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,
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Toledo,
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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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Trading Symbol(s)
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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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WELL
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New York Stock Exchange
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4.800% Notes due 2028
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WELL28
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New York Stock Exchange
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4.500% Notes due 2034
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WELL34
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New York Stock Exchange
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Large accelerated filer
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☑
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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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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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•
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Named to Fortune's World's Most Admired Companies List;
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•
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Named to top quintile of Newsweek's inaugural America's Most Responsible Companies list;
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•
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Named to Corporate Responsibility Magazine's 20th Annual 100 Best Corporate Citizens ranking;
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•
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Named to Dow Jones Sustainability World Index for the second consecutive year and to the Dow Jones Sustainability North American Index for the fourth consecutive year;
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•
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Named Energy Star Partner of the Year for the first time;
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•
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Designated as GRESB Green Star for sustainability performance for the fifth consecutive year;
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•
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Named to the Bloomberg Gender-Equality Index;
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•
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Achieved ISS-ESG Prime status; and
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•
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Garnered highest environmental and social quality score ratings by ISS.
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Year(1)
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Total energy consumption in control boundary (MWh)(2)
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Control boundary energy use intensity (kWH/square feet)
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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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2018
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300,094
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26.20
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(1)%
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10.82%
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2017
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302,001
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26.37
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n/a
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8.76%
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2016
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360,342
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22.82
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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 (kgal)(2)
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Water use intensity (gallons/square feet)
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Like-for-like change in water consumption within control boundary(3)
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2018
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293,609
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25.6
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(3.40)%
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2017
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303,616
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26.5
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0.38%
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2016
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337,081
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26.4
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n/a
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•
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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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•
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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
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◦
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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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•
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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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•
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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. The status of the Health Reform Laws may be subject to change as a result of political, legislative, regulatory and administrative developments and judicial proceedings. While legislative attempts to completely repeal the Health Reform Laws have been unsuccessful to date, there have been multiple attempts to repeal or amend the Health Reform Laws through legislative action and legal challenges. Since taking office, President Trump and the current U.S. Congress have sought to modify, repeal or otherwise invalidate all or portions of the Health Reform Laws. For example, in December 2017, the U.S. Congress passed the Tax Cuts and Jobs Act, which included a provision that eliminates the penalty under the Health Reform Laws’ individual mandate, effective in 2019, and could impact the future state of the HIEs established by the Health Reform Laws. In December 2018, a federal district court in Texas ruled the individual mandate was unconstitutional and could not be severed from the Health Reform Laws. As a result, the court ruled the remaining provisions of the Health Reform Laws were also invalid, though the court declined to issue a preliminary injunction with respect to the Health Reform Laws. In December 2019, the Fifth Circuit Court of Appeals agreed that the individual mandate was unconstitutional, but remanded the case back to the district court to reassess how much of the Health Reform Laws would be damaged without the individual mandate provision, and if the individual mandate could indeed be severed. In January 2020, 21 state Attorney Generals urged the Supreme Court of the United States to decide whether or not the Health Reform Laws should be struck down as unconstitutional, claiming that the Fifth Circuit erroneously remanded the case to the Texas district court. The House of Representatives filed a similar petition and motion to expedite. This litigation is still ongoing, but places great uncertainty upon the longevity and nature of the Health Reform Laws moving forward. There is still uncertainty with respect to the additional impact President Trump’s Administration and the U.S. Congress may have, if any, and any changes will likely take time to unfold, and could have an impact on coverage and reimbursement for health care items and services covered by plans that were authorized by the Health Reform Laws. We cannot predict whether the existing Health Reform Laws, or future health care reform legislation or regulatory changes, will have a material impact on our operators’ or tenants’ property or business.
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•
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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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•
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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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•
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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 of the 75% gross income test (discussed below) or (ii) 95% of our gross income over the amount of qualifying gross income for purposes of the 95% gross income test (discussed below) multiplied by (2) a fraction intended to reflect our profitability;
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•
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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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•
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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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•
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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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•
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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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•
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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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•
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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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•
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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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•
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a citizen or resident of the United States;
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an entity classified as a corporation or partnership, 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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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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•
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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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the status of the economy;
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the status of capital markets, including availability and cost of capital;
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uncertainty from the expected discontinuance of LIBOR and the transition to any other interest rate benchmark;
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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 would be subject to 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
|
|
—
|
|
$
|
—
|
|
$
|
—
|
|
|
—
|
|
$
|
—
|
|
$
|
—
|
|
|
2
|
|
$
|
29,810
|
|
$
|
(2,240
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)
|
Alabama
|
|
2
|
|
15,133
|
|
6,083
|
|
|
2
|
|
19,705
|
|
2,569
|
|
|
8
|
|
94,244
|
|
10,565
|
|
||||||
Arkansas
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
|
2
|
|
42,529
|
|
3,529
|
|
||||||
Arizona
|
|
6
|
|
86,883
|
|
32,517
|
|
|
—
|
|
—
|
|
—
|
|
|
8
|
|
87,655
|
|
11,077
|
|
||||||
California
|
|
82
|
|
3,052,393
|
|
688,631
|
|
|
23
|
|
456,935
|
|
64,633
|
|
|
45
|
|
1,092,865
|
|
105,239
|
|
||||||
Colorado
|
|
11
|
|
427,566
|
|
87,463
|
|
|
12
|
|
302,374
|
|
32,854
|
|
|
2
|
|
33,628
|
|
5,074
|
|
||||||
Connecticut
|
|
3
|
|
66,838
|
|
17,820
|
|
|
8
|
|
117,918
|
|
15,211
|
|
|
1
|
|
41,421
|
|
5,499
|
|
||||||
District Of Columbia
|
|
2
|
|
78,356
|
|
14,540
|
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
||||||
Delaware
|
|
3
|
|
69,290
|
|
25,484
|
|
|
7
|
|
114,126
|
|
9,544
|
|
|
—
|
|
46,998
|
|
1,402
|
|
||||||
Florida
|
|
14
|
|
898,178
|
|
144,974
|
|
|
51
|
|
583,500
|
|
56,682
|
|
|
42
|
|
529,060
|
|
74,346
|
|
||||||
Georgia
|
|
9
|
|
127,018
|
|
38,612
|
|
|
3
|
|
40,852
|
|
3,570
|
|
|
13
|
|
236,915
|
|
32,572
|
|
||||||
Iowa
|
|
4
|
|
75,655
|
|
28,926
|
|
|
7
|
|
57,537
|
|
5,884
|
|
|
1
|
|
7,734
|
|
1,648
|
|
||||||
Idaho
|
|
1
|
|
22,405
|
|
5,433
|
|
|
—
|
|
67
|
|
—
|
|
|
2
|
|
55,317
|
|
1,399
|
|
||||||
Illinois
|
|
16
|
|
454,088
|
|
119,759
|
|
|
25
|
|
356,243
|
|
31,919
|
|
|
7
|
|
108,941
|
|
14,426
|
|
||||||
Indiana
|
|
—
|
|
—
|
|
—
|
|
|
28
|
|
358,904
|
|
45,696
|
|
|
10
|
|
164,034
|
|
22,324
|
|
||||||
Kansas
|
|
3
|
|
67,263
|
|
15,133
|
|
|
27
|
|
242,844
|
|
27,460
|
|
|
5
|
|
62,249
|
|
8,665
|
|
||||||
Kentucky
|
|
2
|
|
37,074
|
|
14,461
|
|
|
6
|
|
50,485
|
|
4,187
|
|
|
1
|
|
6,792
|
|
762
|
|
||||||
Louisiana
|
|
3
|
|
50,062
|
|
15,957
|
|
|
1
|
|
8,076
|
|
840
|
|
|
—
|
|
—
|
|
—
|
|
||||||
Massachusetts
|
|
19
|
|
565,730
|
|
113,921
|
|
|
9
|
|
110,005
|
|
16,484
|
|
|
7
|
|
110,662
|
|
4,556
|
|
||||||
Maryland
|
|
8
|
|
393,479
|
|
90,687
|
|
|
24
|
|
298,974
|
|
18,155
|
|
|
12
|
|
283,567
|
|
28,576
|
|
||||||
Maine
|
|
1
|
|
25,151
|
|
11,995
|
|
|
—
|
|
—
|
|
—
|
|
|
1
|
|
18,601
|
|
2,693
|
|
||||||
Michigan
|
|
6
|
|
165,217
|
|
32,231
|
|
|
18
|
|
207,961
|
|
20,225
|
|
|
3
|
|
70,250
|
|
7,706
|
|
||||||
Minnesota
|
|
3
|
|
83,838
|
|
15,771
|
|
|
11
|
|
233,938
|
|
21,552
|
|
|
9
|
|
182,594
|
|
30,679
|
|
||||||
Missouri
|
|
6
|
|
153,312
|
|
25,085
|
|
|
1
|
|
12,089
|
|
854
|
|
|
11
|
|
201,245
|
|
23,578
|
|
||||||
Mississippi
|
|
2
|
|
14,870
|
|
8,354
|
|
|
1
|
|
10,820
|
|
—
|
|
|
1
|
|
37,866
|
|
1,020
|
|
||||||
Montana
|
|
1
|
|
5,635
|
|
4,484
|
|
|
1
|
|
6,131
|
|
767
|
|
|
—
|
|
—
|
|
—
|
|
||||||
North Carolina
|
|
2
|
|
113,352
|
|
19,680
|
|
|
50
|
|
372,570
|
|
54,641
|
|
|
26
|
|
479,061
|
|
39,975
|
|
||||||
Nebraska
|
|
—
|
|
—
|
|
—
|
|
|
4
|
|
29,852
|
|
4,418
|
|
|
2
|
|
32,943
|
|
4,885
|
|
||||||
New Hampshire
|
|
—
|
|
—
|
|
—
|
|
|
4
|
|
47,720
|
|
7,341
|
|
|
1
|
|
12,038
|
|
1,721
|
|
||||||
New Jersey
|
|
26
|
|
688,084
|
|
210,140
|
|
|
41
|
|
771,913
|
|
84,672
|
|
|
15
|
|
407,653
|
|
51,813
|
|
||||||
New Mexico
|
|
1
|
|
17,505
|
|
1,548
|
|
|
—
|
|
—
|
|
—
|
|
|
3
|
|
29,424
|
|
3,594
|
|
||||||
Nevada
|
|
4
|
|
47,210
|
|
23,816
|
|
|
1
|
|
18,780
|
|
3,767
|
|
|
8
|
|
100,851
|
|
10,794
|
|
||||||
New York
|
|
27
|
|
596,987
|
|
141,993
|
|
|
4
|
|
41,850
|
|
7,271
|
|
|
18
|
|
434,793
|
|
17,454
|
|
||||||
Ohio
|
|
17
|
|
422,614
|
|
66,041
|
|
|
34
|
|
288,499
|
|
35,030
|
|
|
9
|
|
125,346
|
|
13,712
|
|
||||||
Oklahoma
|
|
2
|
|
37,620
|
|
3,650
|
|
|
20
|
|
219,772
|
|
25,505
|
|
|
2
|
|
22,736
|
|
4,361
|
|
||||||
Oregon
|
|
1
|
|
10,339
|
|
2,678
|
|
|
1
|
|
2,793
|
|
818
|
|
|
2
|
|
55,131
|
|
4,059
|
|
||||||
Pennsylvania
|
|
14
|
|
222,217
|
|
67,864
|
|
|
71
|
|
837,818
|
|
116,500
|
|
|
1
|
|
34,315
|
|
2,312
|
|
||||||
South Carolina
|
|
1
|
|
4,086
|
|
7,121
|
|
|
8
|
|
37,460
|
|
3,069
|
|
|
3
|
|
33,762
|
|
3,684
|
|
||||||
Tennessee
|
|
2
|
|
48,041
|
|
16,259
|
|
|
4
|
|
37,879
|
|
4,791
|
|
|
9
|
|
177,859
|
|
18,778
|
|
||||||
Texas
|
|
33
|
|
1,088,682
|
|
234,874
|
|
|
37
|
|
393,201
|
|
53,592
|
|
|
71
|
|
1,386,701
|
|
135,489
|
|
||||||
Utah
|
|
2
|
|
20,355
|
|
7,875
|
|
|
1
|
|
23,614
|
|
2,103
|
|
|
—
|
|
—
|
|
—
|
|
||||||
Virginia
|
|
5
|
|
282,587
|
|
77,302
|
|
|
27
|
|
281,446
|
|
29,811
|
|
|
6
|
|
119,944
|
|
14,492
|
|
||||||
Washington
|
|
24
|
|
625,662
|
|
137,873
|
|
|
7
|
|
93,483
|
|
10,254
|
|
|
9
|
|
218,008
|
|
26,987
|
|
||||||
Wisconsin
|
|
2
|
|
19,850
|
|
8,493
|
|
|
4
|
|
67,702
|
|
8,640
|
|
|
5
|
|
94,723
|
|
6,123
|
|
||||||
West Virginia
|
|
—
|
|
—
|
|
—
|
|
|
3
|
|
45,336
|
|
5,107
|
|
|
—
|
|
—
|
|
—
|
|
||||||
Total domestic
|
|
370
|
|
11,180,625
|
|
2,585,528
|
|
|
586
|
|
7,201,172
|
|
836,416
|
|
|
383
|
|
7,310,265
|
|
755,328
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Canada
|
|
106
|
|
2,150,044
|
|
452,734
|
|
|
6
|
|
146,737
|
|
10,341
|
|
|
—
|
|
—
|
|
—
|
|
||||||
United Kingdom
|
|
57
|
|
1,634,009
|
|
352,658
|
|
|
66
|
|
1,228,409
|
|
106,336
|
|
|
4
|
|
268,010
|
|
25,587
|
|
||||||
Total international
|
|
163
|
|
3,784,053
|
|
805,392
|
|
|
72
|
|
1,375,146
|
|
116,677
|
|
|
4
|
|
268,010
|
|
25,587
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Grand total
|
|
533
|
|
$
|
14,964,678
|
|
$
|
3,390,920
|
|
|
658
|
|
$
|
8,576,318
|
|
$
|
953,093
|
|
|
387
|
|
$
|
7,578,275
|
|
$
|
780,915
|
|
|
|
Occupancy(1)
|
|
Average Annualized Revenues(2)
|
|
|
||||||||
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
|
|
||||
Seniors Housing Operating(3)
|
|
86.9%
|
|
87.5%
|
|
$
|
56,329
|
|
|
$
|
60,635
|
|
|
per unit
|
Triple-net(4)
|
|
84.3%
|
|
84.9%
|
|
14,578
|
|
|
12,831
|
|
|
per bed/unit
|
||
Outpatient Medical(5)
|
|
94.1%
|
|
93.1%
|
|
34
|
|
|
34
|
|
|
per sq. ft.
|
|
|
Expiration Year(1)
|
||||||||||||||||||||||||||||||||||||||||||
|
|
2020
|
|
2021
|
|
2022
|
|
2023
|
|
2024
|
|
2025
|
|
2026
|
|
2027
|
|
2028
|
|
2029
|
|
Thereafter
|
||||||||||||||||||||||
Triple-net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||
Properties
|
|
11
|
|
|
7
|
|
|
10
|
|
|
1
|
|
|
4
|
|
|
48
|
|
|
76
|
|
|
18
|
|
|
15
|
|
|
15
|
|
|
431
|
|
|||||||||||
Base rent(2)
|
|
$
|
3,782
|
|
|
$
|
12,292
|
|
|
$
|
8,889
|
|
|
$
|
840
|
|
|
$
|
11,262
|
|
|
$
|
53,216
|
|
|
$
|
103,179
|
|
|
$
|
35,381
|
|
|
$
|
22,036
|
|
|
$
|
33,619
|
|
|
$
|
492,113
|
|
% of base rent
|
|
0.5
|
%
|
|
1.6
|
%
|
|
1.1
|
%
|
|
0.1
|
%
|
|
1.5
|
%
|
|
6.9
|
%
|
|
13.3
|
%
|
|
4.6
|
%
|
|
2.8
|
%
|
|
4.3
|
%
|
|
63.3
|
%
|
|||||||||||
Units
|
|
1,101
|
|
|
1,394
|
|
|
1,264
|
|
|
70
|
|
|
692
|
|
|
3,033
|
|
|
6,085
|
|
|
2,350
|
|
|
1,633
|
|
|
1,429
|
|
|
44,811
|
|
|||||||||||
% of units
|
|
1.7
|
%
|
|
2.2
|
%
|
|
2.0
|
%
|
|
0.1
|
%
|
|
1.1
|
%
|
|
4.7
|
%
|
|
9.5
|
%
|
|
3.7
|
%
|
|
2.6
|
%
|
|
2.2
|
%
|
|
70.2
|
%
|
|||||||||||
Outpatient Medical:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Square feet
|
|
1,748,858
|
|
|
2,053,686
|
|
|
2,165,074
|
|
|
2,158,927
|
|
|
2,230,230
|
|
|
1,305,946
|
|
|
1,670,290
|
|
|
1,025,948
|
|
|
1,052,671
|
|
|
1,148,176
|
|
|
6,183,564
|
|
|||||||||||
Base rent(2)
|
|
$
|
48,233
|
|
|
$
|
57,464
|
|
|
$
|
58,846
|
|
|
$
|
58,295
|
|
|
$
|
65,687
|
|
|
$
|
34,681
|
|
|
$
|
42,112
|
|
|
$
|
25,805
|
|
|
$
|
27,501
|
|
|
$
|
29,829
|
|
|
$
|
139,889
|
|
% of base rent
|
|
8.2
|
%
|
|
9.8
|
%
|
|
10.0
|
%
|
|
9.9
|
%
|
|
11.2
|
%
|
|
5.9
|
%
|
|
7.2
|
%
|
|
4.4
|
%
|
|
4.7
|
%
|
|
5.1
|
%
|
|
23.6
|
%
|
|||||||||||
Leases
|
|
471
|
|
|
422
|
|
|
433
|
|
|
442
|
|
|
355
|
|
|
213
|
|
|
208
|
|
|
137
|
|
|
118
|
|
|
152
|
|
|
214
|
|
|||||||||||
% of leases
|
|
14.9
|
%
|
|
13.3
|
%
|
|
13.7
|
%
|
|
14.0
|
%
|
|
11.2
|
%
|
|
6.7
|
%
|
|
6.6
|
%
|
|
4.3
|
%
|
|
3.7
|
%
|
|
4.8
|
%
|
|
6.8
|
%
|
|
|
12/31/2014
|
|
|
12/31/2015
|
|
|
12/31/2016
|
|
|
12/31/2017
|
|
|
12/31/2018
|
|
|
12/31/2019
|
|
||||||
S & P 500
|
|
$
|
100.00
|
|
|
$
|
101.38
|
|
|
$
|
113.51
|
|
|
$
|
138.29
|
|
|
$
|
132.23
|
|
|
$
|
173.86
|
|
Welltower Inc.
|
|
100.00
|
|
|
94.28
|
|
|
97.45
|
|
|
97.65
|
|
|
112.59
|
|
|
138.52
|
|
||||||
FTSE NAREIT Equity
|
|
100.00
|
|
|
103.20
|
|
|
111.99
|
|
|
117.84
|
|
|
112.39
|
|
|
141.61
|
|
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, 2019 through October 31, 2019
|
|
4,546
|
|
|
$
|
91.04
|
|
|
|
|
|
November 1, 2019 through November 30, 2019
|
|
728
|
|
|
86.12
|
|
|
|
|
|
|
December 1, 2019 through December 31, 2019
|
|
891
|
|
|
78.67
|
|
|
|
|
|
|
Totals
|
|
6,165
|
|
|
$
|
89.43
|
|
|
|
|
|
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
|
|
$
|
1,039,520
|
|
|
42.8
|
%
|
|
533
|
|
Triple-net
|
|
918,743
|
|
|
37.9
|
%
|
|
658
|
|
|
Outpatient Medical
|
|
469,035
|
|
|
19.3
|
%
|
|
387
|
|
|
Totals
|
|
$
|
2,427,298
|
|
|
100.0
|
%
|
|
1,578
|
|
•
|
In January 2019, we established an unsecured commercial paper program. Under the terms of the program, we may issue, from time to time, unsecured commercial paper with maturities that vary, but do not exceed 397 days from the date of issue, up to a maximum aggregate principal amount outstanding at any time of $1,000,000,000.
|
•
|
In February 2019, we elected to effect the mandatory conversion of all of the outstanding 6.50% Series I Cumulative Convertible Preferred Stock. Each share of convertible stock was converted into 0.8857 shares of common stock.
|
•
|
In February 2019, we entered into an amended and restated Equity Shelf Program (as defined below) pursuant to which we may offer and sell up to $1,500,000,000 of common stock from time to time. We sold 18,591,000 shares of common stock under our current and previous Equity Shelf Programs and DRIP (as defined below), via both cash settle and forward sale agreements, generating expected gross proceeds of approximately $1,498,731,000.
|
•
|
In February 2019, we completed the issuance of $500,000,000 of 3.625% senior unsecured notes due 2024 and $550,000,000 of 4.125% senior unsecured notes due 2029 for net proceeds of approximately $1,036,964,000.
|
•
|
In March 2019 we repaid our $600,000,000 of 4.125% senior unsecured notes due 2019 and $450,000,000 of 6.125% senior unsecured notes due 2020.
|
•
|
In August 2019, we completed the issuance of $750,000,000 of 3.10% senior unsecured notes due 2030 and a follow-on issuance of $450,000,000 of 3.625% senior unsecured notes due 2024 priced to yield 2.494%, for net proceeds of approximately $1,209,328,000.
|
•
|
In September 2019, we repaid our $450,000,000 of 4.95% senior unsecured notes due 2021 and $600,000,000 of 5.25% senior unsecured notes due 2022.
|
•
|
In December 2019, we completed the issuance of $500,000,000 of 2.70% senior unsecured notes due 2027. The net proceeds of approximately $495,066,000 will be used to fund renewable energy, water conservation, energy efficiency and green building projects. Additionally, we completed the issuance of $300,000,000 of 2.95% Canadian-denominated senior unsecured notes due 2027 generating net proceeds of approximately CAD $297,668,000.
|
•
|
In December 2019, we redeemed all of the outstanding $300,000,000 Canadian-denominated 3.35% senior unsecured notes due 2020.
|
•
|
We extinguished $230,108,000 of secured debt at a blended average interest rate of 4.35% throughout 2019.
|
|
|
Properties
|
|
Investment Amount(1)
|
|
Capitalization Rates(2)
|
|
Book Amount(3)
|
|||||
Seniors Housing Operating
|
|
62
|
|
|
$
|
1,459,254
|
|
|
5.1%
|
|
$
|
1,802,836
|
|
Triple-net
|
|
10
|
|
|
217,658
|
|
|
6.5%
|
|
227,379
|
|
||
Outpatient Medical
|
|
105
|
|
|
2,396,642
|
|
|
5.6%
|
|
2,491,159
|
|
||
Totals
|
|
177
|
|
|
$
|
4,073,554
|
|
|
5.4%
|
|
$
|
4,521,374
|
|
|
|
Properties
|
|
Proceeds(1)
|
|
Capitalization Rates(2)
|
|
Book Amount(3)
|
|||||
Seniors Housing Operating(4)
|
|
55
|
|
|
$
|
1,803,413
|
|
|
5.4%
|
|
$
|
1,232,816
|
|
Triple-net
|
|
57
|
|
|
902,731
|
|
|
7.9%
|
|
667,632
|
|
||
Outpatient Medical(5)
|
|
1
|
|
|
8,500
|
|
|
10.5%
|
|
482
|
|
||
Totals
|
|
113
|
|
|
$
|
2,714,644
|
|
|
6.3%
|
|
$
|
1,900,930
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Net income
|
|
$
|
1,330,410
|
|
|
$
|
829,750
|
|
|
$
|
540,613
|
|
Net income attributable to common stockholders
|
|
1,232,432
|
|
|
758,250
|
|
|
463,595
|
|
|||
Funds from operations attributable to common stockholders
|
|
1,577,080
|
|
|
1,392,183
|
|
|
1,165,576
|
|
|||
Consolidated net operating income
|
|
2,431,264
|
|
|
2,267,482
|
|
|
2,232,716
|
|
|
|
Year Ended December 31,
|
||||
|
|
2019
|
|
2018
|
|
2017
|
Net debt to book capitalization ratio
|
|
46.5%
|
|
45.0%
|
|
42.9%
|
Net debt to undepreciated book capitalization ratio
|
|
39.4%
|
|
37.8%
|
|
36.3%
|
Net debt to market capitalization ratio
|
|
29.6%
|
|
31.3%
|
|
31.2%
|
|
|
|
|
|
|
|
Adjusted interest coverage ratio
|
|
4.14x
|
|
4.11x
|
|
4.36x
|
Adjusted fixed charge coverage ratio
|
|
3.78x
|
|
3.44x
|
|
3.54x
|
|
|
|
December 31,(1)
|
||||
|
|
|
2019
|
|
2018
|
|
2017
|
Property mix:
|
|
|
|
|
|
|
|
|
Seniors Housing Operating
|
|
43%
|
|
43%
|
|
40%
|
|
Triple-net
|
|
38%
|
|
40%
|
|
43%
|
|
Outpatient Medical
|
|
19%
|
|
17%
|
|
17%
|
|
|
|
|
|
|
|
|
Relationship mix:
|
|
|
|
|
|
|
|
|
Sunrise Senior Living(2)
|
|
14%
|
|
15%
|
|
14%
|
|
ProMedica
|
|
9%
|
|
4%
|
|
—%
|
|
Revera(2)
|
|
6%
|
|
7%
|
|
7%
|
|
Genesis HealthCare
|
|
5%
|
|
6%
|
|
9%
|
|
Belmont Village
|
|
3%
|
|
3%
|
|
3%
|
|
Remaining
|
|
63%
|
|
65%
|
|
67%
|
|
|
|
|
|
|
|
|
Geographic mix:
|
|
|
|
|
|
|
|
|
California
|
|
13%
|
|
14%
|
|
13%
|
|
United Kingdom
|
|
8%
|
|
9%
|
|
9%
|
|
Texas
|
|
8%
|
|
8%
|
|
7%
|
|
New Jersey
|
|
7%
|
|
8%
|
|
8%
|
|
Canada
|
|
7%
|
|
7%
|
|
8%
|
|
Remaining
|
|
57%
|
|
54%
|
|
55%
|
|
|
Year Ended
|
|
One Year Change
|
|
Year Ended
|
|
One Year Change
|
|
Two Year Change
|
|||||||||||||||||||||||
|
|
December 31,
|
|
December 31,
|
|
|
|
|
|
December 31,
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2017
|
|
$
|
|
%
|
|
$
|
|
%
|
|||||||||||||||
Cash, cash equivalents and restricted cash at beginning of period
|
|
$
|
316,129
|
|
|
$
|
309,303
|
|
|
$
|
6,826
|
|
|
2
|
%
|
|
$
|
607,220
|
|
|
$
|
(297,917
|
)
|
|
-49
|
%
|
|
$
|
(291,091
|
)
|
|
-48
|
%
|
Net cash provided from (used in):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
n/a
|
|
||||||||||||
Operating activities
|
|
1,535,968
|
|
|
1,583,944
|
|
|
(47,976
|
)
|
|
-3
|
%
|
|
1,434,177
|
|
|
149,767
|
|
|
10
|
%
|
|
101,791
|
|
|
7
|
%
|
||||||
Investing activities
|
|
(2,048,791
|
)
|
|
(2,386,471
|
)
|
|
337,680
|
|
|
-14
|
%
|
|
154,581
|
|
|
(2,541,052
|
)
|
|
n/a
|
|
|
(2,203,372
|
)
|
|
n/a
|
|
||||||
Financing activities
|
|
577,150
|
|
|
818,368
|
|
|
(241,218
|
)
|
|
-29
|
%
|
|
(1,913,527
|
)
|
|
2,731,895
|
|
|
n/a
|
|
|
2,490,677
|
|
|
n/a
|
|
||||||
Effect of foreign currency translation
|
|
5,310
|
|
|
(9,015
|
)
|
|
14,325
|
|
|
n/a
|
|
|
26,852
|
|
|
(35,867
|
)
|
|
n/a
|
|
|
(21,542
|
)
|
|
-80
|
%
|
||||||
Cash, cash equivalents and restricted cash at end of period
|
|
$
|
385,766
|
|
|
$
|
316,129
|
|
|
$
|
69,637
|
|
|
22
|
%
|
|
$
|
309,303
|
|
|
$
|
6,826
|
|
|
2
|
%
|
|
$
|
76,463
|
|
|
25
|
%
|
|
|
Year Ended
|
|
One Year Change
|
|
Year Ended
|
|
One Year Change
|
|
Two Year Change
|
|||||||||||||||||||||||
|
|
December 31,
|
|
December 31,
|
|
|
|
|
|
December 31,
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2017
|
|
$
|
|
%
|
|
$
|
|
%
|
|||||||||||||||
New development
|
|
$
|
323,488
|
|
|
$
|
160,706
|
|
|
$
|
162,782
|
|
|
101
|
%
|
|
$
|
232,715
|
|
|
$
|
(72,009
|
)
|
|
-31
|
%
|
|
$
|
90,773
|
|
|
39
|
%
|
Recurring capital expenditures, tenant improvements and lease commissions
|
|
136,535
|
|
|
90,190
|
|
|
46,345
|
|
|
51
|
%
|
|
67,797
|
|
|
22,393
|
|
|
33
|
%
|
|
68,738
|
|
|
101
|
%
|
||||||
Renovations, redevelopments and other capital improvements
|
|
192,289
|
|
|
175,993
|
|
|
16,296
|
|
|
9
|
%
|
|
182,479
|
|
|
(6,486
|
)
|
|
-4
|
%
|
|
9,810
|
|
|
5
|
%
|
||||||
Total
|
|
$
|
652,312
|
|
|
$
|
426,889
|
|
|
$
|
225,423
|
|
|
53
|
%
|
|
$
|
482,991
|
|
|
$
|
(56,102
|
)
|
|
-12
|
%
|
|
$
|
169,321
|
|
|
35
|
%
|
|
|
Payments Due by Period
|
||||||||||||||||||
Contractual Obligations
|
|
Total
|
|
2020
|
|
2021-2022
|
|
2023-2024
|
|
Thereafter
|
||||||||||
Unsecured revolving credit facility and commercial paper(1,2)
|
|
$
|
1,588,600
|
|
|
$
|
643,600
|
|
|
$
|
—
|
|
|
$
|
945,000
|
|
|
$
|
—
|
|
Senior unsecured notes and term credit facilities:(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
U.S. Dollar senior unsecured notes
|
|
8,100,000
|
|
|
—
|
|
|
—
|
|
|
2,450,000
|
|
|
5,650,000
|
|
|||||
Canadian Dollar senior unsecured notes(3)
|
|
231,446
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
231,446
|
|
|||||
Pounds Sterling senior unsecured notes(3)
|
|
1,393,245
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,393,245
|
|
|||||
U.S. Dollar term credit facility
|
|
510,000
|
|
|
—
|
|
|
10,000
|
|
|
500,000
|
|
|
—
|
|
|||||
Canadian Dollar term credit facility(3)
|
|
192,871
|
|
|
—
|
|
|
—
|
|
|
192,871
|
|
|
—
|
|
|||||
Secured debt:(2,3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Consolidated
|
|
2,993,342
|
|
|
354,329
|
|
|
861,052
|
|
|
771,911
|
|
|
1,006,050
|
|
|||||
Unconsolidated
|
|
826,396
|
|
|
57,728
|
|
|
52,172
|
|
|
95,783
|
|
|
620,713
|
|
|||||
Contractual interest obligations:(4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Unsecured revolving credit facility and commercial paper
|
|
86,065
|
|
|
25,302
|
|
|
48,610
|
|
|
12,153
|
|
|
—
|
|
|||||
Senior unsecured notes and term loans(3)
|
|
4,144,774
|
|
|
410,322
|
|
|
838,436
|
|
|
735,197
|
|
|
2,160,819
|
|
|||||
Consolidated secured debt(3)
|
|
510,973
|
|
|
101,577
|
|
|
163,885
|
|
|
100,441
|
|
|
145,070
|
|
|||||
Unconsolidated secured debt(3)
|
|
179,382
|
|
|
28,056
|
|
|
52,130
|
|
|
39,623
|
|
|
59,573
|
|
|||||
Financing lease liabilities(5)
|
|
186,335
|
|
|
9,121
|
|
|
16,935
|
|
|
70,601
|
|
|
89,678
|
|
|||||
Operating lease obligations(5)
|
|
1,185,632
|
|
|
23,356
|
|
|
45,469
|
|
|
43,411
|
|
|
1,073,396
|
|
|||||
Purchase obligations(6)
|
|
727,558
|
|
|
536,105
|
|
|
150,656
|
|
|
27,787
|
|
|
13,010
|
|
|||||
Total contractual obligations
|
|
$
|
22,856,619
|
|
|
$
|
2,189,496
|
|
|
$
|
2,239,345
|
|
|
$
|
5,984,778
|
|
|
$
|
12,443,000
|
|
|
|
Year Ended
|
|
One Year Change
|
|
Year Ended
|
|
One Year Change
|
|
Two Year Change
|
|||||||||||||||||||||||
|
|
December 31,
|
|
December 31,
|
|
|
|
|
|
December 31,
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
2019
|
|
2018
|
|
Amount
|
|
%
|
|
2017
|
|
Amount
|
|
%
|
|
Amount
|
|
%
|
|||||||||||||||
Net income
|
|
$
|
1,330,410
|
|
|
$
|
829,750
|
|
|
$
|
500,660
|
|
|
60
|
%
|
|
$
|
540,613
|
|
|
$
|
289,137
|
|
|
53
|
%
|
|
$
|
789,797
|
|
|
146
|
%
|
NICS
|
|
1,232,432
|
|
|
758,250
|
|
|
474,182
|
|
|
63
|
%
|
|
463,595
|
|
|
294,655
|
|
|
64
|
%
|
|
768,837
|
|
|
166
|
%
|
||||||
FFO
|
|
1,577,080
|
|
|
1,392,183
|
|
|
184,897
|
|
|
13
|
%
|
|
1,165,576
|
|
|
226,607
|
|
|
19
|
%
|
|
411,504
|
|
|
35
|
%
|
||||||
Adjusted EBITDA
|
|
2,328,202
|
|
|
2,153,005
|
|
|
175,197
|
|
|
8
|
%
|
|
2,128,429
|
|
|
24,576
|
|
|
1
|
%
|
|
199,773
|
|
|
9
|
%
|
||||||
Consolidated NOI
|
|
2,431,264
|
|
|
2,267,482
|
|
|
163,782
|
|
|
7
|
%
|
|
2,232,716
|
|
|
34,766
|
|
|
2
|
%
|
|
198,548
|
|
|
9
|
%
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Per share data (fully diluted):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net income attributable to common
stockholders
|
|
$
|
3.05
|
|
|
$
|
2.02
|
|
|
$
|
1.03
|
|
|
51
|
%
|
|
$
|
1.26
|
|
|
$
|
0.76
|
|
|
60
|
%
|
|
$
|
1.79
|
|
|
142
|
%
|
Funds from operations attributable to
common stockholders
|
|
$
|
3.91
|
|
|
$
|
3.71
|
|
|
$
|
0.20
|
|
|
5
|
%
|
|
$
|
3.16
|
|
|
$
|
0.55
|
|
|
17
|
%
|
|
$
|
0.75
|
|
|
24
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Adjusted interest coverage ratio
|
|
4.14x
|
|
|
4.11x
|
|
|
0.03x
|
|
|
1
|
%
|
|
4.36x
|
|
|
-0.25x
|
|
|
-6
|
%
|
|
-0.22x
|
|
|
-5
|
%
|
||||||
Adjusted fixed charge coverage ratio
|
|
3.78x
|
|
|
3.44x
|
|
|
0.34x
|
|
|
10
|
%
|
|
3.54x
|
|
|
-0.10x
|
|
|
-3
|
%
|
|
0.24x
|
|
|
7
|
%
|
|
|
2018 and 2019 Same Store Pool
|
|
One Year Change
|
|
2017 and 2018 Same Store Pool
|
|
One Year Change
|
|||||||||||||||||||||
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2018
|
|
2017
|
|
$
|
|
%
|
|||||||||||||
SSNOI(1)
|
|
$
|
699,867
|
|
|
$
|
701,493
|
|
|
$
|
(1,626
|
)
|
|
-0.2
|
%
|
|
$
|
816,416
|
|
|
824,415
|
|
|
$
|
(7,999
|
)
|
|
-1.0
|
%
|
|
|
|
|
Year Ended
|
|
One Year Change
|
|
Year Ended
|
|
One Year Change
|
|
Two Year Change
|
|||||||||||||||||||||||
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
|
|
December 31,
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2017
|
|
$
|
|
%
|
|
$
|
|
%
|
|||||||||||||||
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
|
|
Resident fees and services
|
|
$
|
3,448,175
|
|
|
$
|
3,234,852
|
|
|
$
|
213,323
|
|
|
7
|
%
|
|
$
|
2,779,423
|
|
|
$
|
455,429
|
|
|
16
|
%
|
|
$
|
668,752
|
|
|
24
|
%
|
|
|
Interest income
|
|
36
|
|
|
578
|
|
|
(542
|
)
|
|
-94
|
%
|
|
69
|
|
|
509
|
|
|
738
|
%
|
|
(33
|
)
|
|
-48
|
%
|
||||||
|
|
Other income
|
|
8,658
|
|
|
5,024
|
|
|
3,634
|
|
|
72
|
%
|
|
5,127
|
|
|
(103
|
)
|
|
-2
|
%
|
|
3,531
|
|
|
69
|
%
|
||||||
|
|
Total revenues
|
|
3,456,869
|
|
|
3,240,454
|
|
|
216,415
|
|
|
7
|
%
|
|
2,784,619
|
|
|
455,835
|
|
|
16
|
%
|
|
672,250
|
|
|
24
|
%
|
||||||
Property operating expenses
|
|
2,417,349
|
|
|
2,255,432
|
|
|
161,917
|
|
|
7
|
%
|
|
1,904,593
|
|
|
350,839
|
|
|
18
|
%
|
|
512,756
|
|
|
27
|
%
|
||||||||
|
|
NOI(1)
|
|
1,039,520
|
|
|
985,022
|
|
|
54,498
|
|
|
6
|
%
|
|
880,026
|
|
|
104,996
|
|
|
12
|
%
|
|
159,494
|
|
|
18
|
%
|
||||||
Other expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
|
Depreciation and amortization
|
|
553,189
|
|
|
529,449
|
|
|
23,740
|
|
|
4
|
%
|
|
484,796
|
|
|
44,653
|
|
|
9
|
%
|
|
68,393
|
|
|
14
|
%
|
||||||
|
|
Interest expense
|
|
67,983
|
|
|
69,060
|
|
|
(1,077
|
)
|
|
-2
|
%
|
|
63,265
|
|
|
5,795
|
|
|
9
|
%
|
|
4,718
|
|
|
7
|
%
|
||||||
|
|
Loss (gain) on extinguishment of debt, net
|
|
1,614
|
|
|
110
|
|
|
1,504
|
|
|
1,367
|
%
|
|
3,785
|
|
|
(3,675
|
)
|
|
-97
|
%
|
|
(2,171
|
)
|
|
-57
|
%
|
||||||
|
|
Impairment of assets
|
|
2,145
|
|
|
7,599
|
|
|
(5,454
|
)
|
|
-72
|
%
|
|
21,949
|
|
|
(14,350
|
)
|
|
-65
|
%
|
|
(19,804
|
)
|
|
-90
|
%
|
||||||
|
|
Other expenses
|
|
26,348
|
|
|
6,624
|
|
|
19,724
|
|
|
298
|
%
|
|
8,347
|
|
|
(1,723
|
)
|
|
-21
|
%
|
|
18,001
|
|
|
216
|
%
|
||||||
|
|
|
|
651,279
|
|
|
612,842
|
|
|
38,437
|
|
|
6
|
%
|
|
582,142
|
|
|
30,700
|
|
|
5
|
%
|
|
69,137
|
|
|
12
|
%
|
||||||
Income (loss) from continuing operations before income taxes and other items
|
|
388,241
|
|
|
372,180
|
|
|
16,061
|
|
|
4
|
%
|
|
297,884
|
|
|
74,296
|
|
|
25
|
%
|
|
90,357
|
|
|
30
|
%
|
||||||||
Income tax benefit (expense)
|
|
6,246
|
|
|
1,202
|
|
|
5,044
|
|
|
420
|
%
|
|
(16,430
|
)
|
|
17,632
|
|
|
107
|
%
|
|
22,676
|
|
|
138
|
%
|
||||||||
Income (loss) from unconsolidated entities
|
|
12,388
|
|
|
(28,142
|
)
|
|
40,530
|
|
|
144
|
%
|
|
(105,236
|
)
|
|
77,094
|
|
|
73
|
%
|
|
117,624
|
|
|
112
|
%
|
||||||||
Gain (loss) on real estate dispositions, net
|
|
528,747
|
|
|
(2,245
|
)
|
|
530,992
|
|
|
23,652
|
%
|
|
56,295
|
|
|
(58,540
|
)
|
|
-104
|
%
|
|
472,452
|
|
|
839
|
%
|
||||||||
Income from continuing operations
|
|
935,622
|
|
|
342,995
|
|
|
592,627
|
|
|
173
|
%
|
|
232,513
|
|
|
110,482
|
|
|
48
|
%
|
|
703,109
|
|
|
302
|
%
|
||||||||
Net income (loss)
|
|
935,622
|
|
|
342,995
|
|
|
592,627
|
|
|
173
|
%
|
|
232,513
|
|
|
110,482
|
|
|
48
|
%
|
|
703,109
|
|
|
302
|
%
|
||||||||
Less: Net income (loss) attributable to noncontrolling interests
|
|
56,513
|
|
|
(660
|
)
|
|
57,173
|
|
|
8,663
|
%
|
|
8,472
|
|
|
(9,132
|
)
|
|
-108
|
%
|
|
48,041
|
|
|
567
|
%
|
||||||||
Net income (loss) attributable to common stockholders
|
|
$
|
879,109
|
|
|
$
|
343,655
|
|
|
$
|
535,454
|
|
|
156
|
%
|
|
$
|
224,041
|
|
|
$
|
119,614
|
|
|
53
|
%
|
|
$
|
655,068
|
|
|
292
|
%
|
Location
|
|
Units/Beds
|
|
Commitment
|
|
Balance
|
|
Est. Completion
|
|||||
Wandsworth, UK
|
|
97
|
|
|
$
|
78,221
|
|
|
$
|
69,877
|
|
|
1Q20
|
Taylor, PA
|
|
113
|
|
|
14,272
|
|
|
12,405
|
|
|
1Q20
|
||
Beavercreek, OH
|
|
100
|
|
|
12,032
|
|
|
11,561
|
|
|
1Q20
|
||
Potomac, MD
|
|
120
|
|
|
56,720
|
|
|
23,145
|
|
|
4Q20
|
||
Beckenham, UK
|
|
100
|
|
|
62,497
|
|
|
27,423
|
|
|
3Q21
|
||
Hendon, UK
|
|
102
|
|
|
74,041
|
|
|
33,698
|
|
|
4Q21
|
||
Barnet, UK
|
|
100
|
|
|
68,335
|
|
|
28,499
|
|
|
4Q21
|
||
|
|
732
|
|
|
$
|
366,118
|
|
|
206,608
|
|
|
|
|
Toronto, ON
|
|
Project in planning stage
|
|
43,854
|
|
|
|
||||||
Washington, DC
|
|
Project in planning stage
|
|
18,394
|
|
|
|
||||||
Brookline, MA
|
|
Project in planning stage
|
|
17,382
|
|
|
|
||||||
|
|
|
|
|
|
$
|
268,873
|
|
|
|
|
|
Year Ended
|
|
Year Ended
|
|
Year Ended
|
||||||||||||
|
|
December 31, 2019
|
|
December 31, 2018
|
|
December 31, 2017
|
||||||||||||
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
||||||
|
|
Amount
|
|
Interest Rate
|
|
Amount
|
|
Interest Rate
|
|
Amount
|
|
Interest Rate
|
||||||
Beginning balance
|
|
$
|
1,810,587
|
|
|
3.87%
|
|
$
|
1,988,700
|
|
|
3.66%
|
|
$
|
2,463,249
|
|
|
3.94%
|
Debt transferred in
|
|
—
|
|
|
—%
|
|
35,830
|
|
|
3.84%
|
|
—
|
|
|
—%
|
|||
Debt issued
|
|
343,696
|
|
|
3.11%
|
|
45,447
|
|
|
3.40%
|
|
228,772
|
|
|
2.72%
|
|||
Debt assumed
|
|
183,061
|
|
|
4.58%
|
|
121,612
|
|
|
5.55%
|
|
—
|
|
|
—%
|
|||
Debt extinguished
|
|
(219,864
|
)
|
|
4.28%
|
|
(240,095
|
)
|
|
4.83%
|
|
(668,804
|
)
|
|
4.81%
|
|||
Debt transferred out
|
|
(12,072
|
)
|
|
3.89%
|
|
—
|
|
|
—%
|
|
—
|
|
|
—%
|
|||
Debt deconsolidated
|
|
—
|
|
|
—%
|
|
—
|
|
|
—%
|
|
(60,000
|
)
|
|
3.80%
|
|||
Principal payments
|
|
(43,997
|
)
|
|
3.45%
|
|
(47,886
|
)
|
|
3.59%
|
|
(47,153
|
)
|
|
3.60%
|
|||
Foreign currency
|
|
53,626
|
|
|
3.33%
|
|
(93,021
|
)
|
|
3.31%
|
|
72,636
|
|
|
3.23%
|
|||
Ending balance
|
|
$
|
2,115,037
|
|
|
3.54%
|
|
$
|
1,810,587
|
|
|
3.87%
|
|
$
|
1,988,700
|
|
|
3.66%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Monthly averages
|
|
$
|
1,966,892
|
|
|
3.70%
|
|
$
|
1,915,663
|
|
|
3.74%
|
|
$
|
2,065,477
|
|
|
3.66%
|
|
|
2018 and 2019 Same Store Pool
|
|
One Year Change
|
|
2017 and 2018 Same Store Pool
|
|
One Year Change
|
||||||||||||||||||||||
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2018
|
|
2017
|
|
$
|
|
%
|
||||||||||||||
SSNOI(1)
|
|
$
|
516,340
|
|
|
$
|
508,897
|
|
|
$
|
7,443
|
|
|
1.5
|
%
|
|
$
|
516,008
|
|
|
$
|
508,257
|
|
|
$
|
7,751
|
|
|
1.5
|
%
|
|
|
|
Year Ended
|
|
One Year Change
|
|
Year Ended
|
|
One Year Change
|
|
Two Year Change
|
|||||||||||||||||||||||
|
|
|
December 31,
|
|
December 31,
|
|
|
|
|
|
December 31,
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2017
|
|
$
|
|
%
|
|
$
|
|
%
|
|||||||||||||||
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Rental income
|
|
$
|
903,798
|
|
|
$
|
828,865
|
|
|
$
|
74,933
|
|
|
9
|
%
|
|
$
|
885,811
|
|
|
$
|
(56,946
|
)
|
|
-6
|
%
|
|
$
|
17,987
|
|
|
2
|
%
|
|
Interest income
|
|
62,599
|
|
|
54,926
|
|
|
7,673
|
|
|
14
|
%
|
|
73,742
|
|
|
(18,816
|
)
|
|
-26
|
%
|
|
(11,143
|
)
|
|
-15
|
%
|
||||||
|
Other income
|
|
6,246
|
|
|
17,173
|
|
|
(10,927
|
)
|
|
-64
|
%
|
|
7,531
|
|
|
9,642
|
|
|
128
|
%
|
|
(1,285
|
)
|
|
-17
|
%
|
||||||
|
Total revenues
|
|
972,643
|
|
|
900,964
|
|
|
71,679
|
|
|
8
|
%
|
|
967,084
|
|
|
(66,120
|
)
|
|
-7
|
%
|
|
5,559
|
|
|
1
|
%
|
||||||
|
Property operating expenses
|
|
53,900
|
|
|
915
|
|
|
52,985
|
|
|
5,791
|
%
|
|
—
|
|
|
915
|
|
|
n/a
|
|
|
53,900
|
|
|
n/a
|
|
||||||
|
NOI(1)
|
|
918,743
|
|
|
900,049
|
|
|
18,694
|
|
|
2
|
%
|
|
967,084
|
|
|
(67,035
|
)
|
|
-7
|
%
|
|
(48,341
|
)
|
|
-5
|
%
|
||||||
Other expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Depreciation and amortization
|
|
232,626
|
|
|
235,480
|
|
|
(2,854
|
)
|
|
-1
|
%
|
|
243,830
|
|
|
(8,350
|
)
|
|
-3
|
%
|
|
(11,204
|
)
|
|
-5
|
%
|
||||||
|
Interest expense
|
|
12,892
|
|
|
14,225
|
|
|
(1,333
|
)
|
|
-9
|
%
|
|
15,194
|
|
|
(969
|
)
|
|
-6
|
%
|
|
(2,302
|
)
|
|
-15
|
%
|
||||||
|
Loss (gain) on derivatives and financial instruments, net
|
|
(4,399
|
)
|
|
(4,016
|
)
|
|
(383
|
)
|
|
-10
|
%
|
|
2,284
|
|
|
(6,300
|
)
|
|
-276
|
%
|
|
(6,683
|
)
|
|
-293
|
%
|
||||||
|
Loss (gain) on extinguishment of debt, net
|
|
—
|
|
|
(32
|
)
|
|
32
|
|
|
100
|
%
|
|
29,083
|
|
|
(29,115
|
)
|
|
-100
|
%
|
|
(29,083
|
)
|
|
-100
|
%
|
||||||
|
Provision for loan losses
|
|
18,690
|
|
|
—
|
|
|
18,690
|
|
|
n/a
|
|
|
62,966
|
|
|
(62,966
|
)
|
|
-100
|
%
|
|
(44,276
|
)
|
|
-70
|
%
|
||||||
|
Impairment of assets
|
|
11,926
|
|
|
107,980
|
|
|
(96,054
|
)
|
|
-89
|
%
|
|
96,909
|
|
|
11,071
|
|
|
11
|
%
|
|
(84,983
|
)
|
|
-88
|
%
|
||||||
|
Other expenses(2)
|
|
13,771
|
|
|
90,975
|
|
|
(77,204
|
)
|
|
-85
|
%
|
|
116,689
|
|
|
(25,714
|
)
|
|
-22
|
%
|
|
(102,918
|
)
|
|
-88
|
%
|
||||||
|
|
|
285,506
|
|
|
444,612
|
|
|
(159,106
|
)
|
|
-36
|
%
|
|
566,955
|
|
|
(122,343
|
)
|
|
-22
|
%
|
|
(281,449
|
)
|
|
-50
|
%
|
||||||
Income from continuing operations before income taxes and other items
|
|
633,237
|
|
|
455,437
|
|
|
177,800
|
|
|
39
|
%
|
|
400,129
|
|
|
55,308
|
|
|
14
|
%
|
|
233,108
|
|
|
58
|
%
|
|||||||
Income tax benefit (expense)
|
|
(4,209
|
)
|
|
1,611
|
|
|
(5,820
|
)
|
|
-361
|
%
|
|
(4,291
|
)
|
|
5,902
|
|
|
138
|
%
|
|
82
|
|
|
2
|
%
|
|||||||
Income (loss) from unconsolidated entities
|
|
22,985
|
|
|
21,938
|
|
|
1,047
|
|
|
5
|
%
|
|
19,428
|
|
|
2,510
|
|
|
13
|
%
|
|
3,557
|
|
|
18
|
%
|
|||||||
Gain (loss) on real estate dispositions, net
|
|
218,322
|
|
|
196,589
|
|
|
21,733
|
|
|
11
|
%
|
|
286,325
|
|
|
(89,736
|
)
|
|
-31
|
%
|
|
(68,003
|
)
|
|
-24
|
%
|
|||||||
Income from continuing operations
|
|
870,335
|
|
|
675,575
|
|
|
194,760
|
|
|
29
|
%
|
|
701,591
|
|
|
(26,016
|
)
|
|
-4
|
%
|
|
168,744
|
|
|
24
|
%
|
|||||||
Net income
|
|
870,335
|
|
|
675,575
|
|
|
194,760
|
|
|
29
|
%
|
|
701,591
|
|
|
(26,016
|
)
|
|
-4
|
%
|
|
168,744
|
|
|
24
|
%
|
|||||||
Less: Net income attributable to noncontrolling interests
|
|
36,271
|
|
|
19,306
|
|
|
16,965
|
|
|
88
|
%
|
|
4,603
|
|
|
14,703
|
|
|
319
|
%
|
|
31,668
|
|
|
688
|
%
|
|||||||
Net income attributable to common stockholders
|
|
$
|
834,064
|
|
|
$
|
656,269
|
|
|
$
|
177,795
|
|
|
27
|
%
|
|
$
|
696,988
|
|
|
$
|
(40,719
|
)
|
|
-6
|
%
|
|
$
|
137,076
|
|
|
20
|
%
|
Location
|
|
Units/Beds
|
|
Commitment
|
|
Balance
|
|
Est. Completion
|
|||||
Union, KY
|
|
162
|
|
|
$
|
34,600
|
|
|
$
|
25,649
|
|
|
1Q20
|
Westerville, OH
|
|
102
|
|
|
22,800
|
|
|
19,922
|
|
|
1Q20
|
||
Droitwich, UK
|
|
70
|
|
|
16,805
|
|
|
11,730
|
|
|
2Q20
|
||
Thousand Oaks, CA
|
|
82
|
|
|
24,763
|
|
|
9,971
|
|
|
4Q20
|
||
Redhill, UK
|
|
76
|
|
|
21,098
|
|
|
6,287
|
|
|
1Q21
|
||
Leicester, UK
|
|
60
|
|
|
14,861
|
|
|
3,505
|
|
|
1Q21
|
||
Wombourne, UK
|
|
66
|
|
|
15,923
|
|
|
3,515
|
|
|
2Q21
|
||
Total
|
|
618
|
|
|
$
|
150,850
|
|
|
$
|
80,579
|
|
|
|
|
|
Year Ended
|
|
Year Ended
|
|
Year Ended
|
||||||||||||
|
|
December 31, 2019
|
|
December 31, 2018
|
|
December 31, 2017
|
||||||||||||
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
||||||
|
|
Amount
|
|
Interest Rate
|
|
Amount
|
|
Interest Rate
|
|
Amount
|
|
Interest Rate
|
||||||
Beginning balance
|
|
$
|
288,386
|
|
|
3.63%
|
|
$
|
347,474
|
|
|
3.55%
|
|
$
|
594,199
|
|
|
4.58%
|
Debt transferred in
|
|
12,072
|
|
|
3.89%
|
|
—
|
|
|
—%
|
|
—
|
|
|
—%
|
|||
Debt issued
|
|
—
|
|
|
—%
|
|
—
|
|
|
—%
|
|
13,000
|
|
|
4.57%
|
|||
Debt extinguished
|
|
—
|
|
|
—%
|
|
(4,107
|
)
|
|
4.94%
|
|
(274,048
|
)
|
|
5.95%
|
|||
Debt transferred out
|
|
—
|
|
|
—%
|
|
(35,830
|
)
|
|
3.84%
|
|
—
|
|
|
—%
|
|||
Principal payments
|
|
(4,017
|
)
|
|
5.21%
|
|
(3,982
|
)
|
|
5.38%
|
|
(5,863
|
)
|
|
5.66%
|
|||
Foreign currency
|
|
9,597
|
|
|
2.99%
|
|
(15,169
|
)
|
|
3.44%
|
|
20,186
|
|
|
2.91%
|
|||
Ending balance
|
|
$
|
306,038
|
|
|
3.60%
|
|
$
|
288,386
|
|
|
3.63%
|
|
$
|
347,474
|
|
|
3.55%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Monthly averages
|
|
$
|
294,080
|
|
|
3.63%
|
|
$
|
321,730
|
|
|
3.51%
|
|
$
|
408,688
|
|
|
3.91%
|
|
|
2018 and 2019 Same Store Pool
|
|
One Year Change
|
|
2017 and 2018 Same Store Pool
|
|
One Year Change
|
||||||||||||||||||||||
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2018
|
|
2017
|
|
$
|
|
%
|
||||||||||||||
SSNOI(1)
|
|
$
|
311,612
|
|
|
$
|
308,139
|
|
|
$
|
3,473
|
|
|
1.1
|
%
|
|
$
|
343,059
|
|
|
$
|
336,990
|
|
|
$
|
6,069
|
|
|
1.8
|
%
|
|
|
|
Year Ended
|
|
One Year Change
|
|
Year Ended
|
|
One Year Change
|
|
Two Year Change
|
|||||||||||||||||||||||
|
|
|
December 31,
|
|
December 31,
|
|
|
|
|
|
December 31,
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2017
|
|
$
|
|
%
|
|
$
|
|
%
|
|||||||||||||||
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Rental income
|
|
$
|
684,602
|
|
|
$
|
551,557
|
|
|
$
|
133,045
|
|
|
24
|
%
|
|
$
|
560,060
|
|
|
$
|
(8,503
|
)
|
|
-2
|
%
|
|
$
|
124,542
|
|
|
22
|
%
|
|
Interest income
|
|
1,195
|
|
|
310
|
|
|
885
|
|
|
285
|
%
|
|
—
|
|
|
310
|
|
|
n/a
|
|
|
1,195
|
|
|
n/a
|
|
||||||
|
Other income
|
|
2,031
|
|
|
4,939
|
|
|
(2,908
|
)
|
|
-59
|
%
|
|
3,340
|
|
|
1,599
|
|
|
48
|
%
|
|
(1,309
|
)
|
|
-39
|
%
|
||||||
|
Total revenues
|
|
687,828
|
|
|
556,806
|
|
|
131,022
|
|
|
24
|
%
|
|
563,400
|
|
|
(6,594
|
)
|
|
-1
|
%
|
|
124,428
|
|
|
22
|
%
|
||||||
Property operating expenses
|
|
218,793
|
|
|
176,670
|
|
|
42,123
|
|
|
24
|
%
|
|
179,332
|
|
|
(2,662
|
)
|
|
-1
|
%
|
|
39,461
|
|
|
22
|
%
|
|||||||
|
NOI(1)
|
|
469,035
|
|
|
380,136
|
|
|
88,899
|
|
|
23
|
%
|
|
384,068
|
|
|
(3,932
|
)
|
|
-1
|
%
|
|
84,967
|
|
|
22
|
%
|
||||||
Other expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Depreciation and amortization
|
|
241,258
|
|
|
185,530
|
|
|
55,728
|
|
|
30
|
%
|
|
193,094
|
|
|
(7,564
|
)
|
|
-4
|
%
|
|
48,164
|
|
|
25
|
%
|
||||||
|
Interest expense
|
|
13,411
|
|
|
7,051
|
|
|
6,360
|
|
|
90
|
%
|
|
10,015
|
|
|
(2,964
|
)
|
|
-30
|
%
|
|
3,396
|
|
|
34
|
%
|
||||||
|
Loss (gain) on extinguishment of debt, net
|
|
—
|
|
|
11,928
|
|
|
(11,928
|
)
|
|
-100
|
%
|
|
4,373
|
|
|
7,555
|
|
|
173
|
%
|
|
(4,373
|
)
|
|
-100
|
%
|
||||||
|
Impairment of assets
|
|
14,062
|
|
|
—
|
|
|
14,062
|
|
|
n/a
|
|
|
5,625
|
|
|
(5,625
|
)
|
|
-100
|
%
|
|
8,437
|
|
|
150
|
%
|
||||||
|
Other expenses
|
|
1,788
|
|
|
7,570
|
|
|
(5,782
|
)
|
|
-76
|
%
|
|
1,911
|
|
|
5,659
|
|
|
296
|
%
|
|
(123
|
)
|
|
-6
|
%
|
||||||
|
|
|
270,519
|
|
|
212,079
|
|
|
58,440
|
|
|
28
|
%
|
|
215,018
|
|
|
(2,939
|
)
|
|
-1
|
%
|
|
55,501
|
|
|
26
|
%
|
||||||
Income from continuing operations before income taxes and other item
|
|
198,516
|
|
|
168,057
|
|
|
30,459
|
|
|
18
|
%
|
|
169,050
|
|
|
(993
|
)
|
|
-1
|
%
|
|
29,466
|
|
|
17
|
%
|
|||||||
Income tax benefit (expense)
|
|
(2,710
|
)
|
|
(125
|
)
|
|
(2,585
|
)
|
|
-2,068
|
%
|
|
(1,477
|
)
|
|
1,352
|
|
|
92
|
%
|
|
(1,233
|
)
|
|
-83
|
%
|
|||||||
Income (loss) from unconsolidated entities
|
|
7,061
|
|
|
5,563
|
|
|
1,498
|
|
|
27
|
%
|
|
2,683
|
|
|
2,880
|
|
|
107
|
%
|
|
4,378
|
|
|
163
|
%
|
|||||||
Gain (loss) on real estate dispositions, net
|
|
972
|
|
|
221,231
|
|
|
(220,259
|
)
|
|
-100
|
%
|
|
1,630
|
|
|
219,601
|
|
|
13,472
|
%
|
|
(658
|
)
|
|
-40
|
%
|
|||||||
Income from continuing operations
|
|
203,839
|
|
|
394,726
|
|
|
(190,887
|
)
|
|
-48
|
%
|
|
171,886
|
|
|
222,840
|
|
|
130
|
%
|
|
31,953
|
|
|
19
|
%
|
|||||||
Net income (loss)
|
|
203,839
|
|
|
394,726
|
|
|
(190,887
|
)
|
|
-48
|
%
|
|
171,886
|
|
|
222,840
|
|
|
130
|
%
|
|
31,953
|
|
|
19
|
%
|
|||||||
Less: Net income (loss) attributable to noncontrolling interests
|
|
5,194
|
|
|
6,150
|
|
|
(956
|
)
|
|
-16
|
%
|
|
4,765
|
|
|
1,385
|
|
|
29
|
%
|
|
429
|
|
|
9
|
%
|
|||||||
Net income (loss) attributable to common stockholders
|
|
$
|
198,645
|
|
|
$
|
388,576
|
|
|
$
|
(189,931
|
)
|
|
-49
|
%
|
|
$
|
167,121
|
|
|
$
|
221,455
|
|
|
133
|
%
|
|
$
|
31,524
|
|
|
19
|
%
|
Location
|
|
Square Feet
|
|
Commitment
|
|
Balance
|
|
Est. Completion
|
|||||
Porter, TX
|
|
55,000
|
|
|
$
|
20,800
|
|
|
$
|
16,124
|
|
|
1Q20
|
Lowell, MA
|
|
50,668
|
|
|
11,900
|
|
|
10,288
|
|
|
1Q20
|
||
Katy, TX
|
|
36,500
|
|
|
12,028
|
|
|
3,251
|
|
|
2Q20
|
||
Brooklyn, NY
|
|
140,955
|
|
|
105,306
|
|
|
80,799
|
|
|
3Q20
|
||
Total
|
|
283,123
|
|
|
$
|
150,034
|
|
|
$
|
110,462
|
|
|
|
|
|
Year Ended
|
|
Year Ended
|
|
Year Ended
|
||||||||||||
|
|
December 31, 2019
|
|
December 31, 2018
|
|
December 31, 2017
|
||||||||||||
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
||||||
|
|
Amount
|
|
Interest Rate
|
|
Amount
|
|
Interest Rate
|
|
Amount
|
|
Interest Rate
|
||||||
Beginning balance
|
|
$
|
386,738
|
|
|
4.20%
|
|
$
|
279,951
|
|
|
4.72%
|
|
$
|
404,079
|
|
|
4.85%
|
Debt assumed
|
|
202,084
|
|
|
4.12%
|
|
171,275
|
|
|
3.99%
|
|
23,094
|
|
|
6.67%
|
|||
Debt extinguished
|
|
(10,244
|
)
|
|
5.75%
|
|
(61,291
|
)
|
|
7.43%
|
|
(137,416
|
)
|
|
5.99%
|
|||
Principal payments
|
|
(6,311
|
)
|
|
4.97%
|
|
(3,197
|
)
|
|
5.91%
|
|
(9,806
|
)
|
|
6.85%
|
|||
Ending balance
|
|
$
|
572,267
|
|
|
3.97%
|
|
$
|
386,738
|
|
|
4.20%
|
|
$
|
279,951
|
|
|
4.72%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Monthly averages
|
|
$
|
397,756
|
|
|
4.15%
|
|
$
|
238,214
|
|
|
4.25%
|
|
$
|
294,694
|
|
|
4.62%
|
|
|
|
Year Ended
|
|
One Year Change
|
|
Year Ended
|
|
One Year Change
|
|
Two Year Change
|
|||||||||||||||||||||||
|
|
|
December 31,
|
|
December 31,
|
|
|
|
|
|
December 31,
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2017
|
|
$
|
|
%
|
|
$
|
|
%
|
|||||||||||||||
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
|
Other income
|
|
$
|
3,966
|
|
|
$
|
2,275
|
|
|
$
|
1,691
|
|
|
74
|
%
|
|
$
|
1,538
|
|
|
$
|
737
|
|
|
48
|
%
|
|
$
|
2,428
|
|
|
158
|
%
|
Expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Interest expense
|
|
461,273
|
|
|
436,256
|
|
|
25,017
|
|
|
6
|
%
|
|
396,148
|
|
|
40,108
|
|
|
10
|
%
|
|
65,125
|
|
|
16
|
%
|
||||||
|
General and administrative expenses
|
|
126,549
|
|
|
126,383
|
|
|
166
|
|
|
0
|
%
|
|
122,008
|
|
|
4,375
|
|
|
4
|
%
|
|
4,541
|
|
|
4
|
%
|
||||||
|
Loss (gain) on extinguishments of debt, net
|
|
82,541
|
|
|
4,091
|
|
|
78,450
|
|
|
1,918
|
%
|
|
—
|
|
|
4,091
|
|
|
n/a
|
|
|
82,541
|
|
|
n/a
|
|
||||||
|
Other expenses
|
|
10,705
|
|
|
7,729
|
|
|
2,976
|
|
|
39
|
%
|
|
50,829
|
|
|
(43,100
|
)
|
|
-85
|
%
|
|
(40,124
|
)
|
|
-79
|
%
|
||||||
|
Total expenses
|
|
681,068
|
|
|
574,459
|
|
|
106,609
|
|
|
19
|
%
|
|
568,985
|
|
|
5,474
|
|
|
1
|
%
|
|
112,083
|
|
|
20
|
%
|
||||||
Loss from continuing operations before income taxes
|
|
(677,102
|
)
|
|
(572,184
|
)
|
|
(104,918
|
)
|
|
-18
|
%
|
|
(567,447
|
)
|
|
(4,737
|
)
|
|
-1
|
%
|
|
(109,655
|
)
|
|
-19
|
%
|
|||||||
Income tax benefit (expense)
|
|
(2,284
|
)
|
|
(11,362
|
)
|
|
9,078
|
|
|
80
|
%
|
|
2,070
|
|
|
(13,432
|
)
|
|
-649
|
%
|
|
(4,354
|
)
|
|
-210
|
%
|
|||||||
Loss from continuing operations
|
|
(679,386
|
)
|
|
(583,546
|
)
|
|
(95,840
|
)
|
|
-16
|
%
|
|
(565,377
|
)
|
|
(18,169
|
)
|
|
-3
|
%
|
|
(114,009
|
)
|
|
-20
|
%
|
|||||||
Preferred stock dividends
|
|
—
|
|
|
46,704
|
|
|
(46,704
|
)
|
|
-100
|
%
|
|
49,410
|
|
|
(2,706
|
)
|
|
-5
|
%
|
|
(49,410
|
)
|
|
-100
|
%
|
|||||||
Preferred stock redemption charge
|
|
—
|
|
|
—
|
|
|
—
|
|
|
n/a
|
|
|
9,769
|
|
|
(9,769
|
)
|
|
-100
|
%
|
|
(9,769
|
)
|
|
-100
|
%
|
|||||||
Net loss attributable to common stockholders
|
|
$
|
(679,386
|
)
|
|
$
|
(630,250
|
)
|
|
$
|
(49,136
|
)
|
|
-8
|
%
|
|
$
|
(624,556
|
)
|
|
$
|
(5,694
|
)
|
|
-1
|
%
|
|
$
|
(54,830
|
)
|
|
-9
|
%
|
|
|
Year Ended
|
|
One Year Change
|
|
Year Ended
|
|
One Year Change
|
|
Two Year Change
|
|||||||||||||||||||||||
|
|
December 31,
|
|
December 31,
|
|
|
|
|
|
December 31,
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
2019
|
|
2018
|
|
$
|
|
%
|
|
2017
|
|
$
|
|
%
|
|
$
|
|
%
|
|||||||||||||||
Senior unsecured notes
|
|
$
|
402,133
|
|
|
$
|
387,955
|
|
|
$
|
14,178
|
|
|
4
|
%
|
|
$
|
364,773
|
|
|
$
|
23,182
|
|
|
6
|
%
|
|
$
|
37,360
|
|
|
10
|
%
|
Secured debt
|
|
—
|
|
|
115
|
|
|
(115
|
)
|
|
-100
|
%
|
|
127
|
|
|
(12
|
)
|
|
-9
|
%
|
|
(127
|
)
|
|
-100
|
%
|
||||||
Unsecured revolving credit facility and commercial paper program
|
|
43,861
|
|
|
34,626
|
|
|
9,235
|
|
|
27
|
%
|
|
17,863
|
|
|
16,763
|
|
|
94
|
%
|
|
25,998
|
|
|
146
|
%
|
||||||
Loan expense
|
|
15,279
|
|
|
13,560
|
|
|
1,719
|
|
|
13
|
%
|
|
13,385
|
|
|
175
|
|
|
1
|
%
|
|
1,894
|
|
|
14
|
%
|
||||||
Totals
|
|
$
|
461,273
|
|
|
$
|
436,256
|
|
|
$
|
25,017
|
|
|
6
|
%
|
|
$
|
396,148
|
|
|
$
|
40,108
|
|
|
10
|
%
|
|
$
|
65,125
|
|
|
16
|
%
|
|
|
Year Ended December 31,
|
||||||||||
FFO Reconciliation:
|
|
2019
|
|
2018
|
|
2017
|
||||||
Net income attributable to common stockholders
|
|
$
|
1,232,432
|
|
|
$
|
758,250
|
|
|
$
|
463,595
|
|
Depreciation and amortization
|
|
1,027,073
|
|
|
950,459
|
|
|
921,720
|
|
|||
Impairment of assets
|
|
28,133
|
|
|
115,579
|
|
|
124,483
|
|
|||
Loss (gain) on real estate dispositions, net
|
|
(748,041
|
)
|
|
(415,575
|
)
|
|
(344,250
|
)
|
|||
Noncontrolling interests
|
|
(20,197
|
)
|
|
(69,193
|
)
|
|
(60,018
|
)
|
|||
Unconsolidated entities
|
|
57,680
|
|
|
52,663
|
|
|
60,046
|
|
|||
Funds from operations attributable to common stockholders
|
|
$
|
1,577,080
|
|
|
$
|
1,392,183
|
|
|
$
|
1,165,576
|
|
|
|
|
|
|
|
|
||||||
Average diluted shares outstanding:
|
|
403,808
|
|
|
375,250
|
|
|
369,001
|
|
|||
|
|
|
|
|
|
|
||||||
Per diluted share data:
|
|
|
|
|
|
|
||||||
Net income attributable to common stockholders
|
|
$
|
3.05
|
|
|
$
|
2.02
|
|
|
$
|
1.26
|
|
Funds from operations attributable to common stockholders
|
|
$
|
3.91
|
|
|
$
|
3.71
|
|
|
$
|
3.16
|
|
|
|
Year Ended December 31,
|
||||||||||
Adjusted EBITDA Reconciliation:
|
|
2019
|
|
2018
|
|
2017
|
||||||
Net income
|
|
$
|
1,330,410
|
|
|
$
|
829,750
|
|
|
$
|
540,613
|
|
Interest expense
|
|
555,559
|
|
|
526,592
|
|
|
484,622
|
|
|||
Income tax expense (benefit)
|
|
2,957
|
|
|
8,674
|
|
|
20,128
|
|
|||
Depreciation and amortization
|
|
1,027,073
|
|
|
950,459
|
|
|
921,720
|
|
|||
EBITDA
|
|
2,915,999
|
|
|
2,315,475
|
|
|
1,967,083
|
|
|||
Loss (income) from unconsolidated entities
|
|
(42,434
|
)
|
|
641
|
|
|
83,125
|
|
|||
Stock-based compensation expense(1)
|
|
25,047
|
|
|
27,646
|
|
|
19,102
|
|
|||
Loss (gain) on extinguishment of debt, net
|
|
84,155
|
|
|
16,097
|
|
|
37,241
|
|
|||
Loss (gain) on real estate dispositions, net
|
|
(748,041
|
)
|
|
(415,575
|
)
|
|
(344,250
|
)
|
|||
Impairment of assets
|
|
28,133
|
|
|
115,579
|
|
|
124,483
|
|
|||
Provision for loan losses
|
|
18,690
|
|
|
—
|
|
|
62,966
|
|
|||
Loss (gain) on derivatives and financial instruments, net
|
|
(4,399
|
)
|
|
(4,016
|
)
|
|
2,284
|
|
|||
Other expenses(1)
|
|
51,052
|
|
|
111,990
|
|
|
176,395
|
|
|||
Additional other income
|
|
—
|
|
|
(14,832
|
)
|
|
—
|
|
|||
Adjusted EBITDA
|
|
$
|
2,328,202
|
|
|
$
|
2,153,005
|
|
|
$
|
2,128,429
|
|
|
|
|
|
|
|
|
||||||
Adjusted Interest Coverage Ratio:
|
|
|
|
|
|
|
||||||
Interest expense
|
|
$
|
555,559
|
|
|
$
|
526,592
|
|
|
$
|
484,622
|
|
Capitalized interest
|
|
15,272
|
|
|
7,905
|
|
|
13,489
|
|
|||
Non-cash interest expense
|
|
(8,645
|
)
|
|
(10,860
|
)
|
|
(10,359
|
)
|
|||
Total interest
|
|
562,186
|
|
|
523,637
|
|
|
487,752
|
|
|||
Adjusted EBITDA
|
|
$
|
2,328,202
|
|
|
$
|
2,153,005
|
|
|
$
|
2,128,429
|
|
Adjusted interest coverage ratio
|
|
4.14x
|
|
|
4.11x
|
|
|
4.36x
|
|
|||
|
|
|
|
|
|
|
||||||
Adjusted Fixed Charge Coverage Ratio:
|
|
|
|
|
|
|
||||||
Total interest
|
|
$
|
562,186
|
|
|
$
|
523,637
|
|
|
$
|
487,752
|
|
Secured debt principal payments
|
|
54,325
|
|
|
56,288
|
|
|
64,078
|
|
|||
Preferred dividends
|
|
—
|
|
|
46,704
|
|
|
49,410
|
|
|||
Total fixed charges
|
|
616,511
|
|
|
626,629
|
|
|
601,240
|
|
|||
Adjusted EBITDA
|
|
$
|
2,328,202
|
|
|
$
|
2,153,005
|
|
|
$
|
2,128,429
|
|
Adjusted fixed charge coverage ratio
|
|
3.78x
|
|
|
3.44x
|
|
|
3.54x
|
|
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
|
|
2019
|
|
2018
|
|
2017
|
||||||
Book capitalization:
|
|
|
|
|
|
|
||||||||
Unsecured credit facility and commercial paper
|
|
$
|
1,587,597
|
|
|
$
|
1,147,000
|
|
|
$
|
719,000
|
|
||
Long-term debt obligations(1)
|
|
13,436,365
|
|
|
12,150,144
|
|
|
11,012,936
|
|
|||||
Cash and cash equivalents(2)
|
|
(284,917
|
)
|
|
(215,376
|
)
|
|
(249,620
|
)
|
|||||
Total net debt
|
|
14,739,045
|
|
|
13,081,768
|
|
|
11,482,316
|
|
|||||
Total equity and noncontrolling interests(3)
|
|
16,982,504
|
|
|
16,010,645
|
|
|
15,300,646
|
|
|||||
Book capitalization
|
|
$
|
31,721,549
|
|
|
$
|
29,092,413
|
|
|
$
|
26,782,962
|
|
||
|
|
Net debt to book capitalization ratio
|
|
46.5
|
%
|
|
45.0
|
%
|
|
42.9
|
%
|
|||
|
|
|
|
|
|
|
|
|
||||||
Undepreciated book capitalization:
|
|
|
|
|
|
|
||||||||
Total net debt
|
|
$
|
14,739,045
|
|
|
$
|
13,081,768
|
|
|
$
|
11,482,316
|
|
||
Accumulated depreciation and amortization
|
|
5,715,459
|
|
|
5,499,958
|
|
|
4,838,370
|
|
|||||
Total equity and noncontrolling interests(3)
|
|
16,982,504
|
|
|
16,010,645
|
|
|
15,300,646
|
|
|||||
Undepreciated book capitalization
|
|
$
|
37,437,008
|
|
|
$
|
34,592,371
|
|
|
$
|
31,621,332
|
|
||
|
|
Net debt to undepreciated book capitalization ratio
|
|
39.4
|
%
|
|
37.8
|
%
|
|
36.3
|
%
|
|||
|
|
|
|
|
|
|
|
|
||||||
Market capitalization:
|
|
|
|
|
|
|
||||||||
Common shares outstanding
|
|
410,257
|
|
|
383,675
|
|
|
371,732
|
|
|||||
Period end share price
|
|
$
|
81.78
|
|
|
$
|
69.41
|
|
|
$
|
63.77
|
|
||
Common equity market capitalization
|
|
$
|
33,550,817
|
|
|
$
|
26,630,882
|
|
|
$
|
23,705,350
|
|
||
Total net debt
|
|
14,739,045
|
|
|
13,081,768
|
|
|
11,482,316
|
|
|||||
Noncontrolling interests(3)
|
|
1,442,060
|
|
|
1,378,311
|
|
|
877,499
|
|
|||||
Preferred stock
|
|
—
|
|
|
718,498
|
|
|
718,503
|
|
|||||
Market capitalization:
|
|
$
|
49,731,922
|
|
|
$
|
41,809,459
|
|
|
$
|
36,783,668
|
|
||
|
|
Net debt to market capitalization ratio
|
|
29.6
|
%
|
|
31.3
|
%
|
|
31.2
|
%
|
|
|
Year Ended December 31,
|
||||||||||
NOI Reconciliation:
|
|
2019
|
|
2018
|
|
2017
|
||||||
Net income
|
|
$
|
1,330,410
|
|
|
$
|
829,750
|
|
|
$
|
540,613
|
|
Loss (gain) on real estate dispositions, net
|
|
(748,041
|
)
|
|
(415,575
|
)
|
|
(344,250
|
)
|
|||
Loss (income) from unconsolidated entities
|
|
(42,434
|
)
|
|
641
|
|
|
83,125
|
|
|||
Income tax expense (benefit)
|
|
2,957
|
|
|
8,674
|
|
|
20,128
|
|
|||
Other expenses
|
|
52,612
|
|
|
112,898
|
|
|
177,776
|
|
|||
Impairment of assets
|
|
28,133
|
|
|
115,579
|
|
|
124,483
|
|
|||
Provision for loan losses
|
|
18,690
|
|
|
—
|
|
|
62,966
|
|
|||
Loss (gain) on extinguishment of debt, net
|
|
84,155
|
|
|
16,097
|
|
|
37,241
|
|
|||
Loss (gain) on derivatives and financial instruments, net
|
|
(4,399
|
)
|
|
(4,016
|
)
|
|
2,284
|
|
|||
General and administrative expenses
|
|
126,549
|
|
|
126,383
|
|
|
122,008
|
|
|||
Depreciation and amortization
|
|
1,027,073
|
|
|
950,459
|
|
|
921,720
|
|
|||
Interest expense
|
|
555,559
|
|
|
526,592
|
|
|
484,622
|
|
|||
Consolidated net operating income (NOI)
|
|
$
|
2,431,264
|
|
|
$
|
2,267,482
|
|
|
$
|
2,232,716
|
|
|
|
|
|
|
|
|
||||||
NOI by segment:
|
|
|
|
|
|
|
||||||
Seniors Housing Operating
|
|
$
|
1,039,520
|
|
|
$
|
985,022
|
|
|
$
|
880,026
|
|
Triple-net
|
|
918,743
|
|
|
900,049
|
|
|
967,084
|
|
|||
Outpatient Medical
|
|
469,035
|
|
|
380,136
|
|
|
384,068
|
|
|||
Non-segment/corporate
|
|
3,966
|
|
|
2,275
|
|
|
1,538
|
|
|||
Total NOI
|
|
$
|
2,431,264
|
|
|
$
|
2,267,482
|
|
|
$
|
2,232,716
|
|
|
|
2018 and 2019 Same Store Pool
|
|
2017 and 2018 Same Store Pool
|
||||||||||||
SSNOI Reconciliations:
|
|
2019
|
|
2018
|
|
2018
|
|
2017
|
||||||||
NOI:
|
|
|
|
|
|
|
|
|
|
|||||||
Seniors Housing Operating
|
|
$
|
1,039,520
|
|
|
$
|
985,022
|
|
|
$
|
985,022
|
|
|
$
|
880,026
|
|
Triple-net
|
|
918,743
|
|
|
900,049
|
|
|
900,049
|
|
|
967,084
|
|
||||
Outpatient Medical
|
|
469,035
|
|
|
380,136
|
|
|
380,136
|
|
|
384,068
|
|
||||
Total
|
|
2,427,298
|
|
|
2,265,207
|
|
|
2,265,207
|
|
|
2,231,178
|
|
||||
Adjustments:
|
|
|
|
|
|
|
|
|
||||||||
Seniors Housing Operating:
|
|
|
|
|
|
|
|
|
||||||||
Non-cash SSNOI on same store properties
|
|
(1,720
|
)
|
|
(1,344
|
)
|
|
(1,176
|
)
|
|
(1,542
|
)
|
||||
NOI attributable to non same store properties
|
|
(337,933
|
)
|
|
(282,185
|
)
|
|
(167,430
|
)
|
|
(54,069
|
)
|
||||
Subtotal
|
|
(339,653
|
)
|
|
(283,529
|
)
|
|
(168,606
|
)
|
|
(55,611
|
)
|
||||
Triple-net:
|
|
|
|
|
|
|
|
|
||||||||
Non-cash SSNOI on same store properties
|
|
28,033
|
|
|
25,981
|
|
|
17,057
|
|
|
23,970
|
|
||||
NOI attributable to non same store properties
|
|
(430,436
|
)
|
|
(417,133
|
)
|
|
(401,098
|
)
|
|
(482,797
|
)
|
||||
Subtotal
|
|
(402,403
|
)
|
|
(391,152
|
)
|
|
(384,041
|
)
|
|
(458,827
|
)
|
||||
Outpatient Medical:
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Non-cash SSNOI on same store properties
|
|
7,067
|
|
|
7,224
|
|
|
9,551
|
|
|
9,576
|
|
||||
NOI attributable to non same store properties
|
|
(164,490
|
)
|
|
(79,221
|
)
|
|
(46,628
|
)
|
|
(56,654
|
)
|
||||
Subtotal
|
|
(157,423
|
)
|
|
(71,997
|
)
|
|
(37,077
|
)
|
|
(47,078
|
)
|
||||
SSNOI:
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Seniors Housing Operating
|
|
699,867
|
|
|
701,493
|
|
|
816,416
|
|
|
824,415
|
|
||||
Triple-net
|
|
516,340
|
|
|
508,897
|
|
|
516,008
|
|
|
508,257
|
|
||||
Outpatient Medical
|
|
311,612
|
|
|
308,139
|
|
|
343,059
|
|
|
336,990
|
|
||||
Total
|
|
$
|
1,527,819
|
|
|
$
|
1,518,529
|
|
|
$
|
1,675,483
|
|
|
$
|
1,669,662
|
|
|
|
2018 and 2019 Same Store Pool
|
|
2017 and 2018 Same Store Pool
|
||||||||||||||||||||
SSNOI Property Reconciliations:
|
|
Seniors Housing Operating
|
|
Triple-net
|
|
Outpatient Medical
|
|
Total
|
|
Seniors Housing Operating
|
|
Triple-net
|
|
Outpatient Medical
|
|
Total
|
||||||||
Total properties
|
|
533
|
|
|
658
|
|
|
387
|
|
|
1,578
|
|
|
501
|
|
|
726
|
|
|
281
|
|
|
1,508
|
|
Recent acquisitions/development
conversions
|
|
(77
|
)
|
|
(237
|
)
|
|
(138
|
)
|
|
(452
|
)
|
|
(26
|
)
|
|
(246
|
)
|
|
(44
|
)
|
|
(316
|
)
|
Developments
|
|
(11
|
)
|
|
(7
|
)
|
|
(4
|
)
|
|
(22
|
)
|
|
(4
|
)
|
|
(9
|
)
|
|
(4
|
)
|
|
(17
|
)
|
Held for sale
|
|
(18
|
)
|
|
(11
|
)
|
|
(42
|
)
|
|
(71
|
)
|
|
(13
|
)
|
|
(40
|
)
|
|
(2
|
)
|
|
(55
|
)
|
Segment transitions
|
|
(86
|
)
|
|
(18
|
)
|
|
—
|
|
|
(104
|
)
|
|
(68
|
)
|
|
(44
|
)
|
|
—
|
|
|
(112
|
)
|
Loans, land parcels and subleases(1)
|
|
—
|
|
|
(17
|
)
|
|
(6
|
)
|
|
(23
|
)
|
|
—
|
|
|
(21
|
)
|
|
(7
|
)
|
|
(28
|
)
|
Same store properties
|
|
341
|
|
|
368
|
|
|
197
|
|
|
906
|
|
|
390
|
|
|
366
|
|
|
224
|
|
|
980
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
(1) Includes eight land parcels, eight subleases and seven loans for the 2018 and 2019 Same Store Pool and nine land parcels, eight subleases and 11 loans for the 2017 and 2018 Same Store Pool.
|
•
|
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, 2019
|
|
December 31, 2018
|
||||||||||||
|
|
Principal balance
|
|
Change in fair value
|
|
Principal balance
|
|
Change in fair value
|
||||||||
Senior unsecured notes
|
|
$
|
9,724,691
|
|
|
$
|
(751,848
|
)
|
|
$
|
9,009,159
|
|
|
$
|
(548,558
|
)
|
Secured debt
|
|
1,814,229
|
|
|
(69,756
|
)
|
|
1,639,983
|
|
|
(59,522
|
)
|
||||
Totals
|
|
$
|
11,538,920
|
|
|
$
|
(821,604
|
)
|
|
$
|
10,649,142
|
|
|
$
|
(608,080
|
)
|
|
|
December 31, 2019
|
|
December 31, 2018
|
||||||||||||
|
|
Carrying value
|
|
Change in fair value
|
|
Carrying value
|
|
Change in fair value
|
||||||||
Foreign currency exchange contracts
|
|
$
|
26,767
|
|
|
$
|
12,136
|
|
|
$
|
23,620
|
|
|
$
|
16,163
|
|
Debt designated as hedges
|
|
1,586,116
|
|
|
15,861
|
|
|
1,559,159
|
|
|
15,592
|
|
||||
Totals
|
|
$
|
1,612,883
|
|
|
$
|
27,997
|
|
|
$
|
1,582,779
|
|
|
$
|
31,755
|
|
Description of the Matter
|
At December 31, 2019, the Company’s net real property owned was approximately $30.3 billion. As discussed in Note 2 to the consolidated financial statements, the Company reviews its real property quarterly on a property-by-property basis to determine if facts and circumstances suggest that the real property may be impaired. If the undiscounted cash flows indicate that the real property will not be recoverable, the carrying value of the real property is reduced to its estimated fair value and an impairment charge is recognized for the difference between the carrying value and the fair value.
|
How We Addressed the
|
Matter in Our Audit
|
Description of the Matter
|
During 2019, the Company completed approximately $4.0 billion of real estate acquisitions. As disclosed in Note 3 of the consolidated financial statements, the total purchase price for all properties acquired has been allocated to the related real estate acquired (tangible assets and identifiable intangible assets and liabilities) based upon their relative fair values.
|
How We Addressed the
|
Matter in Our Audit
|
|
|
December 31,
2019 |
|
December 31,
2018 |
||||
Assets
|
|
|
||||||
Real estate investments:
|
|
|
|
|
||||
Real property owned:
|
|
|
|
|
||||
Land and land improvements
|
|
$
|
3,486,620
|
|
|
$
|
3,205,091
|
|
Buildings and improvements
|
|
29,163,305
|
|
|
28,019,502
|
|
||
Acquired lease intangibles
|
|
1,617,051
|
|
|
1,581,159
|
|
||
Real property held for sale, net of accumulated depreciation
|
|
1,253,008
|
|
|
590,271
|
|
||
Construction in progress
|
|
507,931
|
|
|
194,365
|
|
||
Gross real property owned
|
|
36,027,915
|
|
|
33,590,388
|
|
||
Less accumulated depreciation and amortization
|
|
(5,715,459
|
)
|
|
(5,499,958
|
)
|
||
Net real property owned
|
|
30,312,456
|
|
|
28,090,430
|
|
||
Right of use assets, net
|
|
536,433
|
|
|
—
|
|
||
Real estate loans receivable, net of allowance
|
|
270,382
|
|
|
330,339
|
|
||
Net real estate investments
|
|
31,119,271
|
|
|
28,420,769
|
|
||
Other assets:
|
|
|
|
|
||||
Investments in unconsolidated entities
|
|
583,423
|
|
|
482,914
|
|
||
Goodwill
|
|
68,321
|
|
|
68,321
|
|
||
Cash and cash equivalents
|
|
284,917
|
|
|
215,376
|
|
||
Restricted cash
|
|
100,849
|
|
|
100,753
|
|
||
Straight-line receivable
|
|
466,222
|
|
|
367,093
|
|
||
Receivables and other assets
|
|
757,748
|
|
|
686,846
|
|
||
Total other assets
|
|
2,261,480
|
|
|
1,921,303
|
|
||
Total assets
|
|
$
|
33,380,751
|
|
|
$
|
30,342,072
|
|
|
|
|
|
|
||||
Liabilities and equity
|
|
|
|
|
||||
Liabilities:
|
|
|
|
|
||||
Unsecured credit facility and commercial paper
|
|
$
|
1,587,597
|
|
|
$
|
1,147,000
|
|
Senior unsecured notes
|
|
10,336,513
|
|
|
9,603,299
|
|
||
Secured debt
|
|
2,990,962
|
|
|
2,476,177
|
|
||
Lease liabilities
|
|
473,693
|
|
|
70,668
|
|
||
Accrued expenses and other liabilities
|
|
1,009,482
|
|
|
1,034,283
|
|
||
Total liabilities
|
|
16,398,247
|
|
|
14,331,427
|
|
||
|
|
|
|
|
||||
Redeemable noncontrolling interests
|
|
475,877
|
|
|
424,046
|
|
||
|
|
|
|
|
||||
Equity:
|
|
|
|
|
||||
Preferred stock
|
|
—
|
|
|
718,498
|
|
||
Common stock
|
|
411,005
|
|
|
384,465
|
|
||
Capital in excess of par value
|
|
20,190,107
|
|
|
18,424,368
|
|
||
Treasury stock
|
|
(78,955
|
)
|
|
(68,499
|
)
|
||
Cumulative net income
|
|
7,353,966
|
|
|
6,121,534
|
|
||
Cumulative dividends
|
|
(12,223,534
|
)
|
|
(10,818,557
|
)
|
||
Accumulated other comprehensive income (loss)
|
|
(112,157
|
)
|
|
(129,769
|
)
|
||
Other equity
|
|
12
|
|
|
294
|
|
||
Total Welltower Inc. stockholders’ equity
|
|
15,540,444
|
|
|
14,632,334
|
|
||
Noncontrolling interests
|
|
966,183
|
|
|
954,265
|
|
||
Total equity
|
|
16,506,627
|
|
|
15,586,599
|
|
||
Total liabilities and equity
|
|
$
|
33,380,751
|
|
|
$
|
30,342,072
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Revenues:
|
|
|
|
|
|
|
||||||
Resident fees and services
|
|
$
|
3,448,175
|
|
|
$
|
3,234,852
|
|
|
$
|
2,779,423
|
|
Rental income
|
|
1,588,400
|
|
|
1,380,422
|
|
|
1,445,871
|
|
|||
Interest income
|
|
63,830
|
|
|
55,814
|
|
|
73,811
|
|
|||
Other income
|
|
20,901
|
|
|
29,411
|
|
|
17,536
|
|
|||
Total revenues
|
|
5,121,306
|
|
|
4,700,499
|
|
|
4,316,641
|
|
|||
Expenses:
|
|
|
|
|
|
|
||||||
Property operating expenses
|
|
2,690,042
|
|
|
2,433,017
|
|
|
2,083,925
|
|
|||
Depreciation and amortization
|
|
1,027,073
|
|
|
950,459
|
|
|
921,720
|
|
|||
Interest expense
|
|
555,559
|
|
|
526,592
|
|
|
484,622
|
|
|||
General and administrative expenses
|
|
126,549
|
|
|
126,383
|
|
|
122,008
|
|
|||
Loss (gain) on derivatives and financial instruments, net
|
|
(4,399
|
)
|
|
(4,016
|
)
|
|
2,284
|
|
|||
Loss (gain) on extinguishment of debt, net
|
|
84,155
|
|
|
16,097
|
|
|
37,241
|
|
|||
Provision for loan losses
|
|
18,690
|
|
|
—
|
|
|
62,966
|
|
|||
Impairment of assets
|
|
28,133
|
|
|
115,579
|
|
|
124,483
|
|
|||
Other expenses
|
|
52,612
|
|
|
112,898
|
|
|
177,776
|
|
|||
Total expenses
|
|
4,578,414
|
|
|
4,277,009
|
|
|
4,017,025
|
|
|||
|
|
|
|
|
|
|
||||||
Income from continuing operations before income taxes and other items
|
|
542,892
|
|
|
423,490
|
|
|
299,616
|
|
|||
Income tax (expense) benefit
|
|
(2,957
|
)
|
|
(8,674
|
)
|
|
(20,128
|
)
|
|||
Income (loss) from unconsolidated entities
|
|
42,434
|
|
|
(641
|
)
|
|
(83,125
|
)
|
|||
Gain (loss) on real estate dispositions, net
|
|
748,041
|
|
|
415,575
|
|
|
344,250
|
|
|||
Income (loss) from continuing operations
|
|
1,330,410
|
|
|
829,750
|
|
|
540,613
|
|
|||
|
|
|
|
|
|
|
||||||
Net income
|
|
1,330,410
|
|
|
829,750
|
|
|
540,613
|
|
|||
Less: Preferred stock dividends
|
|
—
|
|
|
46,704
|
|
|
49,410
|
|
|||
Less: Preferred stock redemption charge
|
|
—
|
|
|
—
|
|
|
9,769
|
|
|||
Less: Net income (loss) attributable to noncontrolling interests(1)
|
|
97,978
|
|
|
24,796
|
|
|
17,839
|
|
|||
Net income (loss) attributable to common stockholders
|
|
$
|
1,232,432
|
|
|
$
|
758,250
|
|
|
$
|
463,595
|
|
|
|
|
|
|
|
|
||||||
Average number of common shares outstanding:
|
|
|
|
|
|
|
||||||
Basic
|
|
401,845
|
|
|
373,620
|
|
|
367,237
|
|
|||
Diluted
|
|
403,808
|
|
|
375,250
|
|
|
369,001
|
|
|||
|
|
|
|
|
|
|
||||||
Earnings per share:
|
|
|
|
|
|
|
||||||
Basic:
|
|
|
|
|
|
|
||||||
Income (loss) from continuing operations
|
|
$
|
3.31
|
|
|
$
|
2.22
|
|
|
$
|
1.47
|
|
Net income (loss) attributable to common stockholders
|
|
$
|
3.07
|
|
|
$
|
2.03
|
|
|
$
|
1.26
|
|
|
|
|
|
|
|
|
||||||
Diluted:
|
|
|
|
|
|
|
||||||
Income (loss) from continuing operations
|
|
$
|
3.29
|
|
|
$
|
2.21
|
|
|
$
|
1.47
|
|
Net income (loss) attributable to common stockholders
|
|
$
|
3.05
|
|
|
$
|
2.02
|
|
|
$
|
1.26
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Net income
|
|
$
|
1,330,410
|
|
|
$
|
829,750
|
|
|
$
|
540,613
|
|
|
|
|
|
|
|
|
||||||
Other comprehensive income (loss):
|
|
|
|
|
|
|
||||||
Reclassification adjustment for write down of equity investment
|
|
—
|
|
|
—
|
|
|
(5,120
|
)
|
|||
Unrecognized actuarial gain (loss)
|
|
540
|
|
|
344
|
|
|
269
|
|
|||
Foreign currency translation gain (loss)
|
|
161,915
|
|
|
(253,022
|
)
|
|
337,433
|
|
|||
Derivative and financial instruments designated as hedges gain (loss)
|
|
(131,120
|
)
|
|
211,390
|
|
|
(252,168
|
)
|
|||
Total other comprehensive income (loss)
|
|
31,335
|
|
|
(41,288
|
)
|
|
80,414
|
|
|||
|
|
|
|
|
|
|
||||||
Total comprehensive income (loss)
|
|
1,361,745
|
|
|
788,462
|
|
|
621,027
|
|
|||
Less: Total comprehensive income (loss) attributable to
noncontrolling interests(1)
|
|
111,701
|
|
|
1,812
|
|
|
40,187
|
|
|||
Total comprehensive income (loss) attributable to common stockholders
|
|
$
|
1,250,044
|
|
|
$
|
786,650
|
|
|
$
|
580,840
|
|
(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, 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 (loss)
|
|
|
|
|
|
|
|
|
|
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 (loss)
|
|
|
|
|
|
|
|
|
|
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
|
|
||||||||||
Comprehensive income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Net income (loss)
|
|
|
|
|
|
|
|
|
|
1,232,432
|
|
|
|
|
|
|
|
|
67,365
|
|
|
1,299,797
|
|
|||||||||||||||||
Other comprehensive income (loss)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
17,612
|
|
|
|
|
13,440
|
|
|
31,052
|
|
|||||||||||||||||
Total comprehensive income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,330,849
|
|
|||||||||||||||||||
Net change in noncontrolling interests
|
|
|
|
|
|
3,583
|
|
|
|
|
|
|
|
|
|
|
|
|
(68,887
|
)
|
|
(65,304
|
)
|
|||||||||||||||||
Amounts related to issuance of common stock
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
from dividend reinvestment and stock
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
incentive plans, net of forfeitures
|
|
|
|
162
|
|
|
25,445
|
|
|
(10,456
|
)
|
|
|
|
|
|
|
|
(282
|
)
|
|
|
|
14,869
|
|
|||||||||||||||
Net proceeds from issuance of common stock
|
|
|
|
13,666
|
|
|
1,030,925
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,044,591
|
|
|||||||||||||||||
Conversion of preferred stock
|
|
(718,498
|
)
|
|
12,712
|
|
|
705,786
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—
|
|
||||||||||||||||
Dividends paid:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Common stock dividends
|
|
|
|
|
|
|
|
|
|
|
|
(1,404,977
|
)
|
|
|
|
|
|
|
|
(1,404,977
|
)
|
||||||||||||||||||
Balances at December 31, 2019
|
|
$
|
—
|
|
|
$
|
411,005
|
|
|
$
|
20,190,107
|
|
|
$
|
(78,955
|
)
|
|
$
|
7,353,966
|
|
|
$
|
(12,223,534
|
)
|
|
$
|
(112,157
|
)
|
|
$
|
12
|
|
|
$
|
966,183
|
|
|
$
|
16,506,627
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Operating activities:
|
|
|
|
|
|
|
||||||
Net income
|
|
$
|
1,330,410
|
|
|
$
|
829,750
|
|
|
$
|
540,613
|
|
Adjustments to reconcile net income to net cash provided from (used in) operating
|
|
|
|
|
|
|
||||||
activities:
|
|
|
|
|
|
|
||||||
Depreciation and amortization
|
|
1,027,073
|
|
|
950,459
|
|
|
921,720
|
|
|||
Other amortization expenses
|
|
16,827
|
|
|
17,000
|
|
|
16,521
|
|
|||
Provision for loan losses
|
|
18,690
|
|
|
—
|
|
|
62,966
|
|
|||
Impairment of assets
|
|
28,133
|
|
|
115,579
|
|
|
124,483
|
|
|||
Stock-based compensation expense
|
|
25,047
|
|
|
27,646
|
|
|
19,102
|
|
|||
Loss (gain) on derivatives and financial instruments, net
|
|
(4,399
|
)
|
|
(4,016
|
)
|
|
2,284
|
|
|||
Loss (gain) on extinguishment of debt, net
|
|
84,155
|
|
|
16,097
|
|
|
37,241
|
|
|||
Loss (income) from unconsolidated entities
|
|
(42,434
|
)
|
|
641
|
|
|
83,125
|
|
|||
Rental income in excess of cash received
|
|
(106,331
|
)
|
|
(32,857
|
)
|
|
(80,398
|
)
|
|||
Amortization related to above (below) market leases, net
|
|
(676
|
)
|
|
2,608
|
|
|
357
|
|
|||
Loss (gain) on real estate dispositions, net
|
|
(748,041
|
)
|
|
(415,575
|
)
|
|
(344,250
|
)
|
|||
Distributions by unconsolidated entities
|
|
—
|
|
|
21
|
|
|
116
|
|
|||
Increase (decrease) in accrued expenses and other liabilities
|
|
(29,068
|
)
|
|
70,762
|
|
|
26,811
|
|
|||
Decrease (increase) in receivables and other assets
|
|
(63,418
|
)
|
|
5,829
|
|
|
23,486
|
|
|||
Net cash provided from (used in) operating activities
|
|
1,535,968
|
|
|
1,583,944
|
|
|
1,434,177
|
|
|||
|
|
|
|
|
|
|
||||||
Investing activities:
|
|
|
|
|
|
|
||||||
Cash disbursed for acquisitions, net of cash acquired
|
|
(3,959,683
|
)
|
|
(3,560,360
|
)
|
|
(805,264
|
)
|
|||
Cash disbursed for capital improvements to existing properties
|
|
(328,824
|
)
|
|
(266,183
|
)
|
|
(250,276
|
)
|
|||
Cash disbursed for construction in progress
|
|
(323,488
|
)
|
|
(160,706
|
)
|
|
(232,715
|
)
|
|||
Capitalized interest
|
|
(15,272
|
)
|
|
(7,905
|
)
|
|
(13,489
|
)
|
|||
Investment in loans receivable
|
|
(119,699
|
)
|
|
(112,048
|
)
|
|
(101,216
|
)
|
|||
Principal collected on loans receivable
|
|
127,706
|
|
|
203,935
|
|
|
214,980
|
|
|||
Other investments, net of payments
|
|
(8,282
|
)
|
|
(44,535
|
)
|
|
(44,094
|
)
|
|||
Contributions to unconsolidated entities
|
|
(279,631
|
)
|
|
(136,854
|
)
|
|
(114,365
|
)
|
|||
Distributions by unconsolidated entities
|
|
216,231
|
|
|
90,916
|
|
|
70,287
|
|
|||
Proceeds from (payments on) derivatives
|
|
(8,499
|
)
|
|
65,399
|
|
|
52,719
|
|
|||
Proceeds from sales of real property
|
|
2,650,650
|
|
|
1,541,870
|
|
|
1,378,014
|
|
|||
Net cash provided from (used in) investing activities
|
|
(2,048,791
|
)
|
|
(2,386,471
|
)
|
|
154,581
|
|
|||
|
|
|
|
|
|
|
||||||
Financing activities:
|
|
|
|
|
|
|
||||||
Net increase (decrease) under unsecured credit facility and commercial paper
|
|
440,597
|
|
|
428,000
|
|
|
74,000
|
|
|||
Proceeds from issuance of senior unsecured notes
|
|
3,974,559
|
|
|
2,824,176
|
|
|
7,500
|
|
|||
Payments to extinguish senior unsecured notes
|
|
(3,335,290
|
)
|
|
(1,450,000
|
)
|
|
(5,000
|
)
|
|||
Net proceeds from the issuance of secured debt
|
|
343,696
|
|
|
45,447
|
|
|
241,772
|
|
|||
Payments on secured debt
|
|
(284,433
|
)
|
|
(362,841
|
)
|
|
(1,144,346
|
)
|
|||
Net proceeds from the issuance of common stock
|
|
1,056,125
|
|
|
789,575
|
|
|
621,987
|
|
|||
Redemption of preferred stock
|
|
—
|
|
|
—
|
|
|
(287,500
|
)
|
|||
Payments for deferred financing costs and prepayment penalties
|
|
(84,142
|
)
|
|
(29,691
|
)
|
|
(54,333
|
)
|
|||
Contributions by noncontrolling interests(1)
|
|
55,365
|
|
|
39,207
|
|
|
56,560
|
|
|||
Distributions to noncontrolling interests(1)
|
|
(172,940
|
)
|
|
(109,871
|
)
|
|
(87,711
|
)
|
|||
Cash distributions to stockholders
|
|
(1,400,712
|
)
|
|
(1,348,863
|
)
|
|
(1,325,617
|
)
|
|||
Other financing activities
|
|
(15,675
|
)
|
|
(6,771
|
)
|
|
(10,839
|
)
|
|||
Net cash provided from (used in) financing activities
|
|
577,150
|
|
|
818,368
|
|
|
(1,913,527
|
)
|
|||
Effect of foreign currency translation on cash and cash equivalents and restricted cash
|
|
5,310
|
|
|
(9,015
|
)
|
|
26,852
|
|
|||
Increase (decrease) in cash, cash equivalents and restricted cash
|
|
69,637
|
|
|
6,826
|
|
|
(297,917
|
)
|
|||
Cash, cash equivalents and restricted cash at beginning of period
|
|
316,129
|
|
|
309,303
|
|
|
607,220
|
|
|||
Cash, cash equivalents and restricted cash at end of period
|
|
$
|
385,766
|
|
|
$
|
316,129
|
|
|
$
|
309,303
|
|
|
|
|
|
|
|
|
||||||
Supplemental cash flow information:
|
|
|
|
|
|
|
||||||
Interest paid
|
|
$
|
574,536
|
|
|
$
|
501,404
|
|
|
$
|
488,265
|
|
Income taxes paid
|
|
14,338
|
|
|
2,250
|
|
|
10,410
|
|
|
|
Year Ended December 31, 2019
|
||||||||||||||
|
|
Seniors Housing Operating
|
|
Triple-net
|
|
Outpatient Medical
|
|
Total
|
||||||||
Land and land improvements
|
|
$
|
154,470
|
|
|
$
|
24,097
|
|
|
$
|
293,933
|
|
|
$
|
472,500
|
|
Buildings and improvements
|
|
1,518,748
|
|
|
203,282
|
|
|
1,954,928
|
|
|
3,676,958
|
|
||||
Acquired lease intangibles
|
|
76,009
|
|
|
—
|
|
|
183,921
|
|
|
259,930
|
|
||||
Real property held for sale
|
|
17,435
|
|
|
—
|
|
|
—
|
|
|
17,435
|
|
||||
Construction in progress
|
|
36,174
|
|
|
—
|
|
|
—
|
|
|
36,174
|
|
||||
Right of use assets, net
|
|
—
|
|
|
—
|
|
|
58,377
|
|
|
58,377
|
|
||||
Receivables and other assets
|
|
15,634
|
|
|
—
|
|
|
1,586
|
|
|
17,220
|
|
||||
Total assets acquired(1)
|
|
1,818,470
|
|
|
227,379
|
|
|
2,492,745
|
|
|
4,538,594
|
|
||||
Secured debt
|
|
(194,408
|
)
|
|
—
|
|
|
(206,754
|
)
|
|
(401,162
|
)
|
||||
Lease liabilities
|
|
—
|
|
|
—
|
|
|
(47,740
|
)
|
|
(47,740
|
)
|
||||
Accrued expenses and other liabilities
|
|
(12,024
|
)
|
|
—
|
|
|
(32,893
|
)
|
|
(44,917
|
)
|
||||
Total liabilities assumed
|
|
(206,432
|
)
|
|
—
|
|
|
(287,387
|
)
|
|
(493,819
|
)
|
||||
Noncontrolling interests(2)
|
|
(67,987
|
)
|
|
(4,015
|
)
|
|
(1,201
|
)
|
|
(73,203
|
)
|
||||
Non-cash acquisition related activity(3)
|
(11,889
|
)
|
|
—
|
|
|
—
|
|
|
(11,889
|
)
|
|||||
Cash disbursed for acquisitions
|
|
1,532,162
|
|
|
223,364
|
|
|
2,204,157
|
|
|
3,959,683
|
|
||||
Construction in progress additions
|
|
227,018
|
|
|
61,414
|
|
|
60,884
|
|
|
349,316
|
|
||||
Capitalized interest
|
|
(8,889
|
)
|
|
(2,385
|
)
|
|
(3,998
|
)
|
|
(15,272
|
)
|
||||
Foreign currency translation
|
|
(8,643
|
)
|
|
(878
|
)
|
|
—
|
|
|
(9,521
|
)
|
||||
Accruals(4)
|
|
—
|
|
|
—
|
|
|
(1,035
|
)
|
|
(1,035
|
)
|
||||
Cash disbursed for construction in progress
|
|
209,486
|
|
|
58,151
|
|
|
55,851
|
|
|
323,488
|
|
||||
Capital improvements to existing properties
|
|
260,413
|
|
|
17,426
|
|
|
50,985
|
|
|
328,824
|
|
||||
Total cash invested in real property, net of cash acquired
|
|
$
|
2,002,061
|
|
|
$
|
298,941
|
|
|
$
|
2,310,993
|
|
|
$
|
4,611,995
|
|
|
|
Year Ended December 31, 2018
|
||||||||||||||
|
|
Seniors Housing Operating
|
|
Triple-net
|
|
Outpatient Medical
|
|
Total
|
||||||||
Land and land improvements
|
|
$
|
51,440
|
|
|
$
|
413,588
|
|
|
$
|
77,239
|
|
|
$
|
542,267
|
|
Buildings and improvements
|
|
621,731
|
|
|
2,242,884
|
|
|
478,740
|
|
|
3,343,355
|
|
||||
Acquired lease intangibles
|
|
69,504
|
|
|
9,690
|
|
|
50,813
|
|
|
130,007
|
|
||||
Real property held for sale
|
|
—
|
|
|
396,265
|
|
|
22,032
|
|
|
418,297
|
|
||||
Receivables and other assets
|
|
1,492
|
|
|
1,354
|
|
|
1,185
|
|
|
4,031
|
|
||||
Total assets acquired(1)
|
|
744,167
|
|
|
3,063,781
|
|
|
630,009
|
|
|
4,437,957
|
|
||||
Secured debt
|
|
(134,752
|
)
|
|
—
|
|
|
(169,156
|
)
|
|
(303,908
|
)
|
||||
Accrued expenses and other liabilities
|
|
(18,463
|
)
|
|
(13,199
|
)
|
|
(14,896
|
)
|
|
(46,558
|
)
|
||||
Total liabilities assumed
|
|
(153,215
|
)
|
|
(13,199
|
)
|
|
(184,052
|
)
|
|
(350,466
|
)
|
||||
Noncontrolling interests(2)
|
|
(14,390
|
)
|
|
(512,741
|
)
|
|
—
|
|
|
(527,131
|
)
|
||||
Cash disbursed for acquisitions
|
|
576,562
|
|
|
2,537,841
|
|
|
445,957
|
|
|
3,560,360
|
|
||||
Construction in progress additions
|
|
82,621
|
|
|
55,558
|
|
|
26,565
|
|
|
164,744
|
|
||||
Capitalized interest
|
|
(3,190
|
)
|
|
(2,238
|
)
|
|
(2,477
|
)
|
|
(7,905
|
)
|
||||
Foreign currency translation
|
|
3,934
|
|
|
272
|
|
|
—
|
|
|
4,206
|
|
||||
Accruals(3)
|
|
—
|
|
|
—
|
|
|
(339
|
)
|
|
(339
|
)
|
||||
Cash disbursed for construction in progress
|
|
83,365
|
|
|
53,592
|
|
|
23,749
|
|
|
160,706
|
|
||||
Capital improvements to existing properties
|
|
201,001
|
|
|
10,046
|
|
|
55,136
|
|
|
266,183
|
|
||||
Total cash invested in real property, net of cash acquired
|
|
$
|
860,928
|
|
|
$
|
2,601,479
|
|
|
$
|
524,842
|
|
|
$
|
3,987,249
|
|
|
|
Year Ended December 31, 2017
|
||||||||||||||
|
|
Seniors Housing Operating
|
|
Triple-net
|
|
Outpatient Medical
|
|
Total
|
||||||||
Land and land improvements
|
|
$
|
42,525
|
|
|
$
|
33,416
|
|
|
$
|
40,565
|
|
|
$
|
116,506
|
|
Buildings and improvements
|
|
428,777
|
|
|
248,459
|
|
|
159,643
|
|
|
836,879
|
|
||||
Acquired lease intangibles
|
|
63,912
|
|
|
—
|
|
|
24,014
|
|
|
87,926
|
|
||||
Receivables and other assets
|
|
3,959
|
|
|
—
|
|
|
10
|
|
|
3,969
|
|
||||
Total assets acquired(1)
|
|
539,173
|
|
|
281,875
|
|
|
224,232
|
|
|
1,045,280
|
|
||||
Secured debt
|
|
—
|
|
|
—
|
|
|
(25,708
|
)
|
|
(25,708
|
)
|
||||
Accrued expenses and other liabilities
|
|
(46,301
|
)
|
|
(21,236
|
)
|
|
(3,181
|
)
|
|
(70,718
|
)
|
||||
Total liabilities assumed
|
|
(46,301
|
)
|
|
(21,236
|
)
|
|
(28,889
|
)
|
|
(96,426
|
)
|
||||
Noncontrolling interests(2)
|
|
(4,701
|
)
|
|
(7,275
|
)
|
|
(9,080
|
)
|
|
(21,056
|
)
|
||||
Non-cash acquisition related activity(3)
|
|
(67,633
|
)
|
|
(54,901
|
)
|
|
—
|
|
|
(122,534
|
)
|
||||
Cash disbursed for acquisitions
|
|
420,538
|
|
|
198,463
|
|
|
186,263
|
|
|
805,264
|
|
||||
Construction in progress additions
|
|
84,874
|
|
|
120,797
|
|
|
37,094
|
|
|
242,765
|
|
||||
Capitalized interest
|
|
(9,106
|
)
|
|
(4,713
|
)
|
|
(2,406
|
)
|
|
(16,225
|
)
|
||||
Foreign currency translation
|
|
(6,830
|
)
|
|
(610
|
)
|
|
—
|
|
|
(7,440
|
)
|
||||
Accruals(4)
|
|
—
|
|
|
—
|
|
|
13,615
|
|
|
13,615
|
|
||||
Cash disbursed for construction in progress
|
|
68,938
|
|
|
115,474
|
|
|
48,303
|
|
|
232,715
|
|
||||
Capital improvements to existing properties
|
|
185,473
|
|
|
19,989
|
|
|
44,814
|
|
|
250,276
|
|
||||
Total cash invested in real property, net of cash acquired
|
|
$
|
674,949
|
|
|
$
|
333,926
|
|
|
$
|
279,380
|
|
|
$
|
1,288,255
|
|
(In thousands)
|
|
|
||
Land and land improvements
|
|
$
|
417,983
|
|
Buildings and improvements
|
|
2,253,451
|
|
|
Acquired lease intangibles
|
|
12,820
|
|
|
Real property held for sale
|
|
418,297
|
|
|
Cash and cash equivalents
|
|
381,913
|
|
|
Restricted cash
|
|
4,981
|
|
|
Receivables and other assets
|
|
1,354
|
|
|
Total assets acquired
|
|
3,490,799
|
|
|
Accrued expenses and other liabilities
|
|
(13,199
|
)
|
|
Total liabilities assumed
|
|
(13,199
|
)
|
|
Noncontrolling interests
|
|
(512,741
|
)
|
|
Net assets acquired
|
|
$
|
2,964,859
|
|
|
|
Year Ended
|
||||||||||
|
|
December 31, 2019
|
|
December 31, 2018
|
|
December 31, 2017
|
||||||
Development projects:
|
|
|
|
|
|
|
||||||
Seniors Housing Operating
|
|
$
|
28,117
|
|
|
$
|
86,931
|
|
|
$
|
3,634
|
|
Triple-net
|
|
—
|
|
|
90,055
|
|
|
283,472
|
|
|||
Outpatient Medical
|
|
21,006
|
|
|
11,358
|
|
|
63,036
|
|
|||
Total development projects
|
|
49,123
|
|
|
188,344
|
|
|
350,142
|
|
|||
Expansion projects
|
|
—
|
|
|
20,029
|
|
|
10,336
|
|
|||
Total construction in progress conversions
|
|
$
|
49,123
|
|
|
$
|
208,373
|
|
|
$
|
360,478
|
|
|
|
December 31, 2019
|
|
December 31, 2018
|
||||
Assets:
|
|
|
|
|
||||
In place lease intangibles
|
|
$
|
1,513,836
|
|
|
$
|
1,410,725
|
|
Above market tenant leases
|
|
59,540
|
|
|
63,935
|
|
||
Below market ground leases(1)
|
|
—
|
|
|
64,513
|
|
||
Lease commissions
|
|
43,675
|
|
|
41,986
|
|
||
Gross historical cost
|
|
1,617,051
|
|
|
1,581,159
|
|
||
Accumulated amortization
|
|
(1,181,158
|
)
|
|
(1,197,336
|
)
|
||
Net book value
|
|
$
|
435,893
|
|
|
$
|
383,823
|
|
|
|
|
|
|
||||
Weighted-average amortization period in years
|
|
10.3
|
|
|
16.0
|
|
||
|
|
|
|
|
||||
Liabilities:
|
|
|
|
|
||||
Below market tenant leases
|
|
$
|
99,035
|
|
|
$
|
81,676
|
|
Above market ground leases(1)
|
|
—
|
|
|
8,540
|
|
||
Gross historical cost
|
|
99,035
|
|
|
90,216
|
|
||
Accumulated amortization
|
|
(49,390
|
)
|
|
(44,266
|
)
|
||
Net book value
|
|
$
|
49,645
|
|
|
$
|
45,950
|
|
|
|
|
|
|
||||
Weighted-average amortization period in years
|
|
8.6
|
|
|
14.7
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Rental income related to (above)/below market tenant leases, net
|
|
$
|
508
|
|
|
$
|
(1,269
|
)
|
|
$
|
875
|
|
Depreciation and amortization related to in place lease intangibles and lease commissions
|
|
(135,047
|
)
|
|
(122,515
|
)
|
|
(145,132
|
)
|
|
|
Assets
|
|
Liabilities
|
||||
2020
|
|
$
|
119,973
|
|
|
$
|
9,498
|
|
2021
|
|
59,824
|
|
|
8,529
|
|
||
2022
|
|
40,802
|
|
|
7,758
|
|
||
2023
|
|
34,803
|
|
|
5,483
|
|
||
2024
|
|
27,415
|
|
|
3,362
|
|
||
Thereafter
|
|
153,076
|
|
|
15,015
|
|
||
Totals
|
|
$
|
435,893
|
|
|
$
|
49,645
|
|
|
|
Year Ended
|
||||||||||
|
|
December 31, 2019
|
|
December 31, 2018
|
|
December 31, 2017
|
||||||
Real property dispositions:
|
|
|
|
|
|
|
||||||
Seniors Housing Operating
|
|
$
|
1,232,816
|
|
|
$
|
36,627
|
|
|
$
|
74,832
|
|
Triple-net
|
|
667,632
|
|
|
835,093
|
|
|
916,689
|
|
|||
Outpatient Medical
|
|
482
|
|
|
253,397
|
|
|
19,697
|
|
|||
Total dispositions
|
|
1,900,930
|
|
|
1,125,117
|
|
|
1,011,218
|
|
|||
Gain (loss) on sales of real property, net
|
|
748,041
|
|
|
415,575
|
|
|
344,250
|
|
|||
Net other assets (liabilities) disposed
|
|
1,679
|
|
|
1,178
|
|
|
22,546
|
|
|||
Proceeds from real property sales
|
|
$
|
2,650,650
|
|
|
$
|
1,541,870
|
|
|
$
|
1,378,014
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Revenues:
|
|
|
|
|
|
|
||||||
Total revenues
|
|
$
|
449,080
|
|
|
$
|
665,384
|
|
|
$
|
769,835
|
|
Expenses:
|
|
|
|
|
|
|
||||||
Interest expense
|
|
4,924
|
|
|
6,617
|
|
|
12,458
|
|
|||
Property operating expenses
|
|
257,510
|
|
|
383,907
|
|
|
374,370
|
|
|||
Provision for depreciation
|
|
65,698
|
|
|
109,674
|
|
|
153,009
|
|
|||
Total expenses
|
|
328,132
|
|
|
500,198
|
|
|
539,837
|
|
|||
Income (loss) from real estate dispositions, net
|
|
$
|
120,948
|
|
|
$
|
165,186
|
|
|
$
|
229,998
|
|
|
|
Classification
|
|
Year Ended December 31, 2019
|
||
Operating lease cost: (1)
|
|
|
|
|
||
Real estate lease expense
|
|
Property operating expenses
|
|
$
|
25,166
|
|
Non-real estate investment lease expense
|
|
General and administrative expenses
|
|
1,654
|
|
|
Finance lease cost:
|
|
|
|
|
||
Amortization of leased assets
|
|
Property operating expenses
|
|
7,795
|
|
|
Interest on lease liabilities
|
|
Interest expense
|
|
4,748
|
|
|
Sublease income
|
|
Rental income
|
|
(4,173
|
)
|
|
Total
|
|
|
|
$
|
35,190
|
|
|
|
Operating Leases
|
|
Finance Leases
|
||||
2020
|
|
$
|
23,356
|
|
|
$
|
9,121
|
|
2021
|
|
23,322
|
|
|
8,786
|
|
||
2022
|
|
22,147
|
|
|
8,149
|
|
||
2023
|
|
22,117
|
|
|
69,182
|
|
||
2024
|
|
21,294
|
|
|
1,419
|
|
||
Thereafter
|
|
1,073,396
|
|
|
89,678
|
|
||
Total lease payments
|
|
1,185,632
|
|
|
186,335
|
|
||
Less: Imputed interest
|
|
(820,829
|
)
|
|
(77,445
|
)
|
||
Total present value of lease liabilities
|
|
$
|
364,803
|
|
|
$
|
108,890
|
|
|
Classification
|
|
December 31, 2019
|
||
Right of use assets:
|
|
|
|
||
Operating leases - real estate
|
Right of use assets, net
|
|
$
|
374,217
|
|
Finance leases - real estate
|
Right of use assets, net
|
|
162,216
|
|
|
Real estate right of use assets, net
|
|
|
536,433
|
|
|
Operating leases - non-real estate investments
|
Receivables and other assets
|
|
12,474
|
|
|
Total right of use assets, net
|
|
|
$
|
548,907
|
|
|
|
|
|
||
Lease liabilities:
|
|
|
|
||
Operating leases
|
|
|
$
|
364,803
|
|
Financing leases
|
|
|
108,890
|
|
|
Total lease liabilities
|
|
|
$
|
473,693
|
|
|
|
|
|
||
Weighted average remaining lease term (years):
|
|
|
|
||
Operating leases
|
|
|
46.0
|
|
|
Finance leases
|
|
|
15.9
|
|
|
|
|
|
|
||
Weighted average discount rate:
|
|
|
|
||
Operating leases
|
|
|
5.00
|
%
|
|
Finance leases
|
|
|
5.18
|
%
|
2020
|
|
$
|
1,430,978
|
|
2021
|
|
1,384,721
|
|
|
2022
|
|
1,346,917
|
|
|
2023
|
|
1,302,601
|
|
|
2024
|
|
1,265,988
|
|
|
Thereafter
|
|
9,026,163
|
|
|
Totals
|
|
$
|
15,757,368
|
|
|
|
Year Ended December 31,
|
||||||
|
|
2019
|
|
2018
|
||||
Mortgage loans
|
|
$
|
188,062
|
|
|
$
|
317,443
|
|
Other real estate loans
|
|
124,696
|
|
|
81,268
|
|
||
Allowance for losses on real estate loans receivable
|
|
(42,376
|
)
|
|
(68,372
|
)
|
||
Real estate loans receivable, net of allowance
|
|
270,382
|
|
|
330,339
|
|
||
Non real estate loans
|
|
362,850
|
|
|
282,443
|
|
||
Allowance for losses on non real estate loans receivable
|
|
(25,996
|
)
|
|
—
|
|
||
Non real estate loans receivable, net of allowance(1)
|
|
336,854
|
|
|
282,443
|
|
||
Total loans receivable, net of allowance
|
|
$
|
607,236
|
|
|
$
|
612,782
|
|
|
|
Year Ended
|
||||||||||
|
|
December 31, 2019
|
|
December 31, 2018
|
|
December 31, 2017
|
||||||
Advances on loans receivable:
|
|
|
|
|
|
|
||||||
Investments in new loans
|
|
$
|
46,824
|
|
|
$
|
77,289
|
|
|
$
|
61,122
|
|
Draws on existing loans
|
|
72,875
|
|
|
34,759
|
|
|
40,094
|
|
|||
Net cash advances on loans receivable
|
|
119,699
|
|
|
112,048
|
|
|
101,216
|
|
|||
Receipts on loans receivable:
|
|
|
|
|
|
|
||||||
Loan payoffs
|
|
118,703
|
|
|
144,700
|
|
|
181,549
|
|
|||
Principal payments on loans
|
|
9,003
|
|
|
59,235
|
|
|
33,431
|
|
|||
Net cash receipts on loans
|
|
127,706
|
|
|
203,935
|
|
|
214,980
|
|
|||
Net cash advances (receipts) on loans
|
|
$
|
(8,007
|
)
|
|
$
|
(91,887
|
)
|
|
$
|
(113,764
|
)
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Balance at beginning of year
|
|
$
|
68,372
|
|
|
$
|
68,372
|
|
|
$
|
6,563
|
|
Provision for loan losses
|
|
18,690
|
|
|
—
|
|
|
62,966
|
|
|||
Charge-offs
|
|
(18,690
|
)
|
|
—
|
|
|
—
|
|
|||
Change in present value
|
|
—
|
|
|
—
|
|
|
(1,157
|
)
|
|||
Balance at end of year
|
|
$
|
68,372
|
|
|
$
|
68,372
|
|
|
$
|
68,372
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Balance of impaired loans at end of year
|
|
$
|
188,018
|
|
|
$
|
189,272
|
|
|
$
|
282,882
|
|
Allowance for loan losses
|
|
(68,372
|
)
|
|
(68,372
|
)
|
|
(68,372
|
)
|
|||
Balance of impaired loans not reserved
|
|
$
|
119,646
|
|
|
$
|
120,900
|
|
|
$
|
214,510
|
|
Average impaired loans for the year
|
|
$
|
192,728
|
|
|
$
|
236,077
|
|
|
$
|
330,216
|
|
Interest recognized on impaired loans(1)
|
|
16,235
|
|
|
17,241
|
|
|
27,793
|
|
|
|
Percentage Ownership(1)
|
|
December 31, 2019
|
|
December 31, 2018
|
||||
Seniors Housing Operating
|
|
10% to 50%
|
|
$
|
463,741
|
|
|
$
|
344,982
|
|
Triple-net
|
|
10% to 34%
|
|
7,740
|
|
|
34,284
|
|
||
Outpatient Medical
|
|
43% to 50%
|
|
111,942
|
|
|
103,648
|
|
||
Total
|
|
|
|
$
|
583,423
|
|
|
$
|
482,914
|
|
|
|
Number of
|
|
Total
|
|
Percent of
|
|||
Concentration by relationship:(1)
|
|
Properties
|
|
NOI
|
|
NOI(2)
|
|||
Sunrise Senior Living(3)
|
|
165
|
|
|
$
|
342,595
|
|
|
14%
|
ProMedica
|
|
218
|
|
|
215,083
|
|
|
9%
|
|
Revera(3)
|
|
94
|
|
|
146,451
|
|
|
6%
|
|
Genesis HealthCare
|
|
54
|
|
|
119,928
|
|
|
5%
|
|
Belmont Village
|
|
21
|
|
|
76,354
|
|
|
3%
|
|
Remaining portfolio
|
|
1,026
|
|
|
1,530,853
|
|
|
63%
|
|
Totals
|
|
1,578
|
|
|
$
|
2,431,264
|
|
|
100%
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Balance outstanding at year end
|
|
$
|
1,588,600
|
|
|
$
|
1,147,000
|
|
|
$
|
719,000
|
|
Maximum amount outstanding at any month end
|
|
$
|
2,880,000
|
|
|
$
|
2,148,000
|
|
|
$
|
1,010,000
|
|
Average amount outstanding (total of daily principal balances
|
|
|
|
|
|
|
||||||
divided by days in period)
|
|
$
|
1,376,813
|
|
|
$
|
950,581
|
|
|
$
|
597,422
|
|
Weighted-average interest rate (actual interest expense divided
|
|
|
|
|
|
|
||||||
by average borrowings outstanding)
|
|
2.84
|
%
|
|
3.07
|
%
|
|
2.02
|
%
|
|
|
Senior
Unsecured Notes(1,2)
|
|
Secured
Debt (1,3)
|
|
Totals
|
||||||
2020
|
|
$
|
—
|
|
|
$
|
354,329
|
|
|
$
|
354,329
|
|
2021
|
|
—
|
|
|
439,176
|
|
|
439,176
|
|
|||
2022
|
|
10,000
|
|
|
421,876
|
|
|
431,876
|
|
|||
2023(4,5)
|
|
1,792,871
|
|
|
467,378
|
|
|
2,260,249
|
|
|||
2024
|
|
1,350,000
|
|
|
304,533
|
|
|
1,654,533
|
|
|||
Thereafter(6,7,8)
|
|
7,274,691
|
|
|
1,006,050
|
|
|
8,280,741
|
|
|||
Totals
|
|
$
|
10,427,562
|
|
|
$
|
2,993,342
|
|
|
$
|
13,420,904
|
|
|
|
Year Ended
|
||||||||||||||||
|
|
December 31, 2019
|
|
December 31, 2018
|
|
December 31, 2017
|
||||||||||||
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
||||||
|
|
Amount
|
|
Interest Rate
|
|
Amount
|
|
Interest Rate
|
|
Amount
|
|
Interest Rate
|
||||||
Beginning balance
|
|
$
|
9,699,984
|
|
|
4.48%
|
|
$
|
8,417,447
|
|
|
4.31%
|
|
$
|
8,260,038
|
|
|
4.25%
|
Debt issued
|
|
3,987,790
|
|
|
3.34%
|
|
2,850,000
|
|
|
4.57%
|
|
7,500
|
|
|
1.97%
|
|||
Debt extinguished
|
|
(3,335,290
|
)
|
|
4.39%
|
|
(1,450,000
|
)
|
|
3.46%
|
|
(5,000
|
)
|
|
1.83%
|
|||
Foreign currency
|
|
75,078
|
|
|
4.22%
|
|
(117,463
|
)
|
|
4.16%
|
|
154,909
|
|
|
4.29%
|
|||
Ending balance
|
|
$
|
10,427,562
|
|
|
4.03%
|
|
$
|
9,699,984
|
|
|
4.48%
|
|
$
|
8,417,447
|
|
|
4.31%
|
|
|
Year Ended
|
||||||||||||||||
|
|
December 31, 2019
|
|
December 31, 2018
|
|
December 31, 2017
|
||||||||||||
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
||||||
|
|
Amount
|
|
Interest Rate
|
|
Amount
|
|
Interest Rate
|
|
Amount
|
|
Interest Rate
|
||||||
Beginning balance
|
|
$
|
2,485,711
|
|
|
3.90%
|
|
$
|
2,618,408
|
|
|
3.76%
|
|
$
|
3,465,066
|
|
|
4.09%
|
Debt issued
|
|
343,696
|
|
|
3.11%
|
|
45,447
|
|
|
3.40%
|
|
241,772
|
|
|
2.82%
|
|||
Debt assumed
|
|
385,145
|
|
|
4.34%
|
|
292,887
|
|
|
4.64%
|
|
23,094
|
|
|
6.67%
|
|||
Debt extinguished
|
|
(230,108
|
)
|
|
4.35%
|
|
(306,553
|
)
|
|
5.36%
|
|
(1,080,268
|
)
|
|
5.25%
|
|||
Debt deconsolidated
|
|
—
|
|
|
—%
|
|
—
|
|
|
—%
|
|
(60,000
|
)
|
|
3.80%
|
|||
Principal payments
|
|
(54,325
|
)
|
|
3.75%
|
|
(56,288
|
)
|
|
3.91%
|
|
(64,078
|
)
|
|
4.34%
|
|||
Foreign currency
|
|
63,223
|
|
|
3.28%
|
|
(108,190
|
)
|
|
3.33%
|
|
92,822
|
|
|
3.16%
|
|||
Ending balance
|
|
$
|
2,993,342
|
|
|
3.63%
|
|
$
|
2,485,711
|
|
|
3.90%
|
|
$
|
2,618,408
|
|
|
3.76%
|
|
|
December 31, 2019
|
|
December 31, 2018
|
||||
Derivatives designated as net investment hedges:
|
|
|
|
|
||||
Denominated in Canadian Dollars
|
|
$
|
725,000
|
|
|
$
|
575,000
|
|
Denominated in Pounds Sterling
|
|
£
|
1,340,708
|
|
|
£
|
890,708
|
|
|
|
|
|
|
||||
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
|
|
|
|
|
|
|
||||
Interest rate swaps designated as cash flow hedges:
|
|
|
|
|
||||
Denominated in U.S. Dollars(1)
|
|
$
|
1,188,250
|
|
|
$
|
—
|
|
|
|
|
|
|
||||
Derivative instruments not designated:
|
|
|
|
|
||||
Interest rate caps denominated in U.S. Dollars
|
|
$
|
405,819
|
|
|
$
|
405,819
|
|
Forward purchase contracts denominated in Canadian Dollars
|
|
$
|
—
|
|
|
$
|
(325,000
|
)
|
Forward sales contracts denominated in Canadian Dollars
|
|
$
|
—
|
|
|
$
|
405,000
|
|
Forward purchase contracts denominated in Pounds Sterling
|
|
£
|
(125,000
|
)
|
|
£
|
(350,000
|
)
|
Forward sales contracts denominated in Pounds Sterling
|
|
£
|
125,000
|
|
|
£
|
350,000
|
|
|
|
|
|
Year Ended
|
||||||||||
|
|
Location
|
|
December 31, 2019
|
|
December 31, 2018
|
|
December 31, 2017
|
||||||
Gain (loss) on derivative instruments designated as hedges recognized in income
|
|
Interest expense
|
|
$
|
26,419
|
|
|
$
|
12,271
|
|
|
$
|
(2,476
|
)
|
Gain (loss) on derivative instruments not designated as hedges recognized in income
|
|
Interest expense
|
|
$
|
(2,310
|
)
|
|
$
|
5,233
|
|
|
$
|
(49
|
)
|
Gain (loss) on derivative and financial instruments designated as hedges recognized in OCI
|
|
OCI
|
|
$
|
(131,120
|
)
|
|
$
|
211,390
|
|
|
$
|
(252,168
|
)
|
|
|
December 31, 2019
|
|
December 31, 2018
|
||
Preferred Stock, $1.00 par value:
|
|
|
|
|
||
Authorized shares
|
|
50,000,000
|
|
|
50,000,000
|
|
Issued shares
|
|
—
|
|
|
14,375,000
|
|
Outstanding shares
|
|
—
|
|
|
14,369,965
|
|
Common Stock, $1.00 par value:
|
|
|
|
|
||
Authorized shares
|
|
700,000,000
|
|
|
700,000,000
|
|
Issued shares
|
|
411,550,857
|
|
|
384,849,236
|
|
Outstanding shares
|
|
410,256,615
|
|
|
383,674,603
|
|
|
|
Year Ended
|
|||||||||||||
|
|
December 31, 2019
|
|
December 31, 2018
|
|
December 31, 2017
|
|||||||||
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
|
|
|
Weighted Avg.
|
|||
|
|
Shares
|
|
Dividend Rate
|
|
Shares
|
|
Dividend Rate
|
|
Shares
|
|
Dividend Rate
|
|||
Beginning balance
|
|
14,369,965
|
|
|
6.50%
|
|
14,370,060
|
|
|
6.50%
|
|
25,875,000
|
|
|
6.50%
|
Shares redeemed
|
|
—
|
|
|
—%
|
|
—
|
|
|
—%
|
|
(11,500,000
|
)
|
|
6.50%
|
Shares converted
|
|
(14,369,965
|
)
|
|
6.50%
|
|
(95
|
)
|
|
6.50%
|
|
(4,940
|
)
|
|
6.50%
|
Ending balance
|
|
—
|
|
|
—%
|
|
14,369,965
|
|
|
6.50%
|
|
14,370,060
|
|
|
6.50%
|
|
|
Shares Issued
|
|
Average Price
|
|
Gross Proceeds
|
|
Net Proceeds
|
|||||||
|
|
|
|
|
|
|
|
|
|||||||
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
|
|
||
|
|
|
|
|
|
|
|
|
|||||||
2019 Dividend reinvestment plan issuances
|
|
5,798,979
|
|
$
|
77.18
|
|
|
$
|
447,559
|
|
|
$
|
443,929
|
|
|
2019 Option exercises
|
|
10,736
|
|
51.32
|
|
551
|
|
|
551
|
|
|||||
2019 Equity Shelf Program issuances
|
|
7,855,956
|
|
78.15
|
|
613,948
|
|
|
611,645
|
|
|||||
2019 Preferred stock conversions
|
|
12,712,452
|
|
|
|
—
|
|
|
—
|
|
|||||
2019 Stock incentive plans, net of forfeitures
|
|
203,889
|
|
|
|
—
|
|
|
—
|
|
|||||
2019 Totals
|
|
26,582,012
|
|
|
|
|
$
|
1,062,058
|
|
|
$
|
1,056,125
|
|
|
|
Year Ended
|
||||||||||||||||||||||
|
|
December 31, 2019
|
|
December 31, 2018
|
|
December 31, 2017
|
||||||||||||||||||
|
|
Per Share
|
|
Amount
|
|
Per Share
|
|
Amount
|
|
Per Share
|
|
Amount
|
||||||||||||
Common Stock
|
|
$
|
3.4800
|
|
|
$
|
1,404,977
|
|
|
$
|
3.4800
|
|
|
$
|
1,300,141
|
|
|
$
|
3.4800
|
|
|
$
|
1,277,321
|
|
Series I Preferred Stock
|
|
—
|
|
|
—
|
|
|
3.2500
|
|
|
46,704
|
|
|
3.2500
|
|
|
46,711
|
|
||||||
Series J Preferred Stock
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
0.2347
|
|
|
2,699
|
|
||||||
Totals
|
|
|
|
$
|
1,404,977
|
|
|
|
|
$
|
1,346,845
|
|
|
|
|
$
|
1,326,731
|
|
|
|
December 31, 2019
|
|
December 31, 2018
|
||||
Foreign currency translation
|
|
$
|
(719,814
|
)
|
|
$
|
(868,006
|
)
|
Derivative and financial instruments designated as hedges
|
|
607,657
|
|
|
738,777
|
|
||
Actuarial losses
|
|
—
|
|
|
(540
|
)
|
||
Total accumulated other comprehensive loss
|
|
$
|
(112,157
|
)
|
|
$
|
(129,769
|
)
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Stock options
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
10
|
|
Restricted stock
|
|
25,047
|
|
|
27,646
|
|
|
19,092
|
|
|||
|
|
$
|
25,047
|
|
|
$
|
27,646
|
|
|
$
|
19,102
|
|
|
|
Restricted Stock
|
|||||
|
|
Number of Shares (000's)
|
|
Weighted-Average
Grant Date Fair Value
|
|||
Non-vested at December 31, 2018
|
|
1,220
|
|
|
$
|
62.56
|
|
Vested
|
|
(364
|
)
|
|
52.15
|
|
|
Granted
|
|
367
|
|
|
85.80
|
|
|
Terminated
|
|
(117
|
)
|
|
66.25
|
|
|
Non-vested at December 31, 2019
|
|
1,106
|
|
|
$
|
70.26
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Numerator for basic and diluted earnings per share -
|
|
|
|
|
|
|
||||||
net income attributable to common stockholders
|
|
$
|
1,232,432
|
|
|
$
|
758,250
|
|
|
$
|
463,595
|
|
|
|
|
|
|
|
|
||||||
Denominator for basic earnings per share - weighted average shares
|
|
401,845
|
|
|
373,620
|
|
|
367,237
|
|
|||
Effect of dilutive securities:
|
|
|
|
|
|
|
||||||
Employee stock options
|
|
—
|
|
|
9
|
|
|
47
|
|
|||
Non-vested restricted shares
|
|
835
|
|
|
512
|
|
|
482
|
|
|||
Redeemable shares
|
|
1,112
|
|
|
1,096
|
|
|
1,235
|
|
|||
Employee stock purchase program
|
|
16
|
|
|
13
|
|
|
—
|
|
|||
Dilutive potential common shares
|
|
1,963
|
|
|
1,630
|
|
|
1,764
|
|
|||
Denominator for diluted earnings per share - adjusted weighted average shares
|
|
403,808
|
|
|
375,250
|
|
|
369,001
|
|
|||
|
|
|
|
|
|
|
||||||
Basic earnings per share
|
|
$
|
3.07
|
|
|
$
|
2.03
|
|
|
$
|
1.26
|
|
Diluted earnings per share
|
|
$
|
3.05
|
|
|
$
|
2.02
|
|
|
$
|
1.26
|
|
•
|
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, 2019
|
|
December 31, 2018
|
||||||||||||
|
|
Carrying
|
|
Fair
|
|
Carrying
|
|
Fair
|
||||||||
|
|
Amount
|
|
Value
|
|
Amount
|
|
Value
|
||||||||
Financial assets:
|
|
|
|
|
|
|
|
|
||||||||
Mortgage loans receivable
|
|
$
|
145,686
|
|
|
$
|
150,217
|
|
|
$
|
249,071
|
|
|
$
|
257,337
|
|
Other real estate loans receivable
|
|
124,696
|
|
|
128,512
|
|
|
81,268
|
|
|
82,742
|
|
||||
Equity securities
|
|
15,685
|
|
|
15,685
|
|
|
11,286
|
|
|
11,286
|
|
||||
Cash and cash equivalents
|
|
284,917
|
|
|
284,917
|
|
|
215,376
|
|
|
215,376
|
|
||||
Restricted cash
|
|
100,849
|
|
|
100,849
|
|
|
100,753
|
|
|
100,753
|
|
||||
Non real estate loans receivable
|
|
336,854
|
|
|
379,239
|
|
|
282,443
|
|
|
384,150
|
|
||||
Foreign currency forward contracts, interest rate swaps and cross currency swaps
|
|
18,554
|
|
|
18,554
|
|
|
94,729
|
|
|
94,729
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Financial liabilities:
|
|
|
|
|
|
|
|
|
||||||||
Borrowings under unsecured credit facility and commercial paper
|
|
$
|
1,587,597
|
|
|
$
|
1,587,597
|
|
|
$
|
1,147,000
|
|
|
$
|
1,147,000
|
|
Senior unsecured notes
|
|
10,336,513
|
|
|
11,400,571
|
|
|
9,603,299
|
|
|
10,043,797
|
|
||||
Secured debt
|
|
2,990,962
|
|
|
3,041,893
|
|
|
2,476,177
|
|
|
2,499,130
|
|
||||
Foreign currency forward contracts, interest rate swaps and cross currency swaps
|
|
53,601
|
|
|
53,601
|
|
|
71,109
|
|
|
71,109
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Redeemable OP unitholder interests
|
|
$
|
121,440
|
|
|
$
|
121,440
|
|
|
$
|
103,071
|
|
|
$
|
103,071
|
|
|
|
Fair Value Measurements as of December 31, 2019
|
||||||||||||||
|
|
Total
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||
Equity securities
|
|
$
|
15,685
|
|
|
$
|
15,685
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Foreign currency forward contracts, interest rate swaps and cross currency swaps, net asset (liability)(1)
|
|
(35,047
|
)
|
|
—
|
|
|
(35,047
|
)
|
|
—
|
|
||||
Redeemable OP unitholder interests
|
|
121,440
|
|
|
—
|
|
|
121,440
|
|
|
—
|
|
||||
Totals
|
|
$
|
102,078
|
|
|
$
|
15,685
|
|
|
$
|
86,393
|
|
|
$
|
—
|
|
Year Ended December 31, 2019:
|
|
Seniors Housing Operating
|
|
Triple-net
|
|
Outpatient Medical
|
|
Non-segment / Corporate
|
|
Total
|
||||||||||
Resident fees and services
|
|
$
|
3,448,175
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
3,448,175
|
|
Rental income
|
|
—
|
|
|
903,798
|
|
|
684,602
|
|
|
—
|
|
|
1,588,400
|
|
|||||
Interest income
|
|
36
|
|
|
62,599
|
|
|
1,195
|
|
|
—
|
|
|
63,830
|
|
|||||
Other income
|
|
8,658
|
|
|
6,246
|
|
|
2,031
|
|
|
3,966
|
|
|
20,901
|
|
|||||
Total revenues
|
|
3,456,869
|
|
|
972,643
|
|
|
687,828
|
|
|
3,966
|
|
|
5,121,306
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Property operating expenses
|
|
2,417,349
|
|
|
53,900
|
|
|
218,793
|
|
|
—
|
|
|
2,690,042
|
|
|||||
Consolidated net operating income
|
|
1,039,520
|
|
|
918,743
|
|
|
469,035
|
|
|
3,966
|
|
|
2,431,264
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Depreciation and amortization
|
|
553,189
|
|
|
232,626
|
|
|
241,258
|
|
|
—
|
|
|
1,027,073
|
|
|||||
Interest expense
|
|
67,983
|
|
|
12,892
|
|
|
13,411
|
|
|
461,273
|
|
|
555,559
|
|
|||||
General and administrative expenses
|
|
—
|
|
|
—
|
|
|
—
|
|
|
126,549
|
|
|
126,549
|
|
|||||
Loss (gain) on derivatives and financial instruments, net
|
|
—
|
|
|
(4,399
|
)
|
|
—
|
|
|
—
|
|
|
(4,399
|
)
|
|||||
Loss (gain) on extinguishment of debt, net
|
|
1,614
|
|
|
—
|
|
|
—
|
|
|
82,541
|
|
|
84,155
|
|
|||||
Provision for loan losses
|
|
—
|
|
|
18,690
|
|
|
—
|
|
|
—
|
|
|
18,690
|
|
|||||
Impairment of assets
|
|
2,145
|
|
|
11,926
|
|
|
14,062
|
|
|
—
|
|
|
28,133
|
|
|||||
Other expenses
|
|
26,348
|
|
|
13,771
|
|
|
1,788
|
|
|
10,705
|
|
|
52,612
|
|
|||||
Income (loss) from continuing operations before income taxes and other items
|
|
388,241
|
|
|
633,237
|
|
|
198,516
|
|
|
(677,102
|
)
|
|
542,892
|
|
|||||
Income tax (expense) benefit
|
|
6,246
|
|
|
(4,209
|
)
|
|
(2,710
|
)
|
|
(2,284
|
)
|
|
(2,957
|
)
|
|||||
(Loss) income from unconsolidated entities
|
|
12,388
|
|
|
22,985
|
|
|
7,061
|
|
|
—
|
|
|
42,434
|
|
|||||
Gain (loss) on real estate dispositions, net
|
|
528,747
|
|
|
218,322
|
|
|
972
|
|
|
—
|
|
|
748,041
|
|
|||||
Income (loss) from continuing operations
|
|
935,622
|
|
|
870,335
|
|
|
203,839
|
|
|
(679,386
|
)
|
|
1,330,410
|
|
|||||
Net income (loss)
|
|
$
|
935,622
|
|
|
$
|
870,335
|
|
|
$
|
203,839
|
|
|
$
|
(679,386
|
)
|
|
$
|
1,330,410
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Total assets
|
|
$
|
15,784,898
|
|
|
$
|
9,434,817
|
|
|
$
|
7,991,521
|
|
|
$
|
169,515
|
|
|
$
|
33,380,751
|
|
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 expenses
|
|
—
|
|
|
—
|
|
|
—
|
|
|
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 (expense) benefit
|
|
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 (expense) benefit
|
|
(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
|
|
|
|
Year Ended
|
|||||||||||||||||||
|
|
December 31, 2019
|
|
December 31, 2018
|
|
December 31, 2017
|
|||||||||||||||
Revenues:
|
|
Amount(1)
|
|
%
|
|
Amount
|
|
%
|
|
Amount
|
|
%
|
|||||||||
United States
|
|
$
|
4,205,492
|
|
|
82.1
|
%
|
|
$
|
3,777,960
|
|
|
80.4
|
%
|
|
$
|
3,464,527
|
|
|
80.3
|
%
|
United Kingdom
|
|
452,698
|
|
|
8.8
|
%
|
|
452,956
|
|
|
9.6
|
%
|
|
407,351
|
|
|
9.4
|
%
|
|||
Canada
|
|
463,116
|
|
|
9.1
|
%
|
|
469,583
|
|
|
10.0
|
%
|
|
444,763
|
|
|
10.3
|
%
|
|||
Total
|
|
$
|
5,121,306
|
|
|
100.0
|
%
|
|
$
|
4,700,499
|
|
|
100.0
|
%
|
|
$
|
4,316,641
|
|
|
100.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
As of
|
|
|
|
|
|||||||||||||||
|
|
December 31, 2019
|
|
December 31, 2018
|
|
|
|
|
|||||||||||||
Assets:
|
|
Amount
|
|
%
|
|
Amount
|
|
%
|
|
|
|
|
|||||||||
United States
|
|
$
|
27,513,911
|
|
|
82.4
|
%
|
|
$
|
24,884,292
|
|
|
82.0
|
%
|
|
|
|
|
|||
United Kingdom
|
|
3,405,388
|
|
|
10.2
|
%
|
|
3,078,994
|
|
|
10.1
|
%
|
|
|
|
|
|||||
Canada
|
|
2,461,452
|
|
|
7.4
|
%
|
|
2,378,786
|
|
|
7.9
|
%
|
|
|
|
|
|||||
Total
|
|
$
|
33,380,751
|
|
|
100.0
|
%
|
|
$
|
30,342,072
|
|
|
100.0
|
%
|
|
|
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Per share:
|
|
|
|
|
|
|
||||||
Ordinary dividend(1)
|
|
$
|
2.6937
|
|
|
$
|
2.1988
|
|
|
$
|
1.8117
|
|
Long-term capital gain/(loss)(2)
|
|
0.7863
|
|
|
1.1153
|
|
|
1.5755
|
|
|||
Return of capital
|
|
—
|
|
|
0.1659
|
|
|
0.0928
|
|
|||
Totals
|
|
$
|
3.4800
|
|
|
$
|
3.4800
|
|
|
$
|
3.4800
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Current
|
|
$
|
12,594
|
|
|
$
|
15,850
|
|
|
$
|
7,633
|
|
Deferred
|
|
(9,637
|
)
|
|
(7,176
|
)
|
|
12,495
|
|
|||
Totals
|
|
$
|
2,957
|
|
|
$
|
8,674
|
|
|
$
|
20,128
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Tax at statutory rate on earnings from continuing operations before unconsolidated entities, noncontrolling interests and income taxes
|
|
$
|
280,005
|
|
|
$
|
176,069
|
|
|
$
|
199,588
|
|
Increase (decrease) in valuation allowance(1)
|
|
3,465
|
|
|
28,309
|
|
|
30,445
|
|
|||
Tax at statutory rate on earnings not subject to federal income taxes
|
|
(311,224
|
)
|
|
(206,937
|
)
|
|
(234,468
|
)
|
|||
Foreign permanent depreciation
|
|
9,260
|
|
|
8,110
|
|
|
10,065
|
|
|||
Other differences
|
|
21,451
|
|
|
3,123
|
|
|
14,498
|
|
|||
Totals
|
|
$
|
2,957
|
|
|
$
|
8,674
|
|
|
$
|
20,128
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Investments and property, primarily differences in investment basis, depreciation and amortization, the basis of land assets and the treatment of interests and certain costs
|
|
$
|
(13,064
|
)
|
|
$
|
(2,533
|
)
|
|
$
|
(11,812
|
)
|
Operating loss and interest deduction carryforwards
|
|
127,525
|
|
|
98,713
|
|
|
94,654
|
|
|||
Expense accruals and other
|
|
43,056
|
|
|
48,804
|
|
|
25,146
|
|
|||
Valuation allowance
|
|
(159,057
|
)
|
|
(155,592
|
)
|
|
(127,283
|
)
|
|||
Net deferred tax assets (liabilities)
|
|
$
|
(1,540
|
)
|
|
$
|
(10,608
|
)
|
|
$
|
(19,295
|
)
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Beginning balance
|
|
$
|
155,592
|
|
|
$
|
127,283
|
|
|
$
|
96,838
|
|
Expense (benefit)
|
|
3,465
|
|
|
28,309
|
|
|
30,445
|
|
|||
Ending balance
|
|
$
|
159,057
|
|
|
$
|
155,592
|
|
|
$
|
127,283
|
|
|
|
Year Ended December 31, 2019
|
||||||||||||||
|
|
1st Quarter
|
|
2nd Quarter
|
|
3rd Quarter
|
|
4th Quarter
|
||||||||
Revenues
|
|
$
|
1,272,245
|
|
|
$
|
1,320,106
|
|
|
$
|
1,266,133
|
|
|
$
|
1,262,822
|
|
Net income (loss) attributable to common stockholders
|
|
280,470
|
|
|
137,762
|
|
|
589,876
|
|
|
224,324
|
|
||||
Net income (loss) attributable to common stockholders per share:
|
|
|
|
|
|
|
|
|
||||||||
Basic
|
|
$
|
0.72
|
|
|
$
|
0.34
|
|
|
$
|
1.46
|
|
|
$
|
0.55
|
|
Diluted
|
|
$
|
0.71
|
|
|
$
|
0.34
|
|
|
$
|
1.45
|
|
|
$
|
0.55
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
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 attributable to common stockholders
|
|
437,671
|
|
|
154,432
|
|
|
64,384
|
|
|
101,763
|
|
||||
Net income attributable to common stockholders per share:
|
|
|
|
|
|
|
|
|
||||||||
Basic
|
|
$
|
1.18
|
|
|
$
|
0.42
|
|
|
$
|
0.17
|
|
|
$
|
0.27
|
|
Diluted
|
|
$
|
1.17
|
|
|
$
|
0.41
|
|
|
$
|
0.17
|
|
|
$
|
0.27
|
|
|
|
December 31, 2019
|
|
December 31, 2018
|
||||
Assets:
|
|
|
|
|
||||
Net real estate investments
|
|
$
|
960,093
|
|
|
$
|
973,813
|
|
Cash and cash equivalents
|
|
27,522
|
|
|
18,678
|
|
||
Receivables and other assets
|
|
14,586
|
|
|
14,600
|
|
||
Total assets(1)
|
|
$
|
1,002,201
|
|
|
$
|
1,007,091
|
|
Liabilities and equity:
|
|
|
|
|
||||
Secured debt
|
|
$
|
460,117
|
|
|
$
|
465,433
|
|
Lease liabilities
|
|
1,326
|
|
|
—
|
|
||
Accrued expenses and other liabilities
|
|
22,215
|
|
|
18,229
|
|
||
Total equity
|
|
518,543
|
|
|
523,429
|
|
||
Total liabilities and equity
|
|
$
|
1,002,201
|
|
|
$
|
1,007,091
|
|
Report of Independent Registered Public Accounting Firm
|
|
Consolidated Balance Sheets – December 31, 2019 and 2018
|
|
Consolidated Statements of Comprehensive Income — Years ended December 31, 2019, 2018 and 2017
|
|
Consolidated Statements of Equity — Years ended December 31, 2019, 2018 and 2017
|
|
Consolidated Statements of Cash Flows — Years ended December 31, 2019, 2018 and 2017
|
|
Notes to Consolidated Financial Statements
|
2.1
|
3.2
|
4.1(q)
|
4.1(r)
|
4.1(s)
|
4.1(t)
|
4.1(u)
|
4.4(c)
|
4.5
|
10.1(a)
|
10.1(b)
|
10.4
|
10.5
|
10.7
|
10.8(a)
|
10.8(b)
|
10.8(c)
|
10.8(d)
|
10.9(a)
|
10.9(b)
|
10.10(f)
|
10.13
|
10.14(a)
|
104
|
The cover page from the Company's Annual Report on Form 10-K for the year ended December 31, 2019, formatted in Inline XBRL (included in Exhibit 101)
|
*
|
|
Management Contract or Compensatory Plan or Arrangement.
|
/s/ Jeffrey H. Donahue **
|
|
/s/ Kathryn M. Sullivan **
|
Jeffrey H. Donahue, Lead Director
|
|
Kathryn M. Sullivan, Director
|
|
|
|
/s/ Kenneth J. Bacon **
|
|
/s/ R. Scott Trumbull **
|
Kenneth J. Bacon, Director
|
|
R. Scott Trumbull, Director
|
|
|
|
/s/ Karen B. DeSalvo **
|
|
/s/ Thomas J. DeRosa **
|
Karen B. DeSalvo, Director
|
|
Thomas J. DeRosa, Chairman and Chief Executive Officer
|
|
|
(Principal Executive Officer)
|
|
|
|
/s/ Sharon M. Oster **
|
|
/s/ Timothy G. McHugh **
|
Sharon M. Oster, Director
|
|
Timothy G. McHugh, Senior Vice President and Chief
|
|
|
Financial Officer (Principal Financial Officer)
|
|
|
|
/s/ Sergio D. Rivera **
|
|
/s/ Joshua T. Fieweger**
|
Sergio D. Rivera, Director
|
|
Joshua T. Fieweger, Senior Vice President and
|
|
|
Controller (Principal Accounting Officer)
|
/s/ Johnese M. Spisso **
|
|
|
Johnese M. Spisso, Director
|
|
**By: /s/ Thomas J. DeRosa
|
|
|
Thomas J. DeRosa, Attorney-in-Fact
|
|
|
|
|
|
|
|
|
|
Welltower Inc.
|
|
|
||||||||||||||||||||||||||||||||
Schedule III
|
|
|
||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation
|
|
|
||||||||||||||||||||||||||||||||
December 31, 2019
|
|
|
||||||||||||||||||||||||||||||||
(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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Adderbury, UK
|
|
$
|
—
|
|
|
$
|
2,144
|
|
|
$
|
12,549
|
|
|
$
|
657
|
|
|
$
|
2,230
|
|
|
$
|
13,120
|
|
|
$
|
1,032
|
|
|
2015
|
|
2017
|
|
Banbury Road
|
Albertville, AL
|
|
—
|
|
|
170
|
|
|
6,203
|
|
|
489
|
|
|
176
|
|
|
6,686
|
|
|
1,998
|
|
|
2010
|
|
1999
|
|
151 Woodham Dr.
|
|||||||
Albuquerque, NM
|
|
—
|
|
|
1,270
|
|
|
20,837
|
|
|
2,653
|
|
|
1,354
|
|
|
23,406
|
|
|
7,255
|
|
|
2010
|
|
1984
|
|
500 Paisano St NE
|
|||||||
Alexandria, VA
|
|
—
|
|
|
8,280
|
|
|
50,914
|
|
|
296
|
|
|
8,280
|
|
|
51,210
|
|
|
2,459
|
|
|
2016
|
|
2018
|
|
5550 Cardinal Place
|
|||||||
Altrincham, UK
|
|
—
|
|
|
4,244
|
|
|
25,187
|
|
|
3,274
|
|
|
4,565
|
|
|
28,140
|
|
|
6,892
|
|
|
2012
|
|
2009
|
|
295 Hale Road
|
|||||||
Amherst, NY
|
|
—
|
|
|
1,131
|
|
|
10,520
|
|
|
806
|
|
|
1,131
|
|
|
11,326
|
|
|
623
|
|
|
2019
|
|
2013
|
|
1880 Sweet Home Road
|
|||||||
Amherstview, ON
|
|
—
|
|
|
473
|
|
|
4,446
|
|
|
691
|
|
|
519
|
|
|
5,091
|
|
|
1,019
|
|
|
2015
|
|
1974
|
|
4567 Bath Road
|
|||||||
Anderson, SC
|
|
—
|
|
|
710
|
|
|
6,290
|
|
|
878
|
|
|
710
|
|
|
7,168
|
|
|
3,811
|
|
|
2003
|
|
1986
|
|
311 Simpson Rd.
|
|||||||
Ankeny, IA
|
|
—
|
|
|
1,129
|
|
|
10,239
|
|
|
—
|
|
|
1,129
|
|
|
10,239
|
|
|
970
|
|
|
2016
|
|
2012
|
|
1275 SW State Street
|
|||||||
Apple Valley, CA
|
|
—
|
|
|
480
|
|
|
16,639
|
|
|
856
|
|
|
486
|
|
|
17,489
|
|
|
5,084
|
|
|
2010
|
|
1999
|
|
11825 Apple Valley Rd.
|
|||||||
Arlington, TX
|
|
—
|
|
|
1,660
|
|
|
37,395
|
|
|
3,019
|
|
|
1,660
|
|
|
40,414
|
|
|
10,850
|
|
|
2012
|
|
2000
|
|
1250 West Pioneer Parkway
|
|||||||
Arlington, VA
|
|
—
|
|
|
8,385
|
|
|
31,198
|
|
|
15,162
|
|
|
8,386
|
|
|
46,359
|
|
|
13,165
|
|
|
2017
|
|
1992
|
|
900 N Taylor Street
|
|||||||
Arlington, VA
|
|
—
|
|
|
—
|
|
|
2,338
|
|
|
1,657
|
|
|
5
|
|
|
3,990
|
|
|
259
|
|
|
2018
|
|
1992
|
|
900 N Taylor Street
|
|||||||
Arnprior, ON
|
|
—
|
|
|
788
|
|
|
6,283
|
|
|
880
|
|
|
851
|
|
|
7,100
|
|
|
1,783
|
|
|
2013
|
|
1991
|
|
15 Arthur Street
|
|||||||
Atlanta, GA
|
|
—
|
|
|
2,058
|
|
|
14,914
|
|
|
2,148
|
|
|
2,080
|
|
|
17,040
|
|
|
12,165
|
|
|
1997
|
|
1999
|
|
1460 S Johnson Ferry Rd.
|
|||||||
Atlanta, GA
|
|
—
|
|
|
2,100
|
|
|
20,603
|
|
|
1,824
|
|
|
2,197
|
|
|
22,330
|
|
|
4,829
|
|
|
2014
|
|
2000
|
|
1000 Lenox Park Blvd NE
|
|||||||
Austin, TX
|
|
—
|
|
|
880
|
|
|
9,520
|
|
|
1,902
|
|
|
885
|
|
|
11,417
|
|
|
6,144
|
|
|
1999
|
|
1998
|
|
12429 Scofield Farms Dr.
|
|||||||
Austin, TX
|
|
—
|
|
|
1,560
|
|
|
21,413
|
|
|
750
|
|
|
1,560
|
|
|
22,163
|
|
|
3,533
|
|
|
2014
|
|
2013
|
|
11330 Farrah Lane
|
|||||||
Austin, TX
|
|
—
|
|
|
4,200
|
|
|
74,850
|
|
|
1,287
|
|
|
4,200
|
|
|
76,137
|
|
|
10,166
|
|
|
2015
|
|
2014
|
|
4310 Bee Caves Road
|
|||||||
Bagshot, UK
|
|
—
|
|
|
4,960
|
|
|
29,881
|
|
|
6,822
|
|
|
5,340
|
|
|
36,323
|
|
|
8,360
|
|
|
2012
|
|
2009
|
|
14 - 16 London Road
|
|||||||
Banstead, UK
|
|
—
|
|
|
6,695
|
|
|
55,113
|
|
|
9,912
|
|
|
7,246
|
|
|
64,474
|
|
|
14,801
|
|
|
2012
|
|
2005
|
|
Croydon Lane
|
|||||||
Basingstoke, UK
|
|
—
|
|
|
3,420
|
|
|
18,853
|
|
|
1,958
|
|
|
3,678
|
|
|
20,553
|
|
|
3,155
|
|
|
2014
|
|
2012
|
|
Grove Road
|
|||||||
Basking Ridge, NJ
|
|
—
|
|
|
2,356
|
|
|
37,710
|
|
|
1,738
|
|
|
2,395
|
|
|
39,409
|
|
|
9,083
|
|
|
2013
|
|
2002
|
|
404 King George Road
|
|||||||
Bassett, UK
|
|
—
|
|
|
4,874
|
|
|
32,304
|
|
|
8,919
|
|
|
5,255
|
|
|
40,842
|
|
|
10,030
|
|
|
2013
|
|
2006
|
|
111 Burgess Road
|
|||||||
Bath, UK
|
|
—
|
|
|
2,696
|
|
|
11,876
|
|
|
783
|
|
|
2,805
|
|
|
12,550
|
|
|
979
|
|
|
2015
|
|
2017
|
|
Clarks Way, Rush Hill
|
|||||||
Baton Rouge, LA
|
|
12,930
|
|
|
790
|
|
|
29,436
|
|
|
1,242
|
|
|
886
|
|
|
30,582
|
|
|
6,912
|
|
|
2013
|
|
2009
|
|
9351 Siegen Lane
|
|||||||
Beaconsfield, UK
|
|
—
|
|
|
5,566
|
|
|
50,952
|
|
|
4,746
|
|
|
5,998
|
|
|
55,266
|
|
|
12,416
|
|
|
2013
|
|
2009
|
|
30-34 Station Road
|
|||||||
Beaconsfield, QC
|
|
—
|
|
|
1,149
|
|
|
17,484
|
|
|
1,808
|
|
|
1,289
|
|
|
19,152
|
|
|
5,644
|
|
|
2013
|
|
2008
|
|
505 Elm Avenue
|
|||||||
Bee Cave, TX
|
|
—
|
|
|
1,820
|
|
|
21,084
|
|
|
632
|
|
|
1,820
|
|
|
21,716
|
|
|
2,694
|
|
|
2016
|
|
2014
|
|
14058 A Bee Cave Parkway
|
|||||||
Bellevue, WA
|
|
—
|
|
|
2,800
|
|
|
19,004
|
|
|
2,392
|
|
|
2,816
|
|
|
21,380
|
|
|
6,062
|
|
|
2013
|
|
1998
|
|
15928 NE 8th Street
|
|||||||
Bellingham, WA
|
|
—
|
|
|
1,500
|
|
|
19,861
|
|
|
822
|
|
|
1,507
|
|
|
20,676
|
|
|
5,982
|
|
|
2010
|
|
1996
|
|
4415 Columbine Dr.
|
|||||||
Belmont, CA
|
|
—
|
|
|
—
|
|
|
35,300
|
|
|
2,426
|
|
|
178
|
|
|
37,548
|
|
|
9,080
|
|
|
2013
|
|
2002
|
|
1010 Alameda de Las Pulgas
|
|||||||
Bethel Park, PA
|
|
—
|
|
|
1,609
|
|
|
12,989
|
|
|
—
|
|
|
1,609
|
|
|
12,989
|
|
|
259
|
|
|
2019
|
|
2019
|
|
631 McMurray Road
|
|||||||
Bethesda, MD
|
|
—
|
|
|
—
|
|
|
45,309
|
|
|
1,263
|
|
|
3
|
|
|
46,569
|
|
|
10,744
|
|
|
2013
|
|
2009
|
|
8300 Burdett Road
|
|||||||
Bethesda, MD
|
|
—
|
|
|
—
|
|
|
45
|
|
|
886
|
|
|
—
|
|
|
931
|
|
|
229
|
|
|
2013
|
|
2009
|
|
8300 Burdett Road
|
|||||||
Bethesda, MD
|
|
—
|
|
|
—
|
|
|
212
|
|
|
926
|
|
|
—
|
|
|
1,138
|
|
|
480
|
|
|
2013
|
|
2009
|
|
8300 Burdett Road
|
|||||||
Bethesda, MD
|
|
—
|
|
|
—
|
|
|
—
|
|
|
69,690
|
|
|
3,513
|
|
|
66,252
|
|
|
1,421
|
|
|
2016
|
|
2018
|
|
4925 Battery 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
|
|||||||
Seniors Housing Operating:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Birmingham, UK
|
|
—
|
|
|
148
|
|
|
18,956
|
|
|
—
|
|
|
148
|
|
|
18,956
|
|
|
4,844
|
|
|
2013
|
|
2006
|
|
5 Church Road, Edgbaston
|
Birmingham, UK
|
|
—
|
|
|
1,480
|
|
|
13,014
|
|
|
1,302
|
|
|
1,592
|
|
|
14,204
|
|
|
1,211
|
|
|
2015
|
|
2016
|
|
47 Bristol Road South
|
Birmingham, UK
|
|
—
|
|
|
2,807
|
|
|
11,313
|
|
|
1,598
|
|
|
3,019
|
|
|
12,699
|
|
|
1,038
|
|
|
2015
|
|
2016
|
|
134 Jockey Road
|
Blainville, QC
|
|
—
|
|
|
2,077
|
|
|
8,902
|
|
|
1,388
|
|
|
2,301
|
|
|
10,066
|
|
|
3,242
|
|
|
2013
|
|
2008
|
|
50 des Chateaux Boulevard
|
Bloomfield Hills, MI
|
|
—
|
|
|
2,000
|
|
|
35,662
|
|
|
1,413
|
|
|
2,133
|
|
|
36,942
|
|
|
8,446
|
|
|
2013
|
|
2009
|
|
6790 Telegraph Road
|
Boca Raton, FL
|
|
32,270
|
|
|
6,565
|
|
|
111,247
|
|
|
23,813
|
|
|
6,565
|
|
|
135,060
|
|
|
17,762
|
|
|
2018
|
|
1994
|
|
6343 Via De Sonrise Del Sur
|
Boise, ID
|
|
—
|
|
|
2,220
|
|
|
18,703
|
|
|
1,830
|
|
|
2,220
|
|
|
20,533
|
|
|
349
|
|
|
2019
|
|
1999
|
|
10250 W Smoke Ranch Drive
|
Borehamwood, UK
|
|
—
|
|
|
5,367
|
|
|
41,937
|
|
|
4,370
|
|
|
5,810
|
|
|
45,864
|
|
|
10,954
|
|
|
2012
|
|
2003
|
|
Edgwarebury Lane
|
Bothell, WA
|
|
—
|
|
|
1,350
|
|
|
13,439
|
|
|
6,927
|
|
|
1,798
|
|
|
19,918
|
|
|
3,354
|
|
|
2015
|
|
1988
|
|
10605 NE 185th Street
|
Boulder, CO
|
|
—
|
|
|
2,994
|
|
|
27,458
|
|
|
2,434
|
|
|
3,064
|
|
|
29,822
|
|
|
8,429
|
|
|
2013
|
|
2003
|
|
3955 28th Street
|
Bournemouth, UK
|
|
—
|
|
|
5,527
|
|
|
42,547
|
|
|
4,509
|
|
|
5,966
|
|
|
46,617
|
|
|
10,820
|
|
|
2013
|
|
2008
|
|
42 Belle Vue Road
|
Braintree, MA
|
|
—
|
|
|
—
|
|
|
41,290
|
|
|
1,251
|
|
|
100
|
|
|
42,441
|
|
|
10,092
|
|
|
2013
|
|
2007
|
|
618 Granite Street
|
Brampton, ON
|
|
41,370
|
|
|
10,196
|
|
|
59,989
|
|
|
3,806
|
|
|
10,736
|
|
|
63,255
|
|
|
12,158
|
|
|
2015
|
|
2009
|
|
100 Ken Whillans Drive
|
Brandon, MS
|
|
—
|
|
|
1,220
|
|
|
10,241
|
|
|
277
|
|
|
1,220
|
|
|
10,518
|
|
|
2,594
|
|
|
2010
|
|
1999
|
|
140 Castlewoods Blvd
|
Brick, NJ
|
|
—
|
|
|
1,170
|
|
|
17,372
|
|
|
1,752
|
|
|
1,213
|
|
|
19,081
|
|
|
4,778
|
|
|
2010
|
|
1998
|
|
515 Jack Martin Blvd
|
Brick, NJ
|
|
—
|
|
|
690
|
|
|
17,125
|
|
|
5,803
|
|
|
695
|
|
|
22,923
|
|
|
4,778
|
|
|
2010
|
|
1999
|
|
1594 Route 88
|
Bridgewater, NJ
|
|
—
|
|
|
1,730
|
|
|
48,201
|
|
|
2,785
|
|
|
1,774
|
|
|
50,942
|
|
|
11,700
|
|
|
2010
|
|
1999
|
|
2005 Route 22 West
|
Brockport, NY
|
|
—
|
|
|
1,500
|
|
|
23,496
|
|
|
639
|
|
|
1,705
|
|
|
23,930
|
|
|
4,631
|
|
|
2015
|
|
1999
|
|
90 West Avenue
|
Brockville, ON
|
|
4,375
|
|
|
484
|
|
|
7,445
|
|
|
916
|
|
|
524
|
|
|
8,321
|
|
|
1,480
|
|
|
2015
|
|
1996
|
|
1026 Bridlewood Drive
|
Brookfield, WI
|
|
—
|
|
|
1,300
|
|
|
12,830
|
|
|
147
|
|
|
1,300
|
|
|
12,977
|
|
|
2,137
|
|
|
2012
|
|
2013
|
|
1105 Davidson Road
|
Broomfield, CO
|
|
—
|
|
|
4,140
|
|
|
44,547
|
|
|
12,797
|
|
|
10,140
|
|
|
51,344
|
|
|
18,769
|
|
|
2013
|
|
2009
|
|
400 Summit Blvd
|
Brossard, QC
|
|
10,516
|
|
|
5,499
|
|
|
31,854
|
|
|
2,991
|
|
|
5,720
|
|
|
34,624
|
|
|
7,003
|
|
|
2015
|
|
1989
|
|
2455 Boulevard Rome
|
Buckingham, UK
|
|
—
|
|
|
2,979
|
|
|
13,880
|
|
|
1,801
|
|
|
3,231
|
|
|
15,429
|
|
|
2,436
|
|
|
2014
|
|
1883
|
|
Church Street
|
Buffalo Grove, IL
|
|
—
|
|
|
2,850
|
|
|
49,129
|
|
|
3,932
|
|
|
2,850
|
|
|
53,061
|
|
|
12,104
|
|
|
2012
|
|
2003
|
|
500 McHenry Road
|
Burbank, CA
|
|
—
|
|
|
4,940
|
|
|
43,466
|
|
|
4,101
|
|
|
4,940
|
|
|
47,567
|
|
|
12,013
|
|
|
2012
|
|
2002
|
|
455 E. Angeleno Avenue
|
Burbank, CA
|
|
18,865
|
|
|
3,610
|
|
|
50,817
|
|
|
4,219
|
|
|
3,610
|
|
|
55,036
|
|
|
7,089
|
|
|
2016
|
|
1985
|
|
2721 Willow Street
|
Burke, VA
|
|
—
|
|
|
—
|
|
|
—
|
|
|
52,827
|
|
|
2,575
|
|
|
50,252
|
|
|
1,194
|
|
|
2016
|
|
2018
|
|
9617 Burke Lake Road
|
Burleson, TX
|
|
—
|
|
|
3,150
|
|
|
10,437
|
|
|
681
|
|
|
3,150
|
|
|
11,118
|
|
|
1,669
|
|
|
2012
|
|
2014
|
|
621 Old Highway 1187
|
Burlingame, CA
|
|
—
|
|
|
—
|
|
|
62,786
|
|
|
93
|
|
|
—
|
|
|
62,879
|
|
|
7,356
|
|
|
2016
|
|
2015
|
|
1818 Trousdale Avenue
|
Burlington, ON
|
|
11,513
|
|
|
1,309
|
|
|
19,311
|
|
|
1,829
|
|
|
1,413
|
|
|
21,036
|
|
|
5,071
|
|
|
2013
|
|
1990
|
|
500 Appleby Line
|
Burlington, MA
|
|
—
|
|
|
2,443
|
|
|
34,354
|
|
|
1,645
|
|
|
2,578
|
|
|
35,864
|
|
|
8,967
|
|
|
2013
|
|
2005
|
|
24 Mall Road
|
Burlington, WA
|
|
—
|
|
|
877
|
|
|
14,938
|
|
|
915
|
|
|
877
|
|
|
15,853
|
|
|
1,085
|
|
|
2019
|
|
1999
|
|
410 S Norris St
|
Burlington, WA
|
|
—
|
|
|
768
|
|
|
7,619
|
|
|
568
|
|
|
768
|
|
|
8,187
|
|
|
695
|
|
|
2019
|
|
1996
|
|
210 / 212 N Skagit St
|
Bushey, UK
|
|
—
|
|
|
12,690
|
|
|
36,482
|
|
|
2,005
|
|
|
13,203
|
|
|
37,974
|
|
|
1,554
|
|
|
2015
|
|
2018
|
|
Elton House, Elton Way
|
Calgary, AB
|
|
11,355
|
|
|
2,252
|
|
|
37,415
|
|
|
3,512
|
|
|
2,424
|
|
|
40,755
|
|
|
10,035
|
|
|
2013
|
|
2003
|
|
20 Promenade Way SE
|
Calgary, AB
|
|
12,899
|
|
|
2,793
|
|
|
41,179
|
|
|
3,625
|
|
|
2,991
|
|
|
44,606
|
|
|
10,754
|
|
|
2013
|
|
1998
|
|
80 Edenwold Drive NW
|
Calgary, AB
|
|
10,250
|
|
|
3,122
|
|
|
38,971
|
|
|
3,592
|
|
|
3,358
|
|
|
42,327
|
|
|
10,117
|
|
|
2013
|
|
1998
|
|
150 Scotia Landing NW
|
Calgary, AB
|
|
21,583
|
|
|
3,431
|
|
|
28,983
|
|
|
3,573
|
|
|
3,680
|
|
|
32,307
|
|
|
6,936
|
|
|
2013
|
|
1989
|
|
9229 16th Street SW
|
Calgary, AB
|
|
25,255
|
|
|
2,385
|
|
|
36,776
|
|
|
3,595
|
|
|
2,553
|
|
|
40,203
|
|
|
7,071
|
|
|
2015
|
|
2006
|
|
2220-162nd Avenue SW
|
Camberley, UK
|
|
—
|
|
|
2,654
|
|
|
5,736
|
|
|
20,735
|
|
|
6,091
|
|
|
23,034
|
|
|
1,967
|
|
|
2014
|
|
2016
|
|
Fernhill Road
|
Camillus, NY
|
|
—
|
|
|
2,064
|
|
|
11,132
|
|
|
766
|
|
|
2,064
|
|
|
11,898
|
|
|
748
|
|
|
2019
|
|
2016
|
|
3877 Milton Avenue
|
Cardiff, UK
|
|
—
|
|
|
3,191
|
|
|
12,566
|
|
|
2,206
|
|
|
3,457
|
|
|
14,506
|
|
|
4,212
|
|
|
2013
|
|
2007
|
|
127 Cyncoed Road
|
Cardiff by the Sea, CA
|
|
36,097
|
|
|
5,880
|
|
|
64,711
|
|
|
4,838
|
|
|
5,880
|
|
|
69,549
|
|
|
18,178
|
|
|
2011
|
|
2009
|
|
3535 Manchester 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Carmichael, CA
|
|
24,548
|
|
|
2,440
|
|
|
41,988
|
|
|
1,935
|
|
|
2,440
|
|
|
43,923
|
|
|
—
|
|
|
2019
|
|
2014
|
|
4717 Engle Road
|
Carol Stream, IL
|
|
—
|
|
|
1,730
|
|
|
55,048
|
|
|
3,139
|
|
|
1,730
|
|
|
58,187
|
|
|
14,359
|
|
|
2012
|
|
2001
|
|
545 Belmont Lane
|
Carrollton, TX
|
|
—
|
|
|
4,280
|
|
|
31,444
|
|
|
1,477
|
|
|
4,280
|
|
|
32,921
|
|
|
5,127
|
|
|
2013
|
|
2010
|
|
2105 North Josey Lane
|
Cary, NC
|
|
—
|
|
|
740
|
|
|
45,240
|
|
|
918
|
|
|
740
|
|
|
46,158
|
|
|
9,522
|
|
|
2013
|
|
2009
|
|
1206 West Chatham Street
|
Cary, NC
|
|
—
|
|
|
6,112
|
|
|
70,008
|
|
|
9,070
|
|
|
6,155
|
|
|
79,035
|
|
|
9,215
|
|
|
2018
|
|
1999
|
|
300 Kildaire Woods Drive
|
Cedar Park, TX
|
|
—
|
|
|
1,750
|
|
|
15,664
|
|
|
742
|
|
|
1,750
|
|
|
16,406
|
|
|
1,351
|
|
|
2016
|
|
2015
|
|
800 C-Bar Ranch Trail
|
Cerritos, CA
|
|
—
|
|
|
—
|
|
|
27,494
|
|
|
6,833
|
|
|
—
|
|
|
34,327
|
|
|
7,207
|
|
|
2016
|
|
2002
|
|
11000 New Falcon Way
|
Charlottesville, VA
|
|
—
|
|
|
4,651
|
|
|
91,468
|
|
|
13,629
|
|
|
4,651
|
|
|
105,097
|
|
|
15,730
|
|
|
2018
|
|
1991
|
|
2610 Barracks Road
|
Chatham, ON
|
|
642
|
|
|
1,098
|
|
|
12,462
|
|
|
3,290
|
|
|
1,255
|
|
|
15,595
|
|
|
3,709
|
|
|
2015
|
|
1965
|
|
25 Keil Drive North
|
Chelmsford, MA
|
|
—
|
|
|
1,040
|
|
|
10,951
|
|
|
2,018
|
|
|
1,120
|
|
|
12,889
|
|
|
4,935
|
|
|
2003
|
|
1997
|
|
4 Technology Dr.
|
Chertsey, UK
|
|
—
|
|
|
9,566
|
|
|
25,886
|
|
|
1,951
|
|
|
9,952
|
|
|
27,451
|
|
|
1,660
|
|
|
2015
|
|
2018
|
|
Bittams Lane
|
Chesterfield, MO
|
|
—
|
|
|
1,857
|
|
|
48,366
|
|
|
1,512
|
|
|
1,917
|
|
|
49,818
|
|
|
10,924
|
|
|
2013
|
|
2001
|
|
1880 Clarkson Road
|
Chorleywood, UK
|
|
—
|
|
|
5,636
|
|
|
43,191
|
|
|
6,354
|
|
|
6,076
|
|
|
49,105
|
|
|
12,352
|
|
|
2013
|
|
2007
|
|
High View, Rickmansworth Road
|
Chula Vista, CA
|
|
—
|
|
|
2,072
|
|
|
22,163
|
|
|
1,484
|
|
|
2,162
|
|
|
23,557
|
|
|
5,574
|
|
|
2013
|
|
2003
|
|
3302 Bonita Road
|
Church Crookham, UK
|
|
—
|
|
|
2,591
|
|
|
14,215
|
|
|
1,882
|
|
|
2,806
|
|
|
15,882
|
|
|
3,197
|
|
|
2014
|
|
2014
|
|
Bourley Road
|
Cincinnati, OH
|
|
—
|
|
|
1,750
|
|
|
11,279
|
|
|
79
|
|
|
1,750
|
|
|
11,358
|
|
|
355
|
|
|
2019
|
|
2019
|
|
732 Clough Pike Road
|
Cincinnati, OH
|
|
—
|
|
|
2,060
|
|
|
109,388
|
|
|
13,965
|
|
|
2,106
|
|
|
123,307
|
|
|
30,961
|
|
|
2007
|
|
2010
|
|
5445 Kenwood Road
|
Citrus Heights, CA
|
|
—
|
|
|
2,300
|
|
|
31,876
|
|
|
1,658
|
|
|
2,300
|
|
|
33,534
|
|
|
9,837
|
|
|
2010
|
|
1997
|
|
7418 Stock Ranch Rd.
|
Claremont, CA
|
|
—
|
|
|
2,430
|
|
|
9,928
|
|
|
1,765
|
|
|
2,515
|
|
|
11,608
|
|
|
3,183
|
|
|
2013
|
|
2001
|
|
2053 North Towne Avenue
|
Clay, NY
|
|
—
|
|
|
1,296
|
|
|
10,695
|
|
|
734
|
|
|
1,296
|
|
|
11,429
|
|
|
702
|
|
|
2019
|
|
2014
|
|
8547 Morgan Road
|
Cohasset, MA
|
|
—
|
|
|
2,485
|
|
|
26,147
|
|
|
2,040
|
|
|
2,500
|
|
|
28,172
|
|
|
6,861
|
|
|
2013
|
|
1998
|
|
125 King Street (Rt 3A)
|
Colleyville, TX
|
|
—
|
|
|
1,050
|
|
|
17,082
|
|
|
53
|
|
|
1,050
|
|
|
17,135
|
|
|
1,385
|
|
|
2016
|
|
2013
|
|
8100 Precinct Line Road
|
Colorado Springs, CO
|
|
—
|
|
|
800
|
|
|
14,756
|
|
|
2,026
|
|
|
1,026
|
|
|
16,556
|
|
|
4,211
|
|
|
2013
|
|
2001
|
|
2105 University Park Boulevard
|
Colts Neck, NJ
|
|
—
|
|
|
780
|
|
|
14,733
|
|
|
2,599
|
|
|
1,131
|
|
|
16,981
|
|
|
4,194
|
|
|
2010
|
|
2002
|
|
3 Meridian Circle
|
Coquitlam, BC
|
|
9,102
|
|
|
3,047
|
|
|
24,567
|
|
|
2,439
|
|
|
3,264
|
|
|
26,789
|
|
|
7,628
|
|
|
2013
|
|
1990
|
|
1142 Dufferin Street
|
Crystal Lake, IL
|
|
—
|
|
|
875
|
|
|
12,461
|
|
|
1,556
|
|
|
971
|
|
|
13,921
|
|
|
3,869
|
|
|
2013
|
|
2001
|
|
751 E Terra Cotta Avenue
|
Dallas, TX
|
|
—
|
|
|
6,330
|
|
|
114,794
|
|
|
2,288
|
|
|
6,330
|
|
|
117,082
|
|
|
16,762
|
|
|
2015
|
|
2013
|
|
3535 N Hall Street
|
Davenport, IA
|
|
—
|
|
|
1,403
|
|
|
35,893
|
|
|
4,830
|
|
|
1,614
|
|
|
40,512
|
|
|
11,931
|
|
|
2006
|
|
2009
|
|
4500 Elmore Ave.
|
Decatur, GA
|
|
—
|
|
|
—
|
|
|
—
|
|
|
31,177
|
|
|
1,946
|
|
|
29,231
|
|
|
7,458
|
|
|
2013
|
|
1998
|
|
920 Clairemont Avenue
|
Denver, CO
|
|
—
|
|
|
1,450
|
|
|
19,389
|
|
|
3,671
|
|
|
1,450
|
|
|
23,060
|
|
|
4,957
|
|
|
2012
|
|
1997
|
|
4901 South Monaco Street
|
Denver, CO
|
|
—
|
|
|
2,910
|
|
|
35,838
|
|
|
2,010
|
|
|
2,910
|
|
|
37,848
|
|
|
9,701
|
|
|
2012
|
|
2007
|
|
8101 E Mississippi Avenue
|
Denver, CO
|
|
—
|
|
|
5,411
|
|
|
104,641
|
|
|
8,008
|
|
|
5,411
|
|
|
112,649
|
|
|
3,672
|
|
|
2019
|
|
2014
|
|
1500 Little Raven St
|
Dix Hills, NY
|
|
—
|
|
|
3,808
|
|
|
39,014
|
|
|
2,045
|
|
|
3,959
|
|
|
40,908
|
|
|
9,751
|
|
|
2013
|
|
2003
|
|
337 Deer Park Road
|
Dollard-Des-Ormeaux, QC
|
|
—
|
|
|
1,957
|
|
|
14,431
|
|
|
1,585
|
|
|
2,145
|
|
|
15,828
|
|
|
5,414
|
|
|
2013
|
|
2008
|
|
4377 St. Jean Blvd
|
Dresher, PA
|
|
8,380
|
|
|
1,900
|
|
|
10,664
|
|
|
1,211
|
|
|
1,914
|
|
|
11,861
|
|
|
4,008
|
|
|
2013
|
|
2006
|
|
1650 Susquehanna Road
|
Dublin, OH
|
|
—
|
|
|
1,680
|
|
|
43,423
|
|
|
7,075
|
|
|
1,850
|
|
|
50,328
|
|
|
16,148
|
|
|
2010
|
|
1990
|
|
6470 Post Rd
|
Dublin, OH
|
|
—
|
|
|
1,169
|
|
|
25,345
|
|
|
112
|
|
|
1,169
|
|
|
25,457
|
|
|
3,252
|
|
|
2016
|
|
2015
|
|
4175 Stoneridge Lane
|
East Amherst, NY
|
|
—
|
|
|
1,626
|
|
|
10,721
|
|
|
863
|
|
|
1,626
|
|
|
11,584
|
|
|
704
|
|
|
2019
|
|
2015
|
|
8040 Roll Road
|
East Meadow, NY
|
|
—
|
|
|
69
|
|
|
45,991
|
|
|
1,837
|
|
|
124
|
|
|
47,773
|
|
|
11,123
|
|
|
2013
|
|
2002
|
|
1555 Glen Curtiss Boulevard
|
East Setauket, NY
|
|
—
|
|
|
4,920
|
|
|
37,354
|
|
|
1,982
|
|
|
4,986
|
|
|
39,270
|
|
|
9,211
|
|
|
2013
|
|
2002
|
|
1 Sunrise Drive
|
Eastbourne, UK
|
|
—
|
|
|
4,145
|
|
|
33,744
|
|
|
3,384
|
|
|
4,472
|
|
|
36,801
|
|
|
8,971
|
|
|
2013
|
|
2008
|
|
6 Upper Kings Drive
|
Edgbaston, UK
|
|
—
|
|
|
2,720
|
|
|
13,969
|
|
|
1,524
|
|
|
2,926
|
|
|
15,287
|
|
|
2,003
|
|
|
2014
|
|
2015
|
|
Pershore Road
|
Edgewater, NJ
|
|
—
|
|
|
4,561
|
|
|
25,047
|
|
|
1,767
|
|
|
4,564
|
|
|
26,811
|
|
|
6,634
|
|
|
2013
|
|
2000
|
|
351 River 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Edison, NJ
|
|
—
|
|
|
1,892
|
|
|
32,314
|
|
|
3,498
|
|
|
1,911
|
|
|
35,793
|
|
|
10,447
|
|
|
2013
|
|
1996
|
|
1801 Oak Tree Road
|
Edmonds, WA
|
|
—
|
|
|
1,650
|
|
|
24,449
|
|
|
8,055
|
|
|
1,686
|
|
|
32,468
|
|
|
4,664
|
|
|
2015
|
|
1976
|
|
21500 72nd Avenue West
|
Edmonton, AB
|
|
8,211
|
|
|
1,589
|
|
|
29,819
|
|
|
3,016
|
|
|
1,753
|
|
|
32,671
|
|
|
8,106
|
|
|
2013
|
|
1999
|
|
103 Rabbit Hill Court NW
|
Edmonton, AB
|
|
10,735
|
|
|
2,063
|
|
|
37,293
|
|
|
3,913
|
|
|
2,209
|
|
|
41,060
|
|
|
12,124
|
|
|
2013
|
|
1968
|
|
10015 103rd Avenue NW
|
El Dorado Hills, CA
|
|
—
|
|
|
5,190
|
|
|
52,171
|
|
|
156
|
|
|
5,190
|
|
|
52,327
|
|
|
—
|
|
|
2017
|
|
2019
|
|
2020 Town Center West Way
|
Encino, CA
|
|
—
|
|
|
5,040
|
|
|
46,255
|
|
|
5,021
|
|
|
5,040
|
|
|
51,276
|
|
|
12,449
|
|
|
2012
|
|
2003
|
|
15451 Ventura Boulevard
|
Englishtown, NJ
|
|
—
|
|
|
690
|
|
|
12,520
|
|
|
2,267
|
|
|
860
|
|
|
14,617
|
|
|
3,781
|
|
|
2010
|
|
1997
|
|
49 Lasatta Ave
|
Erie, PA
|
|
—
|
|
|
1,422
|
|
|
8,198
|
|
|
792
|
|
|
1,422
|
|
|
8,990
|
|
|
586
|
|
|
2019
|
|
2013
|
|
4400 East Lake Road
|
Esher, UK
|
|
—
|
|
|
5,783
|
|
|
48,361
|
|
|
7,998
|
|
|
6,242
|
|
|
55,900
|
|
|
11,709
|
|
|
2013
|
|
2006
|
|
42 Copsem Lane
|
Fairfield, NJ
|
|
—
|
|
|
3,120
|
|
|
43,868
|
|
|
2,277
|
|
|
3,180
|
|
|
46,085
|
|
|
10,815
|
|
|
2013
|
|
1998
|
|
47 Greenbrook Road
|
Fairfield, CA
|
|
—
|
|
|
1,460
|
|
|
14,040
|
|
|
2,711
|
|
|
1,460
|
|
|
16,751
|
|
|
7,033
|
|
|
2002
|
|
1998
|
|
3350 Cherry Hills St.
|
Fairfield, OH
|
|
—
|
|
|
1,416
|
|
|
12,566
|
|
|
294
|
|
|
1,416
|
|
|
12,860
|
|
|
517
|
|
|
2019
|
|
2018
|
|
520 Patterson Boulevard
|
Fareham, UK
|
|
—
|
|
|
3,408
|
|
|
17,970
|
|
|
2,088
|
|
|
3,681
|
|
|
19,785
|
|
|
3,622
|
|
|
2014
|
|
2012
|
|
Redlands Lane
|
Florence, AL
|
|
—
|
|
|
353
|
|
|
13,049
|
|
|
729
|
|
|
385
|
|
|
13,746
|
|
|
3,938
|
|
|
2010
|
|
1999
|
|
3275 County Road 47
|
Flossmoor, IL
|
|
—
|
|
|
1,292
|
|
|
9,496
|
|
|
2,090
|
|
|
1,339
|
|
|
11,539
|
|
|
3,515
|
|
|
2013
|
|
2000
|
|
19715 Governors Highway
|
Folsom, CA
|
|
—
|
|
|
1,490
|
|
|
32,754
|
|
|
93
|
|
|
1,490
|
|
|
32,847
|
|
|
5,416
|
|
|
2015
|
|
2014
|
|
1574 Creekside Drive
|
Fort Worth, TX
|
|
—
|
|
|
7,118
|
|
|
52,772
|
|
|
1,744
|
|
|
7,118
|
|
|
54,516
|
|
|
1,910
|
|
|
2019
|
|
2017
|
|
3401 Amador Drive
|
Fort Worth, TX
|
|
—
|
|
|
2,080
|
|
|
27,888
|
|
|
4,371
|
|
|
2,080
|
|
|
32,259
|
|
|
8,525
|
|
|
2012
|
|
2001
|
|
2151 Green Oaks Road
|
Fort Worth, TX
|
|
—
|
|
|
1,740
|
|
|
19,799
|
|
|
732
|
|
|
1,740
|
|
|
20,531
|
|
|
2,435
|
|
|
2016
|
|
2014
|
|
7001 Bryant Irvin Road
|
Fremont, CA
|
|
—
|
|
|
3,400
|
|
|
25,300
|
|
|
5,295
|
|
|
3,456
|
|
|
30,539
|
|
|
11,041
|
|
|
2005
|
|
1987
|
|
2860 Country Dr.
|
Fresno, CA
|
|
23,720
|
|
|
2,459
|
|
|
33,048
|
|
|
1,755
|
|
|
2,459
|
|
|
34,803
|
|
|
—
|
|
|
2019
|
|
2014
|
|
5605 North Gates Avenue
|
Frome, UK
|
|
—
|
|
|
2,720
|
|
|
14,813
|
|
|
1,884
|
|
|
2,926
|
|
|
16,491
|
|
|
2,706
|
|
|
2014
|
|
2012
|
|
Welshmill Lane
|
Fullerton, CA
|
|
—
|
|
|
1,964
|
|
|
19,989
|
|
|
1,168
|
|
|
1,998
|
|
|
21,123
|
|
|
5,300
|
|
|
2013
|
|
2008
|
|
2226 North Euclid Street
|
Gahanna, OH
|
|
—
|
|
|
772
|
|
|
11,214
|
|
|
1,884
|
|
|
787
|
|
|
13,083
|
|
|
3,180
|
|
|
2013
|
|
1998
|
|
775 East Johnstown Road
|
Gardnerville, NV
|
|
—
|
|
|
1,143
|
|
|
10,831
|
|
|
1,364
|
|
|
1,164
|
|
|
12,174
|
|
|
9,112
|
|
|
1998
|
|
1999
|
|
1565-A Virginia Ranch Rd.
|
Gig Harbor, WA
|
|
—
|
|
|
1,560
|
|
|
15,947
|
|
|
1,155
|
|
|
1,583
|
|
|
17,079
|
|
|
4,706
|
|
|
2010
|
|
1994
|
|
3213 45th St. Court NW
|
Gilbert, AZ
|
|
14,200
|
|
|
2,160
|
|
|
28,246
|
|
|
2,025
|
|
|
2,180
|
|
|
30,251
|
|
|
9,137
|
|
|
2013
|
|
2008
|
|
580 S. Gilbert Road
|
Glen Cove, NY
|
|
—
|
|
|
4,594
|
|
|
35,236
|
|
|
2,276
|
|
|
4,643
|
|
|
37,463
|
|
|
10,265
|
|
|
2013
|
|
1998
|
|
39 Forest Avenue
|
Glenview, IL
|
|
—
|
|
|
2,090
|
|
|
69,288
|
|
|
4,276
|
|
|
2,090
|
|
|
73,564
|
|
|
17,854
|
|
|
2012
|
|
2001
|
|
2200 Golf Road
|
Golden Valley, MN
|
|
3,600
|
|
|
1,520
|
|
|
33,513
|
|
|
1,578
|
|
|
1,634
|
|
|
34,977
|
|
|
8,005
|
|
|
2013
|
|
2005
|
|
4950 Olson Memorial Highway
|
Granbury, TX
|
|
—
|
|
|
2,040
|
|
|
30,670
|
|
|
710
|
|
|
2,040
|
|
|
31,380
|
|
|
7,189
|
|
|
2011
|
|
2009
|
|
100 Watermark Boulevard
|
Grimsby, ON
|
|
—
|
|
|
636
|
|
|
5,617
|
|
|
732
|
|
|
683
|
|
|
6,302
|
|
|
1,224
|
|
|
2015
|
|
1991
|
|
84 Main Street East
|
Grosse Pointe Woods, MI
|
|
—
|
|
|
950
|
|
|
13,662
|
|
|
891
|
|
|
950
|
|
|
14,553
|
|
|
3,255
|
|
|
2013
|
|
2006
|
|
1850 Vernier Road
|
Grosse Pointe Woods, MI
|
|
—
|
|
|
1,430
|
|
|
31,777
|
|
|
1,282
|
|
|
1,435
|
|
|
33,054
|
|
|
7,444
|
|
|
2013
|
|
2005
|
|
21260 Mack Avenue
|
Grove City, OH
|
|
36,420
|
|
|
3,575
|
|
|
85,764
|
|
|
865
|
|
|
3,491
|
|
|
86,713
|
|
|
3,901
|
|
|
2018
|
|
2017
|
|
3717 Orders Road
|
Guildford, UK
|
|
—
|
|
|
5,361
|
|
|
56,494
|
|
|
5,122
|
|
|
5,766
|
|
|
61,211
|
|
|
13,881
|
|
|
2013
|
|
2006
|
|
Astolat Way, Peasmarsh
|
Gurnee, IL
|
|
—
|
|
|
890
|
|
|
27,931
|
|
|
2,478
|
|
|
935
|
|
|
30,364
|
|
|
6,640
|
|
|
2013
|
|
2002
|
|
500 North Hunt Club Road
|
Haddonfield, NJ
|
|
—
|
|
|
520
|
|
|
16,363
|
|
|
590
|
|
|
527
|
|
|
16,946
|
|
|
2,315
|
|
|
2011
|
|
2015
|
|
132 Warwick Road
|
Hamburg, NY
|
|
—
|
|
|
967
|
|
|
10,006
|
|
|
821
|
|
|
967
|
|
|
10,827
|
|
|
622
|
|
|
2019
|
|
2009
|
|
4600 Southwestern Blvd
|
Hamilton, OH
|
|
—
|
|
|
1,163
|
|
|
11,960
|
|
|
—
|
|
|
1,163
|
|
|
11,960
|
|
|
364
|
|
|
2019
|
|
2019
|
|
1740 Eden Park Drive
|
Hampshire, UK
|
|
—
|
|
|
4,172
|
|
|
26,035
|
|
|
2,581
|
|
|
4,496
|
|
|
28,292
|
|
|
6,835
|
|
|
2013
|
|
2006
|
|
22-26 Church Road
|
Happy Valley, OR
|
|
—
|
|
|
709
|
|
|
9,889
|
|
|
446
|
|
|
709
|
|
|
10,335
|
|
|
706
|
|
|
2019
|
|
1998
|
|
8915 S.E. Monterey
|
Haverford, PA
|
|
—
|
|
|
1,880
|
|
|
33,993
|
|
|
2,648
|
|
|
1,904
|
|
|
36,617
|
|
|
8,274
|
|
|
2010
|
|
2000
|
|
731 Old Buck 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
|
|||||||
Seniors Housing Operating:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Henderson, NV
|
|
—
|
|
|
1,190
|
|
|
11,600
|
|
|
1,111
|
|
|
1,253
|
|
|
12,648
|
|
|
4,139
|
|
|
2013
|
|
2008
|
|
1555 West Horizon Ridge Parkway
|
High Wycombe, UK
|
|
—
|
|
|
3,567
|
|
|
13,422
|
|
|
1,140
|
|
|
3,711
|
|
|
14,418
|
|
|
1,087
|
|
|
2015
|
|
2017
|
|
The Row Lane End
|
Highland Park, IL
|
|
—
|
|
|
2,820
|
|
|
15,832
|
|
|
796
|
|
|
2,820
|
|
|
16,628
|
|
|
3,013
|
|
|
2011
|
|
2012
|
|
1651 Richfield Avenue
|
Highland Park, IL
|
|
—
|
|
|
2,250
|
|
|
25,313
|
|
|
1,556
|
|
|
2,271
|
|
|
26,848
|
|
|
7,216
|
|
|
2013
|
|
2005
|
|
1601 Green Bay Road
|
Hingham, MA
|
|
—
|
|
|
1,440
|
|
|
32,292
|
|
|
318
|
|
|
1,444
|
|
|
32,606
|
|
|
5,373
|
|
|
2015
|
|
2012
|
|
1 Sgt. William B Terry Drive
|
Holbrook, NY
|
|
—
|
|
|
3,957
|
|
|
35,337
|
|
|
2,351
|
|
|
4,145
|
|
|
37,500
|
|
|
8,607
|
|
|
2013
|
|
2001
|
|
320 Patchogue Holbrook Road
|
Horley, UK
|
|
—
|
|
|
2,332
|
|
|
12,144
|
|
|
1,851
|
|
|
2,516
|
|
|
13,811
|
|
|
2,788
|
|
|
2014
|
|
2014
|
|
Court Lodge Road
|
Houston, TX
|
|
—
|
|
|
3,830
|
|
|
55,674
|
|
|
7,693
|
|
|
3,830
|
|
|
63,367
|
|
|
16,958
|
|
|
2012
|
|
1998
|
|
2929 West Holcombe Boulevard
|
Houston, TX
|
|
—
|
|
|
1,040
|
|
|
31,965
|
|
|
5,466
|
|
|
1,040
|
|
|
37,431
|
|
|
8,478
|
|
|
2012
|
|
1999
|
|
505 Bering Drive
|
Houston, TX
|
|
—
|
|
|
1,750
|
|
|
15,603
|
|
|
1,595
|
|
|
1,750
|
|
|
17,198
|
|
|
1,485
|
|
|
2016
|
|
2014
|
|
10120 Louetta Road
|
Houston, TX
|
|
—
|
|
|
960
|
|
|
15,275
|
|
|
—
|
|
|
960
|
|
|
15,275
|
|
|
7,461
|
|
|
2011
|
|
1995
|
|
10225 Cypresswood Dr
|
Howell, NJ
|
|
8,096
|
|
|
1,066
|
|
|
21,577
|
|
|
1,348
|
|
|
1,149
|
|
|
22,842
|
|
|
5,460
|
|
|
2010
|
|
2007
|
|
100 Meridian Place
|
Huntington Beach, CA
|
|
—
|
|
|
3,808
|
|
|
31,172
|
|
|
2,646
|
|
|
3,931
|
|
|
33,695
|
|
|
9,396
|
|
|
2013
|
|
2004
|
|
7401 Yorktown Avenue
|
Independence, MO
|
|
—
|
|
|
1,550
|
|
|
14,463
|
|
|
—
|
|
|
1,550
|
|
|
14,463
|
|
|
396
|
|
|
2019
|
|
2019
|
|
19301 East Eastland Ctr Ct
|
Irving, TX
|
|
—
|
|
|
1,030
|
|
|
6,823
|
|
|
882
|
|
|
1,030
|
|
|
7,705
|
|
|
2,246
|
|
|
2007
|
|
1999
|
|
8855 West Valley Ranch Parkway
|
Jacksonville, FL
|
|
—
|
|
|
6,550
|
|
|
29,316
|
|
|
—
|
|
|
6,550
|
|
|
29,316
|
|
|
100
|
|
|
2019
|
|
2019
|
|
10520 Validus Drive
|
Johns Creek, GA
|
|
—
|
|
|
1,580
|
|
|
23,285
|
|
|
1,070
|
|
|
1,588
|
|
|
24,347
|
|
|
5,794
|
|
|
2013
|
|
2009
|
|
11405 Medlock Bridge Road
|
Johnson City, NY
|
|
—
|
|
|
1,392
|
|
|
11,828
|
|
|
876
|
|
|
1,392
|
|
|
12,704
|
|
|
727
|
|
|
2019
|
|
2013
|
|
1035 Anna Maria Drive
|
Kanata, ON
|
|
—
|
|
|
1,689
|
|
|
28,670
|
|
|
1,972
|
|
|
1,750
|
|
|
30,581
|
|
|
7,368
|
|
|
2012
|
|
2005
|
|
70 Stonehaven Drive
|
Kansas City, MO
|
|
—
|
|
|
1,820
|
|
|
34,898
|
|
|
5,277
|
|
|
1,889
|
|
|
40,106
|
|
|
13,314
|
|
|
2010
|
|
1980
|
|
12100 Wornall Road
|
Kansas City, MO
|
|
4,880
|
|
|
1,930
|
|
|
39,997
|
|
|
5,488
|
|
|
1,987
|
|
|
45,428
|
|
|
14,964
|
|
|
2010
|
|
1986
|
|
6500 North Cosby Ave
|
Kansas City, MO
|
|
—
|
|
|
541
|
|
|
23,962
|
|
|
320
|
|
|
548
|
|
|
24,275
|
|
|
3,884
|
|
|
2015
|
|
2014
|
|
6460 North Cosby Avenue
|
Kelowna, BC
|
|
5,176
|
|
|
2,688
|
|
|
13,647
|
|
|
2,123
|
|
|
2,895
|
|
|
15,563
|
|
|
4,386
|
|
|
2013
|
|
1999
|
|
863 Leon Avenue
|
Kennebunk, ME
|
|
—
|
|
|
2,700
|
|
|
30,204
|
|
|
5,587
|
|
|
3,223
|
|
|
35,268
|
|
|
13,375
|
|
|
2013
|
|
2006
|
|
One Huntington Common Drive
|
Kenner, LA
|
|
—
|
|
|
1,100
|
|
|
10,036
|
|
|
1,392
|
|
|
1,100
|
|
|
11,428
|
|
|
10,059
|
|
|
1998
|
|
2000
|
|
1600 Joe Yenni Blvd
|
Kennett Square, PA
|
|
—
|
|
|
1,050
|
|
|
22,946
|
|
|
833
|
|
|
1,103
|
|
|
23,726
|
|
|
5,474
|
|
|
2010
|
|
2008
|
|
301 Victoria Gardens Dr.
|
Kingston, ON
|
|
4,229
|
|
|
1,030
|
|
|
11,416
|
|
|
1,597
|
|
|
1,115
|
|
|
12,928
|
|
|
2,200
|
|
|
2015
|
|
1983
|
|
181 Ontario Street
|
Kingwood, TX
|
|
—
|
|
|
480
|
|
|
9,777
|
|
|
854
|
|
|
480
|
|
|
10,631
|
|
|
2,704
|
|
|
2011
|
|
1999
|
|
22955 Eastex Freeway
|
Kingwood, TX
|
|
—
|
|
|
1,683
|
|
|
24,207
|
|
|
2,471
|
|
|
1,683
|
|
|
26,678
|
|
|
3,931
|
|
|
2017
|
|
2012
|
|
24025 Kingwood Place
|
Kirkland, WA
|
|
—
|
|
|
1,880
|
|
|
4,315
|
|
|
1,231
|
|
|
1,880
|
|
|
5,546
|
|
|
2,073
|
|
|
2003
|
|
1996
|
|
6505 Lakeview Dr.
|
Kitchener, ON
|
|
1,329
|
|
|
708
|
|
|
2,744
|
|
|
296
|
|
|
684
|
|
|
3,064
|
|
|
901
|
|
|
2013
|
|
1979
|
|
164 - 168 Ferfus Avenue
|
Kitchener, ON
|
|
3,323
|
|
|
1,093
|
|
|
7,327
|
|
|
889
|
|
|
1,182
|
|
|
8,127
|
|
|
2,513
|
|
|
2013
|
|
1964
|
|
290 Queen Street South
|
Kitchener, ON
|
|
12,374
|
|
|
1,341
|
|
|
13,939
|
|
|
4,284
|
|
|
1,400
|
|
|
18,164
|
|
|
3,702
|
|
|
2016
|
|
2003
|
|
1250 Weber Street E
|
La Palma, CA
|
|
—
|
|
|
2,950
|
|
|
16,591
|
|
|
1,269
|
|
|
2,973
|
|
|
17,837
|
|
|
4,369
|
|
|
2013
|
|
2003
|
|
5321 La Palma Avenue
|
Lackawanna, NY
|
|
—
|
|
|
1,011
|
|
|
5,254
|
|
|
478
|
|
|
1,011
|
|
|
5,732
|
|
|
453
|
|
|
2019
|
|
2002
|
|
133 Orchard Place
|
Lafayette Hill, PA
|
|
—
|
|
|
1,750
|
|
|
11,848
|
|
|
2,372
|
|
|
1,867
|
|
|
14,103
|
|
|
4,471
|
|
|
2013
|
|
1998
|
|
429 Ridge Pike
|
Laguna Hills, CA
|
|
—
|
|
|
12,820
|
|
|
75,926
|
|
|
19,001
|
|
|
12,820
|
|
|
94,927
|
|
|
18,601
|
|
|
2016
|
|
1988
|
|
24903 Moulton Parkway
|
Laguna Woods, CA
|
|
—
|
|
|
11,280
|
|
|
76,485
|
|
|
12,995
|
|
|
11,280
|
|
|
89,480
|
|
|
15,798
|
|
|
2016
|
|
1987
|
|
24441 Calle Sonora
|
Laguna Woods, CA
|
|
—
|
|
|
9,150
|
|
|
57,842
|
|
|
11,547
|
|
|
9,150
|
|
|
69,389
|
|
|
12,299
|
|
|
2016
|
|
1986
|
|
24962 Calle Aragon
|
Lake Zurich, IL
|
|
—
|
|
|
1,470
|
|
|
9,830
|
|
|
2,707
|
|
|
1,470
|
|
|
12,537
|
|
|
4,401
|
|
|
2011
|
|
2007
|
|
550 America Court
|
Lancaster, CA
|
|
—
|
|
|
700
|
|
|
15,295
|
|
|
1,364
|
|
|
712
|
|
|
16,647
|
|
|
5,201
|
|
|
2010
|
|
1999
|
|
43051 15th St. West
|
Lancaster, NY
|
|
—
|
|
|
1,252
|
|
|
11,084
|
|
|
976
|
|
|
1,252
|
|
|
12,060
|
|
|
689
|
|
|
2019
|
|
2011
|
|
18 Pavement Road
|
Laval, QC
|
|
22,375
|
|
|
2,105
|
|
|
32,161
|
|
|
5,368
|
|
|
2,214
|
|
|
37,420
|
|
|
4,851
|
|
|
2018
|
|
2005
|
|
269, boulevard Ste. Rose
|
(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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Laval, QC
|
|
4,306
|
|
|
2,383
|
|
|
5,968
|
|
|
1,419
|
|
|
2,507
|
|
|
7,263
|
|
|
894
|
|
|
2018
|
|
1989
|
|
263, boulevard Ste. Rose
|
Lawrenceville, GA
|
|
—
|
|
|
1,500
|
|
|
29,003
|
|
|
794
|
|
|
1,529
|
|
|
29,768
|
|
|
7,241
|
|
|
2013
|
|
2008
|
|
1375 Webb Gin House Road
|
Leatherhead, UK
|
|
—
|
|
|
4,682
|
|
|
17,835
|
|
|
1,727
|
|
|
4,871
|
|
|
19,373
|
|
|
1,338
|
|
|
2015
|
|
2017
|
|
Rectory Lane
|
Leawood, KS
|
|
—
|
|
|
2,490
|
|
|
32,493
|
|
|
3,749
|
|
|
5,610
|
|
|
33,122
|
|
|
8,386
|
|
|
2012
|
|
1999
|
|
4400 West 115th Street
|
Lecanto, FL
|
|
—
|
|
|
200
|
|
|
6,900
|
|
|
421
|
|
|
208
|
|
|
7,313
|
|
|
2,884
|
|
|
2004
|
|
1986
|
|
2341 W. Norvell Bryant Hwy.
|
Lenexa, KS
|
|
9,700
|
|
|
826
|
|
|
26,251
|
|
|
1,332
|
|
|
922
|
|
|
27,487
|
|
|
7,167
|
|
|
2013
|
|
2006
|
|
15055 West 87th Street Parkway
|
Lincroft, NJ
|
|
—
|
|
|
9
|
|
|
19,958
|
|
|
1,906
|
|
|
131
|
|
|
21,742
|
|
|
5,324
|
|
|
2013
|
|
2002
|
|
734 Newman Springs Road
|
Linwood, NJ
|
|
—
|
|
|
800
|
|
|
21,984
|
|
|
1,489
|
|
|
861
|
|
|
23,412
|
|
|
5,695
|
|
|
2010
|
|
1997
|
|
432 Central Ave
|
Litchfield, CT
|
|
—
|
|
|
1,240
|
|
|
17,908
|
|
|
11,640
|
|
|
1,272
|
|
|
29,516
|
|
|
5,671
|
|
|
2010
|
|
1998
|
|
19 Constitution Way
|
Little Neck, NY
|
|
—
|
|
|
3,350
|
|
|
38,461
|
|
|
3,016
|
|
|
3,358
|
|
|
41,469
|
|
|
9,556
|
|
|
2010
|
|
2000
|
|
5515 Little Neck Pkwy.
|
Livingston, NJ
|
|
—
|
|
|
8,000
|
|
|
44,424
|
|
|
919
|
|
|
8,017
|
|
|
45,326
|
|
|
3,595
|
|
|
2015
|
|
2017
|
|
369 E Mt Pleasant Avenue
|
Lombard, IL
|
|
17,010
|
|
|
2,130
|
|
|
59,943
|
|
|
1,755
|
|
|
2,218
|
|
|
61,610
|
|
|
14,083
|
|
|
2013
|
|
2009
|
|
2210 Fountain Square Dr
|
London, UK
|
|
—
|
|
|
3,121
|
|
|
10,027
|
|
|
1,988
|
|
|
3,370
|
|
|
11,766
|
|
|
1,952
|
|
|
2014
|
|
2012
|
|
71 Hatch Lane
|
London, UK
|
|
—
|
|
|
7,691
|
|
|
16,797
|
|
|
1,369
|
|
|
8,001
|
|
|
17,781
|
|
|
1,592
|
|
|
2015
|
|
2016
|
|
6 Victoria Drive
|
London, ON
|
|
—
|
|
|
987
|
|
|
8,228
|
|
|
1,204
|
|
|
1,084
|
|
|
9,335
|
|
|
1,829
|
|
|
2015
|
|
1989
|
|
760 Horizon Drive
|
London, ON
|
|
11,200
|
|
|
1,969
|
|
|
16,985
|
|
|
2,534
|
|
|
2,102
|
|
|
19,386
|
|
|
3,680
|
|
|
2015
|
|
1953
|
|
1486 Richmond Street North
|
London, ON
|
|
32
|
|
|
1,445
|
|
|
13,631
|
|
|
2,213
|
|
|
1,667
|
|
|
15,622
|
|
|
2,672
|
|
|
2015
|
|
1950
|
|
81 Grand Avenue
|
Longueuil, QC
|
|
9,155
|
|
|
3,992
|
|
|
23,711
|
|
|
4,584
|
|
|
4,340
|
|
|
27,947
|
|
|
5,201
|
|
|
2015
|
|
1989
|
|
70 Rue Levis
|
Lorain, OH
|
|
—
|
|
|
1,394
|
|
|
12,956
|
|
|
23
|
|
|
1,394
|
|
|
12,979
|
|
|
340
|
|
|
2019
|
|
2018
|
|
5401 North Pointe Pkwy
|
Los Angeles, CA
|
|
58,514
|
|
|
—
|
|
|
114,438
|
|
|
6,152
|
|
|
—
|
|
|
120,590
|
|
|
31,800
|
|
|
2011
|
|
2009
|
|
10475 Wilshire Boulevard
|
Los Angeles, CA
|
|
—
|
|
|
3,540
|
|
|
19,007
|
|
|
3,369
|
|
|
3,540
|
|
|
22,376
|
|
|
5,696
|
|
|
2012
|
|
2001
|
|
2051 N. Highland Avenue
|
Los Angeles, CA
|
|
—
|
|
|
—
|
|
|
28,050
|
|
|
5,879
|
|
|
71
|
|
|
33,858
|
|
|
4,310
|
|
|
2016
|
|
2006
|
|
4061 Grand View Boulevard
|
Louisville, KY
|
|
—
|
|
|
2,420
|
|
|
20,816
|
|
|
2,470
|
|
|
2,420
|
|
|
23,286
|
|
|
6,078
|
|
|
2012
|
|
1999
|
|
4600 Bowling Boulevard
|
Louisville, KY
|
|
13,650
|
|
|
1,600
|
|
|
20,326
|
|
|
1,044
|
|
|
1,600
|
|
|
21,370
|
|
|
5,524
|
|
|
2013
|
|
2010
|
|
6700 Overlook Drive
|
Louisville, CO
|
|
—
|
|
|
2,023
|
|
|
31,562
|
|
|
1,769
|
|
|
2,023
|
|
|
33,331
|
|
|
1,416
|
|
|
2019
|
|
2008
|
|
1336 E Hecla Drive
|
Louisville, CO
|
|
—
|
|
|
1,158
|
|
|
26,656
|
|
|
—
|
|
|
1,158
|
|
|
26,656
|
|
|
447
|
|
|
2019
|
|
2019
|
|
1800 Plaza Drive
|
Louisville, CO
|
|
—
|
|
|
2,672
|
|
|
50,972
|
|
|
6,311
|
|
|
2,672
|
|
|
57,283
|
|
|
2,492
|
|
|
2019
|
|
1999
|
|
1331 E Hecla Drive
|
Louisville, CO
|
|
—
|
|
|
1,480
|
|
|
15,546
|
|
|
682
|
|
|
1,480
|
|
|
16,228
|
|
|
881
|
|
|
2019
|
|
1999
|
|
282 McCaslin Blvd
|
Louisville, CO
|
|
—
|
|
|
2,567
|
|
|
42,712
|
|
|
2,681
|
|
|
2,567
|
|
|
45,393
|
|
|
1,811
|
|
|
2019
|
|
2004
|
|
1331 E Hecla Drive
|
Lynnfield, MA
|
|
—
|
|
|
3,165
|
|
|
45,200
|
|
|
2,707
|
|
|
3,736
|
|
|
47,336
|
|
|
11,558
|
|
|
2013
|
|
2006
|
|
55 Salem Street
|
Mahwah, NJ
|
|
—
|
|
|
1,605
|
|
|
27,249
|
|
|
913
|
|
|
1,606
|
|
|
28,161
|
|
|
3,280
|
|
|
2012
|
|
2015
|
|
15 Edison Road
|
Malvern, PA
|
|
—
|
|
|
1,651
|
|
|
17,194
|
|
|
2,421
|
|
|
1,800
|
|
|
19,466
|
|
|
6,072
|
|
|
2013
|
|
1998
|
|
324 Lancaster Avenue
|
Manteca, CA
|
|
—
|
|
|
1,300
|
|
|
12,125
|
|
|
2,947
|
|
|
1,312
|
|
|
15,060
|
|
|
5,908
|
|
|
2005
|
|
1986
|
|
430 N. Union Rd.
|
Maple Ridge, BC
|
|
8,331
|
|
|
2,875
|
|
|
11,922
|
|
|
5,974
|
|
|
3,097
|
|
|
17,674
|
|
|
1,858
|
|
|
2015
|
|
2009
|
|
12241 224th Street
|
Marieville, QC
|
|
6,335
|
|
|
1,278
|
|
|
12,113
|
|
|
1,088
|
|
|
1,385
|
|
|
13,094
|
|
|
2,154
|
|
|
2015
|
|
2002
|
|
425 rue Claude de Ramezay
|
Markham, ON
|
|
50,918
|
|
|
3,727
|
|
|
48,939
|
|
|
4,472
|
|
|
4,032
|
|
|
53,106
|
|
|
15,995
|
|
|
2013
|
|
1981
|
|
7700 Bayview Avenue
|
Marlboro, NJ
|
|
—
|
|
|
2,222
|
|
|
14,888
|
|
|
1,542
|
|
|
2,250
|
|
|
16,402
|
|
|
4,281
|
|
|
2013
|
|
2002
|
|
3A South Main Street
|
Marysville, WA
|
|
—
|
|
|
620
|
|
|
4,780
|
|
|
1,652
|
|
|
620
|
|
|
6,432
|
|
|
2,434
|
|
|
2003
|
|
1998
|
|
9802 48th Dr. N.E.
|
Medicine Hat, AB
|
|
10,438
|
|
|
1,432
|
|
|
14,141
|
|
|
998
|
|
|
1,541
|
|
|
15,030
|
|
|
3,491
|
|
|
2015
|
|
1999
|
|
223 Park Meadows Drive SE
|
Medina, OH
|
|
—
|
|
|
1,683
|
|
|
12,036
|
|
|
457
|
|
|
1,683
|
|
|
12,493
|
|
|
545
|
|
|
2019
|
|
2017
|
|
699 North Huntington St
|
Melbourne, FL
|
|
—
|
|
|
7,070
|
|
|
48,257
|
|
|
31,764
|
|
|
7,070
|
|
|
80,021
|
|
|
25,011
|
|
|
2007
|
|
2009
|
|
7300 Watersong Lane
|
Melville, NY
|
|
—
|
|
|
4,280
|
|
|
73,283
|
|
|
7,212
|
|
|
4,326
|
|
|
80,449
|
|
|
18,189
|
|
|
2010
|
|
2001
|
|
70 Pinelawn 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
|
|||||||
Seniors Housing Operating:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Memphis, TN
|
|
—
|
|
|
1,800
|
|
|
17,744
|
|
|
2,736
|
|
|
1,800
|
|
|
20,480
|
|
|
6,270
|
|
|
2012
|
|
1999
|
|
6605 Quail Hollow Road
|
Menomonee Falls, WI
|
|
—
|
|
|
1,020
|
|
|
6,984
|
|
|
2,256
|
|
|
1,020
|
|
|
9,240
|
|
|
2,550
|
|
|
2006
|
|
2007
|
|
W128 N6900 Northfield Drive
|
Mesa, AZ
|
|
—
|
|
|
950
|
|
|
9,087
|
|
|
2,881
|
|
|
950
|
|
|
11,968
|
|
|
5,472
|
|
|
1999
|
|
2000
|
|
7231 E. Broadway
|
Metairie, LA
|
|
14,200
|
|
|
725
|
|
|
27,708
|
|
|
948
|
|
|
725
|
|
|
28,656
|
|
|
6,367
|
|
|
2013
|
|
2009
|
|
3732 West Esplanade Ave. S
|
Mill Creek, WA
|
|
—
|
|
|
10,150
|
|
|
60,274
|
|
|
3,448
|
|
|
10,179
|
|
|
63,693
|
|
|
20,215
|
|
|
2010
|
|
1998
|
|
14905 Bothell-Everett Hwy
|
Milton, ON
|
|
19,890
|
|
|
4,542
|
|
|
25,321
|
|
|
3,668
|
|
|
4,882
|
|
|
28,649
|
|
|
4,305
|
|
|
2015
|
|
2012
|
|
611 Farmstead Drive
|
Minnetonka, MN
|
|
—
|
|
|
920
|
|
|
29,344
|
|
|
1,257
|
|
|
964
|
|
|
30,557
|
|
|
6,768
|
|
|
2013
|
|
2006
|
|
18605 Old Excelsior Blvd.
|
Mission Viejo, CA
|
|
13,570
|
|
|
6,600
|
|
|
52,118
|
|
|
8,447
|
|
|
6,600
|
|
|
60,565
|
|
|
9,097
|
|
|
2016
|
|
1998
|
|
27783 Center Drive
|
Mississauga, ON
|
|
8,491
|
|
|
1,602
|
|
|
17,996
|
|
|
1,803
|
|
|
1,711
|
|
|
19,690
|
|
|
4,855
|
|
|
2013
|
|
1984
|
|
1130 Bough Beeches Boulevard
|
Mississauga, ON
|
|
2,861
|
|
|
873
|
|
|
4,655
|
|
|
569
|
|
|
934
|
|
|
5,163
|
|
|
1,359
|
|
|
2013
|
|
1978
|
|
3051 Constitution Boulevard
|
Mississauga, ON
|
|
27,219
|
|
|
3,649
|
|
|
35,137
|
|
|
3,795
|
|
|
3,946
|
|
|
38,635
|
|
|
9,565
|
|
|
2015
|
|
1988
|
|
1490 Rathburn Road East
|
Mississauga, ON
|
|
6,066
|
|
|
2,548
|
|
|
15,158
|
|
|
2,904
|
|
|
2,724
|
|
|
17,886
|
|
|
3,821
|
|
|
2015
|
|
1989
|
|
85 King Street East
|
Missoula, MT
|
|
—
|
|
|
550
|
|
|
7,490
|
|
|
563
|
|
|
553
|
|
|
8,050
|
|
|
2,968
|
|
|
2005
|
|
1998
|
|
3620 American Way
|
Mobberley, UK
|
|
—
|
|
|
5,146
|
|
|
26,665
|
|
|
3,279
|
|
|
5,563
|
|
|
29,527
|
|
|
8,637
|
|
|
2013
|
|
2007
|
|
Barclay Park, Hall Lane
|
Monterey, CA
|
|
—
|
|
|
6,440
|
|
|
29,101
|
|
|
2,549
|
|
|
6,443
|
|
|
31,647
|
|
|
7,438
|
|
|
2013
|
|
2009
|
|
1110 Cass St.
|
Montgomery, MD
|
|
—
|
|
|
6,482
|
|
|
83,642
|
|
|
12,311
|
|
|
6,482
|
|
|
95,953
|
|
|
9,510
|
|
|
2018
|
|
1992
|
|
3701 International Dr
|
Montgomery Village, MD
|
|
—
|
|
|
3,530
|
|
|
18,246
|
|
|
7,214
|
|
|
4,291
|
|
|
24,699
|
|
|
10,011
|
|
|
2013
|
|
1993
|
|
19310 Club House Road
|
Montreal-Nord, QC
|
|
11,903
|
|
|
4,407
|
|
|
23,719
|
|
|
7,965
|
|
|
4,637
|
|
|
31,454
|
|
|
3,715
|
|
|
2018
|
|
1988
|
|
6700, boulevard Gouin Est
|
Moorestown, NJ
|
|
—
|
|
|
2,060
|
|
|
51,628
|
|
|
5,205
|
|
|
2,095
|
|
|
56,798
|
|
|
12,519
|
|
|
2010
|
|
2000
|
|
1205 N. Church St
|
Moose Jaw, SK
|
|
1,973
|
|
|
582
|
|
|
12,973
|
|
|
1,885
|
|
|
621
|
|
|
14,819
|
|
|
3,548
|
|
|
2013
|
|
2001
|
|
425 4th Avenue NW
|
Morton Grove, IL
|
|
—
|
|
|
1,900
|
|
|
19,374
|
|
|
864
|
|
|
1,900
|
|
|
20,238
|
|
|
4,284
|
|
|
2010
|
|
2011
|
|
5520 N. Lincoln Ave.
|
Murphy, TX
|
|
—
|
|
|
1,950
|
|
|
19,182
|
|
|
811
|
|
|
1,950
|
|
|
19,993
|
|
|
2,350
|
|
|
2015
|
|
2012
|
|
304 West FM 544
|
Naperville, IL
|
|
—
|
|
|
1,550
|
|
|
12,237
|
|
|
2,195
|
|
|
1,550
|
|
|
14,432
|
|
|
3,841
|
|
|
2012
|
|
2013
|
|
1936 Brookdale Road
|
Naperville, IL
|
|
—
|
|
|
1,540
|
|
|
28,204
|
|
|
1,435
|
|
|
1,593
|
|
|
29,586
|
|
|
7,300
|
|
|
2013
|
|
2002
|
|
535 West Ogden Avenue
|
Naples, FL
|
|
55,188
|
|
|
8,989
|
|
|
119,398
|
|
|
7,188
|
|
|
9,088
|
|
|
126,487
|
|
|
25,666
|
|
|
2015
|
|
2000
|
|
4800 Aston Gardens Way
|
Nashville, TN
|
|
—
|
|
|
3,900
|
|
|
35,788
|
|
|
3,911
|
|
|
3,900
|
|
|
39,699
|
|
|
11,568
|
|
|
2012
|
|
1999
|
|
4206 Stammer Place
|
Nepean, ON
|
|
5,491
|
|
|
1,575
|
|
|
5,770
|
|
|
1,110
|
|
|
1,697
|
|
|
6,758
|
|
|
1,716
|
|
|
2015
|
|
1988
|
|
1 Mill Hill Road
|
New Braunfels, TX
|
|
—
|
|
|
1,200
|
|
|
19,800
|
|
|
10,408
|
|
|
2,729
|
|
|
28,679
|
|
|
5,682
|
|
|
2011
|
|
2009
|
|
2294 East Common Street
|
Newbury, UK
|
|
—
|
|
|
2,850
|
|
|
12,796
|
|
|
1,498
|
|
|
3,065
|
|
|
14,079
|
|
|
1,239
|
|
|
2015
|
|
2016
|
|
370 London Road
|
Newmarket, UK
|
|
—
|
|
|
4,071
|
|
|
11,902
|
|
|
2,441
|
|
|
4,398
|
|
|
14,016
|
|
|
2,596
|
|
|
2014
|
|
2011
|
|
Jeddah Way
|
Newtown Square, PA
|
|
—
|
|
|
1,930
|
|
|
14,420
|
|
|
1,149
|
|
|
1,953
|
|
|
15,546
|
|
|
4,989
|
|
|
2013
|
|
2004
|
|
333 S. Newtown Street Rd.
|
North Tonawanda, NY
|
|
—
|
|
|
1,172
|
|
|
7,297
|
|
|
600
|
|
|
1,172
|
|
|
7,897
|
|
|
517
|
|
|
2019
|
|
2005
|
|
705 Sandra Lane
|
North Tustin, CA
|
|
—
|
|
|
2,880
|
|
|
18,059
|
|
|
933
|
|
|
3,044
|
|
|
18,828
|
|
|
4,067
|
|
|
2013
|
|
2000
|
|
12291 Newport Avenue
|
Oak Harbor, WA
|
|
—
|
|
|
739
|
|
|
7,667
|
|
|
448
|
|
|
739
|
|
|
8,115
|
|
|
669
|
|
|
2019
|
|
1998
|
|
171 SW 6th Ave
|
Oak Park, IL
|
|
—
|
|
|
1,250
|
|
|
40,383
|
|
|
2,640
|
|
|
1,250
|
|
|
43,023
|
|
|
10,749
|
|
|
2012
|
|
2004
|
|
1035 Madison Street
|
Oakdale, PA
|
|
—
|
|
|
1,865
|
|
|
11,925
|
|
|
880
|
|
|
1,865
|
|
|
12,805
|
|
|
724
|
|
|
2019
|
|
2017
|
|
7420 Steubenville Pike
|
Oakland, CA
|
|
—
|
|
|
3,877
|
|
|
47,508
|
|
|
3,465
|
|
|
4,114
|
|
|
50,736
|
|
|
12,439
|
|
|
2013
|
|
1999
|
|
11889 Skyline Boulevard
|
Oakton, VA
|
|
—
|
|
|
2,250
|
|
|
37,576
|
|
|
2,851
|
|
|
2,393
|
|
|
40,284
|
|
|
9,511
|
|
|
2013
|
|
1997
|
|
2863 Hunter Mill Road
|
Oakville, ON
|
|
5,618
|
|
|
1,252
|
|
|
7,382
|
|
|
922
|
|
|
1,346
|
|
|
8,210
|
|
|
2,113
|
|
|
2013
|
|
1982
|
|
289 and 299 Randall Street
|
Oakville, ON
|
|
9,189
|
|
|
2,134
|
|
|
29,963
|
|
|
3,314
|
|
|
2,280
|
|
|
33,131
|
|
|
8,518
|
|
|
2013
|
|
1994
|
|
25 Lakeshore Road West
|
Oakville, ON
|
|
4,812
|
|
|
1,271
|
|
|
13,754
|
|
|
1,646
|
|
|
1,361
|
|
|
15,310
|
|
|
3,474
|
|
|
2013
|
|
1988
|
|
345 Church Street
|
Ogden, UT
|
|
—
|
|
|
360
|
|
|
6,700
|
|
|
936
|
|
|
360
|
|
|
7,636
|
|
|
2,880
|
|
|
2004
|
|
1998
|
|
1340 N. Washington Blv.
|
Okotoks, AB
|
|
18,824
|
|
|
714
|
|
|
20,943
|
|
|
1,908
|
|
|
780
|
|
|
22,785
|
|
|
4,375
|
|
|
2015
|
|
2010
|
|
51 Riverside Gate
|
(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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Orange, CA
|
|
36,000
|
|
|
8,021
|
|
|
65,234
|
|
|
3,238
|
|
|
8,021
|
|
|
68,472
|
|
|
—
|
|
|
2019
|
|
2018
|
|
630 The City Drive South
|
Oshawa, ON
|
|
6,698
|
|
|
841
|
|
|
7,570
|
|
|
985
|
|
|
957
|
|
|
8,439
|
|
|
2,167
|
|
|
2013
|
|
1991
|
|
649 King Street East
|
Ottawa, ON
|
|
9,668
|
|
|
1,341
|
|
|
15,425
|
|
|
2,720
|
|
|
1,469
|
|
|
18,017
|
|
|
2,719
|
|
|
2015
|
|
2001
|
|
110 Berrigan Drive
|
Ottawa, ON
|
|
18,152
|
|
|
3,454
|
|
|
23,309
|
|
|
3,181
|
|
|
3,760
|
|
|
26,184
|
|
|
7,627
|
|
|
2015
|
|
1966
|
|
2370 Carling Avenue
|
Ottawa, ON
|
|
20,738
|
|
|
4,256
|
|
|
39,141
|
|
|
2,962
|
|
|
4,477
|
|
|
41,882
|
|
|
7,129
|
|
|
2015
|
|
2005
|
|
751 Peter Morand Crescent
|
Ottawa, ON
|
|
7,212
|
|
|
2,103
|
|
|
18,421
|
|
|
4,969
|
|
|
2,294
|
|
|
23,199
|
|
|
3,852
|
|
|
2015
|
|
1989
|
|
1 Eaton Street
|
Ottawa, ON
|
|
13,711
|
|
|
2,963
|
|
|
26,424
|
|
|
3,754
|
|
|
3,196
|
|
|
29,945
|
|
|
4,611
|
|
|
2015
|
|
2008
|
|
691 Valin Street
|
Ottawa, ON
|
|
10,377
|
|
|
1,561
|
|
|
18,170
|
|
|
2,828
|
|
|
1,751
|
|
|
20,808
|
|
|
3,069
|
|
|
2015
|
|
2006
|
|
22 Barnstone Drive
|
Ottawa, ON
|
|
13,702
|
|
|
3,663
|
|
|
30,633
|
|
|
—
|
|
|
3,663
|
|
|
30,633
|
|
|
5,208
|
|
|
2015
|
|
2009
|
|
990 Hunt Club Road
|
Ottawa, ON
|
|
17,456
|
|
|
3,411
|
|
|
28,335
|
|
|
6,228
|
|
|
3,684
|
|
|
34,290
|
|
|
6,357
|
|
|
2015
|
|
2009
|
|
2 Valley Stream Drive
|
Ottawa, ON
|
|
2,809
|
|
|
724
|
|
|
4,710
|
|
|
623
|
|
|
774
|
|
|
5,283
|
|
|
1,375
|
|
|
2013
|
|
1995
|
|
1345 Ogilvie Road
|
Ottawa, ON
|
|
2,044
|
|
|
818
|
|
|
2,165
|
|
|
1,484
|
|
|
727
|
|
|
3,740
|
|
|
1,040
|
|
|
2013
|
|
1993
|
|
370 Kennedy Lane
|
Ottawa, ON
|
|
9,559
|
|
|
2,809
|
|
|
27,299
|
|
|
3,021
|
|
|
3,020
|
|
|
30,109
|
|
|
8,289
|
|
|
2013
|
|
1998
|
|
43 Aylmer Avenue
|
Ottawa, ON
|
|
4,517
|
|
|
1,156
|
|
|
9,758
|
|
|
1,129
|
|
|
1,290
|
|
|
10,753
|
|
|
2,564
|
|
|
2013
|
|
1998
|
|
1351 Hunt Club Road
|
Ottawa, ON
|
|
5,876
|
|
|
746
|
|
|
7,800
|
|
|
1,142
|
|
|
803
|
|
|
8,885
|
|
|
2,129
|
|
|
2013
|
|
1999
|
|
140 Darlington Private
|
Ottawa, ON
|
|
8,898
|
|
|
1,176
|
|
|
12,764
|
|
|
1,663
|
|
|
1,298
|
|
|
14,305
|
|
|
2,340
|
|
|
2015
|
|
1987
|
|
10 Vaughan Street
|
Outremont, QC
|
|
17,866
|
|
|
6,746
|
|
|
45,981
|
|
|
11,155
|
|
|
7,098
|
|
|
56,784
|
|
|
6,385
|
|
|
2018
|
|
1976
|
|
1000, avenue Rockland
|
Overland Park, KS
|
|
—
|
|
|
1,540
|
|
|
16,269
|
|
|
1,663
|
|
|
1,670
|
|
|
17,802
|
|
|
3,918
|
|
|
2012
|
|
1998
|
|
9201 Foster
|
Palo Alto, CA
|
|
25,050
|
|
|
—
|
|
|
39,639
|
|
|
3,072
|
|
|
24
|
|
|
42,687
|
|
|
10,156
|
|
|
2013
|
|
2007
|
|
2701 El Camino Real
|
Paramus, NJ
|
|
—
|
|
|
2,840
|
|
|
35,728
|
|
|
1,855
|
|
|
2,986
|
|
|
37,437
|
|
|
8,755
|
|
|
2013
|
|
1998
|
|
567 Paramus Road
|
Parkland, FL
|
|
54,784
|
|
|
4,880
|
|
|
111,481
|
|
|
5,181
|
|
|
4,904
|
|
|
116,638
|
|
|
23,531
|
|
|
2015
|
|
2000
|
|
5999 University Drive
|
Parma, OH
|
|
—
|
|
|
1,533
|
|
|
9,185
|
|
|
701
|
|
|
1,533
|
|
|
9,886
|
|
|
631
|
|
|
2019
|
|
2016
|
|
11500 Huffman Road
|
Paso Robles, CA
|
|
—
|
|
|
1,770
|
|
|
8,630
|
|
|
1,379
|
|
|
1,770
|
|
|
10,009
|
|
|
4,288
|
|
|
2002
|
|
1998
|
|
1919 Creston Rd.
|
Peabody, MA
|
|
5,892
|
|
|
2,250
|
|
|
16,071
|
|
|
1,250
|
|
|
2,380
|
|
|
17,191
|
|
|
3,328
|
|
|
2013
|
|
1994
|
|
73 Margin Street
|
Pella, IA
|
|
—
|
|
|
870
|
|
|
6,716
|
|
|
63
|
|
|
870
|
|
|
6,779
|
|
|
1,218
|
|
|
2012
|
|
2002
|
|
2602 Fifield Road
|
Pembroke, ON
|
|
—
|
|
|
1,931
|
|
|
9,427
|
|
|
1,082
|
|
|
2,000
|
|
|
10,440
|
|
|
2,485
|
|
|
2012
|
|
1999
|
|
1111 Pembroke Street West
|
Pennington, NJ
|
|
—
|
|
|
1,380
|
|
|
27,620
|
|
|
1,418
|
|
|
1,507
|
|
|
28,911
|
|
|
6,386
|
|
|
2011
|
|
2000
|
|
143 West Franklin Avenue
|
Peoria, AZ
|
|
—
|
|
|
766
|
|
|
21,796
|
|
|
1,468
|
|
|
766
|
|
|
23,264
|
|
|
2,628
|
|
|
2018
|
|
2014
|
|
13391 N 94th Drive
|
Pittsburgh, PA
|
|
—
|
|
|
1,580
|
|
|
18,017
|
|
|
1,143
|
|
|
1,587
|
|
|
19,153
|
|
|
5,010
|
|
|
2013
|
|
2009
|
|
900 Lincoln Club Dr.
|
Placentia, CA
|
|
—
|
|
|
8,480
|
|
|
17,076
|
|
|
5,896
|
|
|
8,513
|
|
|
22,939
|
|
|
4,445
|
|
|
2016
|
|
1987
|
|
1180 N Bradford Avenue
|
Plainview, NY
|
|
—
|
|
|
3,066
|
|
|
19,901
|
|
|
1,211
|
|
|
3,182
|
|
|
20,996
|
|
|
4,693
|
|
|
2013
|
|
2001
|
|
1231 Old Country Road
|
Plano, TX
|
|
28,960
|
|
|
3,120
|
|
|
59,950
|
|
|
3,806
|
|
|
3,227
|
|
|
63,649
|
|
|
18,286
|
|
|
2013
|
|
2006
|
|
4800 West Parker Road
|
Plano, TX
|
|
—
|
|
|
1,750
|
|
|
15,390
|
|
|
1,505
|
|
|
1,750
|
|
|
16,895
|
|
|
1,660
|
|
|
2016
|
|
2014
|
|
3690 Mapleshade Lane
|
Playa Vista, CA
|
|
—
|
|
|
1,580
|
|
|
40,531
|
|
|
3,084
|
|
|
1,605
|
|
|
43,590
|
|
|
10,040
|
|
|
2013
|
|
2006
|
|
5555 Playa Vista Drive
|
Pleasanton, CA
|
|
—
|
|
|
—
|
|
|
—
|
|
|
52,166
|
|
|
3,676
|
|
|
48,490
|
|
|
1,289
|
|
|
2016
|
|
2017
|
|
5700 Pleasant Hill Road
|
Port Perry, ON
|
|
12,123
|
|
|
3,685
|
|
|
26,788
|
|
|
4,160
|
|
|
3,932
|
|
|
30,701
|
|
|
4,569
|
|
|
2015
|
|
2009
|
|
15987 Simcoe Street
|
Port St. Lucie, FL
|
|
—
|
|
|
8,700
|
|
|
47,230
|
|
|
20,937
|
|
|
8,700
|
|
|
68,167
|
|
|
19,243
|
|
|
2008
|
|
2010
|
|
10685 SW Stony Creek Way
|
Portage, MI
|
|
42,000
|
|
|
2,857
|
|
|
59,848
|
|
|
2,569
|
|
|
2,857
|
|
|
62,417
|
|
|
3,653
|
|
|
2019
|
|
2017
|
|
3951 W. Milham Ave.
|
Princeton, NJ
|
|
—
|
|
|
1,730
|
|
|
30,888
|
|
|
2,236
|
|
|
1,814
|
|
|
33,040
|
|
|
7,486
|
|
|
2011
|
|
2001
|
|
155 Raymond Road
|
Purley, UK
|
|
—
|
|
|
7,365
|
|
|
35,161
|
|
|
4,079
|
|
|
7,982
|
|
|
38,623
|
|
|
10,333
|
|
|
2012
|
|
2005
|
|
21 Russell Hill Road
|
Puyallup, WA
|
|
—
|
|
|
1,150
|
|
|
20,776
|
|
|
1,494
|
|
|
1,156
|
|
|
22,264
|
|
|
6,346
|
|
|
2010
|
|
1985
|
|
123 Fourth Ave. NW
|
Quebec City, QC
|
|
8,325
|
|
|
2,420
|
|
|
21,977
|
|
|
3,662
|
|
|
2,546
|
|
|
25,513
|
|
|
2,956
|
|
|
2018
|
|
2000
|
|
795, rue Alain
|
Quebec City, QC
|
|
12,294
|
|
|
3,300
|
|
|
28,325
|
|
|
5,172
|
|
|
3,472
|
|
|
33,325
|
|
|
3,740
|
|
|
2018
|
|
1987
|
|
650 and 700, avenue Murray
|
(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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Queensbury, NY
|
|
—
|
|
|
1,260
|
|
|
21,744
|
|
|
577
|
|
|
1,273
|
|
|
22,308
|
|
|
3,213
|
|
|
2015
|
|
1999
|
|
27 Woodvale Road
|
Rancho Cucamonga, CA
|
|
—
|
|
|
1,480
|
|
|
10,055
|
|
|
2,144
|
|
|
2,084
|
|
|
11,595
|
|
|
3,388
|
|
|
2013
|
|
2001
|
|
9519 Baseline Road
|
Rancho Palos Verdes, CA
|
|
—
|
|
|
5,450
|
|
|
60,034
|
|
|
3,646
|
|
|
5,450
|
|
|
63,680
|
|
|
16,003
|
|
|
2012
|
|
2004
|
|
5701 Crestridge Road
|
Randolph, NJ
|
|
29,300
|
|
|
1,540
|
|
|
46,934
|
|
|
2,370
|
|
|
1,718
|
|
|
49,126
|
|
|
11,141
|
|
|
2013
|
|
2006
|
|
648 Route 10 West
|
Red Deer, AB
|
|
12,551
|
|
|
1,247
|
|
|
19,283
|
|
|
2,099
|
|
|
1,339
|
|
|
21,290
|
|
|
3,727
|
|
|
2015
|
|
2004
|
|
3100 - 22 Street
|
Red Deer, AB
|
|
14,770
|
|
|
1,199
|
|
|
22,339
|
|
|
2,201
|
|
|
1,282
|
|
|
24,457
|
|
|
4,460
|
|
|
2015
|
|
2004
|
|
10 Inglewood Drive
|
Redding, CA
|
|
26,887
|
|
|
4,474
|
|
|
36,857
|
|
|
2,161
|
|
|
4,474
|
|
|
39,018
|
|
|
—
|
|
|
2019
|
|
2017
|
|
2150 Bechelli Lane
|
Regina, SK
|
|
6,218
|
|
|
1,485
|
|
|
21,148
|
|
|
2,096
|
|
|
1,678
|
|
|
23,051
|
|
|
6,144
|
|
|
2013
|
|
1999
|
|
3651 Albert Street
|
Regina, SK
|
|
6,204
|
|
|
1,244
|
|
|
21,036
|
|
|
1,989
|
|
|
1,333
|
|
|
22,936
|
|
|
5,411
|
|
|
2013
|
|
2004
|
|
3105 Hillsdale Street
|
Regina, SK
|
|
15,477
|
|
|
1,539
|
|
|
24,053
|
|
|
4,685
|
|
|
1,663
|
|
|
28,614
|
|
|
4,673
|
|
|
2015
|
|
1992
|
|
1801 McIntyre Street
|
Rehoboth Beach, DE
|
|
—
|
|
|
960
|
|
|
24,248
|
|
|
9,200
|
|
|
993
|
|
|
33,415
|
|
|
6,994
|
|
|
2010
|
|
1999
|
|
36101 Seaside Blvd
|
Reno, NV
|
|
—
|
|
|
1,060
|
|
|
11,440
|
|
|
930
|
|
|
1,060
|
|
|
12,370
|
|
|
4,762
|
|
|
2004
|
|
1998
|
|
5165 Summit Ridge Court
|
Ridgeland, MS
|
|
—
|
|
|
520
|
|
|
7,675
|
|
|
901
|
|
|
520
|
|
|
8,576
|
|
|
3,384
|
|
|
2003
|
|
1997
|
|
410 Orchard Park
|
Riviere-du-Loup, QC
|
|
2,854
|
|
|
592
|
|
|
7,601
|
|
|
1,820
|
|
|
665
|
|
|
9,348
|
|
|
1,574
|
|
|
2015
|
|
1956
|
|
35 des Cedres
|
Riviere-du-Loup, QC
|
|
12,164
|
|
|
1,454
|
|
|
16,848
|
|
|
5,339
|
|
|
1,812
|
|
|
21,829
|
|
|
4,316
|
|
|
2015
|
|
1993
|
|
230-235 rue Des Chenes
|
Rocky Hill, CT
|
|
—
|
|
|
1,090
|
|
|
6,710
|
|
|
1,752
|
|
|
1,090
|
|
|
8,462
|
|
|
3,291
|
|
|
2003
|
|
1996
|
|
60 Cold Spring Rd.
|
Rohnert Park, CA
|
|
—
|
|
|
6,500
|
|
|
18,700
|
|
|
3,756
|
|
|
6,546
|
|
|
22,410
|
|
|
8,277
|
|
|
2005
|
|
1986
|
|
4855 Snyder Lane
|
Romeoville, IL
|
|
—
|
|
|
854
|
|
|
12,646
|
|
|
61,722
|
|
|
6,197
|
|
|
69,025
|
|
|
18,583
|
|
|
2006
|
|
2010
|
|
605 S Edward Dr.
|
Roseville, MN
|
|
—
|
|
|
1,540
|
|
|
35,877
|
|
|
1,252
|
|
|
1,628
|
|
|
37,041
|
|
|
8,190
|
|
|
2013
|
|
2002
|
|
2555 Snelling Avenue, North
|
Roseville, CA
|
|
—
|
|
|
3,300
|
|
|
41,652
|
|
|
6,832
|
|
|
3,300
|
|
|
48,484
|
|
|
7,624
|
|
|
2016
|
|
2000
|
|
5161 Foothills Boulevard
|
Roswell, GA
|
|
—
|
|
|
1,107
|
|
|
9,627
|
|
|
1,876
|
|
|
1,114
|
|
|
11,496
|
|
|
8,369
|
|
|
1997
|
|
1999
|
|
655 Mansell Rd.
|
Roswell, GA
|
|
—
|
|
|
2,080
|
|
|
6,486
|
|
|
1,686
|
|
|
2,380
|
|
|
7,872
|
|
|
1,913
|
|
|
2012
|
|
1997
|
|
75 Magnolia Street
|
Sabre Springs, CA
|
|
—
|
|
|
—
|
|
|
—
|
|
|
47,090
|
|
|
3,726
|
|
|
43,364
|
|
|
1,047
|
|
|
2016
|
|
2017
|
|
12515 Springhurst Drive
|
Sacramento, CA
|
|
—
|
|
|
940
|
|
|
14,781
|
|
|
612
|
|
|
952
|
|
|
15,381
|
|
|
4,492
|
|
|
2010
|
|
1978
|
|
6350 Riverside Blvd
|
Sacramento, CA
|
|
—
|
|
|
1,300
|
|
|
23,394
|
|
|
1,556
|
|
|
1,369
|
|
|
24,881
|
|
|
5,802
|
|
|
2013
|
|
2004
|
|
345 Munroe Street
|
Saint-Lambert, QC
|
|
34,002
|
|
|
10,259
|
|
|
61,903
|
|
|
3,868
|
|
|
11,054
|
|
|
64,976
|
|
|
15,584
|
|
|
2015
|
|
1989
|
|
1705 Avenue Victoria
|
Salinas, CA
|
|
—
|
|
|
5,110
|
|
|
41,424
|
|
|
9,387
|
|
|
5,150
|
|
|
50,771
|
|
|
8,906
|
|
|
2016
|
|
1990
|
|
1320 Padre Drive
|
Salisbury, UK
|
|
—
|
|
|
2,720
|
|
|
15,269
|
|
|
1,676
|
|
|
2,926
|
|
|
16,739
|
|
|
2,579
|
|
|
2014
|
|
2013
|
|
Shapland Close
|
Salt Lake City, UT
|
|
—
|
|
|
1,360
|
|
|
19,691
|
|
|
779
|
|
|
1,360
|
|
|
20,470
|
|
|
6,592
|
|
|
2011
|
|
1986
|
|
1430 E. 4500 S.
|
San Antonio, TX
|
|
—
|
|
|
6,120
|
|
|
28,169
|
|
|
2,630
|
|
|
6,120
|
|
|
30,799
|
|
|
6,947
|
|
|
2010
|
|
2011
|
|
2702 Cembalo Blvd
|
San Antonio, TX
|
|
—
|
|
|
5,045
|
|
|
58,048
|
|
|
3,253
|
|
|
5,045
|
|
|
61,301
|
|
|
5,962
|
|
|
2017
|
|
2015
|
|
11300 Wild Pine
|
San Antonio, TX
|
|
—
|
|
|
11,683
|
|
|
69,623
|
|
|
3,634
|
|
|
11,683
|
|
|
73,257
|
|
|
2,722
|
|
|
2019
|
|
2016
|
|
6870 Heuermann Road
|
San Diego, CA
|
|
—
|
|
|
5,810
|
|
|
63,078
|
|
|
3,968
|
|
|
5,810
|
|
|
67,046
|
|
|
18,976
|
|
|
2012
|
|
2001
|
|
13075 Evening Creek Drive S
|
San Diego, CA
|
|
—
|
|
|
3,000
|
|
|
27,164
|
|
|
1,521
|
|
|
3,016
|
|
|
28,669
|
|
|
6,231
|
|
|
2013
|
|
2003
|
|
810 Turquoise Street
|
San Diego, CA
|
|
29,843
|
|
|
4,179
|
|
|
40,639
|
|
|
1,920
|
|
|
4,179
|
|
|
42,559
|
|
|
—
|
|
|
2019
|
|
2017
|
|
955 Grand Ave
|
San Francisco, CA
|
|
—
|
|
|
5,920
|
|
|
91,639
|
|
|
13,564
|
|
|
5,920
|
|
|
105,203
|
|
|
17,446
|
|
|
2016
|
|
1998
|
|
1550 Sutter Street
|
San Francisco, CA
|
|
—
|
|
|
11,800
|
|
|
77,214
|
|
|
10,401
|
|
|
11,800
|
|
|
87,615
|
|
|
14,542
|
|
|
2016
|
|
1923
|
|
1601 19th Avenue
|
San Gabriel, CA
|
|
—
|
|
|
3,120
|
|
|
15,566
|
|
|
1,135
|
|
|
3,165
|
|
|
16,656
|
|
|
4,208
|
|
|
2013
|
|
2005
|
|
8332 Huntington Drive
|
San Jose, CA
|
|
—
|
|
|
3,280
|
|
|
46,823
|
|
|
3,925
|
|
|
3,280
|
|
|
50,748
|
|
|
12,727
|
|
|
2012
|
|
2002
|
|
500 S Winchester Boulevard
|
San Jose, CA
|
|
—
|
|
|
11,900
|
|
|
27,647
|
|
|
5,198
|
|
|
11,966
|
|
|
32,779
|
|
|
5,773
|
|
|
2016
|
|
2002
|
|
4855 San Felipe Road
|
San Rafael, CA
|
|
—
|
|
|
1,620
|
|
|
27,392
|
|
|
3,964
|
|
|
1,854
|
|
|
31,122
|
|
|
4,342
|
|
|
2016
|
|
2001
|
|
111 Merrydale Road
|
San Ramon, CA
|
|
—
|
|
|
8,700
|
|
|
72,223
|
|
|
9,954
|
|
|
8,716
|
|
|
82,161
|
|
|
13,500
|
|
|
2016
|
|
1992
|
|
9199 Fircrest Lane
|
Sandy Springs, GA
|
|
—
|
|
|
2,214
|
|
|
8,360
|
|
|
1,454
|
|
|
2,220
|
|
|
9,808
|
|
|
3,133
|
|
|
2012
|
|
1997
|
|
5455 Glenridge Drive NE
|
(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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Santa Monica, CA
|
|
15,820
|
|
|
5,250
|
|
|
28,340
|
|
|
1,091
|
|
|
5,266
|
|
|
29,415
|
|
|
6,912
|
|
|
2013
|
|
2004
|
|
1312 15th Street
|
Santa Rosa, CA
|
|
—
|
|
|
2,250
|
|
|
26,273
|
|
|
3,525
|
|
|
2,292
|
|
|
29,756
|
|
|
4,508
|
|
|
2016
|
|
2001
|
|
4225 Wayvern Drive
|
Saskatoon, SK
|
|
3,836
|
|
|
981
|
|
|
13,905
|
|
|
1,407
|
|
|
1,047
|
|
|
15,246
|
|
|
3,431
|
|
|
2013
|
|
1999
|
|
220 24th Street East
|
Saskatoon, SK
|
|
13,372
|
|
|
1,382
|
|
|
17,609
|
|
|
1,763
|
|
|
1,476
|
|
|
19,278
|
|
|
4,307
|
|
|
2013
|
|
2004
|
|
1622 Acadia Drive
|
Schaumburg, IL
|
|
—
|
|
|
2,460
|
|
|
22,863
|
|
|
1,277
|
|
|
2,497
|
|
|
24,103
|
|
|
6,501
|
|
|
2013
|
|
2001
|
|
790 North Plum Grove Road
|
Scottsdale, AZ
|
|
—
|
|
|
2,500
|
|
|
3,890
|
|
|
1,476
|
|
|
2,500
|
|
|
5,366
|
|
|
1,458
|
|
|
2008
|
|
1998
|
|
9410 East Thunderbird Road
|
Scranton, PA
|
|
—
|
|
|
875
|
|
|
10,504
|
|
|
695
|
|
|
875
|
|
|
11,199
|
|
|
666
|
|
|
2019
|
|
2014
|
|
1651 Dickson Avenue
|
Seal Beach, CA
|
|
—
|
|
|
6,204
|
|
|
72,954
|
|
|
2,876
|
|
|
6,271
|
|
|
75,763
|
|
|
21,133
|
|
|
2013
|
|
2004
|
|
3850 Lampson Avenue
|
Seattle, WA
|
|
—
|
|
|
5,190
|
|
|
9,350
|
|
|
1,726
|
|
|
5,199
|
|
|
11,067
|
|
|
3,888
|
|
|
2010
|
|
1962
|
|
11501 15th Ave NE
|
Seattle, WA
|
|
27,180
|
|
|
10,670
|
|
|
37,291
|
|
|
1,618
|
|
|
10,700
|
|
|
38,879
|
|
|
13,281
|
|
|
2010
|
|
2005
|
|
805 4th Ave N
|
Seattle, WA
|
|
—
|
|
|
1,150
|
|
|
19,887
|
|
|
2,737
|
|
|
1,153
|
|
|
22,621
|
|
|
3,336
|
|
|
2015
|
|
1995
|
|
11039 17th Avenue
|
Selbyville, DE
|
|
—
|
|
|
750
|
|
|
25,912
|
|
|
867
|
|
|
769
|
|
|
26,760
|
|
|
6,298
|
|
|
2010
|
|
2008
|
|
21111 Arrington Dr
|
Sevenoaks, UK
|
|
—
|
|
|
6,181
|
|
|
40,240
|
|
|
6,340
|
|
|
6,648
|
|
|
46,113
|
|
|
12,282
|
|
|
2012
|
|
2009
|
|
64 - 70 Westerham Road
|
Severna Park, MD
|
|
—
|
|
|
—
|
|
|
67,623
|
|
|
5,944
|
|
|
38
|
|
|
73,529
|
|
|
10,854
|
|
|
2016
|
|
1997
|
|
43 W McKinsey Road
|
Shelby Township, MI
|
|
13,180
|
|
|
1,040
|
|
|
26,344
|
|
|
1,438
|
|
|
1,110
|
|
|
27,712
|
|
|
6,384
|
|
|
2013
|
|
2006
|
|
46471 Hayes Road
|
Shrewsbury, NJ
|
|
—
|
|
|
2,120
|
|
|
38,116
|
|
|
2,333
|
|
|
2,148
|
|
|
40,421
|
|
|
9,371
|
|
|
2010
|
|
2000
|
|
5 Meridian Way
|
Sidcup, UK
|
|
—
|
|
|
7,446
|
|
|
56,570
|
|
|
6,330
|
|
|
8,030
|
|
|
62,316
|
|
|
17,441
|
|
|
2012
|
|
2000
|
|
Frognal Avenue
|
Silver Spring, MD
|
|
—
|
|
|
—
|
|
|
—
|
|
|
64,540
|
|
|
3,436
|
|
|
61,104
|
|
|
1,466
|
|
|
2016
|
|
2018
|
|
2201 Colston Drive
|
Simi Valley, CA
|
|
—
|
|
|
3,200
|
|
|
16,664
|
|
|
1,889
|
|
|
3,298
|
|
|
18,455
|
|
|
5,390
|
|
|
2013
|
|
2009
|
|
190 Tierra Rejada Road
|
Simi Valley, CA
|
|
—
|
|
|
5,510
|
|
|
51,406
|
|
|
8,426
|
|
|
5,510
|
|
|
59,832
|
|
|
10,275
|
|
|
2016
|
|
2003
|
|
5300 E Los Angeles Avenue
|
Solihull, UK
|
|
—
|
|
|
5,070
|
|
|
43,297
|
|
|
6,660
|
|
|
5,453
|
|
|
49,574
|
|
|
12,641
|
|
|
2012
|
|
2009
|
|
1270 Warwick Road
|
Solihull, UK
|
|
—
|
|
|
3,571
|
|
|
26,053
|
|
|
2,969
|
|
|
3,894
|
|
|
28,699
|
|
|
7,375
|
|
|
2013
|
|
2007
|
|
1 Worcester Way
|
Solihull, UK
|
|
—
|
|
|
1,851
|
|
|
10,585
|
|
|
1,421
|
|
|
1,990
|
|
|
11,867
|
|
|
1,153
|
|
|
2015
|
|
2016
|
|
Warwick Road
|
Sonning, UK
|
|
—
|
|
|
5,644
|
|
|
42,155
|
|
|
4,828
|
|
|
6,100
|
|
|
46,527
|
|
|
11,020
|
|
|
2013
|
|
2009
|
|
Old Bath Rd.
|
Sonoma, CA
|
|
—
|
|
|
1,100
|
|
|
18,400
|
|
|
3,764
|
|
|
1,109
|
|
|
22,155
|
|
|
7,932
|
|
|
2005
|
|
1988
|
|
800 Oregon St.
|
Sonoma, CA
|
|
—
|
|
|
2,820
|
|
|
21,890
|
|
|
3,158
|
|
|
2,827
|
|
|
25,041
|
|
|
3,787
|
|
|
2016
|
|
2005
|
|
91 Napa Road
|
Southlake, TX
|
|
—
|
|
|
6,207
|
|
|
56,675
|
|
|
7,624
|
|
|
6,207
|
|
|
64,299
|
|
|
3,184
|
|
|
2019
|
|
2008
|
|
101 Watermere Drive
|
Spokane, WA
|
|
—
|
|
|
3,200
|
|
|
25,064
|
|
|
1,019
|
|
|
3,200
|
|
|
26,083
|
|
|
7,538
|
|
|
2013
|
|
2001
|
|
3117 E. Chaser Lane
|
Spokane, WA
|
|
—
|
|
|
2,580
|
|
|
25,342
|
|
|
382
|
|
|
2,580
|
|
|
25,724
|
|
|
6,597
|
|
|
2013
|
|
1999
|
|
1110 E. Westview Ct.
|
St. Albert, AB
|
|
9,894
|
|
|
1,145
|
|
|
17,863
|
|
|
3,192
|
|
|
1,247
|
|
|
20,953
|
|
|
5,779
|
|
|
2014
|
|
2005
|
|
78C McKenney Avenue
|
St. John's, NL
|
|
5,449
|
|
|
706
|
|
|
11,765
|
|
|
829
|
|
|
748
|
|
|
12,552
|
|
|
2,009
|
|
|
2015
|
|
2005
|
|
64 Portugal Cove Road
|
Stittsville, ON
|
|
4,227
|
|
|
1,175
|
|
|
17,397
|
|
|
1,884
|
|
|
1,263
|
|
|
19,193
|
|
|
4,306
|
|
|
2013
|
|
1996
|
|
1340 - 1354 Main Street
|
Stockport, UK
|
|
—
|
|
|
4,369
|
|
|
25,018
|
|
|
2,864
|
|
|
4,720
|
|
|
27,531
|
|
|
7,480
|
|
|
2013
|
|
2008
|
|
1 Dairyground Road
|
Stockton, CA
|
|
—
|
|
|
2,280
|
|
|
5,983
|
|
|
1,214
|
|
|
2,372
|
|
|
7,105
|
|
|
2,223
|
|
|
2010
|
|
1988
|
|
6725 Inglewood
|
Strongsville, OH
|
|
—
|
|
|
1,113
|
|
|
10,882
|
|
|
656
|
|
|
1,113
|
|
|
11,538
|
|
|
651
|
|
|
2019
|
|
2017
|
|
15100 Howe Road
|
Stuart, FL
|
|
—
|
|
|
5,276
|
|
|
23,796
|
|
|
730
|
|
|
5,276
|
|
|
24,526
|
|
|
223
|
|
|
2019
|
|
2019
|
|
2625 SE Cove Road
|
Studio City, CA
|
|
—
|
|
|
4,006
|
|
|
25,307
|
|
|
1,360
|
|
|
4,115
|
|
|
26,558
|
|
|
7,094
|
|
|
2013
|
|
2004
|
|
4610 Coldwater Canyon Avenue
|
Suffield, CT
|
|
—
|
|
|
4,409
|
|
|
27,694
|
|
|
2,392
|
|
|
4,409
|
|
|
30,086
|
|
|
826
|
|
|
2019
|
|
1998
|
|
7 Canal Road
|
Sugar Land, TX
|
|
—
|
|
|
960
|
|
|
31,423
|
|
|
999
|
|
|
960
|
|
|
32,422
|
|
|
8,673
|
|
|
2011
|
|
1996
|
|
1221 Seventh St
|
Sugar Land, TX
|
|
—
|
|
|
4,272
|
|
|
60,493
|
|
|
6,540
|
|
|
4,272
|
|
|
67,033
|
|
|
8,760
|
|
|
2017
|
|
2015
|
|
744 Brooks Street
|
Sun City, FL
|
|
20,609
|
|
|
6,521
|
|
|
48,476
|
|
|
6,439
|
|
|
6,648
|
|
|
54,788
|
|
|
13,348
|
|
|
2015
|
|
1995
|
|
231 Courtyards
|
Sun City, FL
|
|
23,220
|
|
|
5,040
|
|
|
50,923
|
|
|
5,782
|
|
|
5,388
|
|
|
56,357
|
|
|
12,170
|
|
|
2015
|
|
1999
|
|
1311 Aston Gardens Court
|
Sun City West, AZ
|
|
—
|
|
|
1,250
|
|
|
21,778
|
|
|
1,162
|
|
|
1,250
|
|
|
22,940
|
|
|
5,012
|
|
|
2012
|
|
1998
|
|
13810 West Sandridge 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Sunnyvale, CA
|
|
—
|
|
|
5,420
|
|
|
41,682
|
|
|
2,715
|
|
|
5,420
|
|
|
44,397
|
|
|
11,522
|
|
|
2012
|
|
2002
|
|
1039 East El Camino Real
|
Surrey, BC
|
|
6,316
|
|
|
3,605
|
|
|
18,818
|
|
|
2,466
|
|
|
3,849
|
|
|
21,040
|
|
|
6,563
|
|
|
2013
|
|
2000
|
|
16028 83rd Avenue
|
Surrey, BC
|
|
15,386
|
|
|
4,552
|
|
|
22,338
|
|
|
2,939
|
|
|
4,905
|
|
|
24,924
|
|
|
8,226
|
|
|
2013
|
|
1987
|
|
15501 16th Avenue
|
Sutton, UK
|
|
—
|
|
|
4,096
|
|
|
14,532
|
|
|
2,444
|
|
|
4,408
|
|
|
16,664
|
|
|
1,396
|
|
|
2015
|
|
2016
|
|
123 Westmead Road
|
Suwanee, GA
|
|
—
|
|
|
1,560
|
|
|
11,538
|
|
|
1,531
|
|
|
1,560
|
|
|
13,069
|
|
|
3,743
|
|
|
2012
|
|
2000
|
|
4315 Johns Creek Parkway
|
Sway, UK
|
|
—
|
|
|
4,145
|
|
|
15,508
|
|
|
2,261
|
|
|
4,509
|
|
|
17,405
|
|
|
3,692
|
|
|
2014
|
|
2008
|
|
Sway Place
|
Swift Current, SK
|
|
1,790
|
|
|
492
|
|
|
10,119
|
|
|
1,185
|
|
|
531
|
|
|
11,265
|
|
|
2,713
|
|
|
2013
|
|
2001
|
|
301 Macoun Drive
|
Sylvania, OH
|
|
—
|
|
|
1,205
|
|
|
12,024
|
|
|
—
|
|
|
1,205
|
|
|
12,024
|
|
|
270
|
|
|
2019
|
|
2019
|
|
4120 King Road
|
Syracuse, NY
|
|
—
|
|
|
1,385
|
|
|
11,555
|
|
|
863
|
|
|
1,385
|
|
|
12,418
|
|
|
743
|
|
|
2019
|
|
2011
|
|
6715 Buckley Road
|
Tacoma, WA
|
|
—
|
|
|
4,170
|
|
|
73,377
|
|
|
17,171
|
|
|
4,170
|
|
|
90,548
|
|
|
17,187
|
|
|
2016
|
|
1987
|
|
8201 6th Avenue
|
Tampa, FL
|
|
69,330
|
|
|
4,910
|
|
|
114,148
|
|
|
7,556
|
|
|
5,073
|
|
|
121,541
|
|
|
23,400
|
|
|
2015
|
|
2001
|
|
12951 W Linebaugh Avenue
|
Tampa, FL
|
|
—
|
|
|
3,451
|
|
|
25,775
|
|
|
—
|
|
|
3,451
|
|
|
25,775
|
|
|
65
|
|
|
2019
|
|
2019
|
|
11330 Countryway Blvd
|
The Woodlands, TX
|
|
—
|
|
|
480
|
|
|
12,379
|
|
|
557
|
|
|
480
|
|
|
12,936
|
|
|
3,351
|
|
|
2011
|
|
1999
|
|
7950 Bay Branch Dr
|
Toledo, OH
|
|
—
|
|
|
2,040
|
|
|
47,129
|
|
|
4,107
|
|
|
2,144
|
|
|
51,132
|
|
|
16,567
|
|
|
2010
|
|
1985
|
|
3501 Executive Parkway
|
Toms River, NJ
|
|
—
|
|
|
1,610
|
|
|
34,627
|
|
|
1,428
|
|
|
1,695
|
|
|
35,970
|
|
|
8,532
|
|
|
2010
|
|
2005
|
|
1587 Old Freehold Rd
|
Tonawanda, NY
|
|
—
|
|
|
1,534
|
|
|
13,264
|
|
|
1,252
|
|
|
1,534
|
|
|
14,516
|
|
|
820
|
|
|
2019
|
|
2011
|
|
300 Fries Road
|
Tonawanda, NY
|
|
—
|
|
|
2,425
|
|
|
12,433
|
|
|
1,428
|
|
|
2,425
|
|
|
13,861
|
|
|
852
|
|
|
2019
|
|
2009
|
|
285 Crestmount Avenue
|
Toronto, ON
|
|
17,976
|
|
|
2,927
|
|
|
20,713
|
|
|
4,001
|
|
|
3,157
|
|
|
24,484
|
|
|
4,292
|
|
|
2015
|
|
1900
|
|
54 Foxbar Road
|
Toronto, ON
|
|
8,049
|
|
|
5,082
|
|
|
25,493
|
|
|
3,119
|
|
|
5,448
|
|
|
28,246
|
|
|
6,299
|
|
|
2015
|
|
1988
|
|
645 Castlefield Avenue
|
Toronto, ON
|
|
12,756
|
|
|
2,008
|
|
|
19,620
|
|
|
1,286
|
|
|
2,113
|
|
|
20,801
|
|
|
3,744
|
|
|
2015
|
|
1999
|
|
4251 Dundas Street West
|
Toronto, ON
|
|
36,974
|
|
|
5,132
|
|
|
41,657
|
|
|
5,581
|
|
|
5,484
|
|
|
46,886
|
|
|
12,124
|
|
|
2015
|
|
1964
|
|
10 William Morgan Drive
|
Toronto, ON
|
|
7,665
|
|
|
2,480
|
|
|
7,571
|
|
|
1,099
|
|
|
2,662
|
|
|
8,488
|
|
|
2,084
|
|
|
2015
|
|
1971
|
|
123 Spadina Road
|
Toronto, ON
|
|
4,701
|
|
|
1,079
|
|
|
5,364
|
|
|
731
|
|
|
1,152
|
|
|
6,022
|
|
|
1,488
|
|
|
2013
|
|
1982
|
|
25 Centennial Park Road
|
Toronto, ON
|
|
7,545
|
|
|
2,513
|
|
|
19,695
|
|
|
2,250
|
|
|
2,718
|
|
|
21,740
|
|
|
4,677
|
|
|
2013
|
|
2002
|
|
305 Balliol Street
|
Toronto, ON
|
|
17,746
|
|
|
3,400
|
|
|
32,757
|
|
|
3,552
|
|
|
3,635
|
|
|
36,074
|
|
|
9,152
|
|
|
2013
|
|
1973
|
|
1055 and 1057 Don Mills Road
|
Toronto, ON
|
|
5,807
|
|
|
1,447
|
|
|
3,918
|
|
|
673
|
|
|
1,572
|
|
|
4,466
|
|
|
1,361
|
|
|
2013
|
|
1987
|
|
1340 York Mills Road
|
Toronto, ON
|
|
31,276
|
|
|
5,304
|
|
|
53,488
|
|
|
8,935
|
|
|
5,675
|
|
|
62,052
|
|
|
17,963
|
|
|
2013
|
|
1988
|
|
8 The Donway East
|
Torrance, CA
|
|
—
|
|
|
3,497
|
|
|
73,138
|
|
|
186
|
|
|
3,497
|
|
|
73,324
|
|
|
6,464
|
|
|
2016
|
|
2016
|
|
25535 Hawthorne Boulevard
|
Tucson, AZ
|
|
—
|
|
|
830
|
|
|
6,179
|
|
|
4,055
|
|
|
830
|
|
|
10,234
|
|
|
2,031
|
|
|
2012
|
|
1997
|
|
5660 N. Kolb Road
|
Tulsa, OK
|
|
—
|
|
|
1,330
|
|
|
21,285
|
|
|
4,679
|
|
|
1,362
|
|
|
25,932
|
|
|
8,192
|
|
|
2010
|
|
1986
|
|
8887 South Lewis Ave
|
Tulsa, OK
|
|
—
|
|
|
1,500
|
|
|
20,861
|
|
|
4,285
|
|
|
1,614
|
|
|
25,032
|
|
|
8,129
|
|
|
2010
|
|
1984
|
|
9524 East 71st St
|
Turlock, CA
|
|
—
|
|
|
2,266
|
|
|
12,737
|
|
|
1,122
|
|
|
2,266
|
|
|
13,859
|
|
|
263
|
|
|
2019
|
|
2001
|
|
3791 Crowell Road
|
Twinsburg, OH
|
|
—
|
|
|
1,035
|
|
|
8,302
|
|
|
543
|
|
|
1,035
|
|
|
8,845
|
|
|
569
|
|
|
2019
|
|
2016
|
|
3092 Kendal Lane
|
Upland, CA
|
|
—
|
|
|
3,160
|
|
|
42,596
|
|
|
68
|
|
|
3,160
|
|
|
42,664
|
|
|
6,592
|
|
|
2015
|
|
2014
|
|
2419 North Euclid Avenue
|
Upper Providence, PA
|
|
—
|
|
|
1,900
|
|
|
28,195
|
|
|
404
|
|
|
1,906
|
|
|
28,593
|
|
|
3,475
|
|
|
2013
|
|
2015
|
|
1133 Black Rock Road
|
Upper St Claire, PA
|
|
—
|
|
|
1,102
|
|
|
13,455
|
|
|
1,623
|
|
|
1,153
|
|
|
15,027
|
|
|
4,186
|
|
|
2013
|
|
2005
|
|
500 Village Drive
|
Vacaville, CA
|
|
—
|
|
|
900
|
|
|
17,100
|
|
|
3,051
|
|
|
900
|
|
|
20,151
|
|
|
7,599
|
|
|
2005
|
|
1987
|
|
799 Yellowstone Dr.
|
Vallejo, CA
|
|
—
|
|
|
4,000
|
|
|
18,000
|
|
|
4,463
|
|
|
4,030
|
|
|
22,433
|
|
|
8,210
|
|
|
2005
|
|
1989
|
|
350 Locust Dr.
|
Vallejo, CA
|
|
—
|
|
|
2,330
|
|
|
15,407
|
|
|
1,224
|
|
|
2,330
|
|
|
16,631
|
|
|
4,928
|
|
|
2010
|
|
1990
|
|
2261 Tuolumne
|
Vancouver, WA
|
|
—
|
|
|
1,820
|
|
|
19,042
|
|
|
1,052
|
|
|
1,821
|
|
|
20,093
|
|
|
5,810
|
|
|
2010
|
|
2006
|
|
10011 NE 118th Ave
|
Vancouver, BC
|
|
—
|
|
|
7,282
|
|
|
6,572
|
|
|
1,440
|
|
|
7,661
|
|
|
7,633
|
|
|
5,714
|
|
|
2015
|
|
1974
|
|
2803 West 41st Avenue
|
Vankleek Hill, ON
|
|
665
|
|
|
389
|
|
|
2,960
|
|
|
541
|
|
|
421
|
|
|
3,469
|
|
|
960
|
|
|
2013
|
|
1987
|
|
48 Wall Street
|
Welltower Inc.
|
|
|
||||||||||||||||||||||||||||||||
Schedule III
|
|
|
||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation
|
|
|
||||||||||||||||||||||||||||||||
December 31, 2019
|
|
|
||||||||||||||||||||||||||||||||
(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
|
|
|
$
|
3,442
|
|
|
2014
|
|
1998
|
|
6565 Central Park Boulevard
|
Abilene, TX
|
|
—
|
|
|
990
|
|
|
8,187
|
|
|
1,089
|
|
|
990
|
|
|
9,276
|
|
|
1,262
|
|
|
2014
|
|
1985
|
|
1250 East N 10th Street
|
|||||||
Aboite Twp, IN
|
|
—
|
|
|
1,770
|
|
|
19,930
|
|
|
1,601
|
|
|
1,770
|
|
|
21,531
|
|
|
5,178
|
|
|
2010
|
|
2008
|
|
611 W County Line Rd South
|
|||||||
Agawam, MA
|
|
—
|
|
|
880
|
|
|
16,112
|
|
|
2,134
|
|
|
880
|
|
|
18,246
|
|
|
8,476
|
|
|
2002
|
|
1993
|
|
1200 Suffield St.
|
|||||||
Akron, OH
|
|
—
|
|
|
633
|
|
|
3,003
|
|
|
—
|
|
|
633
|
|
|
3,003
|
|
|
121
|
|
|
2018
|
|
1999
|
|
171 North Cleveland Massillon Road
|
|||||||
Alexandria, VA
|
|
—
|
|
|
2,452
|
|
|
6,829
|
|
|
—
|
|
|
2,452
|
|
|
6,829
|
|
|
267
|
|
|
2018
|
|
1964
|
|
1510 Collingwood Road
|
|||||||
Alhambra, CA
|
|
—
|
|
|
600
|
|
|
6,305
|
|
|
8,847
|
|
|
600
|
|
|
15,152
|
|
|
2,322
|
|
|
2011
|
|
1923
|
|
1118 N. Stoneman Ave.
|
|||||||
Allen Park, MI
|
|
—
|
|
|
1,767
|
|
|
5,027
|
|
|
—
|
|
|
1,767
|
|
|
5,027
|
|
|
199
|
|
|
2018
|
|
1960
|
|
9150 Allen Road
|
|||||||
Allentown, PA
|
|
—
|
|
|
494
|
|
|
11,849
|
|
|
—
|
|
|
494
|
|
|
11,849
|
|
|
457
|
|
|
2018
|
|
1995
|
|
5151 Hamilton Boulevard
|
|||||||
Allentown, PA
|
|
—
|
|
|
1,491
|
|
|
4,823
|
|
|
—
|
|
|
1,491
|
|
|
4,823
|
|
|
195
|
|
|
2018
|
|
1988
|
|
1265 Cedar Crest Boulevard
|
|||||||
Ames, IA
|
|
—
|
|
|
330
|
|
|
8,870
|
|
|
—
|
|
|
330
|
|
|
8,870
|
|
|
2,314
|
|
|
2010
|
|
1999
|
|
1325 Coconino Rd.
|
|||||||
Ann Arbor, MI
|
|
—
|
|
|
2,172
|
|
|
11,127
|
|
|
—
|
|
|
2,172
|
|
|
11,127
|
|
|
463
|
|
|
2018
|
|
1997
|
|
4701 East Huron River Drive
|
|||||||
Annandale, VA
|
|
—
|
|
|
1,687
|
|
|
18,980
|
|
|
—
|
|
|
1,687
|
|
|
18,980
|
|
|
716
|
|
|
2018
|
|
2002
|
|
7104 Braddock Road
|
|||||||
Arlington, VA
|
|
—
|
|
|
4,016
|
|
|
8,805
|
|
|
—
|
|
|
4,016
|
|
|
8,805
|
|
|
339
|
|
|
2018
|
|
1976
|
|
550 South Carlin Southprings Road
|
|||||||
Asheboro, NC
|
|
—
|
|
|
290
|
|
|
5,032
|
|
|
261
|
|
|
290
|
|
|
5,293
|
|
|
2,265
|
|
|
2003
|
|
1998
|
|
514 Vision Dr.
|
|||||||
Asheville, NC
|
|
—
|
|
|
204
|
|
|
3,489
|
|
|
—
|
|
|
204
|
|
|
3,489
|
|
|
1,938
|
|
|
1999
|
|
1999
|
|
4 Walden Ridge Dr.
|
|||||||
Asheville, NC
|
|
—
|
|
|
280
|
|
|
1,955
|
|
|
518
|
|
|
280
|
|
|
2,473
|
|
|
1,086
|
|
|
2003
|
|
1992
|
|
308 Overlook Rd.
|
|||||||
Atchison, KS
|
|
—
|
|
|
140
|
|
|
5,610
|
|
|
23
|
|
|
140
|
|
|
5,633
|
|
|
634
|
|
|
2015
|
|
2001
|
|
1301 N 4th St.
|
|||||||
Aurora, CO
|
|
—
|
|
|
2,440
|
|
|
28,172
|
|
|
—
|
|
|
2,440
|
|
|
28,172
|
|
|
12,556
|
|
|
2006
|
|
2007
|
|
14211 E. Evans Ave.
|
|||||||
Austin, TX
|
|
—
|
|
|
1,691
|
|
|
5,006
|
|
|
—
|
|
|
1,691
|
|
|
5,006
|
|
|
257
|
|
|
2018
|
|
2000
|
|
11630 Four Iron Drive
|
|||||||
Avon, IN
|
|
—
|
|
|
1,830
|
|
|
14,470
|
|
|
—
|
|
|
1,830
|
|
|
14,470
|
|
|
3,942
|
|
|
2010
|
|
2004
|
|
182 S Country RD. 550E
|
|||||||
Avon, IN
|
|
—
|
|
|
900
|
|
|
19,444
|
|
|
—
|
|
|
900
|
|
|
19,444
|
|
|
2,896
|
|
|
2014
|
|
2013
|
|
10307 E. CR 100 N
|
|||||||
Avon, CT
|
|
—
|
|
|
2,132
|
|
|
7,627
|
|
|
—
|
|
|
2,132
|
|
|
7,627
|
|
|
359
|
|
|
2018
|
|
2000
|
|
100 Fisher Drive
|
|||||||
Azusa, CA
|
|
—
|
|
|
570
|
|
|
3,141
|
|
|
7,429
|
|
|
570
|
|
|
10,570
|
|
|
3,172
|
|
|
1998
|
|
1953
|
|
125 W. Sierra Madre Ave.
|
|||||||
Baldwin City, KS
|
|
—
|
|
|
190
|
|
|
4,810
|
|
|
55
|
|
|
190
|
|
|
4,865
|
|
|
560
|
|
|
2015
|
|
2000
|
|
321 Crimson Ave
|
|||||||
Baltimore, MD
|
|
—
|
|
|
4,306
|
|
|
4,305
|
|
|
—
|
|
|
4,306
|
|
|
4,305
|
|
|
181
|
|
|
2018
|
|
1978
|
|
6600 Ridge Road
|
|||||||
Baltimore, MD
|
|
—
|
|
|
3,069
|
|
|
3,150
|
|
|
—
|
|
|
3,069
|
|
|
3,150
|
|
|
141
|
|
|
2018
|
|
1996
|
|
4669 Falls Road
|
|||||||
Barberton, OH
|
|
—
|
|
|
1,307
|
|
|
9,313
|
|
|
—
|
|
|
1,307
|
|
|
9,313
|
|
|
356
|
|
|
2018
|
|
1979
|
|
85 Third Street
|
|||||||
Bartlesville, OK
|
|
—
|
|
|
100
|
|
|
1,380
|
|
|
—
|
|
|
100
|
|
|
1,380
|
|
|
860
|
|
|
1996
|
|
1995
|
|
5420 S.E. Adams Blvd.
|
|||||||
Battle Creek, MI
|
|
—
|
|
|
857
|
|
|
1,822
|
|
|
—
|
|
|
857
|
|
|
1,822
|
|
|
99
|
|
|
2018
|
|
1965
|
|
200 Roosevelt Avenue East
|
|||||||
Bay City, MI
|
|
—
|
|
|
633
|
|
|
2,620
|
|
|
—
|
|
|
633
|
|
|
2,620
|
|
|
115
|
|
|
2018
|
|
1968
|
|
800 Mulholland Street
|
|||||||
Bedford, PA
|
|
—
|
|
|
637
|
|
|
4,434
|
|
|
—
|
|
|
637
|
|
|
4,434
|
|
|
201
|
|
|
2018
|
|
1965
|
|
136 Donahoe Manor Road
|
|||||||
Belmont, CA
|
|
—
|
|
|
3,000
|
|
|
23,526
|
|
|
1,653
|
|
|
3,000
|
|
|
25,179
|
|
|
6,778
|
|
|
2011
|
|
1971
|
|
1301 Ralston Avenue
|
|||||||
Belvidere, NJ
|
|
—
|
|
|
2,001
|
|
|
26,191
|
|
|
—
|
|
|
2,001
|
|
|
26,191
|
|
|
771
|
|
|
2019
|
|
2009
|
|
1 Brookfield Ct
|
|||||||
Benbrook, TX
|
|
—
|
|
|
1,550
|
|
|
13,553
|
|
|
2,747
|
|
|
1,550
|
|
|
16,300
|
|
|
3,242
|
|
|
2011
|
|
1984
|
|
4242 Bryant Irvin Road
|
|||||||
Berkeley, CA
|
|
11,947
|
|
|
3,050
|
|
|
32,677
|
|
|
4,982
|
|
|
3,050
|
|
|
37,659
|
|
|
5,614
|
|
|
2016
|
|
1966
|
|
2235 Sacramento Street
|
|||||||
Bethel Park, PA
|
|
—
|
|
|
1,700
|
|
|
16,007
|
|
|
—
|
|
|
1,700
|
|
|
16,007
|
|
|
4,712
|
|
|
2007
|
|
2009
|
|
5785 Baptist Road
|
|||||||
Bethel Park, PA
|
|
—
|
|
|
1,008
|
|
|
6,742
|
|
|
—
|
|
|
1,008
|
|
|
6,742
|
|
|
276
|
|
|
2018
|
|
1986
|
|
60 Highland Road
|
|||||||
Bethesda, MD
|
|
—
|
|
|
2,218
|
|
|
6,871
|
|
|
—
|
|
|
2,218
|
|
|
6,871
|
|
|
259
|
|
|
2018
|
|
1974
|
|
6530 Democracy Boulevard
|
|||||||
Bethlehem, PA
|
|
—
|
|
|
1,191
|
|
|
16,892
|
|
|
—
|
|
|
1,191
|
|
|
16,892
|
|
|
620
|
|
|
2018
|
|
1979
|
|
2021 Westgate 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
|
|||||||
Triple-net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Bethlehem, PA
|
|
—
|
|
|
1,143
|
|
|
13,592
|
|
|
—
|
|
|
1,143
|
|
|
13,592
|
|
|
502
|
|
|
2018
|
|
1982
|
|
2029 Westgate Drive
|
Beverly Hills, CA
|
|
—
|
|
|
6,000
|
|
|
13,385
|
|
|
—
|
|
|
6,000
|
|
|
13,385
|
|
|
1,761
|
|
|
2014
|
|
2000
|
|
220 N Clark Drive
|
Bexleyheath, UK
|
|
—
|
|
|
3,750
|
|
|
10,807
|
|
|
1,101
|
|
|
4,034
|
|
|
11,624
|
|
|
1,567
|
|
|
2014
|
|
1996
|
|
35 West Street
|
Bingham Farms, MI
|
|
—
|
|
|
781
|
|
|
15,676
|
|
|
—
|
|
|
781
|
|
|
15,676
|
|
|
597
|
|
|
2018
|
|
1999
|
|
24005 West 13 Mile Road
|
Birmingham, UK
|
|
—
|
|
|
1,647
|
|
|
14,853
|
|
|
1,246
|
|
|
1,771
|
|
|
15,975
|
|
|
1,964
|
|
|
2015
|
|
2010
|
|
Clinton Street, Winson Green
|
Birmingham, UK
|
|
—
|
|
|
1,591
|
|
|
19,092
|
|
|
1,564
|
|
|
1,712
|
|
|
20,535
|
|
|
2,488
|
|
|
2015
|
|
2010
|
|
Braymoor Road, Tile Cross
|
Birmingham, UK
|
|
—
|
|
|
1,462
|
|
|
9,056
|
|
|
794
|
|
|
1,572
|
|
|
9,740
|
|
|
1,216
|
|
|
2015
|
|
2010
|
|
Clinton Street, Winson Green
|
Birmingham, UK
|
|
—
|
|
|
1,184
|
|
|
10,085
|
|
|
852
|
|
|
1,274
|
|
|
10,847
|
|
|
1,324
|
|
|
2015
|
|
1997
|
|
122 Tile Cross Road, Garretts Green
|
Bloomington, IN
|
|
—
|
|
|
670
|
|
|
17,423
|
|
|
—
|
|
|
670
|
|
|
17,423
|
|
|
2,146
|
|
|
2015
|
|
2015
|
|
363 S. Fieldstone Boulevard
|
Boca Raton, FL
|
|
—
|
|
|
2,200
|
|
|
4,976
|
|
|
—
|
|
|
2,200
|
|
|
4,976
|
|
|
247
|
|
|
2018
|
|
1994
|
|
7225 Boca Del Mar Drive
|
Boca Raton, FL
|
|
—
|
|
|
2,826
|
|
|
4,063
|
|
|
—
|
|
|
2,826
|
|
|
4,063
|
|
|
180
|
|
|
2018
|
|
1984
|
|
375 Northwest 51st Street
|
Boulder, CO
|
|
—
|
|
|
3,601
|
|
|
21,371
|
|
|
—
|
|
|
3,601
|
|
|
21,371
|
|
|
870
|
|
|
2018
|
|
1990
|
|
2800 Palo Parkway
|
Bournemouth, UK
|
|
—
|
|
|
2,589
|
|
|
15,984
|
|
|
—
|
|
|
2,589
|
|
|
15,984
|
|
|
44
|
|
|
2019
|
|
2017
|
|
Poole Lane
|
Boynton Beach, FL
|
|
—
|
|
|
2,138
|
|
|
10,204
|
|
|
—
|
|
|
2,138
|
|
|
10,204
|
|
|
425
|
|
|
2018
|
|
1991
|
|
3600 Old Boynton Road
|
Boynton Beach, FL
|
|
—
|
|
|
2,804
|
|
|
14,226
|
|
|
—
|
|
|
2,804
|
|
|
14,226
|
|
|
541
|
|
|
2018
|
|
1984
|
|
3001 South Congress Avenue
|
Bracknell, UK
|
|
—
|
|
|
4,081
|
|
|
11,470
|
|
|
217
|
|
|
4,246
|
|
|
11,522
|
|
|
713
|
|
|
2014
|
|
2017
|
|
Bagshot Road
|
Bradenton, FL
|
|
—
|
|
|
252
|
|
|
3,298
|
|
|
—
|
|
|
252
|
|
|
3,298
|
|
|
2,068
|
|
|
1996
|
|
1995
|
|
6101 Pointe W. Blvd.
|
Bradenton, FL
|
|
—
|
|
|
480
|
|
|
9,953
|
|
|
110
|
|
|
480
|
|
|
10,063
|
|
|
1,978
|
|
|
2012
|
|
2000
|
|
2800 60th Avenue West
|
Braintree, MA
|
|
—
|
|
|
170
|
|
|
7,157
|
|
|
1,290
|
|
|
170
|
|
|
8,447
|
|
|
8,444
|
|
|
1997
|
|
1968
|
|
1102 Washington St.
|
Braintree, UK
|
|
—
|
|
|
—
|
|
|
13,296
|
|
|
1,005
|
|
|
—
|
|
|
14,301
|
|
|
2,010
|
|
|
2014
|
|
2009
|
|
Meadow Park Tortoiseshell Way
|
Brecksville, OH
|
|
—
|
|
|
990
|
|
|
19,353
|
|
|
—
|
|
|
990
|
|
|
19,353
|
|
|
2,872
|
|
|
2014
|
|
2011
|
|
8757 Brecksville Road
|
Brentwood, UK
|
|
34,515
|
|
|
8,537
|
|
|
45,869
|
|
|
4,443
|
|
|
9,182
|
|
|
49,667
|
|
|
3,992
|
|
|
2016
|
|
2013
|
|
London Road
|
Brick, NJ
|
|
—
|
|
|
1,290
|
|
|
25,247
|
|
|
1,330
|
|
|
1,290
|
|
|
26,577
|
|
|
5,851
|
|
|
2011
|
|
2000
|
|
458 Jack Martin Blvd.
|
Bridgewater, NJ
|
|
—
|
|
|
1,800
|
|
|
31,810
|
|
|
1,678
|
|
|
1,800
|
|
|
33,488
|
|
|
7,340
|
|
|
2011
|
|
2001
|
|
680 US-202/206 North
|
Bristol, UK
|
|
—
|
|
|
4,256
|
|
|
17,962
|
|
|
—
|
|
|
4,256
|
|
|
17,962
|
|
|
411
|
|
|
2015
|
|
2017
|
|
339 Badminton Road
|
Bristol, UK
|
|
—
|
|
|
2,270
|
|
|
13,030
|
|
|
—
|
|
|
2,270
|
|
|
13,030
|
|
|
183
|
|
|
2017
|
|
2019
|
|
Avon Valley Care Home, Tenniscourt Road
|
Brooks, AB
|
|
1,747
|
|
|
376
|
|
|
4,951
|
|
|
370
|
|
|
401
|
|
|
5,296
|
|
|
768
|
|
|
2014
|
|
2000
|
|
951 Cassils Road West
|
Bucyrus, OH
|
|
—
|
|
|
1,119
|
|
|
2,612
|
|
|
—
|
|
|
1,119
|
|
|
2,612
|
|
|
122
|
|
|
2018
|
|
1976
|
|
1170 West Mansfield Street
|
Burleson, TX
|
|
—
|
|
|
670
|
|
|
13,985
|
|
|
2,457
|
|
|
670
|
|
|
16,442
|
|
|
3,430
|
|
|
2011
|
|
1988
|
|
300 Huguley Boulevard
|
Burlington, NC
|
|
—
|
|
|
280
|
|
|
4,297
|
|
|
835
|
|
|
280
|
|
|
5,132
|
|
|
2,157
|
|
|
2003
|
|
2000
|
|
3619 S. Mebane St.
|
Burlington, NC
|
|
—
|
|
|
460
|
|
|
5,467
|
|
|
53
|
|
|
460
|
|
|
5,520
|
|
|
2,400
|
|
|
2003
|
|
1997
|
|
3615 S. Mebane St.
|
Burlington, NJ
|
|
—
|
|
|
1,700
|
|
|
12,554
|
|
|
501
|
|
|
1,700
|
|
|
13,055
|
|
|
3,652
|
|
|
2011
|
|
1965
|
|
115 Sunset Road
|
Burlington, NJ
|
|
—
|
|
|
1,170
|
|
|
19,205
|
|
|
172
|
|
|
1,170
|
|
|
19,377
|
|
|
4,657
|
|
|
2011
|
|
1994
|
|
2305 Rancocas Road
|
Burnaby, BC
|
|
7,292
|
|
|
7,623
|
|
|
13,844
|
|
|
1,463
|
|
|
8,139
|
|
|
14,791
|
|
|
2,177
|
|
|
2014
|
|
2006
|
|
7195 Canada Way
|
Calgary, AB
|
|
14,841
|
|
|
2,341
|
|
|
42,768
|
|
|
3,122
|
|
|
2,500
|
|
|
45,731
|
|
|
6,386
|
|
|
2014
|
|
1971
|
|
1729-90th Avenue SW
|
Calgary, AB
|
|
24,614
|
|
|
4,569
|
|
|
70,199
|
|
|
5,069
|
|
|
4,878
|
|
|
74,959
|
|
|
10,375
|
|
|
2014
|
|
2001
|
|
500 Midpark Way SE
|
Camberley, UK
|
|
—
|
|
|
9,974
|
|
|
39,168
|
|
|
1,984
|
|
|
10,376
|
|
|
40,750
|
|
|
2,725
|
|
|
2016
|
|
2017
|
|
Pembroke Broadway
|
Camp Hill, PA
|
|
—
|
|
|
517
|
|
|
3,597
|
|
|
—
|
|
|
517
|
|
|
3,597
|
|
|
142
|
|
|
2018
|
|
1970
|
|
1700 Market Street
|
Canonsburg, PA
|
|
—
|
|
|
911
|
|
|
4,830
|
|
|
—
|
|
|
911
|
|
|
4,830
|
|
|
207
|
|
|
2018
|
|
1986
|
|
113 West McMurray Road
|
Canton, OH
|
|
—
|
|
|
300
|
|
|
2,098
|
|
|
—
|
|
|
300
|
|
|
2,098
|
|
|
1,165
|
|
|
1998
|
|
1998
|
|
1119 Perry Dr., N.W.
|
Canton, MI
|
|
—
|
|
|
1,399
|
|
|
16,971
|
|
|
—
|
|
|
1,399
|
|
|
16,971
|
|
|
644
|
|
|
2018
|
|
2005
|
|
7025 Lilley Road
|
Cape Coral, FL
|
|
—
|
|
|
530
|
|
|
3,281
|
|
|
—
|
|
|
530
|
|
|
3,281
|
|
|
1,551
|
|
|
2002
|
|
2000
|
|
911 Santa Barbara Blvd.
|
Cape Coral, FL
|
|
8,135
|
|
|
760
|
|
|
18,868
|
|
|
106
|
|
|
760
|
|
|
18,974
|
|
|
3,788
|
|
|
2012
|
|
2009
|
|
831 Santa Barbara Boulevard
|
Cape May Court House, NJ
|
|
—
|
|
|
1,440
|
|
|
17,002
|
|
|
1,775
|
|
|
1,440
|
|
|
18,777
|
|
|
2,784
|
|
|
2014
|
|
1990
|
|
144 Magnolia Drive
|
Carlisle, PA
|
|
—
|
|
|
978
|
|
|
8,207
|
|
|
—
|
|
|
978
|
|
|
8,207
|
|
|
331
|
|
|
2018
|
|
1987
|
|
940 Walnut Bottom 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Carmel, IN
|
|
—
|
|
|
1,700
|
|
|
19,491
|
|
|
1
|
|
|
1,700
|
|
|
19,492
|
|
|
2,521
|
|
|
2015
|
|
2015
|
|
12315 Pennsylvania Street
|
Carmel, IN
|
|
—
|
|
|
1,583
|
|
|
6,071
|
|
|
—
|
|
|
1,583
|
|
|
6,071
|
|
|
263
|
|
|
2018
|
|
1985
|
|
12999 North Pennsylvania Street
|
Carmel, IN
|
|
—
|
|
|
—
|
|
|
2,296
|
|
|
—
|
|
|
—
|
|
|
2,296
|
|
|
82
|
|
|
2018
|
|
1985
|
|
12999 North Pennsylvania Street
|
Carrollton, TX
|
|
—
|
|
|
2,010
|
|
|
19,549
|
|
|
—
|
|
|
2,010
|
|
|
19,549
|
|
|
1,724
|
|
|
2014
|
|
2016
|
|
2645 East Trinity Mills Road
|
Cary, NC
|
|
—
|
|
|
1,500
|
|
|
4,350
|
|
|
1,051
|
|
|
1,500
|
|
|
5,401
|
|
|
2,827
|
|
|
1998
|
|
1996
|
|
111 MacArthur
|
Castleton, IN
|
|
—
|
|
|
920
|
|
|
15,137
|
|
|
—
|
|
|
920
|
|
|
15,137
|
|
|
2,343
|
|
|
2014
|
|
2013
|
|
8405 Clearvista Lake
|
Cedar Grove, NJ
|
|
—
|
|
|
2,850
|
|
|
27,737
|
|
|
20
|
|
|
2,850
|
|
|
27,757
|
|
|
6,753
|
|
|
2011
|
|
1970
|
|
536 Ridge Road
|
Cedar Rapids, IA
|
|
—
|
|
|
596
|
|
|
9,354
|
|
|
—
|
|
|
596
|
|
|
9,354
|
|
|
348
|
|
|
2018
|
|
1965
|
|
1940 1st Avenue Northeast
|
Centerville, OH
|
|
—
|
|
|
920
|
|
|
3,960
|
|
|
—
|
|
|
920
|
|
|
3,960
|
|
|
228
|
|
|
2018
|
|
1997
|
|
1001 E. Alex Bell Road
|
Chagrin Falls, OH
|
|
—
|
|
|
832
|
|
|
10,841
|
|
|
—
|
|
|
832
|
|
|
10,841
|
|
|
431
|
|
|
2018
|
|
1999
|
|
8100 East Washington Street
|
Chambersburg, PA
|
|
—
|
|
|
1,373
|
|
|
8,864
|
|
|
—
|
|
|
1,373
|
|
|
8,864
|
|
|
370
|
|
|
2018
|
|
1976
|
|
1070 Stouffer Avenue
|
Chapel Hill, NC
|
|
—
|
|
|
354
|
|
|
2,646
|
|
|
1,034
|
|
|
354
|
|
|
3,680
|
|
|
1,587
|
|
|
2002
|
|
1997
|
|
100 Lanark Rd.
|
Charleston, SC
|
|
—
|
|
|
1,333
|
|
|
5,556
|
|
|
—
|
|
|
1,333
|
|
|
5,556
|
|
|
220
|
|
|
2018
|
|
1982
|
|
1137 Sam Rittenberg Boulevard
|
Charleston, WV
|
|
—
|
|
|
440
|
|
|
17,575
|
|
|
306
|
|
|
440
|
|
|
17,881
|
|
|
4,158
|
|
|
2011
|
|
1998
|
|
1000 Association Drive, North Gate Business Park
|
Chatham, VA
|
|
—
|
|
|
320
|
|
|
14,039
|
|
|
—
|
|
|
320
|
|
|
14,039
|
|
|
2,222
|
|
|
2014
|
|
2009
|
|
100 Rorer Street
|
Cherry Hill, NJ
|
|
—
|
|
|
1,416
|
|
|
9,874
|
|
|
—
|
|
|
1,416
|
|
|
9,874
|
|
|
408
|
|
|
2018
|
|
1997
|
|
2700 Chapel Avenue West
|
Chester, VA
|
|
—
|
|
|
1,320
|
|
|
18,127
|
|
|
—
|
|
|
1,320
|
|
|
18,127
|
|
|
2,844
|
|
|
2014
|
|
2009
|
|
12001 Iron Bridge Road
|
Chevy Chase, MD
|
|
—
|
|
|
4,515
|
|
|
8,688
|
|
|
—
|
|
|
4,515
|
|
|
8,688
|
|
|
338
|
|
|
2018
|
|
1964
|
|
8700 Jones Mill Road
|
Chickasha, OK
|
|
—
|
|
|
85
|
|
|
1,395
|
|
|
—
|
|
|
85
|
|
|
1,395
|
|
|
863
|
|
|
1996
|
|
1996
|
|
801 Country Club Rd.
|
Chillicothe, OH
|
|
—
|
|
|
1,145
|
|
|
8,997
|
|
|
—
|
|
|
1,145
|
|
|
8,997
|
|
|
348
|
|
|
2018
|
|
1977
|
|
1058 Columbus Street
|
Cincinnati, OH
|
|
—
|
|
|
912
|
|
|
14,014
|
|
|
—
|
|
|
912
|
|
|
14,014
|
|
|
550
|
|
|
2018
|
|
2000
|
|
6870 Clough Pike
|
Citrus Heights, CA
|
|
—
|
|
|
5,207
|
|
|
31,725
|
|
|
—
|
|
|
5,207
|
|
|
31,725
|
|
|
1,172
|
|
|
2018
|
|
1988
|
|
7807 Upland Way
|
Claremore, OK
|
|
—
|
|
|
155
|
|
|
1,427
|
|
|
6,130
|
|
|
155
|
|
|
7,557
|
|
|
1,783
|
|
|
1996
|
|
1996
|
|
1605 N. Hwy. 88
|
Clarksville, TN
|
|
—
|
|
|
330
|
|
|
2,292
|
|
|
—
|
|
|
330
|
|
|
2,292
|
|
|
1,267
|
|
|
1998
|
|
1998
|
|
2183 Memorial Dr.
|
Clayton, NC
|
|
—
|
|
|
520
|
|
|
15,733
|
|
|
—
|
|
|
520
|
|
|
15,733
|
|
|
2,204
|
|
|
2014
|
|
2013
|
|
84 Johnson Estate Road
|
Cleburne, TX
|
|
—
|
|
|
520
|
|
|
5,369
|
|
|
—
|
|
|
520
|
|
|
5,369
|
|
|
1,814
|
|
|
2006
|
|
2007
|
|
402 S Colonial Drive
|
Clevedon, UK
|
|
—
|
|
|
2,838
|
|
|
16,927
|
|
|
1,493
|
|
|
3,052
|
|
|
18,206
|
|
|
2,558
|
|
|
2014
|
|
1994
|
|
18/19 Elton Road
|
Cloquet, MN
|
|
—
|
|
|
340
|
|
|
4,660
|
|
|
120
|
|
|
340
|
|
|
4,780
|
|
|
1,104
|
|
|
2011
|
|
2006
|
|
705 Horizon Circle
|
Cobham, UK
|
|
—
|
|
|
9,808
|
|
|
24,991
|
|
|
2,629
|
|
|
10,549
|
|
|
26,879
|
|
|
4,507
|
|
|
2013
|
|
2013
|
|
Redhill Road
|
Colchester, CT
|
|
—
|
|
|
980
|
|
|
4,860
|
|
|
544
|
|
|
980
|
|
|
5,404
|
|
|
1,636
|
|
|
2011
|
|
1986
|
|
59 Harrington Court
|
Colorado Springs, CO
|
|
—
|
|
|
4,280
|
|
|
62,168
|
|
|
—
|
|
|
4,280
|
|
|
62,168
|
|
|
6,926
|
|
|
2015
|
|
2008
|
|
1605 Elm Creek View
|
Colorado Springs, CO
|
|
—
|
|
|
1,730
|
|
|
25,493
|
|
|
693
|
|
|
1,730
|
|
|
26,186
|
|
|
2,760
|
|
|
2016
|
|
2016
|
|
2818 Grand Vista Circle
|
Columbia, TN
|
|
—
|
|
|
341
|
|
|
2,295
|
|
|
—
|
|
|
341
|
|
|
2,295
|
|
|
1,271
|
|
|
1999
|
|
1999
|
|
5011 Trotwood Ave.
|
Columbia, SC
|
|
—
|
|
|
1,699
|
|
|
2,320
|
|
|
—
|
|
|
1,699
|
|
|
2,320
|
|
|
100
|
|
|
2018
|
|
1968
|
|
2601 Forest Drive
|
Columbia Heights, MN
|
|
—
|
|
|
825
|
|
|
14,175
|
|
|
163
|
|
|
825
|
|
|
14,338
|
|
|
3,117
|
|
|
2011
|
|
2009
|
|
3807 Hart Boulevard
|
Columbus, IN
|
|
—
|
|
|
610
|
|
|
3,190
|
|
|
—
|
|
|
610
|
|
|
3,190
|
|
|
852
|
|
|
2010
|
|
1998
|
|
2564 Foxpointe Dr.
|
Concord, NC
|
|
—
|
|
|
550
|
|
|
3,921
|
|
|
270
|
|
|
550
|
|
|
4,191
|
|
|
1,871
|
|
|
2003
|
|
1997
|
|
2452 Rock Hill Church Rd.
|
Concord, NH
|
|
—
|
|
|
1,760
|
|
|
43,179
|
|
|
634
|
|
|
1,760
|
|
|
43,813
|
|
|
10,199
|
|
|
2011
|
|
1994
|
|
239 Pleasant Street
|
Congleton, UK
|
|
—
|
|
|
2,036
|
|
|
5,120
|
|
|
540
|
|
|
2,189
|
|
|
5,507
|
|
|
744
|
|
|
2014
|
|
1994
|
|
Rood Hill
|
Conroe, TX
|
|
—
|
|
|
980
|
|
|
7,771
|
|
|
—
|
|
|
980
|
|
|
7,771
|
|
|
2,193
|
|
|
2009
|
|
2010
|
|
903 Longmire Road
|
Coppell, TX
|
|
—
|
|
|
1,550
|
|
|
8,386
|
|
|
169
|
|
|
1,550
|
|
|
8,555
|
|
|
1,609
|
|
|
2012
|
|
2013
|
|
1530 East Sandy Lake Road
|
Corby, UK
|
|
—
|
|
|
1,228
|
|
|
5,144
|
|
|
672
|
|
|
1,204
|
|
|
5,840
|
|
|
418
|
|
|
2017
|
|
1997
|
|
25 Rockingham Road
|
Costa Mesa, CA
|
|
—
|
|
|
2,050
|
|
|
19,969
|
|
|
969
|
|
|
2,050
|
|
|
20,938
|
|
|
5,806
|
|
|
2011
|
|
1965
|
|
350 West Bay St
|
Coventry, UK
|
|
—
|
|
|
1,962
|
|
|
13,830
|
|
|
1,193
|
|
|
2,110
|
|
|
14,875
|
|
|
1,885
|
|
|
2015
|
|
2014
|
|
Banner Lane, Tile Hill
|
Crawfordsville, IN
|
|
—
|
|
|
720
|
|
|
17,239
|
|
|
1,426
|
|
|
720
|
|
|
18,665
|
|
|
2,794
|
|
|
2014
|
|
2013
|
|
517 Concord 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Dallastown, PA
|
|
—
|
|
|
1,377
|
|
|
16,802
|
|
|
—
|
|
|
1,377
|
|
|
16,802
|
|
|
661
|
|
|
2018
|
|
1979
|
|
100 West Queen Street
|
Danville, VA
|
|
—
|
|
|
410
|
|
|
3,954
|
|
|
829
|
|
|
410
|
|
|
4,783
|
|
|
2,072
|
|
|
2003
|
|
1998
|
|
149 Executive Ct.
|
Danville, VA
|
|
—
|
|
|
240
|
|
|
8,436
|
|
|
—
|
|
|
240
|
|
|
8,436
|
|
|
1,352
|
|
|
2014
|
|
1996
|
|
508 Rison Street
|
Daphne, AL
|
|
—
|
|
|
2,880
|
|
|
8,670
|
|
|
384
|
|
|
2,880
|
|
|
9,054
|
|
|
1,884
|
|
|
2012
|
|
2001
|
|
27440 County Road 13
|
Davenport, IA
|
|
—
|
|
|
566
|
|
|
2,017
|
|
|
—
|
|
|
566
|
|
|
2,017
|
|
|
81
|
|
|
2018
|
|
1966
|
|
815 East Locust Street
|
Davenport, IA
|
|
—
|
|
|
910
|
|
|
20,043
|
|
|
—
|
|
|
910
|
|
|
20,043
|
|
|
766
|
|
|
2018
|
|
2008
|
|
3800 Commerce Blvd.
|
Dayton, OH
|
|
—
|
|
|
1,188
|
|
|
5,414
|
|
|
—
|
|
|
1,188
|
|
|
5,414
|
|
|
227
|
|
|
2018
|
|
1977
|
|
1974 North Fairfield Road
|
Dearborn Heights, MI
|
|
—
|
|
|
1,197
|
|
|
3,396
|
|
|
—
|
|
|
1,197
|
|
|
3,396
|
|
|
157
|
|
|
2018
|
|
1964
|
|
26001 Ford Road
|
Decatur, GA
|
|
—
|
|
|
1,413
|
|
|
13,800
|
|
|
—
|
|
|
1,413
|
|
|
13,800
|
|
|
505
|
|
|
2018
|
|
1977
|
|
2722 North Decatur Road
|
Delray Beach, FL
|
|
—
|
|
|
1,158
|
|
|
13,576
|
|
|
—
|
|
|
1,158
|
|
|
13,576
|
|
|
537
|
|
|
2018
|
|
1998
|
|
16150 Jog Road
|
Delray Beach, FL
|
|
—
|
|
|
2,125
|
|
|
11,844
|
|
|
—
|
|
|
2,125
|
|
|
11,844
|
|
|
482
|
|
|
2018
|
|
1998
|
|
16200 Jog Road
|
Denton, TX
|
|
—
|
|
|
1,760
|
|
|
8,305
|
|
|
175
|
|
|
1,760
|
|
|
8,480
|
|
|
2,060
|
|
|
2010
|
|
2011
|
|
2125 Brinker Rd
|
Denver, CO
|
|
—
|
|
|
3,222
|
|
|
24,811
|
|
|
—
|
|
|
3,222
|
|
|
24,811
|
|
|
912
|
|
|
2018
|
|
1988
|
|
290 South Monaco Parkway
|
Derby, UK
|
|
—
|
|
|
2,359
|
|
|
8,539
|
|
|
441
|
|
|
2,455
|
|
|
8,884
|
|
|
963
|
|
|
2014
|
|
2015
|
|
Rykneld Road
|
Dover, DE
|
|
—
|
|
|
600
|
|
|
22,266
|
|
|
141
|
|
|
600
|
|
|
22,407
|
|
|
5,331
|
|
|
2011
|
|
1984
|
|
1080 Silver Lake Blvd.
|
Dublin, OH
|
|
—
|
|
|
1,393
|
|
|
2,912
|
|
|
—
|
|
|
1,393
|
|
|
2,912
|
|
|
139
|
|
|
2018
|
|
2014
|
|
4075 W. Dublin-Granville Road
|
Dubuque, IA
|
|
—
|
|
|
568
|
|
|
8,904
|
|
|
—
|
|
|
568
|
|
|
8,904
|
|
|
332
|
|
|
2018
|
|
1971
|
|
901 West Third Street
|
Dunedin, FL
|
|
—
|
|
|
1,883
|
|
|
13,329
|
|
|
—
|
|
|
1,883
|
|
|
13,329
|
|
|
500
|
|
|
2018
|
|
1983
|
|
870 Patricia Avenue
|
Durham, NC
|
|
—
|
|
|
1,476
|
|
|
10,659
|
|
|
2,587
|
|
|
1,476
|
|
|
13,246
|
|
|
12,451
|
|
|
1997
|
|
1999
|
|
4434 Ben Franklin Blvd.
|
Eagan, MN
|
|
16,186
|
|
|
2,260
|
|
|
31,643
|
|
|
300
|
|
|
2,260
|
|
|
31,943
|
|
|
3,572
|
|
|
2015
|
|
2004
|
|
3810 Alder Avenue
|
East Brunswick, NJ
|
|
—
|
|
|
1,380
|
|
|
34,229
|
|
|
1,093
|
|
|
1,380
|
|
|
35,322
|
|
|
7,664
|
|
|
2011
|
|
1998
|
|
606 Cranbury Rd.
|
Eastbourne, UK
|
|
—
|
|
|
4,071
|
|
|
24,438
|
|
|
2,154
|
|
|
4,379
|
|
|
26,284
|
|
|
3,646
|
|
|
2014
|
|
1999
|
|
Carew Road
|
Easton, PA
|
|
—
|
|
|
1,109
|
|
|
7,502
|
|
|
—
|
|
|
1,109
|
|
|
7,502
|
|
|
384
|
|
|
2018
|
|
2015
|
|
4100 Freemansburg Avenue
|
Easton, PA
|
|
—
|
|
|
1,430
|
|
|
13,400
|
|
|
—
|
|
|
1,430
|
|
|
13,400
|
|
|
529
|
|
|
2018
|
|
1981
|
|
2600 Northampton Street
|
Easton, PA
|
|
—
|
|
|
1,620
|
|
|
10,052
|
|
|
—
|
|
|
1,620
|
|
|
10,052
|
|
|
469
|
|
|
2018
|
|
2000
|
|
4100 Freemansburg Avenue
|
Eden, NC
|
|
—
|
|
|
390
|
|
|
4,877
|
|
|
20
|
|
|
390
|
|
|
4,897
|
|
|
2,162
|
|
|
2003
|
|
1998
|
|
314 W. Kings Hwy.
|
Edmond, OK
|
|
—
|
|
|
410
|
|
|
8,388
|
|
|
—
|
|
|
410
|
|
|
8,388
|
|
|
1,766
|
|
|
2012
|
|
2001
|
|
15401 North Pennsylvania Avenue
|
Edmond, OK
|
|
—
|
|
|
1,810
|
|
|
14,849
|
|
|
3,260
|
|
|
1,810
|
|
|
18,109
|
|
|
2,425
|
|
|
2014
|
|
1985
|
|
1225 Lakeshore Drive
|
Edmond, OK
|
|
—
|
|
|
1,650
|
|
|
25,167
|
|
|
1,700
|
|
|
1,650
|
|
|
26,867
|
|
|
2,103
|
|
|
2014
|
|
2017
|
|
2709 East Danforth Road
|
Elizabeth City, NC
|
|
—
|
|
|
200
|
|
|
2,760
|
|
|
2,165
|
|
|
200
|
|
|
4,925
|
|
|
2,376
|
|
|
1998
|
|
1999
|
|
400 Hastings Lane
|
Elk Grove Village, IL
|
|
—
|
|
|
1,344
|
|
|
7,076
|
|
|
—
|
|
|
1,344
|
|
|
7,076
|
|
|
292
|
|
|
2018
|
|
1995
|
|
1940 Nerge Road Elk
|
Elk Grove Village, IL
|
|
—
|
|
|
3,733
|
|
|
18,751
|
|
|
—
|
|
|
3,733
|
|
|
18,751
|
|
|
685
|
|
|
2018
|
|
1988
|
|
1920 Nerge Road
|
Encinitas, CA
|
|
—
|
|
|
1,460
|
|
|
7,721
|
|
|
1,987
|
|
|
1,460
|
|
|
9,708
|
|
|
4,196
|
|
|
2000
|
|
1988
|
|
335 Saxony Rd.
|
Englewood, NJ
|
|
—
|
|
|
930
|
|
|
4,514
|
|
|
26
|
|
|
930
|
|
|
4,540
|
|
|
1,215
|
|
|
2011
|
|
1966
|
|
333 Grand Avenue
|
Epsom, UK
|
|
33,969
|
|
|
20,159
|
|
|
34,803
|
|
|
4,554
|
|
|
21,682
|
|
|
37,834
|
|
|
3,062
|
|
|
2016
|
|
2014
|
|
450-458 Reigate Road
|
Escondido, CA
|
|
—
|
|
|
1,520
|
|
|
24,024
|
|
|
785
|
|
|
1,520
|
|
|
24,809
|
|
|
6,863
|
|
|
2011
|
|
1987
|
|
1500 Borden Rd
|
Eureka, KS
|
|
—
|
|
|
50
|
|
|
3,950
|
|
|
71
|
|
|
50
|
|
|
4,021
|
|
|
453
|
|
|
2015
|
|
1994
|
|
1820 E River St
|
Everett, WA
|
|
—
|
|
|
1,400
|
|
|
5,476
|
|
|
—
|
|
|
1,400
|
|
|
5,476
|
|
|
2,950
|
|
|
1999
|
|
1999
|
|
2015 Lake Heights Dr.
|
Exton, PA
|
|
—
|
|
|
3,600
|
|
|
27,267
|
|
|
—
|
|
|
3,600
|
|
|
27,267
|
|
|
1,193
|
|
|
2017
|
|
2018
|
|
501 Thomas Jones Way
|
Fairfax, VA
|
|
—
|
|
|
1,827
|
|
|
17,309
|
|
|
—
|
|
|
1,827
|
|
|
17,309
|
|
|
690
|
|
|
2018
|
|
1997
|
|
12469 Lee Jackson Mem Highway
|
Fairfax, VA
|
|
—
|
|
|
4,099
|
|
|
17,620
|
|
|
—
|
|
|
4,099
|
|
|
17,620
|
|
|
687
|
|
|
2018
|
|
1990
|
|
12475 Lee Jackson Memorial Highway
|
Fairhope, AL
|
|
—
|
|
|
570
|
|
|
9,119
|
|
|
112
|
|
|
570
|
|
|
9,231
|
|
|
1,910
|
|
|
2012
|
|
1987
|
|
50 Spring Run Road
|
Fall River, MA
|
|
—
|
|
|
620
|
|
|
5,829
|
|
|
4,856
|
|
|
620
|
|
|
10,685
|
|
|
5,715
|
|
|
1996
|
|
1973
|
|
1748 Highland Ave.
|
Fanwood, NJ
|
|
—
|
|
|
2,850
|
|
|
55,175
|
|
|
1,467
|
|
|
2,850
|
|
|
56,642
|
|
|
12,133
|
|
|
2011
|
|
1982
|
|
295 South Ave.
|
Faribault, MN
|
|
—
|
|
|
780
|
|
|
11,539
|
|
|
300
|
|
|
780
|
|
|
11,839
|
|
|
1,269
|
|
|
2015
|
|
2003
|
|
828 1st Street NE
|
(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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Farmington, CT
|
|
—
|
|
|
1,693
|
|
|
10,459
|
|
|
—
|
|
|
1,693
|
|
|
10,459
|
|
|
425
|
|
|
2018
|
|
1997
|
|
45 South Road
|
Farnborough, UK
|
|
—
|
|
|
2,036
|
|
|
5,737
|
|
|
586
|
|
|
2,189
|
|
|
6,170
|
|
|
810
|
|
|
2014
|
|
1980
|
|
Bruntile Close, Reading Road
|
Fayetteville, PA
|
|
—
|
|
|
2,150
|
|
|
32,951
|
|
|
2,468
|
|
|
2,150
|
|
|
35,419
|
|
|
4,037
|
|
|
2015
|
|
1991
|
|
6375 Chambersburg Road
|
Fayetteville, NY
|
|
—
|
|
|
410
|
|
|
3,962
|
|
|
500
|
|
|
410
|
|
|
4,462
|
|
|
2,080
|
|
|
2001
|
|
1997
|
|
5125 Highbridge St.
|
Findlay, OH
|
|
—
|
|
|
200
|
|
|
1,800
|
|
|
—
|
|
|
200
|
|
|
1,800
|
|
|
1,061
|
|
|
1997
|
|
1997
|
|
725 Fox Run Rd.
|
Fishers, IN
|
|
—
|
|
|
1,500
|
|
|
14,500
|
|
|
—
|
|
|
1,500
|
|
|
14,500
|
|
|
3,949
|
|
|
2010
|
|
2000
|
|
9745 Olympia Dr.
|
Fishersville, VA
|
|
—
|
|
|
788
|
|
|
2,101
|
|
|
—
|
|
|
788
|
|
|
2,101
|
|
|
672
|
|
|
2018
|
|
1998
|
|
83 Crossroad Lane
|
Flint, MI
|
|
—
|
|
|
1,271
|
|
|
18,056
|
|
|
—
|
|
|
1,271
|
|
|
18,056
|
|
|
668
|
|
|
2018
|
|
1969
|
|
3011 North Center Road
|
Florence, NJ
|
|
—
|
|
|
300
|
|
|
2,978
|
|
|
—
|
|
|
300
|
|
|
2,978
|
|
|
1,403
|
|
|
2002
|
|
1999
|
|
901 Broad St.
|
Flourtown, PA
|
|
—
|
|
|
1,800
|
|
|
14,830
|
|
|
266
|
|
|
1,800
|
|
|
15,096
|
|
|
3,728
|
|
|
2011
|
|
1908
|
|
350 Haws Lane
|
Flower Mound, TX
|
|
—
|
|
|
1,800
|
|
|
8,414
|
|
|
174
|
|
|
1,800
|
|
|
8,588
|
|
|
1,803
|
|
|
2011
|
|
2012
|
|
4141 Long Prairie Road
|
Floyd, VA
|
|
—
|
|
|
680
|
|
|
3,618
|
|
|
—
|
|
|
680
|
|
|
3,618
|
|
|
463
|
|
|
2018
|
|
1979
|
|
237 Franklin Pike Rd SE
|
Flushing, MI
|
|
—
|
|
|
690
|
|
|
1,702
|
|
|
—
|
|
|
690
|
|
|
1,702
|
|
|
105
|
|
|
2018
|
|
1999
|
|
640 Sunnyside Drive
|
Flushing, MI
|
|
—
|
|
|
1,415
|
|
|
8,536
|
|
|
—
|
|
|
1,415
|
|
|
8,536
|
|
|
347
|
|
|
2018
|
|
1967
|
|
540 Sunnyside Drive
|
Forest City, NC
|
|
—
|
|
|
320
|
|
|
4,497
|
|
|
38
|
|
|
320
|
|
|
4,535
|
|
|
2,007
|
|
|
2003
|
|
1999
|
|
493 Piney Ridge Rd.
|
Fort Ashby, WV
|
|
—
|
|
|
330
|
|
|
19,566
|
|
|
356
|
|
|
330
|
|
|
19,922
|
|
|
4,597
|
|
|
2011
|
|
1980
|
|
Diane Drive, Box 686
|
Fort Collins, CO
|
|
—
|
|
|
3,680
|
|
|
58,608
|
|
|
—
|
|
|
3,680
|
|
|
58,608
|
|
|
6,508
|
|
|
2015
|
|
2007
|
|
4750 Pleasant Oak Drive
|
Fort Collins, CO
|
|
—
|
|
|
890
|
|
|
4,532
|
|
|
—
|
|
|
890
|
|
|
4,532
|
|
|
376
|
|
|
2018
|
|
1965
|
|
1005 East Elizabeth
|
Fort Worth, TX
|
|
—
|
|
|
450
|
|
|
13,615
|
|
|
5,086
|
|
|
450
|
|
|
18,701
|
|
|
4,812
|
|
|
2010
|
|
2011
|
|
425 Alabama Ave.
|
Fountain Valley, CA
|
|
—
|
|
|
5,259
|
|
|
9,379
|
|
|
—
|
|
|
5,259
|
|
|
9,379
|
|
|
365
|
|
|
2018
|
|
1988
|
|
11680 Warner Avenue
|
Franconia, NH
|
|
—
|
|
|
360
|
|
|
11,320
|
|
|
70
|
|
|
360
|
|
|
11,390
|
|
|
2,748
|
|
|
2011
|
|
1971
|
|
93 Main Street
|
Fredericksburg, VA
|
|
—
|
|
|
1,000
|
|
|
20,000
|
|
|
2,070
|
|
|
1,000
|
|
|
22,070
|
|
|
7,918
|
|
|
2005
|
|
1999
|
|
3500 Meekins Dr.
|
Fredericksburg, VA
|
|
—
|
|
|
1,130
|
|
|
23,202
|
|
|
—
|
|
|
1,130
|
|
|
23,202
|
|
|
3,363
|
|
|
2014
|
|
2010
|
|
140 Brimley Drive
|
Ft. Myers, FL
|
|
—
|
|
|
1,110
|
|
|
10,562
|
|
|
—
|
|
|
1,110
|
|
|
10,562
|
|
|
422
|
|
|
2018
|
|
1999
|
|
15950 McGregor Boulevard
|
Ft. Myers, FL
|
|
—
|
|
|
2,139
|
|
|
18,240
|
|
|
—
|
|
|
2,139
|
|
|
18,240
|
|
|
713
|
|
|
2018
|
|
1990
|
|
1600 Matthew Drive
|
Ft. Myers, FL
|
|
—
|
|
|
2,502
|
|
|
9,744
|
|
|
—
|
|
|
2,502
|
|
|
9,744
|
|
|
461
|
|
|
2018
|
|
2000
|
|
13881 Eagle Ridge Drive
|
Gainesville, FL
|
|
—
|
|
|
2,374
|
|
|
29,088
|
|
|
—
|
|
|
2,374
|
|
|
29,088
|
|
|
75
|
|
|
2016
|
|
2018
|
|
3605 NW 83rd Street
|
Galesburg, IL
|
|
—
|
|
|
1,708
|
|
|
3,841
|
|
|
—
|
|
|
1,708
|
|
|
3,841
|
|
|
152
|
|
|
2018
|
|
1964
|
|
280 East Losey Street
|
Gardner, KS
|
|
—
|
|
|
200
|
|
|
2,800
|
|
|
93
|
|
|
200
|
|
|
2,893
|
|
|
346
|
|
|
2015
|
|
2000
|
|
869 Juniper Terrace
|
Gastonia, NC
|
|
—
|
|
|
470
|
|
|
6,129
|
|
|
17
|
|
|
470
|
|
|
6,146
|
|
|
2,680
|
|
|
2003
|
|
1998
|
|
1680 S. New Hope Rd.
|
Gastonia, NC
|
|
—
|
|
|
310
|
|
|
3,096
|
|
|
36
|
|
|
310
|
|
|
3,132
|
|
|
1,426
|
|
|
2003
|
|
1994
|
|
1717 Union Rd.
|
Gastonia, NC
|
|
—
|
|
|
400
|
|
|
5,029
|
|
|
202
|
|
|
400
|
|
|
5,231
|
|
|
2,264
|
|
|
2003
|
|
1996
|
|
1750 Robinwood Rd.
|
Geneva, IL
|
|
—
|
|
|
1,502
|
|
|
16,198
|
|
|
—
|
|
|
1,502
|
|
|
16,198
|
|
|
631
|
|
|
2018
|
|
2000
|
|
2388 Bricher Road
|
Georgetown, TX
|
|
—
|
|
|
200
|
|
|
2,100
|
|
|
—
|
|
|
200
|
|
|
2,100
|
|
|
1,227
|
|
|
1997
|
|
1997
|
|
2600 University Dr., E.
|
Gig Harbor, WA
|
|
—
|
|
|
3,000
|
|
|
4,463
|
|
|
—
|
|
|
3,000
|
|
|
4,463
|
|
|
213
|
|
|
2018
|
|
1990
|
|
3309 45th Street Court Northwest
|
Glen Ellyn, IL
|
|
—
|
|
|
1,496
|
|
|
6,636
|
|
|
—
|
|
|
1,496
|
|
|
6,636
|
|
|
288
|
|
|
2018
|
|
2001
|
|
2S706 Park Boulevard
|
Granbury, TX
|
|
—
|
|
|
2,550
|
|
|
2,940
|
|
|
777
|
|
|
2,550
|
|
|
3,717
|
|
|
876
|
|
|
2012
|
|
1996
|
|
916 East Highway 377
|
Granger, IN
|
|
—
|
|
|
1,670
|
|
|
21,280
|
|
|
2,401
|
|
|
1,670
|
|
|
23,681
|
|
|
5,629
|
|
|
2010
|
|
2009
|
|
6330 North Fir Rd
|
Grapevine, TX
|
|
—
|
|
|
2,220
|
|
|
17,648
|
|
|
69
|
|
|
2,220
|
|
|
17,717
|
|
|
2,003
|
|
|
2013
|
|
2014
|
|
4545 Merlot Drive
|
Greeley, CO
|
|
—
|
|
|
1,077
|
|
|
18,051
|
|
|
—
|
|
|
1,077
|
|
|
18,051
|
|
|
1,341
|
|
|
2017
|
|
2009
|
|
5300 West 29th Street
|
Greensboro, NC
|
|
—
|
|
|
330
|
|
|
2,970
|
|
|
594
|
|
|
330
|
|
|
3,564
|
|
|
1,587
|
|
|
2003
|
|
1996
|
|
5809 Old Oak Ridge Rd.
|
Greensboro, NC
|
|
—
|
|
|
560
|
|
|
5,507
|
|
|
1,332
|
|
|
560
|
|
|
6,839
|
|
|
2,921
|
|
|
2003
|
|
1997
|
|
4400 Lawndale Dr.
|
Greenville, SC
|
|
—
|
|
|
310
|
|
|
4,750
|
|
|
—
|
|
|
310
|
|
|
4,750
|
|
|
2,034
|
|
|
2004
|
|
1997
|
|
23 Southpointe Dr.
|
Greenville, SC
|
|
—
|
|
|
1,751
|
|
|
8,774
|
|
|
—
|
|
|
1,751
|
|
|
8,774
|
|
|
351
|
|
|
2018
|
|
1966
|
|
600 Sulphur Springs Road
|
Greenville, SC
|
|
—
|
|
|
947
|
|
|
1,445
|
|
|
—
|
|
|
947
|
|
|
1,445
|
|
|
97
|
|
|
2018
|
|
1976
|
|
601 Sulphur Springs 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Greenville, NC
|
|
—
|
|
|
290
|
|
|
4,393
|
|
|
236
|
|
|
290
|
|
|
4,629
|
|
|
1,989
|
|
|
2003
|
|
1998
|
|
2715 Dickinson Ave.
|
Greenwood, IN
|
|
—
|
|
|
1,550
|
|
|
22,770
|
|
|
81
|
|
|
1,550
|
|
|
22,851
|
|
|
5,530
|
|
|
2010
|
|
2007
|
|
2339 South SR 135
|
Grosse Pointe, MI
|
|
—
|
|
|
867
|
|
|
2,386
|
|
|
—
|
|
|
867
|
|
|
2,386
|
|
|
100
|
|
|
2018
|
|
1964
|
|
21401 Mack Avenue
|
Groton, CT
|
|
—
|
|
|
2,430
|
|
|
19,941
|
|
|
968
|
|
|
2,430
|
|
|
20,909
|
|
|
5,411
|
|
|
2011
|
|
1975
|
|
1145 Poquonnock Road
|
Hamilton, NJ
|
|
—
|
|
|
440
|
|
|
4,469
|
|
|
—
|
|
|
440
|
|
|
4,469
|
|
|
2,098
|
|
|
2001
|
|
1998
|
|
1645 Whitehorse-Mercerville Rd.
|
Hanahan, SC
|
|
—
|
|
|
1,934
|
|
|
3,988
|
|
|
—
|
|
|
1,934
|
|
|
3,988
|
|
|
190
|
|
|
2018
|
|
1989
|
|
1800 Eagle Landing Boulevard
|
Hanford, UK
|
|
—
|
|
|
1,382
|
|
|
9,829
|
|
|
846
|
|
|
1,486
|
|
|
10,571
|
|
|
1,791
|
|
|
2013
|
|
2012
|
|
Bankhouse Road
|
Harrisburg, PA
|
|
—
|
|
|
569
|
|
|
12,826
|
|
|
—
|
|
|
569
|
|
|
12,826
|
|
|
497
|
|
|
2018
|
|
2000
|
|
2625 Ailanthus Lane
|
Harrow, UK
|
|
—
|
|
|
7,402
|
|
|
8,266
|
|
|
1,183
|
|
|
7,961
|
|
|
8,890
|
|
|
1,248
|
|
|
2014
|
|
2001
|
|
177 Preston Hill
|
Hatboro, PA
|
|
—
|
|
|
—
|
|
|
28,112
|
|
|
1,771
|
|
|
—
|
|
|
29,883
|
|
|
6,894
|
|
|
2011
|
|
1996
|
|
3485 Davisville Road
|
Hatboro, PA
|
|
—
|
|
|
1,192
|
|
|
7,611
|
|
|
—
|
|
|
1,192
|
|
|
7,611
|
|
|
402
|
|
|
2018
|
|
2000
|
|
779 West County Line Road
|
Hatfield, UK
|
|
—
|
|
|
2,924
|
|
|
7,527
|
|
|
789
|
|
|
3,145
|
|
|
8,095
|
|
|
1,382
|
|
|
2013
|
|
2012
|
|
St Albans Road East
|
Hattiesburg, MS
|
|
—
|
|
|
450
|
|
|
13,469
|
|
|
—
|
|
|
450
|
|
|
13,469
|
|
|
3,099
|
|
|
2010
|
|
2009
|
|
217 Methodist Hospital Blvd
|
Hemet, CA
|
|
—
|
|
|
6,224
|
|
|
8,414
|
|
|
—
|
|
|
6,224
|
|
|
8,414
|
|
|
339
|
|
|
2018
|
|
1989
|
|
1717 West Stetson Avenue
|
Henry, IL
|
|
—
|
|
|
1,860
|
|
|
3,689
|
|
|
—
|
|
|
1,860
|
|
|
3,689
|
|
|
141
|
|
|
2018
|
|
1987
|
|
1650 Old Indian Town Road
|
Hermitage, TN
|
|
—
|
|
|
1,500
|
|
|
9,943
|
|
|
540
|
|
|
1,500
|
|
|
10,483
|
|
|
2,212
|
|
|
2011
|
|
2006
|
|
4131 Andrew Jackson Parkway
|
Herne Bay, UK
|
|
—
|
|
|
1,900
|
|
|
24,353
|
|
|
2,726
|
|
|
2,043
|
|
|
26,936
|
|
|
4,843
|
|
|
2013
|
|
2011
|
|
165 Reculver Road
|
Hiawatha, KS
|
|
—
|
|
|
40
|
|
|
4,210
|
|
|
29
|
|
|
40
|
|
|
4,239
|
|
|
495
|
|
|
2015
|
|
1996
|
|
400 Kansas Ave
|
Hickory, NC
|
|
—
|
|
|
290
|
|
|
987
|
|
|
312
|
|
|
290
|
|
|
1,299
|
|
|
673
|
|
|
2003
|
|
1994
|
|
2530 16th St. N.E.
|
High Point, NC
|
|
—
|
|
|
560
|
|
|
4,443
|
|
|
848
|
|
|
560
|
|
|
5,291
|
|
|
2,327
|
|
|
2003
|
|
2000
|
|
1568 Skeet Club Rd.
|
High Point, NC
|
|
—
|
|
|
370
|
|
|
2,185
|
|
|
451
|
|
|
370
|
|
|
2,636
|
|
|
1,207
|
|
|
2003
|
|
1999
|
|
1564 Skeet Club Rd.
|
High Point, NC
|
|
—
|
|
|
330
|
|
|
3,395
|
|
|
108
|
|
|
330
|
|
|
3,503
|
|
|
1,530
|
|
|
2003
|
|
1994
|
|
201 W. Hartley Dr.
|
High Point, NC
|
|
—
|
|
|
430
|
|
|
4,143
|
|
|
36
|
|
|
430
|
|
|
4,179
|
|
|
1,840
|
|
|
2003
|
|
1998
|
|
1560 Skeet Club Rd.
|
Highlands Ranch, CO
|
|
—
|
|
|
940
|
|
|
3,721
|
|
|
4,983
|
|
|
940
|
|
|
8,704
|
|
|
2,516
|
|
|
2002
|
|
1999
|
|
9160 S. University Blvd.
|
Hillsboro, OH
|
|
—
|
|
|
1,792
|
|
|
6,341
|
|
|
—
|
|
|
1,792
|
|
|
6,341
|
|
|
347
|
|
|
2018
|
|
1983
|
|
1141 Northview Drive
|
Hinckley, UK
|
|
—
|
|
|
2,159
|
|
|
4,194
|
|
|
480
|
|
|
2,322
|
|
|
4,511
|
|
|
843
|
|
|
2013
|
|
2013
|
|
Tudor Road
|
Hindhead, UK
|
|
39,141
|
|
|
17,852
|
|
|
48,645
|
|
|
5,405
|
|
|
19,200
|
|
|
52,702
|
|
|
4,171
|
|
|
2016
|
|
2012
|
|
Portsmouth Road
|
Hinsdale, IL
|
|
—
|
|
|
4,033
|
|
|
24,287
|
|
|
—
|
|
|
4,033
|
|
|
24,287
|
|
|
894
|
|
|
2018
|
|
1971
|
|
600 W Ogden Avenue
|
Hockessin, DE
|
|
—
|
|
|
1,120
|
|
|
6,308
|
|
|
1,247
|
|
|
1,120
|
|
|
7,555
|
|
|
1,163
|
|
|
2014
|
|
1992
|
|
100 Saint Claire Drive
|
Holton, KS
|
|
—
|
|
|
40
|
|
|
7,460
|
|
|
13
|
|
|
40
|
|
|
7,473
|
|
|
814
|
|
|
2015
|
|
1996
|
|
410 Juniper Dr
|
Homewood, IL
|
|
—
|
|
|
2,395
|
|
|
7,652
|
|
|
—
|
|
|
2,395
|
|
|
7,652
|
|
|
288
|
|
|
2018
|
|
1989
|
|
940 Maple Avenue
|
Howard, WI
|
|
—
|
|
|
579
|
|
|
32,122
|
|
|
10
|
|
|
579
|
|
|
32,132
|
|
|
2,040
|
|
|
2017
|
|
2016
|
|
2790 Elm Tree Hill
|
Huntingdon Valley, PA
|
|
—
|
|
|
1,150
|
|
|
3,730
|
|
|
—
|
|
|
1,150
|
|
|
3,730
|
|
|
209
|
|
|
2018
|
|
1993
|
|
3430 Huntingdon Pike
|
Hutchinson, KS
|
|
—
|
|
|
600
|
|
|
10,590
|
|
|
194
|
|
|
600
|
|
|
10,784
|
|
|
4,242
|
|
|
2004
|
|
1997
|
|
2416 Brentwood
|
Independence, VA
|
|
—
|
|
|
1,082
|
|
|
6,767
|
|
|
—
|
|
|
1,082
|
|
|
6,767
|
|
|
829
|
|
|
2018
|
|
1998
|
|
400 S Independence Ave
|
Indianapolis, IN
|
|
—
|
|
|
870
|
|
|
14,688
|
|
|
—
|
|
|
870
|
|
|
14,688
|
|
|
2,283
|
|
|
2014
|
|
2014
|
|
1635 N Arlington Avenue
|
Indianapolis, IN
|
|
—
|
|
|
1,105
|
|
|
6,645
|
|
|
—
|
|
|
1,105
|
|
|
6,645
|
|
|
252
|
|
|
2018
|
|
1979
|
|
8549 South Madison Avenue
|
Jackson, NJ
|
|
—
|
|
|
6,500
|
|
|
26,405
|
|
|
3,107
|
|
|
6,500
|
|
|
29,512
|
|
|
5,334
|
|
|
2012
|
|
2001
|
|
2 Kathleen Drive
|
Jacksonville, FL
|
|
—
|
|
|
750
|
|
|
25,231
|
|
|
111
|
|
|
750
|
|
|
25,342
|
|
|
2,303
|
|
|
2013
|
|
2014
|
|
5939 Roosevelt Boulevard
|
Jacksonville, FL
|
|
—
|
|
|
—
|
|
|
26,381
|
|
|
1,801
|
|
|
1,691
|
|
|
26,491
|
|
|
2,403
|
|
|
2013
|
|
2014
|
|
4000 San Pablo Parkway
|
Jacksonville, FL
|
|
—
|
|
|
1,752
|
|
|
2,553
|
|
|
—
|
|
|
1,752
|
|
|
2,553
|
|
|
102
|
|
|
2018
|
|
1989
|
|
3648 University Blvd South
|
Jacksonville, FL
|
|
—
|
|
|
2,182
|
|
|
9,491
|
|
|
—
|
|
|
2,182
|
|
|
9,491
|
|
|
406
|
|
|
2018
|
|
1980
|
|
8495 Normandy Blvd
|
Jefferson Hills, PA
|
|
—
|
|
|
2,265
|
|
|
13,618
|
|
|
—
|
|
|
2,265
|
|
|
13,618
|
|
|
771
|
|
|
2018
|
|
1997
|
|
380 Wray Large Road
|
Jersey Shore, PA
|
|
—
|
|
|
600
|
|
|
8,107
|
|
|
—
|
|
|
600
|
|
|
8,107
|
|
|
294
|
|
|
2018
|
|
1973
|
|
1008 Thompson Street
|
Kansas City, KS
|
|
—
|
|
|
700
|
|
|
20,115
|
|
|
—
|
|
|
700
|
|
|
20,115
|
|
|
2,322
|
|
|
2015
|
|
2015
|
|
8900 Parallel Parkway
|
(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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Katy, TX
|
|
—
|
|
|
1,778
|
|
|
22,622
|
|
|
—
|
|
|
1,778
|
|
|
22,622
|
|
|
1,707
|
|
|
2017
|
|
2015
|
|
24802 Kingsland Boulevard
|
Kensington, MD
|
|
—
|
|
|
1,753
|
|
|
18,626
|
|
|
—
|
|
|
1,753
|
|
|
18,626
|
|
|
699
|
|
|
2018
|
|
2002
|
|
4301 Knowles Avenue
|
Kenwood, OH
|
|
—
|
|
|
821
|
|
|
11,043
|
|
|
—
|
|
|
821
|
|
|
11,043
|
|
|
428
|
|
|
2018
|
|
2000
|
|
4580 East Galbraith Road
|
Kettering, OH
|
|
—
|
|
|
1,229
|
|
|
4,703
|
|
|
—
|
|
|
1,229
|
|
|
4,703
|
|
|
207
|
|
|
2018
|
|
1977
|
|
3313 Wilmington Pike
|
King of Prussia, PA
|
|
—
|
|
|
720
|
|
|
14,780
|
|
|
—
|
|
|
720
|
|
|
14,780
|
|
|
594
|
|
|
2018
|
|
1995
|
|
620 West Valley Forge Road
|
King of Prussia, PA
|
|
—
|
|
|
1,205
|
|
|
4,727
|
|
|
—
|
|
|
1,205
|
|
|
4,727
|
|
|
225
|
|
|
2018
|
|
1990
|
|
600 West Valley Forge Road
|
Kingsford, MI
|
|
—
|
|
|
1,362
|
|
|
10,598
|
|
|
—
|
|
|
1,362
|
|
|
10,598
|
|
|
428
|
|
|
2018
|
|
1968
|
|
1225 Woodward Avenue
|
Kingston, PA
|
|
—
|
|
|
986
|
|
|
5,711
|
|
|
—
|
|
|
986
|
|
|
5,711
|
|
|
225
|
|
|
2018
|
|
1974
|
|
200 Second Avenue
|
Kingston upon Thames, UK
|
|
71,089
|
|
|
33,063
|
|
|
46,696
|
|
|
6,439
|
|
|
35,561
|
|
|
50,637
|
|
|
4,056
|
|
|
2016
|
|
2014
|
|
Coombe Lane West
|
Kirkstall, UK
|
|
—
|
|
|
2,437
|
|
|
9,414
|
|
|
896
|
|
|
2,621
|
|
|
10,126
|
|
|
1,720
|
|
|
2013
|
|
2009
|
|
29 Broad Lane
|
Kokomo, IN
|
|
—
|
|
|
710
|
|
|
16,044
|
|
|
—
|
|
|
710
|
|
|
16,044
|
|
|
2,488
|
|
|
2014
|
|
2014
|
|
2200 S. Dixon Rd
|
Lacey, WA
|
|
—
|
|
|
2,582
|
|
|
18,180
|
|
|
—
|
|
|
2,582
|
|
|
18,180
|
|
|
692
|
|
|
2018
|
|
2012
|
|
4524 Intelco Loop SE
|
Lafayette, CO
|
|
—
|
|
|
1,420
|
|
|
20,192
|
|
|
—
|
|
|
1,420
|
|
|
20,192
|
|
|
2,572
|
|
|
2015
|
|
2015
|
|
329 Exempla Circle
|
Lafayette, IN
|
|
—
|
|
|
670
|
|
|
16,833
|
|
|
1
|
|
|
670
|
|
|
16,834
|
|
|
2,368
|
|
|
2015
|
|
2014
|
|
2402 South Street
|
Lakeway, TX
|
|
—
|
|
|
5,142
|
|
|
23,203
|
|
|
—
|
|
|
5,142
|
|
|
23,203
|
|
|
3,995
|
|
|
2007
|
|
2011
|
|
2000 Medical Dr
|
Lakewood, CO
|
|
—
|
|
|
2,160
|
|
|
28,091
|
|
|
62
|
|
|
2,160
|
|
|
28,153
|
|
|
4,299
|
|
|
2014
|
|
2010
|
|
7395 West Eastman Place
|
Lakewood Ranch, FL
|
|
—
|
|
|
650
|
|
|
6,714
|
|
|
1,988
|
|
|
650
|
|
|
8,702
|
|
|
1,726
|
|
|
2011
|
|
2012
|
|
8230 Nature's Way
|
Lakewood Ranch, FL
|
|
—
|
|
|
1,000
|
|
|
22,388
|
|
|
86
|
|
|
1,000
|
|
|
22,474
|
|
|
4,410
|
|
|
2012
|
|
2005
|
|
8220 Natures Way
|
Lancaster, PA
|
|
—
|
|
|
1,680
|
|
|
14,039
|
|
|
—
|
|
|
1,680
|
|
|
14,039
|
|
|
1,159
|
|
|
2015
|
|
2017
|
|
31 Millersville Road
|
Lancaster, PA
|
|
—
|
|
|
1,011
|
|
|
7,504
|
|
|
—
|
|
|
1,011
|
|
|
7,504
|
|
|
296
|
|
|
2018
|
|
1966
|
|
100 Abbeyville Road
|
Largo, FL
|
|
—
|
|
|
1,166
|
|
|
3,427
|
|
|
—
|
|
|
1,166
|
|
|
3,427
|
|
|
175
|
|
|
2018
|
|
1997
|
|
300 Highland Avenue Northeast
|
Las Vegas, NV
|
|
—
|
|
|
580
|
|
|
23,420
|
|
|
—
|
|
|
580
|
|
|
23,420
|
|
|
5,220
|
|
|
2011
|
|
2002
|
|
2500 North Tenaya Way
|
Laureldale, PA
|
|
—
|
|
|
1,171
|
|
|
14,424
|
|
|
—
|
|
|
1,171
|
|
|
14,424
|
|
|
549
|
|
|
2018
|
|
1980
|
|
2125 Elizabeth Avenue
|
Lawrence, KS
|
|
—
|
|
|
250
|
|
|
8,716
|
|
|
—
|
|
|
250
|
|
|
8,716
|
|
|
1,697
|
|
|
2012
|
|
1996
|
|
3220 Peterson Road
|
Lebanon, PA
|
|
—
|
|
|
728
|
|
|
10,370
|
|
|
—
|
|
|
728
|
|
|
10,370
|
|
|
432
|
|
|
2018
|
|
1998
|
|
100 Tuck Court
|
Lebanon, PA
|
|
—
|
|
|
1,214
|
|
|
5,962
|
|
|
—
|
|
|
1,214
|
|
|
5,962
|
|
|
278
|
|
|
2018
|
|
1980
|
|
900 Tuck Street
|
Lee, MA
|
|
—
|
|
|
290
|
|
|
18,135
|
|
|
926
|
|
|
290
|
|
|
19,061
|
|
|
8,860
|
|
|
2002
|
|
1998
|
|
600 & 620 Laurel St.
|
Leeds, UK
|
|
—
|
|
|
1,974
|
|
|
13,239
|
|
|
1,149
|
|
|
2,123
|
|
|
14,239
|
|
|
1,728
|
|
|
2015
|
|
2013
|
|
100 Grove Lane
|
Leicester, UK
|
|
—
|
|
|
3,060
|
|
|
24,410
|
|
|
2,075
|
|
|
3,291
|
|
|
26,254
|
|
|
4,798
|
|
|
2012
|
|
2010
|
|
307 London Road
|
Lenoir, NC
|
|
—
|
|
|
190
|
|
|
3,748
|
|
|
718
|
|
|
190
|
|
|
4,466
|
|
|
1,945
|
|
|
2003
|
|
1998
|
|
1145 Powell Rd., N.E.
|
Lethbridge, AB
|
|
1,305
|
|
|
1,214
|
|
|
2,750
|
|
|
279
|
|
|
1,296
|
|
|
2,947
|
|
|
554
|
|
|
2014
|
|
2003
|
|
785 Columbia Boulevard West
|
Lexana, KS
|
|
—
|
|
|
480
|
|
|
1,770
|
|
|
152
|
|
|
480
|
|
|
1,922
|
|
|
247
|
|
|
2015
|
|
1994
|
|
8710 Caenen Lake Rd
|
Lexington, NC
|
|
—
|
|
|
200
|
|
|
3,900
|
|
|
1,090
|
|
|
200
|
|
|
4,990
|
|
|
2,243
|
|
|
2002
|
|
1997
|
|
161 Young Dr.
|
Libertyville, IL
|
|
—
|
|
|
6,500
|
|
|
40,024
|
|
|
—
|
|
|
6,500
|
|
|
40,024
|
|
|
9,587
|
|
|
2011
|
|
2001
|
|
901 Florsheim Dr
|
Libertyville, IL
|
|
—
|
|
|
2,993
|
|
|
11,550
|
|
|
—
|
|
|
2,993
|
|
|
11,550
|
|
|
431
|
|
|
2018
|
|
1988
|
|
1500 South Milwaukee
|
Lichfield, UK
|
|
—
|
|
|
1,382
|
|
|
30,324
|
|
|
2,395
|
|
|
1,486
|
|
|
32,615
|
|
|
3,979
|
|
|
2015
|
|
2012
|
|
Wissage Road
|
Lillington, NC
|
|
—
|
|
|
470
|
|
|
17,579
|
|
|
—
|
|
|
470
|
|
|
17,579
|
|
|
2,626
|
|
|
2014
|
|
2013
|
|
54 Red Mulberry Way
|
Lillington, NC
|
|
—
|
|
|
500
|
|
|
16,451
|
|
|
—
|
|
|
500
|
|
|
16,451
|
|
|
2,307
|
|
|
2014
|
|
1999
|
|
2041 NC-210 N
|
Lincoln, NE
|
|
—
|
|
|
390
|
|
|
13,807
|
|
|
95
|
|
|
390
|
|
|
13,902
|
|
|
3,519
|
|
|
2010
|
|
2000
|
|
7208 Van Dorn St.
|
Lititz, PA
|
|
—
|
|
|
1,200
|
|
|
13,836
|
|
|
—
|
|
|
1,200
|
|
|
13,836
|
|
|
1,144
|
|
|
2015
|
|
2016
|
|
80 West Millport Road
|
Livermore, CA
|
|
—
|
|
|
4,100
|
|
|
24,996
|
|
|
—
|
|
|
4,100
|
|
|
24,996
|
|
|
3,276
|
|
|
2014
|
|
1974
|
|
35 Fenton Street
|
Livonia, MI
|
|
—
|
|
|
985
|
|
|
13,558
|
|
|
—
|
|
|
985
|
|
|
13,558
|
|
|
544
|
|
|
2018
|
|
1999
|
|
32500 Seven Mile Road
|
Livonia, MI
|
|
—
|
|
|
1,836
|
|
|
2,278
|
|
|
—
|
|
|
1,836
|
|
|
2,278
|
|
|
109
|
|
|
2018
|
|
1960
|
|
28550 Five Mile Road
|
Longview, TX
|
|
—
|
|
|
610
|
|
|
5,520
|
|
|
—
|
|
|
610
|
|
|
5,520
|
|
|
1,873
|
|
|
2006
|
|
2007
|
|
311 E Hawkins Pkwy
|
Longwood, FL
|
|
—
|
|
|
1,260
|
|
|
6,445
|
|
|
—
|
|
|
1,260
|
|
|
6,445
|
|
|
1,552
|
|
|
2011
|
|
2011
|
|
425 South Ronald Reagan 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
|
|||||||
Triple-net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Los Angeles, CA
|
|
—
|
|
|
—
|
|
|
11,430
|
|
|
1,050
|
|
|
—
|
|
|
12,480
|
|
|
3,242
|
|
|
2008
|
|
1971
|
|
330 North Hayworth Avenue
|
Louisburg, KS
|
|
—
|
|
|
280
|
|
|
4,320
|
|
|
44
|
|
|
280
|
|
|
4,364
|
|
|
481
|
|
|
2015
|
|
1996
|
|
202 Rogers St
|
Louisville, KY
|
|
—
|
|
|
490
|
|
|
10,010
|
|
|
2,768
|
|
|
490
|
|
|
12,778
|
|
|
5,144
|
|
|
2005
|
|
1978
|
|
4604 Lowe Rd
|
Loxley, UK
|
|
—
|
|
|
1,369
|
|
|
15,668
|
|
|
1,288
|
|
|
1,473
|
|
|
16,852
|
|
|
3,003
|
|
|
2013
|
|
2008
|
|
Loxley Road
|
Lutherville, MD
|
|
—
|
|
|
1,100
|
|
|
19,786
|
|
|
1,744
|
|
|
1,100
|
|
|
21,530
|
|
|
5,068
|
|
|
2011
|
|
1988
|
|
515 Brightfield Road
|
Lynchburg, VA
|
|
—
|
|
|
340
|
|
|
16,114
|
|
|
—
|
|
|
340
|
|
|
16,114
|
|
|
2,444
|
|
|
2014
|
|
2013
|
|
189 Monica Blvd
|
Lynchburg, VA
|
|
—
|
|
|
2,904
|
|
|
3,697
|
|
|
—
|
|
|
2,904
|
|
|
3,697
|
|
|
144
|
|
|
2018
|
|
1978
|
|
2200 Landover Place
|
Lynnwood, WA
|
|
—
|
|
|
2,302
|
|
|
5,634
|
|
|
—
|
|
|
2,302
|
|
|
5,634
|
|
|
222
|
|
|
2018
|
|
1987
|
|
3701 188th Street
|
Macomb, IL
|
|
—
|
|
|
1,586
|
|
|
4,059
|
|
|
—
|
|
|
1,586
|
|
|
4,059
|
|
|
153
|
|
|
2018
|
|
1966
|
|
8 Doctors Lane
|
Macungie, PA
|
|
—
|
|
|
960
|
|
|
29,033
|
|
|
84
|
|
|
960
|
|
|
29,117
|
|
|
6,833
|
|
|
2011
|
|
1994
|
|
1718 Spring Creek Road
|
Manalapan, NJ
|
|
—
|
|
|
900
|
|
|
22,624
|
|
|
760
|
|
|
900
|
|
|
23,384
|
|
|
5,094
|
|
|
2011
|
|
2001
|
|
445 Route 9 South
|
Manassas, VA
|
|
—
|
|
|
750
|
|
|
7,446
|
|
|
1,069
|
|
|
750
|
|
|
8,515
|
|
|
3,285
|
|
|
2003
|
|
1996
|
|
8341 Barrett Dr.
|
Mankato, MN
|
|
—
|
|
|
1,460
|
|
|
32,104
|
|
|
300
|
|
|
1,460
|
|
|
32,404
|
|
|
3,451
|
|
|
2015
|
|
2006
|
|
100 Dublin Road
|
Mansfield, TX
|
|
—
|
|
|
660
|
|
|
5,251
|
|
|
—
|
|
|
660
|
|
|
5,251
|
|
|
1,802
|
|
|
2006
|
|
2007
|
|
2281 Country Club Dr
|
Marietta, OH
|
|
—
|
|
|
1,149
|
|
|
9,376
|
|
|
—
|
|
|
1,149
|
|
|
9,376
|
|
|
362
|
|
|
2018
|
|
1977
|
|
5001 State Route 60
|
Marietta, GA
|
|
—
|
|
|
2,406
|
|
|
12,233
|
|
|
—
|
|
|
2,406
|
|
|
12,233
|
|
|
462
|
|
|
2018
|
|
1980
|
|
4360 Johnson Ferry Place
|
Marietta, PA
|
|
—
|
|
|
1,050
|
|
|
13,633
|
|
|
463
|
|
|
1,050
|
|
|
14,096
|
|
|
1,585
|
|
|
2015
|
|
1999
|
|
2760 Maytown Road
|
Marion, IN
|
|
—
|
|
|
720
|
|
|
12,750
|
|
|
1,136
|
|
|
720
|
|
|
13,886
|
|
|
2,086
|
|
|
2014
|
|
2012
|
|
614 W. 14th Street
|
Marion, IN
|
|
—
|
|
|
990
|
|
|
9,190
|
|
|
824
|
|
|
990
|
|
|
10,014
|
|
|
1,782
|
|
|
2014
|
|
1976
|
|
505 N. Bradner Avenue
|
Marion, OH
|
|
—
|
|
|
2,768
|
|
|
17,420
|
|
|
—
|
|
|
2,768
|
|
|
17,420
|
|
|
856
|
|
|
2018
|
|
2004
|
|
400 Barks Road West
|
Marlborough, UK
|
|
—
|
|
|
2,677
|
|
|
6,822
|
|
|
718
|
|
|
2,879
|
|
|
7,338
|
|
|
1,006
|
|
|
2014
|
|
1999
|
|
The Common
|
Marlow, UK
|
|
—
|
|
|
9,068
|
|
|
39,720
|
|
|
1,970
|
|
|
9,434
|
|
|
41,324
|
|
|
4,037
|
|
|
2013
|
|
2014
|
|
210 Little Marlow Road
|
Martinsville, VA
|
|
—
|
|
|
349
|
|
|
—
|
|
|
—
|
|
|
349
|
|
|
—
|
|
|
—
|
|
|
2003
|
|
1900
|
|
Rolling Hills Rd. & US Hwy. 58
|
Matawan, NJ
|
|
—
|
|
|
1,830
|
|
|
20,618
|
|
|
166
|
|
|
1,830
|
|
|
20,784
|
|
|
4,764
|
|
|
2011
|
|
1965
|
|
625 State Highway 34
|
Matthews, NC
|
|
—
|
|
|
560
|
|
|
4,738
|
|
|
39
|
|
|
560
|
|
|
4,777
|
|
|
2,141
|
|
|
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
|
|
|
2,096
|
|
|
2009
|
|
2010
|
|
2701 Alma Rd.
|
McMurray, PA
|
|
—
|
|
|
1,440
|
|
|
15,805
|
|
|
3,894
|
|
|
1,440
|
|
|
19,699
|
|
|
4,190
|
|
|
2010
|
|
2011
|
|
240 Cedar Hill Dr
|
Medicine Hat, AB
|
|
2,144
|
|
|
932
|
|
|
5,566
|
|
|
450
|
|
|
995
|
|
|
5,953
|
|
|
889
|
|
|
2014
|
|
1999
|
|
65 Valleyview Drive SW
|
Mentor, OH
|
|
—
|
|
|
1,827
|
|
|
9,941
|
|
|
—
|
|
|
1,827
|
|
|
9,941
|
|
|
389
|
|
|
2018
|
|
1985
|
|
8200 Mentor Hills Drive
|
Mercerville, NJ
|
|
—
|
|
|
860
|
|
|
9,929
|
|
|
173
|
|
|
860
|
|
|
10,102
|
|
|
2,619
|
|
|
2011
|
|
1967
|
|
2240 White Horse- Merceville Road
|
Meriden, CT
|
|
—
|
|
|
1,300
|
|
|
1,472
|
|
|
233
|
|
|
1,300
|
|
|
1,705
|
|
|
848
|
|
|
2011
|
|
1968
|
|
845 Paddock Ave
|
Miamisburg, OH
|
|
—
|
|
|
786
|
|
|
3,233
|
|
|
—
|
|
|
786
|
|
|
3,233
|
|
|
178
|
|
|
2018
|
|
1983
|
|
450 Oak Ridge Boulevard
|
Middleburg Heights, OH
|
|
—
|
|
|
960
|
|
|
7,780
|
|
|
427
|
|
|
960
|
|
|
8,207
|
|
|
3,134
|
|
|
2004
|
|
1998
|
|
15435 Bagley Rd.
|
Middleton, WI
|
|
—
|
|
|
420
|
|
|
4,006
|
|
|
600
|
|
|
420
|
|
|
4,606
|
|
|
2,028
|
|
|
2001
|
|
1991
|
|
6701 Stonefield Rd.
|
Milton Keynes, UK
|
|
—
|
|
|
1,826
|
|
|
18,654
|
|
|
1,547
|
|
|
1,964
|
|
|
20,063
|
|
|
2,520
|
|
|
2015
|
|
2007
|
|
Tunbridge Grove, Kents Hill
|
Minnetonka, MN
|
|
—
|
|
|
2,080
|
|
|
24,360
|
|
|
1,554
|
|
|
2,080
|
|
|
25,914
|
|
|
6,078
|
|
|
2012
|
|
1999
|
|
500 Carlson Parkway
|
Mishawaka, IN
|
|
—
|
|
|
740
|
|
|
16,113
|
|
|
—
|
|
|
740
|
|
|
16,113
|
|
|
2,565
|
|
|
2014
|
|
2013
|
|
60257 Bodnar Blvd
|
Moline, IL
|
|
—
|
|
|
2,946
|
|
|
18,677
|
|
|
—
|
|
|
2,946
|
|
|
18,677
|
|
|
682
|
|
|
2018
|
|
1964
|
|
833 Sixteenth Avenue
|
Monmouth Junction, NJ
|
|
—
|
|
|
720
|
|
|
6,209
|
|
|
86
|
|
|
720
|
|
|
6,295
|
|
|
1,721
|
|
|
2011
|
|
1996
|
|
2 Deer Park Drive
|
Monroe, NC
|
|
—
|
|
|
470
|
|
|
3,681
|
|
|
788
|
|
|
470
|
|
|
4,469
|
|
|
1,950
|
|
|
2003
|
|
2001
|
|
918 Fitzgerald St.
|
Monroe, NC
|
|
—
|
|
|
310
|
|
|
4,799
|
|
|
883
|
|
|
310
|
|
|
5,682
|
|
|
2,450
|
|
|
2003
|
|
2000
|
|
919 Fitzgerald St.
|
Monroe, NC
|
|
—
|
|
|
450
|
|
|
4,021
|
|
|
154
|
|
|
450
|
|
|
4,175
|
|
|
1,860
|
|
|
2003
|
|
1997
|
|
1316 Patterson Ave.
|
Monroe Township, NJ
|
|
—
|
|
|
3,250
|
|
|
27,771
|
|
|
765
|
|
|
3,250
|
|
|
28,536
|
|
|
2,966
|
|
|
2015
|
|
1996
|
|
319 Forsgate Drive
|
Monroeville, PA
|
|
—
|
|
|
1,216
|
|
|
12,753
|
|
|
—
|
|
|
1,216
|
|
|
12,753
|
|
|
593
|
|
|
2018
|
|
1997
|
|
120 Wyngate 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
|
|||||||
Triple-net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Monroeville, PA
|
|
—
|
|
|
1,237
|
|
|
3,642
|
|
|
—
|
|
|
1,237
|
|
|
3,642
|
|
|
225
|
|
|
2018
|
|
1996
|
|
885 MacBeth Drive
|
Montgomeryville, PA
|
|
—
|
|
|
1,176
|
|
|
9,827
|
|
|
—
|
|
|
1,176
|
|
|
9,827
|
|
|
404
|
|
|
2018
|
|
1989
|
|
640 Bethlehem Pike
|
Montville, NJ
|
|
—
|
|
|
3,500
|
|
|
31,002
|
|
|
1,699
|
|
|
3,500
|
|
|
32,701
|
|
|
7,173
|
|
|
2011
|
|
1988
|
|
165 Changebridge Rd.
|
Moorestown, NJ
|
|
—
|
|
|
4,143
|
|
|
23,902
|
|
|
—
|
|
|
4,143
|
|
|
23,902
|
|
|
3,947
|
|
|
2012
|
|
2014
|
|
250 Marter Avenue
|
Morehead City, NC
|
|
—
|
|
|
200
|
|
|
3,104
|
|
|
1,701
|
|
|
200
|
|
|
4,805
|
|
|
2,371
|
|
|
1999
|
|
1999
|
|
107 Bryan St.
|
Morrison, CO
|
|
—
|
|
|
2,720
|
|
|
16,261
|
|
|
—
|
|
|
2,720
|
|
|
16,261
|
|
|
1,359
|
|
|
2018
|
|
1974
|
|
150 Spring Street
|
Moulton, UK
|
|
—
|
|
|
1,695
|
|
|
12,510
|
|
|
1,611
|
|
|
1,662
|
|
|
14,154
|
|
|
960
|
|
|
2017
|
|
1995
|
|
Northampton Lane North
|
Mountainside, NJ
|
|
—
|
|
|
3,097
|
|
|
7,810
|
|
|
—
|
|
|
3,097
|
|
|
7,810
|
|
|
309
|
|
|
2018
|
|
1988
|
|
1180 Route 22
|
Nacogdoches, TX
|
|
—
|
|
|
390
|
|
|
5,754
|
|
|
—
|
|
|
390
|
|
|
5,754
|
|
|
1,948
|
|
|
2006
|
|
2007
|
|
5902 North St
|
Naperville, IL
|
|
—
|
|
|
3,470
|
|
|
29,547
|
|
|
—
|
|
|
3,470
|
|
|
29,547
|
|
|
7,214
|
|
|
2011
|
|
2001
|
|
504 North River Road
|
Naples, FL
|
|
—
|
|
|
1,222
|
|
|
10,642
|
|
|
—
|
|
|
1,222
|
|
|
10,642
|
|
|
441
|
|
|
2018
|
|
1998
|
|
6125 Rattlesnake Hammock Road
|
Naples, FL
|
|
—
|
|
|
1,672
|
|
|
23,126
|
|
|
—
|
|
|
1,672
|
|
|
23,126
|
|
|
1,068
|
|
|
2018
|
|
1993
|
|
1000 Lely Palms Drive
|
Naples, FL
|
|
—
|
|
|
1,854
|
|
|
12,402
|
|
|
—
|
|
|
1,854
|
|
|
12,402
|
|
|
463
|
|
|
2018
|
|
1987
|
|
3601 Lakewood Boulevard
|
Nashville, TN
|
|
—
|
|
|
4,910
|
|
|
29,590
|
|
|
—
|
|
|
4,910
|
|
|
29,590
|
|
|
9,113
|
|
|
2008
|
|
2007
|
|
15 Burton Hills Boulevard
|
Naugatuck, CT
|
|
—
|
|
|
1,200
|
|
|
15,826
|
|
|
199
|
|
|
1,200
|
|
|
16,025
|
|
|
3,931
|
|
|
2011
|
|
1980
|
|
4 Hazel Avenue
|
Needham, MA
|
|
—
|
|
|
1,610
|
|
|
12,667
|
|
|
—
|
|
|
1,610
|
|
|
12,667
|
|
|
5,644
|
|
|
2002
|
|
1994
|
|
100 West St.
|
New Lenox, IL
|
|
—
|
|
|
1,225
|
|
|
21,575
|
|
|
—
|
|
|
1,225
|
|
|
21,575
|
|
|
429
|
|
|
2019
|
|
2007
|
|
1023 South Cedar Rd
|
New Moston, UK
|
|
—
|
|
|
1,480
|
|
|
4,378
|
|
|
443
|
|
|
1,592
|
|
|
4,709
|
|
|
833
|
|
|
2013
|
|
2010
|
|
90a Broadway
|
Newark, DE
|
|
—
|
|
|
560
|
|
|
21,220
|
|
|
2,422
|
|
|
560
|
|
|
23,642
|
|
|
8,621
|
|
|
2004
|
|
1998
|
|
200 E. Village Rd.
|
Newcastle Under Lyme, UK
|
|
—
|
|
|
1,110
|
|
|
5,655
|
|
|
512
|
|
|
1,194
|
|
|
6,083
|
|
|
1,028
|
|
|
2013
|
|
2010
|
|
Hempstalls Lane
|
Newcastle-under-Lyme, UK
|
|
—
|
|
|
1,125
|
|
|
5,537
|
|
|
503
|
|
|
1,210
|
|
|
5,955
|
|
|
817
|
|
|
2014
|
|
1999
|
|
Silverdale Road
|
Newport News, VA
|
|
—
|
|
|
839
|
|
|
6,077
|
|
|
—
|
|
|
839
|
|
|
6,077
|
|
|
739
|
|
|
2018
|
|
1998
|
|
12997 Nettles Dr
|
Norman, OK
|
|
—
|
|
|
55
|
|
|
1,484
|
|
|
—
|
|
|
55
|
|
|
1,484
|
|
|
969
|
|
|
1995
|
|
1995
|
|
1701 Alameda Dr.
|
Norman, OK
|
|
—
|
|
|
1,480
|
|
|
33,330
|
|
|
—
|
|
|
1,480
|
|
|
33,330
|
|
|
6,428
|
|
|
2012
|
|
1985
|
|
800 Canadian Trails Drive
|
North Augusta, SC
|
|
—
|
|
|
332
|
|
|
2,558
|
|
|
—
|
|
|
332
|
|
|
2,558
|
|
|
1,407
|
|
|
1999
|
|
1998
|
|
105 North Hills Dr.
|
Northampton, UK
|
|
—
|
|
|
5,182
|
|
|
17,348
|
|
|
1,702
|
|
|
5,573
|
|
|
18,659
|
|
|
3,277
|
|
|
2013
|
|
2011
|
|
Cliftonville Road
|
Northampton, UK
|
|
—
|
|
|
2,013
|
|
|
6,257
|
|
|
626
|
|
|
2,166
|
|
|
6,730
|
|
|
869
|
|
|
2014
|
|
2014
|
|
Cliftonville Road
|
Northbrook, IL
|
|
—
|
|
|
1,298
|
|
|
13,341
|
|
|
—
|
|
|
1,298
|
|
|
13,341
|
|
|
510
|
|
|
2018
|
|
1999
|
|
3240 Milwaukee Avenue
|
Nuneaton, UK
|
|
—
|
|
|
3,325
|
|
|
8,983
|
|
|
929
|
|
|
3,576
|
|
|
9,661
|
|
|
1,634
|
|
|
2013
|
|
2011
|
|
132 Coventry Road
|
Nuthall, UK
|
|
—
|
|
|
1,628
|
|
|
6,263
|
|
|
597
|
|
|
1,752
|
|
|
6,736
|
|
|
856
|
|
|
2014
|
|
2014
|
|
172A Nottingham Road
|
Nuthall, UK
|
|
—
|
|
|
2,498
|
|
|
10,436
|
|
|
977
|
|
|
2,687
|
|
|
11,224
|
|
|
1,917
|
|
|
2013
|
|
2011
|
|
172 Nottingham Road
|
Oak Lawn, IL
|
|
—
|
|
|
2,418
|
|
|
5,428
|
|
|
—
|
|
|
2,418
|
|
|
5,428
|
|
|
206
|
|
|
2018
|
|
1977
|
|
9401 South Kostner Avenue
|
Oak Lawn, IL
|
|
—
|
|
|
3,876
|
|
|
7,988
|
|
|
—
|
|
|
3,876
|
|
|
7,988
|
|
|
315
|
|
|
2018
|
|
1960
|
|
6300 W 95th Street
|
Oakland, CA
|
|
—
|
|
|
4,760
|
|
|
16,143
|
|
|
109
|
|
|
4,760
|
|
|
16,252
|
|
|
2,372
|
|
|
2014
|
|
2002
|
|
468 Perkins Street
|
Ocala, FL
|
|
—
|
|
|
1,340
|
|
|
10,564
|
|
|
102
|
|
|
1,340
|
|
|
10,666
|
|
|
3,067
|
|
|
2008
|
|
2009
|
|
2650 SE 18TH Avenue
|
Oklahoma City, OK
|
|
—
|
|
|
590
|
|
|
7,513
|
|
|
—
|
|
|
590
|
|
|
7,513
|
|
|
2,382
|
|
|
2007
|
|
2008
|
|
13200 S. May Ave
|
Oklahoma City, OK
|
|
—
|
|
|
760
|
|
|
7,017
|
|
|
—
|
|
|
760
|
|
|
7,017
|
|
|
2,197
|
|
|
2007
|
|
2009
|
|
11320 N. Council Road
|
Oklahoma City, OK
|
|
—
|
|
|
1,590
|
|
|
16,272
|
|
|
—
|
|
|
1,590
|
|
|
16,272
|
|
|
44
|
|
|
2014
|
|
2016
|
|
2800 SW 131st Street
|
Olathe, KS
|
|
—
|
|
|
1,930
|
|
|
19,765
|
|
|
553
|
|
|
1,930
|
|
|
20,318
|
|
|
2,378
|
|
|
2016
|
|
2015
|
|
21250 W 151 Street
|
Omaha, NE
|
|
—
|
|
|
370
|
|
|
10,230
|
|
|
—
|
|
|
370
|
|
|
10,230
|
|
|
2,643
|
|
|
2010
|
|
1998
|
|
11909 Miracle Hills Dr.
|
Omaha, NE
|
|
—
|
|
|
380
|
|
|
8,769
|
|
|
—
|
|
|
380
|
|
|
8,769
|
|
|
2,392
|
|
|
2010
|
|
1999
|
|
5728 South 108th St.
|
Ona, WV
|
|
—
|
|
|
950
|
|
|
15,998
|
|
|
390
|
|
|
950
|
|
|
16,388
|
|
|
1,820
|
|
|
2015
|
|
2007
|
|
100 Weatherholt Drive
|
Oneonta, NY
|
|
—
|
|
|
80
|
|
|
5,020
|
|
|
—
|
|
|
80
|
|
|
5,020
|
|
|
1,570
|
|
|
2007
|
|
1996
|
|
1846 County Highway 48
|
Orange Park, FL
|
|
—
|
|
|
2,201
|
|
|
4,018
|
|
|
—
|
|
|
2,201
|
|
|
4,018
|
|
|
212
|
|
|
2018
|
|
1990
|
|
570 Wells Road
|
Orem, UT
|
|
—
|
|
|
2,150
|
|
|
24,107
|
|
|
—
|
|
|
2,150
|
|
|
24,107
|
|
|
2,642
|
|
|
2015
|
|
2014
|
|
250 East Center 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Osage City, KS
|
|
—
|
|
|
50
|
|
|
1,700
|
|
|
142
|
|
|
50
|
|
|
1,842
|
|
|
247
|
|
|
2015
|
|
1996
|
|
1403 Laing St
|
Osawatomie, KS
|
|
—
|
|
|
130
|
|
|
2,970
|
|
|
136
|
|
|
130
|
|
|
3,106
|
|
|
380
|
|
|
2015
|
|
2003
|
|
1520 Parker Ave
|
Ottawa, KS
|
|
—
|
|
|
160
|
|
|
6,590
|
|
|
44
|
|
|
160
|
|
|
6,634
|
|
|
742
|
|
|
2015
|
|
2007
|
|
2250 S Elm St
|
Overland Park, KS
|
|
—
|
|
|
4,500
|
|
|
29,105
|
|
|
38,441
|
|
|
8,230
|
|
|
63,816
|
|
|
17,220
|
|
|
2010
|
|
1988
|
|
6101 W 119th St
|
Overland Park, KS
|
|
—
|
|
|
410
|
|
|
2,840
|
|
|
92
|
|
|
410
|
|
|
2,932
|
|
|
374
|
|
|
2015
|
|
2004
|
|
14430 Metcalf Ave
|
Overland Park, KS
|
|
—
|
|
|
1,300
|
|
|
25,311
|
|
|
677
|
|
|
1,300
|
|
|
25,988
|
|
|
2,995
|
|
|
2016
|
|
2015
|
|
7600 Antioch Road
|
Owasso, OK
|
|
—
|
|
|
215
|
|
|
1,380
|
|
|
—
|
|
|
215
|
|
|
1,380
|
|
|
834
|
|
|
1996
|
|
1996
|
|
12807 E. 86th Place N.
|
Owensboro, KY
|
|
—
|
|
|
225
|
|
|
13,275
|
|
|
—
|
|
|
225
|
|
|
13,275
|
|
|
5,428
|
|
|
2005
|
|
1964
|
|
1205 Leitchfield Rd.
|
Owenton, KY
|
|
—
|
|
|
100
|
|
|
2,400
|
|
|
—
|
|
|
100
|
|
|
2,400
|
|
|
1,157
|
|
|
2005
|
|
1979
|
|
905 Hwy. 127 N.
|
Palestine, TX
|
|
—
|
|
|
180
|
|
|
4,320
|
|
|
1,300
|
|
|
180
|
|
|
5,620
|
|
|
1,949
|
|
|
2006
|
|
2005
|
|
1625 W. Spring St.
|
Palm Beach Gardens, FL
|
|
—
|
|
|
2,082
|
|
|
6,624
|
|
|
—
|
|
|
2,082
|
|
|
6,624
|
|
|
289
|
|
|
2018
|
|
1991
|
|
11375 Prosperity Farms Road
|
Palm Coast, FL
|
|
—
|
|
|
870
|
|
|
10,957
|
|
|
98
|
|
|
870
|
|
|
11,055
|
|
|
3,040
|
|
|
2008
|
|
2010
|
|
50 Town Ct.
|
Palm Desert, CA
|
|
—
|
|
|
6,195
|
|
|
8,922
|
|
|
—
|
|
|
6,195
|
|
|
8,922
|
|
|
353
|
|
|
2018
|
|
1989
|
|
74350 Country Club Drive
|
Palm Harbor, FL
|
|
—
|
|
|
1,306
|
|
|
13,811
|
|
|
—
|
|
|
1,306
|
|
|
13,811
|
|
|
567
|
|
|
2018
|
|
1997
|
|
2895 Tampa Road
|
Palm Harbor, FL
|
|
—
|
|
|
3,281
|
|
|
22,457
|
|
|
—
|
|
|
3,281
|
|
|
22,457
|
|
|
904
|
|
|
2018
|
|
1990
|
|
2851 Tampa Road
|
Palos Heights, IL
|
|
—
|
|
|
1,225
|
|
|
12,457
|
|
|
—
|
|
|
1,225
|
|
|
12,457
|
|
|
468
|
|
|
2018
|
|
1999
|
|
7880 West College Drive
|
Palos Heights, IL
|
|
—
|
|
|
3,431
|
|
|
28,812
|
|
|
—
|
|
|
3,431
|
|
|
28,812
|
|
|
1,046
|
|
|
2018
|
|
1987
|
|
7850 West College Drive
|
Palos Heights, IL
|
|
—
|
|
|
2,590
|
|
|
7,647
|
|
|
—
|
|
|
2,590
|
|
|
7,647
|
|
|
288
|
|
|
2018
|
|
1996
|
|
11860 Southwest Hwy
|
Panama City Beach, FL
|
|
—
|
|
|
900
|
|
|
6,402
|
|
|
734
|
|
|
900
|
|
|
7,136
|
|
|
1,340
|
|
|
2011
|
|
2005
|
|
6012 Magnolia Beach Road
|
Paola, KS
|
|
—
|
|
|
190
|
|
|
5,610
|
|
|
59
|
|
|
190
|
|
|
5,669
|
|
|
646
|
|
|
2015
|
|
2000
|
|
601 N. East Street
|
Paris, TX
|
|
—
|
|
|
490
|
|
|
5,452
|
|
|
—
|
|
|
490
|
|
|
5,452
|
|
|
4,784
|
|
|
2005
|
|
2006
|
|
750 N Collegiate Dr
|
Parma, OH
|
|
—
|
|
|
960
|
|
|
12,722
|
|
|
—
|
|
|
960
|
|
|
12,722
|
|
|
512
|
|
|
2018
|
|
1998
|
|
9205 Sprague Road
|
Parma, OH
|
|
—
|
|
|
1,833
|
|
|
10,318
|
|
|
—
|
|
|
1,833
|
|
|
10,318
|
|
|
468
|
|
|
2018
|
|
2006
|
|
9055 West Sprague Road
|
Paulsboro, NJ
|
|
—
|
|
|
3,264
|
|
|
8,026
|
|
|
—
|
|
|
3,264
|
|
|
8,026
|
|
|
327
|
|
|
2018
|
|
1987
|
|
550 Jessup Road
|
Perrysburg, OH
|
|
—
|
|
|
1,456
|
|
|
5,433
|
|
|
—
|
|
|
1,456
|
|
|
5,433
|
|
|
224
|
|
|
2018
|
|
1973
|
|
10540 Fremont Pike
|
Perrysburg, OH
|
|
—
|
|
|
1,213
|
|
|
7,110
|
|
|
—
|
|
|
1,213
|
|
|
7,110
|
|
|
271
|
|
|
2018
|
|
1978
|
|
10542 Fremont Pike
|
Philadelphia, PA
|
|
—
|
|
|
2,930
|
|
|
10,433
|
|
|
3,536
|
|
|
2,930
|
|
|
13,969
|
|
|
3,647
|
|
|
2011
|
|
1952
|
|
1526 Lombard Street
|
Phillipsburg, NJ
|
|
—
|
|
|
800
|
|
|
21,175
|
|
|
238
|
|
|
800
|
|
|
21,413
|
|
|
5,254
|
|
|
2011
|
|
1992
|
|
290 Red School Lane
|
Phillipsburg, NJ
|
|
—
|
|
|
300
|
|
|
8,114
|
|
|
101
|
|
|
300
|
|
|
8,215
|
|
|
2,015
|
|
|
2011
|
|
1905
|
|
843 Wilbur Avenue
|
Pikesville, MD
|
|
—
|
|
|
—
|
|
|
2,488
|
|
|
—
|
|
|
—
|
|
|
2,488
|
|
|
89
|
|
|
2018
|
|
1998
|
|
8911 Reisterstown Road
|
Pikesville, MD
|
|
—
|
|
|
4,247
|
|
|
8,383
|
|
|
—
|
|
|
4,247
|
|
|
8,383
|
|
|
357
|
|
|
2018
|
|
1996
|
|
8909 Reisterstown Road
|
Pinehurst, NC
|
|
—
|
|
|
290
|
|
|
2,690
|
|
|
517
|
|
|
290
|
|
|
3,207
|
|
|
1,463
|
|
|
2003
|
|
1998
|
|
17 Regional Dr.
|
Piqua, OH
|
|
—
|
|
|
204
|
|
|
1,885
|
|
|
—
|
|
|
204
|
|
|
1,885
|
|
|
1,069
|
|
|
1997
|
|
1997
|
|
1744 W. High St.
|
Piscataway, NJ
|
|
—
|
|
|
3,100
|
|
|
33,501
|
|
|
—
|
|
|
3,100
|
|
|
33,501
|
|
|
2,369
|
|
|
2013
|
|
2017
|
|
10 Sterling Drive
|
Pittsburgh, PA
|
|
—
|
|
|
603
|
|
|
11,357
|
|
|
—
|
|
|
603
|
|
|
11,357
|
|
|
455
|
|
|
2018
|
|
1998
|
|
1125 Perry Highway
|
Pittsburgh, PA
|
|
—
|
|
|
1,005
|
|
|
15,164
|
|
|
—
|
|
|
1,005
|
|
|
15,164
|
|
|
584
|
|
|
2018
|
|
1997
|
|
505 Weyman Road
|
Pittsburgh, PA
|
|
—
|
|
|
1,140
|
|
|
3,166
|
|
|
—
|
|
|
1,140
|
|
|
3,166
|
|
|
123
|
|
|
2018
|
|
1962
|
|
550 South Negley Avenue
|
Pittsburgh, PA
|
|
—
|
|
|
994
|
|
|
3,790
|
|
|
—
|
|
|
994
|
|
|
3,790
|
|
|
210
|
|
|
2018
|
|
1986
|
|
2170 Rhine Street
|
Pittsburgh, PA
|
|
—
|
|
|
761
|
|
|
4,214
|
|
|
—
|
|
|
761
|
|
|
4,214
|
|
|
157
|
|
|
2018
|
|
1965
|
|
5609 Fifth Avenue
|
Pittsburgh, PA
|
|
—
|
|
|
1,480
|
|
|
9,715
|
|
|
—
|
|
|
1,480
|
|
|
9,715
|
|
|
423
|
|
|
2018
|
|
1986
|
|
1105 Perry Highway
|
Pittsburgh, PA
|
|
—
|
|
|
1,139
|
|
|
5,846
|
|
|
—
|
|
|
1,139
|
|
|
5,846
|
|
|
249
|
|
|
2018
|
|
1986
|
|
1848 Greentree Road
|
Pittsburgh, PA
|
|
—
|
|
|
1,750
|
|
|
8,572
|
|
|
6,320
|
|
|
1,750
|
|
|
14,892
|
|
|
3,701
|
|
|
2005
|
|
1998
|
|
100 Knoedler Rd.
|
Plainview, NY
|
|
—
|
|
|
3,990
|
|
|
11,969
|
|
|
1,713
|
|
|
3,990
|
|
|
13,682
|
|
|
3,235
|
|
|
2011
|
|
1963
|
|
150 Sunnyside Blvd
|
Plano, TX
|
|
—
|
|
|
1,840
|
|
|
20,152
|
|
|
560
|
|
|
1,840
|
|
|
20,712
|
|
|
2,190
|
|
|
2016
|
|
2016
|
|
3325 W Plano Parkway
|
Plattsmouth, NE
|
|
—
|
|
|
250
|
|
|
5,650
|
|
|
—
|
|
|
250
|
|
|
5,650
|
|
|
1,535
|
|
|
2010
|
|
1999
|
|
1913 E. 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Poole, UK
|
|
—
|
|
|
3,416
|
|
|
17,171
|
|
|
—
|
|
|
3,416
|
|
|
17,171
|
|
|
50
|
|
|
2019
|
|
2019
|
|
Kingsmill Road
|
Potomac, MD
|
|
—
|
|
|
1,448
|
|
|
14,626
|
|
|
—
|
|
|
1,448
|
|
|
14,626
|
|
|
553
|
|
|
2018
|
|
1994
|
|
10718 Potomac Tennis Lane
|
Potomac, MD
|
|
—
|
|
|
4,119
|
|
|
14,921
|
|
|
—
|
|
|
4,119
|
|
|
14,921
|
|
|
583
|
|
|
2018
|
|
1988
|
|
10714 Potomac Tennis Lane
|
Pottstown, PA
|
|
—
|
|
|
984
|
|
|
4,565
|
|
|
—
|
|
|
984
|
|
|
4,565
|
|
|
191
|
|
|
2018
|
|
1907
|
|
724 North Charlotte Street
|
Pottsville, PA
|
|
—
|
|
|
171
|
|
|
3,560
|
|
|
—
|
|
|
171
|
|
|
3,560
|
|
|
140
|
|
|
2018
|
|
1976
|
|
420 Pulaski Drive
|
Prior Lake, MN
|
|
13,567
|
|
|
1,870
|
|
|
29,849
|
|
|
300
|
|
|
1,870
|
|
|
30,149
|
|
|
3,208
|
|
|
2015
|
|
2003
|
|
4685 Park Nicollet Avenue
|
Raleigh, NC
|
|
—
|
|
|
7,598
|
|
|
88,870
|
|
|
493
|
|
|
7,598
|
|
|
89,363
|
|
|
6,542
|
|
|
2008
|
|
2017
|
|
4030 Cardinal at North Hills St
|
Raleigh, NC
|
|
—
|
|
|
3,530
|
|
|
59,589
|
|
|
—
|
|
|
3,530
|
|
|
59,589
|
|
|
11,396
|
|
|
2012
|
|
2002
|
|
5301 Creedmoor Road
|
Raleigh, NC
|
|
—
|
|
|
2,580
|
|
|
16,837
|
|
|
—
|
|
|
2,580
|
|
|
16,837
|
|
|
3,433
|
|
|
2012
|
|
1988
|
|
7900 Creedmoor Road
|
Reading, PA
|
|
—
|
|
|
980
|
|
|
19,906
|
|
|
140
|
|
|
980
|
|
|
20,046
|
|
|
4,850
|
|
|
2011
|
|
1994
|
|
5501 Perkiomen Ave
|
Red Bank, NJ
|
|
—
|
|
|
1,050
|
|
|
21,275
|
|
|
1,158
|
|
|
1,050
|
|
|
22,433
|
|
|
4,785
|
|
|
2011
|
|
1997
|
|
One Hartford Dr.
|
Redondo Beach, CA
|
|
—
|
|
|
—
|
|
|
9,557
|
|
|
653
|
|
|
—
|
|
|
10,210
|
|
|
6,913
|
|
|
2011
|
|
1957
|
|
514 North Prospect Ave
|
Reidsville, NC
|
|
—
|
|
|
170
|
|
|
3,830
|
|
|
907
|
|
|
170
|
|
|
4,737
|
|
|
2,155
|
|
|
2002
|
|
1998
|
|
2931 Vance St.
|
Richardson, TX
|
|
—
|
|
|
1,468
|
|
|
12,979
|
|
|
—
|
|
|
1,468
|
|
|
12,979
|
|
|
511
|
|
|
2018
|
|
1999
|
|
410 Buckingham Road
|
Richmond, IN
|
|
—
|
|
|
700
|
|
|
14,222
|
|
|
393
|
|
|
700
|
|
|
14,615
|
|
|
1,699
|
|
|
2016
|
|
2015
|
|
400 Industries Road
|
Richmond, VA
|
|
—
|
|
|
3,261
|
|
|
17,980
|
|
|
—
|
|
|
3,261
|
|
|
17,980
|
|
|
672
|
|
|
2018
|
|
1990
|
|
1719 Bellevue Avenue
|
Richmond, VA
|
|
—
|
|
|
1,046
|
|
|
8,235
|
|
|
—
|
|
|
1,046
|
|
|
8,235
|
|
|
330
|
|
|
2018
|
|
1966
|
|
2125 Hilliard Road
|
Roanoke, VA
|
|
—
|
|
|
748
|
|
|
4,483
|
|
|
—
|
|
|
748
|
|
|
4,483
|
|
|
715
|
|
|
2018
|
|
1997
|
|
4355 Pheasant Ridge Rd
|
Rockville Centre, NY
|
|
—
|
|
|
4,290
|
|
|
20,310
|
|
|
1,379
|
|
|
4,290
|
|
|
21,689
|
|
|
4,889
|
|
|
2011
|
|
2002
|
|
260 Maple Ave
|
Rockwall, TX
|
|
—
|
|
|
2,220
|
|
|
17,650
|
|
|
69
|
|
|
2,220
|
|
|
17,719
|
|
|
2,049
|
|
|
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
|
|
|
2,677
|
|
|
2015
|
|
1989
|
|
2750 North Victoria Street
|
Rugeley, UK
|
|
—
|
|
|
1,900
|
|
|
10,262
|
|
|
918
|
|
|
2,043
|
|
|
11,037
|
|
|
1,976
|
|
|
2013
|
|
2010
|
|
Horse Fair
|
Ruston, LA
|
|
—
|
|
|
710
|
|
|
9,790
|
|
|
—
|
|
|
710
|
|
|
9,790
|
|
|
2,424
|
|
|
2011
|
|
1988
|
|
1401 Ezelle St
|
S Holland, IL
|
|
—
|
|
|
1,423
|
|
|
8,910
|
|
|
—
|
|
|
1,423
|
|
|
8,910
|
|
|
359
|
|
|
2018
|
|
1997
|
|
2045 East 170th Street
|
Salem, OR
|
|
—
|
|
|
449
|
|
|
5,171
|
|
|
1
|
|
|
449
|
|
|
5,172
|
|
|
2,828
|
|
|
1999
|
|
1998
|
|
1355 Boone Rd. S.E.
|
Salisbury, NC
|
|
—
|
|
|
370
|
|
|
5,697
|
|
|
196
|
|
|
370
|
|
|
5,893
|
|
|
2,561
|
|
|
2003
|
|
1997
|
|
2201 Statesville Blvd.
|
San Angelo, TX
|
|
—
|
|
|
260
|
|
|
8,800
|
|
|
425
|
|
|
260
|
|
|
9,225
|
|
|
3,572
|
|
|
2004
|
|
1997
|
|
2695 Valleyview Blvd.
|
San Angelo, TX
|
|
—
|
|
|
1,050
|
|
|
24,689
|
|
|
1,221
|
|
|
1,050
|
|
|
25,910
|
|
|
3,682
|
|
|
2014
|
|
1999
|
|
6101 Grand Court Road
|
San Antonio, TX
|
|
—
|
|
|
1,499
|
|
|
12,662
|
|
|
—
|
|
|
1,499
|
|
|
12,662
|
|
|
493
|
|
|
2018
|
|
2000
|
|
15290 Huebner Road
|
San Antonio, TX
|
|
—
|
|
|
—
|
|
|
17,303
|
|
|
—
|
|
|
—
|
|
|
17,303
|
|
|
8,455
|
|
|
2007
|
|
2007
|
|
8902 Floyd Curl Dr.
|
San Diego, CA
|
|
—
|
|
|
—
|
|
|
22,003
|
|
|
1,845
|
|
|
—
|
|
|
23,848
|
|
|
6,664
|
|
|
2008
|
|
1992
|
|
555 Washington St.
|
San Juan Capistrano, CA
|
|
—
|
|
|
1,390
|
|
|
6,942
|
|
|
1,434
|
|
|
1,390
|
|
|
8,376
|
|
|
3,500
|
|
|
2000
|
|
2001
|
|
30311 Camino Capistrano
|
Sand Springs, OK
|
|
—
|
|
|
910
|
|
|
19,654
|
|
|
—
|
|
|
910
|
|
|
19,654
|
|
|
3,861
|
|
|
2012
|
|
2002
|
|
4402 South 129th Avenue West
|
Sarasota, FL
|
|
—
|
|
|
475
|
|
|
3,175
|
|
|
—
|
|
|
475
|
|
|
3,175
|
|
|
1,991
|
|
|
1996
|
|
1995
|
|
8450 McIntosh Rd.
|
Sarasota, FL
|
|
—
|
|
|
4,101
|
|
|
11,208
|
|
|
—
|
|
|
4,101
|
|
|
11,208
|
|
|
701
|
|
|
2018
|
|
1993
|
|
5401 Sawyer Road
|
Sarasota, FL
|
|
—
|
|
|
1,370
|
|
|
4,084
|
|
|
—
|
|
|
1,370
|
|
|
4,084
|
|
|
164
|
|
|
2018
|
|
1968
|
|
3250 12th Street
|
Sarasota, FL
|
|
—
|
|
|
2,792
|
|
|
11,177
|
|
|
—
|
|
|
2,792
|
|
|
11,177
|
|
|
434
|
|
|
2018
|
|
1993
|
|
5511 Swift Road
|
Sarasota, FL
|
|
—
|
|
|
3,360
|
|
|
19,140
|
|
|
—
|
|
|
3,360
|
|
|
19,140
|
|
|
4,182
|
|
|
2011
|
|
2006
|
|
6150 Edgelake Drive
|
Sarasota, FL
|
|
—
|
|
|
443
|
|
|
8,895
|
|
|
—
|
|
|
443
|
|
|
8,895
|
|
|
382
|
|
|
2018
|
|
1998
|
|
5509 Swift Road
|
Scranton, PA
|
|
—
|
|
|
440
|
|
|
17,609
|
|
|
—
|
|
|
440
|
|
|
17,609
|
|
|
2,530
|
|
|
2014
|
|
2005
|
|
2741 Blvd. Ave
|
Scranton, PA
|
|
—
|
|
|
320
|
|
|
12,144
|
|
|
1
|
|
|
320
|
|
|
12,145
|
|
|
1,741
|
|
|
2014
|
|
2013
|
|
2751 Boulevard Ave
|
Seminole, FL
|
|
—
|
|
|
1,165
|
|
|
8,977
|
|
|
—
|
|
|
1,165
|
|
|
8,977
|
|
|
373
|
|
|
2018
|
|
1998
|
|
9300 Antilles Drive
|
Seven Fields, PA
|
|
—
|
|
|
484
|
|
|
4,663
|
|
|
59
|
|
|
484
|
|
|
4,722
|
|
|
2,585
|
|
|
1999
|
|
1999
|
|
500 Seven Fields Blvd.
|
Sewell, NJ
|
|
—
|
|
|
3,127
|
|
|
14,095
|
|
|
—
|
|
|
3,127
|
|
|
14,095
|
|
|
624
|
|
|
2018
|
|
2010
|
|
378 Fries Mill 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Shawnee, OK
|
|
—
|
|
|
80
|
|
|
1,400
|
|
|
—
|
|
|
80
|
|
|
1,400
|
|
|
870
|
|
|
1996
|
|
1995
|
|
3947 Kickapoo
|
Shelbyville, KY
|
|
—
|
|
|
630
|
|
|
3,870
|
|
|
630
|
|
|
630
|
|
|
4,500
|
|
|
1,684
|
|
|
2005
|
|
1965
|
|
1871 Midland Trail
|
Sherman, TX
|
|
—
|
|
|
700
|
|
|
5,221
|
|
|
—
|
|
|
700
|
|
|
5,221
|
|
|
1,838
|
|
|
2005
|
|
2006
|
|
1011 E. Pecan Grove Rd.
|
Silver Spring, MD
|
|
—
|
|
|
1,469
|
|
|
10,395
|
|
|
—
|
|
|
1,469
|
|
|
10,395
|
|
|
405
|
|
|
2018
|
|
1995
|
|
2505 Musgrove Road
|
Silver Spring, MD
|
|
—
|
|
|
4,678
|
|
|
11,683
|
|
|
—
|
|
|
4,678
|
|
|
11,683
|
|
|
485
|
|
|
2018
|
|
1990
|
|
2501 Musgrove Road
|
Silvis, IL
|
|
—
|
|
|
880
|
|
|
16,420
|
|
|
139
|
|
|
880
|
|
|
16,559
|
|
|
4,135
|
|
|
2010
|
|
2005
|
|
1900 10th St.
|
Sinking Spring, PA
|
|
—
|
|
|
1,393
|
|
|
19,848
|
|
|
—
|
|
|
1,393
|
|
|
19,848
|
|
|
764
|
|
|
2018
|
|
1982
|
|
3000 Windmill Road
|
Sittingbourne, UK
|
|
—
|
|
|
1,357
|
|
|
6,539
|
|
|
597
|
|
|
1,460
|
|
|
7,033
|
|
|
926
|
|
|
2014
|
|
1997
|
|
200 London Road
|
Smithfield, NC
|
|
—
|
|
|
290
|
|
|
5,680
|
|
|
455
|
|
|
290
|
|
|
6,135
|
|
|
2,497
|
|
|
2003
|
|
1998
|
|
830 Berkshire Rd.
|
Smithfield, NC
|
|
—
|
|
|
360
|
|
|
8,216
|
|
|
—
|
|
|
360
|
|
|
8,216
|
|
|
1,177
|
|
|
2014
|
|
1999
|
|
250 Highway 210 West
|
South Bend, IN
|
|
—
|
|
|
670
|
|
|
17,770
|
|
|
—
|
|
|
670
|
|
|
17,770
|
|
|
2,652
|
|
|
2014
|
|
2014
|
|
52565 State Road 933
|
South Point, OH
|
|
—
|
|
|
1,135
|
|
|
9,390
|
|
|
—
|
|
|
1,135
|
|
|
9,390
|
|
|
362
|
|
|
2018
|
|
1984
|
|
7743 County Road 1
|
Southampton, UK
|
|
—
|
|
|
1,519
|
|
|
16,041
|
|
|
710
|
|
|
1,581
|
|
|
16,689
|
|
|
1,013
|
|
|
2017
|
|
2013
|
|
Botley Road, Park Gate
|
Southbury, CT
|
|
—
|
|
|
1,860
|
|
|
23,613
|
|
|
958
|
|
|
1,860
|
|
|
24,571
|
|
|
5,579
|
|
|
2011
|
|
2001
|
|
655 Main St
|
Spokane, WA
|
|
—
|
|
|
2,649
|
|
|
11,703
|
|
|
—
|
|
|
2,649
|
|
|
11,703
|
|
|
456
|
|
|
2018
|
|
1985
|
|
6025 North Assembly Street
|
Springfield, IL
|
|
—
|
|
|
990
|
|
|
13,378
|
|
|
1,085
|
|
|
990
|
|
|
14,463
|
|
|
2,121
|
|
|
2014
|
|
2013
|
|
3089 Old Jacksonville Road
|
St. Louis, MO
|
|
—
|
|
|
1,890
|
|
|
12,390
|
|
|
837
|
|
|
1,890
|
|
|
13,227
|
|
|
3,028
|
|
|
2010
|
|
1963
|
|
6543 Chippewa St
|
St. Paul, MN
|
|
—
|
|
|
2,100
|
|
|
33,019
|
|
|
100
|
|
|
2,100
|
|
|
33,119
|
|
|
3,546
|
|
|
2015
|
|
1996
|
|
750 Mississippi River
|
Stafford, UK
|
|
—
|
|
|
2,009
|
|
|
8,238
|
|
|
414
|
|
|
2,090
|
|
|
8,571
|
|
|
750
|
|
|
2014
|
|
2016
|
|
Stone Road
|
Stamford, UK
|
|
—
|
|
|
1,820
|
|
|
3,238
|
|
|
382
|
|
|
1,957
|
|
|
3,483
|
|
|
489
|
|
|
2014
|
|
1998
|
|
Priory Road
|
Statesville, NC
|
|
—
|
|
|
150
|
|
|
1,447
|
|
|
338
|
|
|
150
|
|
|
1,785
|
|
|
788
|
|
|
2003
|
|
1990
|
|
2441 E. Broad St.
|
Statesville, NC
|
|
—
|
|
|
310
|
|
|
6,183
|
|
|
61
|
|
|
310
|
|
|
6,244
|
|
|
2,662
|
|
|
2003
|
|
1996
|
|
2806 Peachtree Place
|
Statesville, NC
|
|
—
|
|
|
140
|
|
|
3,627
|
|
|
9
|
|
|
140
|
|
|
3,636
|
|
|
1,589
|
|
|
2003
|
|
1999
|
|
2814 Peachtree Rd.
|
Staunton, VA
|
|
—
|
|
|
899
|
|
|
6,391
|
|
|
—
|
|
|
899
|
|
|
6,391
|
|
|
792
|
|
|
2018
|
|
1999
|
|
1410 N Augusta St
|
Sterling Heights, MI
|
|
—
|
|
|
790
|
|
|
10,787
|
|
|
—
|
|
|
790
|
|
|
10,787
|
|
|
423
|
|
|
2018
|
|
1996
|
|
11095 East Fourteen Mile Road
|
Sterling Heights, MI
|
|
—
|
|
|
1,583
|
|
|
15,639
|
|
|
—
|
|
|
1,583
|
|
|
15,639
|
|
|
622
|
|
|
2018
|
|
2013
|
|
38200 Schoenherr Road
|
Stillwater, OK
|
|
—
|
|
|
80
|
|
|
1,400
|
|
|
—
|
|
|
80
|
|
|
1,400
|
|
|
872
|
|
|
1995
|
|
1995
|
|
1616 McElroy Rd.
|
Stratford-upon-Avon, UK
|
|
—
|
|
|
790
|
|
|
14,508
|
|
|
1,155
|
|
|
849
|
|
|
15,604
|
|
|
1,901
|
|
|
2015
|
|
2012
|
|
Scholars Lane
|
Stroudsburg, PA
|
|
—
|
|
|
340
|
|
|
16,313
|
|
|
—
|
|
|
340
|
|
|
16,313
|
|
|
2,619
|
|
|
2014
|
|
2011
|
|
370 Whitestone Corner Road
|
Summit, NJ
|
|
—
|
|
|
3,080
|
|
|
14,152
|
|
|
—
|
|
|
3,080
|
|
|
14,152
|
|
|
3,422
|
|
|
2011
|
|
2001
|
|
41 Springfield Avenue
|
Sunbury, PA
|
|
—
|
|
|
695
|
|
|
7,246
|
|
|
—
|
|
|
695
|
|
|
7,246
|
|
|
273
|
|
|
2018
|
|
1981
|
|
800 Court Street Circle
|
Sunninghill, UK
|
|
—
|
|
|
11,632
|
|
|
42,233
|
|
|
2,174
|
|
|
12,101
|
|
|
43,938
|
|
|
2,925
|
|
|
2014
|
|
2017
|
|
Bagshot Road
|
Sunnyvale, CA
|
|
—
|
|
|
4,946
|
|
|
22,131
|
|
|
—
|
|
|
4,946
|
|
|
22,131
|
|
|
829
|
|
|
2018
|
|
1990
|
|
1150 Tilton Drive
|
Superior, WI
|
|
—
|
|
|
1,020
|
|
|
13,735
|
|
|
6,159
|
|
|
1,020
|
|
|
19,894
|
|
|
3,457
|
|
|
2009
|
|
2010
|
|
1915 North 34th Street
|
Tacoma, WA
|
|
—
|
|
|
2,522
|
|
|
8,576
|
|
|
—
|
|
|
2,522
|
|
|
8,576
|
|
|
328
|
|
|
2018
|
|
1984
|
|
5601 South Orchard Southtreet
|
Tampa, FL
|
|
—
|
|
|
1,315
|
|
|
6,913
|
|
|
—
|
|
|
1,315
|
|
|
6,913
|
|
|
313
|
|
|
2018
|
|
1999
|
|
14950 Casey Road
|
Terre Haute, IN
|
|
—
|
|
|
1,370
|
|
|
18,016
|
|
|
—
|
|
|
1,370
|
|
|
18,016
|
|
|
2,463
|
|
|
2015
|
|
2015
|
|
395 8th Avenue
|
Texarkana, TX
|
|
—
|
|
|
192
|
|
|
1,403
|
|
|
—
|
|
|
192
|
|
|
1,403
|
|
|
847
|
|
|
1996
|
|
1996
|
|
4204 Moores Lane
|
The Villages, FL
|
|
—
|
|
|
1,035
|
|
|
7,446
|
|
|
—
|
|
|
1,035
|
|
|
7,446
|
|
|
1,327
|
|
|
2013
|
|
2014
|
|
2450 Parr Drive
|
Thomasville, GA
|
|
—
|
|
|
530
|
|
|
12,520
|
|
|
1,347
|
|
|
530
|
|
|
13,867
|
|
|
2,429
|
|
|
2011
|
|
2006
|
|
423 Covington Avenue
|
Three Rivers, MI
|
|
—
|
|
|
1,255
|
|
|
2,761
|
|
|
—
|
|
|
1,255
|
|
|
2,761
|
|
|
142
|
|
|
2018
|
|
1976
|
|
517 South Erie Southtreet
|
Tomball, TX
|
|
—
|
|
|
1,050
|
|
|
13,300
|
|
|
840
|
|
|
1,050
|
|
|
14,140
|
|
|
3,171
|
|
|
2011
|
|
2001
|
|
1221 Graham Dr
|
Toms River, NJ
|
|
—
|
|
|
3,466
|
|
|
23,311
|
|
|
—
|
|
|
3,466
|
|
|
23,311
|
|
|
832
|
|
|
2019
|
|
2006
|
|
1657 Silverton Rd
|
Tonganoxie, KS
|
|
—
|
|
|
310
|
|
|
3,690
|
|
|
76
|
|
|
310
|
|
|
3,766
|
|
|
473
|
|
|
2015
|
|
2009
|
|
120 W 8th St
|
Topeka, KS
|
|
—
|
|
|
260
|
|
|
12,712
|
|
|
—
|
|
|
260
|
|
|
12,712
|
|
|
2,579
|
|
|
2012
|
|
2011
|
|
1931 Southwest Arvonia Place
|
(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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Towson, MD
|
|
—
|
|
|
1,715
|
|
|
13,115
|
|
|
—
|
|
|
1,715
|
|
|
13,115
|
|
|
510
|
|
|
2018
|
|
2000
|
|
8101 Bellona Avenue
|
Towson, MD
|
|
—
|
|
|
3,100
|
|
|
6,468
|
|
|
—
|
|
|
3,100
|
|
|
6,468
|
|
|
240
|
|
|
2018
|
|
1960
|
|
509 East Joppa Road
|
Towson, MD
|
|
—
|
|
|
4,527
|
|
|
3,128
|
|
|
—
|
|
|
4,527
|
|
|
3,128
|
|
|
147
|
|
|
2018
|
|
1970
|
|
7001 North Charles Street
|
Troy, MI
|
|
—
|
|
|
1,381
|
|
|
24,452
|
|
|
—
|
|
|
1,381
|
|
|
24,452
|
|
|
909
|
|
|
2018
|
|
2006
|
|
925 West South Boulevard
|
Troy, OH
|
|
—
|
|
|
200
|
|
|
2,000
|
|
|
4,254
|
|
|
200
|
|
|
6,254
|
|
|
2,345
|
|
|
1997
|
|
1997
|
|
81 S. Stanfield Rd.
|
Trumbull, CT
|
|
—
|
|
|
4,440
|
|
|
43,384
|
|
|
—
|
|
|
4,440
|
|
|
43,384
|
|
|
10,012
|
|
|
2011
|
|
2001
|
|
6949 Main Street
|
Tulsa, OK
|
|
—
|
|
|
1,390
|
|
|
7,110
|
|
|
1,102
|
|
|
1,390
|
|
|
8,212
|
|
|
2,264
|
|
|
2010
|
|
1998
|
|
7220 S. Yale Ave.
|
Tulsa, OK
|
|
—
|
|
|
1,320
|
|
|
10,087
|
|
|
—
|
|
|
1,320
|
|
|
10,087
|
|
|
2,121
|
|
|
2011
|
|
2012
|
|
7902 South Mingo Road East
|
Tulsa, OK
|
|
—
|
|
|
1,100
|
|
|
27,007
|
|
|
2,233
|
|
|
1,100
|
|
|
29,240
|
|
|
2,334
|
|
|
2015
|
|
2017
|
|
18001 East 51st Street
|
Tulsa, OK
|
|
13,000
|
|
|
1,752
|
|
|
28,421
|
|
|
—
|
|
|
1,752
|
|
|
28,421
|
|
|
2,023
|
|
|
2017
|
|
2014
|
|
701 W 71st Street South
|
Tulsa, OK
|
|
—
|
|
|
890
|
|
|
9,410
|
|
|
—
|
|
|
890
|
|
|
9,410
|
|
|
572
|
|
|
2017
|
|
2009
|
|
7210 South Yale Avenue
|
Tustin, CA
|
|
—
|
|
|
840
|
|
|
15,299
|
|
|
537
|
|
|
840
|
|
|
15,836
|
|
|
3,986
|
|
|
2011
|
|
1965
|
|
240 East 3rd St
|
Twinsburg, OH
|
|
—
|
|
|
1,446
|
|
|
5,921
|
|
|
—
|
|
|
1,446
|
|
|
5,921
|
|
|
255
|
|
|
2018
|
|
2014
|
|
8551 Darrow Road
|
Tyler, TX
|
|
—
|
|
|
650
|
|
|
5,268
|
|
|
—
|
|
|
650
|
|
|
5,268
|
|
|
1,794
|
|
|
2006
|
|
2007
|
|
5550 Old Jacksonville Hwy.
|
Union, SC
|
|
—
|
|
|
1,932
|
|
|
2,374
|
|
|
—
|
|
|
1,932
|
|
|
2,374
|
|
|
142
|
|
|
2018
|
|
1981
|
|
709 Rice Avenue
|
Valparaiso, IN
|
|
—
|
|
|
112
|
|
|
2,558
|
|
|
—
|
|
|
112
|
|
|
2,558
|
|
|
1,266
|
|
|
2001
|
|
1998
|
|
2601 Valparaiso St.
|
Valparaiso, IN
|
|
—
|
|
|
108
|
|
|
2,962
|
|
|
—
|
|
|
108
|
|
|
2,962
|
|
|
1,449
|
|
|
2001
|
|
1999
|
|
2501 Valparaiso St.
|
Vancouver, WA
|
|
—
|
|
|
2,503
|
|
|
28,401
|
|
|
—
|
|
|
2,503
|
|
|
28,401
|
|
|
1,047
|
|
|
2018
|
|
2011
|
|
2811 N.E. 139th Street
|
Venice, FL
|
|
—
|
|
|
1,150
|
|
|
10,674
|
|
|
108
|
|
|
1,150
|
|
|
10,782
|
|
|
3,019
|
|
|
2008
|
|
2009
|
|
1600 Center Rd.
|
Venice, FL
|
|
—
|
|
|
2,246
|
|
|
10,097
|
|
|
—
|
|
|
2,246
|
|
|
10,097
|
|
|
418
|
|
|
2018
|
|
1997
|
|
1450 East Venice Avenue
|
Vero Beach, FL
|
|
—
|
|
|
263
|
|
|
3,187
|
|
|
—
|
|
|
263
|
|
|
3,187
|
|
|
1,550
|
|
|
2001
|
|
1999
|
|
420 4th Ct.
|
Vero Beach, FL
|
|
—
|
|
|
297
|
|
|
3,263
|
|
|
—
|
|
|
297
|
|
|
3,263
|
|
|
1,596
|
|
|
2001
|
|
1996
|
|
410 4th Ct.
|
Virginia Beach, VA
|
|
—
|
|
|
1,540
|
|
|
22,593
|
|
|
—
|
|
|
1,540
|
|
|
22,593
|
|
|
3,282
|
|
|
2014
|
|
1993
|
|
5520 Indian River Rd
|
Voorhees, NJ
|
|
—
|
|
|
1,800
|
|
|
37,299
|
|
|
671
|
|
|
1,800
|
|
|
37,970
|
|
|
9,153
|
|
|
2011
|
|
1965
|
|
2601 Evesham Road
|
Voorhees, NJ
|
|
—
|
|
|
3,100
|
|
|
25,950
|
|
|
26
|
|
|
3,100
|
|
|
25,976
|
|
|
5,244
|
|
|
2011
|
|
2013
|
|
113 South Route 73
|
Voorhees, NJ
|
|
—
|
|
|
2,193
|
|
|
6,992
|
|
|
—
|
|
|
2,193
|
|
|
6,992
|
|
|
301
|
|
|
2018
|
|
2006
|
|
1086 Dumont Circle
|
W Palm Beach, FL
|
|
—
|
|
|
1,175
|
|
|
8,297
|
|
|
—
|
|
|
1,175
|
|
|
8,297
|
|
|
350
|
|
|
2018
|
|
1996
|
|
2330 Village Boulevard
|
W Palm Beach, FL
|
|
—
|
|
|
1,921
|
|
|
5,733
|
|
|
—
|
|
|
1,921
|
|
|
5,733
|
|
|
234
|
|
|
2018
|
|
1996
|
|
2300 Village Boulevard
|
Wabash, IN
|
|
—
|
|
|
670
|
|
|
14,588
|
|
|
1
|
|
|
670
|
|
|
14,589
|
|
|
2,269
|
|
|
2014
|
|
2013
|
|
20 John Kissinger Drive
|
Waconia, MN
|
|
—
|
|
|
890
|
|
|
14,726
|
|
|
4,495
|
|
|
890
|
|
|
19,221
|
|
|
4,086
|
|
|
2011
|
|
2005
|
|
500 Cherry Street
|
Wake Forest, NC
|
|
—
|
|
|
200
|
|
|
3,003
|
|
|
2,039
|
|
|
200
|
|
|
5,042
|
|
|
2,420
|
|
|
1998
|
|
1999
|
|
611 S. Brooks St.
|
Wallingford, PA
|
|
—
|
|
|
1,356
|
|
|
6,489
|
|
|
—
|
|
|
1,356
|
|
|
6,489
|
|
|
285
|
|
|
2018
|
|
1930
|
|
115 South Providence Road
|
Walnut Creek, CA
|
|
—
|
|
|
4,358
|
|
|
18,413
|
|
|
—
|
|
|
4,358
|
|
|
18,413
|
|
|
708
|
|
|
2018
|
|
1997
|
|
1975 Tice Valley Boulevard
|
Walnut Creek, CA
|
|
—
|
|
|
5,394
|
|
|
39,096
|
|
|
—
|
|
|
5,394
|
|
|
39,096
|
|
|
1,429
|
|
|
2018
|
|
1990
|
|
1226 Rossmoor Parkway
|
Walsall, UK
|
|
—
|
|
|
1,184
|
|
|
8,562
|
|
|
737
|
|
|
1,274
|
|
|
9,209
|
|
|
1,189
|
|
|
2015
|
|
2015
|
|
Little Aston Road
|
Wamego, KS
|
|
—
|
|
|
40
|
|
|
2,510
|
|
|
57
|
|
|
40
|
|
|
2,567
|
|
|
298
|
|
|
2015
|
|
1996
|
|
1607 4th St
|
Wareham, MA
|
|
—
|
|
|
875
|
|
|
10,313
|
|
|
1,701
|
|
|
875
|
|
|
12,014
|
|
|
5,798
|
|
|
2002
|
|
1989
|
|
50 Indian Neck Rd.
|
Warren, NJ
|
|
—
|
|
|
2,000
|
|
|
30,810
|
|
|
1,337
|
|
|
2,000
|
|
|
32,147
|
|
|
6,904
|
|
|
2011
|
|
1999
|
|
274 King George Rd
|
Waterloo, IA
|
|
—
|
|
|
605
|
|
|
3,031
|
|
|
—
|
|
|
605
|
|
|
3,031
|
|
|
129
|
|
|
2018
|
|
1964
|
|
201 West Ridgeway Avenue
|
Waxahachie, TX
|
|
—
|
|
|
650
|
|
|
5,763
|
|
|
—
|
|
|
650
|
|
|
5,763
|
|
|
1,838
|
|
|
2007
|
|
2008
|
|
1329 Brown St.
|
Wayne, NJ
|
|
—
|
|
|
1,427
|
|
|
15,679
|
|
|
—
|
|
|
1,427
|
|
|
15,679
|
|
|
766
|
|
|
2018
|
|
1998
|
|
800 Hamburg Turnpike
|
Weatherford, TX
|
|
—
|
|
|
660
|
|
|
5,261
|
|
|
—
|
|
|
660
|
|
|
5,261
|
|
|
1,805
|
|
|
2006
|
|
2007
|
|
1818 Martin Drive
|
Wellingborough, UK
|
|
—
|
|
|
1,480
|
|
|
5,724
|
|
|
544
|
|
|
1,592
|
|
|
6,156
|
|
|
890
|
|
|
2015
|
|
2015
|
|
159 Northampton
|
West Bend, WI
|
|
—
|
|
|
620
|
|
|
17,790
|
|
|
38
|
|
|
620
|
|
|
17,828
|
|
|
3,783
|
|
|
2010
|
|
2011
|
|
2130 Continental Dr
|
West Des Moines, IA
|
|
—
|
|
|
828
|
|
|
5,104
|
|
|
—
|
|
|
828
|
|
|
5,104
|
|
|
219
|
|
|
2018
|
|
2006
|
|
5010 Grand Ridge 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
|
|||||||
Triple-net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
West Milford, NJ
|
|
—
|
|
|
1,960
|
|
|
24,614
|
|
|
—
|
|
|
1,960
|
|
|
24,614
|
|
|
672
|
|
|
2019
|
|
2000
|
|
197 Cahill Cross Road
|
West Orange, NJ
|
|
—
|
|
|
1,347
|
|
|
19,395
|
|
|
—
|
|
|
1,347
|
|
|
19,395
|
|
|
888
|
|
|
2018
|
|
1998
|
|
510 Prospect Avenue
|
West Reading, PA
|
|
—
|
|
|
890
|
|
|
12,122
|
|
|
—
|
|
|
890
|
|
|
12,122
|
|
|
441
|
|
|
2018
|
|
1975
|
|
425 Buttonwood Street
|
Westerville, OH
|
|
—
|
|
|
740
|
|
|
8,287
|
|
|
4,076
|
|
|
740
|
|
|
12,363
|
|
|
10,273
|
|
|
1998
|
|
2001
|
|
690 Cooper Rd.
|
Westerville, OH
|
|
—
|
|
|
1,420
|
|
|
5,373
|
|
|
—
|
|
|
1,420
|
|
|
5,373
|
|
|
218
|
|
|
2018
|
|
1982
|
|
1060 Eastwind Drive
|
Westerville, OH
|
|
—
|
|
|
1,582
|
|
|
10,282
|
|
|
—
|
|
|
1,582
|
|
|
10,282
|
|
|
424
|
|
|
2018
|
|
1980
|
|
215 Huber Village Boulevard
|
Westfield, IN
|
|
—
|
|
|
890
|
|
|
15,964
|
|
|
1
|
|
|
890
|
|
|
15,965
|
|
|
2,462
|
|
|
2014
|
|
2013
|
|
937 E. 186th Street
|
Westlake, OH
|
|
—
|
|
|
855
|
|
|
11,966
|
|
|
—
|
|
|
855
|
|
|
11,966
|
|
|
474
|
|
|
2018
|
|
1997
|
|
28400 Center Ridge Road
|
Weston Super Mare, UK
|
|
—
|
|
|
2,517
|
|
|
7,054
|
|
|
723
|
|
|
2,707
|
|
|
7,587
|
|
|
1,290
|
|
|
2013
|
|
2011
|
|
141b Milton Road
|
Wheaton, MD
|
|
—
|
|
|
3,864
|
|
|
3,790
|
|
|
—
|
|
|
3,864
|
|
|
3,790
|
|
|
159
|
|
|
2018
|
|
1961
|
|
11901 Georgia Avenue
|
Whippany, NJ
|
|
—
|
|
|
1,571
|
|
|
14,982
|
|
|
—
|
|
|
1,571
|
|
|
14,982
|
|
|
597
|
|
|
2018
|
|
2000
|
|
18 Eden Lane
|
Wichita, KS
|
|
—
|
|
|
1,400
|
|
|
11,000
|
|
|
—
|
|
|
1,400
|
|
|
11,000
|
|
|
5,288
|
|
|
2006
|
|
1997
|
|
505 North Maize Road
|
Wichita, KS
|
|
—
|
|
|
860
|
|
|
8,873
|
|
|
—
|
|
|
860
|
|
|
8,873
|
|
|
2,058
|
|
|
2011
|
|
2012
|
|
10604 E 13th Street North
|
Wichita, KS
|
|
12,545
|
|
|
630
|
|
|
19,747
|
|
|
—
|
|
|
630
|
|
|
19,747
|
|
|
3,840
|
|
|
2012
|
|
2009
|
|
2050 North Webb Road
|
Wichita, KS
|
|
—
|
|
|
260
|
|
|
2,240
|
|
|
129
|
|
|
260
|
|
|
2,369
|
|
|
277
|
|
|
2015
|
|
1992
|
|
900 N Bayshore Dr
|
Wichita, KS
|
|
—
|
|
|
900
|
|
|
10,134
|
|
|
—
|
|
|
900
|
|
|
10,134
|
|
|
2,218
|
|
|
2011
|
|
2012
|
|
10600 E 13th Street North
|
Wilkes-Barre, PA
|
|
—
|
|
|
753
|
|
|
3,457
|
|
|
—
|
|
|
753
|
|
|
3,457
|
|
|
160
|
|
|
2018
|
|
1970
|
|
1548 Sans Souci Parkway
|
Williamsburg, VA
|
|
—
|
|
|
1,187
|
|
|
5,728
|
|
|
—
|
|
|
1,187
|
|
|
5,728
|
|
|
722
|
|
|
2018
|
|
2000
|
|
1811 Jamestown Rd
|
Williamsport, PA
|
|
—
|
|
|
919
|
|
|
6,926
|
|
|
—
|
|
|
919
|
|
|
6,926
|
|
|
276
|
|
|
2018
|
|
1976
|
|
300 Leader Drive
|
Williamsport, PA
|
|
—
|
|
|
780
|
|
|
1,899
|
|
|
—
|
|
|
780
|
|
|
1,899
|
|
|
100
|
|
|
2018
|
|
1972
|
|
101 Leader Drive
|
Williamstown, KY
|
|
—
|
|
|
70
|
|
|
6,430
|
|
|
—
|
|
|
70
|
|
|
6,430
|
|
|
2,649
|
|
|
2005
|
|
1987
|
|
201 Kimberly Lane
|
Willoughby, OH
|
|
—
|
|
|
1,774
|
|
|
8,655
|
|
|
—
|
|
|
1,774
|
|
|
8,655
|
|
|
349
|
|
|
2018
|
|
1974
|
|
37603 Euclid Avenue
|
Wilmington, DE
|
|
—
|
|
|
800
|
|
|
9,494
|
|
|
114
|
|
|
800
|
|
|
9,608
|
|
|
2,481
|
|
|
2011
|
|
1970
|
|
810 S Broom Street
|
Wilmington, DE
|
|
—
|
|
|
1,376
|
|
|
13,454
|
|
|
—
|
|
|
1,376
|
|
|
13,454
|
|
|
525
|
|
|
2018
|
|
1998
|
|
700 1/2 Foulk Road
|
Wilmington, DE
|
|
—
|
|
|
2,843
|
|
|
36,959
|
|
|
—
|
|
|
2,843
|
|
|
36,959
|
|
|
1,388
|
|
|
2018
|
|
1988
|
|
5651 Limestone Road
|
Wilmington, DE
|
|
—
|
|
|
2,266
|
|
|
9,503
|
|
|
—
|
|
|
2,266
|
|
|
9,503
|
|
|
381
|
|
|
2018
|
|
1984
|
|
700 Foulk Road
|
Wilmington, NC
|
|
—
|
|
|
210
|
|
|
2,991
|
|
|
—
|
|
|
210
|
|
|
2,991
|
|
|
1,630
|
|
|
1999
|
|
1999
|
|
3501 Converse Dr.
|
Wilmington, NC
|
|
—
|
|
|
400
|
|
|
15,355
|
|
|
—
|
|
|
400
|
|
|
15,355
|
|
|
2,307
|
|
|
2014
|
|
2012
|
|
3828 Independence Blvd
|
Windsor, VA
|
|
—
|
|
|
1,148
|
|
|
6,514
|
|
|
—
|
|
|
1,148
|
|
|
6,514
|
|
|
828
|
|
|
2018
|
|
1999
|
|
23352 Courthouse Hwy
|
Winston-Salem, NC
|
|
—
|
|
|
360
|
|
|
2,514
|
|
|
488
|
|
|
360
|
|
|
3,002
|
|
|
1,337
|
|
|
2003
|
|
1996
|
|
2980 Reynolda Rd.
|
Winter Garden, FL
|
|
—
|
|
|
1,110
|
|
|
7,937
|
|
|
—
|
|
|
1,110
|
|
|
7,937
|
|
|
1,618
|
|
|
2012
|
|
2013
|
|
720 Roper Road
|
Winter Springs, FL
|
|
—
|
|
|
1,152
|
|
|
14,826
|
|
|
—
|
|
|
1,152
|
|
|
14,826
|
|
|
573
|
|
|
2018
|
|
1999
|
|
1057 Willa Springs Drive
|
Witherwack, UK
|
|
—
|
|
|
944
|
|
|
6,915
|
|
|
593
|
|
|
1,015
|
|
|
7,437
|
|
|
1,265
|
|
|
2013
|
|
2009
|
|
Whitchurch Road
|
Wolverhampton, UK
|
|
—
|
|
|
1,573
|
|
|
6,678
|
|
|
624
|
|
|
1,692
|
|
|
7,183
|
|
|
1,232
|
|
|
2013
|
|
2011
|
|
378 Prestonwood Road
|
Woodbury, MN
|
|
—
|
|
|
1,317
|
|
|
20,935
|
|
|
298
|
|
|
1,317
|
|
|
21,233
|
|
|
1,665
|
|
|
2017
|
|
2015
|
|
2195 Century Avenue South
|
Woodstock, VA
|
|
—
|
|
|
594
|
|
|
5,108
|
|
|
—
|
|
|
594
|
|
|
5,108
|
|
|
594
|
|
|
2018
|
|
2001
|
|
803 S Main St
|
Worcester, MA
|
|
—
|
|
|
3,500
|
|
|
54,099
|
|
|
—
|
|
|
3,500
|
|
|
54,099
|
|
|
14,483
|
|
|
2007
|
|
2009
|
|
101 Barry Road
|
Worcester, MA
|
|
—
|
|
|
2,300
|
|
|
9,060
|
|
|
6,000
|
|
|
2,300
|
|
|
15,060
|
|
|
4,863
|
|
|
2008
|
|
1993
|
|
378 Plantation St.
|
Yardley, PA
|
|
—
|
|
|
773
|
|
|
14,918
|
|
|
—
|
|
|
773
|
|
|
14,918
|
|
|
609
|
|
|
2018
|
|
1995
|
|
493 Stony Hill Road
|
Yardley, PA
|
|
—
|
|
|
1,561
|
|
|
9,442
|
|
|
—
|
|
|
1,561
|
|
|
9,442
|
|
|
459
|
|
|
2018
|
|
1990
|
|
1480 Oxford Valley Road
|
Yeadon, PA
|
|
—
|
|
|
1,075
|
|
|
10,694
|
|
|
—
|
|
|
1,075
|
|
|
10,694
|
|
|
401
|
|
|
2018
|
|
1963
|
|
14 Lincoln Avenue
|
York, PA
|
|
—
|
|
|
976
|
|
|
9,357
|
|
|
—
|
|
|
976
|
|
|
9,357
|
|
|
372
|
|
|
2018
|
|
1972
|
|
200 Pauline Drive
|
York, PA
|
|
—
|
|
|
1,050
|
|
|
4,212
|
|
|
—
|
|
|
1,050
|
|
|
4,212
|
|
|
198
|
|
|
2018
|
|
1983
|
|
2400 Kingston Court
|
York, PA
|
|
—
|
|
|
1,121
|
|
|
7,586
|
|
|
—
|
|
|
1,121
|
|
|
7,586
|
|
|
322
|
|
|
2018
|
|
1979
|
|
1770 Barley Road
|
York, UK
|
|
—
|
|
|
2,961
|
|
|
8,266
|
|
|
848
|
|
|
3,185
|
|
|
8,890
|
|
|
1,225
|
|
|
2014
|
|
2006
|
|
Rosetta Way, Boroughbridge 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Youngsville, NC
|
|
—
|
|
|
380
|
|
|
10,686
|
|
|
—
|
|
|
380
|
|
|
10,686
|
|
|
1,563
|
|
|
2014
|
|
2013
|
|
100 Sunset Drive
|
|||||||
Zephyrhills, FL
|
|
—
|
|
|
2,131
|
|
|
6,671
|
|
|
—
|
|
|
2,131
|
|
|
6,671
|
|
|
297
|
|
|
2018
|
|
1987
|
|
38220 Henry Drive
|
|||||||
Zionsville, IN
|
|
—
|
|
|
1,610
|
|
|
22,400
|
|
|
1,683
|
|
|
1,609
|
|
|
24,084
|
|
|
5,782
|
|
|
2010
|
|
2009
|
|
11755 N Michigan Rd
|
|||||||
Triple-net Total
|
|
$
|
306,038
|
|
|
$
|
1,036,151
|
|
|
$
|
7,894,992
|
|
|
$
|
351,136
|
|
|
$
|
1,057,708
|
|
|
$
|
8,224,571
|
|
|
$
|
1,272,903
|
|
|
|
|
|
|
|
Welltower Inc.
|
|
|
||||||||||||||||||||||||||||||||
Schedule III
|
|
|
||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation
|
|
|
||||||||||||||||||||||||||||||||
December 31, 2019
|
|
|
||||||||||||||||||||||||||||||||
(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
|
|
$
|
5,762
|
|
|
$
|
102
|
|
|
$
|
18,842
|
|
|
$
|
—
|
|
|
$
|
102
|
|
|
$
|
18,842
|
|
|
$
|
575
|
|
|
2018
|
|
2012
|
|
303 West Lake Street
|
Agawam, MA
|
|
—
|
|
|
1,072
|
|
|
5,164
|
|
|
—
|
|
|
1,072
|
|
|
5,164
|
|
|
—
|
|
|
2019
|
|
2005
|
|
230-232 Main Street
|
|||||||
Allen, TX
|
|
—
|
|
|
726
|
|
|
14,196
|
|
|
1,302
|
|
|
726
|
|
|
15,498
|
|
|
5,329
|
|
|
2012
|
|
2006
|
|
1105 N Central Expressway
|
|||||||
Alpharetta, GA
|
|
—
|
|
|
476
|
|
|
14,694
|
|
|
—
|
|
|
476
|
|
|
14,694
|
|
|
5,694
|
|
|
2011
|
|
2003
|
|
11975 Morris Road
|
|||||||
Alpharetta, GA
|
|
—
|
|
|
1,862
|
|
|
—
|
|
|
—
|
|
|
1,862
|
|
|
—
|
|
|
—
|
|
|
2011
|
|
1900
|
|
940 North Point Parkway
|
|||||||
Alpharetta, GA
|
|
—
|
|
|
548
|
|
|
17,103
|
|
|
611
|
|
|
548
|
|
|
17,714
|
|
|
6,751
|
|
|
2011
|
|
2007
|
|
3300 Old Milton Parkway
|
|||||||
Alpharetta, GA
|
|
—
|
|
|
773
|
|
|
18,902
|
|
|
115
|
|
|
773
|
|
|
19,017
|
|
|
7,097
|
|
|
2011
|
|
1993
|
|
3400-A Old Milton Parkway
|
|||||||
Alpharetta, GA
|
|
—
|
|
|
1,769
|
|
|
36,152
|
|
|
762
|
|
|
1,769
|
|
|
36,914
|
|
|
14,961
|
|
|
2011
|
|
1999
|
|
3400-C Old Milton Parkway
|
|||||||
Anderson, IN
|
|
—
|
|
|
584
|
|
|
21,077
|
|
|
—
|
|
|
584
|
|
|
21,077
|
|
|
2,042
|
|
|
2017
|
|
2016
|
|
3125 S. Scatterfield Rd.
|
|||||||
Appleton, WI
|
|
7,045
|
|
|
1,881
|
|
|
8,866
|
|
|
—
|
|
|
1,881
|
|
|
8,866
|
|
|
—
|
|
|
2019
|
|
2004
|
|
5320 W Michael Drive
|
|||||||
Appleton, WI
|
|
12,343
|
|
|
3,782
|
|
|
20,440
|
|
|
—
|
|
|
3,782
|
|
|
20,440
|
|
|
—
|
|
|
2019
|
|
2005
|
|
2323 N Casaloma Drive
|
|||||||
Arcadia, CA
|
|
—
|
|
|
5,408
|
|
|
23,219
|
|
|
4,825
|
|
|
5,618
|
|
|
27,834
|
|
|
11,877
|
|
|
2006
|
|
1984
|
|
301 W. Huntington Drive
|
|||||||
Arlington, TX
|
|
—
|
|
|
82
|
|
|
18,243
|
|
|
413
|
|
|
82
|
|
|
18,656
|
|
|
4,290
|
|
|
2012
|
|
2012
|
|
902 W. Randol Mill Road
|
|||||||
Atlanta, GA
|
|
—
|
|
|
4,931
|
|
|
18,720
|
|
|
7,281
|
|
|
5,387
|
|
|
25,545
|
|
|
12,588
|
|
|
2006
|
|
1991
|
|
755 Mt. Vernon Hwy.
|
|||||||
Atlanta, GA
|
|
—
|
|
|
—
|
|
|
43,425
|
|
|
2,062
|
|
|
—
|
|
|
45,487
|
|
|
14,031
|
|
|
2012
|
|
2006
|
|
5670 Peachtree-Dunwoody Road
|
|||||||
Atlanta, GA
|
|
—
|
|
|
1,947
|
|
|
24,248
|
|
|
2,258
|
|
|
2,172
|
|
|
26,281
|
|
|
8,775
|
|
|
2012
|
|
1984
|
|
975 Johnson Ferry Road
|
|||||||
Austin, TX
|
|
—
|
|
|
1,066
|
|
|
10,112
|
|
|
—
|
|
|
1,066
|
|
|
10,112
|
|
|
926
|
|
|
2017
|
|
2017
|
|
5301-B Davis Lane
|
|||||||
Austin, TX
|
|
—
|
|
|
1,688
|
|
|
6,784
|
|
|
—
|
|
|
1,688
|
|
|
6,784
|
|
|
279
|
|
|
2019
|
|
2015
|
|
5301-A Davis Lane
|
|||||||
Baltimore, MD
|
|
—
|
|
|
4,490
|
|
|
31,222
|
|
|
—
|
|
|
4,490
|
|
|
31,222
|
|
|
—
|
|
|
2019
|
|
2014
|
|
1420 Key Highway
|
|||||||
Bardstown, KY
|
|
—
|
|
|
274
|
|
|
7,537
|
|
|
—
|
|
|
274
|
|
|
7,537
|
|
|
1,765
|
|
|
2010
|
|
2006
|
|
4359 New Shepherdsville Rd
|
|||||||
Bartlett, TN
|
|
—
|
|
|
187
|
|
|
15,015
|
|
|
2,346
|
|
|
187
|
|
|
17,361
|
|
|
7,436
|
|
|
2007
|
|
2004
|
|
2996 Kate Bond Rd.
|
|||||||
Bel Air, MD
|
|
—
|
|
|
—
|
|
|
24,769
|
|
|
56
|
|
|
—
|
|
|
24,825
|
|
|
2,385
|
|
|
2014
|
|
2016
|
|
12 Medstar Boulevard
|
|||||||
Bellaire, TX
|
|
—
|
|
|
5,482
|
|
|
32,478
|
|
|
—
|
|
|
5,482
|
|
|
32,478
|
|
|
790
|
|
|
2019
|
|
2007
|
|
5420 WEST LOOP SOUTH
|
|||||||
Bellaire, TX
|
|
—
|
|
|
5,572
|
|
|
72,478
|
|
|
—
|
|
|
5,572
|
|
|
72,478
|
|
|
1,172
|
|
|
2019
|
|
2007
|
|
5410 - 5420 WEST LOOP SOUTH
|
|||||||
Bellevue, NE
|
|
—
|
|
|
—
|
|
|
16,680
|
|
|
2
|
|
|
—
|
|
|
16,682
|
|
|
5,909
|
|
|
2010
|
|
2010
|
|
2510 Bellevue Medical Center Drive
|
|||||||
Bend, OR
|
|
—
|
|
|
16,516
|
|
|
30,338
|
|
|
—
|
|
|
16,516
|
|
|
30,338
|
|
|
830
|
|
|
2019
|
|
2001
|
|
1501 Northeast Medical Center Drive
|
|||||||
Berkeley Heights, NJ
|
|
—
|
|
|
49,555
|
|
|
92,806
|
|
|
—
|
|
|
49,555
|
|
|
92,806
|
|
|
1,117
|
|
|
2019
|
|
1978
|
|
1 Diamond Hill Road
|
|||||||
Bettendorf, IA
|
|
—
|
|
|
—
|
|
|
7,110
|
|
|
73
|
|
|
—
|
|
|
7,183
|
|
|
928
|
|
|
2013
|
|
2014
|
|
2140 53rd Avenue
|
|||||||
Beverly Hills, CA
|
|
—
|
|
|
20,766
|
|
|
40,730
|
|
|
3,591
|
|
|
20,766
|
|
|
44,321
|
|
|
7,885
|
|
|
2015
|
|
1946
|
|
9675 Brighton Way
|
|||||||
Beverly Hills, CA
|
|
—
|
|
|
19,863
|
|
|
31,690
|
|
|
1,683
|
|
|
19,863
|
|
|
33,373
|
|
|
5,461
|
|
|
2015
|
|
1946
|
|
416 North Bedford
|
|||||||
Beverly Hills, CA
|
|
33,729
|
|
|
32,603
|
|
|
28,639
|
|
|
1,149
|
|
|
32,603
|
|
|
29,788
|
|
|
6,111
|
|
|
2015
|
|
1950
|
|
435 North Bedford
|
|||||||
Beverly Hills, CA
|
|
—
|
|
|
18,863
|
|
|
1,192
|
|
|
420
|
|
|
18,885
|
|
|
1,590
|
|
|
793
|
|
|
2015
|
|
1955
|
|
415 North Bedford
|
|||||||
Beverly Hills, CA
|
|
78,271
|
|
|
52,772
|
|
|
87,366
|
|
|
897
|
|
|
52,772
|
|
|
88,263
|
|
|
13,738
|
|
|
2015
|
|
1989
|
|
436 North Bedford
|
|||||||
Birmingham, AL
|
|
—
|
|
|
3,940
|
|
|
12,315
|
|
|
—
|
|
|
3,940
|
|
|
12,315
|
|
|
286
|
|
|
2019
|
|
2015
|
|
4600 Highway 280
|
|||||||
Birmingham, AL
|
|
8,477
|
|
|
896
|
|
|
13,755
|
|
|
6
|
|
|
896
|
|
|
13,761
|
|
|
480
|
|
|
2018
|
|
1985
|
|
3485 Independence Drive
|
|||||||
Boca Raton, FL
|
|
—
|
|
|
31
|
|
|
12,312
|
|
|
444
|
|
|
251
|
|
|
12,536
|
|
|
4,018
|
|
|
2012
|
|
1993
|
|
9960 S. Central Park Boulevard
|
|||||||
Boca Raton, FL
|
|
—
|
|
|
109
|
|
|
34,002
|
|
|
4,125
|
|
|
214
|
|
|
38,022
|
|
|
15,196
|
|
|
2006
|
|
1995
|
|
9970 S. Central Park Blvd.
|
(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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Boerne, TX
|
|
—
|
|
|
50
|
|
|
12,951
|
|
|
915
|
|
|
86
|
|
|
13,830
|
|
|
4,004
|
|
|
2011
|
|
2007
|
|
134 Menger Springs Road
|
Boynton Beach, FL
|
|
—
|
|
|
13,324
|
|
|
40,369
|
|
|
3,178
|
|
|
14,049
|
|
|
42,822
|
|
|
13,758
|
|
|
2013
|
|
1995
|
|
10301 Hagen Ranch Road
|
Boynton Beach, FL
|
|
—
|
|
|
214
|
|
|
5,611
|
|
|
7,597
|
|
|
320
|
|
|
13,102
|
|
|
5,995
|
|
|
2007
|
|
1996
|
|
10075 Jog Rd.
|
Boynton Beach, FL
|
|
—
|
|
|
2,048
|
|
|
7,692
|
|
|
1,233
|
|
|
2,185
|
|
|
8,788
|
|
|
4,106
|
|
|
2006
|
|
1995
|
|
8188 Jog Rd.
|
Boynton Beach, FL
|
|
—
|
|
|
2,048
|
|
|
7,403
|
|
|
1,705
|
|
|
2,185
|
|
|
8,971
|
|
|
4,266
|
|
|
2006
|
|
1997
|
|
8200 Jog Road
|
Bradenton, FL
|
|
—
|
|
|
1,184
|
|
|
9,799
|
|
|
417
|
|
|
1,184
|
|
|
10,216
|
|
|
2,337
|
|
|
2014
|
|
1975
|
|
315 75th Street West
|
Bradenton, FL
|
|
—
|
|
|
1,035
|
|
|
4,298
|
|
|
17
|
|
|
1,035
|
|
|
4,315
|
|
|
1,085
|
|
|
2014
|
|
2006
|
|
7005 Cortez Road West
|
Brandon, FL
|
|
—
|
|
|
1,437
|
|
|
7,006
|
|
|
—
|
|
|
1,437
|
|
|
7,006
|
|
|
425
|
|
|
2018
|
|
2016
|
|
2020 Town Center Boulevard
|
Bridgeton, MO
|
|
—
|
|
|
1,701
|
|
|
6,228
|
|
|
245
|
|
|
1,501
|
|
|
6,673
|
|
|
1,009
|
|
|
2017
|
|
2008
|
|
3440 De Paul Ln.
|
Bridgeton, MO
|
|
—
|
|
|
450
|
|
|
21,221
|
|
|
1,248
|
|
|
450
|
|
|
22,469
|
|
|
7,743
|
|
|
2010
|
|
2006
|
|
12266 DePaul Dr
|
Buckhurst Hill, UK
|
|
—
|
|
|
11,989
|
|
|
50,907
|
|
|
2,540
|
|
|
12,473
|
|
|
52,963
|
|
|
6,406
|
|
|
2015
|
|
2013
|
|
High Road
|
Burleson, TX
|
|
—
|
|
|
10
|
|
|
12,611
|
|
|
701
|
|
|
10
|
|
|
13,312
|
|
|
4,701
|
|
|
2011
|
|
2007
|
|
12001 South Freeway
|
Burnsville, MN
|
|
—
|
|
|
—
|
|
|
31,596
|
|
|
2,182
|
|
|
—
|
|
|
33,778
|
|
|
9,564
|
|
|
2013
|
|
2014
|
|
14101 Fairview Dr
|
Cary, NC
|
|
—
|
|
|
2,816
|
|
|
11,146
|
|
|
—
|
|
|
2,816
|
|
|
11,146
|
|
|
460
|
|
|
2019
|
|
2007
|
|
540 Waverly Place
|
Castle Rock, CO
|
|
—
|
|
|
80
|
|
|
13,004
|
|
|
536
|
|
|
79
|
|
|
13,541
|
|
|
3,543
|
|
|
2014
|
|
2013
|
|
2352 Meadows Boulevard
|
Castle Rock, CO
|
|
—
|
|
|
—
|
|
|
11,795
|
|
|
195
|
|
|
—
|
|
|
11,990
|
|
|
747
|
|
|
2016
|
|
2017
|
|
Meadows Boulevard
|
Cedar Park, TX
|
|
—
|
|
|
132
|
|
|
23,753
|
|
|
4,448
|
|
|
132
|
|
|
28,201
|
|
|
3,471
|
|
|
2017
|
|
2014
|
|
1401 Medical Parkway, Building 2
|
Chapel Hill, NC
|
|
—
|
|
|
488
|
|
|
2,390
|
|
|
—
|
|
|
488
|
|
|
2,390
|
|
|
61
|
|
|
2019
|
|
2010
|
|
100 Perkins Drive
|
Chapel Hill, NC
|
|
5,161
|
|
|
1,970
|
|
|
8,874
|
|
|
50
|
|
|
1,970
|
|
|
8,924
|
|
|
406
|
|
|
2018
|
|
2007
|
|
6011 Farrington Road
|
Chapel Hill, NC
|
|
5,161
|
|
|
1,970
|
|
|
8,925
|
|
|
5
|
|
|
1,970
|
|
|
8,930
|
|
|
462
|
|
|
2018
|
|
2007
|
|
6013 Farrington Road
|
Chapel Hill, NC
|
|
14,669
|
|
|
5,681
|
|
|
25,035
|
|
|
15
|
|
|
5,681
|
|
|
25,050
|
|
|
1,193
|
|
|
2018
|
|
2006
|
|
2226 North Carolina Highway 54
|
Charleston, SC
|
|
—
|
|
|
2,815
|
|
|
25,648
|
|
|
—
|
|
|
2,815
|
|
|
25,648
|
|
|
5,380
|
|
|
2014
|
|
2009
|
|
325 Folly Road
|
Charlotte, NC
|
|
—
|
|
|
10
|
|
|
24,796
|
|
|
—
|
|
|
10
|
|
|
24,796
|
|
|
1,003
|
|
|
2019
|
|
1971
|
|
1900 Randolph Road
|
Charlotte, NC
|
|
—
|
|
|
30
|
|
|
61,799
|
|
|
—
|
|
|
30
|
|
|
61,799
|
|
|
2,329
|
|
|
2019
|
|
1994
|
|
1918 Randolph Road
|
Charlotte, NC
|
|
—
|
|
|
40
|
|
|
40,606
|
|
|
—
|
|
|
40
|
|
|
40,606
|
|
|
1,482
|
|
|
2019
|
|
1989
|
|
1718 East Fourth Street
|
Charlotte, NC
|
|
—
|
|
|
1,746
|
|
|
8,645
|
|
|
—
|
|
|
1,746
|
|
|
8,645
|
|
|
564
|
|
|
2019
|
|
1998
|
|
309 South Sharon Amity Road
|
Charlotte, NC
|
|
—
|
|
|
1,158
|
|
|
8,802
|
|
|
—
|
|
|
1,158
|
|
|
8,802
|
|
|
509
|
|
|
2019
|
|
1998
|
|
5039 Airport Center Parkway
|
Chicopee, MA
|
|
—
|
|
|
6,078
|
|
|
15,842
|
|
|
—
|
|
|
6,078
|
|
|
15,842
|
|
|
—
|
|
|
2019
|
|
2005
|
|
444 Montgomery Street
|
Chula Vista, CA
|
|
—
|
|
|
1,045
|
|
|
22,252
|
|
|
—
|
|
|
1,045
|
|
|
22,252
|
|
|
1,075
|
|
|
2019
|
|
1973
|
|
480 4th Avenue
|
Chula Vista, CA
|
|
—
|
|
|
826
|
|
|
5,557
|
|
|
—
|
|
|
826
|
|
|
5,557
|
|
|
280
|
|
|
2019
|
|
1985
|
|
450 4th Avenue
|
Chula Vista, CA
|
|
—
|
|
|
1,114
|
|
|
15,459
|
|
|
—
|
|
|
1,114
|
|
|
15,459
|
|
|
357
|
|
|
2019
|
|
2008
|
|
971 Lane Ave
|
Chula Vista, CA
|
|
—
|
|
|
1,075
|
|
|
7,165
|
|
|
—
|
|
|
1,075
|
|
|
7,165
|
|
|
167
|
|
|
2019
|
|
2006
|
|
959 Lane Ave
|
Cincinnati, OH
|
|
—
|
|
|
—
|
|
|
17,880
|
|
|
288
|
|
|
2
|
|
|
18,166
|
|
|
4,254
|
|
|
2012
|
|
2013
|
|
3301 Mercy Health Boulevard
|
Cincinnati, OH
|
|
—
|
|
|
537
|
|
|
10,122
|
|
|
—
|
|
|
537
|
|
|
10,122
|
|
|
548
|
|
|
2019
|
|
2001
|
|
4850 Red Bank Expressway
|
Claremont, CA
|
|
—
|
|
|
3,950
|
|
|
20,168
|
|
|
—
|
|
|
3,950
|
|
|
20,168
|
|
|
448
|
|
|
2019
|
|
2008
|
|
1601 Monte Vista Avenue
|
Clarkson Valley, MO
|
|
—
|
|
|
—
|
|
|
35,592
|
|
|
—
|
|
|
—
|
|
|
35,592
|
|
|
14,085
|
|
|
2009
|
|
2010
|
|
15945 Clayton Rd
|
Clear Lake, TX
|
|
—
|
|
|
—
|
|
|
13,882
|
|
|
20
|
|
|
2,319
|
|
|
11,583
|
|
|
1,544
|
|
|
2013
|
|
2014
|
|
1010 South Ponds Drive
|
Clyde, NC
|
|
—
|
|
|
1,433
|
|
|
22,062
|
|
|
—
|
|
|
1,433
|
|
|
22,062
|
|
|
402
|
|
|
2019
|
|
2012
|
|
581 Leroy George Drive
|
Columbia, MD
|
|
—
|
|
|
23
|
|
|
33,885
|
|
|
3,041
|
|
|
9,353
|
|
|
27,596
|
|
|
8,367
|
|
|
2015
|
|
1982
|
|
5450 & 5500 Knoll N Dr.
|
Columbia, MO
|
|
—
|
|
|
438
|
|
|
12,949
|
|
|
—
|
|
|
438
|
|
|
12,949
|
|
|
716
|
|
|
2019
|
|
1994
|
|
1601 E. Broadway
|
Columbia, MO
|
|
—
|
|
|
488
|
|
|
16,033
|
|
|
—
|
|
|
488
|
|
|
16,033
|
|
|
629
|
|
|
2019
|
|
1999
|
|
1605 E. Broadway
|
Columbia, MO
|
|
—
|
|
|
199
|
|
|
23,403
|
|
|
—
|
|
|
199
|
|
|
23,403
|
|
|
823
|
|
|
2019
|
|
2007
|
|
1705 E. Broadway
|
Columbia, MD
|
|
—
|
|
|
12,159
|
|
|
72,636
|
|
|
320
|
|
|
12,159
|
|
|
72,956
|
|
|
3,187
|
|
|
2018
|
|
2009
|
|
10710 Charter 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Columbia, MD
|
|
—
|
|
|
2,333
|
|
|
19,232
|
|
|
1,920
|
|
|
2,333
|
|
|
21,152
|
|
|
5,855
|
|
|
2012
|
|
2002
|
|
10700 Charter Drive
|
Coon Rapids, MN
|
|
—
|
|
|
—
|
|
|
26,679
|
|
|
1,143
|
|
|
—
|
|
|
27,822
|
|
|
6,473
|
|
|
2013
|
|
2014
|
|
11850 Blackfoot Street NW
|
Coral Springs, FL
|
|
—
|
|
|
2,109
|
|
|
12,189
|
|
|
—
|
|
|
2,109
|
|
|
12,189
|
|
|
516
|
|
|
2019
|
|
2005
|
|
2901 Coral Hills Drive
|
Coral Springs, FL
|
|
—
|
|
|
1,313
|
|
|
13,118
|
|
|
—
|
|
|
1,313
|
|
|
13,118
|
|
|
415
|
|
|
2019
|
|
2008
|
|
3001 Coral Hills Drive
|
Costa Mesa, CA
|
|
21,243
|
|
|
22,033
|
|
|
24,332
|
|
|
135
|
|
|
22,033
|
|
|
24,467
|
|
|
4,889
|
|
|
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
|
|
|
1,675
|
|
|
2011
|
|
1998
|
|
13413 US Hwy 301
|
Dallas, TX
|
|
—
|
|
|
122
|
|
|
15,418
|
|
|
25
|
|
|
122
|
|
|
15,443
|
|
|
2,311
|
|
|
2013
|
|
2014
|
|
8196 Walnut Hill Lane
|
Dallas, TX
|
|
—
|
|
|
6,086
|
|
|
18,007
|
|
|
1,437
|
|
|
6,536
|
|
|
18,994
|
|
|
1,362
|
|
|
2018
|
|
2010
|
|
10740 North Central Expressway
|
Dallas, TX
|
|
—
|
|
|
462
|
|
|
52,488
|
|
|
1,984
|
|
|
462
|
|
|
54,472
|
|
|
12,770
|
|
|
2012
|
|
2004
|
|
7115 Greenville Avenue
|
Deerfield Beach, FL
|
|
—
|
|
|
2,408
|
|
|
7,809
|
|
|
793
|
|
|
2,540
|
|
|
8,470
|
|
|
3,608
|
|
|
2011
|
|
2001
|
|
1192 East Newport Center Drive
|
Delray Beach, FL
|
|
—
|
|
|
1,882
|
|
|
34,767
|
|
|
816
|
|
|
2,451
|
|
|
35,014
|
|
|
18,094
|
|
|
2006
|
|
1985
|
|
5130-5150 Linton Blvd.
|
Dunkirk, MD
|
|
—
|
|
|
259
|
|
|
2,458
|
|
|
—
|
|
|
259
|
|
|
2,458
|
|
|
128
|
|
|
2019
|
|
1997
|
|
10845 Town Center Blvd
|
Durham, NC
|
|
—
|
|
|
1,212
|
|
|
22,858
|
|
|
2
|
|
|
1,212
|
|
|
22,860
|
|
|
4,750
|
|
|
2013
|
|
2012
|
|
1823 Hillandale Road
|
Durham, NC
|
|
—
|
|
|
1,403
|
|
|
25,163
|
|
|
—
|
|
|
1,403
|
|
|
25,163
|
|
|
552
|
|
|
2019
|
|
2000
|
|
120 William Penn Plaza
|
Durham, NC
|
|
—
|
|
|
1,751
|
|
|
44,425
|
|
|
—
|
|
|
1,751
|
|
|
44,425
|
|
|
801
|
|
|
2019
|
|
2004
|
|
3916 Ben Fanklin Boulevard
|
Edina, MN
|
|
—
|
|
|
310
|
|
|
13,105
|
|
|
—
|
|
|
310
|
|
|
13,105
|
|
|
4,988
|
|
|
2010
|
|
2003
|
|
8100 W 78th St
|
El Paso, TX
|
|
—
|
|
|
677
|
|
|
17,075
|
|
|
1,628
|
|
|
677
|
|
|
18,703
|
|
|
8,779
|
|
|
2006
|
|
1997
|
|
2400 Trawood Dr.
|
Elmhurst, IL
|
|
—
|
|
|
41
|
|
|
39,562
|
|
|
63
|
|
|
41
|
|
|
39,625
|
|
|
1,622
|
|
|
2018
|
|
2011
|
|
133 E Brush Hill Road
|
Elyria, OH
|
|
—
|
|
|
3,263
|
|
|
28,176
|
|
|
—
|
|
|
3,263
|
|
|
28,176
|
|
|
655
|
|
|
2019
|
|
2008
|
|
303 Chestnut Commons Drive
|
Escondido, CA
|
|
—
|
|
|
2,278
|
|
|
20,967
|
|
|
—
|
|
|
2,278
|
|
|
20,967
|
|
|
536
|
|
|
2019
|
|
1994
|
|
225 East 2nd Avenue
|
Everett, WA
|
|
—
|
|
|
4,842
|
|
|
26,010
|
|
|
62
|
|
|
4,842
|
|
|
26,072
|
|
|
8,671
|
|
|
2010
|
|
2011
|
|
13020 Meridian Ave. S.
|
Fenton, MO
|
|
—
|
|
|
958
|
|
|
27,461
|
|
|
—
|
|
|
958
|
|
|
27,461
|
|
|
8,411
|
|
|
2013
|
|
2009
|
|
1011 Bowles Avenue
|
Fenton, MO
|
|
—
|
|
|
369
|
|
|
13,911
|
|
|
198
|
|
|
369
|
|
|
14,109
|
|
|
3,371
|
|
|
2013
|
|
2009
|
|
1055 Bowles Avenue
|
Fish Kill, NY
|
|
—
|
|
|
2,144
|
|
|
36,880
|
|
|
—
|
|
|
2,144
|
|
|
36,880
|
|
|
—
|
|
|
2019
|
|
2008
|
|
2507 South Road
|
Florham Park, NJ
|
|
—
|
|
|
8,578
|
|
|
61,779
|
|
|
—
|
|
|
8,578
|
|
|
61,779
|
|
|
3,905
|
|
|
2017
|
|
2017
|
|
150 Park Avenue
|
Flower Mound, TX
|
|
—
|
|
|
737
|
|
|
9,276
|
|
|
232
|
|
|
737
|
|
|
9,508
|
|
|
1,916
|
|
|
2015
|
|
2014
|
|
2560 Central Park Avenue
|
Flower Mound, TX
|
|
—
|
|
|
4,164
|
|
|
27,027
|
|
|
1,171
|
|
|
4,164
|
|
|
28,198
|
|
|
6,161
|
|
|
2014
|
|
2012
|
|
4370 Medical Arts Drive
|
Flower Mound, TX
|
|
—
|
|
|
4,620
|
|
|
—
|
|
|
—
|
|
|
4,620
|
|
|
—
|
|
|
—
|
|
|
2014
|
|
1900
|
|
Medical Arts Drive
|
Fort Worth, TX
|
|
—
|
|
|
462
|
|
|
26,020
|
|
|
373
|
|
|
462
|
|
|
26,393
|
|
|
6,226
|
|
|
2012
|
|
2012
|
|
10840 Texas Health Trail
|
Fort Worth, TX
|
|
—
|
|
|
401
|
|
|
5,266
|
|
|
—
|
|
|
401
|
|
|
5,266
|
|
|
1,508
|
|
|
2014
|
|
2007
|
|
7200 Oakmont Boulevard
|
Franklin, TN
|
|
—
|
|
|
2,338
|
|
|
12,138
|
|
|
3,060
|
|
|
2,338
|
|
|
15,198
|
|
|
6,716
|
|
|
2007
|
|
1988
|
|
100 Covey Drive
|
Frederick, MD
|
|
—
|
|
|
1,065
|
|
|
7,430
|
|
|
—
|
|
|
1,065
|
|
|
7,430
|
|
|
266
|
|
|
2019
|
|
1979
|
|
194 Thomas Johnson Drive
|
Frederick, MD
|
|
—
|
|
|
1,930
|
|
|
18,748
|
|
|
—
|
|
|
1,930
|
|
|
18,748
|
|
|
905
|
|
|
2019
|
|
2006
|
|
45 Thomas Johnson Drive
|
Fresno, CA
|
|
—
|
|
|
1,497
|
|
|
12,669
|
|
|
—
|
|
|
1,497
|
|
|
12,669
|
|
|
—
|
|
|
2019
|
|
2004
|
|
1105 E Spruce Ave
|
Frisco, TX
|
|
—
|
|
|
—
|
|
|
18,635
|
|
|
219
|
|
|
—
|
|
|
18,854
|
|
|
7,798
|
|
|
2007
|
|
2004
|
|
4401 Coit Road
|
Frisco, TX
|
|
—
|
|
|
—
|
|
|
15,309
|
|
|
2,357
|
|
|
—
|
|
|
17,666
|
|
|
7,383
|
|
|
2007
|
|
2004
|
|
4461 Coit Road
|
Gallatin, TN
|
|
—
|
|
|
20
|
|
|
21,801
|
|
|
1,763
|
|
|
44
|
|
|
23,540
|
|
|
9,124
|
|
|
2010
|
|
1997
|
|
300 Steam Plant Rd
|
Gardendale, AL
|
|
4,246
|
|
|
1,150
|
|
|
8,162
|
|
|
211
|
|
|
1,150
|
|
|
8,373
|
|
|
465
|
|
|
2018
|
|
2005
|
|
2217 Decatur Highway
|
Garland, TX
|
|
—
|
|
|
4,952
|
|
|
32,718
|
|
|
—
|
|
|
4,952
|
|
|
32,718
|
|
|
883
|
|
|
2019
|
|
2018
|
|
7217 Telecome Parkway
|
Gastonia, NC
|
|
—
|
|
|
569
|
|
|
1,092
|
|
|
—
|
|
|
569
|
|
|
1,092
|
|
|
128
|
|
|
2019
|
|
2000
|
|
934 Cox Road
|
Gig Harbor, WA
|
|
—
|
|
|
80
|
|
|
30,810
|
|
|
1,302
|
|
|
80
|
|
|
32,112
|
|
|
5,032
|
|
|
2010
|
|
2009
|
|
11511 Canterwood Blvd. NW
|
Glendale, CA
|
|
—
|
|
|
70
|
|
|
44,354
|
|
|
—
|
|
|
70
|
|
|
44,354
|
|
|
1,011
|
|
|
2019
|
|
2008
|
|
1500 E Chevy Chase 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Glendale, CA
|
|
—
|
|
|
37
|
|
|
18,398
|
|
|
310
|
|
|
37
|
|
|
18,708
|
|
|
7,136
|
|
|
2007
|
|
2002
|
|
222 W. Eulalia St.
|
Gloucester, VA
|
|
—
|
|
|
2,128
|
|
|
9,169
|
|
|
5
|
|
|
2,128
|
|
|
9,174
|
|
|
473
|
|
|
2018
|
|
2008
|
|
5659 Parkway Drive
|
Grand Prairie, TX
|
|
—
|
|
|
981
|
|
|
6,086
|
|
|
—
|
|
|
981
|
|
|
6,086
|
|
|
2,399
|
|
|
2012
|
|
2009
|
|
2740 N State Hwy 360
|
Grapevine, TX
|
|
—
|
|
|
—
|
|
|
5,943
|
|
|
4,778
|
|
|
2,081
|
|
|
8,640
|
|
|
2,004
|
|
|
2014
|
|
2002
|
|
2040 W State Hwy 114
|
Grapevine, TX
|
|
—
|
|
|
3,365
|
|
|
15,669
|
|
|
2,248
|
|
|
3,365
|
|
|
17,917
|
|
|
4,449
|
|
|
2014
|
|
2002
|
|
2020 W State Hwy 114
|
Greenville, SC
|
|
—
|
|
|
1,567
|
|
|
5,167
|
|
|
—
|
|
|
1,567
|
|
|
5,167
|
|
|
504
|
|
|
2019
|
|
1987
|
|
10 Enterprise Boulevard
|
Greenwood, IN
|
|
—
|
|
|
2,098
|
|
|
21,538
|
|
|
638
|
|
|
2,098
|
|
|
22,176
|
|
|
4,393
|
|
|
2014
|
|
2013
|
|
3000 S State Road 135
|
Greenwood, IN
|
|
—
|
|
|
1,262
|
|
|
7,045
|
|
|
8
|
|
|
1,262
|
|
|
7,053
|
|
|
1,953
|
|
|
2014
|
|
2010
|
|
333 E County Line Road
|
Harrisburg, NC
|
|
—
|
|
|
1,347
|
|
|
3,059
|
|
|
—
|
|
|
1,347
|
|
|
3,059
|
|
|
170
|
|
|
2019
|
|
2012
|
|
9550 Rocky River Road
|
Hattiesburg, MS
|
|
17,986
|
|
|
3,155
|
|
|
34,710
|
|
|
—
|
|
|
3,155
|
|
|
34,710
|
|
|
—
|
|
|
2019
|
|
2012
|
|
3688 Veterans Memorial Drive
|
Haymarket, VA
|
|
—
|
|
|
1,250
|
|
|
29,254
|
|
|
—
|
|
|
1,250
|
|
|
29,254
|
|
|
595
|
|
|
2019
|
|
2008
|
|
15195 Heathcote Blvd
|
Henderson, NV
|
|
—
|
|
|
2,587
|
|
|
5,654
|
|
|
—
|
|
|
2,587
|
|
|
5,654
|
|
|
141
|
|
|
2019
|
|
2002
|
|
2825 Siena Heights Drive
|
Henderson, NV
|
|
—
|
|
|
7,372
|
|
|
24,027
|
|
|
—
|
|
|
7,372
|
|
|
24,027
|
|
|
730
|
|
|
2019
|
|
2005
|
|
2845 Siena Heights Drive
|
Henderson, NV
|
|
—
|
|
|
5,492
|
|
|
18,718
|
|
|
—
|
|
|
5,492
|
|
|
18,718
|
|
|
504
|
|
|
2019
|
|
2005
|
|
2865 Siena Heights Drive
|
Highland, IL
|
|
—
|
|
|
—
|
|
|
8,834
|
|
|
31
|
|
|
—
|
|
|
8,865
|
|
|
1,897
|
|
|
2012
|
|
2013
|
|
12860 Troxler Avenue
|
Hopewell Junction, NY
|
|
—
|
|
|
2,164
|
|
|
5,333
|
|
|
—
|
|
|
2,164
|
|
|
5,333
|
|
|
—
|
|
|
2019
|
|
1999
|
|
10 Cranberry Drive
|
Hopewell Junction, NY
|
|
—
|
|
|
2,316
|
|
|
5,332
|
|
|
—
|
|
|
2,316
|
|
|
5,332
|
|
|
—
|
|
|
2019
|
|
2015
|
|
1955 NY-52
|
Houston, TX
|
|
—
|
|
|
10,403
|
|
|
—
|
|
|
—
|
|
|
10,403
|
|
|
—
|
|
|
8
|
|
|
2011
|
|
1900
|
|
F.M. 1960 & Northgate Forest Dr.
|
Houston, TX
|
|
—
|
|
|
5,837
|
|
|
33,109
|
|
|
1,028
|
|
|
5,837
|
|
|
34,137
|
|
|
12,856
|
|
|
2012
|
|
2005
|
|
15655 Cypress Woods Medical Dr.
|
Houston, TX
|
|
—
|
|
|
2,988
|
|
|
18,018
|
|
|
—
|
|
|
2,988
|
|
|
18,018
|
|
|
—
|
|
|
2016
|
|
2019
|
|
13105 Wortham Center Drive
|
Houston, TX
|
|
—
|
|
|
3,688
|
|
|
13,313
|
|
|
132
|
|
|
3,688
|
|
|
13,445
|
|
|
3,990
|
|
|
2012
|
|
2007
|
|
10701 Vintage Preserve Parkway
|
Houston, TX
|
|
—
|
|
|
1,099
|
|
|
1,604
|
|
|
81,406
|
|
|
12,815
|
|
|
71,294
|
|
|
16,843
|
|
|
2012
|
|
1998
|
|
2727 W Holcombe Boulevard
|
Houston, TX
|
|
3,775
|
|
|
377
|
|
|
13,660
|
|
|
—
|
|
|
377
|
|
|
13,660
|
|
|
741
|
|
|
2018
|
|
2011
|
|
20207 Chasewood Park Drive
|
Howell, MI
|
|
—
|
|
|
2,000
|
|
|
13,928
|
|
|
794
|
|
|
2,000
|
|
|
14,722
|
|
|
747
|
|
|
2016
|
|
2017
|
|
1225 South Latson Road
|
Humble, TX
|
|
—
|
|
|
—
|
|
|
9,941
|
|
|
—
|
|
|
1,702
|
|
|
8,239
|
|
|
1,064
|
|
|
2013
|
|
2014
|
|
8233 N. Sam Houston Parkway E.
|
Huntersville, NC
|
|
—
|
|
|
—
|
|
|
42,143
|
|
|
—
|
|
|
—
|
|
|
42,143
|
|
|
1,357
|
|
|
2019
|
|
2004
|
|
10030 Gilead Road
|
Jackson, MI
|
|
—
|
|
|
668
|
|
|
17,294
|
|
|
—
|
|
|
668
|
|
|
17,294
|
|
|
5,075
|
|
|
2013
|
|
2009
|
|
1201 E Michigan Avenue
|
Jacksonville, FL
|
|
—
|
|
|
3,562
|
|
|
27,249
|
|
|
—
|
|
|
3,562
|
|
|
27,249
|
|
|
799
|
|
|
2019
|
|
2006
|
|
10475 Centurion Parkway North
|
Jefferson City, TN
|
|
—
|
|
|
109
|
|
|
16,453
|
|
|
—
|
|
|
109
|
|
|
16,453
|
|
|
559
|
|
|
2019
|
|
2001
|
|
120 Hospital Drive
|
Jonesboro, GA
|
|
—
|
|
|
567
|
|
|
16,329
|
|
|
—
|
|
|
567
|
|
|
16,329
|
|
|
482
|
|
|
2019
|
|
2009
|
|
7813 Spivey Station Boulevard
|
Jonesboro, GA
|
|
—
|
|
|
627
|
|
|
16,554
|
|
|
—
|
|
|
627
|
|
|
16,554
|
|
|
452
|
|
|
2019
|
|
2007
|
|
7823 Spivey Station Boulevard
|
Jupiter, FL
|
|
—
|
|
|
2,825
|
|
|
5,858
|
|
|
1,298
|
|
|
3,036
|
|
|
6,945
|
|
|
3,289
|
|
|
2007
|
|
2004
|
|
600 Heritage Dr.
|
Jupiter, FL
|
|
—
|
|
|
2,252
|
|
|
11,415
|
|
|
3,889
|
|
|
2,639
|
|
|
14,917
|
|
|
6,242
|
|
|
2006
|
|
2001
|
|
550 Heritage Dr.
|
Killeen, TX
|
|
—
|
|
|
—
|
|
|
3,756
|
|
|
2,235
|
|
|
—
|
|
|
5,991
|
|
|
387
|
|
|
2018
|
|
1990
|
|
2301 S. Clear Creek
|
Killeen, TX
|
|
—
|
|
|
1,907
|
|
|
3,575
|
|
|
—
|
|
|
1,907
|
|
|
3,575
|
|
|
655
|
|
|
2011
|
|
2012
|
|
5702 E Central Texas Expressway
|
Killeen, TX
|
|
—
|
|
|
760
|
|
|
22,878
|
|
|
143
|
|
|
795
|
|
|
22,986
|
|
|
8,746
|
|
|
2010
|
|
2010
|
|
2405 Clear Creek Rd
|
Knoxville, TN
|
|
—
|
|
|
199
|
|
|
45,961
|
|
|
—
|
|
|
199
|
|
|
45,961
|
|
|
1,003
|
|
|
2019
|
|
2012
|
|
1926 Alcoa Highway
|
La Jolla, CA
|
|
—
|
|
|
12,855
|
|
|
32,658
|
|
|
1,496
|
|
|
12,855
|
|
|
34,154
|
|
|
7,206
|
|
|
2015
|
|
1989
|
|
4150 Regents Park Row
|
La Jolla, CA
|
|
—
|
|
|
9,425
|
|
|
26,525
|
|
|
392
|
|
|
9,425
|
|
|
26,917
|
|
|
4,894
|
|
|
2015
|
|
1988
|
|
4120 & 4130 La Jolla Village Drive
|
La Quinta, CA
|
|
—
|
|
|
3,266
|
|
|
22,066
|
|
|
668
|
|
|
3,279
|
|
|
22,721
|
|
|
5,515
|
|
|
2014
|
|
2006
|
|
47647 Caleo Bay Drive
|
Lacey, WA
|
|
6,589
|
|
|
1,751
|
|
|
10,345
|
|
|
—
|
|
|
1,751
|
|
|
10,345
|
|
|
530
|
|
|
2018
|
|
1971
|
|
2555 Marvin Road Northeast
|
Lake St Louis, MO
|
|
—
|
|
|
240
|
|
|
14,249
|
|
|
337
|
|
|
240
|
|
|
14,586
|
|
|
5,462
|
|
|
2010
|
|
2008
|
|
400 Medical Dr
|
(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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Lakeway, TX
|
|
—
|
|
|
2,801
|
|
|
—
|
|
|
—
|
|
|
2,801
|
|
|
—
|
|
|
—
|
|
|
2007
|
|
1900
|
|
Lohmans Crossing Road
|
Lakewood, CA
|
|
—
|
|
|
146
|
|
|
14,885
|
|
|
1,956
|
|
|
146
|
|
|
16,841
|
|
|
6,771
|
|
|
2006
|
|
1993
|
|
5750 Downey Ave.
|
Lakewood, WA
|
|
—
|
|
|
72
|
|
|
16,017
|
|
|
707
|
|
|
72
|
|
|
16,724
|
|
|
4,648
|
|
|
2012
|
|
2005
|
|
11307 Bridgeport Way SW
|
Land O Lakes, FL
|
|
—
|
|
|
3,025
|
|
|
26,249
|
|
|
—
|
|
|
3,025
|
|
|
26,249
|
|
|
2,035
|
|
|
2017
|
|
2009
|
|
2100 Via Bella
|
Land O Lakes, FL
|
|
—
|
|
|
1,376
|
|
|
6,750
|
|
|
—
|
|
|
1,376
|
|
|
6,750
|
|
|
581
|
|
|
2017
|
|
2011
|
|
2150 Via Bella
|
Las Vegas, NV
|
|
—
|
|
|
433
|
|
|
4,928
|
|
|
—
|
|
|
433
|
|
|
4,928
|
|
|
2,088
|
|
|
2007
|
|
1997
|
|
1776 E. Warm Springs Rd.
|
Las Vegas, NV
|
|
—
|
|
|
2,319
|
|
|
4,612
|
|
|
1,486
|
|
|
2,319
|
|
|
6,098
|
|
|
2,962
|
|
|
2006
|
|
1991
|
|
2870 S. Maryland Pkwy.
|
Lincoln, NE
|
|
—
|
|
|
1,420
|
|
|
29,723
|
|
|
711
|
|
|
1,420
|
|
|
30,434
|
|
|
11,316
|
|
|
2010
|
|
2003
|
|
575 South 70th St
|
Little Rock, AR
|
|
—
|
|
|
3,021
|
|
|
16,058
|
|
|
—
|
|
|
3,021
|
|
|
16,058
|
|
|
124
|
|
|
2019
|
|
2014
|
|
6119 Midtown Avenue
|
London, UK
|
|
—
|
|
|
5,229
|
|
|
11,551
|
|
|
678
|
|
|
5,440
|
|
|
12,018
|
|
|
1,454
|
|
|
2015
|
|
2007
|
|
17-19 View Road
|
London, UK
|
|
—
|
|
|
17,983
|
|
|
157,802
|
|
|
7,098
|
|
|
18,709
|
|
|
164,174
|
|
|
19,858
|
|
|
2015
|
|
2010
|
|
53 Parkside
|
London, UK
|
|
—
|
|
|
4,081
|
|
|
28,107
|
|
|
1,300
|
|
|
4,246
|
|
|
29,242
|
|
|
3,537
|
|
|
2015
|
|
2003
|
|
49 Parkside
|
Los Alamitos, CA
|
|
—
|
|
|
39
|
|
|
18,340
|
|
|
—
|
|
|
39
|
|
|
18,340
|
|
|
7,081
|
|
|
2007
|
|
2003
|
|
3771 Katella Ave.
|
Los Gatos, CA
|
|
—
|
|
|
488
|
|
|
21,961
|
|
|
—
|
|
|
488
|
|
|
21,961
|
|
|
9,127
|
|
|
2006
|
|
1993
|
|
555 Knowles Dr.
|
Los Gatos, CA
|
|
—
|
|
|
16,896
|
|
|
—
|
|
|
—
|
|
|
16,896
|
|
|
—
|
|
|
—
|
|
|
2019
|
|
1900
|
|
555 Knowles Dr.
|
Loxahatchee, FL
|
|
—
|
|
|
1,340
|
|
|
6,509
|
|
|
1,490
|
|
|
1,440
|
|
|
7,899
|
|
|
3,475
|
|
|
2006
|
|
1993
|
|
12989 Southern Blvd.
|
Loxahatchee, FL
|
|
—
|
|
|
1,553
|
|
|
4,694
|
|
|
1,680
|
|
|
1,650
|
|
|
6,277
|
|
|
2,948
|
|
|
2006
|
|
1994
|
|
12983 Southern Blvd.
|
Loxahatchee, FL
|
|
—
|
|
|
1,637
|
|
|
5,048
|
|
|
1,280
|
|
|
1,719
|
|
|
6,246
|
|
|
2,942
|
|
|
2006
|
|
1997
|
|
12977 Southern Blvd.
|
Lubbock, TX
|
|
42,982
|
|
|
2,286
|
|
|
72,893
|
|
|
—
|
|
|
2,286
|
|
|
72,893
|
|
|
—
|
|
|
2019
|
|
2006
|
|
4515 Marsha Sharp Freeway
|
Lynbrook, NY
|
|
27,196
|
|
|
10,028
|
|
|
37,319
|
|
|
658
|
|
|
10,028
|
|
|
37,977
|
|
|
1,635
|
|
|
2018
|
|
1962
|
|
444 Merrick Road
|
Madison, WI
|
|
—
|
|
|
3,670
|
|
|
28,329
|
|
|
—
|
|
|
3,670
|
|
|
28,329
|
|
|
620
|
|
|
2019
|
|
2012
|
|
1102 South Park Street
|
Margate, FL
|
|
—
|
|
|
219
|
|
|
9,293
|
|
|
—
|
|
|
219
|
|
|
9,293
|
|
|
410
|
|
|
2019
|
|
2004
|
|
2960 N. State Rd 7
|
Marietta, GA
|
|
—
|
|
|
2,682
|
|
|
20,053
|
|
|
1,516
|
|
|
2,703
|
|
|
21,548
|
|
|
3,465
|
|
|
2016
|
|
2016
|
|
4800 Olde Towne Parkway
|
Matthews, NC
|
|
—
|
|
|
10
|
|
|
32,741
|
|
|
—
|
|
|
10
|
|
|
32,741
|
|
|
983
|
|
|
2019
|
|
1994
|
|
1450 Matthews Township Parkway
|
Menasha, WI
|
|
—
|
|
|
1,374
|
|
|
13,861
|
|
|
2,963
|
|
|
1,345
|
|
|
16,853
|
|
|
2,827
|
|
|
2016
|
|
1994
|
|
1550 Midway Place
|
Merced, CA
|
|
—
|
|
|
—
|
|
|
13,772
|
|
|
815
|
|
|
—
|
|
|
14,587
|
|
|
5,593
|
|
|
2009
|
|
2010
|
|
315 Mercy Ave.
|
Meridian, ID
|
|
—
|
|
|
3,206
|
|
|
27,107
|
|
|
—
|
|
|
3,206
|
|
|
27,107
|
|
|
—
|
|
|
2019
|
|
2009
|
|
3277 E Louise Drive
|
Mesquite, TX
|
|
—
|
|
|
496
|
|
|
3,834
|
|
|
—
|
|
|
496
|
|
|
3,834
|
|
|
1,203
|
|
|
2012
|
|
2012
|
|
1575 I-30
|
Mission Hills, CA
|
|
23,325
|
|
|
—
|
|
|
42,276
|
|
|
6,889
|
|
|
4,791
|
|
|
44,374
|
|
|
10,268
|
|
|
2014
|
|
1986
|
|
11550 Indian Hills Road
|
Missouri City, TX
|
|
—
|
|
|
1,360
|
|
|
7,143
|
|
|
—
|
|
|
1,360
|
|
|
7,143
|
|
|
595
|
|
|
2015
|
|
2016
|
|
7010 Highway 6
|
Mobile, AL
|
|
15,755
|
|
|
2,759
|
|
|
25,180
|
|
|
13
|
|
|
2,759
|
|
|
25,193
|
|
|
990
|
|
|
2018
|
|
2003
|
|
6144 Airport Boulevard
|
Moline, IL
|
|
—
|
|
|
—
|
|
|
8,783
|
|
|
69
|
|
|
—
|
|
|
8,852
|
|
|
1,416
|
|
|
2012
|
|
2013
|
|
3900 28th Avenue Drive
|
Monticello, MN
|
|
6,367
|
|
|
61
|
|
|
18,489
|
|
|
139
|
|
|
61
|
|
|
18,628
|
|
|
4,661
|
|
|
2012
|
|
2008
|
|
1001 Hart Boulevard
|
Moorestown, NJ
|
|
—
|
|
|
6
|
|
|
50,896
|
|
|
867
|
|
|
362
|
|
|
51,407
|
|
|
14,676
|
|
|
2011
|
|
2012
|
|
401 Young Avenue
|
Mount Juliet, TN
|
|
—
|
|
|
1,566
|
|
|
11,697
|
|
|
1,779
|
|
|
1,601
|
|
|
13,441
|
|
|
6,077
|
|
|
2007
|
|
2005
|
|
5002 Crossings Circle
|
Mount Kisco, NY
|
|
—
|
|
|
12,632
|
|
|
51,220
|
|
|
—
|
|
|
12,632
|
|
|
51,220
|
|
|
—
|
|
|
2019
|
|
1996
|
|
90 - 110 South Bedford Road
|
Mount Vernon, IL
|
|
—
|
|
|
—
|
|
|
24,892
|
|
|
109
|
|
|
—
|
|
|
25,001
|
|
|
7,330
|
|
|
2011
|
|
2012
|
|
2 Good Samaritan Way
|
Murrieta, CA
|
|
—
|
|
|
—
|
|
|
47,190
|
|
|
110
|
|
|
—
|
|
|
47,300
|
|
|
20,411
|
|
|
2010
|
|
2011
|
|
28078 Baxter Rd.
|
Murrieta, CA
|
|
—
|
|
|
3,800
|
|
|
—
|
|
|
—
|
|
|
3,800
|
|
|
—
|
|
|
—
|
|
|
2014
|
|
1900
|
|
28078 Baxter Rd.
|
Myrtle Beach, SC
|
|
—
|
|
|
1,357
|
|
|
3,658
|
|
|
—
|
|
|
1,357
|
|
|
3,658
|
|
|
565
|
|
|
2019
|
|
1996
|
|
8170 Rourk Street
|
Nampa, ID
|
|
15,675
|
|
|
3,439
|
|
|
21,566
|
|
|
—
|
|
|
3,439
|
|
|
21,566
|
|
|
—
|
|
|
2019
|
|
2017
|
|
1512 12th Avenue
|
Nashville, TN
|
|
—
|
|
|
1,806
|
|
|
7,165
|
|
|
3,888
|
|
|
1,942
|
|
|
10,917
|
|
|
5,061
|
|
|
2006
|
|
1986
|
|
310 25th Ave. N.
|
New Albany, IN
|
|
—
|
|
|
2,411
|
|
|
16,494
|
|
|
152
|
|
|
2,414
|
|
|
16,643
|
|
|
3,643
|
|
|
2014
|
|
2001
|
|
2210 Green Valley 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Newburgh, NY
|
|
—
|
|
|
9,213
|
|
|
32,354
|
|
|
—
|
|
|
9,213
|
|
|
32,354
|
|
|
—
|
|
|
2019
|
|
2015
|
|
1200 NY-300
|
Newburyport, MA
|
|
—
|
|
|
3,104
|
|
|
19,370
|
|
|
—
|
|
|
3,104
|
|
|
19,370
|
|
|
684
|
|
|
2019
|
|
2008
|
|
One Wallace Bashaw Jr. Way
|
Niagara Falls, NY
|
|
—
|
|
|
1,433
|
|
|
10,891
|
|
|
519
|
|
|
1,721
|
|
|
11,122
|
|
|
6,187
|
|
|
2007
|
|
1995
|
|
6932 - 6934 Williams Rd
|
Niagara Falls, NY
|
|
—
|
|
|
454
|
|
|
8,362
|
|
|
310
|
|
|
454
|
|
|
8,672
|
|
|
3,620
|
|
|
2007
|
|
2004
|
|
6930 Williams Rd
|
Norfolk, VA
|
|
—
|
|
|
1,138
|
|
|
26,989
|
|
|
—
|
|
|
1,138
|
|
|
26,989
|
|
|
1,006
|
|
|
2019
|
|
2014
|
|
155 Kingsley Lane
|
North Canton, OH
|
|
13,202
|
|
|
2,518
|
|
|
24,452
|
|
|
—
|
|
|
2,518
|
|
|
24,452
|
|
|
—
|
|
|
2019
|
|
2014
|
|
7442 Frank Avenue
|
North Easton, MA
|
|
—
|
|
|
2,336
|
|
|
19,876
|
|
|
—
|
|
|
2,336
|
|
|
19,876
|
|
|
—
|
|
|
2019
|
|
2007
|
|
15 Roche Brothers Way
|
North Easton, MA
|
|
—
|
|
|
2,882
|
|
|
15,999
|
|
|
—
|
|
|
2,882
|
|
|
15,999
|
|
|
—
|
|
|
2019
|
|
2008
|
|
31 Roche Brothers Way
|
Norwood, OH
|
|
—
|
|
|
1,017
|
|
|
6,638
|
|
|
—
|
|
|
1,017
|
|
|
6,638
|
|
|
50
|
|
|
2019
|
|
2006
|
|
4685 Forest Avenue
|
Novi, MI
|
|
—
|
|
|
895
|
|
|
36,944
|
|
|
—
|
|
|
895
|
|
|
36,944
|
|
|
1,013
|
|
|
2019
|
|
2008
|
|
26750 Providence Parkway
|
Oklahoma City, OK
|
|
—
|
|
|
216
|
|
|
18,762
|
|
|
—
|
|
|
216
|
|
|
18,762
|
|
|
5,419
|
|
|
2013
|
|
2008
|
|
535 NW 9th Street
|
Oro Valley, AZ
|
|
—
|
|
|
89
|
|
|
18,339
|
|
|
1,101
|
|
|
89
|
|
|
19,440
|
|
|
7,305
|
|
|
2007
|
|
2004
|
|
1521 East Tangerine Rd.
|
Oxford, NC
|
|
—
|
|
|
478
|
|
|
4,971
|
|
|
—
|
|
|
478
|
|
|
4,971
|
|
|
125
|
|
|
2019
|
|
2011
|
|
107 East McClanahan Street
|
Palmer, AK
|
|
—
|
|
|
283
|
|
|
8,335
|
|
|
265
|
|
|
283
|
|
|
8,600
|
|
|
549
|
|
|
2017
|
|
2018
|
|
2480 S Woodworth Loop
|
Palmer, AK
|
|
—
|
|
|
217
|
|
|
29,705
|
|
|
1,486
|
|
|
217
|
|
|
31,191
|
|
|
11,825
|
|
|
2007
|
|
2006
|
|
2490 South Woodworth Loop
|
Pasadena, TX
|
|
—
|
|
|
1,700
|
|
|
8,009
|
|
|
158
|
|
|
1,700
|
|
|
8,167
|
|
|
1,328
|
|
|
2012
|
|
2013
|
|
5001 E Sam Houston Parkway S
|
Pearland, TX
|
|
—
|
|
|
1,500
|
|
|
11,253
|
|
|
6
|
|
|
1,500
|
|
|
11,259
|
|
|
1,739
|
|
|
2012
|
|
2013
|
|
2515 Business Center Drive
|
Pearland, TX
|
|
—
|
|
|
9,594
|
|
|
32,753
|
|
|
191
|
|
|
9,807
|
|
|
32,731
|
|
|
6,265
|
|
|
2014
|
|
2013
|
|
11511 Shadow Creek Parkway
|
Pendleton, OR
|
|
—
|
|
|
—
|
|
|
10,312
|
|
|
380
|
|
|
—
|
|
|
10,692
|
|
|
1,672
|
|
|
2012
|
|
2013
|
|
3001 St. Anthony Way
|
Phoenix, AZ
|
|
—
|
|
|
199
|
|
|
3,853
|
|
|
—
|
|
|
199
|
|
|
3,853
|
|
|
132
|
|
|
2019
|
|
1980
|
|
9225 N 3rd Street
|
Phoenix, AZ
|
|
—
|
|
|
109
|
|
|
2,207
|
|
|
—
|
|
|
109
|
|
|
2,207
|
|
|
138
|
|
|
2019
|
|
1986
|
|
9327 North 3rd Street
|
Phoenix, AZ
|
|
—
|
|
|
229
|
|
|
5,867
|
|
|
—
|
|
|
229
|
|
|
5,867
|
|
|
241
|
|
|
2019
|
|
1994
|
|
9100 N 2nd Street
|
Phoenix, AZ
|
|
—
|
|
|
1,149
|
|
|
48,018
|
|
|
11,409
|
|
|
1,149
|
|
|
59,427
|
|
|
27,378
|
|
|
2006
|
|
1998
|
|
2222 E. Highland Ave.
|
Pineville, NC
|
|
—
|
|
|
961
|
|
|
6,974
|
|
|
2,582
|
|
|
1,081
|
|
|
9,436
|
|
|
5,009
|
|
|
2006
|
|
1988
|
|
10512 Park Rd.
|
Plano, TX
|
|
—
|
|
|
793
|
|
|
83,209
|
|
|
5,359
|
|
|
793
|
|
|
88,568
|
|
|
23,750
|
|
|
2012
|
|
2005
|
|
6020 West Parker Road
|
Plano, TX
|
|
—
|
|
|
5,423
|
|
|
20,698
|
|
|
1,878
|
|
|
5,423
|
|
|
22,576
|
|
|
13,141
|
|
|
2008
|
|
2007
|
|
6957 Plano Parkway
|
Plantation, FL
|
|
—
|
|
|
8,563
|
|
|
10,666
|
|
|
4,772
|
|
|
8,575
|
|
|
15,426
|
|
|
8,343
|
|
|
2006
|
|
1997
|
|
851-865 SW 78th Ave.
|
Plantation, FL
|
|
—
|
|
|
8,848
|
|
|
9,262
|
|
|
2,036
|
|
|
8,908
|
|
|
11,238
|
|
|
7,026
|
|
|
2006
|
|
1996
|
|
600 Pine Island Rd.
|
Port Orchard, WA
|
|
9,973
|
|
|
2,810
|
|
|
22,716
|
|
|
39
|
|
|
2,810
|
|
|
22,755
|
|
|
1,037
|
|
|
2018
|
|
1995
|
|
450 South Kitsap Boulevard
|
Poughkeepsie, NY
|
|
—
|
|
|
4,035
|
|
|
30,459
|
|
|
—
|
|
|
4,035
|
|
|
30,459
|
|
|
—
|
|
|
2019
|
|
2010
|
|
30 Columbia Street
|
Poughkeepsie, NY
|
|
—
|
|
|
6,513
|
|
|
27,863
|
|
|
—
|
|
|
6,513
|
|
|
27,863
|
|
|
—
|
|
|
2019
|
|
2006
|
|
600 Westage Drive
|
Poughkeepsie, NY
|
|
19,065
|
|
|
5,128
|
|
|
20,769
|
|
|
—
|
|
|
5,128
|
|
|
20,769
|
|
|
—
|
|
|
2019
|
|
2012
|
|
1910 South Road
|
Powell, TN
|
|
—
|
|
|
179
|
|
|
27,417
|
|
|
—
|
|
|
179
|
|
|
27,417
|
|
|
907
|
|
|
2019
|
|
2005
|
|
7557 A Dannaher Drive
|
Powell, TN
|
|
—
|
|
|
179
|
|
|
34,903
|
|
|
—
|
|
|
179
|
|
|
34,903
|
|
|
699
|
|
|
2019
|
|
2008
|
|
7557 B Dannaher Drive
|
Prince Frederick, MD
|
|
—
|
|
|
229
|
|
|
26,889
|
|
|
—
|
|
|
229
|
|
|
26,889
|
|
|
792
|
|
|
2019
|
|
2009
|
|
130 Hospital Road
|
Prince Frederick, MD
|
|
—
|
|
|
179
|
|
|
12,801
|
|
|
—
|
|
|
179
|
|
|
12,801
|
|
|
389
|
|
|
2019
|
|
1991
|
|
110 Hospital Road
|
Rancho Mirage, CA
|
|
—
|
|
|
7,292
|
|
|
15,141
|
|
|
—
|
|
|
7,292
|
|
|
15,141
|
|
|
—
|
|
|
2019
|
|
2005
|
|
72780 Country Club Drive
|
Redmond, WA
|
|
—
|
|
|
5,015
|
|
|
26,697
|
|
|
1,080
|
|
|
5,015
|
|
|
27,777
|
|
|
9,474
|
|
|
2010
|
|
2011
|
|
18100 NE Union Hill Rd.
|
Reno, NV
|
|
—
|
|
|
1,117
|
|
|
21,972
|
|
|
2,239
|
|
|
1,117
|
|
|
24,211
|
|
|
10,179
|
|
|
2006
|
|
1991
|
|
343 Elm St.
|
Richmond, TX
|
|
—
|
|
|
2,000
|
|
|
9,118
|
|
|
4
|
|
|
2,000
|
|
|
9,122
|
|
|
856
|
|
|
2015
|
|
2016
|
|
22121 FM 1093 Road
|
Richmond, VA
|
|
—
|
|
|
2,969
|
|
|
26,697
|
|
|
1,450
|
|
|
3,090
|
|
|
28,026
|
|
|
9,730
|
|
|
2012
|
|
2008
|
|
7001 Forest Avenue
|
Rockwall, TX
|
|
—
|
|
|
132
|
|
|
17,197
|
|
|
393
|
|
|
132
|
|
|
17,590
|
|
|
4,751
|
|
|
2012
|
|
2008
|
|
3142 Horizon Road
|
Rogers, AR
|
|
—
|
|
|
1,062
|
|
|
28,680
|
|
|
2,411
|
|
|
1,062
|
|
|
31,091
|
|
|
10,619
|
|
|
2011
|
|
2008
|
|
2708 Rife Medical 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
|
|||||||
Outpatient Medical:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Rolla, MO
|
|
—
|
|
|
1,931
|
|
|
47,639
|
|
|
1
|
|
|
1,931
|
|
|
47,640
|
|
|
14,809
|
|
|
2011
|
|
2009
|
|
1605 Martin Spring Drive
|
Rome, GA
|
|
—
|
|
|
99
|
|
|
29,597
|
|
|
—
|
|
|
99
|
|
|
29,597
|
|
|
1,510
|
|
|
2019
|
|
2005
|
|
330 Turner McCall Boulevard
|
Roseville, MN
|
|
—
|
|
|
2,963
|
|
|
20,169
|
|
|
—
|
|
|
2,963
|
|
|
20,169
|
|
|
—
|
|
|
2019
|
|
2015
|
|
1835 W County Road C
|
Roxboro, NC
|
|
—
|
|
|
368
|
|
|
2,477
|
|
|
—
|
|
|
368
|
|
|
2,477
|
|
|
63
|
|
|
2019
|
|
2000
|
|
799 Doctors Court
|
Salem, NH
|
|
—
|
|
|
1,655
|
|
|
14,050
|
|
|
46
|
|
|
1,681
|
|
|
14,070
|
|
|
3,713
|
|
|
2014
|
|
2013
|
|
31 Stiles Road
|
San Antonio, TX
|
|
—
|
|
|
1,057
|
|
|
10,101
|
|
|
123
|
|
|
1,057
|
|
|
10,224
|
|
|
5,375
|
|
|
2006
|
|
1999
|
|
19016 Stone Oak Pkwy.
|
San Antonio, TX
|
|
—
|
|
|
1,038
|
|
|
9,173
|
|
|
1,848
|
|
|
1,096
|
|
|
10,963
|
|
|
5,795
|
|
|
2006
|
|
1999
|
|
540 Stone Oak Centre Drive
|
San Antonio, TX
|
|
—
|
|
|
2,915
|
|
|
11,141
|
|
|
—
|
|
|
2,915
|
|
|
11,141
|
|
|
462
|
|
|
2019
|
|
2006
|
|
150 E Sonterra Blvd
|
San Antonio, TX
|
|
—
|
|
|
3,050
|
|
|
12,073
|
|
|
31
|
|
|
3,050
|
|
|
12,104
|
|
|
600
|
|
|
2016
|
|
2017
|
|
5206 Research Drive
|
San Antonio, TX
|
|
—
|
|
|
938
|
|
|
16,437
|
|
|
—
|
|
|
938
|
|
|
16,437
|
|
|
4,571
|
|
|
2014
|
|
2007
|
|
3903 Wiseman Boulevard
|
Santa Clarita, CA
|
|
—
|
|
|
—
|
|
|
2,338
|
|
|
20,669
|
|
|
5,304
|
|
|
17,703
|
|
|
3,884
|
|
|
2014
|
|
1976
|
|
23861 McBean Parkway
|
Santa Clarita, CA
|
|
—
|
|
|
—
|
|
|
28,384
|
|
|
2,550
|
|
|
5,277
|
|
|
25,657
|
|
|
5,165
|
|
|
2014
|
|
1998
|
|
23929 McBean Parkway
|
Santa Clarita, CA
|
|
—
|
|
|
278
|
|
|
185
|
|
|
11,594
|
|
|
11,872
|
|
|
185
|
|
|
178
|
|
|
2014
|
|
1996
|
|
23871 McBean Parkway
|
Santa Clarita, CA
|
|
25,000
|
|
|
295
|
|
|
39,284
|
|
|
—
|
|
|
295
|
|
|
39,284
|
|
|
6,311
|
|
|
2014
|
|
2013
|
|
23803 McBean Parkway
|
Santa Clarita, CA
|
|
—
|
|
|
—
|
|
|
20,618
|
|
|
1,076
|
|
|
4,407
|
|
|
17,287
|
|
|
3,670
|
|
|
2014
|
|
1989
|
|
24355 Lyons Avenue
|
Seattle, WA
|
|
—
|
|
|
4,410
|
|
|
38,428
|
|
|
409
|
|
|
4,410
|
|
|
38,837
|
|
|
17,817
|
|
|
2010
|
|
2010
|
|
5350 Tallman Ave
|
Sewell, NJ
|
|
—
|
|
|
1,242
|
|
|
11,616
|
|
|
6
|
|
|
1,242
|
|
|
11,622
|
|
|
641
|
|
|
2018
|
|
2007
|
|
556 Egg Harbor Road
|
Sewell, NJ
|
|
—
|
|
|
164
|
|
|
53,859
|
|
|
—
|
|
|
164
|
|
|
53,859
|
|
|
21,033
|
|
|
2007
|
|
2009
|
|
239 Hurffville-Cross Keys Road
|
Shakopee, MN
|
|
5,393
|
|
|
509
|
|
|
11,350
|
|
|
—
|
|
|
509
|
|
|
11,350
|
|
|
4,472
|
|
|
2010
|
|
1996
|
|
1515 St Francis Ave
|
Shakopee, MN
|
|
9,093
|
|
|
707
|
|
|
18,089
|
|
|
156
|
|
|
773
|
|
|
18,179
|
|
|
5,640
|
|
|
2010
|
|
2007
|
|
1601 St Francis Ave
|
Shenandoah, TX
|
|
—
|
|
|
—
|
|
|
21,135
|
|
|
62
|
|
|
4,574
|
|
|
16,623
|
|
|
2,083
|
|
|
2013
|
|
2014
|
|
106 Vision Park Boulevard
|
Sherman Oaks, CA
|
|
—
|
|
|
—
|
|
|
32,186
|
|
|
3,412
|
|
|
3,121
|
|
|
32,477
|
|
|
7,246
|
|
|
2014
|
|
1969
|
|
4955 Van Nuys Boulevard
|
Silverdale, WA
|
|
13,117
|
|
|
3,451
|
|
|
21,176
|
|
|
12
|
|
|
3,451
|
|
|
21,188
|
|
|
919
|
|
|
2018
|
|
2004
|
|
2200 NW Myhre Road
|
Somerville, NJ
|
|
—
|
|
|
3,400
|
|
|
22,244
|
|
|
2
|
|
|
3,400
|
|
|
22,246
|
|
|
6,349
|
|
|
2008
|
|
2007
|
|
30 Rehill Avenue
|
Southlake, TX
|
|
—
|
|
|
3,000
|
|
|
—
|
|
|
—
|
|
|
3,000
|
|
|
—
|
|
|
—
|
|
|
2014
|
|
1900
|
|
Central Avenue
|
Southlake, TX
|
|
—
|
|
|
2,875
|
|
|
15,471
|
|
|
—
|
|
|
2,875
|
|
|
15,471
|
|
|
350
|
|
|
2019
|
|
2017
|
|
925 E. Southlake Boulevard
|
Southlake, TX
|
|
—
|
|
|
592
|
|
|
18,123
|
|
|
—
|
|
|
592
|
|
|
18,123
|
|
|
5,863
|
|
|
2012
|
|
2004
|
|
1545 East Southlake Boulevard
|
Southlake, TX
|
|
—
|
|
|
698
|
|
|
30,549
|
|
|
48
|
|
|
698
|
|
|
30,597
|
|
|
8,090
|
|
|
2012
|
|
2004
|
|
1545 East Southlake Boulevard
|
Springfield, IL
|
|
—
|
|
|
1,569
|
|
|
10,350
|
|
|
—
|
|
|
1,568
|
|
|
10,351
|
|
|
1,637
|
|
|
2010
|
|
2011
|
|
1100 East Lincolnshire Blvd
|
Springfield, IL
|
|
—
|
|
|
177
|
|
|
3,519
|
|
|
31
|
|
|
177
|
|
|
3,550
|
|
|
580
|
|
|
2010
|
|
2011
|
|
2801 Mathers Rd.
|
Springfield, MA
|
|
—
|
|
|
2,721
|
|
|
6,615
|
|
|
—
|
|
|
2,721
|
|
|
6,615
|
|
|
—
|
|
|
2019
|
|
2012
|
|
305 Bicentennial Highway
|
St Paul, MN
|
|
—
|
|
|
49
|
|
|
37,695
|
|
|
400
|
|
|
49
|
|
|
38,095
|
|
|
6,317
|
|
|
2014
|
|
2006
|
|
225 Smith Avenue N.
|
St. Louis, MO
|
|
—
|
|
|
336
|
|
|
17,247
|
|
|
2,397
|
|
|
336
|
|
|
19,644
|
|
|
8,096
|
|
|
2007
|
|
2001
|
|
2325 Dougherty Rd.
|
St. Paul, MN
|
|
—
|
|
|
2,706
|
|
|
39,507
|
|
|
386
|
|
|
2,701
|
|
|
39,898
|
|
|
13,580
|
|
|
2011
|
|
2007
|
|
435 Phalen Boulevard
|
Stamford, CT
|
|
—
|
|
|
—
|
|
|
41,153
|
|
|
2,636
|
|
|
—
|
|
|
43,789
|
|
|
3,620
|
|
|
2015
|
|
2016
|
|
29 Hospital Plaza
|
Stockton, CA
|
|
11,639
|
|
|
4,966
|
|
|
16,844
|
|
|
—
|
|
|
4,966
|
|
|
16,844
|
|
|
—
|
|
|
2019
|
|
2009
|
|
2488 N California Street
|
Suffern, NY
|
|
—
|
|
|
696
|
|
|
37,211
|
|
|
—
|
|
|
696
|
|
|
37,211
|
|
|
13,568
|
|
|
2011
|
|
2007
|
|
257 Lafayette Avenue
|
Suffolk, VA
|
|
—
|
|
|
1,566
|
|
|
11,511
|
|
|
229
|
|
|
1,620
|
|
|
11,686
|
|
|
5,119
|
|
|
2010
|
|
2007
|
|
5838 Harbour View Blvd.
|
Sugar Land, TX
|
|
—
|
|
|
3,543
|
|
|
15,532
|
|
|
—
|
|
|
3,543
|
|
|
15,532
|
|
|
6,172
|
|
|
2012
|
|
2005
|
|
11555 University Boulevard
|
Tacoma, WA
|
|
—
|
|
|
—
|
|
|
64,307
|
|
|
—
|
|
|
—
|
|
|
64,307
|
|
|
20,433
|
|
|
2011
|
|
2013
|
|
1608 South J Street
|
Tallahassee, FL
|
|
—
|
|
|
—
|
|
|
17,449
|
|
|
—
|
|
|
—
|
|
|
17,449
|
|
|
6,615
|
|
|
2010
|
|
2011
|
|
One Healing Place
|
Tampa, FL
|
|
—
|
|
|
4,319
|
|
|
12,234
|
|
|
—
|
|
|
4,319
|
|
|
12,234
|
|
|
3,181
|
|
|
2011
|
|
2003
|
|
14547 Bruce B Downs Blvd
|
(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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Tampa, FL
|
|
—
|
|
|
1,462
|
|
|
7,270
|
|
|
—
|
|
|
1,462
|
|
|
7,270
|
|
|
614
|
|
|
2017
|
|
1996
|
|
12500 N Dale Mabry
|
|||||||
Temple, TX
|
|
—
|
|
|
2,900
|
|
|
9,954
|
|
|
26
|
|
|
2,900
|
|
|
9,980
|
|
|
1,880
|
|
|
2011
|
|
2012
|
|
2601 Thornton Lane
|
|||||||
Timonium, MD
|
|
—
|
|
|
8,829
|
|
|
12,568
|
|
|
161
|
|
|
8,850
|
|
|
12,708
|
|
|
1,323
|
|
|
2015
|
|
2017
|
|
2118 Greenspring Drive
|
|||||||
Tucson, AZ
|
|
—
|
|
|
1,302
|
|
|
4,925
|
|
|
1,113
|
|
|
1,325
|
|
|
6,015
|
|
|
3,095
|
|
|
2008
|
|
1995
|
|
2055 W. Hospital Dr.
|
|||||||
Tustin, CA
|
|
—
|
|
|
3,345
|
|
|
541
|
|
|
223
|
|
|
3,345
|
|
|
764
|
|
|
310
|
|
|
2015
|
|
1976
|
|
14591 Newport Ave
|
|||||||
Tustin, CA
|
|
—
|
|
|
3,361
|
|
|
12,039
|
|
|
1,913
|
|
|
3,361
|
|
|
13,952
|
|
|
3,436
|
|
|
2015
|
|
1985
|
|
14642 Newport Ave
|
|||||||
Tyler, TX
|
|
61,899
|
|
|
2,903
|
|
|
114,853
|
|
|
—
|
|
|
2,903
|
|
|
114,853
|
|
|
—
|
|
|
2019
|
|
2013
|
|
1814 Roseland Boulevard
|
|||||||
Van Nuys, CA
|
|
—
|
|
|
—
|
|
|
36,187
|
|
|
—
|
|
|
—
|
|
|
36,187
|
|
|
10,936
|
|
|
2009
|
|
1991
|
|
6815 Noble Ave.
|
|||||||
Voorhees, NJ
|
|
—
|
|
|
6
|
|
|
96,075
|
|
|
757
|
|
|
99
|
|
|
96,739
|
|
|
29,171
|
|
|
2010
|
|
2012
|
|
200 Bowman Drive
|
|||||||
Voorhees, NJ
|
|
—
|
|
|
6,404
|
|
|
24,251
|
|
|
1,817
|
|
|
6,477
|
|
|
25,995
|
|
|
10,633
|
|
|
2006
|
|
1997
|
|
900 Centennial Blvd.
|
|||||||
Waco, TX
|
|
—
|
|
|
125
|
|
|
164
|
|
|
—
|
|
|
125
|
|
|
164
|
|
|
4
|
|
|
2018
|
|
1962
|
|
6612 Fish Pond Road
|
|||||||
Waco, TX
|
|
—
|
|
|
35
|
|
|
113
|
|
|
—
|
|
|
35
|
|
|
113
|
|
|
3
|
|
|
2018
|
|
1961
|
|
6620 Fish Pond Rd
|
|||||||
Waco, TX
|
|
—
|
|
|
441
|
|
|
2,537
|
|
|
—
|
|
|
441
|
|
|
2,537
|
|
|
195
|
|
|
2018
|
|
2000
|
|
6600 Fish Pond Rd
|
|||||||
Waco, TX
|
|
14,496
|
|
|
2,250
|
|
|
28,632
|
|
|
106
|
|
|
2,250
|
|
|
28,738
|
|
|
1,240
|
|
|
2018
|
|
1981
|
|
601 Highway 6 West
|
|||||||
Washington, PA
|
|
19,273
|
|
|
3,981
|
|
|
31,706
|
|
|
17
|
|
|
3,981
|
|
|
31,723
|
|
|
1,389
|
|
|
2018
|
|
2010
|
|
100 Trich Drive
|
|||||||
Wausau, WI
|
|
—
|
|
|
2,050
|
|
|
12,175
|
|
|
—
|
|
|
2,050
|
|
|
12,175
|
|
|
1,223
|
|
|
2015
|
|
2017
|
|
1901 Westwood Center Boulevard
|
|||||||
Waxahachie, TX
|
|
—
|
|
|
303
|
|
|
18,069
|
|
|
—
|
|
|
303
|
|
|
18,069
|
|
|
2,578
|
|
|
2016
|
|
2014
|
|
2460 N I-35 East
|
|||||||
Wellington, FL
|
|
—
|
|
|
580
|
|
|
11,047
|
|
|
—
|
|
|
580
|
|
|
11,047
|
|
|
5,030
|
|
|
2007
|
|
2003
|
|
1395 State Rd. 7
|
|||||||
Wellington, FL
|
|
—
|
|
|
107
|
|
|
16,933
|
|
|
2,229
|
|
|
326
|
|
|
18,943
|
|
|
7,693
|
|
|
2006
|
|
2000
|
|
10115 Forest Hill Blvd.
|
|||||||
Westlake Village, CA
|
|
6,360
|
|
|
2,487
|
|
|
9,776
|
|
|
6
|
|
|
2,487
|
|
|
9,782
|
|
|
684
|
|
|
2018
|
|
1989
|
|
1220 La Venta Drive
|
|||||||
Westlake Village, CA
|
|
7,999
|
|
|
2,553
|
|
|
15,851
|
|
|
95
|
|
|
2,553
|
|
|
15,946
|
|
|
1,044
|
|
|
2018
|
|
1975
|
|
1250 La Venta Drive
|
|||||||
Westville, IN
|
|
—
|
|
|
1,293
|
|
|
13,227
|
|
|
—
|
|
|
1,293
|
|
|
13,227
|
|
|
279
|
|
|
2019
|
|
2010
|
|
1668 South US 421
|
|||||||
Winston-Salem, NC
|
|
—
|
|
|
2,006
|
|
|
7,497
|
|
|
—
|
|
|
2,006
|
|
|
7,497
|
|
|
526
|
|
|
2019
|
|
1998
|
|
2025 Frontis Plaza
|
|||||||
Woodbridge, VA
|
|
—
|
|
|
346
|
|
|
16,534
|
|
|
—
|
|
|
346
|
|
|
16,534
|
|
|
617
|
|
|
2018
|
|
2012
|
|
12825 Minnieville Road
|
|||||||
Yuma, AZ
|
|
—
|
|
|
1,592
|
|
|
10,185
|
|
|
—
|
|
|
1,592
|
|
|
10,185
|
|
|
496
|
|
|
2019
|
|
2004
|
|
2270 South Ridgeview Drive
|
|||||||
Zephyrhills, FL
|
|
—
|
|
|
3,875
|
|
|
27,270
|
|
|
—
|
|
|
3,875
|
|
|
27,270
|
|
|
7,779
|
|
|
2011
|
|
1974
|
|
38135 Market Square Dr
|
|||||||
Zephyrhills, FL
|
|
—
|
|
|
5,444
|
|
|
29,088
|
|
|
—
|
|
|
5,444
|
|
|
29,088
|
|
|
1,725
|
|
|
2018
|
|
2016
|
|
2352 Bruce B Downs Boulevard
|
|||||||
Outpatient Medical Total
|
|
$
|
572,266
|
|
|
$
|
885,789
|
|
|
$
|
6,626,075
|
|
|
$
|
323,055
|
|
|
$
|
959,834
|
|
|
$
|
6,875,085
|
|
|
$
|
1,248,499
|
|
|
|
|
|
|
|
Welltower Inc.
|
|
|
||||||||||||||||||||||||||||||||
Schedule III
|
|
|
||||||||||||||||||||||||||||||||
Real Estate and Accumulated Depreciation
|
|
|
||||||||||||||||||||||||||||||||
December 31, 2019
|
|
|
||||||||||||||||||||||||||||||||
(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:
|
|
|
||||||||||||||||||||||||||||||||
Adelphi, MD
|
|
$
|
—
|
|
|
$
|
1,429
|
|
|
$
|
4,312
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
5,554
|
|
|
$
|
—
|
|
|
2018
|
|
1967
|
|
1801 Metzerott Road
|
Akron, OH
|
|
—
|
|
|
821
|
|
|
12,105
|
|
|
—
|
|
|
—
|
|
|
9,544
|
|
|
—
|
|
|
2012
|
|
2010
|
|
701 White Pond Drive
|
|||||||
Ayer, MA
|
|
—
|
|
|
—
|
|
|
22,074
|
|
|
—
|
|
|
—
|
|
|
8,735
|
|
|
—
|
|
|
2011
|
|
1988
|
|
400 Groton Road
|
|||||||
Birmingham, AL
|
|
—
|
|
|
52
|
|
|
10,201
|
|
|
—
|
|
|
—
|
|
|
5,508
|
|
|
—
|
|
|
2006
|
|
1971
|
|
801 Princeton Avenue SW
|
|||||||
Birmingham, AL
|
|
—
|
|
|
124
|
|
|
11,733
|
|
|
—
|
|
|
—
|
|
|
7,995
|
|
|
—
|
|
|
2006
|
|
1985
|
|
817 Princeton Avenue SW
|
|||||||
Birmingham, AL
|
|
—
|
|
|
476
|
|
|
18,726
|
|
|
—
|
|
|
—
|
|
|
12,234
|
|
|
—
|
|
|
2006
|
|
1989
|
|
833 Princeton Avenue SW
|
|||||||
Boardman, OH
|
|
—
|
|
|
80
|
|
|
12,161
|
|
|
—
|
|
|
—
|
|
|
7,403
|
|
|
—
|
|
|
2010
|
|
2007
|
|
8423 Market St
|
|||||||
Brookline, MA
|
|
—
|
|
|
—
|
|
|
17,435
|
|
|
—
|
|
|
—
|
|
|
17,435
|
|
|
—
|
|
|
2019
|
|
1900
|
|
110 Fisher Avenue
|
|||||||
Burlington, MA
|
|
—
|
|
|
2,750
|
|
|
57,488
|
|
|
—
|
|
|
—
|
|
|
56,762
|
|
|
—
|
|
|
2016
|
|
2011
|
|
50 Greenleaf Way
|
|||||||
Carmel, IN
|
|
—
|
|
|
2,280
|
|
|
19,238
|
|
|
—
|
|
|
—
|
|
|
14,226
|
|
|
—
|
|
|
2011
|
|
2005
|
|
12188-A North Meridian Street
|
|||||||
Carmel, IN
|
|
—
|
|
|
2,026
|
|
|
21,559
|
|
|
—
|
|
|
—
|
|
|
14,292
|
|
|
—
|
|
|
2011
|
|
2007
|
|
12188-B North Meridian Street
|
|||||||
Claremore, OK
|
|
—
|
|
|
132
|
|
|
11,173
|
|
|
—
|
|
|
—
|
|
|
7,529
|
|
|
—
|
|
|
2007
|
|
2005
|
|
1501 N. Florence Ave.
|
|||||||
Concord, NH
|
|
—
|
|
|
720
|
|
|
3,041
|
|
|
—
|
|
|
—
|
|
|
3,344
|
|
|
—
|
|
|
2011
|
|
1926
|
|
227 Pleasant Street
|
|||||||
Dallas, TX
|
|
—
|
|
|
137
|
|
|
28,690
|
|
|
—
|
|
|
—
|
|
|
18,703
|
|
|
—
|
|
|
2006
|
|
1995
|
|
9330 Poppy Dr.
|
|||||||
Dayton, OH
|
|
—
|
|
|
730
|
|
|
6,919
|
|
|
—
|
|
|
—
|
|
|
4,586
|
|
|
—
|
|
|
2011
|
|
1988
|
|
1530 Needmore Road
|
|||||||
Fort Wayne, IN
|
|
—
|
|
|
1,105
|
|
|
22,836
|
|
|
—
|
|
|
—
|
|
|
17,809
|
|
|
—
|
|
|
2012
|
|
2004
|
|
7916 Jefferson Boulevard
|
|||||||
Fullerton, CA
|
|
—
|
|
|
5,477
|
|
|
53,890
|
|
|
—
|
|
|
—
|
|
|
54,244
|
|
|
—
|
|
|
2014
|
|
2007
|
|
1950 Sunny Crest Drive
|
|||||||
Gilroy, CA
|
|
—
|
|
|
760
|
|
|
13,880
|
|
|
13,331
|
|
|
—
|
|
|
27,971
|
|
|
—
|
|
|
2006
|
|
2007
|
|
7610 Isabella Way
|
|||||||
Great Falls, MT
|
|
—
|
|
|
630
|
|
|
6,007
|
|
|
—
|
|
|
—
|
|
|
6,131
|
|
|
—
|
|
|
2018
|
|
2001
|
|
1801 9th Street South
|
|||||||
Greenwood, IN
|
|
—
|
|
|
8,316
|
|
|
26,384
|
|
|
—
|
|
|
—
|
|
|
26,763
|
|
|
—
|
|
|
2012
|
|
2010
|
|
1260 Innovation Parkway
|
|||||||
Guelph, ON
|
|
—
|
|
|
1,190
|
|
|
7,597
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2015
|
|
1978
|
|
165 Cole Road
|
|||||||
Henderson, NV
|
|
—
|
|
|
880
|
|
|
29,809
|
|
|
—
|
|
|
—
|
|
|
24,506
|
|
|
—
|
|
|
2011
|
|
2009
|
|
1935 Paseo Verde Parkway
|
|||||||
High Point, NC
|
|
—
|
|
|
2,659
|
|
|
29,069
|
|
|
—
|
|
|
—
|
|
|
24,246
|
|
|
—
|
|
|
2012
|
|
2010
|
|
4515 Premier Drive
|
|||||||
Houston, TX
|
|
—
|
|
|
3,102
|
|
|
32,323
|
|
|
—
|
|
|
—
|
|
|
31,476
|
|
|
—
|
|
|
2014
|
|
2014
|
|
1900 N Loop W Freeway
|
|||||||
Houston, TX
|
|
—
|
|
|
5,090
|
|
|
9,471
|
|
|
—
|
|
|
—
|
|
|
7,840
|
|
|
—
|
|
|
2007
|
|
2009
|
|
15015 Cypress Woods Medical Drive
|
|||||||
Hudson, OH
|
|
—
|
|
|
2,587
|
|
|
13,720
|
|
|
—
|
|
|
—
|
|
|
11,865
|
|
|
—
|
|
|
2012
|
|
2006
|
|
5655 Hudson Drive
|
|||||||
Hyattsville, MD
|
|
—
|
|
|
4,017
|
|
|
2,298
|
|
|
—
|
|
|
—
|
|
|
6,206
|
|
|
—
|
|
|
2018
|
|
1964
|
|
6500 Riggs Road
|
|||||||
Kirkland, WA
|
|
24,600
|
|
|
3,450
|
|
|
38,709
|
|
|
—
|
|
|
—
|
|
|
33,598
|
|
|
—
|
|
|
2011
|
|
2009
|
|
14 Main Street South
|
|||||||
Kitchener, ON
|
|
—
|
|
|
1,130
|
|
|
9,939
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2013
|
|
1988
|
|
20 Fieldgate Street
|
|||||||
Kyle, TX
|
|
—
|
|
|
2,569
|
|
|
14,384
|
|
|
—
|
|
|
—
|
|
|
13,928
|
|
|
—
|
|
|
2014
|
|
2011
|
|
135 Bunton Creek Road
|
|||||||
Largo, MD
|
|
—
|
|
|
3,361
|
|
|
3,623
|
|
|
—
|
|
|
—
|
|
|
6,819
|
|
|
—
|
|
|
2018
|
|
1978
|
|
600 Largo Road
|
|||||||
Las Vegas, NV
|
|
—
|
|
|
74
|
|
|
15,287
|
|
|
—
|
|
|
—
|
|
|
9,765
|
|
|
—
|
|
|
2006
|
|
2000
|
|
1815 E. Lake Mead Blvd.
|
|||||||
Las Vegas, NV
|
|
—
|
|
|
—
|
|
|
2,945
|
|
|
—
|
|
|
—
|
|
|
2,945
|
|
|
—
|
|
|
2007
|
|
1900
|
|
SW corner of Deer Springs Way and Riley Street
|
|||||||
Lenexa, KS
|
|
—
|
|
|
540
|
|
|
17,926
|
|
|
—
|
|
|
—
|
|
|
12,460
|
|
|
—
|
|
|
2010
|
|
2008
|
|
23401 Prairie Star Pkwy
|
|||||||
Lenexa, KS
|
|
—
|
|
|
100
|
|
|
13,766
|
|
|
—
|
|
|
—
|
|
|
11,718
|
|
|
—
|
|
|
2013
|
|
2013
|
|
23351 Prairie Star Parkway
|
|||||||
Mechanicsburg, PA
|
|
—
|
|
|
1,350
|
|
|
16,650
|
|
|
—
|
|
|
—
|
|
|
1,964
|
|
|
—
|
|
|
2011
|
|
1971
|
|
4950 Wilson Lane
|
|||||||
Melbourne, FL
|
|
—
|
|
|
3,439
|
|
|
50,461
|
|
|
—
|
|
|
—
|
|
|
43,431
|
|
|
—
|
|
|
2014
|
|
2009
|
|
2222 South Harbor City Boulevard
|
(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:
|
|
|
||||||||||||||||||||||||||||||||
Merriam, KS
|
|
—
|
|
|
176
|
|
|
8,005
|
|
|
—
|
|
|
—
|
|
|
5,235
|
|
|
—
|
|
|
2011
|
|
1972
|
|
8800 West 75th Street
|
|||||||
Merriam, KS
|
|
—
|
|
|
—
|
|
|
10,222
|
|
|
—
|
|
|
—
|
|
|
8,218
|
|
|
—
|
|
|
2011
|
|
1977
|
|
8901 West 74th Street
|
|||||||
Merriam, KS
|
|
—
|
|
|
1,257
|
|
|
24,911
|
|
|
—
|
|
|
—
|
|
|
18,927
|
|
|
—
|
|
|
2013
|
|
2009
|
|
9301 West 74th Street
|
|||||||
Merrillville, IN
|
|
—
|
|
|
—
|
|
|
22,134
|
|
|
—
|
|
|
—
|
|
|
15,000
|
|
|
—
|
|
|
2008
|
|
2006
|
|
101 E. 87th Ave.
|
|||||||
Mesa, AZ
|
|
—
|
|
|
1,558
|
|
|
9,561
|
|
|
—
|
|
|
—
|
|
|
7,244
|
|
|
—
|
|
|
2008
|
|
1989
|
|
6424 East Broadway Road
|
|||||||
Morrow, GA
|
|
—
|
|
|
818
|
|
|
8,064
|
|
|
—
|
|
|
—
|
|
|
4,673
|
|
|
—
|
|
|
2007
|
|
1990
|
|
6635 Lake Drive
|
|||||||
Nassau Bay, TX
|
|
—
|
|
|
378
|
|
|
29,947
|
|
|
—
|
|
|
—
|
|
|
14,655
|
|
|
—
|
|
|
2012
|
|
1981
|
|
18100 St John Drive
|
|||||||
Nassau Bay, TX
|
|
—
|
|
|
91
|
|
|
10,613
|
|
|
—
|
|
|
—
|
|
|
5,303
|
|
|
—
|
|
|
2012
|
|
1986
|
|
2060 Space Park Drive
|
|||||||
Needham, MA
|
|
—
|
|
|
1,240
|
|
|
32,992
|
|
|
—
|
|
|
—
|
|
|
32,308
|
|
|
—
|
|
|
2016
|
|
2011
|
|
880 Greendale Avenue
|
|||||||
Newburyport, MA
|
|
—
|
|
|
1,750
|
|
|
29,187
|
|
|
—
|
|
|
—
|
|
|
29,118
|
|
|
—
|
|
|
2016
|
|
2015
|
|
4 Wallace Bashaw Junior Way
|
|||||||
Niagara Falls, ON
|
|
—
|
|
|
1,225
|
|
|
7,963
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2015
|
|
1991
|
|
7860 Lundy's Lane
|
|||||||
North Cape May, NJ
|
|
—
|
|
|
77
|
|
|
151
|
|
|
4,203
|
|
|
—
|
|
|
4,431
|
|
|
—
|
|
|
2015
|
|
1988
|
|
610 Town Bank Road
|
|||||||
North Dartmouth, MA
|
|
—
|
|
|
1,700
|
|
|
35,337
|
|
|
—
|
|
|
—
|
|
|
35,298
|
|
|
—
|
|
|
2016
|
|
1997
|
|
239 Cross Road
|
|||||||
Oceanside, CA
|
|
—
|
|
|
2,160
|
|
|
18,352
|
|
|
—
|
|
|
—
|
|
|
18,111
|
|
|
—
|
|
|
2011
|
|
2005
|
|
3500 Lake Boulevard
|
|||||||
Ogden, UT
|
|
—
|
|
|
384
|
|
|
2,228
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2018
|
|
1987
|
|
400 East 5350 South
|
|||||||
Palm Springs, FL
|
|
—
|
|
|
739
|
|
|
4,066
|
|
|
—
|
|
|
—
|
|
|
2,061
|
|
|
—
|
|
|
2006
|
|
1993
|
|
1640 S. Congress Ave.
|
|||||||
Palm Springs, FL
|
|
—
|
|
|
1,182
|
|
|
7,765
|
|
|
—
|
|
|
—
|
|
|
3,790
|
|
|
—
|
|
|
2006
|
|
1997
|
|
1630 S. Congress Ave.
|
|||||||
Plymouth, MA
|
|
12,860
|
|
|
2,550
|
|
|
35,055
|
|
|
—
|
|
|
—
|
|
|
35,551
|
|
|
—
|
|
|
2016
|
|
1970
|
|
60 Stafford Hill
|
|||||||
Portland, ME
|
|
—
|
|
|
655
|
|
|
25,529
|
|
|
—
|
|
|
—
|
|
|
17,783
|
|
|
—
|
|
|
2011
|
|
2008
|
|
195 Fore River Parkway
|
|||||||
Renton, WA
|
|
20,790
|
|
|
3,080
|
|
|
51,824
|
|
|
12,281
|
|
|
—
|
|
|
67,185
|
|
|
—
|
|
|
2011
|
|
2007
|
|
104 Burnett Avenue South
|
|||||||
Rexburg, ID
|
|
—
|
|
|
1,267
|
|
|
3,213
|
|
|
—
|
|
|
—
|
|
|
67
|
|
|
—
|
|
|
2018
|
|
1988
|
|
660 South 2nd West
|
|||||||
Roswell, NM
|
|
—
|
|
|
183
|
|
|
5,850
|
|
|
—
|
|
|
—
|
|
|
3,909
|
|
|
—
|
|
|
2011
|
|
2004
|
|
601 West Country Club Road
|
|||||||
Roswell, NM
|
|
—
|
|
|
883
|
|
|
15,984
|
|
|
—
|
|
|
—
|
|
|
11,896
|
|
|
—
|
|
|
2011
|
|
2006
|
|
350 West Country Club Road
|
|||||||
Roswell, NM
|
|
—
|
|
|
762
|
|
|
17,171
|
|
|
—
|
|
|
—
|
|
|
13,361
|
|
|
—
|
|
|
2011
|
|
2009
|
|
300 West Country Club Road
|
|||||||
Sacramento, CA
|
|
—
|
|
|
866
|
|
|
12,756
|
|
|
—
|
|
|
—
|
|
|
7,714
|
|
|
—
|
|
|
2006
|
|
1990
|
|
8120 Timberlake Way
|
|||||||
San Antonio, TX
|
|
—
|
|
|
4,518
|
|
|
31,041
|
|
|
—
|
|
|
—
|
|
|
28,015
|
|
|
—
|
|
|
2012
|
|
1986
|
|
5282 Medical Drive
|
|||||||
San Diego, CA
|
|
—
|
|
|
—
|
|
|
22,003
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2008
|
|
1992
|
|
555 Washington St.
|
|||||||
San Diego, CA
|
|
—
|
|
|
4,200
|
|
|
30,707
|
|
|
—
|
|
|
—
|
|
|
29,218
|
|
|
—
|
|
|
2011
|
|
2011
|
|
2567 Second Avenue
|
|||||||
San Jose, CA
|
|
—
|
|
|
2,850
|
|
|
35,098
|
|
|
—
|
|
|
—
|
|
|
30,088
|
|
|
—
|
|
|
2011
|
|
2009
|
|
1420 Curvi Drive
|
|||||||
Santa Maria, CA
|
|
—
|
|
|
6,050
|
|
|
50,658
|
|
|
—
|
|
|
—
|
|
|
44,355
|
|
|
—
|
|
|
2011
|
|
2001
|
|
1220 Suey Road
|
|||||||
Sarasota, FL
|
|
—
|
|
|
62
|
|
|
47,325
|
|
|
—
|
|
|
—
|
|
|
36,149
|
|
|
—
|
|
|
2012
|
|
1990
|
|
1921 Waldemere Street
|
|||||||
Seattle, WA
|
|
48,540
|
|
|
6,790
|
|
|
85,369
|
|
|
—
|
|
|
—
|
|
|
73,052
|
|
|
—
|
|
|
2011
|
|
2009
|
|
5300 24th Avenue NE
|
|||||||
Tacoma, WA
|
|
17,640
|
|
|
2,400
|
|
|
35,053
|
|
|
—
|
|
|
—
|
|
|
30,014
|
|
|
—
|
|
|
2011
|
|
2008
|
|
7290 Rosemount Circle
|
|||||||
Tacoma, WA
|
|
—
|
|
|
1,535
|
|
|
6,068
|
|
|
—
|
|
|
—
|
|
|
6,479
|
|
|
—
|
|
|
2015
|
|
2012
|
|
7290 Rosemount Circle
|
|||||||
Tewksbury, MA
|
|
—
|
|
|
2,350
|
|
|
24,118
|
|
|
—
|
|
|
—
|
|
|
25,200
|
|
|
—
|
|
|
2016
|
|
2006
|
|
2000 Emerald Court
|
|||||||
Toronto, ON
|
|
—
|
|
|
1,361
|
|
|
2,915
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2013
|
|
1985
|
|
3705 Bathurst Street
|
|||||||
West Seneca, NY
|
|
—
|
|
|
917
|
|
|
22,435
|
|
|
—
|
|
|
—
|
|
|
16,218
|
|
|
—
|
|
|
2007
|
|
1990
|
|
550 Orchard Park Rd
|
|||||||
Wilkes-Barre, PA
|
|
—
|
|
|
570
|
|
|
2,301
|
|
|
—
|
|
|
—
|
|
|
2,847
|
|
|
—
|
|
|
2011
|
|
1992
|
|
300 Courtright Street
|
|||||||
Assets Held For Sale Total
|
|
$
|
124,430
|
|
|
$
|
122,167
|
|
|
$
|
1,511,800
|
|
|
$
|
29,815
|
|
|
$
|
—
|
|
|
$
|
1,253,008
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
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
|
|
$
|
1,990,607
|
|
|
$
|
1,383,927
|
|
|
$
|
13,886,675
|
|
|
$
|
1,879,176
|
|
|
$
|
1,469,078
|
|
|
$
|
15,680,700
|
|
|
$
|
3,194,057
|
|
Triple-net
|
|
306,038
|
|
|
1,036,151
|
|
|
7,894,992
|
|
|
351,136
|
|
|
1,057,708
|
|
|
8,224,571
|
|
|
1,272,903
|
|
|||||||
Outpatient Medical
|
|
572,266
|
|
|
885,789
|
|
|
6,626,075
|
|
|
323,055
|
|
|
959,834
|
|
|
6,875,085
|
|
|
1,248,499
|
|
|||||||
Construction in progress
|
|
—
|
|
|
—
|
|
|
507,931
|
|
|
—
|
|
|
—
|
|
|
507,931
|
|
|
—
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Total continuing operating properties
|
|
2,868,911
|
|
|
3,305,867
|
|
|
28,915,673
|
|
|
2,553,367
|
|
|
3,486,620
|
|
|
31,288,287
|
|
|
5,715,459
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Assets held for sale
|
|
124,430
|
|
|
122,167
|
|
|
1,511,800
|
|
|
29,815
|
|
|
—
|
|
|
1,253,008
|
|
|
—
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Total investments in real property owned
|
|
$
|
2,993,341
|
|
|
$
|
3,428,034
|
|
|
$
|
30,427,473
|
|
|
$
|
2,583,182
|
|
|
$
|
3,486,620
|
|
|
$
|
32,541,295
|
|
|
$
|
5,715,459
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
|
|
|
|
(in thousands)
|
|
|
||||||
Investment in real estate:
|
|
|
|
|
|
|
||||||
Beginning balance
|
|
$
|
33,590,388
|
|
|
$
|
30,581,948
|
|
|
$
|
30,041,058
|
|
Acquisitions and development
|
|
4,807,418
|
|
|
4,598,670
|
|
|
1,276,636
|
|
|||
Improvements
|
|
328,824
|
|
|
266,183
|
|
|
250,276
|
|
|||
Deconsolidation of previously consolidated venture
|
|
—
|
|
|
—
|
|
|
(144,897
|
)
|
|||
Impairment of assets
|
|
(28,074
|
)
|
|
(71,336
|
)
|
|
(101,527
|
)
|
|||
Dispositions
|
|
(2,673,203
|
)
|
|
(1,330,679
|
)
|
|
(1,203,247
|
)
|
|||
Foreign currency translation
|
|
187,853
|
|
|
(454,398
|
)
|
|
415,879
|
|
|||
Other(1)
|
|
(185,291
|
)
|
|
—
|
|
|
47,770
|
|
|||
Ending balance(2)
|
|
$
|
36,027,915
|
|
|
$
|
33,590,388
|
|
|
$
|
30,581,948
|
|
|
|
|
|
|
|
|
||||||
Accumulated depreciation:
|
|
|
|
|
|
|
||||||
Beginning balance
|
|
$
|
5,499,958
|
|
|
$
|
4,838,370
|
|
|
$
|
4,093,494
|
|
Depreciation and amortization expenses
|
|
1,027,073
|
|
|
950,459
|
|
|
921,720
|
|
|||
Amortization of above market leases
|
|
5,752
|
|
|
6,375
|
|
|
7,303
|
|
|||
Disposition and other
|
|
(772,273
|
)
|
|
(205,562
|
)
|
|
(192,029
|
)
|
|||
Foreign currency translation
|
|
(45,051
|
)
|
|
(89,684
|
)
|
|
7,882
|
|
|||
Ending balance
|
|
$
|
5,715,459
|
|
|
$
|
5,499,958
|
|
|
$
|
4,838,370
|
|
|
|
|
|
|
|
|
Welltower Inc.
|
||||||||||||||||||||||||||
Schedule IV - Mortgage Loans on Real Estate
|
||||||||||||||||||||||||||
December 31, 2019
|
||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
(in thousands)
|
||||||||||||||||||
Location
|
|
Segment
|
|
Interest Rate
|
|
Final Maturity Date
|
|
Monthly Payment Terms
|
|
Prior Liens
|
|
Face Amount of Mortgages
|
|
Carrying Amount of Mortgages
|
|
Principal Amount of Loans Subject to Delinquent Principal or Interest
|
||||||||||
First mortgages relating to 1 property located in:
|
|
|
|
|
|
|
|
|
||||||||||||||||||
California
|
|
Triple-net
|
|
7.95%
|
|
1/1/2022
|
|
$
|
696
|
|
|
$
|
—
|
|
|
$
|
131,100
|
|
|
$
|
53,071
|
|
|
$
|
—
|
|
United Kingdom
|
|
Triple-net
|
|
7.25%
|
|
3/15/2022
|
|
139
|
|
|
—
|
|
|
27,828
|
|
|
23,788
|
|
|
—
|
|
|||||
United Kingdom
|
|
Triple-net
|
|
8.53%
|
|
7/7/2021
|
|
140
|
|
|
—
|
|
|
19,904
|
|
|
19,904
|
|
|
—
|
|
|||||
Pennsylvania
|
|
Triple-net
|
|
8.72%
|
|
3/1/2022
|
|
108
|
|
|
—
|
|
|
15,530
|
|
|
15,108
|
|
|
—
|
|
|||||
North Carolina
|
|
Triple-net
|
|
7.83%
|
|
12/18/2023
|
|
92
|
|
|
—
|
|
|
30,883
|
|
|
16,259
|
|
|
—
|
|
|||||
Texas
|
|
Outpatient Medical
|
|
7.86%
|
|
1/19/2025
|
|
24
|
|
|
—
|
|
|
3,740
|
|
|
3,733
|
|
|
—
|
|
|||||
United Kingdom
|
|
Triple-net
|
|
8.50%
|
|
2/1/2024
|
|
92
|
|
|
—
|
|
|
19,876
|
|
|
13,823
|
|
|
—
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Totals
|
|
|
|
|
|
|
|
|
|
$
|
—
|
|
|
$
|
248,861
|
|
|
$
|
145,686
|
|
|
$
|
—
|
|
|
|
Year Ended December 31,
|
||||||||||
|
|
2019
|
|
2018
|
|
2017
|
||||||
Reconciliation of mortgage loans:
|
|
(in thousands)
|
||||||||||
Balance at beginning of year
|
|
$
|
249,071
|
|
|
$
|
306,120
|
|
|
$
|
485,735
|
|
Additions:
|
|
|
|
|
|
|
||||||
New mortgage loans
|
|
—
|
|
|
25,290
|
|
|
6,706
|
|
|||
Draws on existing loans
|
|
45,961
|
|
|
36,458
|
|
|
58,224
|
|
|||
Total additions
|
|
45,961
|
|
|
61,748
|
|
|
64,930
|
|
|||
|
|
|
|
|
|
|
||||||
Deductions:
|
|
|
|
|
|
|
||||||
Collections of principal
|
|
(87,249
|
)
|
|
(116,905
|
)
|
|
(180,135
|
)
|
|||
Loan balance transferred to non real estate loans receivable
|
|
(64,040
|
)
|
|
—
|
|
|
—
|
|
|||
Change in allowance for loan losses and charge-offs
|
|
—
|
|
|
—
|
|
|
(71,535
|
)
|
|||
Total deductions
|
|
(151,289
|
)
|
|
(116,905
|
)
|
|
(251,670
|
)
|
|||
Change in balance due to foreign currency translation
|
|
1,944
|
|
|
(1,892
|
)
|
|
7,125
|
|
|||
Balance at end of year
|
|
$
|
145,686
|
|
|
$
|
249,071
|
|
|
$
|
306,120
|
|
|
|
WELLTOWER INC.
|
|
Per:
|
|
||
|
Name:
|
||
|
Title:
|
TEN COM -- as tenants in common
TEN ENT -- as tenants by the entireties
JT TEN -- as joint tenants with right of survivorship and not as tenants in common
|
UNIF GIFT MIN ACT -- __________ Custodian _______
(Cust) (Minor)
Under Uniform Gifts to Minors Act
___________
(State)
|
•
|
A provision permitting the Company’s Board of Directors to make, amend or repeal the By-Laws.
|
•
|
Authorization for the Company’s Board of Directors to issue Preferred Stock in series and to fix the rights and preferences of the series, including, among other things, whether and to what extent the shares of any series will have voting rights and the extent of the preferences of the shares of any series with respect to dividends and other matters.
|
•
|
A prohibition on stockholders taking action by written consent in lieu of a meeting.
|
•
|
Advance notice procedures with respect to nominations of directors by stockholders and proposals by stockholders of business at an annual meeting.
|
•
|
The grant only to our board of directors of the right to call special meetings of stockholders.
|
•
|
Limitations on the number of shares of the Company’s capital stock that may be beneficially owned, directly or indirectly, by any one stockholder.
|
•
|
Limitations on transactions that involve the Company and any stockholder who beneficially owns 5% or more of the Company’s voting stock.
|
•
|
A provision permitting amendment by the stockholders of certain of the provisions listed above only by an affirmative vote of the holders of at least 75% of all of the outstanding shares of the Company’s voting stock, voting together as a single class.
|
•
|
Any merger or consolidation of the Company with or into:
|
•
|
any stockholder that owns 5% or more of the Company’s voting stock; or
|
•
|
any other corporation or entity which is, or after such merger or consolidation would be, an affiliate of a stockholder that owns 5% or more of the Company’s voting stock.
|
•
|
Any sale, lease, exchange, mortgage, pledge, transfer or other disposition of substantially all of the Company’s assets, in one transaction or a series of transactions, to or with any stockholder that owns 5% or more of the Company’s voting stock or an affiliate of any such stockholder.
|
•
|
Any reclassification of our securities, including any reverse stock split, or recapitalization or any other transaction that has the effect, directly or indirectly, of increasing the proportionate share of the outstanding shares of any class of the Company’s equity securities that is directly or indirectly owned by any stockholder that owns 5% or more of the Company’s voting stock or any affiliate of such a stockholder, whether or not the transaction involves such a stockholder.
|
•
|
The adoption of any plan or proposal for the Company’s liquidation or dissolution proposed by or on behalf of a stockholder that owns 5% or more of the Company’s voting stock or any affiliate of such a stockholder.
|
•
|
The Company is at the time of the consummation of the transaction, and at all times throughout the preceding twelve months have been, directly or indirectly, the owner of a majority of each class of the outstanding equity securities of the 5% stockholder that is a party to the transaction; or
|
•
|
The transaction has been approved by a majority of the members of the Company’s Board of Directors who, at the time such approval is given, were not affiliates or nominees of the 5% stockholder; or
|
•
|
Both of the following conditions have been met:
|
•
|
the aggregate amount of the cash and the fair market value, as determined in good faith by the Company’s Board of Directors, of the consideration other than cash to be received per share by holders of the Company’s voting stock in such transaction shall be at least equal to the highest per share price paid by the 5% stockholder for any shares of voting stock acquired by it:
|
•
|
within the two-year period immediately prior to the first public announcement of the proposal of the transaction, or
|
•
|
in the transaction in which it became a 5% stockholder, whichever is higher; and
|
•
|
the consideration to be received by holders of a particular class of outstanding voting stock shall be in cash or in the same form as the 5% stockholder previously paid for shares of such voting stock. If the 5% stockholder paid for shares of any class of voting stock with varying forms of consideration, the form of consideration to be paid by the 5% stockholder for such class of voting stock shall be either cash or the form used to acquire the largest number of shares of such class of voting stock previously acquired by the stockholder.
|
(1)
|
the common depositary notifies us that it is unwilling, unable or no longer qualified to continue as depositary for the global notes and we fail to appoint a successor depositary within 90 calendar days;
|
(2)
|
we, at our option, notify the Trustee in writing that we elect to cause the issuance of certificated notes; or
|
(3)
|
there has occurred and is continuing an event of default with respect to the notes.
|
•
|
We do not pay the principal or any premium on a debt security of that series within 30 days after its maturity date.
|
•
|
We do not pay interest on a debt security of that series within 30 days after its due date.
|
•
|
We do not deposit any sinking fund payment for that series within 30 days after its due date.
|
•
|
We remain in breach of any other term of the applicable indenture (other than a term added to the indenture solely for the benefit of another series) for 60 days after we receive a written notice of default from the trustee or holders of at least a majority in principal amount of debt securities of the affected series specifying the breach and requiring it to be remedied.
|
•
|
We default under any of our other indebtedness in specified amounts after the expiration of any applicable grace period, which default results in the acceleration of the maturity of such indebtedness. Such default is not an event of default if the other indebtedness is discharged, or the acceleration is rescinded or annulled, within a period of 10 days after we receive a written notice from the trustee or holders of at least a majority in principal amount of debt securities of the affected series specifying the default and requiring that we discharge the other indebtedness or cause the acceleration to be rescinded or annulled.
|
•
|
We or one of our “significant subsidiaries,” if any, files for bankruptcy or certain other events in bankruptcy, insolvency or reorganization occur. The term “significant subsidiary” means each of our significant subsidiaries, if any, as defined in Regulation S-X under the Securities Act of 1933, as amended.
|
•
|
Any other event of default described in the applicable prospectus supplement occurs.
|
•
|
We do not pay the principal or any premium on the notes at their maturity date.
|
•
|
We default under any of our other indebtedness in an aggregate principal amount exceeding $10,000,000 after the expiration of any applicable grace period, which default results in the acceleration of the maturity of such indebtedness. Such default is not an event of default if the other indebtedness is discharged, or the acceleration is rescinded or annulled, within a period of 10 days after we receive notice specifying the default and requiring that we discharge the other indebtedness or cause the acceleration to be rescinded or annulled. Either the Trustee or the holders of more than 50% in principal amount of the outstanding notes may send the notice.
|
•
|
The entry by a court of competent jurisdiction of one or more judgments, orders or decrees against us or any of our subsidiaries in an aggregate amount (excluding amounts fully covered by insurance) in excess of $10,000,000 and such judgments, orders or decrees remain undischarged, unstayed and unsatisfied in an aggregate amount (excluding amounts fully covered by insurance) in excess of $10,000,000 for a period of 30 consecutive days.
|
•
|
you must give the trustee written notice that an event of default has occurred and remains uncured;
|
•
|
the holders of at least a majority in principal amount of all outstanding securities of the relevant series must make a written request that the trustee take action because of the default, and must offer reasonable indemnity to the trustee against the cost and other liabilities of taking that action; and
|
•
|
the trustee must have not taken action for 60 days after receipt of the notice and offer of indemnity.
|
•
|
if we merge out of existence or sell our assets, the other company must be an entity organized under the laws of one of the states of the United States or the District of Columbia or under United States federal law and must agree to be legally responsible for our debt securities; and
|
•
|
immediately after the merger, sale of assets or other transaction, we may not be in default on the debt securities. A default for this purpose would include any event that would be an event of default if the requirements regarding notice of default or continuing default for a specific period of time were disregarded.
|
•
|
change the stated maturity of the principal or interest on a debt security;
|
•
|
reduce any amounts due on a debt security;
|
•
|
reduce the amount of principal payable upon acceleration of the maturity of a debt security following a default;
|
•
|
change the currency of payment on a debt security;
|
•
|
impair your right to sue for payment;
|
•
|
modify the subordination provisions, if any, in a manner that is adverse to you;
|
•
|
reduce the percentage of holders of debt securities whose consent is needed to modify or amend an indenture or to waive compliance with certain provisions of an indenture;
|
•
|
reduce the percentage of holders of debt securities whose consent is needed to waive past defaults or change certain provisions of the indenture relating to waivers of default; or
|
•
|
waive a default or event of default in the payment of principal, interest, or premium, if any, on the debt securities.
|
2020-2022 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%
|
6.9x
|
6.4x
|
5.9x
|
•
|
A Performance Award of [____] performance-based restricted stock units (the “Target Award”) on February 14, 2020 (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, 2021, one-fourth of such shares will become fully vested and nonforfeitable on January 15, 2022, one-fourth of such shares will become fully vested and nonforfeitable on January 15, 2023, and one-fourth of such shares will become fully vested and nonforfeitable on January 15, 2024 (each such date, the “Vesting Date”).
|
|
EXHIBIT 21
|
|
|
Subsidiary Name
|
Jurisdiction of Organization
|
0722548 B.C. Ltd.
|
British Columbia
|
100 Knoedler Road, LLC
|
Delaware
|
100 Trich Drive LLC
|
Delaware
|
1000 Aston Gardens Drive, LLC
|
Delaware
|
101 E 87th Ave LLC
|
Delaware
|
101052983 Saskatchewan Ltd.
|
Saskatchewan
|
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
|
11320 North Council Road, LLC
|
Delaware
|
1133 Black Rock Road, LLC
|
Delaware
|
1137915 B.C. Ltd.
|
British Columbia
|
1200 North State Street Jackson LLC
|
Delaware
|
12188A North Meridian St LLC
|
Delaware
|
12188B North Meridian St LLC
|
Delaware
|
1220 La Venta Drive Westlake Medical LLC
|
Delaware
|
1231356 Ontario Limited
|
Ontario
|
1250 La Venta Drive Community Medical 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
|
135 Bunton Creek Rd 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
|
1501 N Florence Ave LLC
|
Delaware
|
1512 12th Avenue LLC
|
Delaware
|
15255 Max Leggett Parkway Jacksonville LLC
|
Delaware
|
1528670 Ontario Limited
|
Ontario
|
1530 Needmore Rd LLC
|
Delaware
|
15401 North Pennsylvania Avenue, LLC
|
Delaware
|
1555 E. South Boulevard Rochester Hills LLC
|
Delaware
|
1574 Creekside Drive Folsom, LLC
|
California
|
1600 Center Road, LLC
|
Delaware
|
1640 Newport Blvd. LP
|
Delaware
|
1814 Roseland Boulevard LLC
|
Delaware
|
1815 E Lake Mead Blvd LLC
|
Delaware
|
1900 N Loop W Fwy LLC
|
Delaware
|
1921 Waldemere St LLC
|
Delaware
|
1931 Southwest Arvonia Place, LLC
|
Delaware
|
195 Fore River Pkwy LLC
|
Delaware
|
1950 Sunny Crest Dr LLC
|
Delaware
|
2 Hospital Plaza Old Bridge LLC
|
Delaware
|
2000 Emerald Court LLC
|
Delaware
|
20207 Chasewood Park Drive LLC
|
Delaware
|
2035244 Ontario Inc.
|
Ontario
|
2050 North Webb Road, LLC
|
Delaware
|
2101 Charlotte Street Kansas City LLC
|
Delaware
|
2101 New Hope Street, LLC
|
Delaware
|
220 North Clark Drive, LLC
|
Delaware
|
2200 NW Myhre Road LLC
|
Delaware
|
2217 Decatur Highway LLC
|
Delaware
|
2222 S Harbor City Blvd 1070 Prospect Ave LLC
|
Delaware
|
231 Courtyard Boulevard, LLC
|
Delaware
|
2315 Myrtle Street Erie LLC
|
Delaware
|
2323 N Casaloma Drive LLC
|
Delaware
|
23351 Prairie Star Pkwy LLC
|
Delaware
|
2340829 Ontario Inc.
|
Ontario
|
2340830 Ontario Inc.
|
Ontario
|
239 Cross Road LLC
|
Delaware
|
2419 North Euclid Avenue Upland, LLC
|
California
|
2488 N California Street LLC
|
Delaware
|
2721 Willow Street LP
|
Delaware
|
27783 Center Drive LP
|
Delaware
|
2800 60th Avenue West, LLC
|
Delaware
|
2929 West Holcombe Boulevard, LLC
|
Delaware
|
300 St. Albans Drive, LP
|
Delaware
|
300 W Country Club Rd LLC
|
Delaware
|
303 West Lake Street LLC
|
Delaware
|
3220 Peterson Road, LLC
|
Delaware
|
3485 Independence Drive LLC
|
Delaware
|
35 Fenton Street, LLC
|
Delaware
|
350 W Country Club Rd 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
|
3688 Veterans Memorial Drive 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
|
4206 Stammer Place, LLC
|
Delaware
|
4308 Alton Road Miami Beach LLC
|
Delaware
|
4310 Bee Cave Road, LLC
|
Delaware
|
4315 Johns Creek Parkway, LLC
|
Delaware
|
435 Bedford LLC
|
Delaware
|
4402 South 129th Avenue West, LLC
|
Delaware
|
44344 Dequindre Road Sterling Heights LLC
|
Delaware
|
444 Merrick Road LLC
|
Delaware
|
450 South Kitsap Boulevard LLC
|
Delaware
|
4500 Dorr Street Holdings, LLC
|
Delaware
|
4515 Marsha Sharp Freeway LLC
|
Delaware
|
4515 Premier Dr LLC
|
Delaware
|
4800 Aston Gardens Way, LLC
|
Delaware
|
9198-9541 Quebec Inc.
|
Qubec
|
9208-0837 Quebec Inc.
|
Qubec
|
9301 W 74th St LLC
|
Delaware
|
9307-0985 Quebec Inc.
|
Qubec
|
9307-1306 Quebec Inc.
|
Qubec
|
9307-1348 Quebec Inc.
|
Qubec
|
9314-3410 Quebec Inc.
|
Qubec
|
9330 Poppy Dr LLC
|
Delaware
|
ADS/Multicare, Inc.
|
Delaware
|
Affordable Senior Housing Opportunities of New York, Inc.
|
New York
|
AL Santa Monica Senior Housing, LP
|
Delaware
|
Alberta Acres Facility Inc.
|
Ontario
|
Amherst View (Bath Road) Facility Inc.
|
Ontario
|
Apple Valley Operating Corp.
|
Massachusetts
|
Arnprior Villa Facility Inc.
|
Ontario
|
Aspen Tower Investments Ltd
|
Jersey
|
Aspen Tower Partner 1 Inc.
|
Delaware
|
Aspen Tower Partner 10 Inc.
|
Delaware
|
Aspen Tower Partner 11 Inc.
|
Delaware
|
Aspen Tower Partner 2 Inc.
|
Delaware
|
Aspen Tower Partner 3 Inc.
|
Delaware
|
Aspen Tower Partner 4 Inc.
|
Delaware
|
Aspen Tower Partner 5 Inc.
|
Delaware
|
Aspen Tower Partner 6 Inc.
|
Delaware
|
Aspen Tower Partner 7 Inc.
|
Delaware
|
Aspen Tower Partner 8 Inc.
|
Delaware
|
Aspen Tower Partner 9 Inc.
|
Delaware
|
Aspen Tower Propco 1 Ltd
|
United Kingdom
|
Aspen Tower Propco 2 Limited
|
United Kingdom
|
Aspen Tower Propco 3 Ltd
|
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
|
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 LP
|
Delaware
|
Benchmark Investments XI LP
|
Delaware
|
Benchmark Investments XII LP
|
Delaware
|
Benchmark Investments XIV LLC
|
Delaware
|
Berkshire Subtenant LP
|
Delaware
|
BKD-HCN Landlord, LLC
|
Delaware
|
BKD-HCN Tenant, LLC
|
Delaware
|
Boardman Physicians LLC
|
Delaware
|
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
|
BSL Sparti TRS LLC
|
Delaware
|
Burbank Subtenant LP
|
Delaware
|
Bushey Property Holdings S.a.r.l.
|
Luxembourg
|
B-X Operations Holding Company LLC
|
Delaware
|
B-X Shelburne LLC
|
Delaware
|
B-XI Operations Holding Company LLC
|
Delaware
|
B-XII Operations Holding Company LLC
|
Delaware
|
B-XIV Operations Holding Company LLC
|
Delaware
|
Camelia Care Limited
|
United Kingdom
|
Cassils Road West Property Inc.
|
British Columbia
|
Castle Rock Healthcare Investors, LLC
|
Delaware
|
Cerritos Subtenant LP
|
Delaware
|
Chapel Hill II JV Sub, LLC
|
Delaware
|
Chapel Hill II JV, LLC
|
Delaware
|
CSH-HCN Lessee (Boulogne) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Boulogne) LP
|
Ontario
|
CSH-HCN Lessee (Chicoutimi) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Chicoutimi) LP
|
Ontario
|
CSH-HCN Lessee (Christopher) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Christopher) LP
|
Ontario
|
CSH-HCN Lessee (Ecores) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Ecores) LP
|
Ontario
|
CSH-HCN Lessee (Fountains) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Fountains) LP
|
Ontario
|
CSH-HCN Lessee (Giffard) GP Inc.
|
Ontario
|
CSH-HCN Lessee (Giffard) LP
|
Ontario
|
CSH-HCN Lessee (Gordon) GP Inc.
|
Ontario
|
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
|
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 Corp.
|
Delaware
|
Genesis Eldercare National Centers, Inc.
|
Florida
|
Genesis Health Ventures of Bloomfield, Inc.
|
Pennsylvania
|
Genesis Health Ventures of Massachusetts, 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
|
Genoa Healthcare Investors, LLC
|
Delaware
|
Geriatric and Medical Services, Inc.
|
New Jersey
|
Gig Harbor Physicians, LLC
|
Delaware
|
Golden Gate Subtenant LP
|
Delaware
|
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 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 (Salisbury) S.a.r.l.
|
Luxembourg
|
Gracewell Properties (Shelbourne) S.a.r.l.
|
Luxembourg
|
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 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 Purchasing Group, LLC
|
Delaware
|
HCN Ross Leasing Ltd.
|
Ontario
|
HCN Ross Leasing Ltd. - (Continued)
|
British Columbia
|
HCN Ross Leasing Ltd. - OLD
|
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 (Heritage Lodge) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Heritage Lodge) LP
|
Ontario
|
HCN-Revera Lessee (Highland Place) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Highland Place) LP
|
Ontario
|
HCN-Revera Lessee (Hollyburn House) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Hollyburn House) LP
|
Ontario
|
HCN-Revera Lessee (Horizon Place) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Horizon Place) LP
|
Ontario
|
HCN-Revera Lessee (Hunt Club Manor) GP Inc.
|
Ontario
|
HCN-Revera Lessee (Hunt Club Manor) LP
|
Ontario
|
HCN-Revera Lessee (Inglewood) 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 Boardman Properties, LLC
|
Delaware
|
HCRI Connecticut Avenue Subtenant, LLC
|
Delaware
|
HCRI Draper Place Properties Trust
|
Massachusetts
|
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 Minnetonka 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 Wilburn Gardens Properties, LLC
|
Delaware
|
HCRI Wisconsin Properties, LLC
|
Wisconsin
|
Health Care REIT, LLC
|
Delaware
|
Health Resources Of Cinnaminson, Inc.
|
New Jersey
|
Healthcare Property Managers Of America, LLC
|
Florida
|
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
|
Hunt Club Manor Facility Inc.
|
Ontario
|
I.L.S. Care Communities Inc.
|
Manitoba
|
Imperial Place Residence Inc. / Residence Place Imperiale Inc.
|
Qubec
|
Jupiter Landlord, LLC
|
Delaware
|
Kaiser Gemini Burgundy, LLC
|
Oklahoma
|
Kaiser Gemini Woodland, LLC
|
Oklahoma
|
Karrington of Findlay Ltd.
|
Ohio
|
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
|
Lawrence Care (Maids Moreton) Limited
|
United Kingdom
|
Le Wellesley Inc.
|
Qubec
|
Lenexa Investors II, LLC
|
Delaware
|
Lenexa Investors, LLC
|
Delaware
|
Leon Dorchester Facility Inc.
|
Ontario
|
Les Belvederes De Lachine Inc.
|
Canada
|
Les Jardins Laviolette Inc.
|
Qubec
|
Les Residences-Hotellerie Harmonie Inc.
|
Qubec
|
Lillington AL Health Investors, LP
|
Virginia
|
Lundy Manor Facility Inc.
|
Ontario
|
Maids Moreton Operations Limited
|
United Kingdom
|
Manoir Archer Inc.
|
Qubec
|
Manoir Bois De Boulogne Inc.
|
Qubec
|
Manoir et Cours de l'Atrium Inc.
|
Qubec
|
Manoir Pointe-Aux-Trembles Inc.
|
Qubec
|
Manoir St-Jerome Inc.
|
Qubec
|
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 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
|
Meridian Healthcare, Inc.
|
Pennsylvania
|
MetSun Three Mundelein IL Senior Living, LLC
|
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 7278 Rosemont Circle, LLC
|
Delaware
|
MGP Gilroy, LLC
|
Delaware
|
MGP Green Valley Ranch, LLC
|
Delaware
|
MGP Willow Glen, LLC
|
Delaware
|
MGP X, LLC
|
Delaware
|
Middletown (RI) Associates of Rhode Island, L.P.
|
Delaware
|
Midpark Way S.E. Property Inc.
|
British Columbia
|
Mill Creek Real Estate Partners, LLC
|
Delaware
|
Mill Hill Retirement Facility Inc.
|
Ontario
|
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
|
NC Sparti 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
|
Oakland Care Centre Limited
|
United Kingdom
|
Ogilvie Facility Inc.
|
Ontario
|
Oshawa Facility Inc.
|
Ontario
|
Ottershaw Property Holdings S.a.r.l.
|
Luxembourg
|
Overland Park Tenant, LLC
|
Delaware
|
Palmer Healthcare Investors LLC
|
Delaware
|
Paramount Real Estate Services, Inc.
|
Delaware
|
Parkland Commons Subtenant, LLC
|
Delaware
|
Pelican Marsh Subtenant, LLC
|
Delaware
|
Pelican Point Subtenant, LLC
|
Delaware
|
Pleasant View Retirement Limited Liability Company
|
Delaware
|
Portage Care 2015, LLC
|
Michigan
|
Portsmouth Facility Inc.
|
Ontario
|
Potomac Acquisition LLC
|
Delaware
|
Poughkeepsie Hopewell Junction LLC
|
Delaware
|
PSL Associates - Brockport, Inc.
|
Virginia
|
PSL Associates - Queensbury, Inc.
|
Virginia
|
PSL Associates, 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
|
RC 101 E 87th Ave LLC
|
Delaware
|
RC 12188A North Meridian St LLC
|
Delaware
|
RC 12188B North Meridian St LLC
|
Delaware
|
RC 135 Bunton Creek Rd LLC
|
Delaware
|
RC 1501 N Florence Ave LLC
|
Delaware
|
RC 1530 Needmore Rd LLC
|
Delaware
|
RC 1815 E Lake Mead Blvd LLC
|
Delaware
|
RC 1900 N Loop W Fwy LLC
|
Delaware
|
RC 1921 Waldemere St LLC
|
Delaware
|
RC 195 Fore River Pkwy LLC
|
Delaware
|
RC 1950 Sunny Crest Dr LLC
|
Delaware
|
RC 2222 S Harbor City Blvd 1070 Prospect Ave LLC
|
Delaware
|
RC 23351 Prairie Star Pkwy LLC
|
Delaware
|
RC 300 W Country Club Rd LLC
|
Delaware
|
RC 350 W Country Club Rd LLC
|
Delaware
|
RC 4515 Premier Dr LLC
|
Delaware
|
RC 5282 Medical Dr LLC
|
Delaware
|
RC 550 Orchard Park Rd LLC
|
Delaware
|
RC 5655 Hudson Dr LLC
|
Delaware
|
RC 601 W Country Club Rd LLC
|
Delaware
|
RC 6424 E Broadway Rd LLC
|
Delaware
|
RC 6635 Lake Dr LLC
|
Delaware
|
RC 701 White Pond Dr LLC
|
Delaware
|
RC 7916 Jefferson Blvd LLC
|
Delaware
|
RC 8120 Timberlake Way LLC
|
Delaware
|
RC 8800 W 75th St LLC
|
Delaware
|
RC 8901 W 74th St LLC
|
Delaware
|
RC 9301 W 74th St LLC
|
Delaware
|
RC 9330 Poppy Dr LLC
|
Delaware
|
RC Princeton Ave SW LLC
|
Delaware
|
Redmond Partners, 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
|
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 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
|
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 Renaissance Resort Retirement Living Inc. / Complexe De Residence Renaissance Inc.
|
Canada
|
Thousand Oaks Property Owner LLC
|
Delaware
|
Trafalgar Facility Inc.
|
Ontario
|
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
|
Villa Chicoutimi Inc.
|
Qubec
|
Villa de L'Estrie Inc.
|
Qubec
|
Villa du Saguenay Inc.
|
Qubec
|
Villa Jonquiere Inc.
|
Qubec
|
Villa Rive-Sud Inc.
|
Qubec
|
Virginia Beach Health Investors, LLC
|
Virginia
|
Voorhees Healthcare Properties, LLC
|
Delaware
|
Voorhees Physicians, LLC
|
Delaware
|
W TCG Burleson AL, LLC
|
Delaware
|
Warwick Associates Of Rhode Island, L.P.
|
Delaware
|
Waterleaf 20 Medical Office Condominiums, Inc.
|
Texas
|
WELL 2010 LLC
|
Delaware
|
WELL 2010 REIT LLC
|
Delaware
|
WELL 4865 MacArthur Blvd LLC
|
Delaware
|
WELL Balfour Landlord LLC
|
Delaware
|
WELL Balfour Tenant LLC
|
Delaware
|
WELL BL OpCo LLC
|
Delaware
|
WELL BL Potomac Operator LLC
|
Delaware
|
WELL Brandywine Howell LLC
|
Delaware
|
WELL Frontier Landlord LLC
|
Delaware
|
WELL Frontier Tenant LLC
|
Delaware
|
WELL I-A Properties LLC
|
Delaware
|
WELL Ibis Portfolio Member LLC
|
Delaware
|
WELL LCB Landlord LLC
|
Delaware
|
WELL LCB Portfolio 1 Landlord LLC
|
Delaware
|
WELL LCB Portfolio 1 Tenant LLC
|
Delaware
|
WELL LCB Tenant LLC
|
Delaware
|
WELL Los Gatos LLC
|
Delaware
|
WELL M&O Haymarket JV LLC
|
Delaware
|
WELL Mezzanine Lender LLC
|
Delaware
|
WELL OSL Carmichael LLC
|
Delaware
|
WELL OSL DownREIT Holdco LLC
|
Delaware
|
WELL OSL DownREIT JV Landlord LLC
|
Delaware
|
WELL OSL DownREIT Member LLC
|
Delaware
|
WELL OSL EL Dorado LLC
|
Delaware
|
WELL OSL North Fresno
|
Delaware
|
WELL OSL Orange LLC
|
Delaware
|
WELL OSL Pacific Beach LLC
|
Delaware
|
WELL OSL Redding LLC
|
Delaware
|
WELL Pappas Berkeley Owner 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
|
WellClover Holdings LLC
|
Delaware
|
WellClover TRS LLC
|
Delaware
|
WellClover Venture 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 Canadian Services TRS GP LTD.
|
Ontario
|
Welltower Canadian Services TRS LP
|
Ontario
|
Welltower Carmichael Tenant 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 Issaquah PropCo LLC
|
Delaware
|
Welltower Eclipse Issaquah TRS LLC
|
Delaware
|
Welltower FLEX 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 Holdco GP LLC
|
Delaware
|
Welltower Kisco RIDEA Holdco LP
|
Delaware
|
Welltower Kisco RIDEA Landlord, LLC
|
Delaware
|
Welltower Kisco RIDEA Tenant, LLC
|
Delaware
|
Welltower KSL Owner LLC
|
Delaware
|
Welltower Landlord Group LLC
|
Delaware
|
Welltower Management Company Holdco LLC
|
Delaware
|
Welltower Mission Viejo Medical Center JV, LLC
|
Delaware
|
Welltower NNN Group LLC
|
Delaware
|
Welltower North Fresno Tenant 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 Orange Tenant LLC
|
Delaware
|
Welltower Pacific Beach Tenant LLC
|
Delaware
|
Welltower Pegasus Landlord, LLC
|
Delaware
|
Welltower Pegasus Tenant, LLC
|
Delaware
|
Welltower Pegasus TRS LLC
|
Delaware
|
Welltower Portfolio Tenant LLC
|
Delaware
|
Welltower PropCo Group Borrower LLC
|
Delaware
|
Welltower PropCo Group LLC
|
Delaware
|
Welltower Redding Tenant 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 Tenant Group 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
|
Westford Littleton Road I LLC
|
Delaware
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Westminster Junction Venture, LLC
|
Minnesota
|
White Plains Associates Lessee LLC
|
Delaware
|
White Plains Associates LLC
|
Delaware
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White Plains Garage Developer LLC
|
Delaware
|
White Plains Senior Housing Lessee LLC
|
Delaware
|
White Plains Senior Housing Owner LLC
|
Delaware
|
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
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Windrose St. Louis I Properties, LLC
|
Delaware
|
Windrose Tulsa Properties, L.L.C.
|
Delaware
|
Windrose West Boca Properties, Ltd.
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Florida
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Windrose West Seneca Properties, LLC
|
Delaware
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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
|
•
|
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;
|
•
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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
|
•
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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
|
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/s/ Kathryn M. Sullivan
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Jeffrey H. Donahue, Lead Director
|
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Kathryn M. Sullivan, Director
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|
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/s/ Kenneth J. Bacon
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/s/ R. Scott Trumbull
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Kenneth J. Bacon, Director
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R. Scott Trumbull, Director
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|
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/s/ Karen B. DeSalvo
|
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/s/ Thomas J. DeRosa
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Karen B. DeSalvo, Director
|
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Thomas J. DeRosa, Chief Executive Officer and Director
(Principal Executive Officer) |
|
|
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/s/ Sharon M. Oster
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/s/ Timothy G. McHugh
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Sharon M. Oster, Director
|
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Timothy G. McHugh, Senior Vice President and
Chief Financial Officer (Principal Financial Officer) |
|
|
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/s/ Sergio D. Rivera
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/s/ Joshua T. Fieweger
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Sergio D. Rivera, Director
|
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Joshua T. Fieweger, Senior Vice President - Controller
(Principal Accounting Officer) |
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/s/ Johnese M. Spisso
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Johnese M. Spisso, Director
|
|
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1.
|
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I have reviewed this annual report on Form 10-K of Welltower Inc.;
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||||
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|
||||
2.
|
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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.
|
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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.
|
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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)
|
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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)
|
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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,
|
|
|
Chairman and Chief Executive Officer
|
|
|
|
|
|
|
|
|
|
||
|
/s/ TIMOTHY G. MCHUGH
|
|
||
|
Timothy G. McHugh,
|
|
||
|
Chief Financial Officer
Date: February 14, 2020
|
|
||
|
|
|
|
|
|
|
|
|
||
|
/s/ THOMAS J. DEROSA
|
|
||
|
Thomas J. DeRosa,
|
|
||
|
Chairman and Chief Executive Officer
Date: February 14, 2020
|
|
||
|
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/ TIMOTHY G. MCHUGH
|
|
|
Timothy G. McHugh,
|
|
|
Chief Financial Officer
|
|