Lake, IL
|
|
—
|
|
|
875
|
|
|
12,461
|
|
|
1,482
|
|
|
971
|
|
|
13,847
|
|
|
3,480
|
|
|
2013
|
|
2001
|
|
751 E Terra Cotta Avenue
|
Dallas, TX
|
|
—
|
|
|
6,330
|
|
|
114,794
|
|
|
1,613
|
|
|
6,330
|
|
|
116,407
|
|
|
13,498
|
|
|
2015
|
|
2013
|
|
3535 N Hall Street
|
Danvers, MA
|
|
—
|
|
|
1,120
|
|
|
14,557
|
|
|
1,505
|
|
|
1,145
|
|
|
16,037
|
|
|
4,429
|
|
|
2011
|
|
2000
|
|
1 Veronica Drive
|
Danvers, MA
|
|
—
|
|
|
2,203
|
|
|
28,761
|
|
|
342
|
|
|
2,257
|
|
|
29,049
|
|
|
4,487
|
|
|
2015
|
|
1997
|
|
9 Summer Street
|
Davenport, IA
|
|
—
|
|
|
1,403
|
|
|
35,893
|
|
|
4,269
|
|
|
1,480
|
|
|
40,085
|
|
|
10,506
|
|
|
2006
|
|
2009
|
|
4500 Elmore Ave.
|
Decatur, GA
|
|
—
|
|
|
1,946
|
|
|
26,575
|
|
|
2,504
|
|
|
1,946
|
|
|
29,079
|
|
|
6,609
|
|
|
2013
|
|
1998
|
|
920 Clairemont Avenue
|
Denver, CO
|
|
—
|
|
|
2,910
|
|
|
35,838
|
|
|
1,827
|
|
|
2,971
|
|
|
37,604
|
|
|
9,558
|
|
|
2012
|
|
2007
|
|
8101 E Mississippi Avenue
|
Dix Hills, NY
|
|
—
|
|
|
3,808
|
|
|
39,014
|
|
|
1,861
|
|
|
3,947
|
|
|
40,736
|
|
|
8,624
|
|
|
2013
|
|
2003
|
|
337 Deer Park Road
|
Dollard-Des-Ormeaux, QC
|
|
—
|
|
|
1,957
|
|
|
14,431
|
|
|
538
|
|
|
2,039
|
|
|
14,887
|
|
|
4,786
|
|
|
2013
|
|
2008
|
|
4377 St. Jean Blvd
|
Dresher, PA
|
|
—
|
|
|
1,900
|
|
|
10,664
|
|
|
1,151
|
|
|
1,914
|
|
|
11,801
|
|
|
3,660
|
|
|
2013
|
|
2006
|
|
1650 Susquehanna Road
|
Dublin, OH
|
|
—
|
|
|
1,680
|
|
|
43,423
|
|
|
6,837
|
|
|
1,850
|
|
|
50,090
|
|
|
14,301
|
|
|
2010
|
|
1990
|
|
6470 Post Rd
|
Dublin, OH
|
|
—
|
|
|
1,169
|
|
|
25,345
|
|
|
47
|
|
|
1,169
|
|
|
25,392
|
|
|
2,232
|
|
|
2016
|
|
2015
|
|
4175 Stoneridge Lane
|
East Haven, CT
|
|
—
|
|
|
2,660
|
|
|
35,533
|
|
|
3,458
|
|
|
2,685
|
|
|
38,966
|
|
|
12,649
|
|
|
2011
|
|
2000
|
|
111 South Shore Drive
|
East Meadow, NY
|
|
—
|
|
|
69
|
|
|
45,991
|
|
|
1,471
|
|
|
124
|
|
|
47,407
|
|
|
9,848
|
|
|
2013
|
|
2002
|
|
1555 Glen Curtiss Boulevard
|
East Setauket, NY
|
|
—
|
|
|
4,920
|
|
|
37,354
|
|
|
1,647
|
|
|
4,975
|
|
|
38,946
|
|
|
8,143
|
|
|
2013
|
|
2002
|
|
1 Sunrise Drive
|
Eastbourne, UK
|
|
—
|
|
|
4,145
|
|
|
33,744
|
|
|
1,554
|
|
|
4,298
|
|
|
35,145
|
|
|
7,685
|
|
|
2013
|
|
2008
|
|
6 Upper Kings Drive
|
Edgbaston, UK
|
|
—
|
|
|
2,720
|
|
|
13,969
|
|
|
722
|
|
|
2,812
|
|
|
14,599
|
|
|
1,490
|
|
|
2014
|
|
2015
|
|
Pershore Road
|
Edgewater, NJ
|
|
—
|
|
|
4,561
|
|
|
25,047
|
|
|
1,518
|
|
|
4,564
|
|
|
26,562
|
|
|
5,889
|
|
|
2013
|
|
2000
|
|
351 River Road
|
Edison, NJ
|
|
—
|
|
|
1,892
|
|
|
32,314
|
|
|
2,249
|
|
|
1,905
|
|
|
34,550
|
|
|
9,486
|
|
|
2013
|
|
1996
|
|
1801 Oak Tree Road
|
Edmonds, WA
|
|
—
|
|
|
1,650
|
|
|
24,449
|
|
|
4,823
|
|
|
1,672
|
|
|
29,250
|
|
|
3,548
|
|
|
2015
|
|
1976
|
|
21500 72nd Avenue West
|
Edmonton, AB
|
|
8,239
|
|
|
1,589
|
|
|
29,819
|
|
|
1,093
|
|
|
1,632
|
|
|
30,869
|
|
|
6,909
|
|
|
2013
|
|
1999
|
|
103 Rabbit Hill Court NW
|
Edmonton, AB
|
|
10,728
|
|
|
2,063
|
|
|
37,293
|
|
|
1,514
|
|
|
2,094
|
|
|
38,776
|
|
|
10,602
|
|
|
2013
|
|
1968
|
|
10015 103rd Avenue NW
|
Encinitas, CA
|
|
—
|
|
|
1,460
|
|
|
7,721
|
|
|
2,662
|
|
|
1,460
|
|
|
10,383
|
|
|
4,496
|
|
|
2000
|
|
1988
|
|
335 Saxony Rd.
|
Encino, CA
|
|
—
|
|
|
5,040
|
|
|
46,255
|
|
|
2,211
|
|
|
5,040
|
|
|
48,466
|
|
|
11,067
|
|
|
2012
|
|
2003
|
|
15451 Ventura Boulevard
|
(Dollars in thousands)
|
|
|
|||||||||||||||||||||||||
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Seniors Housing Operating:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Englishtown, NJ
|
|
—
|
|
|
690
|
|
|
12,520
|
|
|
1,873
|
|
|
834
|
|
|
14,249
|
|
|
3,230
|
|
|
2010
|
|
1997
|
|
49 Lasatta Ave
|
Escondido, CA
|
|
—
|
|
|
1,520
|
|
|
24,024
|
|
|
1,323
|
|
|
1,520
|
|
|
25,347
|
|
|
6,708
|
|
|
2011
|
|
1987
|
|
1500 Borden Rd
|
Esher, UK
|
|
—
|
|
|
5,783
|
|
|
48,361
|
|
|
2,365
|
|
|
5,999
|
|
|
50,510
|
|
|
9,941
|
|
|
2013
|
|
2006
|
|
42 Copsem Lane
|
Fairfax, VA
|
|
—
|
|
|
19
|
|
|
2,678
|
|
|
312
|
|
|
53
|
|
|
2,956
|
|
|
941
|
|
|
2013
|
|
1991
|
|
9207 Arlington Boulevard
|
Fairfield, NJ
|
|
—
|
|
|
3,120
|
|
|
43,868
|
|
|
1,373
|
|
|
3,175
|
|
|
45,186
|
|
|
9,629
|
|
|
2013
|
|
1998
|
|
47 Greenbrook Road
|
Fairfield, CA
|
|
—
|
|
|
1,460
|
|
|
14,040
|
|
|
1,565
|
|
|
1,460
|
|
|
15,605
|
|
|
6,635
|
|
|
2002
|
|
1998
|
|
3350 Cherry Hills St.
|
Fareham, UK
|
|
—
|
|
|
3,408
|
|
|
17,970
|
|
|
1,077
|
|
|
3,536
|
|
|
18,919
|
|
|
2,887
|
|
|
2014
|
|
2012
|
|
Redlands Lane
|
Flossmoor, IL
|
|
—
|
|
|
1,292
|
|
|
9,496
|
|
|
1,835
|
|
|
1,339
|
|
|
11,284
|
|
|
3,068
|
|
|
2013
|
|
2000
|
|
19715 Governors Highway
|
Folsom, CA
|
|
—
|
|
|
1,490
|
|
|
32,754
|
|
|
84
|
|
|
1,490
|
|
|
32,838
|
|
|
4,420
|
|
|
2015
|
|
2014
|
|
1574 Creekside Drive
|
Fort Worth, TX
|
|
—
|
|
|
1,740
|
|
|
19,799
|
|
|
1,089
|
|
|
1,740
|
|
|
20,888
|
|
|
2,265
|
|
|
2016
|
|
2014
|
|
7001 Bryant Irvin Road
|
Franklin, MA
|
|
—
|
|
|
2,430
|
|
|
30,597
|
|
|
2,564
|
|
|
2,467
|
|
|
33,124
|
|
|
6,623
|
|
|
2013
|
|
1999
|
|
4 Forge Hill Road
|
Fremont, CA
|
|
—
|
|
|
3,400
|
|
|
25,300
|
|
|
3,331
|
|
|
3,456
|
|
|
28,575
|
|
|
10,193
|
|
|
2005
|
|
1987
|
|
2860 Country Dr.
|
Frome, UK
|
|
—
|
|
|
2,720
|
|
|
14,813
|
|
|
832
|
|
|
2,812
|
|
|
15,553
|
|
|
2,122
|
|
|
2014
|
|
2012
|
|
Welshmill Lane
|
Fullerton, CA
|
|
—
|
|
|
1,964
|
|
|
19,989
|
|
|
883
|
|
|
1,998
|
|
|
20,838
|
|
|
4,718
|
|
|
2013
|
|
2008
|
|
2226 North Euclid Street
|
Gahanna, OH
|
|
—
|
|
|
772
|
|
|
11,214
|
|
|
1,609
|
|
|
787
|
|
|
12,808
|
|
|
2,765
|
|
|
2013
|
|
1998
|
|
775 East Johnstown Road
|
Gilbert, AZ
|
|
15,436
|
|
|
2,160
|
|
|
28,246
|
|
|
1,429
|
|
|
2,176
|
|
|
29,659
|
|
|
8,274
|
|
|
2013
|
|
2008
|
|
580 S. Gilbert Road
|
Gilroy, CA
|
|
—
|
|
|
760
|
|
|
13,880
|
|
|
24,966
|
|
|
1,588
|
|
|
38,018
|
|
|
11,161
|
|
|
2006
|
|
2007
|
|
7610 Isabella Way
|
Glen Cove, NY
|
|
—
|
|
|
4,594
|
|
|
35,236
|
|
|
1,877
|
|
|
4,643
|
|
|
37,064
|
|
|
9,193
|
|
|
2013
|
|
1998
|
|
39 Forest Avenue
|
Glenview, IL
|
|
—
|
|
|
2,090
|
|
|
69,288
|
|
|
3,353
|
|
|
2,090
|
|
|
72,641
|
|
|
15,745
|
|
|
2012
|
|
2001
|
|
2200 Golf Road
|
Golden Valley, MN
|
|
—
|
|
|
1,520
|
|
|
33,513
|
|
|
1,383
|
|
|
1,602
|
|
|
34,814
|
|
|
7,025
|
|
|
2013
|
|
2005
|
|
4950 Olson Memorial Highway
|
Granbury, TX
|
|
—
|
|
|
2,040
|
|
|
30,670
|
|
|
651
|
|
|
2,040
|
|
|
31,321
|
|
|
6,325
|
|
|
2011
|
|
2009
|
|
100 Watermark Boulevard
|
Greenville, SC
|
|
—
|
|
|
310
|
|
|
4,750
|
|
|
36
|
|
|
310
|
|
|
4,786
|
|
|
1,927
|
|
|
2004
|
|
1997
|
|
23 Southpointe Dr.
|
Grimsby, ON
|
|
—
|
|
|
636
|
|
|
5,617
|
|
|
271
|
|
|
649
|
|
|
5,875
|
|
|
990
|
|
|
2015
|
|
1991
|
|
84 Main Street East
|
Grosse Pointe Woods, MI
|
|
—
|
|
|
950
|
|
|
13,662
|
|
|
611
|
|
|
950
|
|
|
14,273
|
|
|
2,835
|
|
|
2013
|
|
2006
|
|
1850 Vernier Road
|
Grosse Pointe Woods, MI
|
|
—
|
|
|
1,430
|
|
|
31,777
|
|
|
1,118
|
|
|
1,435
|
|
|
32,890
|
|
|
6,544
|
|
|
2013
|
|
2005
|
|
21260 Mack Avenue
|
Grove City, OH
|
|
36,420
|
|
|
3,575
|
|
|
85,764
|
|
|
1,420
|
|
|
3,575
|
|
|
87,184
|
|
|
15
|
|
|
2018
|
|
2017
|
|
3717 Orders Road
|
Guelph, ON
|
|
3,985
|
|
|
1,190
|
|
|
7,597
|
|
|
407
|
|
|
1,224
|
|
|
7,970
|
|
|
1,551
|
|
|
2015
|
|
1978
|
|
165 Cole Road
|
Guildford, UK
|
|
—
|
|
|
5,361
|
|
|
56,494
|
|
|
2,457
|
|
|
5,542
|
|
|
58,770
|
|
|
11,811
|
|
|
2013
|
|
2006
|
|
Astolat Way, Peasmarsh
|
Gurnee, IL
|
|
—
|
|
|
890
|
|
|
27,931
|
|
|
2,110
|
|
|
935
|
|
|
29,996
|
|
|
5,768
|
|
|
2013
|
|
2002
|
|
500 North Hunt Club Road
|
Haddonfield, NJ
|
|
—
|
|
|
520
|
|
|
16,363
|
|
|
22
|
|
|
527
|
|
|
16,378
|
|
|
1,796
|
|
|
2011
|
|
2015
|
|
132 Warwick Road
|
Hamden, CT
|
|
—
|
|
|
1,460
|
|
|
24,093
|
|
|
1,912
|
|
|
1,493
|
|
|
25,972
|
|
|
7,593
|
|
|
2011
|
|
1999
|
|
35 Hamden Hills Drive
|
Hampshire, UK
|
|
—
|
|
|
4,172
|
|
|
26,035
|
|
|
1,185
|
|
|
4,322
|
|
|
27,070
|
|
|
5,857
|
|
|
2013
|
|
2006
|
|
22-26 Church Road
|
Haverford, PA
|
|
—
|
|
|
1,880
|
|
|
33,993
|
|
|
1,305
|
|
|
1,885
|
|
|
35,293
|
|
|
7,263
|
|
|
2010
|
|
2000
|
|
731 Old Buck Lane
|
Haverhill, MA
|
|
—
|
|
|
1,720
|
|
|
50,046
|
|
|
1,165
|
|
|
1,729
|
|
|
51,202
|
|
|
7,876
|
|
|
2015
|
|
1997
|
|
254 Amesbury Road
|
Henderson, NV
|
|
—
|
|
|
880
|
|
|
29,809
|
|
|
994
|
|
|
897
|
|
|
30,786
|
|
|
6,451
|
|
|
2011
|
|
2009
|
|
1935 Paseo Verde Parkway
|
Henderson, NV
|
|
—
|
|
|
1,190
|
|
|
11,600
|
|
|
968
|
|
|
1,253
|
|
|
12,505
|
|
|
3,765
|
|
|
2013
|
|
2008
|
|
1555 West Horizon Ridge Parkway
|
High Wycombe, UK
|
|
—
|
|
|
3,567
|
|
|
13,422
|
|
|
—
|
|
|
3,567
|
|
|
13,422
|
|
|
622
|
|
|
2015
|
|
2017
|
|
The Row Lane End
|
Highland Park, IL
|
|
—
|
|
|
2,250
|
|
|
25,313
|
|
|
1,378
|
|
|
2,265
|
|
|
26,676
|
|
|
6,466
|
|
|
2013
|
|
2005
|
|
1601 Green Bay Road
|
Hingham, MA
|
|
—
|
|
|
1,440
|
|
|
32,292
|
|
|
269
|
|
|
1,444
|
|
|
32,557
|
|
|
4,511
|
|
|
2015
|
|
2012
|
|
1 Sgt. William B Terry Drive
|
Holbrook, NY
|
|
—
|
|
|
3,957
|
|
|
35,337
|
|
|
1,819
|
|
|
4,021
|
|
|
37,092
|
|
|
7,637
|
|
|
2013
|
|
2001
|
|
320 Patchogue Holbrook Road
|
Horley, UK
|
|
—
|
|
|
2,332
|
|
|
12,144
|
|
|
776
|
|
|
2,418
|
|
|
12,834
|
|
|
2,253
|
|
|
2014
|
|
2014
|
|
Court Lodge Road
|
Houston, TX
|
|
—
|
|
|
3,830
|
|
|
55,674
|
|
|
6,995
|
|
|
3,830
|
|
|
62,669
|
|
|
15,150
|
|
|
2012
|
|
1998
|
|
2929 West Holcombe Boulevard
|
Houston, TX
|
|
—
|
|
|
1,750
|
|
|
15,603
|
|
|
1,531
|
|
|
1,750
|
|
|
17,134
|
|
|
1,328
|
|
|
2016
|
|
2014
|
|
10120 Louetta Road
|
(Dollars in thousands)
|
|
|
|||||||||||||||||||||||||
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Seniors Housing Operating:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Houston, TX
|
|
—
|
|
|
960
|
|
|
16,151
|
|
|
—
|
|
|
960
|
|
|
16,151
|
|
|
7,703
|
|
|
2011
|
|
1995
|
|
10225 Cypresswood Dr
|
Howell, NJ
|
|
8,493
|
|
|
1,066
|
|
|
21,577
|
|
|
936
|
|
|
1,077
|
|
|
22,502
|
|
|
4,782
|
|
|
2010
|
|
2007
|
|
100 Meridian Place
|
Huntington Beach, CA
|
|
—
|
|
|
3,808
|
|
|
31,172
|
|
|
2,573
|
|
|
3,886
|
|
|
33,667
|
|
|
8,390
|
|
|
2013
|
|
2004
|
|
7401 Yorktown Avenue
|
Hutchinson, KS
|
|
—
|
|
|
600
|
|
|
10,590
|
|
|
324
|
|
|
604
|
|
|
10,910
|
|
|
3,986
|
|
|
2004
|
|
1997
|
|
2416 Brentwood
|
Irving, TX
|
|
—
|
|
|
1,030
|
|
|
6,823
|
|
|
1,332
|
|
|
1,030
|
|
|
8,155
|
|
|
2,320
|
|
|
2007
|
|
1999
|
|
8855 West Valley Ranch Parkway
|
Johns Creek, GA
|
|
—
|
|
|
1,580
|
|
|
23,285
|
|
|
827
|
|
|
1,588
|
|
|
24,104
|
|
|
5,111
|
|
|
2013
|
|
2009
|
|
11405 Medlock Bridge Road
|
Kanata, ON
|
|
—
|
|
|
1,689
|
|
|
28,670
|
|
|
87
|
|
|
1,663
|
|
|
28,783
|
|
|
6,073
|
|
|
2012
|
|
2005
|
|
70 Stonehaven Drive
|
Kansas City, MO
|
|
—
|
|
|
1,820
|
|
|
34,898
|
|
|
5,057
|
|
|
1,856
|
|
|
39,919
|
|
|
11,822
|
|
|
2010
|
|
1980
|
|
12100 Wornall Road
|
Kansas City, MO
|
|
5,265
|
|
|
1,930
|
|
|
39,997
|
|
|
4,923
|
|
|
1,963
|
|
|
44,887
|
|
|
13,359
|
|
|
2010
|
|
1986
|
|
6500 North Cosby Ave
|
Kansas City, MO
|
|
—
|
|
|
541
|
|
|
23,962
|
|
|
274
|
|
|
548
|
|
|
24,229
|
|
|
3,142
|
|
|
2015
|
|
2014
|
|
6460 North Cosby Avenue
|
Kelowna, BC
|
|
5,190
|
|
|
2,688
|
|
|
13,647
|
|
|
1,125
|
|
|
2,739
|
|
|
14,721
|
|
|
3,777
|
|
|
2013
|
|
1999
|
|
863 Leon Avenue
|
Kennebunk, ME
|
|
—
|
|
|
2,700
|
|
|
30,204
|
|
|
5,353
|
|
|
3,200
|
|
|
35,057
|
|
|
12,239
|
|
|
2013
|
|
2006
|
|
One Huntington Common Drive
|
Kennett Square, PA
|
|
—
|
|
|
1,050
|
|
|
22,946
|
|
|
356
|
|
|
1,092
|
|
|
23,260
|
|
|
4,837
|
|
|
2010
|
|
2008
|
|
301 Victoria Gardens Dr.
|
Kingston, ON
|
|
4,202
|
|
|
1,030
|
|
|
11,416
|
|
|
844
|
|
|
1,060
|
|
|
12,230
|
|
|
1,768
|
|
|
2015
|
|
1983
|
|
181 Ontario Street
|
Kingwood, TX
|
|
—
|
|
|
480
|
|
|
9,777
|
|
|
1,096
|
|
|
480
|
|
|
10,873
|
|
|
2,698
|
|
|
2011
|
|
1999
|
|
22955 Eastex Freeway
|
Kingwood, TX
|
|
—
|
|
|
1,683
|
|
|
24,207
|
|
|
2,465
|
|
|
1,683
|
|
|
26,672
|
|
|
2,493
|
|
|
2017
|
|
2012
|
|
24025 Kingwood Place
|
Kirkland, WA
|
|
24,600
|
|
|
3,450
|
|
|
38,709
|
|
|
1,204
|
|
|
3,523
|
|
|
39,840
|
|
|
8,936
|
|
|
2011
|
|
2009
|
|
14 Main Street South
|
Kitchener, ON
|
|
1,327
|
|
|
708
|
|
|
2,744
|
|
|
111
|
|
|
650
|
|
|
2,913
|
|
|
764
|
|
|
2013
|
|
1979
|
|
164 - 168 Ferfus Avenue
|
Kitchener, ON
|
|
4,293
|
|
|
1,130
|
|
|
9,939
|
|
|
417
|
|
|
1,163
|
|
|
10,323
|
|
|
2,398
|
|
|
2013
|
|
1988
|
|
20 Fieldgate Street
|
Kitchener, ON
|
|
3,271
|
|
|
1,093
|
|
|
7,327
|
|
|
346
|
|
|
1,112
|
|
|
7,654
|
|
|
2,201
|
|
|
2013
|
|
1964
|
|
290 Queen Street South
|
Kitchener, ON
|
|
12,164
|
|
|
1,341
|
|
|
13,939
|
|
|
2,763
|
|
|
1,324
|
|
|
16,719
|
|
|
3,178
|
|
|
2016
|
|
2003
|
|
1250 Weber Street E
|
La Palma, CA
|
|
—
|
|
|
2,950
|
|
|
16,591
|
|
|
1,313
|
|
|
2,973
|
|
|
17,881
|
|
|
3,857
|
|
|
2013
|
|
2003
|
|
5321 La Palma Avenue
|
Lafayette Hill, PA
|
|
—
|
|
|
1,750
|
|
|
11,848
|
|
|
2,311
|
|
|
1,867
|
|
|
14,042
|
|
|
3,981
|
|
|
2013
|
|
1998
|
|
429 Ridge Pike
|
Laguna Hills, CA
|
|
—
|
|
|
12,820
|
|
|
75,926
|
|
|
17,135
|
|
|
12,820
|
|
|
93,061
|
|
|
12,877
|
|
|
2016
|
|
1988
|
|
24903 Moulton Parkway
|
Laguna Woods, CA
|
|
—
|
|
|
11,280
|
|
|
76,485
|
|
|
12,253
|
|
|
11,280
|
|
|
88,738
|
|
|
12,298
|
|
|
2016
|
|
1987
|
|
24441 Calle Sonora
|
Laguna Woods, CA
|
|
—
|
|
|
9,150
|
|
|
57,842
|
|
|
8,919
|
|
|
9,150
|
|
|
66,761
|
|
|
9,651
|
|
|
2016
|
|
1986
|
|
24962 Calle Aragon
|
Lake Zurich, IL
|
|
—
|
|
|
1,470
|
|
|
9,830
|
|
|
3,002
|
|
|
1,470
|
|
|
12,832
|
|
|
4,506
|
|
|
2011
|
|
2007
|
|
550 America Court
|
Lancaster, CA
|
|
—
|
|
|
700
|
|
|
15,295
|
|
|
781
|
|
|
712
|
|
|
16,064
|
|
|
4,731
|
|
|
2010
|
|
1999
|
|
43051 15th St. West
|
Laval, QC
|
|
21,982
|
|
|
2,105
|
|
|
32,161
|
|
|
3,051
|
|
|
2,105
|
|
|
35,212
|
|
|
721
|
|
|
2018
|
|
2005
|
|
269, boulevard Ste. Rose
|
Laval, QC
|
|
4,283
|
|
|
2,383
|
|
|
5,968
|
|
|
550
|
|
|
2,383
|
|
|
6,518
|
|
|
136
|
|
|
2018
|
|
1989
|
|
263, boulevard Ste. Rose
|
Lawrenceville, GA
|
|
—
|
|
|
1,500
|
|
|
29,003
|
|
|
741
|
|
|
1,529
|
|
|
29,715
|
|
|
6,432
|
|
|
2013
|
|
2008
|
|
1375 Webb Gin House Road
|
Leatherhead, UK
|
|
—
|
|
|
4,682
|
|
|
17,835
|
|
|
—
|
|
|
4,682
|
|
|
17,835
|
|
|
718
|
|
|
2015
|
|
2017
|
|
Rectory Lane
|
Lecanto, FL
|
|
—
|
|
|
200
|
|
|
6,900
|
|
|
371
|
|
|
200
|
|
|
7,271
|
|
|
2,705
|
|
|
2004
|
|
1986
|
|
2341 W. Norvell Bryant Hwy.
|
Lenexa, KS
|
|
—
|
|
|
826
|
|
|
26,251
|
|
|
1,285
|
|
|
922
|
|
|
27,440
|
|
|
6,432
|
|
|
2013
|
|
2006
|
|
15055 West 87th Street Parkway
|
Leominster, MA
|
|
—
|
|
|
944
|
|
|
23,164
|
|
|
688
|
|
|
995
|
|
|
23,801
|
|
|
3,687
|
|
|
2015
|
|
1999
|
|
1160 Main Street
|
Lincroft, NJ
|
|
—
|
|
|
9
|
|
|
19,958
|
|
|
1,706
|
|
|
79
|
|
|
21,594
|
|
|
4,667
|
|
|
2013
|
|
2002
|
|
734 Newman Springs Road
|
Linwood, NJ
|
|
—
|
|
|
800
|
|
|
21,984
|
|
|
1,168
|
|
|
861
|
|
|
23,091
|
|
|
5,012
|
|
|
2010
|
|
1997
|
|
432 Central Ave
|
Litchfield, CT
|
|
—
|
|
|
1,240
|
|
|
17,908
|
|
|
11,060
|
|
|
1,258
|
|
|
28,950
|
|
|
4,862
|
|
|
2010
|
|
1998
|
|
19 Constitution Way
|
Little Neck, NY
|
|
—
|
|
|
3,350
|
|
|
38,461
|
|
|
1,421
|
|
|
3,358
|
|
|
39,874
|
|
|
8,411
|
|
|
2010
|
|
2000
|
|
55-15 Little Neck Pkwy.
|
Livingston, NJ
|
|
—
|
|
|
8,000
|
|
|
44,424
|
|
|
160
|
|
|
8,000
|
|
|
44,584
|
|
|
2,119
|
|
|
2015
|
|
2017
|
|
369 E Mt Pleasant Avenue
|
Lombard, IL
|
|
15,975
|
|
|
2,130
|
|
|
59,943
|
|
|
1,474
|
|
|
2,147
|
|
|
61,400
|
|
|
12,455
|
|
|
2013
|
|
2009
|
|
2210 Fountain Square Dr
|
London, UK
|
|
—
|
|
|
3,121
|
|
|
10,027
|
|
|
934
|
|
|
3,231
|
|
|
10,851
|
|
|
1,465
|
|
|
2014
|
|
2012
|
|
71 Hatch Lane
|
London, UK
|
|
—
|
|
|
7,691
|
|
|
16,797
|
|
|
—
|
|
|
7,691
|
|
|
16,797
|
|
|
1,007
|
|
|
2015
|
|
2016
|
|
6 Victoria Drive
|
(Dollars in thousands)
|
|
|
|||||||||||||||||||||||||
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Seniors Housing Operating:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
London, ON
|
|
34
|
|
|
987
|
|
|
8,228
|
|
|
628
|
|
|
1,030
|
|
|
8,813
|
|
|
1,477
|
|
|
2015
|
|
1989
|
|
760 Horizon Drive
|
London, ON
|
|
11,009
|
|
|
1,969
|
|
|
16,985
|
|
|
1,214
|
|
|
1,998
|
|
|
18,170
|
|
|
3,022
|
|
|
2015
|
|
1953
|
|
1486 Richmond Street North
|
London, ON
|
|
—
|
|
|
1,445
|
|
|
13,631
|
|
|
953
|
|
|
1,579
|
|
|
14,450
|
|
|
2,131
|
|
|
2015
|
|
1950
|
|
81 Grand Avenue
|
Longueuil, QC
|
|
9,064
|
|
|
3,992
|
|
|
23,711
|
|
|
1,778
|
|
|
4,102
|
|
|
25,379
|
|
|
4,144
|
|
|
2015
|
|
1989
|
|
70 Rue Levis
|
Los Angeles, CA
|
|
—
|
|
|
—
|
|
|
11,430
|
|
|
1,951
|
|
|
—
|
|
|
13,381
|
|
|
3,690
|
|
|
2008
|
|
1971
|
|
330 North Hayworth Avenue
|
Los Angeles, CA
|
|
60,018
|
|
|
—
|
|
|
114,438
|
|
|
2,355
|
|
|
—
|
|
|
116,793
|
|
|
28,628
|
|
|
2011
|
|
2009
|
|
10475 Wilshire Boulevard
|
Los Angeles, CA
|
|
—
|
|
|
3,540
|
|
|
19,007
|
|
|
2,583
|
|
|
3,540
|
|
|
21,590
|
|
|
4,919
|
|
|
2012
|
|
2001
|
|
2051 N. Highland Avenue
|
Los Angeles, CA
|
|
—
|
|
|
—
|
|
|
28,050
|
|
|
3,370
|
|
|
—
|
|
|
31,420
|
|
|
3,286
|
|
|
2016
|
|
2006
|
|
4061 Grand View Boulevard
|
Louisville, KY
|
|
—
|
|
|
2,420
|
|
|
20,816
|
|
|
1,863
|
|
|
2,420
|
|
|
22,679
|
|
|
5,317
|
|
|
2012
|
|
1999
|
|
4600 Bowling Boulevard
|
Louisville, KY
|
|
10,562
|
|
|
1,600
|
|
|
20,326
|
|
|
774
|
|
|
1,600
|
|
|
21,100
|
|
|
4,926
|
|
|
2013
|
|
2010
|
|
6700 Overlook Drive
|
Lynnfield, MA
|
|
—
|
|
|
3,165
|
|
|
45,200
|
|
|
2,580
|
|
|
3,507
|
|
|
47,438
|
|
|
10,225
|
|
|
2013
|
|
2006
|
|
55 Salem Street
|
Mahwah, NJ
|
|
—
|
|
|
1,605
|
|
|
27,249
|
|
|
17
|
|
|
1,605
|
|
|
27,266
|
|
|
2,539
|
|
|
2012
|
|
2015
|
|
15 Edison Road
|
Malvern, PA
|
|
—
|
|
|
1,651
|
|
|
17,194
|
|
|
2,128
|
|
|
1,739
|
|
|
19,234
|
|
|
5,499
|
|
|
2013
|
|
1998
|
|
324 Lancaster Avenue
|
Mansfield, MA
|
|
—
|
|
|
3,320
|
|
|
57,011
|
|
|
8,714
|
|
|
3,486
|
|
|
65,559
|
|
|
17,826
|
|
|
2011
|
|
1998
|
|
25 Cobb Street
|
Manteca, CA
|
|
—
|
|
|
1,300
|
|
|
12,125
|
|
|
1,648
|
|
|
1,312
|
|
|
13,761
|
|
|
5,447
|
|
|
2005
|
|
1986
|
|
430 N. Union Rd.
|
Maple Ridge, BC
|
|
8,159
|
|
|
2,875
|
|
|
11,922
|
|
|
321
|
|
|
2,943
|
|
|
12,175
|
|
|
1,489
|
|
|
2015
|
|
2009
|
|
12241 224th Street
|
Marieville, QC
|
|
6,198
|
|
|
1,278
|
|
|
12,113
|
|
|
117
|
|
|
1,302
|
|
|
12,206
|
|
|
1,691
|
|
|
2015
|
|
2002
|
|
425 rue Claude de Ramezay
|
Markham, ON
|
|
36,530
|
|
|
3,727
|
|
|
48,939
|
|
|
1,429
|
|
|
3,825
|
|
|
50,270
|
|
|
13,999
|
|
|
2013
|
|
1981
|
|
7700 Bayview Avenue
|
Marlboro, NJ
|
|
—
|
|
|
2,222
|
|
|
14,888
|
|
|
1,395
|
|
|
2,250
|
|
|
16,255
|
|
|
3,791
|
|
|
2013
|
|
2002
|
|
3A South Main Street
|
Medicine Hat, AB
|
|
10,262
|
|
|
1,432
|
|
|
14,141
|
|
|
48
|
|
|
1,460
|
|
|
14,161
|
|
|
2,923
|
|
|
2015
|
|
1999
|
|
223 Park Meadows Drive SE
|
Melbourne, FL
|
|
—
|
|
|
7,070
|
|
|
48,257
|
|
|
31,652
|
|
|
7,070
|
|
|
79,909
|
|
|
19,642
|
|
|
2007
|
|
2009
|
|
7300 Watersong Lane
|
Melville, NY
|
|
—
|
|
|
4,280
|
|
|
73,283
|
|
|
4,916
|
|
|
4,313
|
|
|
78,166
|
|
|
15,980
|
|
|
2010
|
|
2001
|
|
70 Pinelawn Rd
|
Memphis, TN
|
|
—
|
|
|
1,800
|
|
|
17,744
|
|
|
1,919
|
|
|
1,800
|
|
|
19,663
|
|
|
5,597
|
|
|
2012
|
|
1999
|
|
6605 Quail Hollow Road
|
Meriden, CT
|
|
—
|
|
|
1,500
|
|
|
14,874
|
|
|
1,429
|
|
|
1,542
|
|
|
16,261
|
|
|
5,727
|
|
|
2011
|
|
2001
|
|
511 Kensington Avenue
|
Metairie, LA
|
|
12,521
|
|
|
725
|
|
|
27,708
|
|
|
778
|
|
|
725
|
|
|
28,486
|
|
|
5,596
|
|
|
2013
|
|
2009
|
|
3732 West Esplanade Ave. S
|
Middletown, CT
|
|
—
|
|
|
1,430
|
|
|
24,242
|
|
|
1,986
|
|
|
1,460
|
|
|
26,198
|
|
|
7,799
|
|
|
2011
|
|
1999
|
|
645 Saybrook Road
|
Milford, CT
|
|
—
|
|
|
3,210
|
|
|
17,364
|
|
|
2,328
|
|
|
3,233
|
|
|
19,669
|
|
|
6,536
|
|
|
2011
|
|
1999
|
|
77 Plains Road
|
Mill Creek, WA
|
|
—
|
|
|
10,150
|
|
|
60,274
|
|
|
1,320
|
|
|
10,179
|
|
|
61,565
|
|
|
18,700
|
|
|
2010
|
|
1998
|
|
14905 Bothell-Everett Hwy
|
Milton, ON
|
|
13,723
|
|
|
4,542
|
|
|
25,321
|
|
|
1,962
|
|
|
4,627
|
|
|
27,198
|
|
|
3,433
|
|
|
2015
|
|
2012
|
|
611 Farmstead Drive
|
Minnetonka, MN
|
|
—
|
|
|
2,080
|
|
|
24,360
|
|
|
2,571
|
|
|
2,450
|
|
|
26,561
|
|
|
6,303
|
|
|
2012
|
|
1999
|
|
500 Carlson Parkway
|
Minnetonka, MN
|
|
—
|
|
|
920
|
|
|
29,344
|
|
|
1,161
|
|
|
964
|
|
|
30,461
|
|
|
5,900
|
|
|
2013
|
|
2006
|
|
18605 Old Excelsior Blvd.
|
Mission Viejo, CA
|
|
13,850
|
|
|
6,600
|
|
|
52,118
|
|
|
7,758
|
|
|
6,600
|
|
|
59,876
|
|
|
7,475
|
|
|
2016
|
|
1998
|
|
27783 Center Drive
|
Mississauga, ON
|
|
8,358
|
|
|
1,602
|
|
|
17,996
|
|
|
621
|
|
|
1,626
|
|
|
18,593
|
|
|
4,140
|
|
|
2013
|
|
1984
|
|
1130 Bough Beeches Boulevard
|
Mississauga, ON
|
|
2,816
|
|
|
873
|
|
|
4,655
|
|
|
232
|
|
|
887
|
|
|
4,873
|
|
|
1,147
|
|
|
2013
|
|
1978
|
|
3051 Constitution Boulevard
|
Mississauga, ON
|
|
26,718
|
|
|
3,649
|
|
|
35,137
|
|
|
1,441
|
|
|
3,723
|
|
|
36,504
|
|
|
8,161
|
|
|
2015
|
|
1988
|
|
1490 Rathburn Road East
|
Mississauga, ON
|
|
5,916
|
|
|
2,548
|
|
|
15,158
|
|
|
1,751
|
|
|
2,589
|
|
|
16,868
|
|
|
3,177
|
|
|
2015
|
|
1989
|
|
85 King Street East
|
Missoula, MT
|
|
—
|
|
|
550
|
|
|
7,490
|
|
|
437
|
|
|
550
|
|
|
7,927
|
|
|
2,767
|
|
|
2005
|
|
1998
|
|
3620 American Way
|
Mobberley, UK
|
|
—
|
|
|
5,146
|
|
|
26,665
|
|
|
1,834
|
|
|
5,340
|
|
|
28,305
|
|
|
7,514
|
|
|
2013
|
|
2007
|
|
Barclay Park, Hall Lane
|
Monterey, CA
|
|
—
|
|
|
6,440
|
|
|
29,101
|
|
|
1,549
|
|
|
6,440
|
|
|
30,650
|
|
|
6,486
|
|
|
2013
|
|
2009
|
|
1110 Cass St.
|
Montgomery, MD
|
|
—
|
|
|
6,482
|
|
|
83,642
|
|
|
10,924
|
|
|
6,482
|
|
|
94,566
|
|
|
3,480
|
|
|
2018
|
|
1992
|
|
3701 International Dr
|
Montgomery Village, MD
|
|
—
|
|
|
3,530
|
|
|
18,246
|
|
|
6,745
|
|
|
4,279
|
|
|
24,242
|
|
|
9,021
|
|
|
2013
|
|
1993
|
|
19310 Club House Road
|
Montreal-Nord, QC
|
|
11,740
|
|
|
4,407
|
|
|
23,719
|
|
|
2,992
|
|
|
4,407
|
|
|
26,711
|
|
|
511
|
|
|
2018
|
|
1988
|
|
6700, boulevard Gouin Est
|
(Dollars in thousands)
|
|
|
|||||||||||||||||||||||||
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Seniors Housing Operating:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Moorestown, NJ
|
|
—
|
|
|
2,060
|
|
|
51,628
|
|
|
1,982
|
|
|
2,083
|
|
|
53,587
|
|
|
11,069
|
|
|
2010
|
|
2000
|
|
1205 N. Church St
|
Moose Jaw, SK
|
|
2,076
|
|
|
582
|
|
|
12,973
|
|
|
906
|
|
|
590
|
|
|
13,871
|
|
|
3,039
|
|
|
2013
|
|
2001
|
|
425 4th Avenue NW
|
Murphy, TX
|
|
—
|
|
|
1,950
|
|
|
19,182
|
|
|
805
|
|
|
1,950
|
|
|
19,987
|
|
|
1,781
|
|
|
2015
|
|
2012
|
|
304 West FM 544
|
Naperville, IL
|
|
—
|
|
|
1,550
|
|
|
12,237
|
|
|
2,433
|
|
|
1,550
|
|
|
14,670
|
|
|
3,760
|
|
|
2012
|
|
2013
|
|
1936 Brookdale Road
|
Naperville, IL
|
|
—
|
|
|
1,540
|
|
|
28,204
|
|
|
1,392
|
|
|
1,573
|
|
|
29,563
|
|
|
6,517
|
|
|
2013
|
|
2002
|
|
535 West Ogden Avenue
|
Naples, FL
|
|
56,105
|
|
|
8,989
|
|
|
119,398
|
|
|
5,055
|
|
|
9,088
|
|
|
124,354
|
|
|
22,444
|
|
|
2015
|
|
2000
|
|
4800 Aston Gardens Way
|
Nashua, NH
|
|
—
|
|
|
1,264
|
|
|
43,026
|
|
|
1,373
|
|
|
1,264
|
|
|
44,399
|
|
|
5,491
|
|
|
2015
|
|
1999
|
|
674 West Hollis Street
|
Nashville, TN
|
|
—
|
|
|
3,900
|
|
|
35,788
|
|
|
2,848
|
|
|
3,900
|
|
|
38,636
|
|
|
10,313
|
|
|
2012
|
|
1999
|
|
4206 Stammer Place
|
Needham, MA
|
|
—
|
|
|
1,240
|
|
|
32,992
|
|
|
1,322
|
|
|
1,240
|
|
|
34,314
|
|
|
2,853
|
|
|
2016
|
|
2011
|
|
880 Greendale Avenue
|
Nepean, ON
|
|
5,387
|
|
|
1,575
|
|
|
5,770
|
|
|
528
|
|
|
1,613
|
|
|
6,260
|
|
|
1,447
|
|
|
2015
|
|
1988
|
|
1 Mill Hill Road
|
New Braunfels, TX
|
|
—
|
|
|
1,200
|
|
|
19,800
|
|
|
10,352
|
|
|
2,729
|
|
|
28,623
|
|
|
4,906
|
|
|
2011
|
|
2009
|
|
2294 East Common Street
|
Newark, DE
|
|
—
|
|
|
560
|
|
|
21,220
|
|
|
1,569
|
|
|
560
|
|
|
22,789
|
|
|
8,065
|
|
|
2004
|
|
1998
|
|
200 E. Village Rd.
|
Newbury, UK
|
|
—
|
|
|
2,850
|
|
|
12,796
|
|
|
672
|
|
|
2,946
|
|
|
13,372
|
|
|
810
|
|
|
2015
|
|
2016
|
|
370 London Road
|
Newburyport, MA
|
|
—
|
|
|
1,750
|
|
|
29,187
|
|
|
1,194
|
|
|
1,750
|
|
|
30,381
|
|
|
2,656
|
|
|
2016
|
|
2015
|
|
4 Wallace Bashaw Junior Way
|
Newmarket, UK
|
|
—
|
|
|
4,071
|
|
|
11,902
|
|
|
1,190
|
|
|
4,228
|
|
|
12,935
|
|
|
2,005
|
|
|
2014
|
|
2011
|
|
Jeddah Way
|
Newton, MA
|
|
—
|
|
|
2,250
|
|
|
43,614
|
|
|
1,253
|
|
|
2,263
|
|
|
44,854
|
|
|
11,966
|
|
|
2011
|
|
1996
|
|
2300 Washington Street
|
Newton, MA
|
|
14,881
|
|
|
2,500
|
|
|
30,681
|
|
|
3,183
|
|
|
2,574
|
|
|
33,790
|
|
|
9,409
|
|
|
2011
|
|
1996
|
|
280 Newtonville Avenue
|
Newton, MA
|
|
—
|
|
|
3,360
|
|
|
25,099
|
|
|
1,820
|
|
|
3,385
|
|
|
26,894
|
|
|
8,053
|
|
|
2011
|
|
1994
|
|
430 Centre Street
|
Newtown Square, PA
|
|
—
|
|
|
1,930
|
|
|
14,420
|
|
|
1,161
|
|
|
1,946
|
|
|
15,565
|
|
|
4,577
|
|
|
2013
|
|
2004
|
|
333 S. Newtown Street Rd.
|
Niagara Falls, ON
|
|
6,335
|
|
|
1,225
|
|
|
7,963
|
|
|
466
|
|
|
1,242
|
|
|
8,412
|
|
|
1,457
|
|
|
2015
|
|
1991
|
|
7860 Lundy's Lane
|
North Andover, MA
|
|
—
|
|
|
1,960
|
|
|
34,976
|
|
|
2,116
|
|
|
2,111
|
|
|
36,941
|
|
|
10,087
|
|
|
2011
|
|
1995
|
|
700 Chickering Road
|
North Chelmsford, MA
|
|
—
|
|
|
880
|
|
|
18,478
|
|
|
999
|
|
|
951
|
|
|
19,406
|
|
|
5,126
|
|
|
2011
|
|
1998
|
|
2 Technology Drive
|
North Dartmouth, MA
|
|
—
|
|
|
1,700
|
|
|
35,337
|
|
|
1,723
|
|
|
1,700
|
|
|
37,060
|
|
|
3,374
|
|
|
2016
|
|
1997
|
|
239 Cross Road
|
North Tustin, CA
|
|
—
|
|
|
2,880
|
|
|
18,059
|
|
|
891
|
|
|
2,975
|
|
|
18,855
|
|
|
3,564
|
|
|
2013
|
|
2000
|
|
12291 Newport Avenue
|
Oak Park, IL
|
|
—
|
|
|
1,250
|
|
|
40,383
|
|
|
1,749
|
|
|
1,250
|
|
|
42,132
|
|
|
9,526
|
|
|
2012
|
|
2004
|
|
1035 Madison Street
|
Oakland, CA
|
|
—
|
|
|
3,877
|
|
|
47,508
|
|
|
3,252
|
|
|
4,036
|
|
|
50,601
|
|
|
10,954
|
|
|
2013
|
|
1999
|
|
11889 Skyline Boulevard
|
Oakton, VA
|
|
—
|
|
|
2,250
|
|
|
37,576
|
|
|
2,218
|
|
|
2,378
|
|
|
39,666
|
|
|
8,352
|
|
|
2013
|
|
1997
|
|
2863 Hunter Mill Road
|
Oakville, ON
|
|
5,499
|
|
|
1,252
|
|
|
7,382
|
|
|
373
|
|
|
1,278
|
|
|
7,729
|
|
|
1,795
|
|
|
2013
|
|
1982
|
|
289 and 299 Randall Street
|
Oakville, ON
|
|
9,164
|
|
|
2,134
|
|
|
29,963
|
|
|
1,107
|
|
|
2,165
|
|
|
31,039
|
|
|
7,349
|
|
|
2013
|
|
1994
|
|
25 Lakeshore Road West
|
Oakville, ON
|
|
4,797
|
|
|
1,271
|
|
|
13,754
|
|
|
606
|
|
|
1,289
|
|
|
14,342
|
|
|
2,929
|
|
|
2013
|
|
1988
|
|
345 Church Street
|
Oceanside, CA
|
|
—
|
|
|
2,160
|
|
|
18,352
|
|
|
4,094
|
|
|
2,243
|
|
|
22,363
|
|
|
6,097
|
|
|
2011
|
|
2005
|
|
3500 Lake Boulevard
|
Ogden, UT
|
|
—
|
|
|
360
|
|
|
6,700
|
|
|
731
|
|
|
360
|
|
|
7,431
|
|
|
2,689
|
|
|
2004
|
|
1998
|
|
1340 N. Washington Blv.
|
Okotoks, AB
|
|
17,892
|
|
|
714
|
|
|
20,943
|
|
|
557
|
|
|
728
|
|
|
21,486
|
|
|
3,640
|
|
|
2015
|
|
2010
|
|
51 Riverside Gate
|
Oshawa, ON
|
|
6,547
|
|
|
841
|
|
|
7,570
|
|
|
458
|
|
|
884
|
|
|
7,985
|
|
|
1,834
|
|
|
2013
|
|
1991
|
|
649 King Street East
|
Ottawa, ON
|
|
9,469
|
|
|
1,341
|
|
|
15,425
|
|
|
1,439
|
|
|
1,396
|
|
|
16,809
|
|
|
2,176
|
|
|
2015
|
|
2001
|
|
110 Berrigan Drive
|
Ottawa, ON
|
|
17,808
|
|
|
3,454
|
|
|
23,309
|
|
|
1,351
|
|
|
3,559
|
|
|
24,555
|
|
|
6,617
|
|
|
2015
|
|
1966
|
|
2370 Carling Avenue
|
Ottawa, ON
|
|
20,414
|
|
|
4,256
|
|
|
39,141
|
|
|
—
|
|
|
4,256
|
|
|
39,141
|
|
|
5,917
|
|
|
2015
|
|
2005
|
|
751 Peter Morand Crescent
|
Ottawa, ON
|
|
7,070
|
|
|
2,103
|
|
|
18,421
|
|
|
3,150
|
|
|
2,180
|
|
|
21,494
|
|
|
3,096
|
|
|
2015
|
|
1989
|
|
1 Eaton Street
|
Ottawa, ON
|
|
13,444
|
|
|
2,963
|
|
|
26,424
|
|
|
1,880
|
|
|
3,041
|
|
|
28,226
|
|
|
3,647
|
|
|
2015
|
|
2008
|
|
691 Valin Street
|
Ottawa, ON
|
|
10,161
|
|
|
1,561
|
|
|
18,170
|
|
|
1,336
|
|
|
1,647
|
|
|
19,420
|
|
|
2,412
|
|
|
2015
|
|
2006
|
|
22 Barnstone Drive
|
Ottawa, ON
|
|
13,568
|
|
|
3,403
|
|
|
31,090
|
|
|
1,941
|
|
|
3,467
|
|
|
32,967
|
|
|
4,134
|
|
|
2015
|
|
2009
|
|
990 Hunt Club Road
|
Ottawa, ON
|
|
17,204
|
|
|
3,411
|
|
|
28,335
|
|
|
4,152
|
|
|
3,502
|
|
|
32,396
|
|
|
5,257
|
|
|
2015
|
|
2009
|
|
2 Valley Stream Drive
|
Ottawa, ON
|
|
2,765
|
|
|
724
|
|
|
4,710
|
|
|
231
|
|
|
735
|
|
|
4,930
|
|
|
1,171
|
|
|
2013
|
|
1995
|
|
1345 Ogilvie Road
|
(Dollars in thousands)
|
|
|
|||||||||||||||||||||||||
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Seniors Housing Operating:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Ottawa, ON
|
|
2,012
|
|
|
818
|
|
|
2,165
|
|
|
1,192
|
|
|
691
|
|
|
3,484
|
|
|
888
|
|
|
2013
|
|
1993
|
|
370 Kennedy Lane
|
Ottawa, ON
|
|
9,559
|
|
|
2,809
|
|
|
27,299
|
|
|
1,253
|
|
|
2,880
|
|
|
28,481
|
|
|
7,177
|
|
|
2013
|
|
1998
|
|
43 Aylmer Avenue
|
Ottawa, ON
|
|
4,441
|
|
|
1,156
|
|
|
9,758
|
|
|
481
|
|
|
1,227
|
|
|
10,168
|
|
|
2,151
|
|
|
2013
|
|
1998
|
|
1351 Hunt Club Road
|
Ottawa, ON
|
|
5,778
|
|
|
746
|
|
|
7,800
|
|
|
541
|
|
|
763
|
|
|
8,324
|
|
|
1,805
|
|
|
2013
|
|
1999
|
|
140 Darlington Private
|
Ottawa, ON
|
|
8,729
|
|
|
1,176
|
|
|
12,764
|
|
|
778
|
|
|
1,231
|
|
|
13,487
|
|
|
1,876
|
|
|
2015
|
|
1987
|
|
10 Vaughan Street
|
Outremont, QC
|
|
17,544
|
|
|
6,746
|
|
|
45,981
|
|
|
5,133
|
|
|
6,746
|
|
|
51,114
|
|
|
1,007
|
|
|
2018
|
|
1976
|
|
1000, avenue Rockland
|
Palo Alto, CA
|
|
—
|
|
|
—
|
|
|
39,639
|
|
|
3,055
|
|
|
24
|
|
|
42,670
|
|
|
8,872
|
|
|
2013
|
|
2007
|
|
2701 El Camino Real
|
Paramus, NJ
|
|
—
|
|
|
2,840
|
|
|
35,728
|
|
|
1,729
|
|
|
2,947
|
|
|
37,350
|
|
|
7,659
|
|
|
2013
|
|
1998
|
|
567 Paramus Road
|
Parkland, FL
|
|
55,694
|
|
|
4,880
|
|
|
111,481
|
|
|
4,087
|
|
|
4,904
|
|
|
115,544
|
|
|
20,538
|
|
|
2015
|
|
2000
|
|
5999 University Drive
|
Paso Robles, CA
|
|
—
|
|
|
1,770
|
|
|
8,630
|
|
|
707
|
|
|
1,770
|
|
|
9,337
|
|
|
4,032
|
|
|
2002
|
|
1998
|
|
1919 Creston Rd.
|
Peabody, MA
|
|
6,012
|
|
|
2,250
|
|
|
16,071
|
|
|
1,099
|
|
|
2,324
|
|
|
17,096
|
|
|
2,858
|
|
|
2013
|
|
1994
|
|
73 Margin Street
|
Pembroke, ON
|
|
—
|
|
|
1,931
|
|
|
9,427
|
|
|
433
|
|
|
1,901
|
|
|
9,890
|
|
|
2,011
|
|
|
2012
|
|
1999
|
|
1111 Pembroke Street West
|
Pennington, NJ
|
|
—
|
|
|
1,380
|
|
|
27,620
|
|
|
1,115
|
|
|
1,491
|
|
|
28,624
|
|
|
5,562
|
|
|
2011
|
|
2000
|
|
143 West Franklin Avenue
|
Peoria, AZ
|
|
—
|
|
|
766
|
|
|
21,796
|
|
|
1,635
|
|
|
766
|
|
|
23,431
|
|
|
1,482
|
|
|
2018
|
|
2014
|
|
13391 N 94th Drive
|
Pittsburgh, PA
|
|
—
|
|
|
1,580
|
|
|
18,017
|
|
|
925
|
|
|
1,587
|
|
|
18,935
|
|
|
4,437
|
|
|
2013
|
|
2009
|
|
900 Lincoln Club Dr.
|
Placentia, CA
|
|
—
|
|
|
8,480
|
|
|
17,076
|
|
|
5,087
|
|
|
8,480
|
|
|
22,163
|
|
|
3,576
|
|
|
2016
|
|
1987
|
|
1180 N Bradford Avenue
|
Plainview, NY
|
|
—
|
|
|
3,066
|
|
|
19,901
|
|
|
1,018
|
|
|
3,182
|
|
|
20,803
|
|
|
4,124
|
|
|
2013
|
|
2001
|
|
1231 Old Country Road
|
Plano, TX
|
|
—
|
|
|
3,120
|
|
|
59,950
|
|
|
3,124
|
|
|
3,173
|
|
|
63,021
|
|
|
16,579
|
|
|
2013
|
|
2006
|
|
4800 West Parker Road
|
Plano, TX
|
|
—
|
|
|
1,750
|
|
|
15,390
|
|
|
1,954
|
|
|
1,750
|
|
|
17,344
|
|
|
1,626
|
|
|
2016
|
|
2014
|
|
3690 Mapleshade Lane
|
Playa Vista, CA
|
|
—
|
|
|
1,580
|
|
|
40,531
|
|
|
1,636
|
|
|
1,605
|
|
|
42,142
|
|
|
8,978
|
|
|
2013
|
|
2006
|
|
5555 Playa Vista Drive
|
Plymouth, MA
|
|
—
|
|
|
1,444
|
|
|
34,951
|
|
|
1,122
|
|
|
1,453
|
|
|
36,064
|
|
|
5,093
|
|
|
2015
|
|
1998
|
|
157 South Street
|
Plymouth, MA
|
|
13,169
|
|
|
2,550
|
|
|
35,055
|
|
|
2,256
|
|
|
2,550
|
|
|
37,311
|
|
|
3,895
|
|
|
2016
|
|
1970
|
|
60 Stafford Hill
|
Port Perry, ON
|
|
11,989
|
|
|
3,685
|
|
|
26,788
|
|
|
2,365
|
|
|
3,747
|
|
|
29,091
|
|
|
3,509
|
|
|
2015
|
|
2009
|
|
15987 Simcoe Street
|
Port St. Lucie, FL
|
|
—
|
|
|
8,700
|
|
|
47,230
|
|
|
20,478
|
|
|
8,700
|
|
|
67,708
|
|
|
15,304
|
|
|
2008
|
|
2010
|
|
10685 SW Stony Creek Way
|
Princeton, NJ
|
|
—
|
|
|
1,730
|
|
|
30,888
|
|
|
1,839
|
|
|
1,810
|
|
|
32,647
|
|
|
6,494
|
|
|
2011
|
|
2001
|
|
155 Raymond Road
|
Purley, UK
|
|
—
|
|
|
7,365
|
|
|
35,161
|
|
|
2,104
|
|
|
7,625
|
|
|
37,005
|
|
|
8,905
|
|
|
2012
|
|
2005
|
|
21 Russell Hill Road
|
Quebec City, QC
|
|
8,495
|
|
|
2,420
|
|
|
21,977
|
|
|
1,767
|
|
|
2,420
|
|
|
23,744
|
|
|
466
|
|
|
2018
|
|
2000
|
|
795, rue Alain
|
Quebec City, QC
|
|
12,067
|
|
|
3,300
|
|
|
28,325
|
|
|
2,207
|
|
|
3,300
|
|
|
30,532
|
|
|
605
|
|
|
2018
|
|
1987
|
|
650 and 700, avenue Murray
|
Queensbury, NY
|
|
—
|
|
|
1,260
|
|
|
21,744
|
|
|
1,014
|
|
|
1,264
|
|
|
22,754
|
|
|
3,140
|
|
|
2015
|
|
1999
|
|
27 Woodvale Road
|
Quincy, MA
|
|
—
|
|
|
1,350
|
|
|
12,584
|
|
|
981
|
|
|
1,428
|
|
|
13,487
|
|
|
4,083
|
|
|
2011
|
|
1998
|
|
2003 Falls Boulevard
|
Rancho Cucamonga, CA
|
|
—
|
|
|
1,480
|
|
|
10,055
|
|
|
1,848
|
|
|
2,073
|
|
|
11,310
|
|
|
2,978
|
|
|
2013
|
|
2001
|
|
9519 Baseline Road
|
Rancho Palos Verdes, CA
|
|
—
|
|
|
5,450
|
|
|
60,034
|
|
|
2,453
|
|
|
5,450
|
|
|
62,487
|
|
|
14,179
|
|
|
2012
|
|
2004
|
|
5701 Crestridge Road
|
Randolph, NJ
|
|
—
|
|
|
1,540
|
|
|
46,934
|
|
|
1,379
|
|
|
1,619
|
|
|
48,234
|
|
|
9,841
|
|
|
2013
|
|
2006
|
|
648 Route 10 West
|
Red Deer, AB
|
|
12,026
|
|
|
1,247
|
|
|
19,283
|
|
|
592
|
|
|
1,273
|
|
|
19,849
|
|
|
3,093
|
|
|
2015
|
|
2004
|
|
3100 - 22 Street
|
Red Deer, AB
|
|
14,153
|
|
|
1,199
|
|
|
22,339
|
|
|
632
|
|
|
1,219
|
|
|
22,951
|
|
|
3,655
|
|
|
2015
|
|
2004
|
|
10 Inglewood Drive
|
Redondo Beach, CA
|
|
—
|
|
|
—
|
|
|
9,557
|
|
|
913
|
|
|
—
|
|
|
10,470
|
|
|
6,436
|
|
|
2011
|
|
1957
|
|
514 North Prospect Ave
|
Regina, SK
|
|
6,224
|
|
|
1,485
|
|
|
21,148
|
|
|
638
|
|
|
1,525
|
|
|
21,746
|
|
|
5,280
|
|
|
2013
|
|
1999
|
|
3651 Albert Street
|
Regina, SK
|
|
6,158
|
|
|
1,244
|
|
|
21,036
|
|
|
716
|
|
|
1,267
|
|
|
21,729
|
|
|
4,579
|
|
|
2013
|
|
2004
|
|
3105 Hillsdale Street
|
Regina, SK
|
|
15,076
|
|
|
1,539
|
|
|
24,053
|
|
|
2,617
|
|
|
1,579
|
|
|
26,630
|
|
|
3,750
|
|
|
2015
|
|
1992
|
|
1801 McIntyre Street
|
Rehoboth Beach, DE
|
|
—
|
|
|
960
|
|
|
24,248
|
|
|
8,847
|
|
|
993
|
|
|
33,062
|
|
|
6,077
|
|
|
2010
|
|
1999
|
|
36101 Seaside Blvd
|
Renton, WA
|
|
20,790
|
|
|
3,080
|
|
|
51,824
|
|
|
1,999
|
|
|
3,124
|
|
|
53,779
|
|
|
11,898
|
|
|
2011
|
|
2007
|
|
104 Burnett Avenue South
|
Ridgefield, CT
|
|
—
|
|
|
3,100
|
|
|
80,614
|
|
|
5,250
|
|
|
3,152
|
|
|
85,812
|
|
|
13,614
|
|
|
2015
|
|
1998
|
|
640 Danbury Road
|
(Dollars in thousands)
|
|
|
|||||||||||||||||||||||||
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Seniors Housing Operating:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Riviere-du-Loup, QC
|
|
2,892
|
|
|
592
|
|
|
7,601
|
|
|
761
|
|
|
590
|
|
|
8,364
|
|
|
1,150
|
|
|
2015
|
|
1956
|
|
35 des Cedres
|
Riviere-du-Loup, QC
|
|
11,905
|
|
|
1,454
|
|
|
16,848
|
|
|
3,500
|
|
|
1,563
|
|
|
20,239
|
|
|
3,453
|
|
|
2015
|
|
1993
|
|
230-235 rue Des Chenes
|
Rocky Hill, CT
|
|
—
|
|
|
1,090
|
|
|
6,710
|
|
|
1,534
|
|
|
1,090
|
|
|
8,244
|
|
|
3,089
|
|
|
2003
|
|
1996
|
|
60 Cold Spring Rd.
|
Rocky Hill, CT
|
|
—
|
|
|
810
|
|
|
16,351
|
|
|
833
|
|
|
926
|
|
|
17,068
|
|
|
4,679
|
|
|
2011
|
|
2000
|
|
1160 Elm Street
|
Rohnert Park, CA
|
|
—
|
|
|
6,500
|
|
|
18,700
|
|
|
2,205
|
|
|
6,556
|
|
|
20,849
|
|
|
7,644
|
|
|
2005
|
|
1986
|
|
4855 Snyder Lane
|
Romeoville, IL
|
|
—
|
|
|
854
|
|
|
12,646
|
|
|
61,135
|
|
|
6,197
|
|
|
68,438
|
|
|
16,480
|
|
|
2006
|
|
2010
|
|
605 S Edward Dr.
|
Roseville, MN
|
|
—
|
|
|
1,540
|
|
|
35,877
|
|
|
1,053
|
|
|
1,607
|
|
|
36,863
|
|
|
7,263
|
|
|
2013
|
|
2002
|
|
2555 Snelling Avenue, North
|
Roseville, CA
|
|
—
|
|
|
3,300
|
|
|
41,652
|
|
|
6,273
|
|
|
3,300
|
|
|
47,925
|
|
|
6,003
|
|
|
2016
|
|
2000
|
|
5161 Foothills Boulevard
|
Sacramento, CA
|
|
—
|
|
|
940
|
|
|
14,781
|
|
|
314
|
|
|
952
|
|
|
15,083
|
|
|
4,097
|
|
|
2010
|
|
1978
|
|
6350 Riverside Blvd
|
Sacramento, CA
|
|
—
|
|
|
1,300
|
|
|
23,394
|
|
|
1,402
|
|
|
1,369
|
|
|
24,727
|
|
|
5,105
|
|
|
2013
|
|
2004
|
|
345 Munroe Street
|
Saint-Lambert, QC
|
|
33,431
|
|
|
10,259
|
|
|
61,903
|
|
|
366
|
|
|
10,499
|
|
|
62,029
|
|
|
12,901
|
|
|
2015
|
|
1989
|
|
1705 Avenue Victoria
|
Salem, NH
|
|
—
|
|
|
980
|
|
|
32,721
|
|
|
4,326
|
|
|
1,054
|
|
|
36,973
|
|
|
8,805
|
|
|
2011
|
|
2000
|
|
242 Main Street
|
Salinas, CA
|
|
—
|
|
|
5,110
|
|
|
41,424
|
|
|
7,694
|
|
|
5,110
|
|
|
49,118
|
|
|
7,379
|
|
|
2016
|
|
1990
|
|
1320 Padre Drive
|
Salisbury, UK
|
|
—
|
|
|
2,720
|
|
|
15,269
|
|
|
719
|
|
|
2,812
|
|
|
15,896
|
|
|
2,011
|
|
|
2014
|
|
2013
|
|
Shapland Close
|
Salt Lake City, UT
|
|
—
|
|
|
1,360
|
|
|
19,691
|
|
|
1,601
|
|
|
1,360
|
|
|
21,292
|
|
|
6,988
|
|
|
2011
|
|
1986
|
|
1430 E. 4500 S.
|
San Angelo, TX
|
|
—
|
|
|
260
|
|
|
8,800
|
|
|
459
|
|
|
266
|
|
|
9,253
|
|
|
3,349
|
|
|
2004
|
|
1997
|
|
2695 Valleyview Blvd.
|
San Antonio, TX
|
|
—
|
|
|
6,120
|
|
|
28,169
|
|
|
2,590
|
|
|
6,120
|
|
|
30,759
|
|
|
6,071
|
|
|
2010
|
|
2011
|
|
2702 Cembalo Blvd
|
San Antonio, TX
|
|
—
|
|
|
5,045
|
|
|
58,048
|
|
|
3,228
|
|
|
5,045
|
|
|
61,276
|
|
|
3,306
|
|
|
2017
|
|
2015
|
|
11300 Wild Pine
|
San Diego, CA
|
|
—
|
|
|
4,200
|
|
|
30,707
|
|
|
731
|
|
|
4,243
|
|
|
31,395
|
|
|
5,825
|
|
|
2011
|
|
2011
|
|
2567 Second Avenue
|
San Diego, CA
|
|
—
|
|
|
5,810
|
|
|
63,078
|
|
|
2,808
|
|
|
5,810
|
|
|
65,886
|
|
|
17,092
|
|
|
2012
|
|
2001
|
|
13075 Evening Creek Drive S
|
San Diego, CA
|
|
—
|
|
|
3,000
|
|
|
27,164
|
|
|
881
|
|
|
3,016
|
|
|
28,029
|
|
|
5,495
|
|
|
2013
|
|
2003
|
|
810 Turquoise Street
|
San Francisco, CA
|
|
—
|
|
|
5,920
|
|
|
91,639
|
|
|
12,609
|
|
|
5,920
|
|
|
104,248
|
|
|
13,874
|
|
|
2016
|
|
1998
|
|
1550 Sutter Street
|
San Francisco, CA
|
|
—
|
|
|
11,800
|
|
|
77,214
|
|
|
9,969
|
|
|
11,800
|
|
|
87,183
|
|
|
11,932
|
|
|
2016
|
|
1923
|
|
1601 19th Avenue
|
San Gabriel, CA
|
|
—
|
|
|
3,120
|
|
|
15,566
|
|
|
948
|
|
|
3,138
|
|
|
16,496
|
|
|
3,797
|
|
|
2013
|
|
2005
|
|
8332 Huntington Drive
|
San Jose, CA
|
|
—
|
|
|
2,850
|
|
|
35,098
|
|
|
811
|
|
|
2,858
|
|
|
35,901
|
|
|
8,000
|
|
|
2011
|
|
2009
|
|
1420 Curvi Drive
|
San Jose, CA
|
|
—
|
|
|
3,280
|
|
|
46,823
|
|
|
3,149
|
|
|
3,280
|
|
|
49,972
|
|
|
11,218
|
|
|
2012
|
|
2002
|
|
500 S Winchester Boulevard
|
San Jose, CA
|
|
—
|
|
|
11,900
|
|
|
27,647
|
|
|
4,820
|
|
|
11,900
|
|
|
32,467
|
|
|
4,801
|
|
|
2016
|
|
2002
|
|
4855 San Felipe Road
|
San Juan Capistrano, CA
|
|
—
|
|
|
1,390
|
|
|
6,942
|
|
|
1,450
|
|
|
1,390
|
|
|
8,392
|
|
|
3,797
|
|
|
2000
|
|
2001
|
|
30311 Camino Capistrano
|
San Rafael, CA
|
|
—
|
|
|
1,620
|
|
|
27,392
|
|
|
2,858
|
|
|
1,832
|
|
|
30,038
|
|
|
3,412
|
|
|
2016
|
|
2001
|
|
111 Merrydale Road
|
San Ramon, CA
|
|
—
|
|
|
8,700
|
|
|
72,223
|
|
|
9,628
|
|
|
8,700
|
|
|
81,851
|
|
|
11,263
|
|
|
2016
|
|
1992
|
|
9199 Fircrest Lane
|
Sandy Springs, GA
|
|
—
|
|
|
2,214
|
|
|
8,360
|
|
|
1,307
|
|
|
2,220
|
|
|
9,661
|
|
|
2,733
|
|
|
2012
|
|
1997
|
|
5455 Glenridge Drive NE
|
Santa Maria, CA
|
|
—
|
|
|
6,050
|
|
|
50,658
|
|
|
3,231
|
|
|
6,089
|
|
|
53,850
|
|
|
14,846
|
|
|
2011
|
|
2001
|
|
1220 Suey Road
|
Santa Monica, CA
|
|
18,727
|
|
|
5,250
|
|
|
28,340
|
|
|
950
|
|
|
5,263
|
|
|
29,277
|
|
|
6,184
|
|
|
2013
|
|
2004
|
|
1312 15th Street
|
Santa Rosa, CA
|
|
—
|
|
|
2,250
|
|
|
26,273
|
|
|
3,303
|
|
|
2,250
|
|
|
29,576
|
|
|
3,623
|
|
|
2016
|
|
2001
|
|
4225 Wayvern Drive
|
Saskatoon, SK
|
|
3,840
|
|
|
981
|
|
|
13,905
|
|
|
501
|
|
|
995
|
|
|
14,392
|
|
|
2,916
|
|
|
2013
|
|
1999
|
|
220 24th Street East
|
Saskatoon, SK
|
|
13,125
|
|
|
1,382
|
|
|
17,609
|
|
|
766
|
|
|
1,403
|
|
|
18,354
|
|
|
3,632
|
|
|
2013
|
|
2004
|
|
1622 Acadia Drive
|
Schaumburg, IL
|
|
—
|
|
|
2,460
|
|
|
22,863
|
|
|
1,175
|
|
|
2,497
|
|
|
24,001
|
|
|
5,884
|
|
|
2013
|
|
2001
|
|
790 North Plum Grove Road
|
Scottsdale, AZ
|
|
—
|
|
|
2,500
|
|
|
3,890
|
|
|
1,664
|
|
|
2,500
|
|
|
5,554
|
|
|
1,614
|
|
|
2008
|
|
1998
|
|
9410 East Thunderbird Road
|
Seal Beach, CA
|
|
—
|
|
|
6,204
|
|
|
72,954
|
|
|
2,078
|
|
|
6,271
|
|
|
74,965
|
|
|
19,259
|
|
|
2013
|
|
2004
|
|
3850 Lampson Avenue
|
Seattle, WA
|
|
—
|
|
|
5,190
|
|
|
9,350
|
|
|
748
|
|
|
5,199
|
|
|
10,089
|
|
|
3,616
|
|
|
2010
|
|
1962
|
|
11501 15th Ave NE
|
Seattle, WA
|
|
27,180
|
|
|
10,670
|
|
|
37,291
|
|
|
1,094
|
|
|
10,700
|
|
|
38,355
|
|
|
12,353
|
|
|
2010
|
|
2005
|
|
805 4th Ave N
|
Seattle, WA
|
|
48,540
|
|
|
6,790
|
|
|
85,369
|
|
|
3,258
|
|
|
6,825
|
|
|
88,592
|
|
|
20,335
|
|
|
2011
|
|
2009
|
|
5300 24th Avenue NE
|
Seattle, WA
|
|
—
|
|
|
1,150
|
|
|
19,887
|
|
|
1,284
|
|
|
1,153
|
|
|
21,168
|
|
|
2,724
|
|
|
2015
|
|
1995
|
|
11039 17th Avenue
|
(Dollars in thousands)
|
|
|
|||||||||||||||||||||||||
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Seniors Housing Operating:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Selbyville, DE
|
|
—
|
|
|
750
|
|
|
25,912
|
|
|
508
|
|
|
769
|
|
|
26,401
|
|
|
5,564
|
|
|
2010
|
|
2008
|
|
21111 Arrington Dr
|
Sevenoaks, UK
|
|
—
|
|
|
6,181
|
|
|
40,240
|
|
|
4,176
|
|
|
6,390
|
|
|
44,207
|
|
|
10,318
|
|
|
2012
|
|
2009
|
|
64 - 70 Westerham Road
|
Severna Park, MD
|
|
—
|
|
|
—
|
|
|
67,623
|
|
|
5,574
|
|
|
24
|
|
|
73,173
|
|
|
8,947
|
|
|
2016
|
|
1997
|
|
43 W McKinsey Road
|
Shelburne, VT
|
|
—
|
|
|
720
|
|
|
31,041
|
|
|
1,966
|
|
|
777
|
|
|
32,950
|
|
|
8,191
|
|
|
2011
|
|
1988
|
|
687 Harbor Road
|
Shelby Township, MI
|
|
—
|
|
|
1,040
|
|
|
26,344
|
|
|
1,439
|
|
|
1,105
|
|
|
27,718
|
|
|
5,566
|
|
|
2013
|
|
2006
|
|
46471 Hayes Road
|
Shelton, CT
|
|
—
|
|
|
2,246
|
|
|
33,967
|
|
|
42
|
|
|
2,246
|
|
|
34,009
|
|
|
3,424
|
|
|
2013
|
|
2014
|
|
708A Bridgeport Avenue
|
Shrewsbury, NJ
|
|
—
|
|
|
2,120
|
|
|
38,116
|
|
|
1,244
|
|
|
2,138
|
|
|
39,342
|
|
|
8,247
|
|
|
2010
|
|
2000
|
|
5 Meridian Way
|
Shrewsbury, MA
|
|
—
|
|
|
950
|
|
|
26,824
|
|
|
1,397
|
|
|
956
|
|
|
28,215
|
|
|
4,209
|
|
|
2015
|
|
1997
|
|
3111 Main Street
|
Sidcup, UK
|
|
—
|
|
|
7,446
|
|
|
56,570
|
|
|
3,312
|
|
|
7,714
|
|
|
59,614
|
|
|
15,051
|
|
|
2012
|
|
2000
|
|
Frognal Avenue
|
Simi Valley, CA
|
|
—
|
|
|
3,200
|
|
|
16,664
|
|
|
1,092
|
|
|
3,298
|
|
|
17,658
|
|
|
4,909
|
|
|
2013
|
|
2009
|
|
190 Tierra Rejada Road
|
Simi Valley, CA
|
|
—
|
|
|
5,510
|
|
|
51,406
|
|
|
8,073
|
|
|
5,510
|
|
|
59,479
|
|
|
8,314
|
|
|
2016
|
|
2003
|
|
5300 E Los Angeles Avenue
|
Solihull, UK
|
|
—
|
|
|
5,070
|
|
|
43,297
|
|
|
4,211
|
|
|
5,241
|
|
|
47,337
|
|
|
10,579
|
|
|
2012
|
|
2009
|
|
1270 Warwick Road
|
Solihull, UK
|
|
—
|
|
|
3,571
|
|
|
26,053
|
|
|
1,429
|
|
|
3,692
|
|
|
27,361
|
|
|
6,320
|
|
|
2013
|
|
2007
|
|
1 Worcester Way
|
Solihull, UK
|
|
—
|
|
|
1,851
|
|
|
10,585
|
|
|
499
|
|
|
1,913
|
|
|
11,022
|
|
|
770
|
|
|
2015
|
|
2016
|
|
Warwick Road
|
Sonning, UK
|
|
—
|
|
|
5,644
|
|
|
42,155
|
|
|
2,660
|
|
|
5,853
|
|
|
44,606
|
|
|
9,317
|
|
|
2013
|
|
2009
|
|
Old Bath Rd.
|
Sonoma, CA
|
|
—
|
|
|
1,100
|
|
|
18,400
|
|
|
1,773
|
|
|
1,109
|
|
|
20,164
|
|
|
7,332
|
|
|
2005
|
|
1988
|
|
800 Oregon St.
|
Sonoma, CA
|
|
—
|
|
|
2,820
|
|
|
21,890
|
|
|
2,683
|
|
|
2,820
|
|
|
24,573
|
|
|
3,043
|
|
|
2016
|
|
2005
|
|
91 Napa Road
|
St. Albert, AB
|
|
7,432
|
|
|
1,145
|
|
|
17,863
|
|
|
1,854
|
|
|
1,185
|
|
|
19,677
|
|
|
5,098
|
|
|
2014
|
|
2005
|
|
78C McKenney Avenue
|
St. John's, NL
|
|
5,444
|
|
|
706
|
|
|
11,765
|
|
|
73
|
|
|
711
|
|
|
11,833
|
|
|
1,575
|
|
|
2015
|
|
2005
|
|
64 Portugal Cove Road
|
Stittsville, ON
|
|
4,237
|
|
|
1,175
|
|
|
17,397
|
|
|
753
|
|
|
1,192
|
|
|
18,133
|
|
|
3,630
|
|
|
2013
|
|
1996
|
|
1340 - 1354 Main Street
|
Stockport, UK
|
|
—
|
|
|
4,369
|
|
|
25,018
|
|
|
1,329
|
|
|
4,521
|
|
|
26,195
|
|
|
6,471
|
|
|
2013
|
|
2008
|
|
1 Dairyground Road
|
Stockton, CA
|
|
—
|
|
|
2,280
|
|
|
5,983
|
|
|
513
|
|
|
2,372
|
|
|
6,404
|
|
|
2,006
|
|
|
2010
|
|
1988
|
|
6725 Inglewood
|
Studio City, CA
|
|
—
|
|
|
4,006
|
|
|
25,307
|
|
|
1,151
|
|
|
4,109
|
|
|
26,355
|
|
|
6,453
|
|
|
2013
|
|
2004
|
|
4610 Coldwater Canyon Avenue
|
Sugar Land, TX
|
|
—
|
|
|
960
|
|
|
31,423
|
|
|
1,339
|
|
|
960
|
|
|
32,762
|
|
|
8,143
|
|
|
2011
|
|
1996
|
|
1221 Seventh St
|
Sugar Land, TX
|
|
—
|
|
|
4,272
|
|
|
60,493
|
|
|
6,530
|
|
|
4,272
|
|
|
67,023
|
|
|
4,864
|
|
|
2017
|
|
2015
|
|
744 Brooks Street
|
Sun City, FL
|
|
20,951
|
|
|
6,521
|
|
|
48,476
|
|
|
5,134
|
|
|
6,648
|
|
|
53,483
|
|
|
11,537
|
|
|
2015
|
|
1995
|
|
231 Courtyards
|
Sun City, FL
|
|
23,606
|
|
|
5,040
|
|
|
50,923
|
|
|
4,577
|
|
|
5,369
|
|
|
55,171
|
|
|
10,639
|
|
|
2015
|
|
1999
|
|
1311 Aston Gardens Court
|
Sunnyvale, CA
|
|
—
|
|
|
5,420
|
|
|
41,682
|
|
|
2,155
|
|
|
5,420
|
|
|
43,837
|
|
|
10,239
|
|
|
2012
|
|
2002
|
|
1039 East El Camino Real
|
Surrey, BC
|
|
6,323
|
|
|
3,605
|
|
|
18,818
|
|
|
1,018
|
|
|
3,658
|
|
|
19,783
|
|
|
5,725
|
|
|
2013
|
|
2000
|
|
16028 83rd Avenue
|
Surrey, BC
|
|
15,142
|
|
|
4,552
|
|
|
22,338
|
|
|
1,332
|
|
|
4,631
|
|
|
23,591
|
|
|
7,190
|
|
|
2013
|
|
1987
|
|
15501 16th Avenue
|
Sutton, UK
|
|
—
|
|
|
4,096
|
|
|
14,532
|
|
|
730
|
|
|
4,234
|
|
|
15,124
|
|
|
851
|
|
|
2015
|
|
2016
|
|
123 Westmead Road
|
Suwanee, GA
|
|
—
|
|
|
1,560
|
|
|
11,538
|
|
|
1,665
|
|
|
1,560
|
|
|
13,203
|
|
|
3,281
|
|
|
2012
|
|
2000
|
|
4315 Johns Creek Parkway
|
Sway, UK
|
|
—
|
|
|
4,145
|
|
|
15,508
|
|
|
1,113
|
|
|
4,334
|
|
|
16,432
|
|
|
3,004
|
|
|
2014
|
|
2008
|
|
Sway Place
|
Swift Current, SK
|
|
1,871
|
|
|
492
|
|
|
10,119
|
|
|
455
|
|
|
505
|
|
|
10,561
|
|
|
2,324
|
|
|
2013
|
|
2001
|
|
301 Macoun Drive
|
Tacoma, WA
|
|
17,640
|
|
|
2,400
|
|
|
35,053
|
|
|
1,276
|
|
|
2,493
|
|
|
36,236
|
|
|
8,057
|
|
|
2011
|
|
2008
|
|
7290 Rosemount Circle
|
Tacoma, WA
|
|
—
|
|
|
1,535
|
|
|
6,068
|
|
|
67
|
|
|
1,537
|
|
|
6,133
|
|
|
1,095
|
|
|
2015
|
|
2012
|
|
7290 Rosemount Circle
|
Tacoma, WA
|
|
—
|
|
|
4,170
|
|
|
73,377
|
|
|
12,917
|
|
|
4,170
|
|
|
86,294
|
|
|
11,797
|
|
|
2016
|
|
1987
|
|
8201 6th Avenue
|
Tampa, FL
|
|
69,330
|
|
|
4,910
|
|
|
114,148
|
|
|
5,229
|
|
|
4,996
|
|
|
119,291
|
|
|
20,181
|
|
|
2015
|
|
2001
|
|
12951 W Linebaugh Avenue
|
Tewksbury, MA
|
|
—
|
|
|
2,350
|
|
|
24,118
|
|
|
2,172
|
|
|
2,350
|
|
|
26,290
|
|
|
3,205
|
|
|
2016
|
|
2006
|
|
2000 Emerald Court
|
The Woodlands, TX
|
|
—
|
|
|
480
|
|
|
12,379
|
|
|
679
|
|
|
480
|
|
|
13,058
|
|
|
3,238
|
|
|
2011
|
|
1999
|
|
7950 Bay Branch Dr
|
Toledo, OH
|
|
—
|
|
|
2,040
|
|
|
47,129
|
|
|
3,722
|
|
|
2,144
|
|
|
50,747
|
|
|
15,040
|
|
|
2010
|
|
1985
|
|
3501 Executive Parkway
|
Toms River, NJ
|
|
—
|
|
|
1,610
|
|
|
34,627
|
|
|
1,077
|
|
|
1,681
|
|
|
35,633
|
|
|
7,529
|
|
|
2010
|
|
2005
|
|
1587 Old Freehold Rd
|
Toronto, ON
|
|
17,086
|
|
|
2,927
|
|
|
20,713
|
|
|
1,635
|
|
|
2,997
|
|
|
22,278
|
|
|
3,323
|
|
|
2015
|
|
1900
|
|
54 Foxbar Road
|
(Dollars in thousands)
|
|
|
|||||||||||||||||||||||||
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Seniors Housing Operating:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Toronto, ON
|
|
8,268
|
|
|
5,082
|
|
|
25,493
|
|
|
1,375
|
|
|
5,178
|
|
|
26,772
|
|
|
5,294
|
|
|
2015
|
|
1988
|
|
645 Castlefield Avenue
|
Toronto, ON
|
|
12,478
|
|
|
2,008
|
|
|
19,620
|
|
|
—
|
|
|
2,008
|
|
|
19,620
|
|
|
3,033
|
|
|
2015
|
|
1999
|
|
4251 Dundas Street West
|
Toronto, ON
|
|
36,296
|
|
|
5,132
|
|
|
41,657
|
|
|
2,931
|
|
|
5,209
|
|
|
44,511
|
|
|
10,383
|
|
|
2015
|
|
1964
|
|
10 William Morgan Drive
|
Toronto, ON
|
|
4,268
|
|
|
2,480
|
|
|
7,571
|
|
|
492
|
|
|
2,527
|
|
|
8,016
|
|
|
1,724
|
|
|
2015
|
|
1971
|
|
123 Spadina Road
|
Toronto, ON
|
|
1,217
|
|
|
1,079
|
|
|
5,364
|
|
|
269
|
|
|
1,095
|
|
|
5,617
|
|
|
1,246
|
|
|
2013
|
|
1982
|
|
25 Centennial Park Road
|
Toronto, ON
|
|
7,531
|
|
|
2,513
|
|
|
19,695
|
|
|
969
|
|
|
2,583
|
|
|
20,594
|
|
|
3,845
|
|
|
2013
|
|
2002
|
|
305 Balliol Street
|
Toronto, ON
|
|
17,407
|
|
|
3,400
|
|
|
32,757
|
|
|
1,488
|
|
|
3,456
|
|
|
34,189
|
|
|
7,774
|
|
|
2013
|
|
1973
|
|
1055 and 1057 Don Mills Road
|
Toronto, ON
|
|
751
|
|
|
1,361
|
|
|
2,915
|
|
|
303
|
|
|
1,414
|
|
|
3,165
|
|
|
1,155
|
|
|
2013
|
|
1985
|
|
3705 Bathurst Street
|
Toronto, ON
|
|
5,685
|
|
|
1,447
|
|
|
3,918
|
|
|
358
|
|
|
1,494
|
|
|
4,229
|
|
|
1,147
|
|
|
2013
|
|
1987
|
|
1340 York Mills Road
|
Toronto, ON
|
|
30,679
|
|
|
5,304
|
|
|
53,488
|
|
|
2,130
|
|
|
5,387
|
|
|
55,535
|
|
|
15,694
|
|
|
2013
|
|
1988
|
|
8 The Donway East
|
Torrance, CA
|
|
—
|
|
|
3,497
|
|
|
73,138
|
|
|
16
|
|
|
3,497
|
|
|
73,154
|
|
|
4,639
|
|
|
2016
|
|
2016
|
|
25525 Hawthorne Boulevard
|
Tulsa, OK
|
|
—
|
|
|
1,330
|
|
|
21,285
|
|
|
4,417
|
|
|
1,362
|
|
|
25,670
|
|
|
7,149
|
|
|
2010
|
|
1986
|
|
8887 South Lewis Ave
|
Tulsa, OK
|
|
—
|
|
|
1,500
|
|
|
20,861
|
|
|
3,934
|
|
|
1,581
|
|
|
24,714
|
|
|
7,228
|
|
|
2010
|
|
1984
|
|
9524 East 71st St
|
Tustin, CA
|
|
—
|
|
|
840
|
|
|
15,299
|
|
|
744
|
|
|
840
|
|
|
16,043
|
|
|
3,784
|
|
|
2011
|
|
1965
|
|
240 East 3rd St
|
Upland, CA
|
|
—
|
|
|
3,160
|
|
|
42,596
|
|
|
55
|
|
|
3,160
|
|
|
42,651
|
|
|
5,414
|
|
|
2015
|
|
2014
|
|
2419 North Euclid Avenue
|
Upper Providence, PA
|
|
—
|
|
|
1,900
|
|
|
28,195
|
|
|
37
|
|
|
1,900
|
|
|
28,232
|
|
|
2,719
|
|
|
2013
|
|
2015
|
|
1133 Black Rock Road
|
Upper St Claire, PA
|
|
—
|
|
|
1,102
|
|
|
13,455
|
|
|
1,396
|
|
|
1,125
|
|
|
14,828
|
|
|
3,714
|
|
|
2013
|
|
2005
|
|
500 Village Drive
|
Vacaville, CA
|
|
—
|
|
|
900
|
|
|
17,100
|
|
|
1,756
|
|
|
907
|
|
|
18,849
|
|
|
7,022
|
|
|
2005
|
|
1987
|
|
799 Yellowstone Dr.
|
Vallejo, CA
|
|
—
|
|
|
4,000
|
|
|
18,000
|
|
|
2,476
|
|
|
4,030
|
|
|
20,446
|
|
|
7,573
|
|
|
2005
|
|
1989
|
|
350 Locust Dr.
|
Vallejo, CA
|
|
—
|
|
|
2,330
|
|
|
15,407
|
|
|
390
|
|
|
2,330
|
|
|
15,797
|
|
|
4,505
|
|
|
2010
|
|
1990
|
|
2261 Tuolumne
|
Vancouver, WA
|
|
—
|
|
|
1,820
|
|
|
19,042
|
|
|
438
|
|
|
1,821
|
|
|
19,479
|
|
|
5,299
|
|
|
2010
|
|
2006
|
|
10011 NE 118th Ave
|
Vancouver, BC
|
|
—
|
|
|
7,282
|
|
|
6,572
|
|
|
—
|
|
|
7,282
|
|
|
6,572
|
|
|
5,332
|
|
|
2015
|
|
1974
|
|
2803 West 41st Avenue
|
Vankleek Hill, ON
|
|
750
|
|
|
389
|
|
|
2,960
|
|
|
293
|
|
|
400
|
|
|
3,242
|
|
|
820
|
|
|
2013
|
|
1987
|
|
48 Wall Street
|
Vaudreuil, QC
|
|
7,822
|
|
|
1,852
|
|
|
14,214
|
|
|
546
|
|
|
1,829
|
|
|
14,783
|
|
|
2,234
|
|
|
2015
|
|
1975
|
|
333 rue Querbes
|
Venice, FL
|
|
64,425
|
|
|
6,820
|
|
|
100,501
|
|
|
4,362
|
|
|
6,892
|
|
|
104,791
|
|
|
19,357
|
|
|
2015
|
|
2002
|
|
1000 Aston Gardens Drive
|
Vero Beach, FL
|
|
—
|
|
|
2,930
|
|
|
40,070
|
|
|
25,658
|
|
|
2,930
|
|
|
65,728
|
|
|
19,456
|
|
|
2007
|
|
2003
|
|
7955 16th Manor
|
Victoria, BC
|
|
6,833
|
|
|
2,856
|
|
|
18,038
|
|
|
565
|
|
|
2,898
|
|
|
18,561
|
|
|
4,657
|
|
|
2013
|
|
1974
|
|
3000 Shelbourne Street
|
Victoria, BC
|
|
6,299
|
|
|
3,681
|
|
|
15,774
|
|
|
555
|
|
|
3,736
|
|
|
16,274
|
|
|
4,244
|
|
|
2013
|
|
1988
|
|
3051 Shelbourne Street
|
Victoria, BC
|
|
7,064
|
|
|
2,476
|
|
|
15,379
|
|
|
1,020
|
|
|
2,516
|
|
|
16,359
|
|
|
2,115
|
|
|
2015
|
|
1990
|
|
3965 Shelbourne Street
|
Virginia Water, UK
|
|
—
|
|
|
7,106
|
|
|
29,937
|
|
|
5,937
|
|
|
5,629
|
|
|
37,351
|
|
|
8,494
|
|
|
2012
|
|
2002
|
|
Christ Church Road
|
Voorhees, NJ
|
|
—
|
|
|
3,700
|
|
|
24,312
|
|
|
1,821
|
|
|
3,854
|
|
|
25,979
|
|
|
4,025
|
|
|
2012
|
|
2013
|
|
311 Route 73
|
Wall, NJ
|
|
—
|
|
|
1,650
|
|
|
25,350
|
|
|
2,679
|
|
|
1,692
|
|
|
27,987
|
|
|
5,356
|
|
|
2011
|
|
2003
|
|
2021 Highway 35
|
Walnut Creek, CA
|
|
—
|
|
|
3,700
|
|
|
12,467
|
|
|
2,280
|
|
|
3,808
|
|
|
14,639
|
|
|
4,072
|
|
|
2013
|
|
1998
|
|
2175 Ygnacio Valley Road
|
Walnut Creek, CA
|
|
—
|
|
|
10,320
|
|
|
100,890
|
|
|
15,190
|
|
|
10,320
|
|
|
116,080
|
|
|
15,633
|
|
|
2016
|
|
1988
|
|
1580 Geary Road
|
Waltham, MA
|
|
—
|
|
|
2,462
|
|
|
40,062
|
|
|
1,457
|
|
|
2,551
|
|
|
41,430
|
|
|
6,700
|
|
|
2015
|
|
2000
|
|
126 Smith Street
|
Washington, DC
|
|
30,162
|
|
|
4,000
|
|
|
69,154
|
|
|
3,157
|
|
|
4,004
|
|
|
72,307
|
|
|
14,549
|
|
|
2013
|
|
2004
|
|
5111 Connecticut Avenue NW
|
Watchung, NJ
|
|
—
|
|
|
1,920
|
|
|
24,880
|
|
|
1,348
|
|
|
2,048
|
|
|
26,100
|
|
|
5,131
|
|
|
2011
|
|
2000
|
|
680 Mountain Boulevard
|
Wayland, MA
|
|
—
|
|
|
1,207
|
|
|
27,462
|
|
|
2,157
|
|
|
1,334
|
|
|
29,492
|
|
|
6,527
|
|
|
2013
|
|
1997
|
|
285 Commonwealth Road
|
Webster Groves, MO
|
|
—
|
|
|
1,790
|
|
|
15,425
|
|
|
2,391
|
|
|
1,793
|
|
|
17,813
|
|
|
4,543
|
|
|
2011
|
|
2012
|
|
45 E Lockwood Avenue
|
Welland, ON
|
|
6,041
|
|
|
983
|
|
|
7,530
|
|
|
94
|
|
|
969
|
|
|
7,638
|
|
|
1,060
|
|
|
2015
|
|
2006
|
|
110 First Street
|
Wellesley, MA
|
|
—
|
|
|
4,690
|
|
|
77,462
|
|
|
219
|
|
|
4,690
|
|
|
77,681
|
|
|
11,776
|
|
|
2015
|
|
2012
|
|
23 & 27 Washington Street
|
West Babylon, NY
|
|
—
|
|
|
3,960
|
|
|
47,085
|
|
|
2,224
|
|
|
3,960
|
|
|
49,309
|
|
|
9,640
|
|
|
2013
|
|
2003
|
|
580 Montauk Highway
|
West Bloomfield, MI
|
|
—
|
|
|
1,040
|
|
|
12,300
|
|
|
835
|
|
|
1,094
|
|
|
13,081
|
|
|
2,977
|
|
|
2013
|
|
2000
|
|
7005 Pontiac Trail
|
Welltower Inc.
|
|
|
||||||||||||||||||||||||||||||||
Schedule III
|
|
|
||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation
|
|
|
||||||||||||||||||||||||||||||||
December 31, 2018
|
|
|
||||||||||||||||||||||||||||||||
(Dollars in thousands)
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
||||||||||||||
Triple-net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Abilene, TX
|
|
$
|
—
|
|
|
$
|
950
|
|
|
$
|
20,987
|
|
|
$
|
11,660
|
|
|
$
|
950
|
|
|
$
|
32,647
|
|
|
$
|
2,632
|
|
|
2014
|
|
1998
|
|
6565 Central Park Boulevard
|
Abilene, TX
|
|
—
|
|
|
990
|
|
|
8,187
|
|
|
1,089
|
|
|
990
|
|
|
9,276
|
|
|
1,000
|
|
|
2014
|
|
1985
|
|
1250 East N 10th Street
|
|||||||
Aboite Twp, IN
|
|
—
|
|
|
1,770
|
|
|
19,930
|
|
|
1,601
|
|
|
1,770
|
|
|
21,531
|
|
|
4,613
|
|
|
2010
|
|
2008
|
|
611 W County Line Rd South
|
|||||||
Adelphi, MD
|
|
—
|
|
|
1,429
|
|
|
4,312
|
|
|
—
|
|
|
1,429
|
|
|
4,312
|
|
|
56
|
|
|
2018
|
|
1967
|
|
1801 Metzerott Road
|
|||||||
Agawam, MA
|
|
—
|
|
|
880
|
|
|
16,112
|
|
|
2,134
|
|
|
880
|
|
|
18,246
|
|
|
8,048
|
|
|
2002
|
|
1993
|
|
1200 Suffield St.
|
|||||||
Akron, OH
|
|
—
|
|
|
633
|
|
|
3,003
|
|
|
—
|
|
|
633
|
|
|
3,003
|
|
|
37
|
|
|
2018
|
|
1999
|
|
171 North Cleveland Massillon Road
|
|||||||
Albertville, AL
|
|
—
|
|
|
170
|
|
|
6,203
|
|
|
353
|
|
|
176
|
|
|
6,550
|
|
|
1,796
|
|
|
2010
|
|
1999
|
|
151 Woodham Dr.
|
|||||||
Alexandria, VA
|
|
—
|
|
|
2,452
|
|
|
6,829
|
|
|
—
|
|
|
2,452
|
|
|
6,829
|
|
|
81
|
|
|
2018
|
|
1964
|
|
1510 Collingwood Road
|
|||||||
Allen Park, MI
|
|
—
|
|
|
1,767
|
|
|
5,027
|
|
|
—
|
|
|
1,767
|
|
|
5,027
|
|
|
60
|
|
|
2018
|
|
1960
|
|
9150 Allen Road
|
|||||||
Allentown, PA
|
|
—
|
|
|
494
|
|
|
11,849
|
|
|
—
|
|
|
494
|
|
|
11,849
|
|
|
138
|
|
|
2018
|
|
1995
|
|
5151 Hamilton Boulevard
|
|||||||
Allentown, PA
|
|
—
|
|
|
1,491
|
|
|
4,823
|
|
|
—
|
|
|
1,491
|
|
|
4,823
|
|
|
59
|
|
|
2018
|
|
1988
|
|
1265 Cedar Crest Boulevard
|
|||||||
Ames, IA
|
|
—
|
|
|
330
|
|
|
8,870
|
|
|
—
|
|
|
330
|
|
|
8,870
|
|
|
2,075
|
|
|
2010
|
|
1999
|
|
1325 Coconino Rd.
|
|||||||
Ankeny, IA
|
|
—
|
|
|
1,129
|
|
|
10,270
|
|
|
—
|
|
|
1,129
|
|
|
10,270
|
|
|
813
|
|
|
2016
|
|
2012
|
|
1275 SW State Street
|
|||||||
Ann Arbor, MI
|
|
—
|
|
|
2,172
|
|
|
11,127
|
|
|
—
|
|
|
2,172
|
|
|
11,127
|
|
|
140
|
|
|
2018
|
|
1997
|
|
4701 East Huron River Drive
|
|||||||
Annandale, VA
|
|
—
|
|
|
1,687
|
|
|
18,980
|
|
|
—
|
|
|
1,687
|
|
|
18,980
|
|
|
216
|
|
|
2018
|
|
2002
|
|
7104 Braddock Road
|
|||||||
Arlington, TX
|
|
—
|
|
|
1,660
|
|
|
37,395
|
|
|
1,825
|
|
|
1,660
|
|
|
39,220
|
|
|
9,668
|
|
|
2012
|
|
2000
|
|
1250 West Pioneer Parkway
|
|||||||
Arlington, VA
|
|
—
|
|
|
4,016
|
|
|
8,805
|
|
|
—
|
|
|
4,016
|
|
|
8,805
|
|
|
102
|
|
|
2018
|
|
1976
|
|
550 South Carlin Southprings Road
|
|||||||
Asheboro, NC
|
|
—
|
|
|
290
|
|
|
5,032
|
|
|
165
|
|
|
290
|
|
|
5,197
|
|
|
2,142
|
|
|
2003
|
|
1998
|
|
514 Vision Dr.
|
|||||||
Asheville, NC
|
|
—
|
|
|
204
|
|
|
3,489
|
|
|
—
|
|
|
204
|
|
|
3,489
|
|
|
1,858
|
|
|
1999
|
|
1999
|
|
4 Walden Ridge Dr.
|
|||||||
Asheville, NC
|
|
—
|
|
|
280
|
|
|
1,955
|
|
|
351
|
|
|
280
|
|
|
2,306
|
|
|
1,034
|
|
|
2003
|
|
1992
|
|
308 Overlook Rd.
|
|||||||
Atchison, KS
|
|
—
|
|
|
140
|
|
|
5,610
|
|
|
23
|
|
|
140
|
|
|
5,633
|
|
|
475
|
|
|
2015
|
|
2001
|
|
1301 N 4th St.
|
|||||||
Atlanta, GA
|
|
—
|
|
|
2,058
|
|
|
14,914
|
|
|
1,214
|
|
|
2,080
|
|
|
16,106
|
|
|
11,826
|
|
|
1997
|
|
1999
|
|
1460 S Johnson Ferry Rd.
|
|||||||
Aurora, OH
|
|
—
|
|
|
1,760
|
|
|
14,148
|
|
|
106
|
|
|
1,760
|
|
|
14,254
|
|
|
3,369
|
|
|
2011
|
|
2002
|
|
505 S. Chillicothe Rd
|
|||||||
Aurora, CO
|
|
—
|
|
|
2,440
|
|
|
28,172
|
|
|
—
|
|
|
2,440
|
|
|
28,172
|
|
|
11,394
|
|
|
2006
|
|
2007
|
|
14211 E. Evans Ave.
|
|||||||
Austin, TX
|
|
—
|
|
|
880
|
|
|
9,520
|
|
|
1,299
|
|
|
885
|
|
|
10,814
|
|
|
5,784
|
|
|
1999
|
|
1998
|
|
12429 Scofield Farms Dr.
|
|||||||
Austin, TX
|
|
—
|
|
|
1,691
|
|
|
5,006
|
|
|
—
|
|
|
1,691
|
|
|
5,006
|
|
|
78
|
|
|
2018
|
|
2000
|
|
11630 Four Iron Drive
|
|||||||
Avon, IN
|
|
—
|
|
|
1,830
|
|
|
14,470
|
|
|
—
|
|
|
1,830
|
|
|
14,470
|
|
|
3,534
|
|
|
2010
|
|
2004
|
|
182 S Country RD. 550E
|
|||||||
Avon, IN
|
|
—
|
|
|
900
|
|
|
19,444
|
|
|
—
|
|
|
900
|
|
|
19,444
|
|
|
2,329
|
|
|
2014
|
|
2013
|
|
10307 E. CR 100 N
|
|||||||
Avon, CT
|
|
—
|
|
|
2,132
|
|
|
7,627
|
|
|
—
|
|
|
2,132
|
|
|
7,627
|
|
|
109
|
|
|
2018
|
|
2000
|
|
100 Fisher Drive
|
|||||||
Avon Lake, OH
|
|
—
|
|
|
790
|
|
|
10,421
|
|
|
5,822
|
|
|
790
|
|
|
16,243
|
|
|
3,136
|
|
|
2011
|
|
2001
|
|
345 Lear Rd.
|
|||||||
Baldwin City, KS
|
|
—
|
|
|
190
|
|
|
4,810
|
|
|
55
|
|
|
190
|
|
|
4,865
|
|
|
420
|
|
|
2015
|
|
2000
|
|
321 Crimson Ave
|
|||||||
Baltimore, MD
|
|
—
|
|
|
4,306
|
|
|
4,305
|
|
|
—
|
|
|
4,306
|
|
|
4,305
|
|
|
55
|
|
|
2018
|
|
1978
|
|
6600 Ridge Road
|
|||||||
Baltimore, MD
|
|
—
|
|
|
3,069
|
|
|
3,150
|
|
|
—
|
|
|
3,069
|
|
|
3,150
|
|
|
43
|
|
|
2018
|
|
1996
|
|
4669 Falls Road
|
|||||||
Barberton, OH
|
|
—
|
|
|
1,307
|
|
|
9,313
|
|
|
—
|
|
|
1,307
|
|
|
9,313
|
|
|
108
|
|
|
2018
|
|
1979
|
|
85 Third Street
|
|||||||
Bartlesville, OK
|
|
—
|
|
|
100
|
|
|
1,380
|
|
|
—
|
|
|
100
|
|
|
1,380
|
|
|
828
|
|
|
1996
|
|
1995
|
|
5420 S.E. Adams Blvd.
|
|||||||
Battle Creek, MI
|
|
—
|
|
|
857
|
|
|
1,822
|
|
|
—
|
|
|
857
|
|
|
1,822
|
|
|
30
|
|
|
2018
|
|
1965
|
|
200 Roosevelt Avenue East
|
|||||||
Bay City, MI
|
|
—
|
|
|
633
|
|
|
2,620
|
|
|
—
|
|
|
633
|
|
|
2,620
|
|
|
35
|
|
|
2018
|
|
1968
|
|
800 Mulholland Street
|
|||||||
Bedford, PA
|
|
—
|
|
|
637
|
|
|
4,434
|
|
|
—
|
|
|
637
|
|
|
4,434
|
|
|
61
|
|
|
2018
|
|
1965
|
|
136 Donahoe Manor Road
|
|||||||
Bellingham, WA
|
|
—
|
|
|
1,500
|
|
|
19,861
|
|
|
396
|
|
|
1,507
|
|
|
20,250
|
|
|
5,450
|
|
|
2010
|
|
1996
|
|
4415 Columbine Dr.
|
|||||||
Benbrook, TX
|
|
—
|
|
|
1,550
|
|
|
13,553
|
|
|
2,657
|
|
|
1,550
|
|
|
16,210
|
|
|
3,016
|
|
|
2011
|
|
1984
|
|
4242 Bryant Irvin Road
|
(Dollars in thousands)
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Triple-net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Bethel Park, PA
|
|
—
|
|
|
1,700
|
|
|
16,007
|
|
|
—
|
|
|
1,700
|
|
|
16,007
|
|
|
4,274
|
|
|
2007
|
|
2009
|
|
5785 Baptist Road
|
Bethel Park, PA
|
|
—
|
|
|
1,008
|
|
|
6,742
|
|
|
—
|
|
|
1,008
|
|
|
6,742
|
|
|
83
|
|
|
2018
|
|
1986
|
|
60 Highland Road
|
Bethesda, MD
|
|
—
|
|
|
2,218
|
|
|
6,871
|
|
|
—
|
|
|
2,218
|
|
|
6,871
|
|
|
78
|
|
|
2018
|
|
1974
|
|
6530 Democracy Boulevard
|
Bethlehem, PA
|
|
—
|
|
|
1,191
|
|
|
16,892
|
|
|
—
|
|
|
1,191
|
|
|
16,892
|
|
|
187
|
|
|
2018
|
|
1979
|
|
2021 Westgate Drive
|
Bethlehem, PA
|
|
—
|
|
|
1,143
|
|
|
13,592
|
|
|
—
|
|
|
1,143
|
|
|
13,592
|
|
|
152
|
|
|
2018
|
|
1982
|
|
2029 Westgate Drive
|
Beverly Hills, CA
|
|
—
|
|
|
6,000
|
|
|
13,385
|
|
|
—
|
|
|
6,000
|
|
|
13,385
|
|
|
1,420
|
|
|
2014
|
|
2000
|
|
220 N Clark Drive
|
Bexleyheath, UK
|
|
—
|
|
|
3,750
|
|
|
10,807
|
|
|
493
|
|
|
3,877
|
|
|
11,173
|
|
|
1,210
|
|
|
2014
|
|
1996
|
|
35 West Street
|
Bingham Farms, MI
|
|
—
|
|
|
781
|
|
|
15,676
|
|
|
—
|
|
|
781
|
|
|
15,676
|
|
|
180
|
|
|
2018
|
|
1999
|
|
24005 West 13 Mile Road
|
Birmingham, UK
|
|
—
|
|
|
1,647
|
|
|
14,853
|
|
|
558
|
|
|
1,703
|
|
|
15,355
|
|
|
1,491
|
|
|
2015
|
|
2010
|
|
Clinton Street, Winson Green
|
Birmingham, UK
|
|
—
|
|
|
1,591
|
|
|
19,092
|
|
|
700
|
|
|
1,645
|
|
|
19,738
|
|
|
1,888
|
|
|
2015
|
|
2010
|
|
Braymoor Road, Tile Cross
|
Birmingham, UK
|
|
—
|
|
|
1,462
|
|
|
9,056
|
|
|
355
|
|
|
1,511
|
|
|
9,362
|
|
|
923
|
|
|
2015
|
|
2010
|
|
Clinton Street, Winson Green
|
Birmingham, UK
|
|
—
|
|
|
1,184
|
|
|
10,085
|
|
|
381
|
|
|
1,224
|
|
|
10,426
|
|
|
1,005
|
|
|
2015
|
|
1997
|
|
122 Tile Cross Road, Garretts Green
|
Bloomington, IN
|
|
—
|
|
|
670
|
|
|
17,423
|
|
|
—
|
|
|
670
|
|
|
17,423
|
|
|
1,651
|
|
|
2015
|
|
2015
|
|
363 S. Fieldstone Boulevard
|
Boardman, OH
|
|
—
|
|
|
1,200
|
|
|
12,800
|
|
|
—
|
|
|
1,200
|
|
|
12,800
|
|
|
4,308
|
|
|
2008
|
|
2008
|
|
8049 South Ave.
|
Boca Raton, FL
|
|
—
|
|
|
2,200
|
|
|
4,976
|
|
|
—
|
|
|
2,200
|
|
|
4,976
|
|
|
74
|
|
|
2018
|
|
1994
|
|
7225 Boca Del Mar Drive
|
Boca Raton, FL
|
|
—
|
|
|
2,826
|
|
|
4,063
|
|
|
—
|
|
|
2,826
|
|
|
4,063
|
|
|
54
|
|
|
2018
|
|
1984
|
|
375 Northwest 51st Street
|
Boulder, CO
|
|
—
|
|
|
3,601
|
|
|
21,371
|
|
|
—
|
|
|
3,601
|
|
|
21,371
|
|
|
263
|
|
|
2018
|
|
1990
|
|
2800 Palo Parkway
|
Bowling Green, KY
|
|
—
|
|
|
3,800
|
|
|
26,700
|
|
|
149
|
|
|
3,800
|
|
|
26,849
|
|
|
7,094
|
|
|
2008
|
|
1992
|
|
1300 Campbell Lane
|
Boynton Beach, FL
|
|
—
|
|
|
2,138
|
|
|
10,204
|
|
|
—
|
|
|
2,138
|
|
|
10,204
|
|
|
128
|
|
|
2018
|
|
1991
|
|
3600 Old Boynton Road
|
Boynton Beach, FL
|
|
—
|
|
|
2,804
|
|
|
14,226
|
|
|
—
|
|
|
2,804
|
|
|
14,226
|
|
|
163
|
|
|
2018
|
|
1984
|
|
3001 South Congress Avenue
|
Bracknell, UK
|
|
—
|
|
|
4,081
|
|
|
11,470
|
|
|
—
|
|
|
4,081
|
|
|
11,470
|
|
|
405
|
|
|
2014
|
|
2017
|
|
Bagshot Road
|
Bradenton, FL
|
|
—
|
|
|
252
|
|
|
3,298
|
|
|
—
|
|
|
252
|
|
|
3,298
|
|
|
1,991
|
|
|
1996
|
|
1995
|
|
6101 Pointe W. Blvd.
|
Bradenton, FL
|
|
—
|
|
|
480
|
|
|
9,953
|
|
|
—
|
|
|
480
|
|
|
9,953
|
|
|
1,714
|
|
|
2012
|
|
2000
|
|
2800 60th Avenue West
|
Braintree, MA
|
|
—
|
|
|
170
|
|
|
7,157
|
|
|
1,290
|
|
|
170
|
|
|
8,447
|
|
|
8,433
|
|
|
1997
|
|
1968
|
|
1102 Washington St.
|
Braintree, UK
|
|
—
|
|
|
—
|
|
|
13,296
|
|
|
450
|
|
|
—
|
|
|
13,746
|
|
|
1,570
|
|
|
2014
|
|
2009
|
|
Meadow Park Tortoiseshell Way
|
Brandon, MS
|
|
—
|
|
|
1,220
|
|
|
10,241
|
|
|
8
|
|
|
1,220
|
|
|
10,249
|
|
|
2,291
|
|
|
2010
|
|
1999
|
|
140 Castlewoods Blvd
|
Brecksville, OH
|
|
—
|
|
|
990
|
|
|
19,353
|
|
|
—
|
|
|
990
|
|
|
19,353
|
|
|
2,309
|
|
|
2014
|
|
2011
|
|
8757 Brecksville Road
|
Brentwood, UK
|
|
36,589
|
|
|
8,537
|
|
|
45,869
|
|
|
1,998
|
|
|
8,826
|
|
|
47,578
|
|
|
2,534
|
|
|
2016
|
|
2013
|
|
London Road
|
Brick, NJ
|
|
—
|
|
|
1,290
|
|
|
25,247
|
|
|
996
|
|
|
1,290
|
|
|
26,243
|
|
|
5,086
|
|
|
2011
|
|
2000
|
|
458 Jack Martin Blvd.
|
Bridgewater, NJ
|
|
—
|
|
|
1,800
|
|
|
31,810
|
|
|
1,397
|
|
|
1,800
|
|
|
33,207
|
|
|
6,365
|
|
|
2011
|
|
2001
|
|
680 US-202/206 North
|
Brookfield, WI
|
|
—
|
|
|
1,300
|
|
|
12,830
|
|
|
—
|
|
|
1,300
|
|
|
12,830
|
|
|
1,779
|
|
|
2012
|
|
2013
|
|
1105 Davidson Road
|
Brooks, AB
|
|
1,757
|
|
|
376
|
|
|
4,951
|
|
|
80
|
|
|
381
|
|
|
5,026
|
|
|
586
|
|
|
2014
|
|
2000
|
|
951 Cassils Road West
|
Bucyrus, OH
|
|
—
|
|
|
1,119
|
|
|
2,612
|
|
|
—
|
|
|
1,119
|
|
|
2,612
|
|
|
37
|
|
|
2018
|
|
1976
|
|
1170 West Mansfield Street
|
Burleson, TX
|
|
—
|
|
|
670
|
|
|
13,985
|
|
|
2,105
|
|
|
670
|
|
|
16,090
|
|
|
3,142
|
|
|
2011
|
|
1988
|
|
300 Huguley Boulevard
|
Burlington, NC
|
|
—
|
|
|
280
|
|
|
4,297
|
|
|
707
|
|
|
280
|
|
|
5,004
|
|
|
2,037
|
|
|
2003
|
|
2000
|
|
3619 S. Mebane St.
|
Burlington, NC
|
|
—
|
|
|
460
|
|
|
5,467
|
|
|
—
|
|
|
460
|
|
|
5,467
|
|
|
2,271
|
|
|
2003
|
|
1997
|
|
3615 S. Mebane St.
|
Burlington, NJ
|
|
—
|
|
|
1,700
|
|
|
12,554
|
|
|
501
|
|
|
1,700
|
|
|
13,055
|
|
|
3,231
|
|
|
2011
|
|
1965
|
|
115 Sunset Road
|
Burlington, NJ
|
|
—
|
|
|
1,170
|
|
|
19,205
|
|
|
172
|
|
|
1,170
|
|
|
19,377
|
|
|
4,109
|
|
|
2011
|
|
1994
|
|
2305 Rancocas Road
|
Burnaby, BC
|
|
7,326
|
|
|
7,623
|
|
|
13,844
|
|
|
320
|
|
|
7,736
|
|
|
14,051
|
|
|
1,664
|
|
|
2014
|
|
2006
|
|
7195 Canada Way
|
Calgary, AB
|
|
14,921
|
|
|
2,341
|
|
|
42,768
|
|
|
726
|
|
|
2,376
|
|
|
43,459
|
|
|
4,882
|
|
|
2014
|
|
1971
|
|
1729-90th Avenue SW
|
Calgary, AB
|
|
24,745
|
|
|
4,569
|
|
|
70,199
|
|
|
1,109
|
|
|
4,636
|
|
|
71,241
|
|
|
7,933
|
|
|
2014
|
|
2001
|
|
500 Midpark Way SE
|
Camberley, UK
|
|
—
|
|
|
9,974
|
|
|
39,168
|
|
|
—
|
|
|
9,974
|
|
|
39,168
|
|
|
1,574
|
|
|
2016
|
|
2017
|
|
Pembroke Broadway
|
Camp Hill, PA
|
|
—
|
|
|
517
|
|
|
3,597
|
|
|
—
|
|
|
517
|
|
|
3,597
|
|
|
43
|
|
|
2018
|
|
1970
|
|
1700 Market Street
|
Canonsburg, PA
|
|
—
|
|
|
911
|
|
|
4,830
|
|
|
—
|
|
|
911
|
|
|
4,830
|
|
|
63
|
|
|
2018
|
|
1986
|
|
113 West McMurray Road
|
Canton, OH
|
|
—
|
|
|
300
|
|
|
2,098
|
|
|
—
|
|
|
300
|
|
|
2,098
|
|
|
1,115
|
|
|
1998
|
|
1998
|
|
1119 Perry Dr., N.W.
|
(Dollars in thousands)
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Triple-net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Canton, MI
|
|
—
|
|
|
1,399
|
|
|
16,971
|
|
|
—
|
|
|
1,399
|
|
|
16,971
|
|
|
195
|
|
|
2018
|
|
2005
|
|
7025 Lilley Road
|
Cape Coral, FL
|
|
—
|
|
|
530
|
|
|
3,281
|
|
|
—
|
|
|
530
|
|
|
3,281
|
|
|
1,473
|
|
|
2002
|
|
2000
|
|
911 Santa Barbara Blvd.
|
Cape Coral, FL
|
|
8,337
|
|
|
760
|
|
|
18,868
|
|
|
—
|
|
|
760
|
|
|
18,868
|
|
|
3,282
|
|
|
2012
|
|
2009
|
|
831 Santa Barbara Boulevard
|
Cape May Court House, NJ
|
|
—
|
|
|
1,440
|
|
|
17,002
|
|
|
1,775
|
|
|
1,440
|
|
|
18,777
|
|
|
2,265
|
|
|
2014
|
|
1990
|
|
144 Magnolia Drive
|
Carlisle, PA
|
|
—
|
|
|
978
|
|
|
8,207
|
|
|
—
|
|
|
978
|
|
|
8,207
|
|
|
100
|
|
|
2018
|
|
1987
|
|
940 Walnut Bottom Road
|
Carmel, IN
|
|
—
|
|
|
1,700
|
|
|
19,491
|
|
|
1
|
|
|
1,700
|
|
|
19,492
|
|
|
1,971
|
|
|
2015
|
|
2015
|
|
12315 Pennsylvania Street
|
Carmel, IN
|
|
—
|
|
|
1,583
|
|
|
6,071
|
|
|
—
|
|
|
1,583
|
|
|
6,071
|
|
|
80
|
|
|
2018
|
|
1985
|
|
12999 North Pennsylvania Street
|
Carmel, IN
|
|
—
|
|
|
—
|
|
|
2,296
|
|
|
—
|
|
|
—
|
|
|
2,296
|
|
|
25
|
|
|
2018
|
|
1985
|
|
12999 North Pennsylvania Street
|
Carrollton, TX
|
|
—
|
|
|
2,010
|
|
|
19,549
|
|
|
—
|
|
|
2,010
|
|
|
19,549
|
|
|
1,194
|
|
|
2014
|
|
2016
|
|
2645 East Trinity Mills Road
|
Cary, NC
|
|
—
|
|
|
1,500
|
|
|
4,350
|
|
|
986
|
|
|
1,500
|
|
|
5,336
|
|
|
2,698
|
|
|
1998
|
|
1996
|
|
111 MacArthur
|
Castleton, IN
|
|
—
|
|
|
920
|
|
|
15,137
|
|
|
—
|
|
|
920
|
|
|
15,137
|
|
|
1,885
|
|
|
2014
|
|
2013
|
|
8405 Clearvista Lake
|
Cedar Grove, NJ
|
|
—
|
|
|
2,850
|
|
|
27,737
|
|
|
20
|
|
|
2,850
|
|
|
27,757
|
|
|
5,981
|
|
|
2011
|
|
1970
|
|
536 Ridge Road
|
Cedar Rapids, IA
|
|
—
|
|
|
596
|
|
|
9,354
|
|
|
—
|
|
|
596
|
|
|
9,354
|
|
|
105
|
|
|
2018
|
|
1965
|
|
1940 1st Avenue Northeast
|
Centerville, OH
|
|
—
|
|
|
920
|
|
|
3,960
|
|
|
—
|
|
|
920
|
|
|
3,960
|
|
|
69
|
|
|
2018
|
|
1997
|
|
1001 E. Alex Bell Road
|
Centreville, MD
|
|
—
|
|
|
600
|
|
|
14,602
|
|
|
241
|
|
|
600
|
|
|
14,843
|
|
|
3,242
|
|
|
2011
|
|
1978
|
|
205 Armstrong Avenue
|
Chagrin Falls, OH
|
|
—
|
|
|
832
|
|
|
10,841
|
|
|
—
|
|
|
832
|
|
|
10,841
|
|
|
130
|
|
|
2018
|
|
1999
|
|
8100 East Washington Street
|
Chambersburg, PA
|
|
—
|
|
|
1,373
|
|
|
8,864
|
|
|
—
|
|
|
1,373
|
|
|
8,864
|
|
|
112
|
|
|
2018
|
|
1976
|
|
1070 Stouffer Avenue
|
Chapel Hill, NC
|
|
—
|
|
|
354
|
|
|
2,646
|
|
|
783
|
|
|
354
|
|
|
3,429
|
|
|
1,508
|
|
|
2002
|
|
1997
|
|
100 Lanark Rd.
|
Charleston, SC
|
|
—
|
|
|
1,333
|
|
|
5,556
|
|
|
—
|
|
|
1,333
|
|
|
5,556
|
|
|
67
|
|
|
2018
|
|
1982
|
|
1137 Sam Rittenberg Boulevard
|
Charleston, WV
|
|
—
|
|
|
440
|
|
|
17,575
|
|
|
306
|
|
|
440
|
|
|
17,881
|
|
|
3,680
|
|
|
2011
|
|
1998
|
|
1000 Association Drive, North Gate Business Park
|
Chatham, VA
|
|
—
|
|
|
320
|
|
|
14,039
|
|
|
—
|
|
|
320
|
|
|
14,039
|
|
|
1,814
|
|
|
2014
|
|
2009
|
|
100 Rorer Street
|
Cherry Hill, NJ
|
|
—
|
|
|
1,416
|
|
|
9,874
|
|
|
—
|
|
|
1,416
|
|
|
9,874
|
|
|
123
|
|
|
2018
|
|
1997
|
|
2700 Chapel Avenue West
|
Chester, VA
|
|
—
|
|
|
1,320
|
|
|
18,127
|
|
|
—
|
|
|
1,320
|
|
|
18,127
|
|
|
2,292
|
|
|
2014
|
|
2009
|
|
12001 Iron Bridge Road
|
Chevy Chase, MD
|
|
—
|
|
|
4,515
|
|
|
8,688
|
|
|
—
|
|
|
4,515
|
|
|
8,688
|
|
|
102
|
|
|
2018
|
|
1964
|
|
8700 Jones Mill Road
|
Chickasha, OK
|
|
—
|
|
|
85
|
|
|
1,395
|
|
|
—
|
|
|
85
|
|
|
1,395
|
|
|
831
|
|
|
1996
|
|
1996
|
|
801 Country Club Rd.
|
Chillicothe, OH
|
|
—
|
|
|
1,145
|
|
|
8,997
|
|
|
—
|
|
|
1,145
|
|
|
8,997
|
|
|
105
|
|
|
2018
|
|
1977
|
|
1058 Columbus Street
|
Cincinnati, OH
|
|
—
|
|
|
912
|
|
|
14,014
|
|
|
—
|
|
|
912
|
|
|
14,014
|
|
|
166
|
|
|
2018
|
|
2000
|
|
6870 Clough Pike
|
Citrus Heights, CA
|
|
—
|
|
|
5,207
|
|
|
31,725
|
|
|
—
|
|
|
5,207
|
|
|
31,725
|
|
|
354
|
|
|
2018
|
|
1988
|
|
7807 Upland Way
|
Claremore, OK
|
|
—
|
|
|
155
|
|
|
1,427
|
|
|
6,130
|
|
|
155
|
|
|
7,557
|
|
|
1,597
|
|
|
1996
|
|
1996
|
|
1605 N. Hwy. 88
|
Clarksville, TN
|
|
—
|
|
|
330
|
|
|
2,292
|
|
|
—
|
|
|
330
|
|
|
2,292
|
|
|
1,213
|
|
|
1998
|
|
1998
|
|
2183 Memorial Dr.
|
Clayton, NC
|
|
—
|
|
|
520
|
|
|
15,733
|
|
|
—
|
|
|
520
|
|
|
15,733
|
|
|
1,771
|
|
|
2014
|
|
2013
|
|
84 Johnson Estate Road
|
Cleburne, TX
|
|
—
|
|
|
520
|
|
|
5,369
|
|
|
—
|
|
|
520
|
|
|
5,369
|
|
|
1,669
|
|
|
2006
|
|
2007
|
|
402 S Colonial Drive
|
Clevedon, UK
|
|
—
|
|
|
2,838
|
|
|
16,927
|
|
|
667
|
|
|
2,933
|
|
|
17,499
|
|
|
1,998
|
|
|
2014
|
|
1994
|
|
18/19 Elton Road
|
Cobham, UK
|
|
—
|
|
|
9,808
|
|
|
24,991
|
|
|
1,176
|
|
|
10,139
|
|
|
25,836
|
|
|
3,657
|
|
|
2013
|
|
2013
|
|
Redhill Road
|
Colchester, CT
|
|
—
|
|
|
980
|
|
|
4,860
|
|
|
544
|
|
|
980
|
|
|
5,404
|
|
|
1,444
|
|
|
2011
|
|
1986
|
|
59 Harrington Court
|
Colorado Springs, CO
|
|
—
|
|
|
4,280
|
|
|
62,168
|
|
|
—
|
|
|
4,280
|
|
|
62,168
|
|
|
5,328
|
|
|
2015
|
|
2008
|
|
1605 Elm Creek View
|
Colorado Springs, CO
|
|
—
|
|
|
1,730
|
|
|
25,493
|
|
|
693
|
|
|
1,730
|
|
|
26,186
|
|
|
1,972
|
|
|
2016
|
|
2016
|
|
2818 Grand Vista Circle
|
Columbia, TN
|
|
—
|
|
|
341
|
|
|
2,295
|
|
|
—
|
|
|
341
|
|
|
2,295
|
|
|
1,218
|
|
|
1999
|
|
1999
|
|
5011 Trotwood Ave.
|
Columbia, SC
|
|
—
|
|
|
1,699
|
|
|
2,320
|
|
|
—
|
|
|
1,699
|
|
|
2,320
|
|
|
30
|
|
|
2018
|
|
1968
|
|
2601 Forest Drive
|
Columbia Heights, MN
|
|
—
|
|
|
825
|
|
|
14,175
|
|
|
163
|
|
|
825
|
|
|
14,338
|
|
|
2,738
|
|
|
2011
|
|
2009
|
|
3807 Hart Boulevard
|
Columbus, IN
|
|
—
|
|
|
610
|
|
|
3,190
|
|
|
—
|
|
|
610
|
|
|
3,190
|
|
|
764
|
|
|
2010
|
|
1998
|
|
2564 Foxpointe Dr.
|
Concord, NC
|
|
—
|
|
|
550
|
|
|
3,921
|
|
|
55
|
|
|
550
|
|
|
3,976
|
|
|
1,782
|
|
|
2003
|
|
1997
|
|
2452 Rock Hill Church Rd.
|
Concord, NH
|
|
—
|
|
|
1,760
|
|
|
43,179
|
|
|
634
|
|
|
1,760
|
|
|
43,813
|
|
|
9,027
|
|
|
2011
|
|
1994
|
|
239 Pleasant Street
|
Congleton, UK
|
|
—
|
|
|
2,036
|
|
|
5,120
|
|
|
241
|
|
|
2,104
|
|
|
5,293
|
|
|
575
|
|
|
2014
|
|
1994
|
|
Rood Hill
|
Conroe, TX
|
|
—
|
|
|
980
|
|
|
7,771
|
|
|
—
|
|
|
980
|
|
|
7,771
|
|
|
1,965
|
|
|
2009
|
|
2010
|
|
903 Longmire Road
|
(Dollars in thousands)
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Triple-net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Coppell, TX
|
|
—
|
|
|
1,550
|
|
|
8,386
|
|
|
100
|
|
|
1,550
|
|
|
8,486
|
|
|
1,347
|
|
|
2012
|
|
2013
|
|
1530 East Sandy Lake Road
|
Corby, UK
|
|
—
|
|
|
1,228
|
|
|
5,144
|
|
|
398
|
|
|
1,157
|
|
|
5,613
|
|
|
248
|
|
|
2017
|
|
1997
|
|
25 Rockingham Road
|
Coventry, UK
|
|
—
|
|
|
1,962
|
|
|
13,830
|
|
|
533
|
|
|
2,028
|
|
|
14,297
|
|
|
1,430
|
|
|
2015
|
|
2014
|
|
Banner Lane, Tile Hill
|
Crawfordsville, IN
|
|
—
|
|
|
720
|
|
|
17,239
|
|
|
1,426
|
|
|
720
|
|
|
18,665
|
|
|
2,245
|
|
|
2014
|
|
2013
|
|
517 Concord Road
|
Dallastown, PA
|
|
—
|
|
|
1,377
|
|
|
16,802
|
|
|
—
|
|
|
1,377
|
|
|
16,802
|
|
|
200
|
|
|
2018
|
|
1979
|
|
100 West Queen Street
|
Danville, VA
|
|
—
|
|
|
410
|
|
|
3,954
|
|
|
722
|
|
|
410
|
|
|
4,676
|
|
|
1,963
|
|
|
2003
|
|
1998
|
|
149 Executive Ct.
|
Danville, VA
|
|
—
|
|
|
240
|
|
|
8,436
|
|
|
—
|
|
|
240
|
|
|
8,436
|
|
|
1,087
|
|
|
2014
|
|
1996
|
|
508 Rison Street
|
Daphne, AL
|
|
—
|
|
|
2,880
|
|
|
8,670
|
|
|
384
|
|
|
2,880
|
|
|
9,054
|
|
|
1,625
|
|
|
2012
|
|
2001
|
|
27440 County Road 13
|
Davenport, IA
|
|
—
|
|
|
566
|
|
|
2,017
|
|
|
—
|
|
|
566
|
|
|
2,017
|
|
|
25
|
|
|
2018
|
|
1966
|
|
815 East Locust Street
|
Davenport, IA
|
|
—
|
|
|
910
|
|
|
20,043
|
|
|
—
|
|
|
910
|
|
|
20,043
|
|
|
231
|
|
|
2018
|
|
2008
|
|
3800 Commerce Blvd.
|
Dayton, OH
|
|
—
|
|
|
1,188
|
|
|
5,414
|
|
|
—
|
|
|
1,188
|
|
|
5,414
|
|
|
69
|
|
|
2018
|
|
1977
|
|
1974 North Fairfield Road
|
Dearborn Heights, MI
|
|
—
|
|
|
1,197
|
|
|
3,396
|
|
|
—
|
|
|
1,197
|
|
|
3,396
|
|
|
47
|
|
|
2018
|
|
1964
|
|
26001 Ford Road
|
Decatur, GA
|
|
—
|
|
|
1,413
|
|
|
13,800
|
|
|
—
|
|
|
1,413
|
|
|
13,800
|
|
|
152
|
|
|
2018
|
|
1977
|
|
2722 North Decatur Road
|
Delray Beach, FL
|
|
—
|
|
|
1,158
|
|
|
13,576
|
|
|
—
|
|
|
1,158
|
|
|
13,576
|
|
|
162
|
|
|
2018
|
|
1998
|
|
16150 Jog Road
|
Delray Beach, FL
|
|
—
|
|
|
2,125
|
|
|
11,844
|
|
|
—
|
|
|
2,125
|
|
|
11,844
|
|
|
146
|
|
|
2018
|
|
1998
|
|
16200 Jog Road
|
Denton, TX
|
|
—
|
|
|
1,760
|
|
|
8,305
|
|
|
100
|
|
|
1,760
|
|
|
8,405
|
|
|
1,799
|
|
|
2010
|
|
2011
|
|
2125 Brinker Rd
|
Denver, CO
|
|
—
|
|
|
1,450
|
|
|
19,389
|
|
|
3,133
|
|
|
1,450
|
|
|
22,522
|
|
|
4,292
|
|
|
2012
|
|
1997
|
|
4901 South Monaco Street
|
Denver, CO
|
|
—
|
|
|
3,222
|
|
|
24,811
|
|
|
—
|
|
|
3,222
|
|
|
24,811
|
|
|
275
|
|
|
2018
|
|
1988
|
|
290 South Monaco Parkway
|
Derby, UK
|
|
—
|
|
|
2,359
|
|
|
8,539
|
|
|
—
|
|
|
2,359
|
|
|
8,539
|
|
|
712
|
|
|
2014
|
|
2015
|
|
Rykneld Road
|
Dover, DE
|
|
—
|
|
|
600
|
|
|
22,266
|
|
|
141
|
|
|
600
|
|
|
22,407
|
|
|
4,718
|
|
|
2011
|
|
1984
|
|
1080 Silver Lake Blvd.
|
Dublin, OH
|
|
—
|
|
|
1,393
|
|
|
2,912
|
|
|
—
|
|
|
1,393
|
|
|
2,912
|
|
|
42
|
|
|
2018
|
|
2014
|
|
4075 W. Dublin-Granville Road
|
Dubuque, IA
|
|
—
|
|
|
568
|
|
|
8,904
|
|
|
—
|
|
|
568
|
|
|
8,904
|
|
|
100
|
|
|
2018
|
|
1971
|
|
901 West Third Street
|
Dundalk, MD
|
|
—
|
|
|
1,770
|
|
|
32,047
|
|
|
784
|
|
|
1,770
|
|
|
32,831
|
|
|
6,877
|
|
|
2011
|
|
1978
|
|
7232 German Hill Road
|
Dunedin, FL
|
|
—
|
|
|
1,883
|
|
|
13,329
|
|
|
—
|
|
|
1,883
|
|
|
13,329
|
|
|
151
|
|
|
2018
|
|
1983
|
|
870 Patricia Avenue
|
Durham, NC
|
|
—
|
|
|
1,476
|
|
|
10,659
|
|
|
2,196
|
|
|
1,476
|
|
|
12,855
|
|
|
11,898
|
|
|
1997
|
|
1999
|
|
4434 Ben Franklin Blvd.
|
Eagan, MN
|
|
16,470
|
|
|
2,260
|
|
|
31,643
|
|
|
300
|
|
|
2,260
|
|
|
31,943
|
|
|
2,737
|
|
|
2015
|
|
2004
|
|
3810 Alder Avenue
|
East Brunswick, NJ
|
|
—
|
|
|
1,380
|
|
|
34,229
|
|
|
849
|
|
|
1,380
|
|
|
35,078
|
|
|
6,708
|
|
|
2011
|
|
1998
|
|
606 Cranbury Rd.
|
Eastbourne, UK
|
|
—
|
|
|
4,071
|
|
|
24,438
|
|
|
964
|
|
|
4,209
|
|
|
25,264
|
|
|
2,847
|
|
|
2014
|
|
1999
|
|
Carew Road
|
Easton, PA
|
|
—
|
|
|
1,109
|
|
|
7,502
|
|
|
—
|
|
|
1,109
|
|
|
7,502
|
|
|
116
|
|
|
2018
|
|
2015
|
|
4100 Freemansburg Avenue
|
Easton, PA
|
|
—
|
|
|
1,430
|
|
|
13,400
|
|
|
—
|
|
|
1,430
|
|
|
13,400
|
|
|
160
|
|
|
2018
|
|
1981
|
|
2600 Northampton Street
|
Easton, PA
|
|
—
|
|
|
1,620
|
|
|
10,052
|
|
|
—
|
|
|
1,620
|
|
|
10,052
|
|
|
142
|
|
|
2018
|
|
2000
|
|
4100 Freemansburg Avenue
|
Eden, NC
|
|
—
|
|
|
390
|
|
|
4,877
|
|
|
—
|
|
|
390
|
|
|
4,877
|
|
|
2,046
|
|
|
2003
|
|
1998
|
|
314 W. Kings Hwy.
|
Edmond, OK
|
|
—
|
|
|
410
|
|
|
8,388
|
|
|
—
|
|
|
410
|
|
|
8,388
|
|
|
1,543
|
|
|
2012
|
|
2001
|
|
15401 North Pennsylvania Avenue
|
Edmond, OK
|
|
—
|
|
|
1,810
|
|
|
14,849
|
|
|
2,630
|
|
|
1,810
|
|
|
17,479
|
|
|
2,118
|
|
|
2014
|
|
1985
|
|
1225 Lakeshore Drive
|
Edmond, OK
|
|
—
|
|
|
1,650
|
|
|
25,167
|
|
|
—
|
|
|
1,650
|
|
|
25,167
|
|
|
1,300
|
|
|
2014
|
|
2017
|
|
2709 East Danforth Road
|
Elizabeth City, NC
|
|
—
|
|
|
200
|
|
|
2,760
|
|
|
2,011
|
|
|
200
|
|
|
4,771
|
|
|
2,264
|
|
|
1998
|
|
1999
|
|
400 Hastings Lane
|
Elk Grove Village, IL
|
|
—
|
|
|
1,344
|
|
|
7,076
|
|
|
—
|
|
|
1,344
|
|
|
7,076
|
|
|
88
|
|
|
2018
|
|
1995
|
|
1940 Nerge Road Elk
|
Elk Grove Village, IL
|
|
—
|
|
|
3,733
|
|
|
18,751
|
|
|
—
|
|
|
3,733
|
|
|
18,751
|
|
|
207
|
|
|
2018
|
|
1988
|
|
1920 Nerge Road
|
Emeryville, CA
|
|
—
|
|
|
2,560
|
|
|
57,491
|
|
|
641
|
|
|
2,560
|
|
|
58,132
|
|
|
6,734
|
|
|
2014
|
|
2010
|
|
1440 40th Street
|
Englewood, NJ
|
|
—
|
|
|
930
|
|
|
4,514
|
|
|
26
|
|
|
930
|
|
|
4,540
|
|
|
1,075
|
|
|
2011
|
|
1966
|
|
333 Grand Avenue
|
Epsom, UK
|
|
36,932
|
|
|
20,159
|
|
|
34,803
|
|
|
2,053
|
|
|
20,840
|
|
|
36,175
|
|
|
1,933
|
|
|
2016
|
|
2014
|
|
450-458 Reigate Road
|
Eureka, KS
|
|
—
|
|
|
50
|
|
|
3,950
|
|
|
71
|
|
|
50
|
|
|
4,021
|
|
|
339
|
|
|
2015
|
|
1994
|
|
1820 E River St
|
Everett, WA
|
|
—
|
|
|
1,400
|
|
|
5,476
|
|
|
—
|
|
|
1,400
|
|
|
5,476
|
|
|
2,819
|
|
|
1999
|
|
1999
|
|
2015 Lake Heights Dr.
|
Exton, PA
|
|
—
|
|
|
3,600
|
|
|
27,267
|
|
|
—
|
|
|
3,600
|
|
|
27,267
|
|
|
299
|
|
|
2017
|
|
2018
|
|
501 Thomas Jones Way
|
Fairfax, VA
|
|
—
|
|
|
1,827
|
|
|
17,309
|
|
|
—
|
|
|
1,827
|
|
|
17,309
|
|
|
208
|
|
|
2018
|
|
1997
|
|
12469 Lee Jackson Mem Highway
|
(Dollars in thousands)
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Triple-net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Fairfax, VA
|
|
—
|
|
|
4,099
|
|
|
17,620
|
|
|
—
|
|
|
4,099
|
|
|
17,620
|
|
|
208
|
|
|
2018
|
|
1990
|
|
12475 Lee Jackson Memorial Highway
|
Fairhope, AL
|
|
—
|
|
|
570
|
|
|
9,119
|
|
|
112
|
|
|
570
|
|
|
9,231
|
|
|
1,656
|
|
|
2012
|
|
1987
|
|
50 Spring Run Road
|
Fall River, MA
|
|
—
|
|
|
620
|
|
|
5,829
|
|
|
4,856
|
|
|
620
|
|
|
10,685
|
|
|
5,463
|
|
|
1996
|
|
1973
|
|
1748 Highland Ave.
|
Fanwood, NJ
|
|
—
|
|
|
2,850
|
|
|
55,175
|
|
|
1,123
|
|
|
2,850
|
|
|
56,298
|
|
|
10,633
|
|
|
2011
|
|
1982
|
|
295 South Ave.
|
Faribault, MN
|
|
—
|
|
|
780
|
|
|
11,539
|
|
|
300
|
|
|
780
|
|
|
11,839
|
|
|
964
|
|
|
2015
|
|
2003
|
|
828 1st Street NE
|
Farmington, CT
|
|
—
|
|
|
1,693
|
|
|
10,459
|
|
|
—
|
|
|
1,693
|
|
|
10,459
|
|
|
128
|
|
|
2018
|
|
1997
|
|
45 South Road
|
Farnborough, UK
|
|
—
|
|
|
2,036
|
|
|
5,737
|
|
|
262
|
|
|
2,104
|
|
|
5,931
|
|
|
626
|
|
|
2014
|
|
1980
|
|
Bruntile Close, Reading Road
|
Fayetteville, PA
|
|
—
|
|
|
2,150
|
|
|
32,951
|
|
|
2,013
|
|
|
2,150
|
|
|
34,964
|
|
|
3,114
|
|
|
2015
|
|
1991
|
|
6375 Chambersburg Road
|
Fayetteville, NY
|
|
—
|
|
|
410
|
|
|
3,962
|
|
|
500
|
|
|
410
|
|
|
4,462
|
|
|
1,973
|
|
|
2001
|
|
1997
|
|
5125 Highbridge St.
|
Findlay, OH
|
|
—
|
|
|
200
|
|
|
1,800
|
|
|
—
|
|
|
200
|
|
|
1,800
|
|
|
1,019
|
|
|
1997
|
|
1997
|
|
725 Fox Run Rd.
|
Fishers, IN
|
|
—
|
|
|
1,500
|
|
|
14,500
|
|
|
—
|
|
|
1,500
|
|
|
14,500
|
|
|
3,540
|
|
|
2010
|
|
2000
|
|
9745 Olympia Dr.
|
Fishersville, VA
|
|
—
|
|
|
788
|
|
|
2,101
|
|
|
—
|
|
|
788
|
|
|
2,101
|
|
|
437
|
|
|
2018
|
|
1998
|
|
83 Cross Rd Ln
|
Flint, MI
|
|
—
|
|
|
1,271
|
|
|
18,056
|
|
|
—
|
|
|
1,271
|
|
|
18,056
|
|
|
202
|
|
|
2018
|
|
1969
|
|
3011 North Center Road
|
Florence, NJ
|
|
—
|
|
|
300
|
|
|
2,978
|
|
|
—
|
|
|
300
|
|
|
2,978
|
|
|
1,332
|
|
|
2002
|
|
1999
|
|
901 Broad St.
|
Florence, AL
|
|
—
|
|
|
353
|
|
|
13,049
|
|
|
223
|
|
|
385
|
|
|
13,240
|
|
|
3,575
|
|
|
2010
|
|
1999
|
|
3275 County Road 47
|
Flourtown, PA
|
|
—
|
|
|
1,800
|
|
|
14,830
|
|
|
266
|
|
|
1,800
|
|
|
15,096
|
|
|
3,297
|
|
|
2011
|
|
1908
|
|
350 Haws Lane
|
Flower Mound, TX
|
|
—
|
|
|
1,800
|
|
|
8,414
|
|
|
100
|
|
|
1,800
|
|
|
8,514
|
|
|
1,539
|
|
|
2011
|
|
2012
|
|
4141 Long Prairie Road
|
Floyd, VA
|
|
—
|
|
|
680
|
|
|
3,618
|
|
|
—
|
|
|
680
|
|
|
3,618
|
|
|
247
|
|
|
2018
|
|
1979
|
|
237 Franklin Pike Rd SE
|
Flushing, MI
|
|
—
|
|
|
690
|
|
|
1,702
|
|
|
—
|
|
|
690
|
|
|
1,702
|
|
|
32
|
|
|
2018
|
|
1999
|
|
640 Sunnyside Drive
|
Flushing, MI
|
|
—
|
|
|
1,415
|
|
|
8,536
|
|
|
—
|
|
|
1,415
|
|
|
8,536
|
|
|
105
|
|
|
2018
|
|
1967
|
|
540 Sunnyside Drive
|
Folsom, CA
|
|
—
|
|
|
—
|
|
|
33,600
|
|
|
—
|
|
|
1,582
|
|
|
32,018
|
|
|
5,004
|
|
|
2013
|
|
2009
|
|
330 Montrose Drive
|
Forest City, NC
|
|
—
|
|
|
320
|
|
|
4,497
|
|
|
—
|
|
|
320
|
|
|
4,497
|
|
|
1,902
|
|
|
2003
|
|
1999
|
|
493 Piney Ridge Rd.
|
Fort Ashby, WV
|
|
—
|
|
|
330
|
|
|
19,566
|
|
|
356
|
|
|
330
|
|
|
19,922
|
|
|
4,054
|
|
|
2011
|
|
1980
|
|
Diane Drive, Box 686
|
Fort Collins, CO
|
|
—
|
|
|
3,680
|
|
|
58,608
|
|
|
—
|
|
|
3,680
|
|
|
58,608
|
|
|
5,006
|
|
|
2015
|
|
2007
|
|
4750 Pleasant Oak Drive
|
Fort Collins, CO
|
|
—
|
|
|
890
|
|
|
4,532
|
|
|
—
|
|
|
890
|
|
|
4,532
|
|
|
89
|
|
|
2018
|
|
1965
|
|
1005 East Elizabeth
|
Fort Wayne, IN
|
|
—
|
|
|
170
|
|
|
8,232
|
|
|
—
|
|
|
170
|
|
|
8,232
|
|
|
2,649
|
|
|
2006
|
|
2006
|
|
2626 Fairfield Ave.
|
Fort Worth, TX
|
|
—
|
|
|
450
|
|
|
13,615
|
|
|
5,086
|
|
|
450
|
|
|
18,701
|
|
|
4,213
|
|
|
2010
|
|
2011
|
|
425 Alabama Ave.
|
Fort Worth, TX
|
|
—
|
|
|
2,080
|
|
|
27,888
|
|
|
2,401
|
|
|
2,080
|
|
|
30,289
|
|
|
7,355
|
|
|
2012
|
|
2001
|
|
2151 Green Oaks Road
|
Fountain Valley, CA
|
|
—
|
|
|
5,259
|
|
|
9,379
|
|
|
—
|
|
|
5,259
|
|
|
9,379
|
|
|
110
|
|
|
2018
|
|
1988
|
|
11680 Warner Avenue
|
Franconia, NH
|
|
—
|
|
|
360
|
|
|
11,320
|
|
|
70
|
|
|
360
|
|
|
11,390
|
|
|
2,433
|
|
|
2011
|
|
1971
|
|
93 Main Street
|
Fredericksburg, VA
|
|
—
|
|
|
1,000
|
|
|
20,000
|
|
|
1,200
|
|
|
1,000
|
|
|
21,200
|
|
|
7,399
|
|
|
2005
|
|
1999
|
|
3500 Meekins Dr.
|
Fredericksburg, VA
|
|
—
|
|
|
1,130
|
|
|
23,202
|
|
|
—
|
|
|
1,130
|
|
|
23,202
|
|
|
2,704
|
|
|
2014
|
|
2010
|
|
140 Brimley Drive
|
Fresno, CA
|
|
—
|
|
|
2,500
|
|
|
35,800
|
|
|
118
|
|
|
2,500
|
|
|
35,918
|
|
|
9,497
|
|
|
2008
|
|
1991
|
|
7173 North Sharon Avenue
|
Ft. Myers, FL
|
|
—
|
|
|
1,110
|
|
|
10,562
|
|
|
—
|
|
|
1,110
|
|
|
10,562
|
|
|
128
|
|
|
2018
|
|
1999
|
|
15950 McGregor Boulevard
|
Ft. Myers, FL
|
|
—
|
|
|
2,139
|
|
|
18,240
|
|
|
—
|
|
|
2,139
|
|
|
18,240
|
|
|
215
|
|
|
2018
|
|
1990
|
|
1600 Matthew Drive
|
Ft. Myers, FL
|
|
—
|
|
|
2,502
|
|
|
9,744
|
|
|
—
|
|
|
2,502
|
|
|
9,744
|
|
|
139
|
|
|
2018
|
|
2000
|
|
13881 Eagle Ridge Drive
|
Galesburg, IL
|
|
—
|
|
|
1,708
|
|
|
3,841
|
|
|
—
|
|
|
1,708
|
|
|
3,841
|
|
|
46
|
|
|
2018
|
|
1964
|
|
280 East Losey Street
|
Gardner, KS
|
|
—
|
|
|
200
|
|
|
2,800
|
|
|
93
|
|
|
200
|
|
|
2,893
|
|
|
259
|
|
|
2015
|
|
2000
|
|
869 Juniper Terrace
|
Gardnerville, NV
|
|
—
|
|
|
1,143
|
|
|
10,831
|
|
|
1,118
|
|
|
1,164
|
|
|
11,928
|
|
|
8,904
|
|
|
1998
|
|
1999
|
|
1565-A Virginia Ranch Rd.
|
Gastonia, NC
|
|
—
|
|
|
470
|
|
|
6,129
|
|
|
—
|
|
|
470
|
|
|
6,129
|
|
|
2,535
|
|
|
2003
|
|
1998
|
|
1680 S. New Hope Rd.
|
Gastonia, NC
|
|
—
|
|
|
310
|
|
|
3,096
|
|
|
22
|
|
|
310
|
|
|
3,118
|
|
|
1,355
|
|
|
2003
|
|
1994
|
|
1717 Union Rd.
|
Gastonia, NC
|
|
—
|
|
|
400
|
|
|
5,029
|
|
|
120
|
|
|
400
|
|
|
5,149
|
|
|
2,143
|
|
|
2003
|
|
1996
|
|
1750 Robinwood Rd.
|
Geneva, IL
|
|
—
|
|
|
1,502
|
|
|
16,198
|
|
|
—
|
|
|
1,502
|
|
|
16,198
|
|
|
191
|
|
|
2018
|
|
2000
|
|
2388 Bricher Road
|
Georgetown, TX
|
|
—
|
|
|
200
|
|
|
2,100
|
|
|
—
|
|
|
200
|
|
|
2,100
|
|
|
1,177
|
|
|
1997
|
|
1997
|
|
2600 University Dr., E.
|
Gig Harbor, WA
|
|
—
|
|
|
1,560
|
|
|
15,947
|
|
|
275
|
|
|
1,583
|
|
|
16,199
|
|
|
4,269
|
|
|
2010
|
|
1994
|
|
3213 45th St. Court NW
|
(Dollars in thousands)
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Triple-net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Gig Harbor, WA
|
|
—
|
|
|
3,000
|
|
|
4,463
|
|
|
—
|
|
|
3,000
|
|
|
4,463
|
|
|
64
|
|
|
2018
|
|
1990
|
|
3309 45th Street Court Northwest
|
Glen Ellyn, IL
|
|
—
|
|
|
1,496
|
|
|
6,636
|
|
|
—
|
|
|
1,496
|
|
|
6,636
|
|
|
87
|
|
|
2018
|
|
2001
|
|
2S706 Park Boulevard
|
Granbury, TX
|
|
—
|
|
|
2,550
|
|
|
2,940
|
|
|
777
|
|
|
2,550
|
|
|
3,717
|
|
|
737
|
|
|
2012
|
|
1996
|
|
916 East Highway 377
|
Grand Ledge, MI
|
|
—
|
|
|
1,150
|
|
|
16,286
|
|
|
5,119
|
|
|
1,150
|
|
|
21,405
|
|
|
4,313
|
|
|
2010
|
|
1999
|
|
4775 Village Dr
|
Granger, IN
|
|
—
|
|
|
1,670
|
|
|
21,280
|
|
|
2,401
|
|
|
1,670
|
|
|
23,681
|
|
|
5,011
|
|
|
2010
|
|
2009
|
|
6330 North Fir Rd
|
Grapevine, TX
|
|
—
|
|
|
2,220
|
|
|
17,648
|
|
|
—
|
|
|
2,220
|
|
|
17,648
|
|
|
1,554
|
|
|
2013
|
|
2014
|
|
4545 Merlot Drive
|
Great Falls, MT
|
|
—
|
|
|
630
|
|
|
6,007
|
|
|
—
|
|
|
630
|
|
|
6,007
|
|
|
357
|
|
|
2018
|
|
2001
|
|
1801 9th Street South
|
Greeley, CO
|
|
—
|
|
|
1,077
|
|
|
18,051
|
|
|
—
|
|
|
1,077
|
|
|
18,051
|
|
|
806
|
|
|
2017
|
|
2009
|
|
5300 West 29th Street
|
Greenfield, WI
|
|
—
|
|
|
—
|
|
|
15,204
|
|
|
—
|
|
|
890
|
|
|
14,314
|
|
|
2,085
|
|
|
2013
|
|
1983
|
|
5017 South 110th Street
|
Greensboro, NC
|
|
—
|
|
|
330
|
|
|
2,970
|
|
|
554
|
|
|
330
|
|
|
3,524
|
|
|
1,506
|
|
|
2003
|
|
1996
|
|
5809 Old Oak Ridge Rd.
|
Greensboro, NC
|
|
—
|
|
|
560
|
|
|
5,507
|
|
|
1,013
|
|
|
560
|
|
|
6,520
|
|
|
2,770
|
|
|
2003
|
|
1997
|
|
4400 Lawndale Dr.
|
Greenville, SC
|
|
—
|
|
|
1,751
|
|
|
8,774
|
|
|
—
|
|
|
1,751
|
|
|
8,774
|
|
|
106
|
|
|
2018
|
|
1966
|
|
600 Sulphur Springs Road
|
Greenville, SC
|
|
—
|
|
|
947
|
|
|
1,445
|
|
|
—
|
|
|
947
|
|
|
1,445
|
|
|
29
|
|
|
2018
|
|
1976
|
|
601 Sulphur Springs Road
|
Greenville, NC
|
|
—
|
|
|
290
|
|
|
4,393
|
|
|
168
|
|
|
290
|
|
|
4,561
|
|
|
1,882
|
|
|
2003
|
|
1998
|
|
2715 Dickinson Ave.
|
Greenwood, IN
|
|
—
|
|
|
1,550
|
|
|
22,770
|
|
|
81
|
|
|
1,550
|
|
|
22,851
|
|
|
4,932
|
|
|
2010
|
|
2007
|
|
2339 South SR 135
|
Grosse Pointe, MI
|
|
—
|
|
|
867
|
|
|
2,386
|
|
|
—
|
|
|
867
|
|
|
2,386
|
|
|
30
|
|
|
2018
|
|
1964
|
|
21401 Mack Avenue
|
Groton, CT
|
|
—
|
|
|
2,430
|
|
|
19,941
|
|
|
968
|
|
|
2,430
|
|
|
20,909
|
|
|
4,784
|
|
|
2011
|
|
1975
|
|
1145 Poquonnock Road
|
Hamilton, NJ
|
|
—
|
|
|
440
|
|
|
4,469
|
|
|
—
|
|
|
440
|
|
|
4,469
|
|
|
1,990
|
|
|
2001
|
|
1998
|
|
1645 Whitehorse-Mercerville Rd.
|
Hanahan, SC
|
|
—
|
|
|
1,944
|
|
|
3,988
|
|
|
—
|
|
|
1,944
|
|
|
3,988
|
|
|
57
|
|
|
2018
|
|
1989
|
|
1800 Eagle Landing Boulevard
|
Hanford, UK
|
|
—
|
|
|
1,382
|
|
|
9,829
|
|
|
378
|
|
|
1,428
|
|
|
10,161
|
|
|
1,453
|
|
|
2013
|
|
2012
|
|
Bankhouse Road
|
Harrisburg, PA
|
|
—
|
|
|
569
|
|
|
12,826
|
|
|
—
|
|
|
569
|
|
|
12,826
|
|
|
150
|
|
|
2018
|
|
2000
|
|
2625 Ailanthus Lane
|
Harrow, UK
|
|
—
|
|
|
7,402
|
|
|
8,266
|
|
|
529
|
|
|
7,652
|
|
|
8,545
|
|
|
964
|
|
|
2014
|
|
2001
|
|
177 Preston Hill
|
Hatboro, PA
|
|
—
|
|
|
—
|
|
|
28,112
|
|
|
1,771
|
|
|
—
|
|
|
29,883
|
|
|
6,096
|
|
|
2011
|
|
1996
|
|
3485 Davisville Road
|
Hatboro, PA
|
|
—
|
|
|
1,192
|
|
|
7,611
|
|
|
—
|
|
|
1,192
|
|
|
7,611
|
|
|
122
|
|
|
2018
|
|
2000
|
|
779 West County Line Road
|
Hatfield, UK
|
|
—
|
|
|
2,924
|
|
|
7,527
|
|
|
353
|
|
|
3,023
|
|
|
7,781
|
|
|
1,121
|
|
|
2013
|
|
2012
|
|
St Albans Road East
|
Hattiesburg, MS
|
|
—
|
|
|
450
|
|
|
13,469
|
|
|
—
|
|
|
450
|
|
|
13,469
|
|
|
2,732
|
|
|
2010
|
|
2009
|
|
217 Methodist Hospital Blvd
|
Hemet, CA
|
|
—
|
|
|
6,224
|
|
|
8,414
|
|
|
—
|
|
|
6,224
|
|
|
8,414
|
|
|
102
|
|
|
2018
|
|
1989
|
|
1717 West Stetson Avenue
|
Henry, IL
|
|
—
|
|
|
1,860
|
|
|
3,689
|
|
|
—
|
|
|
1,860
|
|
|
3,689
|
|
|
43
|
|
|
2018
|
|
1987
|
|
1650 Old Indian Town Road
|
Hermitage, TN
|
|
—
|
|
|
1,500
|
|
|
9,943
|
|
|
188
|
|
|
1,500
|
|
|
10,131
|
|
|
1,953
|
|
|
2011
|
|
2006
|
|
4131 Andrew Jackson Parkway
|
Herne Bay, UK
|
|
—
|
|
|
1,900
|
|
|
24,353
|
|
|
1,602
|
|
|
1,964
|
|
|
25,891
|
|
|
3,934
|
|
|
2013
|
|
2011
|
|
165 Reculver Road
|
Hiawatha, KS
|
|
—
|
|
|
40
|
|
|
4,210
|
|
|
29
|
|
|
40
|
|
|
4,239
|
|
|
371
|
|
|
2015
|
|
1996
|
|
400 Kansas Ave
|
Hickory, NC
|
|
—
|
|
|
290
|
|
|
987
|
|
|
232
|
|
|
290
|
|
|
1,219
|
|
|
650
|
|
|
2003
|
|
1994
|
|
2530 16th St. N.E.
|
High Point, NC
|
|
—
|
|
|
560
|
|
|
4,443
|
|
|
793
|
|
|
560
|
|
|
5,236
|
|
|
2,205
|
|
|
2003
|
|
2000
|
|
1568 Skeet Club Rd.
|
High Point, NC
|
|
—
|
|
|
370
|
|
|
2,185
|
|
|
410
|
|
|
370
|
|
|
2,595
|
|
|
1,149
|
|
|
2003
|
|
1999
|
|
1564 Skeet Club Rd.
|
High Point, NC
|
|
—
|
|
|
330
|
|
|
3,395
|
|
|
28
|
|
|
330
|
|
|
3,423
|
|
|
1,450
|
|
|
2003
|
|
1994
|
|
201 W. Hartley Dr.
|
High Point, NC
|
|
—
|
|
|
430
|
|
|
4,143
|
|
|
—
|
|
|
430
|
|
|
4,143
|
|
|
1,743
|
|
|
2003
|
|
1998
|
|
1560 Skeet Club Rd.
|
Highland Park, IL
|
|
—
|
|
|
2,820
|
|
|
15,832
|
|
|
189
|
|
|
2,820
|
|
|
16,021
|
|
|
2,557
|
|
|
2011
|
|
2012
|
|
1651 Richfield Avenue
|
Highlands Ranch, CO
|
|
—
|
|
|
940
|
|
|
3,721
|
|
|
4,983
|
|
|
940
|
|
|
8,704
|
|
|
2,303
|
|
|
2002
|
|
1999
|
|
9160 S. University Blvd.
|
Hillsboro, OH
|
|
—
|
|
|
1,792
|
|
|
6,341
|
|
|
—
|
|
|
1,792
|
|
|
6,341
|
|
|
105
|
|
|
2018
|
|
1983
|
|
1141 Northview Drive
|
Hinckley, UK
|
|
—
|
|
|
2,159
|
|
|
4,194
|
|
|
215
|
|
|
2,232
|
|
|
4,336
|
|
|
684
|
|
|
2013
|
|
2013
|
|
Tudor Road
|
Hindhead, UK
|
|
44,662
|
|
|
17,852
|
|
|
48,645
|
|
|
2,466
|
|
|
18,455
|
|
|
50,508
|
|
|
2,649
|
|
|
2016
|
|
2012
|
|
Portsmouth Road
|
Hinsdale, IL
|
|
—
|
|
|
4,033
|
|
|
24,287
|
|
|
—
|
|
|
4,033
|
|
|
24,287
|
|
|
270
|
|
|
2018
|
|
1971
|
|
600 W Ogden Avenue
|
Hockessin, DE
|
|
—
|
|
|
1,120
|
|
|
6,308
|
|
|
1,247
|
|
|
1,120
|
|
|
7,555
|
|
|
941
|
|
|
2014
|
|
1992
|
|
100 Saint Claire Drive
|
Holton, KS
|
|
—
|
|
|
40
|
|
|
7,460
|
|
|
13
|
|
|
40
|
|
|
7,473
|
|
|
611
|
|
|
2015
|
|
1996
|
|
410 Juniper Dr
|
Homewood, IL
|
|
—
|
|
|
2,395
|
|
|
7,652
|
|
|
—
|
|
|
2,395
|
|
|
7,652
|
|
|
87
|
|
|
2018
|
|
1989
|
|
940 Maple Avenue
|
(Dollars in thousands)
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Triple-net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Houston, TX
|
|
—
|
|
|
1,040
|
|
|
31,965
|
|
|
4,969
|
|
|
1,040
|
|
|
36,934
|
|
|
7,493
|
|
|
2012
|
|
1999
|
|
505 Bering Drive
|
Howard, WI
|
|
—
|
|
|
579
|
|
|
32,122
|
|
|
10
|
|
|
579
|
|
|
32,132
|
|
|
1,099
|
|
|
2017
|
|
2016
|
|
2790 Elm Tree Hill
|
Huntingdon Valley, PA
|
|
—
|
|
|
1,150
|
|
|
3,730
|
|
|
—
|
|
|
1,150
|
|
|
3,730
|
|
|
63
|
|
|
2018
|
|
1993
|
|
3430 Huntingdon Pike
|
Hyattsville, MD
|
|
—
|
|
|
4,017
|
|
|
2,298
|
|
|
—
|
|
|
4,017
|
|
|
2,298
|
|
|
33
|
|
|
2018
|
|
1964
|
|
6500 Riggs Road
|
Independence, VA
|
|
—
|
|
|
1,082
|
|
|
6,767
|
|
|
—
|
|
|
1,082
|
|
|
6,767
|
|
|
438
|
|
|
2018
|
|
1998
|
|
400 S Independence Ave
|
Indianapolis, IN
|
|
—
|
|
|
870
|
|
|
14,688
|
|
|
—
|
|
|
870
|
|
|
14,688
|
|
|
1,837
|
|
|
2014
|
|
2014
|
|
1635 N Arlington Avenue
|
Indianapolis, IN
|
|
—
|
|
|
1,105
|
|
|
6,645
|
|
|
—
|
|
|
1,105
|
|
|
6,645
|
|
|
76
|
|
|
2018
|
|
1979
|
|
8549 South Madison Avenue
|
Jackson, NJ
|
|
—
|
|
|
6,500
|
|
|
26,405
|
|
|
3,107
|
|
|
6,500
|
|
|
29,512
|
|
|
4,577
|
|
|
2012
|
|
2001
|
|
2 Kathleen Drive
|
Jacksonville, FL
|
|
—
|
|
|
750
|
|
|
25,231
|
|
|
—
|
|
|
750
|
|
|
25,231
|
|
|
1,645
|
|
|
2013
|
|
2014
|
|
5939 Roosevelt Boulevard
|
Jacksonville, FL
|
|
—
|
|
|
—
|
|
|
26,381
|
|
|
1,691
|
|
|
1,691
|
|
|
26,381
|
|
|
1,716
|
|
|
2013
|
|
2014
|
|
4000 San Pablo Parkway
|
Jacksonville, FL
|
|
—
|
|
|
1,752
|
|
|
2,553
|
|
|
—
|
|
|
1,752
|
|
|
2,553
|
|
|
31
|
|
|
2018
|
|
1989
|
|
8495 Normandy Boulevard Jacksonville
|
Jacksonville, FL
|
|
—
|
|
|
2,182
|
|
|
9,491
|
|
|
—
|
|
|
2,182
|
|
|
9,491
|
|
|
123
|
|
|
2018
|
|
1980
|
|
3648 University Boulevard South
|
Jefferson Hills, PA
|
|
—
|
|
|
2,265
|
|
|
13,618
|
|
|
—
|
|
|
2,265
|
|
|
13,618
|
|
|
233
|
|
|
2018
|
|
1997
|
|
380 Wray Large Road
|
Jersey Shore, PA
|
|
—
|
|
|
600
|
|
|
8,107
|
|
|
—
|
|
|
600
|
|
|
8,107
|
|
|
89
|
|
|
2018
|
|
1973
|
|
1008 Thompson Street
|
Kansas City, KS
|
|
—
|
|
|
700
|
|
|
20,115
|
|
|
—
|
|
|
700
|
|
|
20,115
|
|
|
1,646
|
|
|
2015
|
|
2015
|
|
8900 Parallel Parkway
|
Katy, TX
|
|
—
|
|
|
1,778
|
|
|
22,622
|
|
|
—
|
|
|
1,778
|
|
|
22,622
|
|
|
1,047
|
|
|
2017
|
|
2015
|
|
24802 Kingsland Boulevard
|
Kenner, LA
|
|
—
|
|
|
1,100
|
|
|
10,036
|
|
|
349
|
|
|
1,100
|
|
|
10,385
|
|
|
9,529
|
|
|
1998
|
|
2000
|
|
1600 Joe Yenni Blvd
|
Kensington, MD
|
|
—
|
|
|
1,753
|
|
|
18,626
|
|
|
—
|
|
|
1,753
|
|
|
18,626
|
|
|
211
|
|
|
2018
|
|
2002
|
|
4301 Knowles Avenue
|
Kenwood, OH
|
|
—
|
|
|
821
|
|
|
11,043
|
|
|
—
|
|
|
821
|
|
|
11,043
|
|
|
129
|
|
|
2018
|
|
2000
|
|
4580 East Galbraith Road
|
Kettering, OH
|
|
—
|
|
|
1,229
|
|
|
4,703
|
|
|
—
|
|
|
1,229
|
|
|
4,703
|
|
|
63
|
|
|
2018
|
|
1977
|
|
3313 Wilmington Pike
|
King of Prussia, PA
|
|
—
|
|
|
720
|
|
|
14,780
|
|
|
—
|
|
|
720
|
|
|
14,780
|
|
|
180
|
|
|
2018
|
|
1995
|
|
620 West Valley Forge Road
|
King of Prussia, PA
|
|
—
|
|
|
1,205
|
|
|
4,727
|
|
|
—
|
|
|
1,205
|
|
|
4,727
|
|
|
68
|
|
|
2018
|
|
1990
|
|
600 West Valley Forge Road
|
Kingsford, MI
|
|
—
|
|
|
1,362
|
|
|
10,598
|
|
|
—
|
|
|
1,362
|
|
|
10,598
|
|
|
129
|
|
|
2018
|
|
1968
|
|
1225 Woodward Avenue
|
Kingston, PA
|
|
—
|
|
|
986
|
|
|
5,711
|
|
|
—
|
|
|
986
|
|
|
5,711
|
|
|
68
|
|
|
2018
|
|
1974
|
|
200 Second Avenue
|
Kingston upon Thames, UK
|
|
53,595
|
|
|
33,063
|
|
|
46,696
|
|
|
2,926
|
|
|
34,181
|
|
|
48,504
|
|
|
2,573
|
|
|
2016
|
|
2014
|
|
Coombe Lane West
|
Kirkland, WA
|
|
—
|
|
|
1,880
|
|
|
4,315
|
|
|
683
|
|
|
1,880
|
|
|
4,998
|
|
|
1,911
|
|
|
2003
|
|
1996
|
|
6505 Lakeview Dr.
|
Kirkstall, UK
|
|
—
|
|
|
2,437
|
|
|
9,414
|
|
|
401
|
|
|
2,519
|
|
|
9,733
|
|
|
1,396
|
|
|
2013
|
|
2009
|
|
29 Broad Lane
|
Kokomo, IN
|
|
—
|
|
|
710
|
|
|
16,044
|
|
|
—
|
|
|
710
|
|
|
16,044
|
|
|
2,001
|
|
|
2014
|
|
2014
|
|
2200 S. Dixon Rd
|
Lacey, WA
|
|
—
|
|
|
2,582
|
|
|
18,180
|
|
|
—
|
|
|
2,582
|
|
|
18,180
|
|
|
209
|
|
|
2018
|
|
2012
|
|
4524 Intelco Loop SE
|
Lafayette, LA
|
|
—
|
|
|
1,928
|
|
|
10,483
|
|
|
26
|
|
|
1,928
|
|
|
10,509
|
|
|
4,581
|
|
|
2006
|
|
1993
|
|
204 Energy Parkway
|
Lafayette, CO
|
|
—
|
|
|
1,420
|
|
|
20,192
|
|
|
—
|
|
|
1,420
|
|
|
20,192
|
|
|
2,001
|
|
|
2015
|
|
2015
|
|
329 Exempla Circle
|
Lafayette, IN
|
|
—
|
|
|
670
|
|
|
16,833
|
|
|
1
|
|
|
670
|
|
|
16,834
|
|
|
1,870
|
|
|
2015
|
|
2014
|
|
2402 South Street
|
Lakeway, TX
|
|
—
|
|
|
5,142
|
|
|
23,203
|
|
|
—
|
|
|
5,142
|
|
|
23,203
|
|
|
3,272
|
|
|
2007
|
|
2011
|
|
2000 Medical Dr
|
Lakewood, CO
|
|
—
|
|
|
2,160
|
|
|
28,091
|
|
|
62
|
|
|
2,160
|
|
|
28,153
|
|
|
3,561
|
|
|
2014
|
|
2010
|
|
7395 West Eastman Place
|
Lakewood Ranch, FL
|
|
—
|
|
|
650
|
|
|
6,714
|
|
|
1,988
|
|
|
650
|
|
|
8,702
|
|
|
1,484
|
|
|
2011
|
|
2012
|
|
8230 Nature's Way
|
Lakewood Ranch, FL
|
|
—
|
|
|
1,000
|
|
|
22,388
|
|
|
—
|
|
|
1,000
|
|
|
22,388
|
|
|
3,822
|
|
|
2012
|
|
2005
|
|
8220 Natures Way
|
Lancaster, PA
|
|
—
|
|
|
1,680
|
|
|
14,039
|
|
|
—
|
|
|
1,680
|
|
|
14,039
|
|
|
761
|
|
|
2015
|
|
2017
|
|
31 Millersville Road
|
Lancaster, PA
|
|
—
|
|
|
1,011
|
|
|
7,504
|
|
|
—
|
|
|
1,011
|
|
|
7,504
|
|
|
89
|
|
|
2018
|
|
1966
|
|
100 Abbeyville Road
|
LaPlata, MD
|
|
—
|
|
|
700
|
|
|
19,068
|
|
|
466
|
|
|
700
|
|
|
19,534
|
|
|
4,198
|
|
|
2011
|
|
1984
|
|
One Magnolia Drive
|
Largo, MD
|
|
—
|
|
|
3,361
|
|
|
3,623
|
|
|
—
|
|
|
3,361
|
|
|
3,623
|
|
|
50
|
|
|
2018
|
|
1978
|
|
600 Largo Road
|
Largo, FL
|
|
—
|
|
|
1,166
|
|
|
3,427
|
|
|
—
|
|
|
1,166
|
|
|
3,427
|
|
|
53
|
|
|
2018
|
|
1997
|
|
300 Highland Avenue Northeast
|
Las Vegas, NV
|
|
—
|
|
|
580
|
|
|
23,420
|
|
|
—
|
|
|
580
|
|
|
23,420
|
|
|
4,594
|
|
|
2011
|
|
2002
|
|
2500 North Tenaya Way
|
Laureldale, PA
|
|
—
|
|
|
1,171
|
|
|
14,424
|
|
|
—
|
|
|
1,171
|
|
|
14,424
|
|
|
166
|
|
|
2018
|
|
1980
|
|
2125 Elizabeth Avenue
|
Lawrence, KS
|
|
—
|
|
|
250
|
|
|
8,716
|
|
|
—
|
|
|
250
|
|
|
8,716
|
|
|
1,471
|
|
|
2012
|
|
1996
|
|
3220 Peterson Road
|
Leawood, KS
|
|
—
|
|
|
2,490
|
|
|
32,493
|
|
|
2,209
|
|
|
5,610
|
|
|
31,582
|
|
|
7,303
|
|
|
2012
|
|
1999
|
|
4400 West 115th Street
|
(Dollars in thousands)
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Triple-net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Lebanon, PA
|
|
—
|
|
|
728
|
|
|
10,370
|
|
|
—
|
|
|
728
|
|
|
10,370
|
|
|
130
|
|
|
2018
|
|
1998
|
|
100 Tuck Court
|
Lebanon, PA
|
|
—
|
|
|
1,214
|
|
|
5,962
|
|
|
—
|
|
|
1,214
|
|
|
5,962
|
|
|
84
|
|
|
2018
|
|
1980
|
|
900 Tuck Street
|
Lee, MA
|
|
—
|
|
|
290
|
|
|
18,135
|
|
|
926
|
|
|
290
|
|
|
19,061
|
|
|
8,404
|
|
|
2002
|
|
1998
|
|
600 & 620 Laurel St.
|
Leeds, UK
|
|
—
|
|
|
1,974
|
|
|
13,239
|
|
|
515
|
|
|
2,041
|
|
|
13,687
|
|
|
1,305
|
|
|
2015
|
|
2013
|
|
100 Grove Lane
|
Leicester, UK
|
|
—
|
|
|
3,060
|
|
|
24,410
|
|
|
928
|
|
|
3,163
|
|
|
25,235
|
|
|
3,953
|
|
|
2012
|
|
2010
|
|
307 London Road
|
Lenoir, NC
|
|
—
|
|
|
190
|
|
|
3,748
|
|
|
641
|
|
|
190
|
|
|
4,389
|
|
|
1,842
|
|
|
2003
|
|
1998
|
|
1145 Powell Rd., N.E.
|
Lethbridge, AB
|
|
1,312
|
|
|
1,214
|
|
|
2,750
|
|
|
61
|
|
|
1,232
|
|
|
2,793
|
|
|
422
|
|
|
2014
|
|
2003
|
|
785 Columbia Boulevard West
|
Lexana, KS
|
|
—
|
|
|
480
|
|
|
1,770
|
|
|
152
|
|
|
480
|
|
|
1,922
|
|
|
184
|
|
|
2015
|
|
1994
|
|
8710 Caenen Lake Rd
|
Lexington, NC
|
|
—
|
|
|
200
|
|
|
3,900
|
|
|
1,015
|
|
|
200
|
|
|
4,915
|
|
|
2,127
|
|
|
2002
|
|
1997
|
|
161 Young Dr.
|
Libertyville, IL
|
|
—
|
|
|
6,500
|
|
|
40,024
|
|
|
—
|
|
|
6,500
|
|
|
40,024
|
|
|
8,481
|
|
|
2011
|
|
2001
|
|
901 Florsheim Dr
|
Libertyville, IL
|
|
—
|
|
|
2,993
|
|
|
11,550
|
|
|
—
|
|
|
2,993
|
|
|
11,550
|
|
|
130
|
|
|
2018
|
|
1988
|
|
1500 South Milwaukee
|
Lichfield, UK
|
|
—
|
|
|
1,382
|
|
|
30,324
|
|
|
1,071
|
|
|
1,428
|
|
|
31,349
|
|
|
3,020
|
|
|
2015
|
|
2012
|
|
Wissage Road
|
Lillington, NC
|
|
—
|
|
|
470
|
|
|
17,579
|
|
|
—
|
|
|
470
|
|
|
17,579
|
|
|
2,112
|
|
|
2014
|
|
2013
|
|
54 Red Mulberry Way
|
Lillington, NC
|
|
—
|
|
|
500
|
|
|
16,451
|
|
|
—
|
|
|
500
|
|
|
16,451
|
|
|
1,855
|
|
|
2014
|
|
1999
|
|
2041 NC-210 N
|
Lincoln, NE
|
|
—
|
|
|
390
|
|
|
13,807
|
|
|
95
|
|
|
390
|
|
|
13,902
|
|
|
3,154
|
|
|
2010
|
|
2000
|
|
7208 Van Dorn St.
|
Lititz, PA
|
|
—
|
|
|
1,200
|
|
|
13,836
|
|
|
—
|
|
|
1,200
|
|
|
13,836
|
|
|
752
|
|
|
2015
|
|
2016
|
|
80 West Millport Road
|
Livermore, CA
|
|
—
|
|
|
4,100
|
|
|
24,996
|
|
|
—
|
|
|
4,100
|
|
|
24,996
|
|
|
2,642
|
|
|
2014
|
|
1974
|
|
35 Fenton Street
|
Livonia, MI
|
|
—
|
|
|
985
|
|
|
13,558
|
|
|
—
|
|
|
985
|
|
|
13,558
|
|
|
164
|
|
|
2018
|
|
1999
|
|
32500 Seven Mile Road
|
Livonia, MI
|
|
—
|
|
|
1,836
|
|
|
2,278
|
|
|
—
|
|
|
1,836
|
|
|
2,278
|
|
|
33
|
|
|
2018
|
|
1960
|
|
28550 Five Mile Road
|
Longview, TX
|
|
—
|
|
|
610
|
|
|
5,520
|
|
|
—
|
|
|
610
|
|
|
5,520
|
|
|
1,725
|
|
|
2006
|
|
2007
|
|
311 E Hawkins Pkwy
|
Longwood, FL
|
|
—
|
|
|
1,260
|
|
|
6,445
|
|
|
—
|
|
|
1,260
|
|
|
6,445
|
|
|
1,362
|
|
|
2011
|
|
2011
|
|
425 South Ronald Reagan Boulevard
|
Louisburg, KS
|
|
—
|
|
|
280
|
|
|
4,320
|
|
|
44
|
|
|
280
|
|
|
4,364
|
|
|
360
|
|
|
2015
|
|
1996
|
|
202 Rogers St
|
Louisville, KY
|
|
—
|
|
|
490
|
|
|
10,010
|
|
|
2,768
|
|
|
490
|
|
|
12,778
|
|
|
4,869
|
|
|
2005
|
|
1978
|
|
4604 Lowe Rd
|
Loxley, UK
|
|
—
|
|
|
1,369
|
|
|
15,668
|
|
|
577
|
|
|
1,416
|
|
|
16,198
|
|
|
2,474
|
|
|
2013
|
|
2008
|
|
Loxley Road
|
Lutherville, MD
|
|
—
|
|
|
1,100
|
|
|
19,786
|
|
|
1,744
|
|
|
1,100
|
|
|
21,530
|
|
|
4,472
|
|
|
2011
|
|
1988
|
|
515 Brightfield Road
|
Lynchburg, VA
|
|
—
|
|
|
340
|
|
|
16,114
|
|
|
—
|
|
|
340
|
|
|
16,114
|
|
|
1,964
|
|
|
2014
|
|
2013
|
|
189 Monica Blvd
|
Lynchburg, VA
|
|
—
|
|
|
2,904
|
|
|
3,697
|
|
|
—
|
|
|
2,904
|
|
|
3,697
|
|
|
43
|
|
|
2018
|
|
1978
|
|
2200 Landover Place
|
Lynnwood, WA
|
|
—
|
|
|
2,308
|
|
|
5,634
|
|
|
—
|
|
|
2,308
|
|
|
5,634
|
|
|
67
|
|
|
2018
|
|
1987
|
|
3701 188th Street
|
Macomb, IL
|
|
—
|
|
|
1,586
|
|
|
4,059
|
|
|
—
|
|
|
1,586
|
|
|
4,059
|
|
|
46
|
|
|
2018
|
|
1966
|
|
8 Doctors Lane
|
Macungie, PA
|
|
—
|
|
|
960
|
|
|
29,033
|
|
|
84
|
|
|
960
|
|
|
29,117
|
|
|
6,047
|
|
|
2011
|
|
1994
|
|
1718 Spring Creek Road
|
Manalapan, NJ
|
|
—
|
|
|
900
|
|
|
22,624
|
|
|
622
|
|
|
900
|
|
|
23,246
|
|
|
4,447
|
|
|
2011
|
|
2001
|
|
445 Route 9 South
|
Manassas, VA
|
|
—
|
|
|
750
|
|
|
7,446
|
|
|
530
|
|
|
750
|
|
|
7,976
|
|
|
3,092
|
|
|
2003
|
|
1996
|
|
8341 Barrett Dr.
|
Mankato, MN
|
|
—
|
|
|
1,460
|
|
|
32,104
|
|
|
300
|
|
|
1,460
|
|
|
32,404
|
|
|
2,620
|
|
|
2015
|
|
2006
|
|
100 Dublin Road
|
Mansfield, TX
|
|
—
|
|
|
660
|
|
|
5,251
|
|
|
—
|
|
|
660
|
|
|
5,251
|
|
|
1,659
|
|
|
2006
|
|
2007
|
|
2281 Country Club Dr
|
Marietta, OH
|
|
—
|
|
|
1,149
|
|
|
9,376
|
|
|
—
|
|
|
1,149
|
|
|
9,376
|
|
|
109
|
|
|
2018
|
|
1977
|
|
5001 State Route 60
|
Marietta, GA
|
|
—
|
|
|
2,406
|
|
|
12,233
|
|
|
—
|
|
|
2,406
|
|
|
12,233
|
|
|
140
|
|
|
2018
|
|
1980
|
|
4360 Johnson Ferry Place
|
Marietta, PA
|
|
—
|
|
|
1,050
|
|
|
13,633
|
|
|
270
|
|
|
1,050
|
|
|
13,903
|
|
|
1,226
|
|
|
2015
|
|
1999
|
|
2760 Maytown Road
|
Marion, IN
|
|
—
|
|
|
720
|
|
|
12,750
|
|
|
1,136
|
|
|
720
|
|
|
13,886
|
|
|
1,675
|
|
|
2014
|
|
2012
|
|
614 W. 14th Street
|
Marion, IN
|
|
—
|
|
|
990
|
|
|
9,190
|
|
|
824
|
|
|
990
|
|
|
10,014
|
|
|
1,432
|
|
|
2014
|
|
1976
|
|
505 N. Bradner Avenue
|
Marion, OH
|
|
—
|
|
|
2,768
|
|
|
17,420
|
|
|
—
|
|
|
2,768
|
|
|
17,420
|
|
|
259
|
|
|
2018
|
|
2004
|
|
400 Barks Road West
|
Marlborough, UK
|
|
—
|
|
|
2,677
|
|
|
6,822
|
|
|
322
|
|
|
2,768
|
|
|
7,053
|
|
|
777
|
|
|
2014
|
|
1999
|
|
The Common
|
Marlow, UK
|
|
—
|
|
|
9,068
|
|
|
39,720
|
|
|
—
|
|
|
9,068
|
|
|
39,720
|
|
|
2,869
|
|
|
2013
|
|
2014
|
|
210 Little Marlow Road
|
Martinsville, VA
|
|
—
|
|
|
349
|
|
|
—
|
|
|
—
|
|
|
349
|
|
|
—
|
|
|
—
|
|
|
2003
|
|
1900
|
|
Rolling Hills Rd. & US Hwy. 58
|
Marysville, WA
|
|
—
|
|
|
620
|
|
|
4,780
|
|
|
969
|
|
|
620
|
|
|
5,749
|
|
|
2,233
|
|
|
2003
|
|
1998
|
|
9802 48th Dr. N.E.
|
Matawan, NJ
|
|
—
|
|
|
1,830
|
|
|
20,618
|
|
|
166
|
|
|
1,830
|
|
|
20,784
|
|
|
4,158
|
|
|
2011
|
|
1965
|
|
625 State Highway 34
|
(Dollars in thousands)
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Triple-net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Matthews, NC
|
|
—
|
|
|
560
|
|
|
4,738
|
|
|
—
|
|
|
560
|
|
|
4,738
|
|
|
2,031
|
|
|
2003
|
|
1998
|
|
2404 Plantation Center Dr.
|
McHenry, IL
|
|
—
|
|
|
1,576
|
|
|
—
|
|
|
—
|
|
|
1,576
|
|
|
—
|
|
|
—
|
|
|
2006
|
|
1900
|
|
5200 Block of Bull Valley Road
|
McKinney, TX
|
|
—
|
|
|
1,570
|
|
|
7,389
|
|
|
—
|
|
|
1,570
|
|
|
7,389
|
|
|
1,881
|
|
|
2009
|
|
2010
|
|
2701 Alma Rd.
|
McMurray, PA
|
|
—
|
|
|
1,440
|
|
|
15,805
|
|
|
3,894
|
|
|
1,440
|
|
|
19,699
|
|
|
3,641
|
|
|
2010
|
|
2011
|
|
240 Cedar Hill Dr
|
Mechanicsburg, PA
|
|
—
|
|
|
1,350
|
|
|
16,650
|
|
|
—
|
|
|
1,350
|
|
|
16,650
|
|
|
3,344
|
|
|
2011
|
|
1971
|
|
4950 Wilson Lane
|
Medicine Hat, AB
|
|
2,156
|
|
|
932
|
|
|
5,566
|
|
|
98
|
|
|
946
|
|
|
5,650
|
|
|
679
|
|
|
2014
|
|
1999
|
|
65 Valleyview Drive SW
|
Menomonee Falls, WI
|
|
—
|
|
|
1,020
|
|
|
6,984
|
|
|
1,652
|
|
|
1,020
|
|
|
8,636
|
|
|
2,285
|
|
|
2006
|
|
2007
|
|
W128 N6900 Northfield Drive
|
Mentor, OH
|
|
—
|
|
|
1,827
|
|
|
9,941
|
|
|
—
|
|
|
1,827
|
|
|
9,941
|
|
|
117
|
|
|
2018
|
|
1985
|
|
8200 Mentor Hills Drive
|
Mercerville, NJ
|
|
—
|
|
|
860
|
|
|
9,929
|
|
|
173
|
|
|
860
|
|
|
10,102
|
|
|
2,315
|
|
|
2011
|
|
1967
|
|
2240 White Horse- Merceville Road
|
Meriden, CT
|
|
—
|
|
|
1,300
|
|
|
1,472
|
|
|
233
|
|
|
1,300
|
|
|
1,705
|
|
|
736
|
|
|
2011
|
|
1968
|
|
845 Paddock Ave
|
Merrillville, IN
|
|
—
|
|
|
700
|
|
|
11,699
|
|
|
154
|
|
|
700
|
|
|
11,853
|
|
|
3,430
|
|
|
2007
|
|
2008
|
|
9509 Georgia St.
|
Mesa, AZ
|
|
—
|
|
|
950
|
|
|
9,087
|
|
|
1,971
|
|
|
950
|
|
|
11,058
|
|
|
5,022
|
|
|
1999
|
|
2000
|
|
7231 E. Broadway
|
Miamisburg, OH
|
|
—
|
|
|
786
|
|
|
3,233
|
|
|
—
|
|
|
786
|
|
|
3,233
|
|
|
54
|
|
|
2018
|
|
1983
|
|
450 Oak Ridge Boulevard
|
Middleburg Heights, OH
|
|
—
|
|
|
960
|
|
|
7,780
|
|
|
—
|
|
|
960
|
|
|
7,780
|
|
|
2,946
|
|
|
2004
|
|
1998
|
|
15435 Bagley Rd.
|
Middleton, WI
|
|
—
|
|
|
420
|
|
|
4,006
|
|
|
600
|
|
|
420
|
|
|
4,606
|
|
|
1,915
|
|
|
2001
|
|
1991
|
|
6701 Stonefield Rd.
|
Midland, MI
|
|
—
|
|
|
200
|
|
|
11,025
|
|
|
5,522
|
|
|
200
|
|
|
16,547
|
|
|
2,992
|
|
|
2010
|
|
1994
|
|
2325 Rockwell Dr
|
Milton Keynes, UK
|
|
—
|
|
|
1,826
|
|
|
18,654
|
|
|
692
|
|
|
1,888
|
|
|
19,284
|
|
|
1,913
|
|
|
2015
|
|
2007
|
|
Tunbridge Grove, Kents Hill
|
Mishawaka, IN
|
|
—
|
|
|
740
|
|
|
16,113
|
|
|
—
|
|
|
740
|
|
|
16,113
|
|
|
2,067
|
|
|
2014
|
|
2013
|
|
60257 Bodnar Blvd
|
Moline, IL
|
|
—
|
|
|
2,946
|
|
|
18,677
|
|
|
—
|
|
|
2,946
|
|
|
18,677
|
|
|
206
|
|
|
2018
|
|
1964
|
|
833 Sixteenth Avenue
|
Monmouth Junction, NJ
|
|
—
|
|
|
720
|
|
|
6,209
|
|
|
86
|
|
|
720
|
|
|
6,295
|
|
|
1,522
|
|
|
2011
|
|
1996
|
|
2 Deer Park Drive
|
Monroe, NC
|
|
—
|
|
|
470
|
|
|
3,681
|
|
|
648
|
|
|
470
|
|
|
4,329
|
|
|
1,850
|
|
|
2003
|
|
2001
|
|
918 Fitzgerald St.
|
Monroe, NC
|
|
—
|
|
|
310
|
|
|
4,799
|
|
|
857
|
|
|
310
|
|
|
5,656
|
|
|
2,316
|
|
|
2003
|
|
2000
|
|
919 Fitzgerald St.
|
Monroe, NC
|
|
—
|
|
|
450
|
|
|
4,021
|
|
|
114
|
|
|
450
|
|
|
4,135
|
|
|
1,764
|
|
|
2003
|
|
1997
|
|
1316 Patterson Ave.
|
Monroe Township, NJ
|
|
—
|
|
|
3,250
|
|
|
27,771
|
|
|
270
|
|
|
3,250
|
|
|
28,041
|
|
|
2,200
|
|
|
2015
|
|
1996
|
|
319 Forsgate Drive
|
Monroeville, PA
|
|
—
|
|
|
1,216
|
|
|
12,753
|
|
|
—
|
|
|
1,216
|
|
|
12,753
|
|
|
179
|
|
|
2018
|
|
1997
|
|
120 Wyngate Drive
|
Monroeville, PA
|
|
—
|
|
|
1,237
|
|
|
3,642
|
|
|
—
|
|
|
1,237
|
|
|
3,642
|
|
|
68
|
|
|
2018
|
|
1996
|
|
885 MacBeth Drive
|
Montgomeryville, PA
|
|
—
|
|
|
1,176
|
|
|
9,827
|
|
|
—
|
|
|
1,176
|
|
|
9,827
|
|
|
122
|
|
|
2018
|
|
1989
|
|
640 Bethlehem Pike
|
Montville, NJ
|
|
—
|
|
|
3,500
|
|
|
31,002
|
|
|
1,171
|
|
|
3,500
|
|
|
32,173
|
|
|
6,238
|
|
|
2011
|
|
1988
|
|
165 Changebridge Rd.
|
Moorestown, NJ
|
|
—
|
|
|
6,400
|
|
|
23,875
|
|
|
27
|
|
|
6,400
|
|
|
23,902
|
|
|
3,239
|
|
|
2012
|
|
2014
|
|
250 Marter Avenue
|
Morehead City, NC
|
|
—
|
|
|
200
|
|
|
3,104
|
|
|
1,648
|
|
|
200
|
|
|
4,752
|
|
|
2,260
|
|
|
1999
|
|
1999
|
|
107 Bryan St.
|
Morrison, CO
|
|
—
|
|
|
2,720
|
|
|
16,261
|
|
|
—
|
|
|
2,720
|
|
|
16,261
|
|
|
311
|
|
|
2018
|
|
1974
|
|
150 Spring Street
|
Morton Grove, IL
|
|
—
|
|
|
1,900
|
|
|
19,374
|
|
|
159
|
|
|
1,900
|
|
|
19,533
|
|
|
3,728
|
|
|
2010
|
|
2011
|
|
5520 N. Lincoln Ave.
|
Moulton, UK
|
|
—
|
|
|
1,695
|
|
|
12,510
|
|
|
997
|
|
|
1,597
|
|
|
13,605
|
|
|
568
|
|
|
2017
|
|
1995
|
|
Northampton Lane North
|
Mount Pleasant, SC
|
|
—
|
|
|
—
|
|
|
17,200
|
|
|
1
|
|
|
4,052
|
|
|
13,149
|
|
|
3,228
|
|
|
2013
|
|
1985
|
|
1200 Hospital Drive
|
Mountainside, NJ
|
|
—
|
|
|
3,097
|
|
|
7,810
|
|
|
—
|
|
|
3,097
|
|
|
7,810
|
|
|
93
|
|
|
2018
|
|
1988
|
|
1180 Route 22
|
Nacogdoches, TX
|
|
—
|
|
|
390
|
|
|
5,754
|
|
|
—
|
|
|
390
|
|
|
5,754
|
|
|
1,792
|
|
|
2006
|
|
2007
|
|
5902 North St
|
Naperville, IL
|
|
—
|
|
|
3,470
|
|
|
29,547
|
|
|
—
|
|
|
3,470
|
|
|
29,547
|
|
|
6,382
|
|
|
2011
|
|
2001
|
|
504 North River Road
|
Naples, FL
|
|
—
|
|
|
1,222
|
|
|
10,642
|
|
|
—
|
|
|
1,222
|
|
|
10,642
|
|
|
133
|
|
|
2018
|
|
1998
|
|
6125 Rattlesnake Hammock Road
|
Naples, FL
|
|
—
|
|
|
1,672
|
|
|
26,170
|
|
|
—
|
|
|
1,672
|
|
|
26,170
|
|
|
344
|
|
|
2018
|
|
1993
|
|
1000 Lely Palms Drive
|
Naples, FL
|
|
—
|
|
|
1,854
|
|
|
12,402
|
|
|
—
|
|
|
1,854
|
|
|
12,402
|
|
|
140
|
|
|
2018
|
|
1987
|
|
3601 Lakewood Boulevard
|
Nashville, TN
|
|
—
|
|
|
4,910
|
|
|
29,590
|
|
|
—
|
|
|
4,910
|
|
|
29,590
|
|
|
8,321
|
|
|
2008
|
|
2007
|
|
15 Burton Hills Boulevard
|
Naugatuck, CT
|
|
—
|
|
|
1,200
|
|
|
15,826
|
|
|
199
|
|
|
1,200
|
|
|
16,025
|
|
|
3,479
|
|
|
2011
|
|
1980
|
|
4 Hazel Avenue
|
Needham, MA
|
|
—
|
|
|
1,610
|
|
|
12,667
|
|
|
—
|
|
|
1,610
|
|
|
12,667
|
|
|
5,327
|
|
|
2002
|
|
1994
|
|
100 West St.
|
New Moston, UK
|
|
—
|
|
|
1,480
|
|
|
4,378
|
|
|
198
|
|
|
1,530
|
|
|
4,526
|
|
|
676
|
|
|
2013
|
|
2010
|
|
90a Broadway
|
Newcastle Under Lyme, UK
|
|
—
|
|
|
1,110
|
|
|
5,655
|
|
|
229
|
|
|
1,148
|
|
|
5,846
|
|
|
834
|
|
|
2013
|
|
2010
|
|
Hempstalls Lane
|
(Dollars in thousands)
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Triple-net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Newcastle-under-Lyme, UK
|
|
—
|
|
|
1,125
|
|
|
5,537
|
|
|
225
|
|
|
1,163
|
|
|
5,724
|
|
|
631
|
|
|
2014
|
|
1999
|
|
Silverdale Road
|
Newport News, VA
|
|
—
|
|
|
839
|
|
|
6,077
|
|
|
—
|
|
|
839
|
|
|
6,077
|
|
|
407
|
|
|
2018
|
|
1998
|
|
12997 Nettles Dr
|
Norman, OK
|
|
—
|
|
|
55
|
|
|
1,484
|
|
|
—
|
|
|
55
|
|
|
1,484
|
|
|
938
|
|
|
1995
|
|
1995
|
|
1701 Alameda Dr.
|
Norman, OK
|
|
—
|
|
|
1,480
|
|
|
33,330
|
|
|
—
|
|
|
1,480
|
|
|
33,330
|
|
|
5,571
|
|
|
2012
|
|
1985
|
|
800 Canadian Trails Drive
|
North Augusta, SC
|
|
—
|
|
|
332
|
|
|
2,558
|
|
|
—
|
|
|
332
|
|
|
2,558
|
|
|
1,348
|
|
|
1999
|
|
1998
|
|
105 North Hills Dr.
|
Northampton, UK
|
|
—
|
|
|
5,182
|
|
|
17,348
|
|
|
762
|
|
|
5,357
|
|
|
17,935
|
|
|
2,659
|
|
|
2013
|
|
2011
|
|
Cliftonville Road
|
Northampton, UK
|
|
—
|
|
|
2,013
|
|
|
6,257
|
|
|
280
|
|
|
2,081
|
|
|
6,469
|
|
|
674
|
|
|
2014
|
|
2014
|
|
Cliftonville Road
|
Northbrook, IL
|
|
—
|
|
|
1,298
|
|
|
13,341
|
|
|
—
|
|
|
1,298
|
|
|
13,341
|
|
|
154
|
|
|
2018
|
|
1999
|
|
3240 Milwaukee Avenue
|
Nuneaton, UK
|
|
—
|
|
|
3,325
|
|
|
8,983
|
|
|
415
|
|
|
3,437
|
|
|
9,286
|
|
|
1,326
|
|
|
2013
|
|
2011
|
|
132 Coventry Road
|
Nuthall, UK
|
|
—
|
|
|
1,628
|
|
|
6,263
|
|
|
268
|
|
|
1,684
|
|
|
6,475
|
|
|
661
|
|
|
2014
|
|
2014
|
|
172A Nottingham Road
|
Nuthall, UK
|
|
—
|
|
|
2,498
|
|
|
10,436
|
|
|
438
|
|
|
2,583
|
|
|
10,789
|
|
|
1,556
|
|
|
2013
|
|
2011
|
|
172 Nottingham Road
|
Oak Lawn, IL
|
|
—
|
|
|
2,418
|
|
|
5,428
|
|
|
—
|
|
|
2,418
|
|
|
5,428
|
|
|
62
|
|
|
2018
|
|
1977
|
|
9401 South Kostner Avenue
|
Oak Lawn, IL
|
|
—
|
|
|
3,876
|
|
|
7,988
|
|
|
—
|
|
|
3,876
|
|
|
7,988
|
|
|
95
|
|
|
2018
|
|
1960
|
|
6300 W 95th Street
|
Oakland, CA
|
|
—
|
|
|
4,760
|
|
|
16,143
|
|
|
109
|
|
|
4,760
|
|
|
16,252
|
|
|
1,936
|
|
|
2014
|
|
2002
|
|
468 Perkins Street
|
Ocala, FL
|
|
—
|
|
|
1,340
|
|
|
10,564
|
|
|
—
|
|
|
1,340
|
|
|
10,564
|
|
|
2,767
|
|
|
2008
|
|
2009
|
|
2650 SE 18TH Avenue
|
Ogden, UT
|
|
—
|
|
|
384
|
|
|
2,228
|
|
|
—
|
|
|
384
|
|
|
2,228
|
|
|
310
|
|
|
2018
|
|
1987
|
|
400 East 5350 South
|
Oklahoma City, OK
|
|
—
|
|
|
590
|
|
|
7,513
|
|
|
—
|
|
|
590
|
|
|
7,513
|
|
|
2,175
|
|
|
2007
|
|
2008
|
|
13200 S. May Ave
|
Oklahoma City, OK
|
|
—
|
|
|
760
|
|
|
7,017
|
|
|
—
|
|
|
760
|
|
|
7,017
|
|
|
1,993
|
|
|
2007
|
|
2009
|
|
11320 N. Council Road
|
Olathe, KS
|
|
—
|
|
|
1,930
|
|
|
19,765
|
|
|
553
|
|
|
1,930
|
|
|
20,318
|
|
|
1,758
|
|
|
2016
|
|
2015
|
|
21250 W 151 Street
|
Omaha, NE
|
|
—
|
|
|
370
|
|
|
10,230
|
|
|
—
|
|
|
370
|
|
|
10,230
|
|
|
2,369
|
|
|
2010
|
|
1998
|
|
11909 Miracle Hills Dr.
|
Omaha, NE
|
|
—
|
|
|
380
|
|
|
8,769
|
|
|
—
|
|
|
380
|
|
|
8,769
|
|
|
2,144
|
|
|
2010
|
|
1999
|
|
5728 South 108th St.
|
Ona, WV
|
|
—
|
|
|
950
|
|
|
15,998
|
|
|
222
|
|
|
950
|
|
|
16,220
|
|
|
1,400
|
|
|
2015
|
|
2007
|
|
100 Weatherholt Drive
|
Oneonta, NY
|
|
—
|
|
|
80
|
|
|
5,020
|
|
|
—
|
|
|
80
|
|
|
5,020
|
|
|
1,442
|
|
|
2007
|
|
1996
|
|
1846 County Highway 48
|
Orange Park, FL
|
|
—
|
|
|
2,201
|
|
|
4,018
|
|
|
—
|
|
|
2,201
|
|
|
4,018
|
|
|
64
|
|
|
2018
|
|
1990
|
|
570 Wells Road
|
Orem, UT
|
|
—
|
|
|
2,150
|
|
|
24,107
|
|
|
—
|
|
|
2,150
|
|
|
24,107
|
|
|
2,021
|
|
|
2015
|
|
2014
|
|
250 East Center Street
|
Osage City, KS
|
|
—
|
|
|
50
|
|
|
1,700
|
|
|
142
|
|
|
50
|
|
|
1,842
|
|
|
183
|
|
|
2015
|
|
1996
|
|
1403 Laing St
|
Osawatomie, KS
|
|
—
|
|
|
130
|
|
|
2,970
|
|
|
136
|
|
|
130
|
|
|
3,106
|
|
|
283
|
|
|
2015
|
|
2003
|
|
1520 Parker Ave
|
Ottawa, KS
|
|
—
|
|
|
160
|
|
|
6,590
|
|
|
44
|
|
|
160
|
|
|
6,634
|
|
|
556
|
|
|
2015
|
|
2007
|
|
2250 S Elm St
|
Overland Park, KS
|
|
—
|
|
|
4,500
|
|
|
29,105
|
|
|
38,441
|
|
|
8,230
|
|
|
63,816
|
|
|
15,377
|
|
|
2010
|
|
1988
|
|
6101 W 119th St
|
Overland Park, KS
|
|
—
|
|
|
1,540
|
|
|
16,269
|
|
|
943
|
|
|
1,670
|
|
|
17,082
|
|
|
3,342
|
|
|
2012
|
|
1998
|
|
9201 Foster
|
Overland Park, KS
|
|
—
|
|
|
410
|
|
|
2,840
|
|
|
92
|
|
|
410
|
|
|
2,932
|
|
|
279
|
|
|
2015
|
|
2004
|
|
14430 Metcalf Ave
|
Overland Park, KS
|
|
—
|
|
|
1,300
|
|
|
25,311
|
|
|
677
|
|
|
1,300
|
|
|
25,988
|
|
|
2,229
|
|
|
2016
|
|
2015
|
|
7600 Antioch Road
|
Owasso, OK
|
|
—
|
|
|
215
|
|
|
1,380
|
|
|
—
|
|
|
215
|
|
|
1,380
|
|
|
801
|
|
|
1996
|
|
1996
|
|
12807 E. 86th Place N.
|
Owensboro, KY
|
|
—
|
|
|
225
|
|
|
13,275
|
|
|
—
|
|
|
225
|
|
|
13,275
|
|
|
5,120
|
|
|
2005
|
|
1964
|
|
1205 Leitchfield Rd.
|
Owenton, KY
|
|
—
|
|
|
100
|
|
|
2,400
|
|
|
—
|
|
|
100
|
|
|
2,400
|
|
|
1,108
|
|
|
2005
|
|
1979
|
|
905 Hwy. 127 N.
|
Oxford, MI
|
|
—
|
|
|
1,430
|
|
|
15,791
|
|
|
—
|
|
|
1,430
|
|
|
15,791
|
|
|
3,625
|
|
|
2010
|
|
2001
|
|
701 Market St
|
Palestine, TX
|
|
—
|
|
|
180
|
|
|
4,320
|
|
|
1,300
|
|
|
180
|
|
|
5,620
|
|
|
1,814
|
|
|
2006
|
|
2005
|
|
1625 W. Spring St.
|
Palm Beach Gardens, FL
|
|
—
|
|
|
2,082
|
|
|
6,624
|
|
|
—
|
|
|
2,082
|
|
|
6,624
|
|
|
87
|
|
|
2018
|
|
1991
|
|
11375 Prosperity Farms Road
|
Palm Coast, FL
|
|
—
|
|
|
870
|
|
|
10,957
|
|
|
—
|
|
|
870
|
|
|
10,957
|
|
|
2,730
|
|
|
2008
|
|
2010
|
|
50 Town Ct.
|
Palm Desert, CA
|
|
—
|
|
|
6,195
|
|
|
8,922
|
|
|
—
|
|
|
6,195
|
|
|
8,922
|
|
|
107
|
|
|
2018
|
|
1989
|
|
74350 Country Club Drive
|
Palm Harbor, FL
|
|
—
|
|
|
1,306
|
|
|
13,811
|
|
|
—
|
|
|
1,306
|
|
|
13,811
|
|
|
171
|
|
|
2018
|
|
1997
|
|
2895 Tampa Road
|
Palm Harbor, FL
|
|
—
|
|
|
3,281
|
|
|
22,457
|
|
|
—
|
|
|
3,281
|
|
|
22,457
|
|
|
273
|
|
|
2018
|
|
1990
|
|
2851 Tampa Road
|
Palos Heights, IL
|
|
—
|
|
|
1,225
|
|
|
12,457
|
|
|
—
|
|
|
1,225
|
|
|
12,457
|
|
|
141
|
|
|
2018
|
|
1999
|
|
7880 West College Drive
|
Palos Heights, IL
|
|
—
|
|
|
3,431
|
|
|
28,812
|
|
|
—
|
|
|
3,431
|
|
|
28,812
|
|
|
316
|
|
|
2018
|
|
1987
|
|
7850 West College Drive
|
Palos Heights, IL
|
|
—
|
|
|
2,590
|
|
|
7,647
|
|
|
—
|
|
|
2,590
|
|
|
7,647
|
|
|
87
|
|
|
2018
|
|
1996
|
|
11860 Southwest Hwy
|
(Dollars in thousands)
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Triple-net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Panama City Beach, FL
|
|
—
|
|
|
900
|
|
|
6,402
|
|
|
620
|
|
|
900
|
|
|
7,022
|
|
|
1,161
|
|
|
2011
|
|
2005
|
|
6012 Magnolia Beach Road
|
Paola, KS
|
|
—
|
|
|
190
|
|
|
5,610
|
|
|
59
|
|
|
190
|
|
|
5,669
|
|
|
483
|
|
|
2015
|
|
2000
|
|
601 N. East Street
|
Paris, TX
|
|
—
|
|
|
490
|
|
|
5,452
|
|
|
—
|
|
|
490
|
|
|
5,452
|
|
|
4,421
|
|
|
2005
|
|
2006
|
|
750 N Collegiate Dr
|
Parma, OH
|
|
—
|
|
|
960
|
|
|
12,722
|
|
|
—
|
|
|
960
|
|
|
12,722
|
|
|
155
|
|
|
2018
|
|
1998
|
|
9205 Sprague Road
|
Parma, OH
|
|
—
|
|
|
1,833
|
|
|
10,318
|
|
|
—
|
|
|
1,833
|
|
|
10,318
|
|
|
141
|
|
|
2018
|
|
2006
|
|
9055 West Sprague Road
|
Paulsboro, NJ
|
|
—
|
|
|
3,264
|
|
|
8,026
|
|
|
—
|
|
|
3,264
|
|
|
8,026
|
|
|
99
|
|
|
2018
|
|
1987
|
|
550 Jessup Road
|
Pella, IA
|
|
—
|
|
|
870
|
|
|
6,716
|
|
|
89
|
|
|
870
|
|
|
6,805
|
|
|
1,135
|
|
|
2012
|
|
2002
|
|
2602 Fifield Road
|
Perrysburg, OH
|
|
—
|
|
|
1,456
|
|
|
5,433
|
|
|
—
|
|
|
1,456
|
|
|
5,433
|
|
|
68
|
|
|
2018
|
|
1973
|
|
10540 Fremont Pike
|
Perrysburg, OH
|
|
—
|
|
|
1,213
|
|
|
7,110
|
|
|
—
|
|
|
1,213
|
|
|
7,110
|
|
|
82
|
|
|
2018
|
|
1978
|
|
10542 Fremont Pike
|
Petoskey, MI
|
|
—
|
|
|
860
|
|
|
14,452
|
|
|
—
|
|
|
860
|
|
|
14,452
|
|
|
3,152
|
|
|
2011
|
|
1997
|
|
965 Hager Dr
|
Philadelphia, PA
|
|
—
|
|
|
2,930
|
|
|
10,433
|
|
|
3,536
|
|
|
2,930
|
|
|
13,969
|
|
|
3,206
|
|
|
2011
|
|
1952
|
|
1526 Lombard Street
|
Phillipsburg, NJ
|
|
—
|
|
|
800
|
|
|
21,175
|
|
|
238
|
|
|
800
|
|
|
21,413
|
|
|
4,650
|
|
|
2011
|
|
1992
|
|
290 Red School Lane
|
Phillipsburg, NJ
|
|
—
|
|
|
300
|
|
|
8,114
|
|
|
101
|
|
|
300
|
|
|
8,215
|
|
|
1,780
|
|
|
2011
|
|
1905
|
|
843 Wilbur Avenue
|
Pikesville, MD
|
|
—
|
|
|
—
|
|
|
2,488
|
|
|
—
|
|
|
—
|
|
|
2,488
|
|
|
27
|
|
|
2018
|
|
1998
|
|
8911 Reisterstown Road
|
Pikesville, MD
|
|
—
|
|
|
4,247
|
|
|
8,383
|
|
|
—
|
|
|
4,247
|
|
|
8,383
|
|
|
108
|
|
|
2018
|
|
1996
|
|
8909 Reisterstown Road
|
Pinehurst, NC
|
|
—
|
|
|
290
|
|
|
2,690
|
|
|
484
|
|
|
290
|
|
|
3,174
|
|
|
1,392
|
|
|
2003
|
|
1998
|
|
17 Regional Dr.
|
Piqua, OH
|
|
—
|
|
|
204
|
|
|
1,885
|
|
|
—
|
|
|
204
|
|
|
1,885
|
|
|
1,024
|
|
|
1997
|
|
1997
|
|
1744 W. High St.
|
Piscataway, NJ
|
|
—
|
|
|
3,100
|
|
|
33,501
|
|
|
—
|
|
|
3,100
|
|
|
33,501
|
|
|
1,423
|
|
|
2013
|
|
2017
|
|
10 Sterling Drive
|
Pittsburgh, PA
|
|
—
|
|
|
603
|
|
|
11,357
|
|
|
—
|
|
|
603
|
|
|
11,357
|
|
|
137
|
|
|
2018
|
|
1998
|
|
1125 Perry Highway
|
Pittsburgh, PA
|
|
—
|
|
|
1,005
|
|
|
15,164
|
|
|
—
|
|
|
1,005
|
|
|
15,164
|
|
|
177
|
|
|
2018
|
|
1997
|
|
505 Weyman Road
|
Pittsburgh, PA
|
|
—
|
|
|
1,140
|
|
|
3,166
|
|
|
—
|
|
|
1,140
|
|
|
3,166
|
|
|
37
|
|
|
2018
|
|
1962
|
|
550 South Negley Avenue
|
Pittsburgh, PA
|
|
—
|
|
|
994
|
|
|
3,790
|
|
|
—
|
|
|
994
|
|
|
3,790
|
|
|
63
|
|
|
2018
|
|
1986
|
|
2170 Rhine Street
|
Pittsburgh, PA
|
|
—
|
|
|
761
|
|
|
4,214
|
|
|
—
|
|
|
761
|
|
|
4,214
|
|
|
47
|
|
|
2018
|
|
1965
|
|
5609 Fifth Avenue
|
Pittsburgh, PA
|
|
—
|
|
|
1,480
|
|
|
9,715
|
|
|
—
|
|
|
1,480
|
|
|
9,715
|
|
|
128
|
|
|
2018
|
|
1986
|
|
1105 Perry Highway
|
Pittsburgh, PA
|
|
—
|
|
|
1,139
|
|
|
5,846
|
|
|
—
|
|
|
1,139
|
|
|
5,846
|
|
|
75
|
|
|
2018
|
|
1986
|
|
1848 Greentree Road
|
Pittsburgh, PA
|
|
—
|
|
|
1,750
|
|
|
8,572
|
|
|
6,322
|
|
|
1,750
|
|
|
14,894
|
|
|
3,340
|
|
|
2005
|
|
1998
|
|
100 Knoedler Rd.
|
Plainview, NY
|
|
—
|
|
|
3,990
|
|
|
11,969
|
|
|
1,186
|
|
|
3,990
|
|
|
13,155
|
|
|
2,774
|
|
|
2011
|
|
1963
|
|
150 Sunnyside Blvd
|
Plano, TX
|
|
—
|
|
|
1,840
|
|
|
20,152
|
|
|
560
|
|
|
1,840
|
|
|
20,712
|
|
|
1,579
|
|
|
2016
|
|
2016
|
|
3325 W Plano Parkway
|
Plattsmouth, NE
|
|
—
|
|
|
250
|
|
|
5,650
|
|
|
—
|
|
|
250
|
|
|
5,650
|
|
|
1,377
|
|
|
2010
|
|
1999
|
|
1913 E. Highway 34
|
Plymouth, MI
|
|
—
|
|
|
1,490
|
|
|
19,990
|
|
|
330
|
|
|
1,490
|
|
|
20,320
|
|
|
4,431
|
|
|
2010
|
|
1972
|
|
14707 Northville Rd
|
Potomac, MD
|
|
—
|
|
|
1,448
|
|
|
14,626
|
|
|
—
|
|
|
1,448
|
|
|
14,626
|
|
|
167
|
|
|
2018
|
|
1994
|
|
10718 Potomac Tennis Lane
|
Potomac, MD
|
|
—
|
|
|
4,119
|
|
|
14,921
|
|
|
—
|
|
|
4,119
|
|
|
14,921
|
|
|
176
|
|
|
2018
|
|
1988
|
|
10714 Potomac Tennis Lane
|
Pottstown, PA
|
|
—
|
|
|
984
|
|
|
4,565
|
|
|
—
|
|
|
984
|
|
|
4,565
|
|
|
58
|
|
|
2018
|
|
1907
|
|
724 North Charlotte Street
|
Pottsville, PA
|
|
—
|
|
|
171
|
|
|
3,560
|
|
|
—
|
|
|
171
|
|
|
3,560
|
|
|
42
|
|
|
2018
|
|
1976
|
|
420 Pulaski Drive
|
Prior Lake, MN
|
|
13,806
|
|
|
1,870
|
|
|
29,849
|
|
|
300
|
|
|
1,870
|
|
|
30,149
|
|
|
2,435
|
|
|
2015
|
|
2003
|
|
4685 Park Nicollet Avenue
|
Puyallup, WA
|
|
—
|
|
|
1,150
|
|
|
20,776
|
|
|
505
|
|
|
1,156
|
|
|
21,275
|
|
|
5,775
|
|
|
2010
|
|
1985
|
|
123 Fourth Ave. NW
|
Raleigh, NC
|
|
—
|
|
|
7,598
|
|
|
88,870
|
|
|
—
|
|
|
7,598
|
|
|
88,870
|
|
|
4,212
|
|
|
2008
|
|
2017
|
|
4030 Cardinal at North Hills St
|
Raleigh, NC
|
|
—
|
|
|
3,530
|
|
|
59,589
|
|
|
—
|
|
|
3,530
|
|
|
59,589
|
|
|
9,825
|
|
|
2012
|
|
2002
|
|
5301 Creedmoor Road
|
Raleigh, NC
|
|
—
|
|
|
2,580
|
|
|
16,837
|
|
|
—
|
|
|
2,580
|
|
|
16,837
|
|
|
2,965
|
|
|
2012
|
|
1988
|
|
7900 Creedmoor Road
|
Reading, PA
|
|
—
|
|
|
980
|
|
|
19,906
|
|
|
140
|
|
|
980
|
|
|
20,046
|
|
|
4,293
|
|
|
2011
|
|
1994
|
|
5501 Perkiomen Ave
|
Red Bank, NJ
|
|
—
|
|
|
1,050
|
|
|
21,275
|
|
|
586
|
|
|
1,050
|
|
|
21,861
|
|
|
4,176
|
|
|
2011
|
|
1997
|
|
One Hartford Dr.
|
Reidsville, NC
|
|
—
|
|
|
170
|
|
|
3,830
|
|
|
857
|
|
|
170
|
|
|
4,687
|
|
|
2,045
|
|
|
2002
|
|
1998
|
|
2931 Vance St.
|
Reno, NV
|
|
—
|
|
|
1,060
|
|
|
11,440
|
|
|
659
|
|
|
1,060
|
|
|
12,099
|
|
|
4,440
|
|
|
2004
|
|
1998
|
|
5165 Summit Ridge Road
|
Rexburg, ID
|
|
—
|
|
|
1,267
|
|
|
3,213
|
|
|
—
|
|
|
1,267
|
|
|
3,213
|
|
|
383
|
|
|
2018
|
|
1988
|
|
660 South 2nd West
|
Richardson, TX
|
|
—
|
|
|
1,468
|
|
|
12,979
|
|
|
—
|
|
|
1,468
|
|
|
12,979
|
|
|
154
|
|
|
2018
|
|
1999
|
|
410 Buckingham Road
|
(Dollars in thousands)
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Triple-net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Richmond, IN
|
|
—
|
|
|
700
|
|
|
14,222
|
|
|
393
|
|
|
700
|
|
|
14,615
|
|
|
1,256
|
|
|
2016
|
|
2015
|
|
400 Industries Road
|
Richmond, VA
|
|
—
|
|
|
—
|
|
|
12,000
|
|
|
—
|
|
|
250
|
|
|
11,750
|
|
|
2,018
|
|
|
2013
|
|
1989
|
|
2220 Edward Holland Drive
|
Richmond, VA
|
|
—
|
|
|
3,261
|
|
|
17,980
|
|
|
—
|
|
|
3,261
|
|
|
17,980
|
|
|
203
|
|
|
2018
|
|
1990
|
|
1719 Bellevue Avenue
|
Richmond, VA
|
|
—
|
|
|
1,046
|
|
|
8,235
|
|
|
—
|
|
|
1,046
|
|
|
8,235
|
|
|
100
|
|
|
2018
|
|
1966
|
|
2125 Hilliard Road
|
Ridgeland, MS
|
|
—
|
|
|
520
|
|
|
7,675
|
|
|
437
|
|
|
520
|
|
|
8,112
|
|
|
3,162
|
|
|
2003
|
|
1997
|
|
410 Orchard Park
|
Roanoke, VA
|
|
—
|
|
|
748
|
|
|
4,483
|
|
|
—
|
|
|
748
|
|
|
4,483
|
|
|
435
|
|
|
2018
|
|
1997
|
|
4355 Pheasant Ridge Rd
|
Rochdale, MA
|
|
—
|
|
|
—
|
|
|
7,100
|
|
|
—
|
|
|
690
|
|
|
6,410
|
|
|
1,039
|
|
|
2013
|
|
1994
|
|
111 Huntoon Memorial Highway
|
Rockville Centre, NY
|
|
—
|
|
|
4,290
|
|
|
20,310
|
|
|
932
|
|
|
4,290
|
|
|
21,242
|
|
|
4,259
|
|
|
2011
|
|
2002
|
|
260 Maple Ave
|
Rockwall, TX
|
|
—
|
|
|
2,220
|
|
|
17,650
|
|
|
—
|
|
|
2,220
|
|
|
17,650
|
|
|
1,590
|
|
|
2012
|
|
2014
|
|
720 E Ralph Hall Parkway
|
Romeoville, IL
|
|
—
|
|
|
1,895
|
|
|
—
|
|
|
—
|
|
|
1,895
|
|
|
—
|
|
|
—
|
|
|
2006
|
|
1900
|
|
Grand Haven Circle
|
Roseville, MN
|
|
—
|
|
|
2,140
|
|
|
24,679
|
|
|
100
|
|
|
2,140
|
|
|
24,779
|
|
|
2,037
|
|
|
2015
|
|
1989
|
|
2750 North Victoria Street
|
Roswell, GA
|
|
—
|
|
|
1,107
|
|
|
9,627
|
|
|
1,127
|
|
|
1,114
|
|
|
10,747
|
|
|
8,139
|
|
|
1997
|
|
1999
|
|
655 Mansell Rd.
|
Roswell, GA
|
|
—
|
|
|
2,080
|
|
|
6,486
|
|
|
1,130
|
|
|
2,380
|
|
|
7,316
|
|
|
1,645
|
|
|
2012
|
|
1997
|
|
75 Magnolia Street
|
Rugeley, UK
|
|
—
|
|
|
1,900
|
|
|
10,262
|
|
|
411
|
|
|
1,964
|
|
|
10,609
|
|
|
1,603
|
|
|
2013
|
|
2010
|
|
Horse Fair
|
Ruston, LA
|
|
—
|
|
|
710
|
|
|
9,790
|
|
|
—
|
|
|
710
|
|
|
9,790
|
|
|
2,133
|
|
|
2011
|
|
1988
|
|
1401 Ezelle St
|
S Holland, IL
|
|
—
|
|
|
1,423
|
|
|
8,910
|
|
|
—
|
|
|
1,423
|
|
|
8,910
|
|
|
108
|
|
|
2018
|
|
1997
|
|
2045 East 170th Street
|
Salem, OR
|
|
—
|
|
|
449
|
|
|
5,171
|
|
|
1
|
|
|
449
|
|
|
5,172
|
|
|
2,706
|
|
|
1999
|
|
1998
|
|
1355 Boone Rd. S.E.
|
Salisbury, NC
|
|
—
|
|
|
370
|
|
|
5,697
|
|
|
168
|
|
|
370
|
|
|
5,865
|
|
|
2,422
|
|
|
2003
|
|
1997
|
|
2201 Statesville Blvd.
|
San Angelo, TX
|
|
—
|
|
|
1,050
|
|
|
24,689
|
|
|
1,221
|
|
|
1,050
|
|
|
25,910
|
|
|
3,073
|
|
|
2014
|
|
1999
|
|
6101 Grand Court Road
|
San Antonio, TX
|
|
—
|
|
|
1,499
|
|
|
12,662
|
|
|
—
|
|
|
1,499
|
|
|
12,662
|
|
|
149
|
|
|
2018
|
|
2000
|
|
15290 Huebner Road
|
San Antonio, TX
|
|
—
|
|
|
—
|
|
|
17,303
|
|
|
—
|
|
|
—
|
|
|
17,303
|
|
|
7,781
|
|
|
2007
|
|
2007
|
|
8902 Floyd Curl Dr.
|
San Bernardino, CA
|
|
—
|
|
|
3,700
|
|
|
14,300
|
|
|
687
|
|
|
3,700
|
|
|
14,987
|
|
|
3,865
|
|
|
2008
|
|
1993
|
|
1760 W. 16th St.
|
San Diego, CA
|
|
—
|
|
|
—
|
|
|
22,003
|
|
|
1,845
|
|
|
—
|
|
|
23,848
|
|
|
6,068
|
|
|
2008
|
|
1992
|
|
555 Washington St.
|
Sand Springs, OK
|
|
—
|
|
|
910
|
|
|
19,654
|
|
|
—
|
|
|
910
|
|
|
19,654
|
|
|
3,346
|
|
|
2012
|
|
2002
|
|
4402 South 129th Avenue West
|
Sarasota, FL
|
|
—
|
|
|
475
|
|
|
3,175
|
|
|
—
|
|
|
475
|
|
|
3,175
|
|
|
1,917
|
|
|
1996
|
|
1995
|
|
8450 McIntosh Rd.
|
Sarasota, FL
|
|
—
|
|
|
4,101
|
|
|
11,208
|
|
|
—
|
|
|
4,101
|
|
|
11,208
|
|
|
212
|
|
|
2018
|
|
1993
|
|
5401 Sawyer Road
|
Sarasota, FL
|
|
—
|
|
|
1,370
|
|
|
4,084
|
|
|
—
|
|
|
1,370
|
|
|
4,084
|
|
|
49
|
|
|
2018
|
|
1968
|
|
3250 12th Street
|
Sarasota, FL
|
|
—
|
|
|
2,792
|
|
|
11,177
|
|
|
—
|
|
|
2,792
|
|
|
11,177
|
|
|
131
|
|
|
2018
|
|
1993
|
|
5511 Swift Road
|
Sarasota, FL
|
|
—
|
|
|
3,360
|
|
|
19,140
|
|
|
—
|
|
|
3,360
|
|
|
19,140
|
|
|
3,681
|
|
|
2011
|
|
2006
|
|
6150 Edgelake Drive
|
Sarasota, FL
|
|
—
|
|
|
443
|
|
|
9,699
|
|
|
—
|
|
|
443
|
|
|
9,699
|
|
|
120
|
|
|
2018
|
|
1998
|
|
5509 Swift Road
|
Scranton, PA
|
|
—
|
|
|
440
|
|
|
17,609
|
|
|
—
|
|
|
440
|
|
|
17,609
|
|
|
2,032
|
|
|
2014
|
|
2005
|
|
2741 Blvd. Ave
|
Scranton, PA
|
|
—
|
|
|
320
|
|
|
12,144
|
|
|
1
|
|
|
320
|
|
|
12,145
|
|
|
1,400
|
|
|
2014
|
|
2013
|
|
2751 Boulevard Ave
|
Seminole, FL
|
|
—
|
|
|
1,165
|
|
|
8,977
|
|
|
—
|
|
|
1,165
|
|
|
8,977
|
|
|
113
|
|
|
2018
|
|
1998
|
|
9300 Antilles Drive
|
Seven Fields, PA
|
|
—
|
|
|
484
|
|
|
4,663
|
|
|
59
|
|
|
484
|
|
|
4,722
|
|
|
2,475
|
|
|
1999
|
|
1999
|
|
500 Seven Fields Blvd.
|
Severna Park, MD
|
|
—
|
|
|
2,120
|
|
|
31,273
|
|
|
808
|
|
|
2,120
|
|
|
32,081
|
|
|
6,616
|
|
|
2011
|
|
1981
|
|
24 Truckhouse Road
|
Sewell, NJ
|
|
—
|
|
|
3,127
|
|
|
14,095
|
|
|
—
|
|
|
3,127
|
|
|
14,095
|
|
|
188
|
|
|
2018
|
|
2010
|
|
378 Fries Mill Road
|
Shawnee, OK
|
|
—
|
|
|
80
|
|
|
1,400
|
|
|
—
|
|
|
80
|
|
|
1,400
|
|
|
837
|
|
|
1996
|
|
1995
|
|
3947 Kickapoo
|
Shelbyville, KY
|
|
—
|
|
|
630
|
|
|
3,870
|
|
|
630
|
|
|
630
|
|
|
4,500
|
|
|
1,579
|
|
|
2005
|
|
1965
|
|
1871 Midland Trail
|
Sherman, TX
|
|
—
|
|
|
700
|
|
|
5,221
|
|
|
—
|
|
|
700
|
|
|
5,221
|
|
|
1,696
|
|
|
2005
|
|
2006
|
|
1011 E. Pecan Grove Rd.
|
Silver Spring, MD
|
|
—
|
|
|
1,469
|
|
|
10,395
|
|
|
—
|
|
|
1,469
|
|
|
10,395
|
|
|
122
|
|
|
2018
|
|
1995
|
|
2505 Musgrove Road
|
Silver Spring, MD
|
|
—
|
|
|
4,678
|
|
|
11,683
|
|
|
—
|
|
|
4,678
|
|
|
11,683
|
|
|
146
|
|
|
2018
|
|
1990
|
|
2501 Musgrove Road
|
Silvis, IL
|
|
—
|
|
|
880
|
|
|
16,420
|
|
|
139
|
|
|
880
|
|
|
16,559
|
|
|
3,691
|
|
|
2010
|
|
2005
|
|
1900 10th St.
|
Sinking Spring, PA
|
|
—
|
|
|
1,393
|
|
|
19,848
|
|
|
—
|
|
|
1,393
|
|
|
19,848
|
|
|
231
|
|
|
2018
|
|
1982
|
|
3000 Windmill Road
|
Sittingbourne, UK
|
|
—
|
|
|
1,357
|
|
|
6,539
|
|
|
267
|
|
|
1,403
|
|
|
6,760
|
|
|
715
|
|
|
2014
|
|
1997
|
|
200 London Road
|
Smithfield, NC
|
|
—
|
|
|
290
|
|
|
5,680
|
|
|
—
|
|
|
290
|
|
|
5,680
|
|
|
2,363
|
|
|
2003
|
|
1998
|
|
830 Berkshire Rd.
|
(Dollars in thousands)
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Triple-net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Smithfield, NC
|
|
—
|
|
|
360
|
|
|
8,216
|
|
|
—
|
|
|
360
|
|
|
8,216
|
|
|
946
|
|
|
2014
|
|
1999
|
|
250 Highway 210 West
|
South Bend, IN
|
|
—
|
|
|
670
|
|
|
17,770
|
|
|
—
|
|
|
670
|
|
|
17,770
|
|
|
2,128
|
|
|
2014
|
|
2014
|
|
52565 State Road 933
|
South Point, OH
|
|
—
|
|
|
1,135
|
|
|
9,390
|
|
|
—
|
|
|
1,135
|
|
|
9,390
|
|
|
109
|
|
|
2018
|
|
1984
|
|
7743 County Road 1
|
Southampton, UK
|
|
—
|
|
|
1,519
|
|
|
16,041
|
|
|
—
|
|
|
1,519
|
|
|
16,041
|
|
|
541
|
|
|
2017
|
|
2013
|
|
Botley Road, Park Gate
|
Southbury, CT
|
|
—
|
|
|
1,860
|
|
|
23,613
|
|
|
958
|
|
|
1,860
|
|
|
24,571
|
|
|
4,939
|
|
|
2011
|
|
2001
|
|
655 Main St
|
Spokane, WA
|
|
—
|
|
|
3,200
|
|
|
25,064
|
|
|
284
|
|
|
3,200
|
|
|
25,348
|
|
|
6,895
|
|
|
2013
|
|
2001
|
|
3117 E. Chaser Lane
|
Spokane, WA
|
|
—
|
|
|
2,580
|
|
|
25,342
|
|
|
195
|
|
|
2,580
|
|
|
25,537
|
|
|
5,958
|
|
|
2013
|
|
1999
|
|
1110 E. Westview Ct.
|
Spokane, WA
|
|
—
|
|
|
2,649
|
|
|
11,703
|
|
|
—
|
|
|
2,649
|
|
|
11,703
|
|
|
138
|
|
|
2018
|
|
1985
|
|
6025 North Assembly Street
|
Springfield, IL
|
|
—
|
|
|
—
|
|
|
10,100
|
|
|
—
|
|
|
768
|
|
|
9,332
|
|
|
2,107
|
|
|
2013
|
|
2010
|
|
701 North Walnut Street
|
Springfield, IL
|
|
—
|
|
|
990
|
|
|
13,378
|
|
|
1,085
|
|
|
990
|
|
|
14,463
|
|
|
1,707
|
|
|
2014
|
|
2013
|
|
3089 Old Jacksonville Road
|
St. Louis, MO
|
|
—
|
|
|
1,890
|
|
|
12,390
|
|
|
787
|
|
|
1,890
|
|
|
13,177
|
|
|
2,691
|
|
|
2010
|
|
1963
|
|
6543 Chippewa St
|
St. Paul, MN
|
|
—
|
|
|
2,100
|
|
|
33,019
|
|
|
100
|
|
|
2,100
|
|
|
33,119
|
|
|
2,698
|
|
|
2015
|
|
1996
|
|
750 Mississippi River
|
Stafford, UK
|
|
—
|
|
|
2,009
|
|
|
8,238
|
|
|
—
|
|
|
2,009
|
|
|
8,238
|
|
|
499
|
|
|
2014
|
|
2016
|
|
Stone Road
|
Stamford, UK
|
|
—
|
|
|
1,820
|
|
|
3,238
|
|
|
171
|
|
|
1,881
|
|
|
3,348
|
|
|
378
|
|
|
2014
|
|
1998
|
|
Priory Road
|
Statesville, NC
|
|
—
|
|
|
150
|
|
|
1,447
|
|
|
266
|
|
|
150
|
|
|
1,713
|
|
|
749
|
|
|
2003
|
|
1990
|
|
2441 E. Broad St.
|
Statesville, NC
|
|
—
|
|
|
310
|
|
|
6,183
|
|
|
8
|
|
|
310
|
|
|
6,191
|
|
|
2,514
|
|
|
2003
|
|
1996
|
|
2806 Peachtree Place
|
Statesville, NC
|
|
—
|
|
|
140
|
|
|
3,627
|
|
|
—
|
|
|
140
|
|
|
3,627
|
|
|
1,503
|
|
|
2003
|
|
1999
|
|
2814 Peachtree Rd.
|
Staunton, VA
|
|
—
|
|
|
899
|
|
|
6,391
|
|
|
—
|
|
|
899
|
|
|
6,391
|
|
|
432
|
|
|
2018
|
|
1999
|
|
1410 N Augusta St
|
Sterling Heights, MI
|
|
—
|
|
|
790
|
|
|
10,787
|
|
|
—
|
|
|
790
|
|
|
10,787
|
|
|
128
|
|
|
2018
|
|
1996
|
|
11095 East Fourteen Mile Road
|
Sterling Heights, MI
|
|
—
|
|
|
1,583
|
|
|
15,639
|
|
|
—
|
|
|
1,583
|
|
|
15,639
|
|
|
188
|
|
|
2018
|
|
2013
|
|
38200 Schoenherr Road
|
Stillwater, OK
|
|
—
|
|
|
80
|
|
|
1,400
|
|
|
—
|
|
|
80
|
|
|
1,400
|
|
|
839
|
|
|
1995
|
|
1995
|
|
1616 McElroy Rd.
|
Stratford-upon-Avon, UK
|
|
—
|
|
|
790
|
|
|
14,508
|
|
|
517
|
|
|
816
|
|
|
14,999
|
|
|
1,443
|
|
|
2015
|
|
2012
|
|
Scholars Lane
|
Stroudsburg, PA
|
|
—
|
|
|
340
|
|
|
16,313
|
|
|
—
|
|
|
340
|
|
|
16,313
|
|
|
2,096
|
|
|
2014
|
|
2011
|
|
370 Whitestone Corner Road
|
Summit, NJ
|
|
—
|
|
|
3,080
|
|
|
14,152
|
|
|
—
|
|
|
3,080
|
|
|
14,152
|
|
|
3,027
|
|
|
2011
|
|
2001
|
|
41 Springfield Avenue
|
Sun City West, AZ
|
|
—
|
|
|
1,250
|
|
|
21,778
|
|
|
600
|
|
|
1,250
|
|
|
22,378
|
|
|
4,357
|
|
|
2012
|
|
1998
|
|
13810 West Sandridge Drive
|
Sunbury, PA
|
|
—
|
|
|
695
|
|
|
7,246
|
|
|
—
|
|
|
695
|
|
|
7,246
|
|
|
82
|
|
|
2018
|
|
1981
|
|
800 Court Street Circle
|
Sunninghill, UK
|
|
—
|
|
|
11,632
|
|
|
42,233
|
|
|
—
|
|
|
11,632
|
|
|
42,233
|
|
|
1,689
|
|
|
2014
|
|
2017
|
|
Bagshot Road
|
Sunnyvale, CA
|
|
—
|
|
|
4,946
|
|
|
22,131
|
|
|
—
|
|
|
4,946
|
|
|
22,131
|
|
|
251
|
|
|
2018
|
|
1990
|
|
1150 Tilton Drive
|
Superior, WI
|
|
—
|
|
|
1,020
|
|
|
13,735
|
|
|
6,159
|
|
|
1,020
|
|
|
19,894
|
|
|
2,909
|
|
|
2009
|
|
2010
|
|
1915 North 34th Street
|
Tacoma, WA
|
|
—
|
|
|
2,522
|
|
|
8,576
|
|
|
—
|
|
|
2,522
|
|
|
8,576
|
|
|
99
|
|
|
2018
|
|
1984
|
|
5601 South Orchard Southtreet
|
Tampa, FL
|
|
—
|
|
|
1,315
|
|
|
6,913
|
|
|
—
|
|
|
1,315
|
|
|
6,913
|
|
|
94
|
|
|
2018
|
|
1999
|
|
14950 Casey Road
|
Terre Haute, IN
|
|
—
|
|
|
1,370
|
|
|
18,016
|
|
|
—
|
|
|
1,370
|
|
|
18,016
|
|
|
1,936
|
|
|
2015
|
|
2015
|
|
395 8th Avenue
|
Texarkana, TX
|
|
—
|
|
|
192
|
|
|
1,403
|
|
|
—
|
|
|
192
|
|
|
1,403
|
|
|
814
|
|
|
1996
|
|
1996
|
|
4204 Moores Lane
|
The Villages, FL
|
|
—
|
|
|
1,035
|
|
|
7,446
|
|
|
—
|
|
|
1,035
|
|
|
7,446
|
|
|
1,103
|
|
|
2013
|
|
2014
|
|
2450 Parr Drive
|
Thomasville, GA
|
|
—
|
|
|
530
|
|
|
12,520
|
|
|
540
|
|
|
530
|
|
|
13,060
|
|
|
2,093
|
|
|
2011
|
|
2006
|
|
423 Covington Avenue
|
Three Rivers, MI
|
|
—
|
|
|
1,258
|
|
|
2,761
|
|
|
—
|
|
|
1,258
|
|
|
2,761
|
|
|
43
|
|
|
2018
|
|
1976
|
|
517 South Erie Southtreet
|
Tomball, TX
|
|
—
|
|
|
1,050
|
|
|
13,300
|
|
|
840
|
|
|
1,050
|
|
|
14,140
|
|
|
2,805
|
|
|
2011
|
|
2001
|
|
1221 Graham Dr
|
Tonganoxie, KS
|
|
—
|
|
|
310
|
|
|
3,690
|
|
|
76
|
|
|
310
|
|
|
3,766
|
|
|
353
|
|
|
2015
|
|
2009
|
|
120 W 8th St
|
Topeka, KS
|
|
—
|
|
|
260
|
|
|
12,712
|
|
|
—
|
|
|
260
|
|
|
12,712
|
|
|
2,236
|
|
|
2012
|
|
2011
|
|
1931 Southwest Arvonia Place
|
Towson, MD
|
|
—
|
|
|
1,180
|
|
|
13,280
|
|
|
195
|
|
|
1,180
|
|
|
13,475
|
|
|
2,974
|
|
|
2011
|
|
1973
|
|
7700 York Road
|
Towson, MD
|
|
—
|
|
|
1,715
|
|
|
13,115
|
|
|
—
|
|
|
1,715
|
|
|
13,115
|
|
|
154
|
|
|
2018
|
|
2000
|
|
8101 Bellona Avenue
|
Towson, MD
|
|
—
|
|
|
3,100
|
|
|
6,468
|
|
|
—
|
|
|
3,100
|
|
|
6,468
|
|
|
73
|
|
|
2018
|
|
1960
|
|
509 East Joppa Road
|
Towson, MD
|
|
—
|
|
|
4,527
|
|
|
3,128
|
|
|
—
|
|
|
4,527
|
|
|
3,128
|
|
|
44
|
|
|
2018
|
|
1970
|
|
7001 North Charles Street
|
Troy, MI
|
|
—
|
|
|
1,381
|
|
|
24,452
|
|
|
—
|
|
|
1,381
|
|
|
24,452
|
|
|
275
|
|
|
2018
|
|
2006
|
|
925 West South Boulevard
|
Troy, OH
|
|
—
|
|
|
200
|
|
|
2,000
|
|
|
4,254
|
|
|
200
|
|
|
6,254
|
|
|
2,177
|
|
|
1997
|
|
1997
|
|
81 S. Stanfield Rd.
|
(Dollars in thousands)
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Triple-net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Trumbull, CT
|
|
—
|
|
|
4,440
|
|
|
43,384
|
|
|
—
|
|
|
4,440
|
|
|
43,384
|
|
|
8,857
|
|
|
2011
|
|
2001
|
|
6949 Main Street
|
Tucson, AZ
|
|
—
|
|
|
830
|
|
|
6,179
|
|
|
3,370
|
|
|
830
|
|
|
9,549
|
|
|
1,678
|
|
|
2012
|
|
1997
|
|
5660 N. Kolb Road
|
Tulsa, OK
|
|
—
|
|
|
3,003
|
|
|
6,025
|
|
|
20
|
|
|
3,003
|
|
|
6,045
|
|
|
3,553
|
|
|
2006
|
|
1992
|
|
3219 S. 79th E. Ave.
|
Tulsa, OK
|
|
—
|
|
|
1,390
|
|
|
7,110
|
|
|
1,102
|
|
|
1,390
|
|
|
8,212
|
|
|
1,986
|
|
|
2010
|
|
1998
|
|
7220 S. Yale Ave.
|
Tulsa, OK
|
|
—
|
|
|
1,320
|
|
|
10,087
|
|
|
—
|
|
|
1,320
|
|
|
10,087
|
|
|
1,825
|
|
|
2011
|
|
2012
|
|
7902 South Mingo Road East
|
Tulsa, OK
|
|
—
|
|
|
1,100
|
|
|
27,007
|
|
|
—
|
|
|
1,100
|
|
|
27,007
|
|
|
1,388
|
|
|
2015
|
|
2017
|
|
18001 East 51st Street
|
Tulsa, OK
|
|
13,000
|
|
|
1,752
|
|
|
28,421
|
|
|
—
|
|
|
1,752
|
|
|
28,421
|
|
|
1,215
|
|
|
2017
|
|
2014
|
|
701 W 71st Street South
|
Tulsa, OK
|
|
—
|
|
|
890
|
|
|
9,410
|
|
|
—
|
|
|
890
|
|
|
9,410
|
|
|
308
|
|
|
2017
|
|
2009
|
|
7210 South Yale Avenue
|
Twinsburg, OH
|
|
—
|
|
|
1,446
|
|
|
5,921
|
|
|
—
|
|
|
1,446
|
|
|
5,921
|
|
|
77
|
|
|
2018
|
|
2014
|
|
8551 Darrow Road
|
Tyler, TX
|
|
—
|
|
|
650
|
|
|
5,268
|
|
|
—
|
|
|
650
|
|
|
5,268
|
|
|
1,651
|
|
|
2006
|
|
2007
|
|
5550 Old Jacksonville Hwy.
|
Union, SC
|
|
—
|
|
|
1,932
|
|
|
2,374
|
|
|
—
|
|
|
1,932
|
|
|
2,374
|
|
|
43
|
|
|
2018
|
|
1981
|
|
709 Rice Avenue
|
Valparaiso, IN
|
|
—
|
|
|
112
|
|
|
2,558
|
|
|
—
|
|
|
112
|
|
|
2,558
|
|
|
1,206
|
|
|
2001
|
|
1998
|
|
2601 Valparaiso St.
|
Valparaiso, IN
|
|
—
|
|
|
108
|
|
|
2,962
|
|
|
—
|
|
|
108
|
|
|
2,962
|
|
|
1,379
|
|
|
2001
|
|
1999
|
|
2501 Valparaiso St.
|
Vancouver, WA
|
|
—
|
|
|
2,503
|
|
|
28,401
|
|
|
—
|
|
|
2,503
|
|
|
28,401
|
|
|
316
|
|
|
2018
|
|
2011
|
|
2811 N.E. 139th Street
|
Venice, FL
|
|
—
|
|
|
1,150
|
|
|
10,674
|
|
|
—
|
|
|
1,150
|
|
|
10,674
|
|
|
2,717
|
|
|
2008
|
|
2009
|
|
1600 Center Rd.
|
Venice, FL
|
|
—
|
|
|
2,246
|
|
|
10,097
|
|
|
—
|
|
|
2,246
|
|
|
10,097
|
|
|
126
|
|
|
2018
|
|
1997
|
|
1450 East Venice Avenue
|
Vero Beach, FL
|
|
—
|
|
|
263
|
|
|
3,187
|
|
|
—
|
|
|
263
|
|
|
3,187
|
|
|
1,474
|
|
|
2001
|
|
1999
|
|
420 4th Ct.
|
Vero Beach, FL
|
|
—
|
|
|
297
|
|
|
3,263
|
|
|
—
|
|
|
297
|
|
|
3,263
|
|
|
1,518
|
|
|
2001
|
|
1996
|
|
410 4th Ct.
|
Virginia Beach, VA
|
|
—
|
|
|
1,540
|
|
|
22,593
|
|
|
—
|
|
|
1,540
|
|
|
22,593
|
|
|
2,639
|
|
|
2014
|
|
1993
|
|
5520 Indian River Rd
|
Voorhees, NJ
|
|
—
|
|
|
1,800
|
|
|
37,299
|
|
|
671
|
|
|
1,800
|
|
|
37,970
|
|
|
8,097
|
|
|
2011
|
|
1965
|
|
2601 Evesham Road
|
Voorhees, NJ
|
|
—
|
|
|
1,900
|
|
|
26,040
|
|
|
894
|
|
|
1,900
|
|
|
26,934
|
|
|
5,768
|
|
|
2011
|
|
1985
|
|
3001 Evesham Road
|
Voorhees, NJ
|
|
—
|
|
|
3,100
|
|
|
25,950
|
|
|
26
|
|
|
3,100
|
|
|
25,976
|
|
|
4,484
|
|
|
2011
|
|
2013
|
|
113 South Route 73
|
Voorhees, NJ
|
|
—
|
|
|
2,193
|
|
|
6,992
|
|
|
—
|
|
|
2,193
|
|
|
6,992
|
|
|
91
|
|
|
2018
|
|
2006
|
|
1086 Dumont Circle
|
W Palm Beach, FL
|
|
—
|
|
|
1,175
|
|
|
8,297
|
|
|
—
|
|
|
1,175
|
|
|
8,297
|
|
|
106
|
|
|
2018
|
|
1996
|
|
2330 Village Boulevard
|
W Palm Beach, FL
|
|
—
|
|
|
1,921
|
|
|
5,733
|
|
|
—
|
|
|
1,921
|
|
|
5,733
|
|
|
71
|
|
|
2018
|
|
1996
|
|
2300 Village Boulevard
|
Wabash, IN
|
|
—
|
|
|
670
|
|
|
14,588
|
|
|
1
|
|
|
670
|
|
|
14,589
|
|
|
1,825
|
|
|
2014
|
|
2013
|
|
20 John Kissinger Drive
|
Waconia, MN
|
|
—
|
|
|
890
|
|
|
14,726
|
|
|
4,495
|
|
|
890
|
|
|
19,221
|
|
|
3,580
|
|
|
2011
|
|
2005
|
|
500 Cherry Street
|
Wake Forest, NC
|
|
—
|
|
|
200
|
|
|
3,003
|
|
|
1,742
|
|
|
200
|
|
|
4,745
|
|
|
2,308
|
|
|
1998
|
|
1999
|
|
611 S. Brooks St.
|
Wallingford, PA
|
|
—
|
|
|
1,356
|
|
|
6,489
|
|
|
—
|
|
|
1,356
|
|
|
6,489
|
|
|
86
|
|
|
2018
|
|
1930
|
|
115 South Providence Road
|
Walnut Creek, CA
|
|
—
|
|
|
4,358
|
|
|
18,413
|
|
|
—
|
|
|
4,358
|
|
|
18,413
|
|
|
214
|
|
|
2018
|
|
1997
|
|
1975 Tice Valley Boulevard
|
Walnut Creek, CA
|
|
—
|
|
|
5,394
|
|
|
39,096
|
|
|
—
|
|
|
5,394
|
|
|
39,096
|
|
|
432
|
|
|
2018
|
|
1990
|
|
1226 Rossmoor Parkway
|
Walsall, UK
|
|
—
|
|
|
1,184
|
|
|
8,562
|
|
|
329
|
|
|
1,224
|
|
|
8,851
|
|
|
902
|
|
|
2015
|
|
2015
|
|
Little Aston Road
|
Wamego, KS
|
|
—
|
|
|
40
|
|
|
2,510
|
|
|
57
|
|
|
40
|
|
|
2,567
|
|
|
223
|
|
|
2015
|
|
1996
|
|
1607 4th St
|
Wareham, MA
|
|
—
|
|
|
875
|
|
|
10,313
|
|
|
1,701
|
|
|
875
|
|
|
12,014
|
|
|
5,527
|
|
|
2002
|
|
1989
|
|
50 Indian Neck Rd.
|
Warren, NJ
|
|
—
|
|
|
2,000
|
|
|
30,810
|
|
|
1,073
|
|
|
2,000
|
|
|
31,883
|
|
|
6,023
|
|
|
2011
|
|
1999
|
|
274 King George Rd
|
Waterloo, IA
|
|
—
|
|
|
605
|
|
|
3,031
|
|
|
—
|
|
|
605
|
|
|
3,031
|
|
|
39
|
|
|
2018
|
|
1964
|
|
201 West Ridgeway Avenue
|
Waukee, IA
|
|
—
|
|
|
1,870
|
|
|
31,878
|
|
|
1,075
|
|
|
1,870
|
|
|
32,953
|
|
|
5,402
|
|
|
2012
|
|
2007
|
|
1650 SE Holiday Crest Circle
|
Waxahachie, TX
|
|
—
|
|
|
650
|
|
|
5,763
|
|
|
—
|
|
|
650
|
|
|
5,763
|
|
|
1,680
|
|
|
2007
|
|
2008
|
|
1329 Brown St.
|
Wayne, NJ
|
|
—
|
|
|
1,427
|
|
|
16,751
|
|
|
—
|
|
|
1,427
|
|
|
16,751
|
|
|
237
|
|
|
2018
|
|
1998
|
|
800 Hamburg Turnpike
|
Weatherford, TX
|
|
—
|
|
|
660
|
|
|
5,261
|
|
|
—
|
|
|
660
|
|
|
5,261
|
|
|
1,662
|
|
|
2006
|
|
2007
|
|
1818 Martin Drive
|
Wellingborough, UK
|
|
—
|
|
|
1,480
|
|
|
5,724
|
|
|
243
|
|
|
1,530
|
|
|
5,917
|
|
|
681
|
|
|
2015
|
|
2015
|
|
159 Northampton
|
West Bend, WI
|
|
—
|
|
|
620
|
|
|
17,790
|
|
|
38
|
|
|
620
|
|
|
17,828
|
|
|
3,310
|
|
|
2010
|
|
2011
|
|
2130 Continental Dr
|
West Des Moines, IA
|
|
—
|
|
|
828
|
|
|
5,104
|
|
|
—
|
|
|
828
|
|
|
5,104
|
|
|
66
|
|
|
2018
|
|
2006
|
|
5010 Grand Ridge Drive
|
West Orange, NJ
|
|
—
|
|
|
1,347
|
|
|
20,467
|
|
|
—
|
|
|
1,347
|
|
|
20,467
|
|
|
274
|
|
|
2018
|
|
1998
|
|
510 Prospect Avenue
|
West Reading, PA
|
|
—
|
|
|
890
|
|
|
12,122
|
|
|
—
|
|
|
890
|
|
|
12,122
|
|
|
133
|
|
|
2018
|
|
1975
|
|
425 Buttonwood Street
|
(Dollars in thousands)
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
||||||||||||||
Triple-net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Westerville, OH
|
|
—
|
|
|
740
|
|
|
8,287
|
|
|
3,105
|
|
|
740
|
|
|
11,392
|
|
|
9,722
|
|
|
1998
|
|
2001
|
|
690 Cooper Rd.
|
|||||||
Westerville, OH
|
|
—
|
|
|
1,420
|
|
|
5,373
|
|
|
—
|
|
|
1,420
|
|
|
5,373
|
|
|
66
|
|
|
2018
|
|
1982
|
|
1060 Eastwind Drive
|
|||||||
Westerville, OH
|
|
—
|
|
|
1,582
|
|
|
10,282
|
|
|
—
|
|
|
1,582
|
|
|
10,282
|
|
|
128
|
|
|
2018
|
|
1980
|
|
215 Huber Village Boulevard
|
|||||||
Westfield, IN
|
|
—
|
|
|
890
|
|
|
15,964
|
|
|
1
|
|
|
890
|
|
|
15,965
|
|
|
1,981
|
|
|
2014
|
|
2013
|
|
937 E. 186th Street
|
|||||||
Westfield, NJ
|
|
—
|
|
|
2,270
|
|
|
16,589
|
|
|
497
|
|
|
2,270
|
|
|
17,086
|
|
|
4,001
|
|
|
2011
|
|
1970
|
|
1515 Lamberts Mill Road
|
|||||||
Westlake, OH
|
|
—
|
|
|
855
|
|
|
11,966
|
|
|
—
|
|
|
855
|
|
|
11,966
|
|
|
143
|
|
|
2018
|
|
1997
|
|
28400 Center Ridge Road
|
|||||||
Weston Super Mare, UK
|
|
—
|
|
|
2,517
|
|
|
7,054
|
|
|
324
|
|
|
2,602
|
|
|
7,293
|
|
|
1,047
|
|
|
2013
|
|
2011
|
|
141b Milton Road
|
|||||||
Wheaton, MD
|
|
—
|
|
|
3,864
|
|
|
3,790
|
|
|
—
|
|
|
3,864
|
|
|
3,790
|
|
|
48
|
|
|
2018
|
|
1961
|
|
11901 Georgia Avenue
|
|||||||
Whippany, NJ
|
|
—
|
|
|
1,571
|
|
|
14,982
|
|
|
—
|
|
|
1,571
|
|
|
14,982
|
|
|
180
|
|
|
2018
|
|
2000
|
|
18 Eden Lane
|
|||||||
White Lake, MI
|
|
—
|
|
|
2,920
|
|
|
20,179
|
|
|
92
|
|
|
2,920
|
|
|
20,271
|
|
|
4,516
|
|
|
2010
|
|
2000
|
|
935 Union Lake Rd
|
|||||||
Wichita, KS
|
|
—
|
|
|
1,400
|
|
|
11,000
|
|
|
—
|
|
|
1,400
|
|
|
11,000
|
|
|
4,844
|
|
|
2006
|
|
1997
|
|
505 North Maize Road
|
|||||||
Wichita, KS
|
|
—
|
|
|
860
|
|
|
8,873
|
|
|
—
|
|
|
860
|
|
|
8,873
|
|
|
1,792
|
|
|
2011
|
|
2012
|
|
10604 E 13th Street North
|
|||||||
Wichita, KS
|
|
12,779
|
|
|
630
|
|
|
19,747
|
|
|
—
|
|
|
630
|
|
|
19,747
|
|
|
3,328
|
|
|
2012
|
|
2009
|
|
2050 North Webb Road
|
|||||||
Wichita, KS
|
|
—
|
|
|
260
|
|
|
2,240
|
|
|
129
|
|
|
260
|
|
|
2,369
|
|
|
207
|
|
|
2015
|
|
1992
|
|
900 N Bayshore Dr
|
|||||||
Wichita, KS
|
|
—
|
|
|
900
|
|
|
10,134
|
|
|
—
|
|
|
900
|
|
|
10,134
|
|
|
1,932
|
|
|
2011
|
|
2012
|
|
10600 E 13th Street North
|
|||||||
Wilkes-Barre, PA
|
|
—
|
|
|
753
|
|
|
3,457
|
|
|
—
|
|
|
753
|
|
|
3,457
|
|
|
48
|
|
|
2018
|
|
1970
|
|
1548 Sans Souci Parkway
|
|||||||
Williamsburg, VA
|
|
—
|
|
|
1,187
|
|
|
5,728
|
|
|
—
|
|
|
1,187
|
|
|
5,728
|
|
|
375
|
|
|
2018
|
|
2000
|
|
1811 Jamestown Rd
|
|||||||
Williamsport, PA
|
|
—
|
|
|
919
|
|
|
6,926
|
|
|
—
|
|
|
919
|
|
|
6,926
|
|
|
83
|
|
|
2018
|
|
1976
|
|
300 Leader Drive
|
|||||||
Williamsport, PA
|
|
—
|
|
|
780
|
|
|
1,899
|
|
|
—
|
|
|
780
|
|
|
1,899
|
|
|
30
|
|
|
2018
|
|
1972
|
|
101 Leader Drive
|
|||||||
Williamstown, KY
|
|
—
|
|
|
70
|
|
|
6,430
|
|
|
—
|
|
|
70
|
|
|
6,430
|
|
|
2,501
|
|
|
2005
|
|
1987
|
|
201 Kimberly Lane
|
|||||||
Willoughby, OH
|
|
—
|
|
|
1,774
|
|
|
8,655
|
|
|
—
|
|
|
1,774
|
|
|
8,655
|
|
|
105
|
|
|
2018
|
|
1974
|
|
37603 Euclid Avenue
|
|||||||
Wilmington, DE
|
|
—
|
|
|
800
|
|
|
9,494
|
|
|
114
|
|
|
800
|
|
|
9,608
|
|
|
2,193
|
|
|
2011
|
|
1970
|
|
810 S Broom Street
|
|||||||
Wilmington, DE
|
|
—
|
|
|
1,376
|
|
|
13,454
|
|
|
—
|
|
|
1,376
|
|
|
13,454
|
|
|
159
|
|
|
2018
|
|
1998
|
|
700 1/2 Foulk Road
|
|||||||
Wilmington, DE
|
|
—
|
|
|
2,843
|
|
|
36,959
|
|
|
—
|
|
|
2,843
|
|
|
36,959
|
|
|
419
|
|
|
2018
|
|
1988
|
|
5651 Limestone Road
|
|||||||
Wilmington, DE
|
|
—
|
|
|
2,266
|
|
|
9,503
|
|
|
—
|
|
|
2,266
|
|
|
9,503
|
|
|
115
|
|
|
2018
|
|
1984
|
|
700 Foulk Road
|
|||||||
Wilmington, NC
|
|
—
|
|
|
210
|
|
|
2,991
|
|
|
—
|
|
|
210
|
|
|
2,991
|
|
|
1,560
|
|
|
1999
|
|
1999
|
|
3501 Converse Dr.
|
|||||||
Wilmington, NC
|
|
—
|
|
|
400
|
|
|
15,355
|
|
|
—
|
|
|
400
|
|
|
15,355
|
|
|
1,854
|
|
|
2014
|
|
2012
|
|
3828 Independence Blvd
|
|||||||
Windsor, VA
|
|
—
|
|
|
1,148
|
|
|
6,514
|
|
|
—
|
|
|
1,148
|
|
|
6,514
|
|
|
443
|
|
|
2018
|
|
1999
|
|
23352 Courthouse Hwy
|
|||||||
Winston-Salem, NC
|
|
—
|
|
|
360
|
|
|
2,514
|
|
|
459
|
|
|
360
|
|
|
2,973
|
|
|
1,268
|
|
|
2003
|
|
1996
|
|
2980 Reynolda Rd.
|
|||||||
Winter Garden, FL
|
|
—
|
|
|
1,110
|
|
|
7,937
|
|
|
—
|
|
|
1,110
|
|
|
7,937
|
|
|
1,382
|
|
|
2012
|
|
2013
|
|
720 Roper Road
|
|||||||
Winter Springs, FL
|
|
—
|
|
|
1,152
|
|
|
14,826
|
|
|
—
|
|
|
1,152
|
|
|
14,826
|
|
|
173
|
|
|
2018
|
|
1999
|
|
1057 Willa Springs Drive
|
|||||||
Witherwack, UK
|
|
—
|
|
|
944
|
|
|
6,915
|
|
|
266
|
|
|
976
|
|
|
7,149
|
|
|
1,027
|
|
|
2013
|
|
2009
|
|
Whitchurch Road
|
|||||||
Wolverhampton, UK
|
|
—
|
|
|
1,573
|
|
|
6,678
|
|
|
279
|
|
|
1,626
|
|
|
6,904
|
|
|
1,000
|
|
|
2013
|
|
2011
|
|
378 Prestonwood Road
|
|||||||
Woodbury, MN
|
|
—
|
|
|
1,317
|
|
|
20,935
|
|
|
298
|
|
|
1,317
|
|
|
21,233
|
|
|
1,057
|
|
|
2017
|
|
2015
|
|
2195 Century Avenue South
|
|||||||
Woodstock, VA
|
|
—
|
|
|
594
|
|
|
5,108
|
|
|
—
|
|
|
594
|
|
|
5,108
|
|
|
338
|
|
|
2018
|
|
2001
|
|
803 S Main St
|
|||||||
Worcester, MA
|
|
—
|
|
|
3,500
|
|
|
54,099
|
|
|
—
|
|
|
3,500
|
|
|
54,099
|
|
|
13,035
|
|
|
2007
|
|
2009
|
|
101 Barry Road
|
|||||||
Worcester, MA
|
|
—
|
|
|
2,300
|
|
|
9,060
|
|
|
6,000
|
|
|
2,300
|
|
|
15,060
|
|
|
4,007
|
|
|
2008
|
|
1993
|
|
378 Plantation St.
|
|||||||
Yardley, PA
|
|
—
|
|
|
773
|
|
|
14,918
|
|
|
—
|
|
|
773
|
|
|
14,918
|
|
|
184
|
|
|
2018
|
|
1995
|
|
493 Stony Hill Road
|
|||||||
Yardley, PA
|
|
—
|
|
|
1,561
|
|
|
9,442
|
|
|
—
|
|
|
1,561
|
|
|
9,442
|
|
|
139
|
|
|
2018
|
|
1990
|
|
1480 Oxford Valley Road
|
|||||||
Yeadon, PA
|
|
—
|
|
|
1,075
|
|
|
10,694
|
|
|
—
|
|
|
1,075
|
|
|
10,694
|
|
|
121
|
|
|
2018
|
|
1963
|
|
14 Lincoln Avenue
|
|||||||
York, PA
|
|
—
|
|
|
976
|
|
|
9,357
|
|
|
—
|
|
|
976
|
|
|
9,357
|
|
|
112
|
|
|
2018
|
|
1972
|
|
200 Pauline Drive
|
|||||||
York, PA
|
|
—
|
|
|
1,050
|
|
|
4,212
|
|
|
—
|
|
|
1,050
|
|
|
4,212
|
|
|
60
|
|
|
2018
|
|
1983
|
|
2400 Kingston Court
|
|||||||
York, PA
|
|
—
|
|
|
1,121
|
|
|
7,586
|
|
|
—
|
|
|
1,121
|
|
|
7,586
|
|
|
97
|
|
|
2018
|
|
1979
|
|
1770 Barley Road
|
|||||||
York, UK
|
|
—
|
|
|
2,961
|
|
|
8,266
|
|
|
379
|
|
|
3,061
|
|
|
8,545
|
|
|
946
|
|
|
2014
|
|
2006
|
|
Rosetta Way, Boroughbridge Road
|
|||||||
Youngsville, NC
|
|
—
|
|
|
380
|
|
|
10,689
|
|
|
—
|
|
|
380
|
|
|
10,689
|
|
|
1,256
|
|
|
2014
|
|
2013
|
|
100 Sunset Drive
|
|||||||
Zephyrhills, FL
|
|
—
|
|
|
2,131
|
|
|
6,671
|
|
|
—
|
|
|
2,131
|
|
|
6,671
|
|
|
90
|
|
|
2018
|
|
1987
|
|
38220 Henry Drive
|
|||||||
Zionsville, IN
|
|
—
|
|
|
1,610
|
|
|
22,400
|
|
|
1,686
|
|
|
1,610
|
|
|
24,086
|
|
|
5,158
|
|
|
2010
|
|
2009
|
|
11755 N Michigan Rd
|
|||||||
Triple-net Total
|
|
$
|
288,387
|
|
|
$
|
1,096,169
|
|
|
$
|
8,585,481
|
|
|
$
|
301,960
|
|
|
$
|
1,119,576
|
|
|
$
|
8,864,034
|
|
|
$
|
1,261,486
|
|
|
|
|
|
|
|
Welltower Inc.
|
|
|
||||||||||||||||||||||||||||||||
Schedule III
|
|
|
||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation
|
|
|
||||||||||||||||||||||||||||||||
December 31, 2018
|
|
|
||||||||||||||||||||||||||||||||
(Dollars in thousands)
|
|
|
||||||||||||||||||||||||||||||||
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
||||||||||||||
Outpatient Medical:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Addison, IL
|
|
$
|
6,052
|
|
|
$
|
102
|
|
|
$
|
19,089
|
|
|
$
|
—
|
|
|
$
|
102
|
|
|
$
|
19,089
|
|
|
$
|
—
|
|
|
2018
|
|
2012
|
|
303 West Lake Street
|
Akron, OH
|
|
—
|
|
|
821
|
|
|
12,105
|
|
|
1
|
|
|
821
|
|
|
12,106
|
|
|
2,993
|
|
|
2012
|
|
2010
|
|
701 White Pond Drive
|
|||||||
Allen, TX
|
|
—
|
|
|
726
|
|
|
14,196
|
|
|
1,221
|
|
|
726
|
|
|
15,417
|
|
|
4,722
|
|
|
2012
|
|
2006
|
|
1105 N Central Expressway
|
|||||||
Alpharetta, GA
|
|
—
|
|
|
476
|
|
|
14,757
|
|
|
448
|
|
|
476
|
|
|
15,205
|
|
|
5,141
|
|
|
2011
|
|
2003
|
|
11975 Morris Road
|
|||||||
Alpharetta, GA
|
|
—
|
|
|
1,862
|
|
|
—
|
|
|
—
|
|
|
1,862
|
|
|
—
|
|
|
—
|
|
|
2011
|
|
1900
|
|
940 North Point Parkway
|
|||||||
Alpharetta, GA
|
|
—
|
|
|
548
|
|
|
17,103
|
|
|
548
|
|
|
548
|
|
|
17,651
|
|
|
6,275
|
|
|
2011
|
|
2007
|
|
3300 Old Milton Parkway
|
|||||||
Alpharetta, GA
|
|
—
|
|
|
773
|
|
|
18,902
|
|
|
1,640
|
|
|
773
|
|
|
20,542
|
|
|
6,627
|
|
|
2011
|
|
1993
|
|
3400-A Old Milton Parkway
|
|||||||
Alpharetta, GA
|
|
—
|
|
|
1,769
|
|
|
36,152
|
|
|
1,805
|
|
|
1,769
|
|
|
37,957
|
|
|
13,445
|
|
|
2011
|
|
1999
|
|
3400-C Old Milton Parkway
|
|||||||
Anderson, IN
|
|
—
|
|
|
584
|
|
|
21,077
|
|
|
—
|
|
|
584
|
|
|
21,077
|
|
|
1,300
|
|
|
2017
|
|
2016
|
|
3125 S. Scatterfield Rd.
|
|||||||
Arcadia, CA
|
|
—
|
|
|
5,408
|
|
|
23,219
|
|
|
4,567
|
|
|
5,618
|
|
|
27,576
|
|
|
10,909
|
|
|
2006
|
|
1984
|
|
301 W. Huntington Drive
|
|||||||
Arlington, TX
|
|
—
|
|
|
82
|
|
|
18,243
|
|
|
402
|
|
|
82
|
|
|
18,645
|
|
|
3,550
|
|
|
2012
|
|
2012
|
|
902 W. Randol Mill Road
|
|||||||
Atlanta, GA
|
|
—
|
|
|
4,931
|
|
|
18,720
|
|
|
7,068
|
|
|
5,387
|
|
|
25,332
|
|
|
11,504
|
|
|
2006
|
|
1991
|
|
755 Mt. Vernon Hwy.
|
|||||||
Atlanta, GA
|
|
—
|
|
|
1,947
|
|
|
24,248
|
|
|
1,973
|
|
|
2,184
|
|
|
25,984
|
|
|
7,822
|
|
|
2012
|
|
1984
|
|
975 Johnson Ferry Road
|
|||||||
Atlanta, GA
|
|
—
|
|
|
—
|
|
|
43,425
|
|
|
1,972
|
|
|
—
|
|
|
45,397
|
|
|
12,796
|
|
|
2012
|
|
2006
|
|
5670 Peachtree-Dunwoody Road
|
|||||||
Austin, TX
|
|
—
|
|
|
1,066
|
|
|
10,112
|
|
|
—
|
|
|
1,066
|
|
|
10,112
|
|
|
499
|
|
|
2017
|
|
2017
|
|
5301-B Davis Lane
|
|||||||
Bardstown, KY
|
|
—
|
|
|
273
|
|
|
7,966
|
|
|
42
|
|
|
274
|
|
|
8,007
|
|
|
1,409
|
|
|
2010
|
|
2006
|
|
4359 New Shepherdsville Rd
|
|||||||
Bartlett, TN
|
|
—
|
|
|
187
|
|
|
15,015
|
|
|
2,225
|
|
|
187
|
|
|
17,240
|
|
|
6,860
|
|
|
2007
|
|
2004
|
|
2996 Kate Bond Rd.
|
|||||||
Bel Air, MD
|
|
—
|
|
|
—
|
|
|
24,769
|
|
|
49
|
|
|
—
|
|
|
24,818
|
|
|
1,724
|
|
|
2014
|
|
2016
|
|
12 Medstar Boulevard
|
|||||||
Bellevue, NE
|
|
—
|
|
|
—
|
|
|
16,680
|
|
|
2
|
|
|
—
|
|
|
16,682
|
|
|
5,283
|
|
|
2010
|
|
2010
|
|
2510 Bellevue Medical Center Drive
|
|||||||
Bettendorf, IA
|
|
—
|
|
|
—
|
|
|
7,110
|
|
|
73
|
|
|
—
|
|
|
7,183
|
|
|
748
|
|
|
2013
|
|
2014
|
|
2140 53rd Avenue
|
|||||||
Beverly Hills, CA
|
|
—
|
|
|
20,766
|
|
|
40,730
|
|
|
3,400
|
|
|
20,766
|
|
|
44,130
|
|
|
6,159
|
|
|
2015
|
|
1946
|
|
9675 Brighton Way
|
|||||||
Beverly Hills, CA
|
|
—
|
|
|
18,863
|
|
|
1,192
|
|
|
208
|
|
|
18,885
|
|
|
1,378
|
|
|
684
|
|
|
2015
|
|
1955
|
|
415 North Bedford
|
|||||||
Beverly Hills, CA
|
|
—
|
|
|
19,863
|
|
|
31,690
|
|
|
1,058
|
|
|
19,863
|
|
|
32,748
|
|
|
4,403
|
|
|
2015
|
|
1946
|
|
416 North Bedford
|
|||||||
Beverly Hills, CA
|
|
33,729
|
|
|
32,603
|
|
|
28,639
|
|
|
812
|
|
|
32,603
|
|
|
29,451
|
|
|
5,043
|
|
|
2015
|
|
1950
|
|
435 North Bedford
|
|||||||
Beverly Hills, CA
|
|
78,271
|
|
|
52,772
|
|
|
87,366
|
|
|
510
|
|
|
52,772
|
|
|
87,876
|
|
|
11,291
|
|
|
2015
|
|
1989
|
|
436 North Bedford
|
|||||||
Birmingham, AL
|
|
—
|
|
|
52
|
|
|
10,201
|
|
|
639
|
|
|
52
|
|
|
10,840
|
|
|
4,243
|
|
|
2006
|
|
1971
|
|
801 Princeton Avenue SW
|
|||||||
Birmingham, AL
|
|
—
|
|
|
124
|
|
|
11,733
|
|
|
2,047
|
|
|
124
|
|
|
13,780
|
|
|
4,905
|
|
|
2006
|
|
1985
|
|
817 Princeton Avenue SW
|
|||||||
Birmingham, AL
|
|
—
|
|
|
476
|
|
|
18,726
|
|
|
2,196
|
|
|
476
|
|
|
20,922
|
|
|
7,981
|
|
|
2006
|
|
1989
|
|
833 Princeton Avenue SW
|
|||||||
Birmingham, AL
|
|
8,626
|
|
|
896
|
|
|
13,755
|
|
|
—
|
|
|
896
|
|
|
13,755
|
|
|
—
|
|
|
2018
|
|
1985
|
|
3485 Independence Drive
|
|||||||
Boardman, OH
|
|
—
|
|
|
80
|
|
|
12,161
|
|
|
40
|
|
|
80
|
|
|
12,201
|
|
|
4,585
|
|
|
2010
|
|
2007
|
|
8423 Market St
|
|||||||
Boca Raton, FL
|
|
—
|
|
|
31
|
|
|
12,312
|
|
|
896
|
|
|
251
|
|
|
12,988
|
|
|
3,622
|
|
|
2012
|
|
1993
|
|
9960 S. Central Park Boulevard
|
|||||||
Boca Raton, FL
|
|
—
|
|
|
109
|
|
|
34,002
|
|
|
3,823
|
|
|
214
|
|
|
37,720
|
|
|
14,246
|
|
|
2006
|
|
1995
|
|
9970 S. Central Park Blvd.
|
|||||||
Boerne, TX
|
|
—
|
|
|
50
|
|
|
12,951
|
|
|
454
|
|
|
86
|
|
|
13,369
|
|
|
3,535
|
|
|
2011
|
|
2007
|
|
134 Menger Springs Road
|
|||||||
Boynton Beach, FL
|
|
—
|
|
|
2,048
|
|
|
7,692
|
|
|
1,374
|
|
|
2,185
|
|
|
8,929
|
|
|
3,798
|
|
|
2006
|
|
1995
|
|
8188 Jog Rd.
|
|||||||
Boynton Beach, FL
|
|
—
|
|
|
2,048
|
|
|
7,403
|
|
|
1,631
|
|
|
2,185
|
|
|
8,897
|
|
|
3,902
|
|
|
2006
|
|
1997
|
|
8200 Jog Road
|
|||||||
Boynton Beach, FL
|
|
—
|
|
|
214
|
|
|
5,611
|
|
|
8,423
|
|
|
320
|
|
|
13,928
|
|
|
5,714
|
|
|
2007
|
|
1996
|
|
10075 Jog Rd.
|
|||||||
Boynton Beach, FL
|
|
—
|
|
|
13,324
|
|
|
40,369
|
|
|
2,925
|
|
|
14,049
|
|
|
42,569
|
|
|
11,591
|
|
|
2013
|
|
1995
|
|
10301 Hagen Ranch Road
|
(Dollars in thousands)
|
|
|
|||||||||||||||||||||||||
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Outpatient Medical:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Bradenton, FL
|
|
—
|
|
|
1,184
|
|
|
9,799
|
|
|
417
|
|
|
1,184
|
|
|
10,216
|
|
|
1,896
|
|
|
2014
|
|
1975
|
|
315 75th Street West
|
Bradenton, FL
|
|
—
|
|
|
1,035
|
|
|
4,298
|
|
|
17
|
|
|
1,035
|
|
|
4,315
|
|
|
889
|
|
|
2014
|
|
2006
|
|
7005 Cortez Road West
|
Brandon, FL
|
|
—
|
|
|
1,437
|
|
|
7,006
|
|
|
—
|
|
|
1,437
|
|
|
7,006
|
|
|
182
|
|
|
2018
|
|
2016
|
|
2020 Town Center Boulevard
|
Bridgeton, MO
|
|
—
|
|
|
1,701
|
|
|
6,228
|
|
|
193
|
|
|
1,501
|
|
|
6,621
|
|
|
649
|
|
|
2017
|
|
2008
|
|
3440 De Paul Ln.
|
Bridgeton, MO
|
|
—
|
|
|
450
|
|
|
21,221
|
|
|
265
|
|
|
450
|
|
|
21,486
|
|
|
6,906
|
|
|
2010
|
|
2006
|
|
12266 DePaul Dr
|
Buckhurst Hill, UK
|
|
—
|
|
|
11,989
|
|
|
50,907
|
|
|
—
|
|
|
11,989
|
|
|
50,907
|
|
|
4,885
|
|
|
2015
|
|
2013
|
|
High Road
|
Burleson, TX
|
|
—
|
|
|
10
|
|
|
12,611
|
|
|
731
|
|
|
10
|
|
|
13,342
|
|
|
4,177
|
|
|
2011
|
|
2007
|
|
12001 South Freeway
|
Burnsville, MN
|
|
—
|
|
|
—
|
|
|
31,596
|
|
|
1,463
|
|
|
—
|
|
|
33,059
|
|
|
8,685
|
|
|
2013
|
|
2014
|
|
14101 Fairview Dr
|
Carmel, IN
|
|
—
|
|
|
2,280
|
|
|
19,238
|
|
|
944
|
|
|
2,475
|
|
|
19,987
|
|
|
7,581
|
|
|
2011
|
|
2005
|
|
12188-A North Meridian Street
|
Carmel, IN
|
|
—
|
|
|
2,026
|
|
|
21,559
|
|
|
186
|
|
|
2,186
|
|
|
21,585
|
|
|
8,691
|
|
|
2011
|
|
2007
|
|
12188-B North Meridian Street
|
Castle Rock, CO
|
|
—
|
|
|
80
|
|
|
13,004
|
|
|
586
|
|
|
79
|
|
|
13,591
|
|
|
3,008
|
|
|
2014
|
|
2013
|
|
2352 Meadows Boulevard
|
Castle Rock, CO
|
|
—
|
|
|
—
|
|
|
11,795
|
|
|
165
|
|
|
—
|
|
|
11,960
|
|
|
483
|
|
|
2016
|
|
2017
|
|
Meadows Boulevard
|
Cedar Park, TX
|
|
—
|
|
|
132
|
|
|
23,753
|
|
|
—
|
|
|
132
|
|
|
23,753
|
|
|
1,819
|
|
|
2017
|
|
2014
|
|
1401 Medical Parkway, Building 2
|
Chapel Hill, NC
|
|
5,259
|
|
|
1,970
|
|
|
8,874
|
|
|
—
|
|
|
1,970
|
|
|
8,874
|
|
|
—
|
|
|
2018
|
|
2007
|
|
6011 Farrington Road
|
Chapel Hill, NC
|
|
5,259
|
|
|
1,970
|
|
|
8,925
|
|
|
—
|
|
|
1,970
|
|
|
8,925
|
|
|
—
|
|
|
2018
|
|
2007
|
|
6013 Farrington Road
|
Chapel Hill, NC
|
|
14,949
|
|
|
5,681
|
|
|
25,035
|
|
|
—
|
|
|
5,681
|
|
|
25,035
|
|
|
—
|
|
|
2018
|
|
2006
|
|
2226 North Carolina Highway 54
|
Charleston, SC
|
|
—
|
|
|
2,773
|
|
|
25,928
|
|
|
124
|
|
|
2,815
|
|
|
26,010
|
|
|
4,988
|
|
|
2014
|
|
2009
|
|
325 Folly Road
|
Cincinnati, OH
|
|
—
|
|
|
—
|
|
|
17,880
|
|
|
250
|
|
|
2
|
|
|
18,128
|
|
|
3,561
|
|
|
2012
|
|
2013
|
|
3301 Mercy Health Boulevard
|
Claremore, OK
|
|
—
|
|
|
132
|
|
|
11,173
|
|
|
76
|
|
|
132
|
|
|
11,249
|
|
|
3,318
|
|
|
2007
|
|
2005
|
|
1501 N. Florence Ave.
|
Clarkson Valley, MO
|
|
—
|
|
|
—
|
|
|
35,592
|
|
|
—
|
|
|
—
|
|
|
35,592
|
|
|
12,590
|
|
|
2009
|
|
2010
|
|
15945 Clayton Rd
|
Clear Lake, TX
|
|
—
|
|
|
—
|
|
|
13,882
|
|
|
20
|
|
|
—
|
|
|
13,902
|
|
|
1,504
|
|
|
2013
|
|
2014
|
|
1010 South Ponds Drive
|
Columbia, MD
|
|
—
|
|
|
23
|
|
|
33,885
|
|
|
1,766
|
|
|
9,353
|
|
|
26,321
|
|
|
6,522
|
|
|
2015
|
|
1982
|
|
5450 & 5500 Knoll N Dr.
|
Columbia, MD
|
|
—
|
|
|
12,159
|
|
|
72,636
|
|
|
—
|
|
|
12,159
|
|
|
72,636
|
|
|
249
|
|
|
2018
|
|
2009
|
|
10710 Charter Drive
|
Columbia, MD
|
|
—
|
|
|
2,333
|
|
|
19,232
|
|
|
1,567
|
|
|
2,333
|
|
|
20,799
|
|
|
4,971
|
|
|
2012
|
|
2002
|
|
10700 Charter Drive
|
Coon Rapids, MN
|
|
—
|
|
|
—
|
|
|
26,679
|
|
|
1,123
|
|
|
—
|
|
|
27,802
|
|
|
5,356
|
|
|
2013
|
|
2014
|
|
11850 Blackfoot Street NW
|
Costa Mesa, CA
|
|
22,020
|
|
|
22,033
|
|
|
24,332
|
|
|
179
|
|
|
22,033
|
|
|
24,511
|
|
|
3,664
|
|
|
2017
|
|
2007
|
|
1640 Newport Boulevard
|
Cypress, TX
|
|
—
|
|
|
1,287
|
|
|
—
|
|
|
—
|
|
|
1,287
|
|
|
—
|
|
|
—
|
|
|
2016
|
|
1900
|
|
14940 Mueschke Road
|
Dade City, FL
|
|
—
|
|
|
1,211
|
|
|
5,511
|
|
|
—
|
|
|
1,211
|
|
|
5,511
|
|
|
1,476
|
|
|
2011
|
|
1998
|
|
13413 US Hwy 301
|
Dallas, TX
|
|
—
|
|
|
122
|
|
|
15,418
|
|
|
—
|
|
|
122
|
|
|
15,418
|
|
|
1,681
|
|
|
2013
|
|
2014
|
|
8196 Walnut Hill Lane
|
Dallas, TX
|
|
—
|
|
|
137
|
|
|
28,690
|
|
|
3,836
|
|
|
137
|
|
|
32,526
|
|
|
13,032
|
|
|
2006
|
|
1995
|
|
9330 Poppy Dr.
|
Dallas, TX
|
|
—
|
|
|
462
|
|
|
52,488
|
|
|
2,070
|
|
|
462
|
|
|
54,558
|
|
|
11,436
|
|
|
2012
|
|
2004
|
|
7115 Greenville Avenue
|
Dallas, TX
|
|
—
|
|
|
6,086
|
|
|
18,007
|
|
|
—
|
|
|
6,086
|
|
|
18,007
|
|
|
373
|
|
|
2018
|
|
2010
|
|
10740 North Central Expressway
|
Dayton, OH
|
|
—
|
|
|
730
|
|
|
6,919
|
|
|
362
|
|
|
730
|
|
|
7,281
|
|
|
3,039
|
|
|
2011
|
|
1988
|
|
1530 Needmore Road
|
Deerfield Beach, FL
|
|
—
|
|
|
2,408
|
|
|
7,809
|
|
|
793
|
|
|
2,540
|
|
|
8,470
|
|
|
3,356
|
|
|
2011
|
|
2001
|
|
1192 East Newport Center Drive
|
Delray Beach, FL
|
|
—
|
|
|
1,882
|
|
|
34,767
|
|
|
7,280
|
|
|
2,449
|
|
|
41,480
|
|
|
18,890
|
|
|
2006
|
|
1985
|
|
5130-5150 Linton Blvd.
|
Durham, NC
|
|
—
|
|
|
1,212
|
|
|
22,858
|
|
|
2
|
|
|
1,212
|
|
|
22,860
|
|
|
3,958
|
|
|
2013
|
|
2012
|
|
1823 Hillandale Road
|
Edina, MN
|
|
—
|
|
|
310
|
|
|
15,132
|
|
|
989
|
|
|
310
|
|
|
16,121
|
|
|
4,820
|
|
|
2010
|
|
2003
|
|
8100 W 78th St
|
El Paso, TX
|
|
—
|
|
|
677
|
|
|
17,075
|
|
|
2,457
|
|
|
677
|
|
|
19,532
|
|
|
8,868
|
|
|
2006
|
|
1997
|
|
2400 Trawood Dr.
|
Elmhurst, IL
|
|
—
|
|
|
41
|
|
|
39,562
|
|
|
—
|
|
|
41
|
|
|
39,562
|
|
|
—
|
|
|
2018
|
|
2011
|
|
133 E Brush Hill Road
|
Everett, WA
|
|
—
|
|
|
4,842
|
|
|
26,010
|
|
|
1
|
|
|
4,842
|
|
|
26,011
|
|
|
7,650
|
|
|
2010
|
|
2011
|
|
13020 Meridian Ave. S.
|
Fenton, MO
|
|
10,559
|
|
|
958
|
|
|
27,485
|
|
|
439
|
|
|
958
|
|
|
27,924
|
|
|
7,480
|
|
|
2013
|
|
2009
|
|
1011 Bowles Avenue
|
Fenton, MO
|
|
—
|
|
|
369
|
|
|
13,911
|
|
|
357
|
|
|
369
|
|
|
14,268
|
|
|
2,793
|
|
|
2013
|
|
2009
|
|
1055 Bowles Avenue
|
Florham Park, NJ
|
|
—
|
|
|
8,578
|
|
|
61,779
|
|
|
—
|
|
|
8,578
|
|
|
61,779
|
|
|
1,953
|
|
|
2017
|
|
2017
|
|
150 Park Avenue
|
(Dollars in thousands)
|
|
|
|||||||||||||||||||||||||
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Outpatient Medical:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Flower Mound, TX
|
|
—
|
|
|
737
|
|
|
9,276
|
|
|
—
|
|
|
737
|
|
|
9,276
|
|
|
1,475
|
|
|
2015
|
|
2014
|
|
2560 Central Park Avenue
|
Flower Mound, TX
|
|
—
|
|
|
4,164
|
|
|
27,027
|
|
|
962
|
|
|
4,164
|
|
|
27,989
|
|
|
4,930
|
|
|
2014
|
|
2012
|
|
4370 Medical Arts Drive
|
Flower Mound, TX
|
|
—
|
|
|
4,620
|
|
|
—
|
|
|
—
|
|
|
4,620
|
|
|
—
|
|
|
—
|
|
|
2014
|
|
1900
|
|
Medical Arts Drive
|
Fort Wayne, IN
|
|
—
|
|
|
1,105
|
|
|
22,836
|
|
|
—
|
|
|
1,105
|
|
|
22,836
|
|
|
5,324
|
|
|
2012
|
|
2004
|
|
7916 Jefferson Boulevard
|
Fort Worth, TX
|
|
—
|
|
|
462
|
|
|
26,020
|
|
|
373
|
|
|
462
|
|
|
26,393
|
|
|
5,128
|
|
|
2012
|
|
2012
|
|
10840 Texas Health Trail
|
Fort Worth, TX
|
|
—
|
|
|
401
|
|
|
6,099
|
|
|
1
|
|
|
401
|
|
|
6,100
|
|
|
1,227
|
|
|
2014
|
|
2007
|
|
7200 Oakmont Boulevard
|
Franklin, TN
|
|
—
|
|
|
2,338
|
|
|
12,138
|
|
|
2,821
|
|
|
2,338
|
|
|
14,959
|
|
|
6,092
|
|
|
2007
|
|
1988
|
|
100 Covey Drive
|
Frisco, TX
|
|
—
|
|
|
—
|
|
|
18,635
|
|
|
1,534
|
|
|
—
|
|
|
20,169
|
|
|
7,805
|
|
|
2007
|
|
2004
|
|
4401 Coit Road
|
Frisco, TX
|
|
—
|
|
|
—
|
|
|
15,309
|
|
|
2,549
|
|
|
—
|
|
|
17,858
|
|
|
7,344
|
|
|
2007
|
|
2004
|
|
4461 Coit Road
|
Fullerton, CA
|
|
—
|
|
|
5,477
|
|
|
53,890
|
|
|
433
|
|
|
5,477
|
|
|
54,323
|
|
|
3,694
|
|
|
2014
|
|
2007
|
|
1950 Sunny Crest Drive
|
Gallatin, TN
|
|
—
|
|
|
20
|
|
|
21,801
|
|
|
1,868
|
|
|
44
|
|
|
23,645
|
|
|
8,066
|
|
|
2010
|
|
1997
|
|
300 Steam Plant Rd
|
Gardendale, AL
|
|
4,300
|
|
|
1,150
|
|
|
8,162
|
|
|
—
|
|
|
1,150
|
|
|
8,162
|
|
|
—
|
|
|
2018
|
|
2005
|
|
2217 Decatur Highway
|
Gig Harbor, WA
|
|
—
|
|
|
80
|
|
|
30,810
|
|
|
982
|
|
|
80
|
|
|
31,792
|
|
|
3,944
|
|
|
2010
|
|
2009
|
|
11511 Canterwood Blvd. NW
|
Glendale, CA
|
|
—
|
|
|
37
|
|
|
18,398
|
|
|
1,651
|
|
|
37
|
|
|
20,049
|
|
|
6,951
|
|
|
2007
|
|
2002
|
|
222 W. Eulalia St.
|
Gloucester, VA
|
|
—
|
|
|
2,128
|
|
|
9,169
|
|
|
—
|
|
|
2,128
|
|
|
9,169
|
|
|
—
|
|
|
2018
|
|
2008
|
|
5659 Parkway Drive
|
Grand Prairie, TX
|
|
—
|
|
|
981
|
|
|
6,086
|
|
|
—
|
|
|
981
|
|
|
6,086
|
|
|
2,096
|
|
|
2012
|
|
2009
|
|
2740 N State Hwy 360
|
Grapevine, TX
|
|
—
|
|
|
—
|
|
|
5,943
|
|
|
4,778
|
|
|
2,081
|
|
|
8,640
|
|
|
1,603
|
|
|
2014
|
|
2002
|
|
2040 W State Hwy 114
|
Grapevine, TX
|
|
—
|
|
|
3,365
|
|
|
15,669
|
|
|
1,661
|
|
|
3,365
|
|
|
17,330
|
|
|
3,778
|
|
|
2014
|
|
2002
|
|
2020 W State Hwy 114
|
Greeneville, TN
|
|
—
|
|
|
970
|
|
|
10,104
|
|
|
74
|
|
|
970
|
|
|
10,178
|
|
|
3,880
|
|
|
2010
|
|
2005
|
|
438 East Vann Rd
|
Greenwood, IN
|
|
—
|
|
|
8,316
|
|
|
26,384
|
|
|
—
|
|
|
8,316
|
|
|
26,384
|
|
|
6,879
|
|
|
2012
|
|
2010
|
|
1260 Innovation Parkway
|
Greenwood, IN
|
|
—
|
|
|
2,098
|
|
|
21,538
|
|
|
638
|
|
|
2,098
|
|
|
22,176
|
|
|
3,486
|
|
|
2014
|
|
2013
|
|
3000 S State Road 135
|
Greenwood, IN
|
|
—
|
|
|
1,262
|
|
|
7,045
|
|
|
8
|
|
|
1,262
|
|
|
7,053
|
|
|
1,589
|
|
|
2014
|
|
2010
|
|
333 E County Line Road
|
High Point, NC
|
|
—
|
|
|
2,659
|
|
|
29,069
|
|
|
165
|
|
|
2,659
|
|
|
29,234
|
|
|
6,581
|
|
|
2012
|
|
2010
|
|
4515 Premier Drive
|
Highland, IL
|
|
—
|
|
|
—
|
|
|
8,834
|
|
|
—
|
|
|
—
|
|
|
8,834
|
|
|
1,598
|
|
|
2012
|
|
2013
|
|
12860 Troxler Avenue
|
Houston, TX
|
|
—
|
|
|
10,403
|
|
|
—
|
|
|
—
|
|
|
10,403
|
|
|
—
|
|
|
6
|
|
|
2011
|
|
1900
|
|
F.M. 1960 & Northgate Forest Dr.
|
Houston, TX
|
|
—
|
|
|
5,837
|
|
|
33,128
|
|
|
150
|
|
|
5,837
|
|
|
33,278
|
|
|
11,293
|
|
|
2012
|
|
2005
|
|
15655 Cypress Woods Medical Dr.
|
Houston, TX
|
|
—
|
|
|
3,102
|
|
|
32,323
|
|
|
4,489
|
|
|
3,242
|
|
|
36,672
|
|
|
7,580
|
|
|
2014
|
|
2014
|
|
1900 N Loop W Freeway
|
Houston, TX
|
|
—
|
|
|
3,688
|
|
|
13,313
|
|
|
132
|
|
|
3,688
|
|
|
13,445
|
|
|
3,449
|
|
|
2012
|
|
2007
|
|
10701 Vintage Preserve Parkway
|
Houston, TX
|
|
—
|
|
|
1,099
|
|
|
1,604
|
|
|
80,605
|
|
|
12,815
|
|
|
70,493
|
|
|
14,163
|
|
|
2012
|
|
1998
|
|
2727 W Holcombe Boulevard
|
Houston, TX
|
|
3,899
|
|
|
377
|
|
|
13,726
|
|
|
—
|
|
|
377
|
|
|
13,726
|
|
|
—
|
|
|
2018
|
|
2011
|
|
20207 Chasewood Park Drive
|
Howell, MI
|
|
—
|
|
|
2,000
|
|
|
13,928
|
|
|
803
|
|
|
2,000
|
|
|
14,731
|
|
|
459
|
|
|
2016
|
|
2017
|
|
1225 South Latson Road
|
Hudson, OH
|
|
—
|
|
|
2,587
|
|
|
13,720
|
|
|
688
|
|
|
2,868
|
|
|
14,127
|
|
|
4,921
|
|
|
2012
|
|
2006
|
|
5655 Hudson Drive
|
Humble, TX
|
|
—
|
|
|
—
|
|
|
9,941
|
|
|
—
|
|
|
—
|
|
|
9,941
|
|
|
1,036
|
|
|
2013
|
|
2014
|
|
8233 N. Sam Houston Parkway E.
|
Jackson, MI
|
|
—
|
|
|
607
|
|
|
17,367
|
|
|
130
|
|
|
668
|
|
|
17,436
|
|
|
4,502
|
|
|
2013
|
|
2009
|
|
1201 E Michigan Avenue
|
Jupiter, FL
|
|
—
|
|
|
2,252
|
|
|
11,415
|
|
|
3,422
|
|
|
2,636
|
|
|
14,453
|
|
|
5,598
|
|
|
2006
|
|
2001
|
|
550 Heritage Dr.
|
Jupiter, FL
|
|
—
|
|
|
2,825
|
|
|
5,858
|
|
|
1,082
|
|
|
3,036
|
|
|
6,729
|
|
|
3,037
|
|
|
2007
|
|
2004
|
|
600 Heritage Dr.
|
Killeen, TX
|
|
—
|
|
|
—
|
|
|
3,756
|
|
|
—
|
|
|
—
|
|
|
3,756
|
|
|
325
|
|
|
2018
|
|
1990
|
|
2301 S. Clear Creek
|
Killeen, TX
|
|
—
|
|
|
760
|
|
|
22,878
|
|
|
305
|
|
|
795
|
|
|
23,148
|
|
|
7,882
|
|
|
2010
|
|
2010
|
|
2405 Clear Creek Rd
|
Killeen, TX
|
|
—
|
|
|
1,907
|
|
|
3,575
|
|
|
—
|
|
|
1,907
|
|
|
3,575
|
|
|
566
|
|
|
2011
|
|
2012
|
|
5702 E Central Texas Expressway
|
Kyle, TX
|
|
—
|
|
|
2,569
|
|
|
14,384
|
|
|
538
|
|
|
2,569
|
|
|
14,922
|
|
|
2,962
|
|
|
2014
|
|
2011
|
|
135 Bunton Creek Road
|
La Jolla, CA
|
|
—
|
|
|
12,855
|
|
|
32,658
|
|
|
705
|
|
|
12,855
|
|
|
33,363
|
|
|
5,946
|
|
|
2015
|
|
1989
|
|
4150 Regents Park Row
|
La Jolla, CA
|
|
—
|
|
|
9,425
|
|
|
26,525
|
|
|
542
|
|
|
9,425
|
|
|
27,067
|
|
|
3,912
|
|
|
2015
|
|
1988
|
|
4120 & 4130 La Jolla Village Drive
|
(Dollars in thousands)
|
|
|
|||||||||||||||||||||||||
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Outpatient Medical:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
La Quinta, CA
|
|
—
|
|
|
3,266
|
|
|
22,066
|
|
|
197
|
|
|
3,279
|
|
|
22,250
|
|
|
4,719
|
|
|
2014
|
|
2006
|
|
47647 Caleo Bay Drive
|
Lacey, WA
|
|
6,768
|
|
|
1,751
|
|
|
10,383
|
|
|
—
|
|
|
1,751
|
|
|
10,383
|
|
|
—
|
|
|
2018
|
|
1971
|
|
2555 Marvin Road Northeast
|
Lake St Louis, MO
|
|
—
|
|
|
240
|
|
|
14,249
|
|
|
204
|
|
|
240
|
|
|
14,453
|
|
|
5,048
|
|
|
2010
|
|
2008
|
|
400 Medical Dr
|
Lakeway, TX
|
|
—
|
|
|
2,801
|
|
|
—
|
|
|
—
|
|
|
2,801
|
|
|
—
|
|
|
—
|
|
|
2007
|
|
1900
|
|
Lohmans Crossing Road
|
Lakewood, CA
|
|
—
|
|
|
146
|
|
|
14,885
|
|
|
2,294
|
|
|
146
|
|
|
17,179
|
|
|
6,528
|
|
|
2006
|
|
1993
|
|
5750 Downey Ave.
|
Lakewood, WA
|
|
—
|
|
|
72
|
|
|
16,017
|
|
|
676
|
|
|
72
|
|
|
16,693
|
|
|
3,952
|
|
|
2012
|
|
2005
|
|
11307 Bridgeport Way SW
|
Land O Lakes, FL
|
|
—
|
|
|
3,025
|
|
|
26,249
|
|
|
—
|
|
|
3,025
|
|
|
26,249
|
|
|
1,096
|
|
|
2017
|
|
2009
|
|
2100 Via Bella
|
Land O Lakes, FL
|
|
—
|
|
|
1,376
|
|
|
6,750
|
|
|
—
|
|
|
1,376
|
|
|
6,750
|
|
|
313
|
|
|
2017
|
|
2011
|
|
2150 Via Bella
|
Las Vegas, NV
|
|
—
|
|
|
6,127
|
|
|
—
|
|
|
—
|
|
|
6,127
|
|
|
—
|
|
|
—
|
|
|
2007
|
|
1900
|
|
SW corner of Deer Springs Way and Riley Street
|
Las Vegas, NV
|
|
—
|
|
|
2,319
|
|
|
4,612
|
|
|
1,214
|
|
|
2,319
|
|
|
5,826
|
|
|
2,708
|
|
|
2006
|
|
1991
|
|
2870 S. Maryland Pkwy.
|
Las Vegas, NV
|
|
—
|
|
|
74
|
|
|
15,287
|
|
|
1,484
|
|
|
74
|
|
|
16,771
|
|
|
6,416
|
|
|
2006
|
|
2000
|
|
1815 E. Lake Mead Blvd.
|
Las Vegas, NV
|
|
—
|
|
|
433
|
|
|
6,921
|
|
|
214
|
|
|
433
|
|
|
7,135
|
|
|
3,196
|
|
|
2007
|
|
1997
|
|
1776 E. Warm Springs Rd.
|
Lenexa, KS
|
|
—
|
|
|
540
|
|
|
17,926
|
|
|
290
|
|
|
540
|
|
|
18,216
|
|
|
5,492
|
|
|
2010
|
|
2008
|
|
23401 Prairie Star Pkwy
|
Lenexa, KS
|
|
—
|
|
|
100
|
|
|
13,766
|
|
|
—
|
|
|
100
|
|
|
13,766
|
|
|
1,751
|
|
|
2013
|
|
2013
|
|
23351 Prairie Star Parkway
|
Lincoln, NE
|
|
—
|
|
|
1,420
|
|
|
29,723
|
|
|
1,052
|
|
|
1,420
|
|
|
30,775
|
|
|
10,875
|
|
|
2010
|
|
2003
|
|
575 South 70th St
|
London, UK
|
|
—
|
|
|
5,229
|
|
|
11,551
|
|
|
—
|
|
|
5,229
|
|
|
11,551
|
|
|
1,108
|
|
|
2015
|
|
2007
|
|
17-19 View Road
|
London, UK
|
|
—
|
|
|
17,983
|
|
|
157,802
|
|
|
—
|
|
|
17,983
|
|
|
157,802
|
|
|
15,142
|
|
|
2015
|
|
2010
|
|
53 Parkside
|
London, UK
|
|
—
|
|
|
4,081
|
|
|
28,107
|
|
|
—
|
|
|
4,081
|
|
|
28,107
|
|
|
2,697
|
|
|
2015
|
|
2003
|
|
49 Parkside
|
Los Alamitos, CA
|
|
—
|
|
|
39
|
|
|
18,635
|
|
|
1,114
|
|
|
39
|
|
|
19,749
|
|
|
7,389
|
|
|
2007
|
|
2003
|
|
3771 Katella Ave.
|
Los Gatos, CA
|
|
—
|
|
|
488
|
|
|
22,386
|
|
|
2,410
|
|
|
488
|
|
|
24,796
|
|
|
11,137
|
|
|
2006
|
|
1993
|
|
555 Knowles Dr.
|
Loxahatchee, FL
|
|
—
|
|
|
1,637
|
|
|
5,048
|
|
|
1,280
|
|
|
1,719
|
|
|
6,246
|
|
|
2,713
|
|
|
2006
|
|
1997
|
|
12977 Southern Blvd.
|
Loxahatchee, FL
|
|
—
|
|
|
1,340
|
|
|
6,509
|
|
|
1,464
|
|
|
1,440
|
|
|
7,873
|
|
|
3,144
|
|
|
2006
|
|
1993
|
|
12989 Southern Blvd.
|
Loxahatchee, FL
|
|
—
|
|
|
1,553
|
|
|
4,694
|
|
|
1,544
|
|
|
1,650
|
|
|
6,141
|
|
|
2,655
|
|
|
2006
|
|
1994
|
|
12983 Southern Blvd.
|
Lynbrook, NY
|
|
27,745
|
|
|
10,028
|
|
|
37,319
|
|
|
—
|
|
|
10,028
|
|
|
37,319
|
|
|
—
|
|
|
2018
|
|
1962
|
|
444 Merrick Road
|
Marietta, GA
|
|
—
|
|
|
2,682
|
|
|
20,053
|
|
|
1,409
|
|
|
2,703
|
|
|
21,441
|
|
|
2,224
|
|
|
2016
|
|
2016
|
|
4800 Olde Towne Parkway
|
Melbourne, FL
|
|
—
|
|
|
3,439
|
|
|
50,461
|
|
|
802
|
|
|
3,538
|
|
|
51,164
|
|
|
9,227
|
|
|
2014
|
|
2009
|
|
2222 South Harbor City Boulevard
|
Menasha, WI
|
|
—
|
|
|
1,374
|
|
|
13,861
|
|
|
2,940
|
|
|
1,345
|
|
|
16,830
|
|
|
2,099
|
|
|
2016
|
|
1994
|
|
1550 Midway Place
|
Merced, CA
|
|
—
|
|
|
—
|
|
|
13,772
|
|
|
815
|
|
|
—
|
|
|
14,587
|
|
|
5,015
|
|
|
2009
|
|
2010
|
|
315 Mercy Ave.
|
Merriam, KS
|
|
—
|
|
|
176
|
|
|
8,005
|
|
|
1,088
|
|
|
176
|
|
|
9,093
|
|
|
3,256
|
|
|
2011
|
|
1972
|
|
8800 West 75th Street
|
Merriam, KS
|
|
—
|
|
|
—
|
|
|
10,222
|
|
|
4,517
|
|
|
444
|
|
|
14,295
|
|
|
5,210
|
|
|
2011
|
|
1977
|
|
8901 West 74th Street
|
Merriam, KS
|
|
—
|
|
|
1,257
|
|
|
24,911
|
|
|
64
|
|
|
1,257
|
|
|
24,975
|
|
|
6,116
|
|
|
2013
|
|
2009
|
|
9301 West 74th Street
|
Merrillville, IN
|
|
—
|
|
|
—
|
|
|
22,134
|
|
|
915
|
|
|
—
|
|
|
23,049
|
|
|
7,183
|
|
|
2008
|
|
2006
|
|
101 E. 87th Ave.
|
Mesa, AZ
|
|
—
|
|
|
1,558
|
|
|
9,561
|
|
|
1,347
|
|
|
1,558
|
|
|
10,908
|
|
|
4,756
|
|
|
2008
|
|
1989
|
|
6424 East Broadway Road
|
Mesquite, TX
|
|
—
|
|
|
496
|
|
|
3,834
|
|
|
—
|
|
|
496
|
|
|
3,834
|
|
|
1,035
|
|
|
2012
|
|
2012
|
|
1575 I-30
|
Mission Hills, CA
|
|
23,835
|
|
|
—
|
|
|
42,276
|
|
|
6,672
|
|
|
4,791
|
|
|
44,157
|
|
|
8,540
|
|
|
2014
|
|
1986
|
|
11550 Indian Hills Road
|
Missouri City, TX
|
|
—
|
|
|
1,360
|
|
|
7,146
|
|
|
62
|
|
|
1,360
|
|
|
7,208
|
|
|
420
|
|
|
2015
|
|
2016
|
|
7010 Highway 6
|
Mobile, AL
|
|
16,028
|
|
|
2,759
|
|
|
25,180
|
|
|
—
|
|
|
2,759
|
|
|
25,180
|
|
|
—
|
|
|
2018
|
|
2003
|
|
6144 Airport Boulevard
|
Moline, IL
|
|
—
|
|
|
—
|
|
|
8,783
|
|
|
69
|
|
|
—
|
|
|
8,852
|
|
|
1,179
|
|
|
2012
|
|
2013
|
|
3900 28th Avenue Drive
|
Monticello, MN
|
|
6,976
|
|
|
61
|
|
|
18,489
|
|
|
131
|
|
|
61
|
|
|
18,620
|
|
|
3,986
|
|
|
2012
|
|
2008
|
|
1001 Hart Boulevard
|
Moorestown, NJ
|
|
—
|
|
|
6
|
|
|
50,896
|
|
|
694
|
|
|
362
|
|
|
51,234
|
|
|
12,506
|
|
|
2011
|
|
2012
|
|
401 Young Avenue
|
Morrow, GA
|
|
—
|
|
|
818
|
|
|
8,064
|
|
|
272
|
|
|
845
|
|
|
8,309
|
|
|
4,320
|
|
|
2007
|
|
1990
|
|
6635 Lake Drive
|
Mount Juliet, TN
|
|
—
|
|
|
1,566
|
|
|
11,697
|
|
|
1,734
|
|
|
1,601
|
|
|
13,396
|
|
|
5,609
|
|
|
2007
|
|
2005
|
|
5002 Crossings Circle
|
(Dollars in thousands)
|
|
|
|||||||||||||||||||||||||
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Outpatient Medical:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Mount Vernon, IL
|
|
—
|
|
|
—
|
|
|
24,892
|
|
|
25
|
|
|
—
|
|
|
24,917
|
|
|
6,306
|
|
|
2011
|
|
2012
|
|
2 Good Samaritan Way
|
Murrieta, CA
|
|
—
|
|
|
—
|
|
|
47,190
|
|
|
63
|
|
|
—
|
|
|
47,253
|
|
|
18,061
|
|
|
2010
|
|
2011
|
|
28078 Baxter Rd.
|
Murrieta, CA
|
|
—
|
|
|
3,800
|
|
|
—
|
|
|
—
|
|
|
3,800
|
|
|
—
|
|
|
—
|
|
|
2014
|
|
1900
|
|
28078 Baxter Rd.
|
Nashville, TN
|
|
—
|
|
|
1,806
|
|
|
7,165
|
|
|
3,728
|
|
|
1,942
|
|
|
10,757
|
|
|
4,509
|
|
|
2006
|
|
1986
|
|
310 25th Ave. N.
|
Nassau Bay, TX
|
|
—
|
|
|
378
|
|
|
29,947
|
|
|
—
|
|
|
378
|
|
|
29,947
|
|
|
7,296
|
|
|
2012
|
|
1981
|
|
18100 St John Drive
|
Nassau Bay, TX
|
|
—
|
|
|
91
|
|
|
10,613
|
|
|
1,386
|
|
|
91
|
|
|
11,999
|
|
|
3,829
|
|
|
2012
|
|
1986
|
|
2060 Space Park Drive
|
New Albany, IN
|
|
—
|
|
|
2,411
|
|
|
16,494
|
|
|
30
|
|
|
2,411
|
|
|
16,524
|
|
|
2,981
|
|
|
2014
|
|
2001
|
|
2210 Green Valley Road
|
Niagara Falls, NY
|
|
—
|
|
|
1,433
|
|
|
10,891
|
|
|
441
|
|
|
1,721
|
|
|
11,044
|
|
|
5,761
|
|
|
2007
|
|
1995
|
|
6932 - 6934 Williams Rd
|
Niagara Falls, NY
|
|
—
|
|
|
454
|
|
|
8,362
|
|
|
310
|
|
|
454
|
|
|
8,672
|
|
|
3,298
|
|
|
2007
|
|
2004
|
|
6930 Williams Rd
|
Oklahoma City, OK
|
|
—
|
|
|
216
|
|
|
19,135
|
|
|
398
|
|
|
216
|
|
|
19,533
|
|
|
5,116
|
|
|
2013
|
|
2008
|
|
535 NW 9th Street
|
Oro Valley, AZ
|
|
—
|
|
|
89
|
|
|
18,339
|
|
|
1,052
|
|
|
89
|
|
|
19,391
|
|
|
6,798
|
|
|
2007
|
|
2004
|
|
1521 East Tangerine Rd.
|
Palmer, AK
|
|
—
|
|
|
283
|
|
|
8,335
|
|
|
—
|
|
|
283
|
|
|
8,335
|
|
|
171
|
|
|
2017
|
|
2018
|
|
2480 S Woodworth Loop
|
Palmer, AK
|
|
—
|
|
|
217
|
|
|
29,705
|
|
|
1,442
|
|
|
217
|
|
|
31,147
|
|
|
10,991
|
|
|
2007
|
|
2006
|
|
2490 South Woodworth Loop
|
Pasadena, TX
|
|
—
|
|
|
1,700
|
|
|
8,009
|
|
|
—
|
|
|
1,700
|
|
|
8,009
|
|
|
1,102
|
|
|
2012
|
|
2013
|
|
5001 E Sam Houston Parkway S
|
Pearland, TX
|
|
—
|
|
|
1,500
|
|
|
11,253
|
|
|
11
|
|
|
1,500
|
|
|
11,264
|
|
|
1,457
|
|
|
2012
|
|
2013
|
|
2515 Business Center Drive
|
Pearland, TX
|
|
—
|
|
|
9,594
|
|
|
32,753
|
|
|
191
|
|
|
9,807
|
|
|
32,731
|
|
|
5,033
|
|
|
2014
|
|
2013
|
|
11511 Shadow Creek Parkway
|
Pendleton, OR
|
|
—
|
|
|
—
|
|
|
10,312
|
|
|
380
|
|
|
—
|
|
|
10,692
|
|
|
1,362
|
|
|
2012
|
|
2013
|
|
3001 St. Anthony Way
|
Phoenix, AZ
|
|
—
|
|
|
1,149
|
|
|
48,018
|
|
|
13,128
|
|
|
1,149
|
|
|
61,146
|
|
|
25,399
|
|
|
2006
|
|
1998
|
|
2222 E. Highland Ave.
|
Pineville, NC
|
|
—
|
|
|
961
|
|
|
6,974
|
|
|
2,507
|
|
|
1,077
|
|
|
9,365
|
|
|
4,615
|
|
|
2006
|
|
1988
|
|
10512 Park Rd.
|
Plano, TX
|
|
—
|
|
|
5,423
|
|
|
20,698
|
|
|
554
|
|
|
5,423
|
|
|
21,252
|
|
|
12,431
|
|
|
2008
|
|
2007
|
|
6957 Plano Parkway
|
Plano, TX
|
|
—
|
|
|
793
|
|
|
83,209
|
|
|
2,668
|
|
|
793
|
|
|
85,877
|
|
|
20,969
|
|
|
2012
|
|
2005
|
|
6020 West Parker Road
|
Plantation, FL
|
|
—
|
|
|
8,563
|
|
|
10,666
|
|
|
4,461
|
|
|
8,575
|
|
|
15,115
|
|
|
7,703
|
|
|
2006
|
|
1997
|
|
851-865 SW 78th Ave.
|
Plantation, FL
|
|
—
|
|
|
8,848
|
|
|
9,262
|
|
|
1,442
|
|
|
8,908
|
|
|
10,644
|
|
|
6,782
|
|
|
2006
|
|
1996
|
|
600 Pine Island Rd.
|
Port Orchard, WA
|
|
10,172
|
|
|
2,810
|
|
|
22,716
|
|
|
—
|
|
|
2,810
|
|
|
22,716
|
|
|
—
|
|
|
2018
|
|
1995
|
|
450 South Kitsap Boulevard
|
Portland, ME
|
|
—
|
|
|
655
|
|
|
25,529
|
|
|
—
|
|
|
655
|
|
|
25,529
|
|
|
7,892
|
|
|
2011
|
|
2008
|
|
195 Fore River Parkway
|
Redmond, WA
|
|
—
|
|
|
5,015
|
|
|
26,697
|
|
|
1,080
|
|
|
5,015
|
|
|
27,777
|
|
|
8,340
|
|
|
2010
|
|
2011
|
|
18000 NE Union Hill Rd.
|
Reno, NV
|
|
—
|
|
|
1,117
|
|
|
21,972
|
|
|
2,068
|
|
|
1,117
|
|
|
24,040
|
|
|
9,409
|
|
|
2006
|
|
1991
|
|
343 Elm St.
|
Richmond, TX
|
|
—
|
|
|
2,000
|
|
|
9,118
|
|
|
7
|
|
|
2,000
|
|
|
9,125
|
|
|
627
|
|
|
2015
|
|
2016
|
|
22121 FM 1093 Road
|
Richmond, VA
|
|
—
|
|
|
2,969
|
|
|
26,697
|
|
|
882
|
|
|
3,059
|
|
|
27,489
|
|
|
8,796
|
|
|
2012
|
|
2008
|
|
7001 Forest Avenue
|
Rockwall, TX
|
|
—
|
|
|
132
|
|
|
17,197
|
|
|
143
|
|
|
132
|
|
|
17,340
|
|
|
4,240
|
|
|
2012
|
|
2008
|
|
3142 Horizon Road
|
Rogers, AR
|
|
—
|
|
|
1,062
|
|
|
28,680
|
|
|
3,206
|
|
|
1,062
|
|
|
31,886
|
|
|
9,999
|
|
|
2011
|
|
2008
|
|
2708 Rife Medical Lane
|
Rolla, MO
|
|
—
|
|
|
1,931
|
|
|
47,639
|
|
|
1
|
|
|
1,931
|
|
|
47,640
|
|
|
12,977
|
|
|
2011
|
|
2009
|
|
1605 Martin Spring Drive
|
Roswell, NM
|
|
—
|
|
|
183
|
|
|
5,850
|
|
|
—
|
|
|
183
|
|
|
5,850
|
|
|
1,870
|
|
|
2011
|
|
2004
|
|
601 West Country Club Road
|
Roswell, NM
|
|
—
|
|
|
883
|
|
|
15,984
|
|
|
41
|
|
|
883
|
|
|
16,025
|
|
|
4,578
|
|
|
2011
|
|
2006
|
|
350 West Country Club Road
|
Roswell, NM
|
|
—
|
|
|
762
|
|
|
17,171
|
|
|
—
|
|
|
762
|
|
|
17,171
|
|
|
4,082
|
|
|
2011
|
|
2009
|
|
300 West Country Club Road
|
Sacramento, CA
|
|
—
|
|
|
866
|
|
|
12,756
|
|
|
2,023
|
|
|
869
|
|
|
14,776
|
|
|
5,835
|
|
|
2006
|
|
1990
|
|
8120 Timberlake Way
|
Salem, NH
|
|
—
|
|
|
1,655
|
|
|
14,050
|
|
|
46
|
|
|
1,681
|
|
|
14,070
|
|
|
3,046
|
|
|
2014
|
|
2013
|
|
31 Stiles Road
|
San Antonio, TX
|
|
—
|
|
|
1,057
|
|
|
10,101
|
|
|
—
|
|
|
1,057
|
|
|
10,101
|
|
|
4,943
|
|
|
2006
|
|
1999
|
|
19016 Stone Oak Pkwy.
|
San Antonio, TX
|
|
—
|
|
|
1,038
|
|
|
9,173
|
|
|
1,758
|
|
|
1,096
|
|
|
10,873
|
|
|
5,389
|
|
|
2006
|
|
1999
|
|
540 Stone Oak Centre Drive
|
San Antonio, TX
|
|
—
|
|
|
4,518
|
|
|
31,041
|
|
|
4,087
|
|
|
4,593
|
|
|
35,053
|
|
|
10,558
|
|
|
2012
|
|
1986
|
|
5282 Medical Drive
|
San Antonio, TX
|
|
—
|
|
|
900
|
|
|
17,288
|
|
|
798
|
|
|
938
|
|
|
18,048
|
|
|
4,489
|
|
|
2014
|
|
2007
|
|
3903 Wiseman Boulevard
|
San Antonio, TX
|
|
—
|
|
|
3,050
|
|
|
12,073
|
|
|
—
|
|
|
3,050
|
|
|
12,073
|
|
|
47
|
|
|
2016
|
|
2017
|
|
5206 Research Drive
|
(Dollars in thousands)
|
|
|
|||||||||||||||||||||||||
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
|||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
|||||||
Outpatient Medical:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Santa Clarita, CA
|
|
—
|
|
|
—
|
|
|
2,338
|
|
|
20,485
|
|
|
5,304
|
|
|
17,519
|
|
|
3,177
|
|
|
2014
|
|
1976
|
|
23861 McBean Parkway
|
Santa Clarita, CA
|
|
—
|
|
|
—
|
|
|
28,384
|
|
|
1,866
|
|
|
5,277
|
|
|
24,973
|
|
|
4,346
|
|
|
2014
|
|
1998
|
|
23929 McBean Parkway
|
Santa Clarita, CA
|
|
—
|
|
|
278
|
|
|
185
|
|
|
11,594
|
|
|
11,872
|
|
|
185
|
|
|
151
|
|
|
2014
|
|
1996
|
|
23871 McBean Parkway
|
Santa Clarita, CA
|
|
25,000
|
|
|
295
|
|
|
40,257
|
|
|
60
|
|
|
295
|
|
|
40,317
|
|
|
5,184
|
|
|
2014
|
|
2013
|
|
23803 McBean Parkway
|
Santa Clarita, CA
|
|
—
|
|
|
—
|
|
|
20,618
|
|
|
919
|
|
|
4,407
|
|
|
17,130
|
|
|
3,150
|
|
|
2014
|
|
1989
|
|
24355 Lyons Avenue
|
Sarasota, FL
|
|
—
|
|
|
62
|
|
|
47,325
|
|
|
4,118
|
|
|
62
|
|
|
51,443
|
|
|
13,413
|
|
|
2012
|
|
1990
|
|
1921 Waldemere Street
|
Seattle, WA
|
|
—
|
|
|
4,410
|
|
|
38,428
|
|
|
392
|
|
|
4,410
|
|
|
38,820
|
|
|
15,744
|
|
|
2010
|
|
2010
|
|
5350 Tallman Ave
|
Sewell, NJ
|
|
—
|
|
|
60
|
|
|
57,929
|
|
|
846
|
|
|
164
|
|
|
58,671
|
|
|
23,914
|
|
|
2007
|
|
2009
|
|
239 Hurffville-Cross Keys Road
|
Sewell, NJ
|
|
—
|
|
|
1,242
|
|
|
11,616
|
|
|
—
|
|
|
1,242
|
|
|
11,616
|
|
|
—
|
|
|
2018
|
|
2007
|
|
556 Egg Harbor Road
|
Shakopee, MN
|
|
5,654
|
|
|
508
|
|
|
11,412
|
|
|
851
|
|
|
509
|
|
|
12,262
|
|
|
4,159
|
|
|
2010
|
|
1996
|
|
1515 St Francis Ave
|
Shakopee, MN
|
|
9,541
|
|
|
707
|
|
|
18,089
|
|
|
95
|
|
|
773
|
|
|
18,118
|
|
|
5,061
|
|
|
2010
|
|
2007
|
|
1601 St Francis Ave
|
Shenandoah, TX
|
|
—
|
|
|
—
|
|
|
21,135
|
|
|
62
|
|
|
24
|
|
|
21,173
|
|
|
2,117
|
|
|
2013
|
|
2014
|
|
106 Vision Park Boulevard
|
Sherman Oaks, CA
|
|
—
|
|
|
—
|
|
|
32,186
|
|
|
3,228
|
|
|
3,121
|
|
|
32,293
|
|
|
6,038
|
|
|
2014
|
|
1969
|
|
4955 Van Nuys Boulevard
|
Silverdale, WA
|
|
13,378
|
|
|
3,451
|
|
|
21,176
|
|
|
—
|
|
|
3,451
|
|
|
21,176
|
|
|
—
|
|
|
2018
|
|
2004
|
|
2200 NW Myhre Road
|
Somerville, NJ
|
|
—
|
|
|
3,400
|
|
|
22,244
|
|
|
2
|
|
|
3,400
|
|
|
22,246
|
|
|
5,793
|
|
|
2008
|
|
2007
|
|
30 Rehill Avenue
|
Southlake, TX
|
|
—
|
|
|
3,000
|
|
|
—
|
|
|
—
|
|
|
3,000
|
|
|
—
|
|
|
—
|
|
|
2014
|
|
1900
|
|
Central Avenue
|
Southlake, TX
|
|
—
|
|
|
592
|
|
|
18,243
|
|
|
1,821
|
|
|
592
|
|
|
20,064
|
|
|
5,076
|
|
|
2012
|
|
2004
|
|
1545 East Southlake Boulevard
|
Southlake, TX
|
|
—
|
|
|
698
|
|
|
30,549
|
|
|
3,915
|
|
|
698
|
|
|
34,464
|
|
|
7,578
|
|
|
2012
|
|
2004
|
|
1545 East Southlake Boulevard
|
Springfield, IL
|
|
—
|
|
|
1,569
|
|
|
10,350
|
|
|
—
|
|
|
1,568
|
|
|
10,351
|
|
|
1,244
|
|
|
2010
|
|
2011
|
|
1100 East Lincolnshire Blvd
|
Springfield, IL
|
|
—
|
|
|
177
|
|
|
3,519
|
|
|
31
|
|
|
177
|
|
|
3,550
|
|
|
440
|
|
|
2010
|
|
2011
|
|
2801 Mathers Rd.
|
St Paul, MN
|
|
—
|
|
|
49
|
|
|
37,695
|
|
|
348
|
|
|
49
|
|
|
38,043
|
|
|
5,050
|
|
|
2014
|
|
2006
|
|
225 Smith Avenue N.
|
St. Louis, MO
|
|
—
|
|
|
336
|
|
|
17,247
|
|
|
2,068
|
|
|
336
|
|
|
19,315
|
|
|
7,425
|
|
|
2007
|
|
2001
|
|
2325 Dougherty Rd.
|
St. Paul, MN
|
|
—
|
|
|
2,706
|
|
|
39,507
|
|
|
309
|
|
|
2,701
|
|
|
39,821
|
|
|
12,101
|
|
|
2011
|
|
2007
|
|
435 Phalen Boulevard
|
Stamford, CT
|
|
—
|
|
|
—
|
|
|
41,153
|
|
|
3,071
|
|
|
—
|
|
|
44,224
|
|
|
2,403
|
|
|
2015
|
|
2016
|
|
29 Hospital Plaza
|
Suffern, NY
|
|
—
|
|
|
653
|
|
|
37,255
|
|
|
283
|
|
|
698
|
|
|
37,493
|
|
|
11,886
|
|
|
2011
|
|
2007
|
|
257 Lafayette Avenue
|
Suffolk, VA
|
|
—
|
|
|
1,566
|
|
|
11,511
|
|
|
68
|
|
|
1,620
|
|
|
11,525
|
|
|
4,693
|
|
|
2010
|
|
2007
|
|
5838 Harbour View Blvd.
|
Sugar Land, TX
|
|
—
|
|
|
3,543
|
|
|
15,532
|
|
|
—
|
|
|
3,543
|
|
|
15,532
|
|
|
5,290
|
|
|
2012
|
|
2005
|
|
11555 University Boulevard
|
Tacoma, WA
|
|
—
|
|
|
—
|
|
|
64,307
|
|
|
—
|
|
|
—
|
|
|
64,307
|
|
|
17,445
|
|
|
2011
|
|
2013
|
|
1608 South J Street
|
Tallahassee, FL
|
|
—
|
|
|
—
|
|
|
17,449
|
|
|
—
|
|
|
—
|
|
|
17,449
|
|
|
5,855
|
|
|
2010
|
|
2011
|
|
One Healing Place
|
Tampa, FL
|
|
—
|
|
|
4,319
|
|
|
12,234
|
|
|
—
|
|
|
4,319
|
|
|
12,234
|
|
|
2,803
|
|
|
2011
|
|
2003
|
|
14547 Bruce B Downs Blvd
|
Tampa, FL
|
|
—
|
|
|
1,462
|
|
|
7,270
|
|
|
—
|
|
|
1,462
|
|
|
7,270
|
|
|
331
|
|
|
2017
|
|
1996
|
|
12500 N Dale Mabry
|
Temple, TX
|
|
—
|
|
|
2,900
|
|
|
9,954
|
|
|
26
|
|
|
2,900
|
|
|
9,980
|
|
|
1,628
|
|
|
2011
|
|
2012
|
|
2601 Thornton Lane
|
Timonium, MD
|
|
—
|
|
|
8,829
|
|
|
12,568
|
|
|
30
|
|
|
8,850
|
|
|
12,577
|
|
|
794
|
|
|
2015
|
|
2017
|
|
2118 Greenspring Drive
|
Tucson, AZ
|
|
—
|
|
|
1,302
|
|
|
4,925
|
|
|
990
|
|
|
1,325
|
|
|
5,892
|
|
|
2,886
|
|
|
2008
|
|
1995
|
|
2055 W. Hospital Dr.
|
Tustin, CA
|
|
—
|
|
|
3,345
|
|
|
541
|
|
|
325
|
|
|
3,345
|
|
|
866
|
|
|
290
|
|
|
2015
|
|
1976
|
|
14591 Newport Ave
|
Tustin, CA
|
|
—
|
|
|
3,361
|
|
|
12,039
|
|
|
1,880
|
|
|
3,361
|
|
|
13,919
|
|
|
2,891
|
|
|
2015
|
|
1985
|
|
14642 Newport Ave
|
Van Nuys, CA
|
|
—
|
|
|
—
|
|
|
36,187
|
|
|
—
|
|
|
—
|
|
|
36,187
|
|
|
9,842
|
|
|
2009
|
|
1991
|
|
6815 Noble Ave.
|
Voorhees, NJ
|
|
—
|
|
|
6,404
|
|
|
24,251
|
|
|
1,816
|
|
|
6,477
|
|
|
25,994
|
|
|
9,866
|
|
|
2006
|
|
1997
|
|
900 Centennial Blvd.
|
Voorhees, NJ
|
|
—
|
|
|
6
|
|
|
96,075
|
|
|
447
|
|
|
99
|
|
|
96,429
|
|
|
25,331
|
|
|
2010
|
|
2012
|
|
200 Bowman Drive
|
Waco, TX
|
|
—
|
|
|
601
|
|
|
2,594
|
|
|
—
|
|
|
601
|
|
|
2,594
|
|
|
—
|
|
|
2018
|
|
2000
|
|
6600 Fish Pond Rd
|
Waco, TX
|
|
14,930
|
|
|
2,250
|
|
|
28,632
|
|
|
—
|
|
|
2,250
|
|
|
28,632
|
|
|
—
|
|
|
2018
|
|
1981
|
|
601 Highway 6 West
|
Washington, PA
|
|
19,425
|
|
|
3,981
|
|
|
31,706
|
|
|
—
|
|
|
3,981
|
|
|
31,706
|
|
|
—
|
|
|
2018
|
|
2010
|
|
100 Trich Drive
|
Wausau, WI
|
|
—
|
|
|
2,050
|
|
|
12,175
|
|
|
—
|
|
|
2,050
|
|
|
12,175
|
|
|
788
|
|
|
2015
|
|
2017
|
|
1901 Westwood Center Boulevard
|
(Dollars in thousands)
|
|
|
||||||||||||||||||||||||||||||||
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Building & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Building & Improvements
|
|
Accumulated Depreciation(1)
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
||||||||||||||
Outpatient Medical:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Waxahachie, TX
|
|
—
|
|
|
—
|
|
|
18,784
|
|
|
230
|
|
|
303
|
|
|
18,711
|
|
|
1,749
|
|
|
2016
|
|
2014
|
|
2460 N I-35 East
|
|||||||
Wellington, FL
|
|
—
|
|
|
107
|
|
|
16,933
|
|
|
2,705
|
|
|
326
|
|
|
19,419
|
|
|
7,051
|
|
|
2006
|
|
2000
|
|
10115 Forest Hill Blvd.
|
|||||||
Wellington, FL
|
|
—
|
|
|
388
|
|
|
13,697
|
|
|
1,756
|
|
|
580
|
|
|
15,261
|
|
|
5,163
|
|
|
2007
|
|
2003
|
|
1395 State Rd. 7
|
|||||||
West Seneca, NY
|
|
—
|
|
|
917
|
|
|
22,435
|
|
|
4,230
|
|
|
1,665
|
|
|
25,917
|
|
|
10,390
|
|
|
2007
|
|
1990
|
|
550 Orchard Park Rd
|
|||||||
Westlake Village, CA
|
|
6,360
|
|
|
2,487
|
|
|
9,776
|
|
|
—
|
|
|
2,487
|
|
|
9,776
|
|
|
154
|
|
|
2018
|
|
1989
|
|
1220 La Venta Drive
|
|||||||
Westlake Village, CA
|
|
8,002
|
|
|
2,553
|
|
|
15,851
|
|
|
—
|
|
|
2,553
|
|
|
15,851
|
|
|
214
|
|
|
2018
|
|
1975
|
|
1250 La Venta Drive
|
|||||||
Woodbridge, VA
|
|
—
|
|
|
346
|
|
|
16,629
|
|
|
—
|
|
|
346
|
|
|
16,629
|
|
|
—
|
|
|
2018
|
|
2012
|
|
12825 Minnieville Road
|
|||||||
Zephyrhills, FL
|
|
—
|
|
|
3,875
|
|
|
27,270
|
|
|
—
|
|
|
3,875
|
|
|
27,270
|
|
|
6,850
|
|
|
2011
|
|
1974
|
|
38135 Market Square Dr
|
|||||||
Zephyrhills, FL
|
|
—
|
|
|
5,927
|
|
|
29,082
|
|
|
—
|
|
|
5,927
|
|
|
29,082
|
|
|
742
|
|
|
2018
|
|
2016
|
|
2352 Bruce B Downs Boulevard
|
|||||||
Outpatient Medical Total
|
|
$
|
386,737
|
|
|
$
|
645,891
|
|
|
$
|
5,233,682
|
|
|
$
|
357,411
|
|
|
$
|
712,257
|
|
|
$
|
5,524,727
|
|
|
$
|
1,276,138
|
|
|
|
|
|
|
|
Welltower Inc.
|
|
|
||||||||||||||||||||||||||||||||
Schedule III
|
|
|
||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation
|
|
|
||||||||||||||||||||||||||||||||
December 31, 2018
|
|
|
||||||||||||||||||||||||||||||||
(Dollars in thousands)
|
|
|
||||||||||||||||||||||||||||||||
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Buildings & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Buildings & Improvements
|
|
Accumulated Depreciation
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
||||||||||||||
Assets Held For Sale:
|
|
|
||||||||||||||||||||||||||||||||
Agawam, MA
|
|
$
|
—
|
|
|
$
|
880
|
|
|
$
|
10,044
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
8,696
|
|
|
$
|
—
|
|
|
2011
|
|
1996
|
|
153 Cardinal Drive
|
Agawam, MA
|
|
—
|
|
|
1,230
|
|
|
13,618
|
|
|
—
|
|
|
—
|
|
|
6,074
|
|
|
—
|
|
|
2011
|
|
1975
|
|
61 Cooper Street
|
|||||||
Agawam, MA
|
|
—
|
|
|
930
|
|
|
15,304
|
|
|
—
|
|
|
—
|
|
|
6,511
|
|
|
—
|
|
|
2011
|
|
1970
|
|
55 Cooper Street
|
|||||||
Agawam, MA
|
|
—
|
|
|
920
|
|
|
10,661
|
|
|
—
|
|
|
—
|
|
|
4,592
|
|
|
—
|
|
|
2011
|
|
1985
|
|
464 Main Street
|
|||||||
Agawam, MA
|
|
—
|
|
|
920
|
|
|
10,562
|
|
|
—
|
|
|
—
|
|
|
4,537
|
|
|
—
|
|
|
2011
|
|
1967
|
|
65 Cooper Street
|
|||||||
Ayer, MA
|
|
—
|
|
|
—
|
|
|
22,074
|
|
|
—
|
|
|
—
|
|
|
8,691
|
|
|
—
|
|
|
2011
|
|
1988
|
|
400 Groton Road
|
|||||||
Beachwood, OH
|
|
—
|
|
|
1,260
|
|
|
23,478
|
|
|
—
|
|
|
—
|
|
|
10,503
|
|
|
—
|
|
|
2001
|
|
1990
|
|
3800 Park East Drive
|
|||||||
Birmingham, UKG
|
|
—
|
|
|
4
|
|
|
21,321
|
|
|
—
|
|
|
—
|
|
|
13,200
|
|
|
—
|
|
|
2013
|
|
2006
|
|
5 Church Road, Edgbaston
|
|||||||
Bridgewater, NJ
|
|
—
|
|
|
1,850
|
|
|
3,050
|
|
|
—
|
|
|
—
|
|
|
3,342
|
|
|
—
|
|
|
2004
|
|
1970
|
|
875 Route 202/206 North
|
|||||||
Broadview Heights, OH
|
|
—
|
|
|
920
|
|
|
12,400
|
|
|
—
|
|
|
—
|
|
|
9,590
|
|
|
—
|
|
|
2001
|
|
1984
|
|
2801 E. Royalton Rd.
|
|||||||
Canton, MA
|
|
—
|
|
|
820
|
|
|
8,201
|
|
|
—
|
|
|
—
|
|
|
2,626
|
|
|
—
|
|
|
2002
|
|
1993
|
|
One Meadowbrook Way
|
|||||||
Centerville, MA
|
|
—
|
|
|
1,300
|
|
|
27,357
|
|
|
—
|
|
|
—
|
|
|
23,139
|
|
|
—
|
|
|
2011
|
|
1998
|
|
22 Richardson Road
|
|||||||
Charles Town, WV
|
|
—
|
|
|
230
|
|
|
22,834
|
|
|
—
|
|
|
—
|
|
|
18,509
|
|
|
—
|
|
|
2011
|
|
1997
|
|
219 Prospect Ave
|
|||||||
Cinnaminson, NJ
|
|
—
|
|
|
860
|
|
|
6,663
|
|
|
—
|
|
|
—
|
|
|
6,014
|
|
|
—
|
|
|
2011
|
|
1965
|
|
1700 Wynwood Drive
|
|||||||
Cloquet, MN
|
|
—
|
|
|
340
|
|
|
4,660
|
|
|
—
|
|
|
—
|
|
|
4,285
|
|
|
—
|
|
|
2011
|
|
2006
|
|
705 Horizon Circle
|
|||||||
Concord, NH
|
|
—
|
|
|
720
|
|
|
3,041
|
|
|
—
|
|
|
—
|
|
|
3,344
|
|
|
—
|
|
|
2011
|
|
1926
|
|
227 Pleasant Street
|
|||||||
Dallas, TX
|
|
—
|
|
|
1,080
|
|
|
9,655
|
|
|
—
|
|
|
—
|
|
|
4,412
|
|
|
—
|
|
|
2011
|
|
1997
|
|
3611 Dickason Avenue
|
|||||||
Gettysburg, PA
|
|
—
|
|
|
590
|
|
|
8,913
|
|
|
—
|
|
|
—
|
|
|
7,501
|
|
|
—
|
|
|
2011
|
|
1987
|
|
867 York Road
|
|||||||
Glastonbury, CT
|
|
—
|
|
|
1,950
|
|
|
9,532
|
|
|
—
|
|
|
—
|
|
|
5,500
|
|
|
—
|
|
|
2011
|
|
1966
|
|
72 Salmon Brook Drive
|
|||||||
Hamburg, PA
|
|
—
|
|
|
840
|
|
|
10,543
|
|
|
—
|
|
|
—
|
|
|
8,994
|
|
|
—
|
|
|
2011
|
|
1966
|
|
125 Holly Road
|
|||||||
Houston, TX
|
|
—
|
|
|
5,090
|
|
|
9,471
|
|
|
—
|
|
|
—
|
|
|
7,840
|
|
|
—
|
|
|
2007
|
|
2009
|
|
15015 Cypress Woods Medical Drive
|
|||||||
Lancaster, NH
|
|
—
|
|
|
160
|
|
|
434
|
|
|
—
|
|
|
—
|
|
|
493
|
|
|
—
|
|
|
2011
|
|
1905
|
|
63 Country Village Road
|
|||||||
Langhorne, PA
|
|
—
|
|
|
1,350
|
|
|
24,881
|
|
|
—
|
|
|
—
|
|
|
3,551
|
|
|
—
|
|
|
2011
|
|
1979
|
|
262 Toll Gate Road
|
|||||||
Lowell, MA
|
|
—
|
|
|
1,070
|
|
|
13,481
|
|
|
—
|
|
|
—
|
|
|
1,960
|
|
|
—
|
|
|
2011
|
|
1975
|
|
841 Merrimack Street
|
|||||||
Lowell, MA
|
|
—
|
|
|
680
|
|
|
3,378
|
|
|
—
|
|
|
—
|
|
|
3,155
|
|
|
—
|
|
|
2011
|
|
1969
|
|
30 Princeton Blvd
|
|||||||
Mendham, NJ
|
|
—
|
|
|
1,240
|
|
|
27,169
|
|
|
—
|
|
|
—
|
|
|
23,295
|
|
|
—
|
|
|
2011
|
|
1968
|
|
84 Cold Hill Road
|
|||||||
Merriam, KS
|
|
—
|
|
|
—
|
|
|
1,996
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2011
|
|
1980
|
|
7301 Frontage Street
|
|||||||
Merriam, KS
|
|
—
|
|
|
—
|
|
|
5,862
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2011
|
|
1985
|
|
9119 West 74th Street
|
|||||||
Middletown, RI
|
|
—
|
|
|
2,480
|
|
|
24,628
|
|
|
—
|
|
|
—
|
|
|
21,727
|
|
|
—
|
|
|
2011
|
|
1998
|
|
303 Valley Road
|
|||||||
Millville, NJ
|
|
—
|
|
|
840
|
|
|
29,944
|
|
|
—
|
|
|
—
|
|
|
24,559
|
|
|
—
|
|
|
2011
|
|
1986
|
|
54 Sharp Street
|
|||||||
Monroe Twp, NJ
|
|
—
|
|
|
1,160
|
|
|
13,193
|
|
|
—
|
|
|
—
|
|
|
11,403
|
|
|
—
|
|
|
2011
|
|
1996
|
|
292 Applegarth Road
|
|||||||
Mystic, CT
|
|
—
|
|
|
1,400
|
|
|
18,274
|
|
|
—
|
|
|
—
|
|
|
15,316
|
|
|
—
|
|
|
2011
|
|
2001
|
|
20 Academy Lane Mystic
|
|||||||
Niantic, CT
|
|
—
|
|
|
1,320
|
|
|
25,986
|
|
|
—
|
|
|
—
|
|
|
25,167
|
|
|
—
|
|
|
2011
|
|
2001
|
|
417 Main Street
|
|||||||
North Cape May, NJ
|
|
—
|
|
|
77
|
|
|
151
|
|
|
48
|
|
|
—
|
|
|
276
|
|
|
—
|
|
|
2015
|
|
1988
|
|
610 Town Bank Road
|
|||||||
North Cape May, NJ
|
|
—
|
|
|
600
|
|
|
22,266
|
|
|
—
|
|
|
—
|
|
|
18,270
|
|
|
—
|
|
|
2011
|
|
1995
|
|
700 Townbank Road
|
|||||||
Palm Springs, FL
|
|
—
|
|
|
739
|
|
|
4,066
|
|
|
—
|
|
|
—
|
|
|
2,061
|
|
|
—
|
|
|
2006
|
|
1993
|
|
1640 S. Congress Ave.
|
|||||||
Palm Springs, FL
|
|
—
|
|
|
1,182
|
|
|
7,765
|
|
|
—
|
|
|
—
|
|
|
3,477
|
|
|
—
|
|
|
2006
|
|
1997
|
|
1630 S. Congress Ave.
|
(Dollars in thousands)
|
|
|
||||||||||||||||||||||||||||||||
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
|
|
|
|
|
|
||||||||||||||||||||
Description
|
|
Encumbrances
|
|
Land
|
|
Buildings & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Buildings & Improvements
|
|
Accumulated Depreciation
|
|
Year Acquired
|
|
Year Built
|
|
Address
|
||||||||||||||
Assets Held For Sale:
|
|
|
||||||||||||||||||||||||||||||||
Pennsauken, NJ
|
|
—
|
|
|
900
|
|
|
10,780
|
|
|
—
|
|
|
—
|
|
|
9,172
|
|
|
—
|
|
|
2011
|
|
1985
|
|
5101 North Park Drive
|
|||||||
Providence, RI
|
|
—
|
|
|
2,655
|
|
|
21,910
|
|
|
—
|
|
|
—
|
|
|
16,021
|
|
|
—
|
|
|
2011
|
|
1998
|
|
700 Smith Street
|
|||||||
Rockville, CT
|
|
—
|
|
|
1,500
|
|
|
4,835
|
|
|
—
|
|
|
—
|
|
|
5,073
|
|
|
—
|
|
|
2011
|
|
1960
|
|
1253 Hartford Turnpike
|
|||||||
Sanatoga, PA
|
|
—
|
|
|
980
|
|
|
30,695
|
|
|
—
|
|
|
—
|
|
|
14,166
|
|
|
—
|
|
|
2011
|
|
1993
|
|
225 Evergreen Road
|
|||||||
South Boston, MA
|
|
—
|
|
|
385
|
|
|
2,002
|
|
|
1,525
|
|
|
—
|
|
|
3,912
|
|
|
—
|
|
|
1995
|
|
1961
|
|
804 E. Seventh St.
|
|||||||
South Windsor, CT
|
|
—
|
|
|
3,000
|
|
|
29,295
|
|
|
—
|
|
|
—
|
|
|
26,338
|
|
|
—
|
|
|
2011
|
|
1999
|
|
432 Buckland Road
|
|||||||
Swanton, OH
|
|
—
|
|
|
330
|
|
|
6,370
|
|
|
—
|
|
|
—
|
|
|
4,160
|
|
|
—
|
|
|
2004
|
|
1950
|
|
401 W. Airport Hwy.
|
|||||||
Troy, OH
|
|
—
|
|
|
470
|
|
|
16,730
|
|
|
—
|
|
|
—
|
|
|
10,730
|
|
|
—
|
|
|
2004
|
|
1971
|
|
512 Crescent Drive
|
|||||||
Trumbull, CT
|
|
—
|
|
|
2,850
|
|
|
37,685
|
|
|
—
|
|
|
—
|
|
|
32,020
|
|
|
—
|
|
|
2011
|
|
1998
|
|
2750 Reservoir Avenue
|
|||||||
Wallingford, CT
|
|
—
|
|
|
490
|
|
|
1,210
|
|
|
—
|
|
|
—
|
|
|
727
|
|
|
—
|
|
|
2011
|
|
1962
|
|
35 Marc Drive
|
|||||||
Warwick, RI
|
|
—
|
|
|
2,400
|
|
|
24,635
|
|
|
—
|
|
|
—
|
|
|
21,633
|
|
|
—
|
|
|
2011
|
|
1998
|
|
75 Minnesota Avenue
|
|||||||
Waterbury, CT
|
|
—
|
|
|
2,460
|
|
|
39,547
|
|
|
—
|
|
|
—
|
|
|
30,909
|
|
|
—
|
|
|
2011
|
|
1998
|
|
180 Scott Road
|
|||||||
West Chester, PA
|
|
—
|
|
|
1,350
|
|
|
29,237
|
|
|
—
|
|
|
—
|
|
|
24,564
|
|
|
—
|
|
|
2011
|
|
1974
|
|
800 West Miner Street
|
|||||||
West Orange, NJ
|
|
—
|
|
|
2,280
|
|
|
10,687
|
|
|
—
|
|
|
—
|
|
|
10,571
|
|
|
—
|
|
|
2011
|
|
1963
|
|
20 Summit Street
|
|||||||
Westlake, OH
|
|
—
|
|
|
1,330
|
|
|
17,926
|
|
|
—
|
|
|
—
|
|
|
8,673
|
|
|
—
|
|
|
2001
|
|
1985
|
|
27601 Westchester Pkwy.
|
|||||||
Wilbraham, MA
|
|
—
|
|
|
660
|
|
|
17,639
|
|
|
—
|
|
|
—
|
|
|
14,484
|
|
|
—
|
|
|
2011
|
|
2000
|
|
2387 Boston Road
|
|||||||
Wilkes-Barre, PA
|
|
—
|
|
|
570
|
|
|
2,301
|
|
|
—
|
|
|
—
|
|
|
1,176
|
|
|
—
|
|
|
2011
|
|
1992
|
|
300 Courtright Street
|
|||||||
Windsor, CT
|
|
—
|
|
|
2,250
|
|
|
8,539
|
|
|
—
|
|
|
—
|
|
|
10,218
|
|
|
—
|
|
|
2011
|
|
1969
|
|
One Emerson Drive
|
|||||||
Windsor, CT
|
|
—
|
|
|
1,800
|
|
|
600
|
|
|
424
|
|
|
—
|
|
|
2,824
|
|
|
—
|
|
|
2011
|
|
1974
|
|
One Emerson Drive
|
|||||||
Wyncote, PA
|
|
—
|
|
|
2,700
|
|
|
22,244
|
|
|
—
|
|
|
—
|
|
|
20,290
|
|
|
—
|
|
|
2011
|
|
1960
|
|
1245 Church Road
|
|||||||
Assets Held For Sale Total
|
|
$
|
—
|
|
|
$
|
68,392
|
|
|
$
|
821,723
|
|
|
$
|
1,997
|
|
|
$
|
—
|
|
|
$
|
590,271
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
Initial Cost to Company
|
|
|
|
Gross Amount at Which Carried at Close of Period
|
||||||||||||||||||||
|
|
Encumbrances
|
|
Land
|
|
Buildings & Improvements
|
|
Cost Capitalized Subsequent to Acquisition
|
|
Land
|
|
Buildings & Improvements
|
|
Accumulated Depreciation
|
||||||||||||||
Summary:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Seniors Housing Operating
|
|
$
|
1,810,587
|
|
|
$
|
1,331,171
|
|
|
$
|
14,047,033
|
|
|
$
|
1,206,757
|
|
|
$
|
1,373,258
|
|
|
$
|
15,211,900
|
|
|
$
|
2,962,334
|
|
Triple-net
|
|
288,387
|
|
|
1,096,169
|
|
|
8,585,481
|
|
|
301,960
|
|
|
1,119,576
|
|
|
8,864,034
|
|
|
1,261,486
|
|
|||||||
Outpatient Medical
|
|
386,737
|
|
|
645,891
|
|
|
5,233,682
|
|
|
357,411
|
|
|
712,257
|
|
|
5,524,727
|
|
|
1,276,138
|
|
|||||||
Construction in progress
|
|
—
|
|
|
—
|
|
|
194,365
|
|
|
—
|
|
|
—
|
|
|
194,365
|
|
|
—
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Total continuing operating properties
|
|
2,485,711
|
|
|
3,073,231
|
|
|
28,060,561
|
|
|
1,866,128
|
|
|
3,205,091
|
|
|
29,795,026
|
|
|
5,499,958
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Assets held for sale
|
|
—
|
|
|
68,392
|
|
|
821,723
|
|
|
1,997
|
|
|
—
|
|
|
590,271
|
|
|
—
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Total investments in real property owned
|
|
$
|
2,485,711
|
|
|
$
|
3,141,623
|
|
|
$
|
28,882,284
|
|
|
$
|
1,868,125
|
|
|
$
|
3,205,091
|
|
|
$
|
30,385,297
|
|
|
$
|
5,499,958
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
2016
|
||||||
|
|
|
|
(in thousands)
|
|
|
||||||
Investment in real estate:
|
|
|
|
|
|
|
||||||
Beginning balance
|
|
$
|
30,581,948
|
|
|
$
|
30,041,058
|
|
|
$
|
29,865,490
|
|
Acquisitions and development
|
|
4,598,670
|
|
|
1,276,636
|
|
|
2,834,279
|
|
|||
Improvements
|
|
266,183
|
|
|
250,276
|
|
|
219,146
|
|
|||
Deconsolidation of previously consolidated venture
|
|
—
|
|
|
(144,897
|
)
|
|
—
|
|
|||
Impairment of assets
|
|
(71,336
|
)
|
|
(101,527
|
)
|
|
(37,207
|
)
|
|||
Dispositions
|
|
(1,330,679
|
)
|
|
(1,203,247
|
)
|
|
(2,411,219
|
)
|
|||
Foreign currency translation
|
|
(454,398
|
)
|
|
415,879
|
|
|
(429,431
|
)
|
|||
Other(1)
|
|
—
|
|
|
47,770
|
|
|
—
|
|
|||
Ending balance(2)
|
|
$
|
33,590,388
|
|
|
$
|
30,581,948
|
|
|
$
|
30,041,058
|
|
|
|
|
|
|
|
|
||||||
Accumulated depreciation:
|
|
|
|
|
|
|
||||||
Beginning balance
|
|
$
|
4,838,370
|
|
|
$
|
4,093,494
|
|
|
$
|
3,796,297
|
|
Depreciation and amortization expenses
|
|
950,459
|
|
|
921,720
|
|
|
901,242
|
|
|||
Amortization of above market leases
|
|
6,375
|
|
|
7,303
|
|
|
7,909
|
|
|||
Disposition and other
|
|
(205,562
|
)
|
|
(192,029
|
)
|
|
(514,651
|
)
|
|||
Foreign currency translation
|
|
(89,684
|
)
|
|
7,882
|
|
|
(97,303
|
)
|
|||
Ending balance
|
|
$
|
5,499,958
|
|
|
$
|
4,838,370
|
|
|
$
|
4,093,494
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2018
|
|
2017
|
|
2016
|
||||||
Reconciliation of mortgage loans:
|
|
(in thousands)
|
||||||||||
Balance at beginning of year
|
|
$
|
306,120
|
|
|
$
|
485,735
|
|
|
$
|
635,492
|
|
Additions:
|
|
|
|
|
|
|
||||||
New mortgage loans
|
|
25,290
|
|
|
6,706
|
|
|
8,223
|
|
|||
Draws on existing loans
|
|
36,458
|
|
|
58,224
|
|
|
92,815
|
|
|||
Total Additions
|
|
61,748
|
|
|
64,930
|
|
|
101,038
|
|
|||
|
|
|
|
|
|
|
||||||
Deductions:
|
|
|
|
|
|
|
||||||
Collections of principal
|
|
(116,905
|
)
|
|
(180,135
|
)
|
|
(191,134
|
)
|
|||
Conversions to real property
|
|
—
|
|
|
—
|
|
|
(45,044
|
)
|
|||
Change in allowance for loan losses and charge-offs
|
|
—
|
|
|
(71,535
|
)
|
|
(3,053
|
)
|
|||
Total deductions
|
|
(116,905
|
)
|
|
(251,670
|
)
|
|
(239,231
|
)
|
|||
Change in balance due to foreign currency translation
|
|
(1,892
|
)
|
|
7,125
|
|
|
(11,564
|
)
|
|||
Balance at end of year
|
|
$
|
249,071
|
|
|
$
|
306,120
|
|
|
$
|
485,735
|
|
1.
|
Title and Responsibilities. You will continue to serve as the Company’s Chief Financial Officer and as an Executive Vice President of the Company. You will be based in the Company’s New York, New York office. You will work from this office except when traveling on behalf of the Company. You will continue to report to the Company’s Chief Executive Officer.
|
2.
|
Commencement Date. November 1, 2018.
|
3.
|
Compensation. Your annual base salary will continue to be USD $600,000. Your base salary will be paid in installments in accordance with the Company’s standard payroll practices in the United States. Future adjustments to base salary will be subject to annual review by the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”).
|
4.
|
Short-term Incentive. You will be eligible for an annual bonus based on the Company’s fiscal year determined by performance against a combination of Company and individual performance factors. The current target bonus for this position is 150% of base salary. The determination of the amount of your annual bonus, the level of your achievement of the relevant Company and individual performance factors, and the target bonus percentage for future fiscal years of the Company shall be determined by the Compensation Committee.
|
5.
|
Relocation Expenses. In connection with the relocation of your job from the United Kingdom to the United States, Welltower has provided you with certain relocation benefits. Those benefits are set forth in separate written documentation that you have previously received and executed on August 18, 2018.
|
6.
|
Participation in Stock Plan. You will remain eligible to participate in the Company’s annual Long-Term Incentive Programs (“LTIP”). Any future awards that you receive under the LTIP will be determined by the Compensation Committee in its sole discretion. Any and all payments (i.e., quarterly dividends or dividend equivalents) owed to you with respect to any equity awards granted to you will be paid in USD.
|
7.
|
Benefit Program. You will be entitled to participate in all Welltower benefit programs commensurate with other Welltower employees based in the United States, including but not limited to: health, life and disability programs, and in Welltower’s 401(k) plan and ESPP, subject to your satisfaction of any eligibility criteria. As detailed in Welltower’s Employee Handbook, you will become eligible to participate in the medical, dental, vision, life insurance and disability plans in accordance with their terms on and after November 1, 2018.
|
8.
|
Paid Time Off. You will be entitled to paid time off (“PTO”) (based on your number of years of service) in accordance with the Company’s PTO policy, as it may be amended from time to time.
|
9.
|
Compliance with Agreements. You acknowledge that you are not subject to any restrictions, contractual or otherwise, that could impair your ability to fulfill the terms of your employment with the Company. You have no business or personal relationships that would constitute a “conflict of interest.”
|
10.
|
Additional Terms and Conditions. Your employment will be subject to the terms of the Company’s Employee Handbook, a copy of which was previously provided to you and acknowledged in writing as having been read by you, and the terms of the Company’s standard employment policies and procedures covering such matters as business expense reimbursement, PTO, paid holidays and other time off policies, and sickness and injury, copies of which are available to you on the Company’s intranet. As of the close of business on Wednesday, October 31, 2018, the terms of your May 6, 2014 employment contract with the Company (as the assignee of HCN UK Management Services Limited), as amended by that certain Deed of Assignment and Amendment of Employment Contract dated December 7, 2017 (collectively, the “UK Employment Contract”), will be terminated without the need for any further action by any person and be of no further force or effect. You acknowledge and agree that you shall have no claim against the Company or any affiliate arising out of or connected with the UK Employment Contract or its termination and you hereby irrevocably waive any such claims or rights of action which you now have or may become aware of hereafter, with the exception of: (i) the payment of your salary, monthly pension contributions and private medical insurance allowance in respect of the period up to and including October 31, 2018; and (ii) any incentive awards previously granted to you, whether in the form of an annual cash incentive bonus opportunity or any award made under the Company’s equity compensation plans (i.e., the Welltower Inc. 2005 Long-Term Incentive Plan and the 2016 Long-Term Incentive Plan), which awards shall be governed exclusively by the rules of the plan or program under which they were granted.
|
11.
|
Employment-at-Will. You will be an employee-at-will.
|
12.
|
Governing Law. This letter agreement and your employment relationship with the Company on and after the Commencement Date will be governed by the laws of the State of New York, excluding any conflicts of law provisions thereof.
|
2019-2021 LTI – Forward Looking
|
Weighting
|
Threshold4
|
Target
|
High5
|
|
|
|
|
|
Relative Performance to Health Care REIT Index1
|
50%
|
-400 bps
|
0 bps
|
+ 400 bps
|
Relative Performance to All REIT Index (MSCI)2
|
25%
|
-400 bps
|
0 bps
|
+ 400 bps
|
(Net Debt + Preferred) / Adjusted Annualized EBITDA3
|
25%
|
6.7x
|
6.2x
|
5.7x
|
•
|
A Performance Award of [____] performance-based restricted stock units (the “Target Award”) on February 14, 2019 (the “Date of Grant”), payable in shares of Restricted Stock, subject to satisfaction of the restrictions, vesting conditions and other terms set forth in this Agreement.
|
•
|
An Other Stock Unit Award (the “Time-Based Award”) of [____] time-based restricted stock units on the Date of Grant, which shall vest and become payable in shares of Common Stock, subject to the Participant’s continued employment, in accordance with the following schedule: one-fourth of such shares will become fully vested and nonforfeitable on January 15, 2020, one-fourth of such shares will become fully vested and nonforfeitable on January 15, 2021, one-fourth of such shares will become fully vested and nonforfeitable on January 15, 2022, and one-fourth of such shares will become fully vested and nonforfeitable on January 15, 2023 (each such date, the “Vesting Date”).
|
|
EXHIBIT 21
|
|
|
Subsidiary Name
|
Jurisdiction of Organization
|
0722548 B.C. Ltd.
|
British Columbia
|
10 Devon Drive Acton LLC
|
Delaware
|
100 Knoedler Road, LLC
|
Delaware
|
100 Trich Drive LLC
|
Delaware
|
1000 Aston Gardens Drive, LLC
|
Delaware
|
101 Bickford Extension Avon LLC
|
Delaware
|
101 Membership Holding Company I of Pennsylvania, Inc.
|
Pennsylvania
|
101052983 Saskatchewan Ltd.
|
Saskatchewan
|
10225 Cypresswood Drive, LLC
|
Delaware
|
10475 Wilshire Boulevard Borrower, LLC
|
Delaware
|
10475 Wilshire Boulevard, LLC
|
Delaware
|
10600 East 13th Street North, LLC
|
Delaware
|
10700 Charter Drive LLC
|
Delaware
|
10710 Charter Drive LLC
|
Delaware
|
10800 Potomac Tennis Lane Holdco LLC
|
Delaware
|
10800 Potomac Tennis Lane LLC
|
Delaware
|
111 South Shore Drive East Haven LLC
|
Delaware
|
1118 N. Stoneman Avenue, LLC
|
Delaware
|
11320 North Council Road, LLC
|
Delaware
|
1133 Black Rock Road, LLC
|
Delaware
|
1137915 B.C. Ltd.
|
British Columbia
|
1160 Elm Street Rocky Hill LLC
|
Delaware
|
1160 Main Street Leominster LLC
|
Delaware
|
1185 Davidson Road, LLC
|
Delaware
|
1220 La Venta Drive Westlake Medical LLC
|
Delaware
|
1221 Seventh Street, LLC
|
Delaware
|
1231356 Ontario Limited
|
Ontario
|
1250 La Venta Drive Community Medical LLC
|
Delaware
|
126 Smith Street Waltham LLC
|
Delaware
|
12951 W. Linebaugh Avenue, LLC
|
Delaware
|
1301489 Ontario Limited
|
Ontario
|
13075 Evening Creek Drive South, LLC
|
Delaware
|
1311 Aston Gardens Court, LLC
|
Delaware
|
1312417 Ontario Limited
|
Ontario
|
13200 South May Avenue, LLC
|
Delaware
|
139 East 56th Street Investor LLC
|
Delaware
|
139 East 56th Street Landlord LLC
|
Delaware
|
139 East 56th Street Landlord Mezz LLC
|
Delaware
|
1405 Limekiln Pike, LLC
|
Delaware
|
14707 Northville Road, LLC
|
Delaware
|
1500 Borden Road, LLC
|
Delaware
|
1528670 Ontario Limited
|
Ontario
|
153 Cardinal Drive Agawam LLC
|
Delaware
|
15401 North Pennsylvania Avenue, LLC
|
Delaware
|
157 South Street Plymouth LLC
|
Delaware
|
1574 Creekside Drive Folsom, LLC
|
California
|
1600 Center Road, LLC
|
Delaware
|
1640 Newport Blvd. LP
|
Delaware
|
180 Scott Road Waterbury LLC
|
Delaware
|
1931 Southwest Arvonia Place, LLC
|
Delaware
|
1936 Brookdale Road, LLC
|
Delaware
|
199 Chelmsford Street Chelmsford LLC
|
Delaware
|
2 Technology Drive North Chelmsford LLC
|
Delaware
|
20 Academy Lane LLC
|
Delaware
|
20 Charnstaffe Lane Billerica LLC
|
Delaware
|
2000 Emerald Court LLC
|
Delaware
|
2003 Falls Boulevard Quincy LLC
|
Delaware
|
20207 Chasewood Park Drive LLC
|
Delaware
|
2035244 Ontario Inc.
|
Ontario
|
2050 North Webb Road, LLC
|
Delaware
|
21 Bradley Road Woodbridge LLC
|
Delaware
|
2101 New Hope Street, LLC
|
Delaware
|
22 Richardson Road Centerville LLC
|
Delaware
|
220 North Clark Drive, LLC
|
Delaware
|
2200 NW Myhre Road LLC
|
Delaware
|
2217 Decatur Highway LLC
|
Delaware
|
22955 Eastex Freeway, LLC
|
Delaware
|
2300 Washington Street Newton LLC
|
Delaware
|
231 Courtyard Boulevard, LLC
|
Delaware
|
2325 Rockwell Drive, LLC
|
Delaware
|
2340829 Ontario Inc.
|
Ontario
|
2340830 Ontario Inc.
|
Ontario
|
2387 Boston Road Wilbraham LLC
|
Delaware
|
239 Cross Road LLC
|
Delaware
|
240 E. Third Street, LLC
|
Delaware
|
2419 North Euclid Avenue Upland, LLC
|
California
|
242 Main Street Salem LLC
|
Delaware
|
246A Federal Road Brookfield LLC
|
Delaware
|
25 Cobb Street Mansfield LLC
|
Delaware
|
254 Amesbury Road Haverhill LLC
|
Delaware
|
27 Forest Falls Drive Yarmouth LLC
|
Delaware
|
27 Woodvale Road, LLC
|
Delaware
|
2721 Willow Street LP
|
Delaware
|
2750 Reservoir Avenue Trumbull LLC
|
Delaware
|
27783 Center Drive LP
|
Delaware
|
280 Newtonville Avenue Newton LLC
|
Delaware
|
2800 60th Avenue West, LLC
|
Delaware
|
2860 Country Drive, LLC
|
Delaware
|
2929 West Holcombe Boulevard, LLC
|
Delaware
|
300 Pleasant Street Concord LLC
|
Delaware
|
300 St. Albans Drive, LP
|
Delaware
|
303 Valley Road Middletown LLC
|
Delaware
|
303 West Lake Street LLC
|
Delaware
|
311 Main Street Shrewsbury LLC
|
Delaware
|
3220 Peterson Road, LLC
|
Delaware
|
340 May Street Worcester LLC
|
Delaware
|
3485 Independence Drive LLC
|
Delaware
|
35 Fenton Street, LLC
|
Delaware
|
35 Hamden Hills Drive Hamden LLC
|
Delaware
|
350 Locust Drive, LLC
|
Delaware
|
3535 Manchester Avenue Borrower, LLC
|
Delaware
|
3535 Manchester Avenue, LLC
|
Delaware
|
3535 N. Hall Street, LLC
|
Delaware
|
3650 Southeast 18th Avenue, LLC
|
Delaware
|
4 Forge Hill Road Franklin LLC
|
Delaware
|
4 Wallace Bashaw Junior Way LLC
|
Delaware
|
4000 San Pablo Parkway, LLC
|
Kansas
|
405 Bedford LP
|
Delaware
|
415 Bedford LP
|
Delaware
|
416 Bedford LP
|
Delaware
|
417 Main Street Niantic LLC
|
Delaware
|
4206 Stammer Place, LLC
|
Delaware
|
430 Centre Street Newton LLC
|
Delaware
|
430 North Union Road, LLC
|
Delaware
|
4310 Bee Cave Road, LLC
|
Delaware
|
4315 Johns Creek Parkway, LLC
|
Delaware
|
432 Buckland Road South Windsor LLC
|
Delaware
|
435 Bedford LLC
|
Delaware
|
4402 South 129th Avenue West, LLC
|
Delaware
|
444 Merrick Road LLC
|
Delaware
|
450 South Kitsap Boulevard LLC
|
Delaware
|
4500 Dorr Street Holdings, LLC
|
Delaware
|
4775 Village Drive, LLC
|
Delaware
|
4800 Aston Gardens Way, LLC
|
Delaware
|
4855 Snyder Lane, LLC
|
Delaware
|
5 Corporate Drive Bedford LLC
|
Delaware
|
50 Greenleaf Way LLC
|
Delaware
|
50 Sutherland Road Brighton LLC
|
Delaware
|
50 Town Court, LLC
|
Delaware
|
500 Seven Fields Boulevard, LLC
|
Delaware
|
504 North River Road, LLC
|
Delaware
|
505 North Maize Road, LLC
|
Delaware
|
511 Kensington Avenue Meriden LLC
|
Delaware
|
5300 West 29th Street, LLC
|
Delaware
|
5301 Creedmoor Road, LP
|
Delaware
|
5455 Glenridge Drive, NE, LLC
|
Delaware
|
5521 Village Creek Drive, LLC
|
Delaware
|
557140 B.C. Ltd.
|
British Columbia
|
5939 Roosevelt Boulevard, LLC
|
Kansas
|
5999 N. University Drive, LLC
|
Delaware
|
60 Stafford Street LLC
|
Delaware
|
601 West Highway 6 LLC
|
Delaware
|
6011 Farrington Road LLC
|
Delaware
|
6144 Airport Boulevard LLC
|
Delaware
|
640 Danbury Road Ridgefield LLC
|
Delaware
|
645 Saybrook Road Middletown LLC
|
Delaware
|
6605 Quail Hollow Road, LLC
|
Delaware
|
674 West Hollis Street Nashua LLC
|
Delaware
|
687 Harbor Road Shelburne LLC
|
Delaware
|
700 Chickering Road North Andover LLC
|
Delaware
|
700 Smith Street Providence LLC
|
Delaware
|
7001 Forest Avenue, LLC
|
Delaware
|
701 Market Street, LLC
|
Delaware
|
701 W. 71st Street South, LLC
|
Delaware
|
708A Bridgeport Avenue Shelton LLC
|
Delaware
|
731 Old Buck Lane, LLC
|
Delaware
|
75 Minnesota Avenue Warwick LLC
|
Delaware
|
77 Plains Road LLC
|
Delaware
|
7900 Creedmoor Road, LP
|
Delaware
|
7902 South Mingo Road East, LLC
|
Delaware
|
7950 Baybranch Drive, LLC
|
Delaware
|
799 Yellowstone Drive, LLC
|
Delaware
|
800 Canadian Trails Drive, LLC
|
Delaware
|
800 Oregon Street, LLC
|
Delaware
|
8010 East Mississippi Avenue, LLC
|
Delaware
|
8220 Natures Way, LLC
|
Delaware
|
831 Santa Barbara Boulevard, LLC
|
Delaware
|
867 York Road Associates, LLC
|
Pennsylvania
|
880 Greendale Avenue LLC
|
Delaware
|
9 Summer Street Danvers LLC
|
Delaware
|
90 Avenue S.W. Property Inc.
|
British Columbia
|
90 West Avenue, LLC
|
Delaware
|
9108-9458 Quebec Inc.
|
Quebec
|
9128-6757 Quebec Inc.
|
Quebec
|
9131-6844 Quebec Inc.
|
Quebec
|
9168-0215 Quebec Inc.
|
Quebec
|
9188-4502 Quebec Inc.
|
Quebec
|
9189-2042 Quebec Inc.
|
Quebec
|
9198-9541 Quebec Inc.
|
Quebec
|
9208-0837 Quebec Inc.
|
Quebec
|
9307-0985 Quebec Inc.
|
Quebec
|
9307-1306 Quebec Inc.
|
Quebec
|
9307-1348 Quebec Inc.
|
Quebec
|
9314-3410 Quebec Inc.
|
Quebec
|
935 Union Lake Road, LLC
|
Delaware
|
965 Hager Drive, LLC
|
Delaware
|
ADS/Multicare, Inc.
|
Delaware
|
AL Santa Monica Senior Housing, LP
|
Delaware
|
Alberta Acres Facility Inc.
|
Ontario
|
Amherst View (Bath Road) Facility Inc.
|
Ontario
|
Apple Valley Operating Corp.
|
Massachusetts
|
ARC Minnetonka, LLC
|
Delaware
|
ARC Tucson, LLC
|
Delaware
|
Arcadia Associates
|
Massachusetts
|
Arnprior Villa Facility Inc.
|
Ontario
|
ASL, Inc.
|
Massachusetts
|
Aurora Propco 1 Limited
|
United Kingdom
|
Aurora Propco 2 Limited
|
United Kingdom
|
Avery Healthcare Group Limited
|
United Kingdom
|
BAL Holdings II, LLC
|
Delaware
|
BAL Holdings VII, LLC
|
Delaware
|
BAL Howell LLC
|
Delaware
|
BAL Longwood LLC
|
Pennsylvania
|
Ballard Healthcare Investors, LLC
|
Delaware
|
Baton Rouge LA Senior Living Owner, LLC
|
Delaware
|
Bayfield Court Operations Limited
|
United Kingdom
|
Bel Air Healthcare Investors, LLC
|
Delaware
|
Belmont Village Buckhead Tenant, LLC
|
Delaware
|
Belmont Village Buffalo Grove Tenant, LLC
|
Delaware
|
Belmont Village Buffalo Grove, L.L.C.
|
Delaware
|
Belmont Village Burbank Tenant, LLC
|
Delaware
|
Belmont Village Burbank, LLC
|
Delaware
|
Belmont Village Cardiff Tenant, LLC
|
Delaware
|
Belmont Village Carol Stream, L.L.C.
|
Delaware
|
Belmont Village Encino Tenant, LLC
|
Delaware
|
Belmont Village Encino, LLC
|
Delaware
|
Belmont Village Geneva Road Tenant, LLC
|
Delaware
|
Belmont Village Glenview Tenant, LLC
|
Delaware
|
Belmont Village Glenview, L.L.C.
|
Delaware
|
Belmont Village Green Hills Tenant, LLC
|
Delaware
|
Belmont Village Hollywood Tenant, LLC
|
Delaware
|
Belmont Village Hollywood, LLC
|
Delaware
|
Belmont Village Johns Creek Tenant, LLC
|
Delaware
|
Belmont Village Landlord 3, LLC
|
Delaware
|
Belmont Village Landlord 4, LP
|
Delaware
|
Belmont Village Landlord, LLC
|
Delaware
|
Belmont Village Memphis Tenant, LLC
|
Delaware
|
Belmont Village Oak Park Tenant, LLC
|
Delaware
|
Belmont Village Oak Park, L.L.C.
|
Delaware
|
Belmont Village Rancho Palos Verdes Tenant, LLC
|
Delaware
|
Belmont Village RPV, LLC
|
Delaware
|
Belmont Village Sabre Springs Tenant, LLC
|
Delaware
|
Belmont Village San Jose Tenant, LLC
|
Delaware
|
Belmont Village San Jose, LLC
|
Delaware
|
Belmont Village St. Matthews Tenant, LLC
|
Delaware
|
Belmont Village St. Matthews, L.L.C.
|
Delaware
|
Belmont Village Sunnyvale Tenant, LLC
|
Delaware
|
Belmont Village Sunnyvale, LLC
|
Delaware
|
Belmont Village Tenant 2, LLC
|
Delaware
|
Belmont Village Tenant 3, LLC
|
Delaware
|
Belmont Village Tenant, LLC
|
Delaware
|
Belmont Village Turtle Creek Tenant, LLC
|
Delaware
|
Belmont Village West Lake Hills Tenant, LLC
|
Delaware
|
Belmont Village West University Tenant, LLC
|
Delaware
|
Belmont Village Westwood Tenant, LLC
|
Delaware
|
Benchmark Investments X LLC
|
Delaware
|
Benchmark Investments XI LLC
|
Delaware
|
Benchmark Investments XII LLC
|
Delaware
|
Benchmark Investments XIV LLC
|
Delaware
|
Berks Nursing Homes, Inc.
|
Pennsylvania
|
Berkshire Subtenant LP
|
Delaware
|
BKD-HCN Landlord, LLC
|
Delaware
|
BKD-HCN Tenant, LLC
|
Delaware
|
Boardman Physicians LLC
|
Delaware
|
Breyut Convalescent Center, L.L.C.
|
New Jersey
|
Broadway 85th Investor LLC
|
Delaware
|
Broadway 85th Landlord Mezz LLC
|
Delaware
|
Broadway 85th LLC
|
Delaware
|
Broadway 85th Tenant LLC
|
Delaware
|
Broadway 85th Tenant Mezz LLC
|
Delaware
|
Brockport Tenant, LLC
|
Delaware
|
Brockville Facility Inc.
|
Ontario
|
Brooklyn Healthcare Investors, LLC
|
Delaware
|
Broomfield CO Senior Living Owner, LLC
|
Delaware
|
Burbank Subtenant LP
|
Delaware
|
Burlington Woods Convalescent Center, Inc.
|
New Jersey
|
Bushey Property Holdings S.a.r.l.
|
Luxembourg
|
B-X Agawam LLC
|
Delaware
|
B-X Avon LLC
|
Delaware
|
B-X Brighton LLC
|
Delaware
|
B-X Brookfield LLC
|
Delaware
|
B-X Centerville LLC
|
Delaware
|
B-X Concord LLC
|
Delaware
|
B-X Danvers LLC
|
Delaware
|
B-X East Haven LLC
|
Delaware
|
B-X Hamden LLC
|
Delaware
|
B-X Mansfield LLC
|
Delaware
|
B-X Meriden LLC
|
Delaware
|
B-X Middletown CT LLC
|
Delaware
|
B-X Middletown RI LLC
|
Delaware
|
B-X Milford LLC
|
Delaware
|
B-X Mystic LLC
|
Delaware
|
B-X Newton LLC
|
Delaware
|
B-X Newton Lower Falls LLC
|
Delaware
|
B-X Newtonville LLC
|
Delaware
|
B-X Niantic LLC
|
Delaware
|
B-X North Andover LLC
|
Delaware
|
B-X North Chelmsford LLC
|
Delaware
|
B-X Operations Holding Company LLC
|
Delaware
|
B-X Providence LLC
|
Delaware
|
B-X Quincy LLC
|
Delaware
|
B-X Rocky Hill LLC
|
Delaware
|
B-X Salem LLC
|
Delaware
|
B-X Shelburne LLC
|
Delaware
|
B-X South Windsor LLC
|
Delaware
|
B-X Trumbull LLC
|
Delaware
|
B-X Warwick LLC
|
Delaware
|
B-X Waterbury LLC
|
Delaware
|
B-X Wilbraham LLC
|
Delaware
|
B-X Willows Cottages LLC
|
Delaware
|
B-X Willows Cottages Trustee LLC
|
Delaware
|
B-X Woodbridge LLC
|
Delaware
|
B-X Worcester LLC
|
Delaware
|
B-X Yarmouth LLC
|
Delaware
|
B-XI Acton LLC
|
Delaware
|
B-XI Bedford LLC
|
Delaware
|
B-XI Franklin LLC
|
Delaware
|
B-XI Operations Holding Company LLC
|
Delaware
|
B-XII Billerica LLC
|
Delaware
|
B-XII Chelmsford LLC
|
Delaware
|
B-XII Danvers LLC
|
Delaware
|
B-XII Haverhill LLC
|
Delaware
|
B-XII Leominster LLC
|
Delaware
|
B-XII Nashua LLC
|
Delaware
|
B-XII Operations Holding Company LLC
|
Delaware
|
B-XII Plymouth LLC
|
Delaware
|
B-XII Ridgefield LLC
|
Delaware
|
B-XII Shrewsbury LLC
|
Delaware
|
B-XII Waltham LLC
|
Delaware
|
B-XIV Operations Holding Company LLC
|
Delaware
|
B-XIV Shelton LLC
|
Delaware
|
CSH-HCN Lessee (Gordon) LP
|
Ontario
|
CSH-HCN Lessee (Harmonie) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Harmonie) LP
|
Ontario
|
CSH-HCN Lessee (Heritage) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Heritage) LP
|
Ontario
|
CSH-HCN Lessee (Imperial) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Imperial) LP
|
Ontario
|
CSH-HCN Lessee (Jonquiere) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Jonquiere) LP
|
Ontario
|
CSH-HCN Lessee (Kingsville) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Kingsville) LP
|
Ontario
|
CSH-HCN Lessee (Lachine) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Lachine) LP
|
Ontario
|
CSH-HCN Lessee (Lansing) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Lansing) LP
|
Ontario
|
CSH-HCN Lessee (l'Atrium) GP Inc.
|
Ontario
|
CSH-HCN Lessee (l'Atrium) LP
|
Ontario
|
CSH-HCN Lessee (Laviolette) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Laviolette) LP
|
Ontario
|
CSH-HCN Lessee (Leamington) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Leamington) LP
|
Ontario
|
CSH-HCN Lessee (L'Ermitage) GP Inc.
|
Ontario
|
CSH-HCN Lessee (l'Ermitage) LP
|
Ontario
|
CSH-HCN Lessee (L'Estrie) GP Inc.
|
Ontario
|
CSH-HCN Lessee (L'Estrie) LP
|
Ontario
|
CSH-HCN Lessee (Livingston) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Livingston) LP
|
Ontario
|
CSH-HCN Lessee (Marquis) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Marquis) LP
|
Ontario
|
CSH-HCN Lessee (McConnell) GP Inc.
|
Ontario
|
CSH-HCN Lessee (McConnell) LP
|
Ontario
|
CSH-HCN Lessee (Notre-Dame) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Notre-Dame) LP
|
Ontario
|
CSH-HCN Lessee (Pines) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Pines) LP
|
Ontario
|
CSH-HCN Lessee (Pointe-Aux-Trembles) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Pointe-Aux-Trembles) LP
|
Ontario
|
CSH-HCN Lessee (Renaissance) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Renaissance) LP
|
Ontario
|
CSH-HCN Lessee (Rideau) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Rideau) LP
|
Ontario
|
CSH-HCN Lessee (Rive-Sud) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Rive-Sud) LP
|
Ontario
|
CSH-HCN Lessee (Royalcliffe) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Royalcliffe) LP
|
Ontario
|
CSH-HCN Lessee (Saguenay) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Saguenay) LP
|
Ontario
|
CSH-HCN Lessee (Saint-Jerome) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Saint-Jerome) LP
|
Ontario
|
CSH-HCN Lessee (Scarlett) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Scarlett) LP
|
Ontario
|
CSH-HCN Lessee (Tranquility) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Tranquility) LP
|
Ontario
|
CSH-HCN Lessee (Trembles) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Trembles) LP
|
Ontario
|
CSH-HCN Lessee (Wellesley) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Wellesley) LP
|
Ontario
|
Cumberland Associates Of Rhode Island, L.P.
|
Delaware
|
CW Property Inc.
|
British Columbia
|
Dawn Opco II Limited
|
United Kingdom
|
Dawn Opco Limited
|
United Kingdom
|
DELM Nursing, Inc.
|
Pennsylvania
|
Denver Tenant, LLC
|
Delaware
|
Dover Health Care Associates, Inc.
|
Delaware
|
DRF Boardman LLC
|
Minnesota
|
DRF Durango LLC
|
Minnesota
|
DRF Fenton LLC
|
Minnesota
|
DRF Gig Harbor LLC
|
Minnesota
|
DRF Monticello Medical Building LLC
|
Minnesota
|
DRF Shawnee Mission LLC
|
Minnesota
|
DRF South Valley LLC
|
Minnesota
|
DRF Westminster LLC
|
Minnesota
|
DSG-2010 Loans I, Inc.
|
Delaware
|
DSL Landlord, LLC
|
Delaware
|
DSL Tenant, LLC
|
Delaware
|
Dublin Senior Community DRV, LLC
|
Oklahoma
|
Dublin Senior Community WPP, LLC
|
Oklahoma
|
East 56th Street Investor LLC
|
Delaware
|
East 56th Street Tenant LLC
|
Delaware
|
Edgemont Facility Inc.
|
Ontario
|
Element Acquisition Sub. 3, LLC
|
Delaware
|
Encare Of Mendham, L.L.C.
|
New Jersey
|
EPOCH at Hingham Subtenant, LLC
|
Delaware
|
EPOCH at Wellesley Subtenant, LLC
|
Delaware
|
EPOCH at Westford Subtenant, LLC
|
Delaware
|
EPOCH Landlord, LLC
|
Delaware
|
EPOCH Tenant, LLC
|
Delaware
|
Faribault Assisted Living, LLC
|
Minnesota
|
FCA Finance B Secured Party, LLC
|
Delaware
|
FC-GEN Acquisition Holding, LLC
|
Delaware
|
FC-GEN Acquisition, Inc.
|
Delaware
|
FC-GEN Real Estate, LLC
|
Delaware
|
FC-JEN Leasing, LLC
|
Delaware
|
FHC Mount Vernon LLC
|
Minnesota
|
Fieldgate Facility Inc.
|
Ontario
|
First Tower Holdco, LLC
|
Delaware
|
First Tower Insurance, LLC
|
Tennessee
|
FLA-PALM COURT Limited Partnership
|
Florida
|
Fleetwood Villa Facility Inc.
|
Ontario
|
G & L Tustin III, LP
|
Delaware
|
G&L 4150 Regents LP
|
Delaware
|
G&L 436 Bedford LLC
|
Delaware
|
Gemini KC Land, L.L.C.
|
Oklahoma
|
Gemini Las Colinas, L.L.C.
|
Oklahoma
|
Gemini Villa Ventura, L.L.C.
|
Oklahoma
|
Gemini Wexford, L.L.C.
|
Oklahoma
|
Genesis ElderCare Centers - Harston, Inc.
|
Pennsylvania
|
Genesis Eldercare Corp.
|
Delaware
|
Genesis Eldercare National Centers, Inc.
|
Florida
|
Genesis Health Ventures of Bloomfield, Inc.
|
Pennsylvania
|
Genesis Health Ventures of Clarks Summit, Inc.
|
Pennsylvania
|
Genesis Health Ventures of Massachusetts, Inc.
|
Pennsylvania
|
Genesis Health Ventures of Naugatuck, Inc.
|
Pennsylvania
|
Genesis Health Ventures of Salisbury, Inc.
|
Pennsylvania
|
Genesis Health Ventures of West Virginia, Inc.
|
Pennsylvania
|
Genesis Health Ventures of Wilkes-Barre, Inc.
|
Pennsylvania
|
Genesis Healthcare Centers Holdings, Inc.
|
Delaware
|
Genesis HealthCare Corporation
|
Pennsylvania
|
Genesis Healthcare Holding Company I, Inc.
|
Delaware
|
Genesis Healthcare Holding Company II, Inc.
|
Delaware
|
Genesis Meridian 7 Leasing Properties Limited Partnership, L.L.P.
|
Virginia
|
Genesis Meridian 7 Partnership Holding Company L.L.C.
|
Delaware
|
Genesis Properties Of Delaware Corporation
|
Delaware
|
Genesis Properties Of Delaware Ltd. Partnership, L.P.
|
Delaware
|
Genoa Healthcare Investors, LLC
|
Delaware
|
Geriatric & Medical Companies, Inc.
|
Delaware
|
Geriatric and Medical Services, Inc.
|
New Jersey
|
Geri-Med Corp.
|
Pennsylvania
|
Gig Harbor Physicians, LLC
|
Delaware
|
Gilbert AZ Senior Living Owner, LLC
|
Delaware
|
Glenmark Associates - Dawnview Manor, Inc.
|
West Virginia
|
Glenmark Associates, Inc.
|
West Virginia
|
Golden Gate Subtenant LP
|
Delaware
|
Grace Lodge Care Holdings S.a.r.l.
|
Luxembourg
|
Grace Lodge Care Operating S.a.r.l.
|
Luxembourg
|
Grace Lodge Care S.a.r.l.
|
Luxembourg
|
Gracewell (Newmarket) Limited
|
United Kingdom
|
Gracewell Healthcare 1 Limited
|
United Kingdom
|
Gracewell Healthcare 2 Limited
|
United Kingdom
|
Gracewell Healthcare 3 Limited
|
United Kingdom
|
Gracewell Healthcare 4 Limited
|
United Kingdom
|
Gracewell Investment No.2 S.a.r.l.
|
Luxembourg
|
Gracewell Investment No.3 S.a.r.l.
|
Luxembourg
|
Gracewell Investment No.4 S.a.r.l.
|
Luxembourg
|
Gracewell Noosa Devco (Woking) S.a.r.l.
|
Luxembourg
|
Gracewell Noosa Propco (Woking) S.a.r.l.
|
Luxembourg
|
Gracewell Operations Holding Limited
|
United Kingdom
|
Gracewell Properties (Abercorn) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Adderbury) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Bath) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Birmingham) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Bournville) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Church Crookham) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Fareham) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Frome) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Hamilton) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Horley) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Kentford) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Lane End) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Little Bookham) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Newbury) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Pines) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Salisbury) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Shelbourne) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Solihull) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Sutton Coldfield) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Sutton) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Weymouth) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Woking) S.a.r.l.
|
Luxembourg
|
Gracewell Properties Holding S.a.r.l.
|
Luxembourg
|
Grand Ledge I, LLC
|
Delaware
|
Greenspring Meridian Limited Partnership
|
Maryland
|
Groton Associates Of Connecticut, L.P.
|
Delaware
|
Grove City Care 2015, LLC
|
Michigan
|
GWC-Crestwood, Inc.
|
Virginia
|
GWC-Dix Hills, Inc.
|
Virginia
|
GWC-East 56th Street Inc.
|
Virginia
|
GWC-East Meadow, Inc.
|
Virginia
|
GWC-East Setauket, Inc.
|
Virginia
|
GWC-Glen Cove, Inc.
|
Virginia
|
GWC-Holbrook, Inc.
|
Virginia
|
GWC-Huntington Terrace Inc.
|
Virginia
|
GWC-Plainview, Inc.
|
Virginia
|
GWC-Savoy Inc.
|
Virginia
|
GWC-West Babylon, Inc.
|
Virginia
|
Habitation Domaine Des Trembles Inc.
|
Quebec
|
Habitation Faubourg Giffard Inc.
|
Quebec
|
Hammonds Lane Meridian Limited Partnership
|
Maryland
|
Harbor Crest Tenant, LLC
|
Delaware
|
Harnett Health Investors, LP
|
Virginia
|
Hawthorns Retirement Group UK Limited
|
United Kingdom
|
Hawthorns Retirement Management Limited
|
United Kingdom
|
Hawthorns Retirement UK Limited
|
United Kingdom
|
HCN (Pembroke) Property Inc.
|
British Columbia
|
HCN (ROSEHILL) PROPERTY INC.
|
Ontario
|
HCN (Stonehaven) Property Inc.
|
British Columbia
|
HCN Canadian Holdings GP-1 Ltd.
|
Ontario
|
HCN Canadian Holdings LP-1 Ltd.
|
Ontario
|
HCN Canadian Holdings-1 LP
|
Ontario
|
HCN Canadian Holdings-1 Subco Ltd.
|
Ontario
|
HCN Canadian Investment (Regent Park) LP
|
Ontario
|
HCN Canadian Investment-1 LP
|
Ontario
|
HCN Canadian Investment-4 LP
|
Ontario
|
HCN Canadian Investment-5 LP
|
Ontario
|
HCN Canadian Investment-5 ULC
|
British Columbia
|
HCN Canadian Leasing (British Columbia) Ltd.
|
British Columbia
|
HCN Canadian Leasing Ltd.
|
Ontario
|
HCN Canadian Leasing-2 Ltd.
|
British Columbia
|
HCN Canadian Leasing-3 Ltd.
|
British Columbia
|
HCN Canadian Leasing-4 Ltd.
|
British Columbia
|
HCN Canadian Management Services Ltd.
|
Ontario
|
HCN Canadian Properties Inc.
|
New Brunswick
|
HCN Development Services Group, Inc.
|
Indiana
|
HCN DownREIT Member GP, LLC
|
Delaware
|
HCN DownREIT Member JV, LP
|
Delaware
|
HCN DownREIT Member, LLC
|
Delaware
|
HCN DSL Member GP, LLC
|
Delaware
|
HCN DSL Member JV, LP
|
Delaware
|
HCN DSL Member REIT, LLC
|
Delaware
|
HCN DSL Member TRS, LLC
|
Delaware
|
HCN Emerald Holdings, LLC
|
Delaware
|
HCN Fountains Leasing Ltd.
|
British Columbia
|
HCN G&L DownREIT II GP, LLC
|
Delaware
|
HCN G&L DownREIT II, LLC
|
Delaware
|
HCN G&L DownREIT LLC
|
Delaware
|
HCN G&L Holy Cross Sub, LLC
|
Delaware
|
HCN G&L Roxbury Sub, LLC
|
Delaware
|
HCN G&L Santa Clarita Sub, LLC
|
Delaware
|
HCN G&L Valencia Sub, LLC
|
Delaware
|
HCN Imperial Leasing Ltd.
|
British Columbia
|
HCN Interra Lake Travis LTACH, LLC
|
Delaware
|
HCN Investment (Regent Park) GP Ltd.
|
Ontario
|
HCN Investment GP-1 Ltd.
|
Ontario
|
HCN Investment GP-4 Ltd.
|
Ontario
|
HCN Investment GP-5 Ltd.
|
Ontario
|
HCN Kensington Victoria Leasing Ltd.
|
British Columbia
|
HCN Lake Travis Holdings, LLC
|
Delaware
|
HCN Lake Travis Property Two, LLC
|
Delaware
|
HCN Lessee (Pembroke) GP Inc.
|
British Columbia
|
HCN Lessee (Pembroke) LP
|
Ontario
|
HCN Lessee (Stonehaven) GP Inc.
|
British Columbia
|
HCN Lessee (Stonehaven) LP
|
Ontario
|
HCN Portsmouth Leasing Ltd.
|
British Columbia
|
HCN Purchasing Group, LLC
|
Delaware
|
HCN Renaissance (Regal) Leasing Ltd.
|
British Columbia
|
HCN Renaissance Leasing Ltd.
|
British Columbia
|
HCN Ross Leasing Ltd.
|
British Columbia
|
HCN Share Holdings JV GP, LLC
|
Delaware
|
HCN Share Holdings JV, LP
|
Delaware
|
HCN Sunwood Leasing Ltd.
|
British Columbia
|
HCN UK Holdco Limited
|
Jersey
|
HCN UK Investments Limited
|
Jersey
|
HCN UK Management Services Limited
|
United Kingdom
|
HCN-COGIR LESSEE GP INC.
|
Ontario
|
HCN-COGIR LESSEE LP
|
Ontario
|
HCN-Revera (Annex) Inc.
|
Ontario
|
HCN-Revera (Appleby Place) Inc.
|
Ontario
|
HCN-Revera (Aspen Ridge) Inc.
|
Ontario
|
HCN-Revera (Beechwood) Inc.
|
Ontario
|
HCN-Revera (Bough Beeches Place) Inc.
|
Ontario
|
HCN-Revera (Centennial Park Place) Inc.
|
Ontario
|
HCN-Revera (Churchill Place) Inc.
|
Ontario
|
HCN-Revera (Colonel By) Inc.
|
Ontario
|
HCN-Revera (Constitution Place) Inc.
|
Ontario
|
HCN-Revera (Don Mills/Donway Place) Inc.
|
Ontario
|
HCN-Revera (Edinburgh) Inc.
|
Ontario
|
HCN-Revera (Evergreen) Inc.
|
Ontario
|
HCN-Revera (Fergus Place) Inc.
|
Ontario
|
HCN-Revera (Forest Hill Place) Inc.
|
Ontario
|
HCN-Revera (Glynnwood) Inc.
|
Ontario
|
HCN-Revera (Hollyburn House) Inc.
|
Ontario
|
HCN-Revera (Inglewood) Inc.
|
Ontario
|
HCN-Revera (Kensington Victoria) Inc.
|
Ontario
|
HCN-Revera (Kensington) Inc.
|
Ontario
|
HCN-Revera (Leaside) Inc.
|
Ontario
|
HCN-Revera (Parkwood Court) Inc.
|
Ontario
|
HCN-Revera (Parkwood Manor) Inc.
|
Ontario
|
HCN-Revera (Parkwood Place) Inc.
|
Ontario
|
HCN-Revera (Rayoak Place) Inc.
|
Ontario
|
HCN-Revera (Regal) Limited Partnership
|
Ontario
|
HCN-Revera (River Ridge) Inc.
|
Ontario
|
HCN-Revera (Stone Lodge) Inc.
|
Ontario
|
HCN-Revera (Valley Stream) Inc.
|
Ontario
|
HCN-Revera (Victoria Place) Inc.
|
Ontario
|
HCN-Revera (Weber) Inc.
|
Ontario
|
HCN-Revera (Wellington) Inc.
|
Ontario
|
HCN-Revera (Westwood) Inc.
|
Ontario
|
HCN-Revera (Whitecliff) Inc.
|
Ontario
|
HCN-Revera (Windermere on the Mount) Inc.
|
Ontario
|
HCN-Revera Joint Venture GP Inc.
|
Ontario
|
HCN-Revera Joint Venture Limited Partnership
|
Ontario
|
HCN-Revera Joint Venture ULC
|
British Columbia
|
HCN-Revera Lessee (Alta Vista) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Alta Vista) LP
|
Ontario
|
HCN-Revera Lessee (Annex) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Annex) LP
|
Ontario
|
HCN-Revera Lessee (Appleby Place) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Appleby Place) LP
|
Ontario
|
HCN-Revera Lessee (Arnprior Villa) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Arnprior Villa) LP
|
Ontario
|
HCN-Revera Lessee (Aspen Ridge) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Aspen Ridge) LP
|
Ontario
|
HCN-Revera Lessee (Barrhaven) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Barrhaven) LP
|
Ontario
|
HCN-Revera Lessee (Beechwood) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Beechwood) LP
|
Ontario
|
HCN-Revera Lessee (Bentley Moose Jaw) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Bentley Moose Jaw) LP
|
Ontario
|
HCN-Revera Lessee (Bentley Regina) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Bentley Regina) LP
|
Ontario
|
HCN-Revera Lessee (Bentley Saskatoon) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Bentley Saskatoon) LP
|
Ontario
|
HCN-Revera Lessee (Bentley Swift Current) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Bentley Swift Current) LP
|
Ontario
|
HCN-Revera Lessee (Bentley Yorkton) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Bentley Yorkton) LP
|
Ontario
|
HCN-Revera Lessee (Birkdale) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Birkdale) LP
|
Ontario
|
HCN-Revera Lessee (Bough Beeches Place) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Bough Beeches Place) LP
|
Ontario
|
HCN-Revera Lessee (Bradgate Arms) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Bradgate Arms) LP
|
Ontario
|
HCN-Revera Lessee (Briargate) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Briargate) LP
|
Ontario
|
HCN-Revera Lessee (Bridlewood Manor) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Bridlewood Manor) LP
|
Ontario
|
HCN-Revera Lessee (Cambridge) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Cambridge) LP
|
Ontario
|
HCN-Revera Lessee (Cedarcroft Place) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Cedarcroft Place) LP
|
Ontario
|
HCN-Revera Lessee (Centennial Park Place) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Centennial Park Place) LP
|
Ontario
|
HCN-Revera Lessee (Chateau Renoir) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Chateau Renoir) LP
|
Ontario
|
HCN-Revera Lessee (Chatham) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Chatham) LP
|
Ontario
|
HCN-Revera Lessee (Churchill Place) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Churchill Place) LP
|
Ontario
|
HCN-Revera Lessee (Clair Matin) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Clair Matin) LP
|
Ontario
|
HCN-Revera Lessee (Claremont) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Claremont) LP
|
Ontario
|
HCN-Revera Lessee (Colonel By) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Colonel By) LP
|
Ontario
|
HCN-Revera Lessee (Constitution Place) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Constitution Place) LP
|
Ontario
|
HCN-Revera Lessee (Crofton Manor) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Crofton Manor) LP
|
Ontario
|
HCN-Revera Lessee (Don Mills) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Don Mills) LP
|
Ontario
|
HCN-Revera Lessee (Donway Place) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Donway Place) LP
|
Ontario
|
HCN-Revera Lessee (Dorchester) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Dorchester) LP
|
Ontario
|
HCN-Revera Lessee (Edgemont) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Edgemont) LP
|
Ontario
|
HCN-Revera Lessee (Edinburgh) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Edinburgh) LP
|
Ontario
|
HCN-Revera Lessee (Emerite de Brossard) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Emerite de Brossard) LP
|
Ontario
|
HCN-Revera Lessee (Evergreen) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Evergreen) LP
|
Ontario
|
HCN-Revera Lessee (Fergus Place) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Fergus Place) LP
|
Ontario
|
HCN-Revera Lessee (Fleetwood Villa) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Fleetwood Villa) LP
|
Ontario
|
HCN-Revera Lessee (Forest Hill Place) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Forest Hill Place) LP
|
Ontario
|
HCN-Revera Lessee (Franklin) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Franklin) LP
|
Ontario
|
HCN-Revera Lessee (Glynnwood) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Glynnwood) LP
|
Ontario
|
HCN-Revera Lessee (Grand Wood) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Grand Wood) LP
|
Ontario
|
HCN-Revera Lessee (Greenway) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Greenway) LP
|
Ontario
|
HCN-Revera Lessee (Heartland) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Heartland) LP
|
Ontario
|
HCN-Revera Lessee (Plymouth) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Plymouth) LP
|
Ontario
|
HCN-Revera Lessee (Port Perry) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Port Perry) LP
|
Ontario
|
HCN-Revera Lessee (Portobello) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Portobello) LP
|
Ontario
|
HCN-Revera Lessee (Portsmouth) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Portsmouth) LP
|
Ontario
|
HCN-Revera Lessee (Prince of Wales) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Prince of Wales) LP
|
Ontario
|
HCN-Revera Lessee (Queenswood Villa) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Queenswood Villa) LP
|
Ontario
|
HCN-Revera Lessee (Rayoak Place) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Rayoak Place) LP
|
Ontario
|
HCN-Revera Lessee (Renaissance) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Renaissance) LP
|
Ontario
|
HCN-Revera Lessee (River Ridge) GP Inc.
|
Ontario
|
HCN-Revera Lessee (River Ridge) LP
|
Ontario
|
HCN-Revera Lessee (Riverbend) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Riverbend) LP
|
Ontario
|
HCN-Revera Lessee (Robertson House) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Robertson House) LP
|
Ontario
|
HCN-Revera Lessee (Scenic Acres) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Scenic Acres) LP
|
Ontario
|
HCN-Revera Lessee (St. Lawrence Place) GP Inc.
|
Ontario
|
HCN-Revera Lessee (St. Lawrence Place) LP
|
Ontario
|
HCN-Revera Lessee (Stittsville Villa) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Stittsville Villa) LP
|
Ontario
|
HCN-Revera Lessee (Stone Lodge) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Stone Lodge) LP
|
Ontario
|
HCN-Revera Lessee (Sunwood) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Sunwood) LP
|
Ontario
|
HCN-Revera Lessee (Terrace Gardens) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Terrace Gardens) LP
|
Ontario
|
HCN-Revera Lessee (The Churchill) GP Inc.
|
Ontario
|
HCN-Revera Lessee (The Churchill) LP
|
Ontario
|
HCN-Revera Lessee (Trafalgar Lodge) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Trafalgar Lodge) LP
|
Ontario
|
HCN-Revera Lessee (Valley Stream) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Valley Stream) LP
|
Ontario
|
HCN-Revera Lessee (Victoria Place) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Victoria Place) LP
|
Ontario
|
HCN-Revera Lessee (Waverley/Rosewood) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Waverley/Rosewood) LP
|
Ontario
|
HCN-Revera Lessee (Weber) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Weber) LP
|
Ontario
|
HCN-Revera Lessee (Wellington) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Wellington) LP
|
Ontario
|
HCN-Revera Lessee (Westwood) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Westwood) LP
|
Ontario
|
HCN-Revera Lessee (Whitecliff) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Whitecliff) LP
|
Ontario
|
HCN-Revera Lessee (Windermere on the Mount) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Windermere on the Mount) LP
|
Ontario
|
HCN-Revera Lessee (Windsor) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Windsor) LP
|
Ontario
|
HCP Maryland Properties, LLC
|
Delaware
|
HCRI 10301 Hagen Ranch Properties, LLC
|
Delaware
|
HCRI 1950 Sunny Crest Drive, LLC
|
Delaware
|
HCRI Allen Medical Facility, LLC
|
Delaware
|
HCRI Ancillary TRS, Inc.
|
Delaware
|
HCRI Beachwood, Inc.
|
Ohio
|
HCRI Boardman Properties, LLC
|
Delaware
|
HCRI Broadview, Inc.
|
Ohio
|
HCRI Cold Spring Properties, LLC
|
Delaware
|
HCRI Connecticut Avenue Subtenant, LLC
|
Delaware
|
HCRI Draper Place Properties Trust
|
Massachusetts
|
HCRI Drum Hill Properties, LLC
|
Delaware
|
HCRI Emerald Holdings III, LLC
|
Delaware
|
HCRI Emerald Holdings, LLC
|
Delaware
|
HCRI Fairmont Properties, LLC
|
Delaware
|
HCRI Financial Services, LLC
|
Delaware
|
HCRI Fore River Medical Facility, LLC
|
Delaware
|
HCRI Holdings Trust
|
Massachusetts
|
HCRI Illinois Properties, LLC
|
Delaware
|
HCRI Indiana Properties, Inc.
|
Delaware
|
HCRI Indiana Properties, LLC
|
Indiana
|
HCRI Investments, Inc.
|
Delaware
|
HCRI Kansas Properties, LLC
|
Delaware
|
HCRI Kentucky Properties, LLC
|
Kentucky
|
HCRI Logistics, Inc.
|
Delaware
|
HCRI Louisiana Properties, L.P.
|
Delaware
|
HCRI Marina Place Properties Trust
|
Massachusetts
|
HCRI Massachusetts Properties Trust
|
Massachusetts
|
HCRI Massachusetts Properties Trust II
|
Massachusetts
|
HCRI Massachusetts Properties, Inc.
|
Delaware
|
HCRI North Carolina Properties I, Inc.
|
North Carolina
|
HCRI North Carolina Properties II, Inc.
|
North Carolina
|
HCRI North Carolina Properties III, Limited Partnership
|
North Carolina
|
HCRI North Carolina Properties, LLC
|
Delaware
|
HCRI NY-NJ Properties, LLC
|
Delaware
|
HCRI of Folsom Tenant, LLC
|
California
|
HCRI of Upland Tenant, LLC
|
California
|
HCRI Pennsylvania Properties Holding Company
|
Delaware
|
HCRI Pennsylvania Properties, Inc.
|
Pennsylvania
|
HCRI Plano Medical Facility, LLC
|
Delaware
|
HCRI Purchasing, LLC
|
Delaware
|
HCRI Red Fox ManCo, LLC
|
Delaware
|
HCRI Roswell I Medical Facility, LLC
|
Delaware
|
HCRI Southern Investments I, Inc.
|
Delaware
|
HCRI Sun III Dresher Senior Living, LP
|
Delaware
|
HCRI Sun III Golden Valley Senior Living, LLC
|
Delaware
|
HCRI Sun III GP, LLC
|
Delaware
|
HCRI Sun III Minnetonka Senior Living, LLC
|
Delaware
|
HCRI Sun III Palo Alto Senior Living, LP
|
Delaware
|
HCRI Sun III Plano Senior Living, LP
|
Delaware
|
HCRI Sun III Shelby Senior Living, LLC
|
Delaware
|
HCRI Sun III Tenant GP, LLC
|
Delaware
|
HCRI Sun III Tenant, LP
|
Delaware
|
HCRI Sun Three Lombard IL Senior Living, LLC
|
Delaware
|
HCRI Sun Two Baton Rouge LA Senior Living, LLC
|
Delaware
|
HCRI Sun Two Gilbert AZ Senior Living, LLC
|
Delaware
|
HCRI Sun Two Metairie LA Senior Living, LLC
|
Delaware
|
HCRI Tennessee Properties, LLC
|
Delaware
|
HCRI Texas Properties, Inc.
|
Delaware
|
HCRI Texas Properties, Ltd.
|
Texas
|
HCRI TRS Acquirer II, LLC
|
Delaware
|
HCRI TRS Acquirer, LLC
|
Delaware
|
HCRI TRS Trident Investment, LLC
|
Delaware
|
HCRI Tucson Properties, Inc.
|
Delaware
|
HCRI Westlake, Inc.
|
Ohio
|
HCRI Wilburn Gardens Properties, LLC
|
Delaware
|
HCRI Wisconsin Properties, LLC
|
Wisconsin
|
Health Care REIT, LLC
|
Delaware
|
Health Resources Of Cedar Grove, Inc.
|
New Jersey
|
Health Resources Of Cinnaminson, Inc.
|
New Jersey
|
Health Resources Of Cranbury, L.L.C.
|
New Jersey
|
Health Resources Of Cumberland, Inc.
|
Delaware
|
Health Resources Of Emery, L.L.C.
|
New Jersey
|
Health Resources Of Englewood, Inc.
|
New Jersey
|
Health Resources Of Glastonbury, Inc.
|
Connecticut
|
Health Resources Of Groton, Inc.
|
Delaware
|
Health Resources Of Middletown (RI), Inc.
|
Delaware
|
Health Resources Of Rockville, Inc.
|
Delaware
|
Health Resources Of South Brunswick, L.L.C.
|
New Jersey
|
Health Resources Of Wallingford, Inc.
|
Delaware
|
Health Resources Of Warwick, Inc.
|
Delaware
|
Health Resources Of West Orange, L.L.C.
|
New Jersey
|
Healthcare Property Managers Of America, LLC
|
Florida
|
Healthcare Resources Corp.
|
Pennsylvania
|
HealthLease U.S., Inc.
|
Delaware
|
Heat OP TRS, Inc.
|
Delaware
|
Highland Healthcare Investors, LLC
|
Delaware
|
Hilltop Health Care Center, Inc.
|
Delaware
|
Hingham Terry Drive I LLC
|
Delaware
|
HL GP, LLC
|
Indiana
|
Holly Manor Associates Of New Jersey, L.P.
|
Delaware
|
Hunt Club Manor Facility Inc.
|
Ontario
|
I.L.S. Care Communities Inc.
|
Manitoba
|
Imperial Place Residence Inc. / Residence Place Imperiale Inc.
|
Quebec
|
Jupiter Landlord, LLC
|
Delaware
|
Kaiser Gemini Burgundy, LLC
|
Oklahoma
|
Kaiser Gemini Woodland, LLC
|
Oklahoma
|
Karrington of Findlay Ltd.
|
Oklahoma
|
Kensington Subtenant LP
|
Delaware
|
Keystone Communities of Eagan, LLC
|
Minnesota
|
Keystone Communities of Highland Park, LLC
|
Delaware
|
Keystone Communities of Mankato, LLC
|
Minnesota
|
Keystone Communities of Prior Lake, LLC
|
Minnesota
|
Keystone Communities of Roseville, LLC
|
Delaware
|
King Street Facility Inc.
|
Ontario
|
Kingston Facility Inc.
|
Ontario
|
KSL Landlord, LLC
|
Delaware
|
Laguna Hills Subtenant LP
|
Delaware
|
Lake Mead Medical Investors Limited Partnership
|
Florida
|
Landmark Facility Inc.
|
Ontario
|
Las Palmas Subtenant LP
|
Delaware
|
Laurel Health Resources, Inc.
|
Delaware
|
Lawrence Care (Maids Moreton) Limited
|
United Kingdom
|
Le Wellesley Inc.
|
Quebec
|
Leawood Tenant, LLC
|
Delaware
|
Lehigh Nursing Homes, Inc.
|
Pennsylvania
|
Lenexa Investors II, LLC
|
Delaware
|
Lenexa Investors, LLC
|
Delaware
|
Leon Dorchester Facility Inc.
|
Ontario
|
Les Belvederes De Lachine Inc.
|
Canada
|
Les Jardins Laviolette Inc.
|
Quebec
|
Les Residences-Hotellerie Harmonie Inc.
|
Quebec
|
Lillington AL Health Investors, LP
|
Virginia
|
Lombard IL Senior Living Owner, LLC
|
Delaware
|
Louisville KY Senior Living Owner, LLC
|
Delaware
|
Lundy Manor Facility Inc.
|
Ontario
|
MABRI Convalescent Center, Inc.
|
Connecticut
|
Maids Moreton Operations Limited
|
United Kingdom
|
Manoir Archer Inc.
|
Quebec
|
Manoir Bois De Boulogne Inc.
|
Quebec
|
Manoir et Cours de l'Atrium Inc.
|
Quebec
|
Manoir Pointe-Aux-Trembles Inc.
|
Quebec
|
Manoir St-Jerome Inc.
|
Quebec
|
Marietta Physicians LLC
|
Delaware
|
Markglen, Inc.
|
West Virginia
|
Master Metsun Three GP, LLC
|
Delaware
|
Master MetSun Three, LP
|
Delaware
|
McKenzie Towne Facility Inc.
|
Ontario
|
McKerley Health Care Center - Concord Limited Partnership
|
New Hampshire
|
McKerley Health Care Center-Concord, Inc.
|
New Hampshire
|
McKerley Health Care Centers, Inc.
|
New Hampshire
|
McKerley Health Facilities
|
New Hampshire
|
Meadowcroft London Facility Inc.
|
Ontario
|
Meadowlands Facility Inc.
|
Ontario
|
Medical Real Estate Property Managers Of America, LLC
|
Florida
|
Meerkat TRS LLC
|
Delaware
|
Mercerville Associates Of New Jersey, L.P.
|
Delaware
|
Meridian Health, Inc.
|
Pennsylvania
|
Meridian Healthcare, Inc.
|
Pennsylvania
|
Metairie LA Senior Living Owner, LLC
|
Delaware
|
MetSun GP, LLC
|
Delaware
|
MetSun Three Franklin MA Senior Living, LLC
|
Delaware
|
MetSun Three Kingwood TX Senior Living, LP
|
Delaware
|
MetSun Three Mundelein IL Senior Living, LLC
|
Delaware
|
MetSun Three Pool Three GP, LLC
|
Delaware
|
MetSun Three Pool Three, LLC
|
Delaware
|
MetSun Three Pool Two GP, LLC
|
Delaware
|
MetSun Three Pool Two, LLC
|
Delaware
|
MetSun Three Sabre Springs CA Senior Living, LP
|
Delaware
|
MG Landlord II, LLC
|
Delaware
|
MG Landlord, LLC
|
Delaware
|
MG Tenant, LLC
|
Delaware
|
MGP 42, LLC
|
Delaware
|
MGP 44, LLC
|
Delaware
|
MGP 45, LLC
|
Delaware
|
MGP 46, LLC
|
Delaware
|
MGP 47, LLC
|
Delaware
|
MGP 50, LLC
|
Delaware
|
MGP 51, LLC
|
Delaware
|
MGP 52, LLC
|
Delaware
|
MGP VI, LLC
|
Washington
|
MGP X, LLC
|
Washington
|
MGP XI, LLC
|
Washington
|
MGP XII, LLC
|
Washington
|
MGP XIX, LLC
|
Washington
|
MGP XVII, LLC
|
Washington
|
Middletown (RI) Associates of Rhode Island, L.P.
|
Delaware
|
Midland I, LLC
|
Delaware
|
Midpark Way S.E. Property Inc.
|
British Columbia
|
Mill Creek Real Estate Partners, LLC
|
Delaware
|
Mill Hill Retirement Facility Inc.
|
Ontario
|
Millville Meridian Limited Partnership
|
Maryland
|
Minnetonka Tenant, LLC
|
Delaware
|
Mission Viejo Subtenant LP
|
Delaware
|
ML Marion, L.P.
|
Indiana
|
Moline Physicians, LLC
|
Delaware
|
Montgomery Nursing Homes, Inc.
|
Pennsylvania
|
Monticello Healthcare Properties, LLC
|
Delaware
|
Moorestown Physicians, LLC
|
Delaware
|
Mount Vernon Physicians, LLC
|
Delaware
|
Mountain View Tenant, LLC
|
Delaware
|
MPG Crawfordsville, L.P.
|
Indiana
|
MPG Healthcare L.P.
|
Indiana
|
MS Arlington, L.P.
|
Indiana
|
MS Avon, L.P.
|
Indiana
|
MS Bradner, L.P.
|
Indiana
|
MS Brecksville, L.P.
|
Indiana
|
MS Castleton, L.P.
|
Indiana
|
MS Chatham, L.P.
|
Indiana
|
MS Chesterfield, L.P.
|
Indiana
|
MS Danville, L.P.
|
Indiana
|
MS Kokomo, L.P.
|
Indiana
|
MS Mishawaka, L.P.
|
Indiana
|
MS Springfield, L.P.
|
Indiana
|
MS Stafford, L.P.
|
Indiana
|
MS Wabash, L.P.
|
Indiana
|
MS Westfield, L.P.
|
Indiana
|
Murrieta Healthcare Investors, LLC
|
Delaware
|
Murrieta Healthcare Properties, LLC
|
Delaware
|
Narrows Glen Subtenant LP
|
Delaware
|
North Cape Convalescent Center Associates, L.P.
|
Pennsylvania
|
North Pointe Tenant, LLC
|
Delaware
|
Northbridge Burlington Subtenant LLC
|
Delaware
|
Northbridge Dartmouth Subtenant LLC
|
Delaware
|
Northbridge Needham Subtenant LLC
|
Delaware
|
Northbridge Newburyport Subtenant LLC
|
Delaware
|
Northbridge Plymouth Subtenant LLC
|
Delaware
|
Northbridge Tewksbury Subtenant LLC
|
Delaware
|
Northwest Total Care Center Associates L.P.
|
New Jersey
|
Oakland Care Centre Limited
|
United Kingdom
|
Ogilvie Facility Inc.
|
Ontario
|
One Veronica Drive Danvers LLC
|
Delaware
|
Oshawa Facility Inc.
|
Ontario
|
Ottershaw Property Holdings S.a.r.l.
|
Luxembourg
|
Overland Park Tenant, LLC
|
Delaware
|
Paramount Real Estate Services, Inc.
|
Delaware
|
Parkland Commons Subtenant, LLC
|
Delaware
|
Pelican Marsh Subtenant, LLC
|
Delaware
|
Pelican Point Subtenant, LLC
|
Delaware
|
Petoskey I, LLC
|
Delaware
|
Petoskey II, LLC
|
Delaware
|
Philadelphia Avenue Corporation
|
Pennsylvania
|
Pleasant View Retirement Limited Liability Company
|
Delaware
|
Plymouth I, LLC
|
Delaware
|
Pompton Associates, L.P.
|
New Jersey
|
Pompton Care, L.L.C.
|
New Jersey
|
Portsmouth Facility Inc.
|
Ontario
|
Potomac Acquisition LLC
|
Delaware
|
PVL Landlord - BC, LLC
|
Delaware
|
PVL Landlord - STL Hills, LLC
|
Delaware
|
PVL Tenant - BC, LLC
|
Delaware
|
PVL Tenant - Hermitage, LLC
|
Delaware
|
PVL Tenant - Panama City, LLC
|
Delaware
|
PVL Tenant - STL Hills, LLC
|
Delaware
|
PVL Tenant - Thomasville, LLC
|
Delaware
|
Queensbury Tenant, LLC
|
Delaware
|
Queenswood Facility Inc.
|
Ontario
|
Redmond Partners, LLC
|
Delaware
|
Regal Lifestyle (Birkdale) Inc.
|
Ontario
|
Regal Lifestyle (Chatham) Inc.
|
Ontario
|
Regal Lifestyle (Grand Wood) Inc.
|
Ontario
|
Regal Lifestyle (Lynwood) Inc.
|
Ontario
|
Regal Lifestyle (Port Perry) Inc.
|
Ontario
|
Regency Subtenant LP
|
Delaware
|
Renoir Facility Inc.
|
Ontario
|
Residence l'Ermitage Inc.
|
Quebec
|
Residence Notre-Dame (Victoriaville) Inc.
|
Quebec
|
Restful Homes (Birmingham) Limited
|
United Kingdom
|
Restful Homes (Milton Keynes) Ltd.
|
United Kingdom
|
Restful Homes (Tile Cross) Ltd.
|
United Kingdom
|
Restful Homes Developments Ltd.
|
United Kingdom
|
Restful Homes I Holding Company Ltd.
|
Jersey
|
Ridgmar Tenant, LLC
|
Delaware
|
Riverbend Facility Inc.
|
Ontario
|
Roswell Tenant, LLC
|
Delaware
|
RRR SAS Facilities Inc.
|
Ontario
|
RSF REIT V GP, L.L.C.
|
Texas
|
RSF REIT V SP GP, L.L.C.
|
Texas
|
SIPL Partner 4 S.a.r.l
|
Luxembourg
|
SIPL Partner 5 S.a.r.l
|
Luxembourg
|
SIPL Partner 6 S.a.r.l
|
Luxembourg
|
SIPL Partner 7 S.a.r.l
|
Luxembourg
|
SIPL Partner 8 S.a.r.l
|
Luxembourg
|
SIPL Partner 9 S.a.r.l
|
Luxembourg
|
SIPL Propco NV S.a.r.l.
|
Luxembourg
|
SIPL Quantum Propco S.a.r.l.
|
Luxembourg
|
SIPL Saints Propco S.a.r.l
|
Luxembourg
|
SIPL Sunrise Propco S.a.r.l
|
Luxembourg
|
South Valley Medical Building L.L.C.
|
Minnesota
|
South Valley Venture, LLC
|
Minnesota
|
SP Green Ridge, LLC
|
Virginia
|
SP Harnett, LLC
|
Virginia
|
SP Lillington, LLC
|
Virginia
|
SP Virginia Beach, LLC
|
Virginia
|
SP Whitestone, LLC
|
Virginia
|
SR-73 and Lakeside Ave LLC
|
Delaware
|
SSL Landlord, LLC
|
Delaware
|
SSL Sponsor, LLC
|
Delaware
|
SSL Tenant, LLC
|
Delaware
|
St. Anthony Physicians, LLC
|
Delaware
|
St. Clare Physicians, LLC
|
Delaware
|
Stafford Convalescent Center, Inc.
|
Delaware
|
Stamford Physicians, LLC
|
Delaware
|
Sterling Investment Partners Ltd
|
Jersey
|
Sterling Midco Limited
|
United Kingdom
|
Stittsville Facility Inc.
|
Ontario
|
Stroudsburg Health Investors, LLC
|
Virginia
|
Subtenant 10120 Louetta Road, LLC
|
Delaware
|
Subtenant 10225 Cypresswood Drive, LLC
|
Delaware
|
Subtenant 1118 N. Stoneman Avenue, LLC
|
Delaware
|
Subtenant 11330 Farrah Lane, LLC
|
Delaware
|
Subtenant 1221 Seventh Street, LLC
|
Delaware
|
Subtenant 125 W. Sierra Madre Avenue, LLC
|
Delaware
|
Subtenant 1301 Ralston Avenue, LLC
|
Delaware
|
Subtenant 14058 A Bee Cave Parkway, LLC
|
Delaware
|
Subtenant 1430 East 4500 South, LLC
|
Delaware
|
Subtenant 1500 Borden Road, LLC
|
Delaware
|
Subtenant 1936 Brookdale Road, LLC
|
Delaware
|
Subtenant 22955 Eastex Freeway, LLC
|
Delaware
|
Subtenant 240 E. Third Street, LLC
|
Delaware
|
Subtenant 25100 Calabasas Road, LLC
|
Delaware
|
Subtenant 30311 Camino Capistrano, LLC
|
Delaware
|
Subtenant 330 North Hayworth Avenue, LLC
|
Delaware
|
Subtenant 335 Saxony Road, LLC
|
Delaware
|
Subtenant 350 W. Bay Street, LLC
|
Delaware
|
Subtenant 3611 Dickason Avenue, LLC
|
Delaware
|
Subtenant 3690 Mapleshade Lane, LLC
|
Delaware
|
Subtenant 514 N. Prospect Avenue, LLC
|
Delaware
|
Subtenant 550 America Court, LLC
|
Delaware
|
Subtenant 5521 Village Creek Drive, LLC
|
Delaware
|
Subtenant 7001 Bryant Irvin Road, LLC
|
Delaware
|
Subtenant 7950 Baybranch Drive, LLC
|
Delaware
|
Subtenant 800 C-Bar Ranch Trail, LLC
|
Delaware
|
Subtenant 8855 West Valley Ranch Parkway, LLC
|
Delaware
|
Subtenant 9410 E. Thunderbird, LLC
|
Delaware
|
Sun City Center Subtenant, LLC
|
Delaware
|
Sun City West Tenant, LLC
|
Delaware
|
Sunrise at Gardner Park Limited Partnership
|
Massachusetts
|
Sunrise Beach Cities Assisted Living, L.P.
|
California
|
Sunrise Connecticut Avenue Assisted Living Owner, L.L.C.
|
Virginia
|
Sunrise Gardner Park GP, Inc.
|
Massachusetts
|
Sunrise Home Help Services Limited
|
United Kingdom
|
Sunrise Louisville KY Senior Living, LLC
|
Kentucky
|
Sunrise Lower Makefield PA Senior Living, LP
|
Delaware
|
Sunrise of Beaconsfield G.P. Inc.
|
New Brunswick
|
Sunrise of Beaconsfield, LP
|
Ontario
|
Sunrise of Blainville G.P. Inc.
|
New Brunswick
|
Sunrise of Blainville, LP
|
Ontario
|
Sunrise of Dollard des Ormeaux G.P. Inc.
|
New Brunswick
|
Sunrise of Dollard des Ormeaux, LP
|
Ontario
|
Sunrise Operations Bagshot II Limited
|
United Kingdom
|
Sunrise Operations Banstead Limited
|
United Kingdom
|
Sunrise Operations Bassett Limited
|
United Kingdom
|
Sunrise Operations Beaconsfield Limited
|
United Kingdom
|
Sunrise Operations Bramhall II Limited
|
United Kingdom
|
Sunrise Operations Cardiff Limited
|
United Kingdom
|
Sunrise Operations Chorleywood Limited
|
United Kingdom
|
Sunrise Operations Eastbourne Limited
|
United Kingdom
|
Sunrise Operations Edgbaston Limited
|
United Kingdom
|
Sunrise Operations Elstree Limited
|
United Kingdom
|
Sunrise Operations Esher Limited
|
United Kingdom
|
Sunrise Operations Fleet Limited
|
United Kingdom
|
Sunrise Operations Guildford Limited
|
United Kingdom
|
Sunrise Operations Hale Barns Limited
|
United Kingdom
|
Sunrise Operations Purley Limited
|
United Kingdom
|
Sunrise Operations Solihull Limited
|
United Kingdom
|
Sunrise Operations Sonning Limited
|
United Kingdom
|
Sunrise Operations Southbourne Ltd.
|
United Kingdom
|
Sunrise Operations Tettenhall Ltd.
|
United Kingdom
|
Sunrise Operations UK Limited
|
United Kingdom
|
Sunrise Operations V.W. Limited
|
United Kingdom
|
Sunrise Operations Westbourne Limited
|
United Kingdom
|
Sunrise Operations Weybridge Limited
|
United Kingdom
|
Sunrise Operations Winchester Limited
|
United Kingdom
|
Sunrise UK Operations Limited
|
United Kingdom
|
Sunrise/Inova McLean Assisted Living, L.L.C.
|
Virginia
|
SZR Beaconsfield Inc.
|
New Brunswick
|
SZR Blainville Inc.
|
New Brunswick
|
SZR Dollard des Ormeaux, Inc.
|
New Brunswick
|
Tampa Bay Subtenant, LLC
|
Delaware
|
Tanglewood Tenant, LLC
|
Delaware
|
Terrace Gardens Retirement Facility Inc.
|
Ontario
|
The Apple Valley Limited Partnership
|
Massachusetts
|
The Apple Valley Partnership Holding Company, Inc.
|
Pennsylvania
|
The Courtyards Subtenant, LLC
|
Delaware
|
The Green (Solihull) Management Company Limited
|
United Kingdom
|
The Multicare Companies, Inc.
|
Delaware
|
The Renaissance Resort Retirement Living Inc. / Complexe De Residence Renaissance Inc.
|
Canada
|
The Straus Group-Old Bridge, L.P.
|
New Jersey
|
Trafalgar Facility Inc.
|
Ontario
|
TV Arlington Tenant, LLC
|
Delaware
|
Urban Senior Living Holdco LLC
|
Delaware
|
Urban Senior Living JV LLC
|
Delaware
|
Urban Senior Living REIT LLC
|
Delaware
|
Valleyview Drive S.W. Property Inc.
|
British Columbia
|
Vankleek Facility Inc.
|
Ontario
|
Ventana Canyon Tenant, LLC
|
Delaware
|
Vicino Italian Kitchen GP Inc.
|
Ontario
|
Vicino Italian Kitchen LP
|
Ontario
|
Villa Chicoutimi Inc.
|
Quebec
|
Villa de L'Estrie Inc.
|
Quebec
|
Villa du Saguenay Inc.
|
Quebec
|
Villa Jonquiere Inc.
|
Quebec
|
Villa Rive-Sud Inc.
|
Quebec
|
Villas Realty & Investments, Inc.
|
Pennsylvania
|
Virginia Beach Health Investors, LLC
|
Virginia
|
Voorhees Healthcare Properties, LLC
|
Delaware
|
Voorhees Physicians, LLC
|
Delaware
|
W TCG Burleson AL, LLC
|
Delaware
|
W TCG Carrollton IL, LLC
|
Delaware
|
W TCG Colleyville MC, LLC
|
Delaware
|
W TCG Granbury Campus, LLC
|
Delaware
|
W TCG Kingwood AL, LLC
|
Delaware
|
W TCG Melbourne Campus, LLC
|
Delaware
|
W TCG Murphy AL, LLC
|
Delaware
|
W TCG New Braunfels Campus, LLC
|
Delaware
|
W TCG Port St. Lucie Campus, LLC
|
Delaware
|
W TCG San Antonio Campus, LLC
|
Delaware
|
W TCG San Antonio West Campus, LLC
|
Delaware
|
W TCG Sugar Land Campus, LLC
|
Delaware
|
W TCG Vero Beach Campus, LLC
|
Delaware
|
W TCG Westworth Village Campus, LLC
|
Delaware
|
Wallingford Associates of Connecticut, L.P.
|
Delaware
|
Warwick Associates Of Rhode Island, L.P.
|
Delaware
|
Waterstone I, LLC
|
Delaware
|
WELL 2010 LLC
|
Delaware
|
WELL 2010 REIT LLC
|
Delaware
|
WELL BL OpCo LLC
|
Delaware
|
WELL I-A Properties LLC
|
Delaware
|
WELL Ibis Portfolio Member LLC
|
Delaware
|
WELL Mezzanine Lender LLC
|
Delaware
|
WELL Pappas Corporate Parcel Owner LLC
|
Delaware
|
WELL PM Properties LLC
|
Delaware
|
WELL Properties Intermediate Holdco LLC
|
Delaware
|
WELL SP Grove City Landlord LLC
|
Delaware
|
WELL SP Landlord LLC
|
Delaware
|
WELL SP Tenant LLC
|
Delaware
|
Wellesley Washington Street Housing I LLC
|
Delaware
|
Welltower 1915 North 34th Street, LLC
|
Wisconsin
|
Welltower 1950 Sunny Crest Drive GP, LLC
|
Delaware
|
Welltower 1950 Sunny Crest Drive, LP
|
Delaware
|
Welltower 2130 Continental Drive, LLC
|
Wisconsin
|
Welltower 5017 South 110th Street, LLC
|
Wisconsin
|
Welltower Ballard LLC
|
Minnesota
|
Welltower BV Westwood PropCo GP LLC
|
Delaware
|
Welltower CCRC OpCo LLC
|
Delaware
|
Welltower Charitable Foundation
|
Delaware
|
Welltower Cogir Landlord, LP
|
Delaware
|
Welltower Cogir Tenant, LLC
|
Delaware
|
Welltower Colorado Properties LLC
|
Delaware
|
Welltower Eclipse Bethesda PropCo LLC
|
Delaware
|
Welltower Eclipse Bethesda TRS LLC
|
Delaware
|
Welltower Eclipse Chevy Chase PropCo LLC
|
Delaware
|
Welltower Eclipse Chevy Chase TRS LLC
|
Delaware
|
Welltower Eclipse Issaquah PropCo LLC
|
Delaware
|
Welltower Eclipse Issaquah TRS LLC
|
Delaware
|
Welltower Eclipse Pleasanton PropCo LLC
|
Delaware
|
Welltower Eclipse Pleasanton TRS LLC
|
Delaware
|
Welltower Eclipse Sabre Springs PropCo LLC
|
Delaware
|
Welltower Eclipse Sabre Springs TRS LLC
|
Delaware
|
Welltower Eclipse Silas Burke PropCo LLC
|
Delaware
|
Welltower Eclipse Silas Burke TRS LLC
|
Delaware
|
Welltower HealthCare Properties II LLC
|
Delaware
|
Welltower HealthCare Properties LLC
|
Delaware
|
Welltower HealthCare Venture Properties LLC
|
Delaware
|
Welltower Iowa Holdco LLC
|
Delaware
|
WELLTOWER KISCO RIDEA LANDLORD, LLC
|
Delaware
|
WELLTOWER KISCO RIDEA TENANT, LLC
|
Delaware
|
Welltower KSL Owner LLC
|
Delaware
|
Welltower Management Company Holdco LLC
|
Delaware
|
Welltower Mission Viejo Medical Center JV, LLC
|
Delaware
|
Welltower NNN Group LLC
|
Delaware
|
Welltower Northbridge Landlord LLC
|
Delaware
|
Welltower Northbridge Tenant LLC
|
Delaware
|
Welltower OM Group LLC
|
Delaware
|
Welltower OM Member JV GP LLC
|
Delaware
|
Welltower OM Member JV LP
|
Delaware
|
Welltower OM Member REIT LLC
|
Delaware
|
Welltower OM PropCo GP LLC
|
Delaware
|
Welltower OpCo Group LLC
|
Delaware
|
Welltower Pegasus Landlord, LLC
|
Delaware
|
Welltower Pegasus Tenant, LLC
|
Delaware
|
Welltower Pegasus TRS LLC
|
Delaware
|
Welltower Propco Group Borrower LLC
|
Delaware
|
Welltower PropCo Group LLC
|
Delaware
|
Welltower REIT Holdings LLC
|
Delaware
|
Welltower TCG NNN Landlord, LLC
|
Delaware
|
Welltower TCG RIDEA Landlord, LLC
|
Delaware
|
Welltower TCG RIDEA Tenant, LLC
|
Delaware
|
Welltower TRS Holdco LLC
|
Delaware
|
Welltower Victory II GP LLC
|
Delaware
|
Welltower Victory II JV LP
|
Delaware
|
Welltower Victory II Landlord LP
|
Delaware
|
Welltower Victory II OpCo LLC
|
Delaware
|
Welltower Victory II PropCo LLC
|
Delaware
|
Welltower Victory II REIT LLC
|
Delaware
|
Welltower Victory II Tenant LP
|
Delaware
|
Welltower Victory II TRS LLC
|
Delaware
|
Welltower Victory III Landlord LLC
|
Delaware
|
Welltower Victory III OpCo LLC
|
Delaware
|
Welltower Victory III Tenant LP
|
Delaware
|
Welltower Victory III TRS LLC
|
Delaware
|
Welltower W128 N6900 Northfield Drive, LLC
|
Wisconsin
|
Westford Littleton Road I LLC
|
Delaware
|
Westminster Junction Venture, LLC
|
Minnesota
|
White Lake I, LLC
|
Delaware
|
Willow Manor Nursing Home, Inc.
|
Massachusetts
|
Wimbledon Opco Limited
|
United Kingdom
|
Windrose 310 Properties, L.L.C.
|
Tennessee
|
Windrose Congress I Properties, L.P.
|
Delaware
|
Windrose Congress II Properties, L.P.
|
Delaware
|
Windrose Lake Mead Properties, L.L.C.
|
Virginia
|
Windrose Mount Vernon Properties, L.L.C.
|
Virginia
|
Windrose Palm Court Properties, L.L.C.
|
Virginia
|
Windrose Princeton Properties, L.L.C.
|
Delaware
|
Windrose SPE Mount Vernon Properties, Inc.
|
Georgia
|
Windrose St. Louis I Properties, LLC
|
Delaware
|
Windrose Tulsa Properties, L.L.C.
|
Delaware
|
Windrose West Boca Properties, Ltd.
|
Florida
|
Windrose West Seneca Properties, LLC
|
Delaware
|
WMP West Seneca Management, LLC
|
Delaware
|
WMPT Congress I Management, L.L.C.
|
Delaware
|
WMPT Congress II Management, L.L.C.
|
Delaware
|
WMPT Princeton Management, L.L.C.
|
Delaware
|
WMPT Sacramento Properties, L.L.C.
|
Virginia
|
WMPT Sacramento, L.P.
|
Virginia
|
WMPT St. Louis I Management, LLC
|
Delaware
|
WMPT Stone Oak Properties, L.L.C.
|
Virginia
|
WMPT Stone Oak, L.P.
|
Virginia
|
WMPT Tulsa Management, L.L.C.
|
Delaware
|
WMPT West Boca Management, L.L.C.
|
Delaware
|
WR Brentwood Propco S.a.r.l.
|
Luxembourg
|
WR Coombe Propco S.a.r.l.
|
Luxembourg
|
WR Epsom Propco S.a.r.l.
|
Luxembourg
|
WR GP Limited
|
Jersey
|
WR Hindhead Propco S.a.r.l.
|
Luxembourg
|
WR Holdco 2 S.a.r.l.
|
Luxembourg
|
WR Holdco S.a.r.l.
|
Luxembourg
|
WR Investment Partners Limited
|
Jersey
|
WR Limited Partnership
|
Jersey
|
WR Midco Limited
|
United Kingdom
|
WR Signature DP 2 S.a.r.l.
|
Luxembourg
|
WR Signature Operations Limited
|
United Kingdom
|
WT UK OPCO 1 Limited
|
United Kingdom
|
WT UK OpCo 2 Limited
|
United Kingdom
|
WT UK OpCo 3 Limited
|
United Kingdom
|
•
|
Registration Statement (Form S-8 No. 333-126195) dated June 28, 2005 pertaining to the Health Care REIT, Inc. 2005 Long-Term Incentive Plan;
|
•
|
Registration Statement (Form S-8 No. 333-161131) dated August 6, 2009 pertaining to the Health Care REIT, Inc. Amended and Restated 2005 Long-Term Incentive Plan;
|
•
|
Registration Statement (Form S-8 No. 333-211832) dated June 3, 2016 pertaining to the Welltower Inc. 2016 Long-Term Incentive Plan;
|
•
|
Registration Statement (Form S-3 No. 333-225004) dated May 17, 2018 pertaining to an indeterminate amount of debt securities, common stock, preferred stock, depositary shares, warrants and units of Welltower Inc.;
|
•
|
Registration Statement (Form S-3 No. 333-225005) dated May 17,2018 pertaining to the Welltower Inc. Sixth Amended and Restated Dividend Reinvestment and Stock Purchase Plan; and
|
•
|
Registration Statement (Form S-8 No. 333-225006) dated May 17, 2018 pertaining to the Welltower Inc. Employee Stock Purchase Plan.
|
/s/ Jeffrey H. Donahue
|
|
/s/ Sergio D. Rivera
|
Jeffrey H. Donahue, Chairman
|
|
Sergio D. Rivera, Director
|
|
|
|
/s/ Kenneth J. Bacon
|
|
/s/ Johnese Spisso
|
Kenneth J. Bacon, Director
|
|
Johnese Spisso, Director
|
|
|
|
/s/ Karen DeSalvo
|
|
/s/ R. Scott Trumbull
|
Karen DeSalvo, Director
|
|
R. Scott Trumbull, Director
|
|
|
|
/s/ Geoffrey G. Meyers
|
|
/s/ Gary Whitelaw
|
Geoffrey G. Meyers, Director
|
|
Gary Whitelaw, Director
|
|
|
|
/s/ Timothy J. Naughton
|
|
/s/ Thomas J. DeRosa
|
Timothy J. Naughton, Director
|
|
Thomas J. DeRosa, Chief Executive Officer and Director
(Principal Executive Officer)
|
|
|
|
/s/ Sharon M. Oster
|
|
/s/ John A. Goodey
|
Sharon M. Oster, Director
|
|
John A. Goodey, Executive Vice President and
Chief Financial Officer (Principal Financial Officer)
|
|
|
|
/s/ Judith C. Pelham
|
|
/s/ Joshua T. Fieweger
|
Judith C. Pelham, Director
|
|
Joshua T. Fieweger, Vice President - Controller
(Principal Accounting Officer)
|
1.
|
|
I have reviewed this annual report on Form 10-K of Welltower Inc.;
|
||||
|
|
|
||||
2.
|
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
||||
|
|
|
||||
3.
|
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
||||
|
|
|
||||
4.
|
|
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
||||
|
(a)
|
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
|
||
|
(b)
|
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
|
||
|
(c)
|
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
|
||
|
(d)
|
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
|
||
5.
|
|
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
|
(a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
(b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
|
/s/ THOMAS J. DEROSA
|
|
|
Thomas J. DeRosa,
|
|
|
Chief Executive Officer
|
|
1.
|
|
I have reviewed this annual report on Form 10-K of Welltower Inc.;
|
||||
|
|
|
||||
2.
|
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
||||
|
|
|
||||
3.
|
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
||||
|
|
|
||||
4.
|
|
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
||||
|
(a)
|
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
|
||
|
|
|
|
|
||
|
(b)
|
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
|
||
|
|
|
|
|
||
|
(c)
|
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
|
||
|
|
|
|
|
||
|
(d)
|
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
|
5.
|
|
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
(a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
(b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
|
/s/ JOHN A. GOODEY
|
|
|
John A. Goodey,
|
|
|
Chief Financial Officer
|
|
|
|
|
|
|
|
|
|
||
|
/s/ THOMAS J. DEROSA
|
|
||
|
Thomas J. DeRosa,
|
|
||
|
Chief Executive Officer
Date: February 25, 2019
|
|
||
|
|
|
|
|
|
|
|
|
||
|
/s/ JOHN A. GOODEY
|
|
||
|
John A. Goodey,
|
|
||
|
Chief Financial Officer
Date: February 25, 2019
|
|
||
|