ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Maryland | ||||||||||||||||||||
20-4738467 | ||||||||||||||||||||
Delaware | (Healthcare Trust of America Holdings, LP) | 20-4738347 | ||||||||||||||||||
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |||||||||||||||||||
16435 N. Scottsdale Road, Suite 320, | Scottsdale, | Arizona | 85254 | (480) | 998-3478 | http://www.htareit.com | ||||||||||||||||||||||||||||||||
(Address of principal executive office and zip code) | (Registrant's telephone number, including area code) | (Internet address) |
Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||||||||||||
HTA | New York Stock Exchange |
Healthcare Trust of America, Inc. | ☐ | No | Healthcare Trust of America Holdings, LP | ☐ | No |
Healthcare Trust of America, Inc. | ☒ | No | Healthcare Trust of America Holdings, LP | ☒ | No |
Healthcare Trust of America, Inc. | ☐ | No | Healthcare Trust of America Holdings, LP | ☐ | No |
Healthcare Trust of America, Inc. | ☐ | No | Healthcare Trust of America Holdings, LP | ☐ | No |
Healthcare Trust of America, Inc. | Large accelerated filer | ☐ | Accelerated filer | ☐ | Non-accelerated filer | |||||||||||||||||
Healthcare Trust of America Holdings, LP | Large accelerated filer | ☐ | Accelerated filer | ☒ | Non-accelerated filer |
Healthcare Trust of America, Inc. | ☐ | Smaller reporting company | ☐ | Emerging growth company | |||||||||||
Healthcare Trust of America Holdings, LP | ☐ | Smaller reporting company | Emerging growth company |
Healthcare Trust of America, Inc. | ☐ | Healthcare Trust of America Holdings, LP | ☐ |
Healthcare Trust of America, Inc. | ☒ | Yes | ☐ | No | Healthcare Trust of America Holdings, LP | ☒ | Yes | ☐ | No |
Healthcare Trust of America, Inc. | ☒ | No | Healthcare Trust of America Holdings, LP | ☒ | No |
Page | ||||||||||
Portfolio Diversification by Type | Number of Buildings | Number of States | GLA (1) | Percent of Total GLA | Annualized Base Rent (1)(2) | Percent of Annualized Base Rent | Portfolio Diversification by Type | Number of Buildings | Number of States | Annualized Base Rent (1)(2) | Percent of Annualized Base Rent | GLA (1) | Percent of Total GLA | ||||||||||||||||||||||||||||||||||||||||||||
Medical Office Buildings | Medical Office Buildings | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Single-tenant | 118 | 22 | 6,408 | 26.6 | % | $ | 146,821 | 27.9 | % | Single-tenant | 125 | 18 | 142,161 | 24.3 | % | $ | 5,765 | 22.1 | % | ||||||||||||||||||||||||||||||||||||||
Multi-tenant | 312 | 31 | 16,397 | 68.0 | 341,838 | 65.0 | Multi-tenant | 327 | 32 | 403,707 | 69.1 | 18,982 | 72.8 | ||||||||||||||||||||||||||||||||||||||||||||
Other Healthcare Facilities | Other Healthcare Facilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hospitals | 15 | 7 | 954 | 3.9 | 32,377 | 6.1 | Hospitals | 15 | 7 | 32,696 | 5.6 | 954 | 3.7 | ||||||||||||||||||||||||||||||||||||||||||||
Senior care | 3 | 1 | 355 | 1.5 | 5,242 | 1.0 | Senior care | 3 | 1 | 5,786 | 1.0 | 354 | 1.4 | ||||||||||||||||||||||||||||||||||||||||||||
Total | 448 | 33 | 24,114 | 100 | % | $ | 526,278 | 100 | % | Total | 470 | 32 | 584,350 | 100 | % | $ | 26,055 | 100 | % | ||||||||||||||||||||||||||||||||||||||
(1) Amounts presented in thousands. | (1) Amounts presented in thousands. | (2) Annualized base rent is calculated by multiplying contractual base rent as of the end of the year by 12 (excluding the impact of abatements, concessions, and straight-line rent). |
Health System (1) | Weighted Average Remaining Lease Term (2) | Annualized Base Rent (3)(4) | Percent of Annualized Base Rent | Total Leased GLA (3) | Percent of Leased GLA | |||||||||||||||||||||||||||
Baylor Scott & White Health | 5 | 23,797 | 4.1 | % | $ | 827 | 3.6 | % | ||||||||||||||||||||||||
HCA Healthcare | 6 | 22,052 | 3.8 | 741 | 3.2 | |||||||||||||||||||||||||||
Highmark-Allegheny Health Network | 8 | 17,681 | 3.0 | 927 | 4.0 | |||||||||||||||||||||||||||
Tenet Healthcare Corporation | 6 | 15,046 | 2.6 | 600 | 2.6 | |||||||||||||||||||||||||||
Ascension | 5 | 11,823 | 2.0 | 485 | 2.1 | |||||||||||||||||||||||||||
Tufts Medical Center | 6 | 11,598 | 2.0 | 255 | 1.1 | |||||||||||||||||||||||||||
Steward Health Care | 8 | 10,644 | 1.8 | 380 | 1.6 | |||||||||||||||||||||||||||
AdventHealth | 4 | 9,994 | 1.7 | 402 | 1.7 | |||||||||||||||||||||||||||
Community Health Systems | 7 | 7,944 | 1.4 | 385 | 1.7 | |||||||||||||||||||||||||||
CommonSpirit Health | 8 | 7,884 | 1.3 | 356 | 1.5 | |||||||||||||||||||||||||||
Emblem Health | 13 | 7,649 | 1.3 | 281 | 1.2 | |||||||||||||||||||||||||||
Trinity Health | 6 | 7,227 | 1.2 | 288 | 1.2 | |||||||||||||||||||||||||||
Harbin Clinic | 6 | 7,225 | 1.2 | 316 | 1.4 | |||||||||||||||||||||||||||
United Health Group | 4 | 6,426 | 1.1 | 279 | 1.2 | |||||||||||||||||||||||||||
Mercy Health | 6 | 6,226 | 1.1 | 190 | 0.8 | |||||||||||||||||||||||||||
173,216 | 29.6 | % | $ | 6,712 | 28.9 | % | ||||||||||||||||||||||||||
(1) The amounts in this table illustrate only direct leases with selected leading health systems in our portfolio and are not inclusive of all health system tenants. | ||||||||||||||||||||||||||||||||
(2) Amounts presented in years. | ||||||||||||||||||||||||||||||||
(3) Amounts presented in thousands. | ||||||||||||||||||||||||||||||||
(4) Annualized base rent is calculated by multiplying contractual base rent as of the end of the year by 12 (excluding the impact of abatements, concessions, and straight-line rent). |
Health System (1) | Weighted Average Remaining Lease Term (2) | Total Leased GLA (3) | Percent of Leased GLA | Annualized Base Rent (3)(4) | Percent of Annualized Base Rent | |||||||||||
Baylor Scott & White Health | 8 | 849 | 3.8 | % | $ | 22,752 | 4.3 | % | ||||||||
Highmark-Allegheny Health Network | 5 | 914 | 4.1 | 17,645 | 3.3 | |||||||||||
Community Health Systems (TN) | 7 | 738 | 3.3 | 16,227 | 3.1 | |||||||||||
Greenville Health System | 6 | 806 | 3.7 | 15,976 | 3.0 | |||||||||||
Ascension Health | 2 | 467 | 2.1 | 11,672 | 2.2 | |||||||||||
Tufts Medical Center | 10 | 252 | 1.1 | 10,251 | 2.0 | |||||||||||
Steward Health Care System | 9 | 380 | 1.7 | 9,418 | 1.8 | |||||||||||
Hospital Corporation of America | 3 | 342 | 1.6 | 9,407 | 1.8 | |||||||||||
Tenet Healthcare System | 8 | 384 | 1.7 | 9,171 | 1.7 | |||||||||||
Providence St. Joseph Health | 2 | 262 | 1.2 | 8,942 | 1.7 | |||||||||||
SCL Health | 14 | 167 | 0.8 | 8,238 | 1.6 | |||||||||||
Harbin Clinic | 10 | 313 | 1.4 | 6,687 | 1.3 | |||||||||||
Adventist Health | 4 | 285 | 1.3 | 6,228 | 1.2 | |||||||||||
Mercy Health | 9 | 251 | 1.1 | 6,184 | 1.2 | |||||||||||
Atrium Health | 3 | 190 | 0.9 | 5,727 | 1.1 | |||||||||||
Total | 6,600 | 29.8 | % | $ | 164,525 | 31.3 | % | |||||||||
(1) The amounts in this table illustrate only direct leases with selected top health systems in our portfolio and are not inclusive of all health system tenants. | ||||||||||||||||
(2) Amounts presented in years. | ||||||||||||||||
(3) Amounts presented in thousands. | ||||||||||||||||
(4) Annualized base rent is calculated by multiplying contractual base rent as of the end of the year by 12 (excluding the impact of abatements, concessions, and straight-line rent). |
Key Markets | Investment (1) | Percent of Investment | Total GLA (1) | Annualized Base Rent (1)(2) | Percent of Annualized Base Rent | ||||||||||||
Dallas, TX | $ | 843,274 | 12.1 | % | 2,053 | $ | 49,243 | 9.4 | % | ||||||||
Houston, TX | 430,979 | 6.2 | 1,484 | 31,333 | 6.0 | ||||||||||||
Boston, MA | 410,730 | 5.9 | 1,037 | 33,440 | 6.4 | ||||||||||||
Tampa, FL | 347,764 | 5.0 | 943 | 22,479 | 4.3 | ||||||||||||
Atlanta, GA | 325,186 | 4.7 | 1,088 | 23,197 | 4.4 | ||||||||||||
Indianapolis, IN | 281,768 | 4.0 | 1,396 | 24,742 | 4.7 | ||||||||||||
Hartford/New Haven, CT | 277,509 | 4.0 | 969 | 20,935 | 4.0 | ||||||||||||
Phoenix, AZ | 267,781 | 3.8 | 1,315 | 24,716 | 4.7 | ||||||||||||
Denver, CO | 246,957 | 3.5 | 538 | 17,193 | 3.3 | ||||||||||||
Orange County/Los Angeles, CA | 241,242 | 3.5 | 513 | 13,550 | 2.6 | ||||||||||||
Miami, FL | 228,624 | 3.3 | 996 | 21,416 | 4.1 | ||||||||||||
Chicago, IL | 190,778 | 2.7 | 382 | 11,237 | 2.1 | ||||||||||||
Raleigh, NC | 185,564 | 2.7 | 608 | 14,977 | 2.8 | ||||||||||||
Albany, NY | 179,253 | 2.6 | 881 | 16,042 | 3.0 | ||||||||||||
Greenville, SC | 179,070 | 2.6 | 965 | 18,014 | 3.4 | ||||||||||||
Austin, TX | 164,425 | 2.3 | 408 | 8,320 | 1.6 | ||||||||||||
Orlando, FL | 156,300 | 2.2 | 511 | 10,754 | 2.0 | ||||||||||||
Pittsburgh, PA | 148,612 | 2.1 | 1,094 | 20,735 | 3.9 | ||||||||||||
White Plains, NY | 126,144 | 1.8 | 333 | 7,818 | 1.5 | ||||||||||||
Milwaukee, WI | 116,082 | 1.7 | 368 | 7,492 | 1.4 | ||||||||||||
Top 20 MSAs | 5,348,042 | 76.7 | 17,882 | 397,633 | 75.6 | ||||||||||||
Additional Top MSAs | 1,198,886 | 17.2 | 4,527 | 92,364 | 17.5 | ||||||||||||
Total Key Markets & Top 75 MSAs | $ | 6,546,928 | 93.9 | % | 22,409 | $ | 489,997 | 93.1 | % | ||||||||
(1) Amounts presented in thousands. | |||||||||||||||||
(2) Annualized base rent is calculated by multiplying contractual base rent as of the end of the year by 12 (excluding the impact of abatements, concessions, and straight-line rent). |
Key Markets | Annualized Base Rent (1)(2) | Percent of Annualized Base Rent | Total GLA (1) | Percent of Portfolio | Investment (1) | Percent of Investment | ||||||||||||||||||||||||||||||||
Dallas, TX | $ | 57,240 | 9.8 | % | 2,209 | 8.5 | % | $ | 914,237 | 11.7 | % | |||||||||||||||||||||||||||
Houston, TX | 37,200 | 6.4 | 1,934 | 7.4 | 534,869 | 6.8 | ||||||||||||||||||||||||||||||||
Boston, MA | 36,346 | 6.2 | 965 | 3.7 | 397,693 | 5.1 | ||||||||||||||||||||||||||||||||
Miami, FL | 31,417 | 5.4 | 1,327 | 5.1 | 358,449 | 4.6 | ||||||||||||||||||||||||||||||||
Atlanta, GA | 27,290 | 4.7 | 1,208 | 4.6 | 361,600 | 4.6 | ||||||||||||||||||||||||||||||||
Indianapolis, IN | 26,901 | 4.6 | 1,396 | 5.4 | 281,768 | 3.6 | ||||||||||||||||||||||||||||||||
Phoenix, AZ | 25,218 | 4.3 | 1,313 | 5.0 | 267,781 | 3.4 | ||||||||||||||||||||||||||||||||
Hartford/New Haven, CT | 25,215 | 4.3 | 1,187 | 4.5 | 347,104 | 4.4 | ||||||||||||||||||||||||||||||||
Tampa, FL | 24,548 | 4.2 | 954 | 3.7 | 347,764 | 4.4 | ||||||||||||||||||||||||||||||||
Raleigh, NC | 20,743 | 3.5 | 885 | 3.4 | 250,858 | 3.2 | ||||||||||||||||||||||||||||||||
Pittsburgh, PA | 20,063 | 3.4 | 1,094 | 4.2 | 148,612 | 1.9 | ||||||||||||||||||||||||||||||||
Charlotte, NC | 18,220 | 3.1 | 927 | 3.6 | 216,037 | 2.8 | ||||||||||||||||||||||||||||||||
Orange County/Los Angeles, CA | 17,285 | 3.0 | 718 | 2.7 | 326,070 | 4.2 | ||||||||||||||||||||||||||||||||
New York, NY | 16,019 | 2.7 | 615 | 2.4 | 256,144 | 3.3 | ||||||||||||||||||||||||||||||||
Albany, NY | 14,955 | 2.6 | 833 | 3.2 | 170,071 | 2.2 | ||||||||||||||||||||||||||||||||
Chicago, IL | 13,706 | 2.4 | 454 | 1.7 | 231,178 | 3.0 | ||||||||||||||||||||||||||||||||
Denver, CO | 13,471 | 2.3 | 608 | 2.3 | 265,807 | 3.4 | ||||||||||||||||||||||||||||||||
Orlando, FL | 12,667 | 2.2 | 513 | 2.0 | 156,300 | 2.0 | ||||||||||||||||||||||||||||||||
Austin, TX | 9,182 | 1.6 | 409 | 1.6 | 164,425 | 2.1 | ||||||||||||||||||||||||||||||||
El Paso, TX | 9,039 | 1.5 | 476 | 1.8 | 121,409 | 1.5 | ||||||||||||||||||||||||||||||||
Top 20 MSAs | 456,725 | 78.2 | 20,025 | 76.8 | 6,118,176 | 78.2 | ||||||||||||||||||||||||||||||||
Additional Top MSAs | 97,149 | 16.6 | 4,604 | 17.7 | 1,310,407 | 16.8 | ||||||||||||||||||||||||||||||||
Total Key Markets in Top 75 MSAs | $ | 553,874 | 94.8 | % | 24,629 | 94.5 | % | $ | 7,428,583 | 95.0 | % | |||||||||||||||||||||||||||
(1) Amounts presented in thousands. | ||||||||||||||||||||||||||||||||||||||
(2) Annualized base rent is calculated by multiplying contractual base rent as of the end of the year by 12 (excluding the impact of abatements, concessions, and straight-line rent). |
Expiration (1) | Number of Expiring Leases | Annualized Base Rent of Expiring Leases (2)(3) | Percent of Total Annualized Base Rent | Total GLA of Expiring Leases (2) | Percent of GLA of Expiring Leases | |||||||||||||||||||||||||||
Month-to-month | 121 | $ | 6,915 | 1.2 | % | 245 | 1.0 | % | ||||||||||||||||||||||||
2022 | 662 | 57,635 | 9.9 | 2,097 | 9.0 | |||||||||||||||||||||||||||
2023 | 592 | 61,494 | 10.5 | 2,564 | 11.0 | |||||||||||||||||||||||||||
2024 | 572 | 69,928 | 12.0 | 2,713 | 11.7 | |||||||||||||||||||||||||||
2025 | 426 | 55,980 | 9.6 | 2,239 | 9.6 | |||||||||||||||||||||||||||
2026 | 469 | 50,555 | 8.6 | 2,344 | 10.1 | |||||||||||||||||||||||||||
2027 | 309 | 68,387 | 11.7 | 2,597 | 11.2 | |||||||||||||||||||||||||||
2028 | 175 | 35,001 | 6.0 | 1,405 | 6.0 | |||||||||||||||||||||||||||
2029 | 236 | 44,570 | 7.6 | 1,816 | 7.8 | |||||||||||||||||||||||||||
2030 | 110 | 30,808 | 5.3 | 1,183 | 5.1 | |||||||||||||||||||||||||||
2031 | 68 | 23,265 | 4.0 | 1,112 | 4.8 | |||||||||||||||||||||||||||
Thereafter | 281 | 79,812 | 13.6 | 2,944 | 12.7 | |||||||||||||||||||||||||||
Total | 4,021 | $ | 584,350 | 100 | % | 23,259 | 100 | % | ||||||||||||||||||||||||
(1) Leases scheduled to expire on December 31 of a given year are included within that year in the table. | ||||||||||||||||||||||||||||||||
(2) Amounts presented in thousands. | ||||||||||||||||||||||||||||||||
(3) Annualized base rent is calculated by multiplying contractual base rent as of the end of the year by 12 (excluding the impact of abatements, concessions, and straight-line rent). |
Expiration (1) | Number of Expiring Leases | Total GLA of Expiring Leases (2) | Percent of GLA of Expiring Leases | Annualized Base Rent of Expiring Leases (2)(3) | Percent of Total Annualized Base Rent | |||||||||||
Month-to-month | 158 | 323 | 1.5 | % | $ | 7,210 | 1.4 | % | ||||||||
2018 | 531 | 2,021 | 9.1 | 46,044 | 8.8 | |||||||||||
2019 | 531 | 2,377 | 10.7 | 61,966 | 11.8 | |||||||||||
2020 | 440 | 1,978 | 8.9 | 47,344 | 9.0 | |||||||||||
2021 | 502 | 2,577 | 11.7 | 56,825 | 10.8 | |||||||||||
2022 | 388 | 2,226 | 10.1 | 52,832 | 10.0 | |||||||||||
2023 | 194 | 1,506 | 6.8 | 30,684 | 5.8 | |||||||||||
2024 | 168 | 1,792 | 8.1 | 40,572 | 7.7 | |||||||||||
2025 | 144 | 1,001 | 4.5 | 21,544 | 4.1 | |||||||||||
2026 | 133 | 1,082 | 4.9 | 21,825 | 4.1 | |||||||||||
2027 | 147 | 2,042 | 9.2 | 56,350 | 10.7 | |||||||||||
Thereafter | 197 | 3,214 | 14.5 | 83,082 | 15.8 | |||||||||||
Total | 3,533 | 22,139 | 100 | % | $ | 526,278 | 100 | % | ||||||||
(1) Leases scheduled to expire on December 31 of a given year are included within that year in the table. | ||||||||||||||||
(2) Amounts presented in thousands. | ||||||||||||||||
(3) Annualized base rent is calculated by multiplying contractual base rent as of the end of the year by 12 (excluding the impact of abatements, concessions, and straight-line rent). |
State | GLA (1) | Percent of GLA | Annualized Base Rent (1)(2) | Percent of Annualized Base Rent | ||||||||||||||||||||||
Texas | 5,315 | 20.4 | % | $ | 118,777 | 20.3 | % | |||||||||||||||||||
Florida | 3,093 | 11.9 | 76,638 | 13.1 | ||||||||||||||||||||||
North Carolina | 1,812 | 6.9 | 38,963 | 6.7 | ||||||||||||||||||||||
Massachusetts | 965 | 3.7 | 36,346 | 6.2 | ||||||||||||||||||||||
Indiana | 1,811 | 7.0 | 34,087 | 5.8 | ||||||||||||||||||||||
Georgia | 1,280 | 4.9 | 30,024 | 5.1 | ||||||||||||||||||||||
New York | 1,390 | 5.3 | 29,155 | 5.0 | ||||||||||||||||||||||
Pennsylvania | 1,454 | 5.6 | 29,072 | 5.0 | ||||||||||||||||||||||
Arizona | 1,529 | 5.9 | 28,932 | 5.0 | ||||||||||||||||||||||
Connecticut | 1,187 | 4.6 | 25,215 | 4.3 | ||||||||||||||||||||||
California | 992 | 3.8 | 23,334 | 4.0 | ||||||||||||||||||||||
Ohio | 932 | 3.6 | 16,757 | 2.9 | ||||||||||||||||||||||
Colorado | 708 | 2.7 | 14,892 | 2.5 | ||||||||||||||||||||||
Illinois | 454 | 1.7 | 13,706 | 2.3 | ||||||||||||||||||||||
Missouri | 355 | 1.4 | 9,694 | 1.7 | ||||||||||||||||||||||
South Carolina | 377 | 1.4 | 8,745 | 1.5 | ||||||||||||||||||||||
Wisconsin | 368 | 1.4 | 7,084 | 1.2 | ||||||||||||||||||||||
Alabama | 319 | 1.2 | 6,456 | 1.1 | ||||||||||||||||||||||
Michigan | 203 | 0.8 | 5,194 | 0.9 | ||||||||||||||||||||||
Maryland | 181 | 0.7 | 4,834 | 0.8 | ||||||||||||||||||||||
Tennessee | 176 | 0.7 | 4,578 | 0.8 | ||||||||||||||||||||||
Hawaii | 146 | 0.6 | 4,021 | 0.7 | ||||||||||||||||||||||
Virginia | 158 | 0.6 | 3,607 | 0.6 | ||||||||||||||||||||||
Utah | 159 | 0.6 | 2,911 | 0.5 | ||||||||||||||||||||||
New Mexico | 141 | 0.5 | 2,365 | 0.4 | ||||||||||||||||||||||
Oklahoma | 186 | 0.7 | 2,294 | 0.4 | ||||||||||||||||||||||
New Jersey | 57 | 0.2 | 1,819 | 0.3 | ||||||||||||||||||||||
Mississippi | 80 | 0.3 | 1,591 | 0.3 | ||||||||||||||||||||||
Nevada | 73 | 0.3 | 1,547 | 0.3 | ||||||||||||||||||||||
Idaho | 83 | 0.3 | 1,178 | 0.2 | ||||||||||||||||||||||
Oregon | 21 | 0.1 | 314 | 0.1 | ||||||||||||||||||||||
Minnesota | 50 | 0.2 | 220 | — | ||||||||||||||||||||||
Total | 26,055 | 100 | % | $ | 584,350 | 100 | % | |||||||||||||||||||
(1) Amounts presented in thousands. | ||||||||||||||||||||||||||
(2) Annualized base rent is calculated by multiplying contractual base rent as of the end of the year by 12 (excluding the impact of abatements, concessions, and straight-line rent). |
State | GLA (1) | Percent of GLA | Annualized Base Rent (1)(2) | Percent of Annualized Base Rent | |||||||||
Texas | 4,515 | 18.7 | % | $ | 99,671 | 18.9 | % | ||||||
Florida | 2,748 | 11.4 | 62,203 | 11.8 | |||||||||
Indiana | 1,811 | 7.5 | 31,882 | 6.1 | |||||||||
Massachusetts | 1,013 | 4.2 | 31,550 | 6.0 | |||||||||
Arizona | 1,530 | 6.3 | 28,442 | 5.4 | |||||||||
Georgia | 1,160 | 4.8 | 25,931 | 4.9 | |||||||||
South Carolina | 1,285 | 5.3 | 24,283 | 4.6 | |||||||||
Pennsylvania | 1,305 | 5.4 | 23,777 | 4.5 | |||||||||
North Carolina | 942 | 3.9 | 22,543 | 4.3 | |||||||||
New York | 1,108 | 4.6 | 22,210 | 4.2 | |||||||||
Connecticut | 969 | 4.0 | 20,935 | 4.0 | |||||||||
Colorado | 538 | 2.2 | 17,193 | 3.3 | |||||||||
California | 703 | 2.9 | 17,041 | 3.2 | |||||||||
Ohio | 761 | 3.2 | 14,267 | 2.7 | |||||||||
Tennessee | 621 | 2.6 | 12,581 | 2.4 | |||||||||
Illinois | 382 | 1.6 | 11,237 | 2.1 | |||||||||
Missouri | 355 | 1.5 | 9,313 | 1.8 | |||||||||
Wisconsin | 368 | 1.5 | 7,491 | 1.4 | |||||||||
Alabama | 319 | 1.3 | 6,373 | 1.2 | |||||||||
Michigan | 203 | 0.8 | 5,457 | 1.0 | |||||||||
Oklahoma | 186 | 0.8 | 4,893 | 0.9 | |||||||||
Maryland | 181 | 0.8 | 4,591 | 0.9 | |||||||||
Hawaii | 143 | 0.6 | 3,676 | 0.7 | |||||||||
New Mexico | 162 | 0.7 | 3,544 | 0.7 | |||||||||
Virginia | 164 | 0.7 | 3,115 | 0.6 | |||||||||
New Hampshire | 72 | 0.3 | 2,119 | 0.4 | |||||||||
Mississippi | 80 | 0.3 | 1,887 | 0.4 | |||||||||
Utah | 112 | 0.5 | 1,877 | 0.4 | |||||||||
Kansas | 67 | 0.3 | 1,543 | 0.3 | |||||||||
Minnesota | 158 | 0.7 | 1,472 | 0.3 | |||||||||
New Jersey | 57 | 0.2 | 1,421 | 0.3 | |||||||||
Nevada | 73 | 0.3 | 1,218 | 0.2 | |||||||||
Oregon | 23 | 0.1 | 542 | 0.1 | |||||||||
Total | 24,114 | 100 | % | $ | 526,278 | 100 | % | ||||||
(1) Amounts presented in thousands. | |||||||||||||
(2) Annualized base rent is calculated by multiplying contractual base rent as of the end of the year by 12 (excluding the impact of abatements, concessions, and straight-line rent). |
2017 | High | Low | Dividends Declared Per Share | |||||||||
First Quarter | $ | 32.37 | $ | 28.61 | $ | 0.300 | ||||||
Second Quarter | 33.00 | 29.23 | 0.300 | |||||||||
Third Quarter | 31.87 | 29.11 | 0.305 | |||||||||
Fourth Quarter | 31.69 | 29.21 | 0.305 | |||||||||
Total | $ | 1.210 |
2016 | High | Low | Dividends Declared Per Share | |||||||||
First Quarter | $ | 29.42 | $ | 25.90 | $ | 0.295 | ||||||
Second Quarter | 32.57 | 27.99 | 0.295 | |||||||||
Third Quarter | 34.64 | 31.38 | 0.300 | |||||||||
Fourth Quarter | 32.60 | 26.34 | 0.300 | |||||||||
Total | $ | 1.190 |
Period | Total Number of Shares Purchased (1) (2) | Average Price Paid per Share (1) (2) | Total Number of Shares Purchased as Part of Publicly Announced Plan or Program | Maximum Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs | ||||||||||||||||||||||
October 1, 2021 to October 31, 2021 | 97 | $ | 32.96 | — | — | |||||||||||||||||||||
November 1, 2021 to November 30, 2021 | 506 | 33.39 | — | — | ||||||||||||||||||||||
December 1, 2021 to December 31, 2021 | 160 | 33.25 | — | — | ||||||||||||||||||||||
(1) Purchases represent shares of common stock withheld by us to satisfy withholding obligations on the vesting of restricted shares. The price paid per share was the then applicable closing price of our common stock on the NYSE. | ||||||||||||||||||||||||||
(2) For each share of common stock redeemed by HTA, HTALP redeems a corresponding number of OP Units in the HTALP operating partnership. Therefore, the OP Units in the HTALP operating partnership repurchased by HTALP are the same as the shares of common stock repurchased by HTA as shown above. |
Year Ended December 31, | |||||||||||||||||||||||||||||
(In thousands, except per share data) | 2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||||||||||
Balance Sheet Data as of December 31: | |||||||||||||||||||||||||||||
Real estate investments, net | $ | 6,167,829 | $ | 6,110,165 | $ | 6,045,801 | $ | 5,665,621 | $ | 5,947,874 | |||||||||||||||||||
Total assets | 6,889,689 | 6,790,692 | 6,638,749 | 6,188,476 | 6,449,582 | ||||||||||||||||||||||||
Debt | 3,028,122 | 3,026,999 | 2,749,775 | 2,541,232 | 2,781,031 | ||||||||||||||||||||||||
Non-controlling interests | 86,712 | 60,680 | 72,635 | 78,890 | 84,666 | ||||||||||||||||||||||||
Total equity | 3,344,316 | 3,234,919 | 3,430,644 | 3,334,914 | 3,363,448 | ||||||||||||||||||||||||
Statement of Operations Data: | |||||||||||||||||||||||||||||
Total revenues | $ | 767,073 | $ | 738,965 | $ | 692,040 | $ | 696,426 | $ | 613,990 | |||||||||||||||||||
Rental expenses | 236,850 | 226,859 | 211,479 | 220,617 | 192,147 | ||||||||||||||||||||||||
Net income attributable to common stockholders | 98,016 | 52,618 | 30,154 | 213,463 | 63,916 | ||||||||||||||||||||||||
Net income attributable to common stockholders per share - basic | 0.45 | 0.24 | 0.15 | 1.04 | 0.35 | ||||||||||||||||||||||||
Net income attributable to common stockholders per share - diluted | 0.44 | 0.24 | 0.14 | 1.02 | 0.34 | ||||||||||||||||||||||||
Statement of Cash Flows Data: | |||||||||||||||||||||||||||||
Cash flows provided by operating activities | $ | 385,616 | $ | 387,962 | $ | 340,394 | $ | 337,396 | $ | 307,543 | |||||||||||||||||||
Cash flows (used in) provided by investing activities | (399,855) | (319,260) | (667,289) | 176,309 | (2,455,096) | ||||||||||||||||||||||||
Cash flows (used in) provided by financing activities | (47,457) | 12,447 | 230,981 | (498,735) | 2,241,068 | ||||||||||||||||||||||||
Other Data: | |||||||||||||||||||||||||||||
Dividends declared to stockholders | $ | 286,040 | $ | 277,626 | $ | 260,593 | $ | 253,699 | $ | 227,024 | |||||||||||||||||||
Dividends declared per share | 1.29 | 1.27 | 1.25 | 1.23 | 1.21 | ||||||||||||||||||||||||
Dividends paid in cash to stockholders | 281,820 | 275,816 | 256,117 | 252,651 | 207,087 | ||||||||||||||||||||||||
FFO attributable to common stockholders (1) | 386,386 | 344,699 | 319,738 | 335,565 | 284,226 | ||||||||||||||||||||||||
Normalized FFO attributable to common stockholders (1) | 391,810 | 379,311 | 344,272 | 340,400 | 301,957 | ||||||||||||||||||||||||
NOI (2) | 530,223 | 512,106 | 480,561 | 475,809 | 421,843 | ||||||||||||||||||||||||
(1) For additional information on FFO and Normalized FFO, see Item 7 - Management’s Discussion and Analysis of Financial Condition and Results of Operations, which includes a reconciliation to net income or loss attributable to common stockholders and an explanation of why we present these non-GAAP financial measures. | |||||||||||||||||||||||||||||
(2) For additional information on NOI, see Item 7 - Management’s Discussion and Analysis of Financial Condition and Results of Operations, which includes a reconciliation to net income or loss attributable to common stockholders and an explanation of why we present this non-GAAP financial measure. |
December 31, | |||||||||||||||||||
(In thousands) | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||
Balance Sheet Data: | |||||||||||||||||||
Real estate investments, net | $ | 5,947,874 | $ | 3,503,020 | $ | 2,959,468 | $ | 2,822,844 | $ | 2,526,991 | |||||||||
Total assets (1) | 6,449,582 | 3,747,844 | 3,172,300 | 3,031,384 | 2,744,666 | ||||||||||||||
Debt (1) | 2,781,031 | 1,768,905 | 1,590,696 | 1,402,195 | 1,206,573 | ||||||||||||||
Noncontrolling interests | 84,666 | 93,143 | 27,534 | 29,282 | 12,543 | ||||||||||||||
Total equity | 3,363,448 | 1,780,417 | 1,406,958 | 1,476,421 | 1,399,749 |
Year Ended December 31, | |||||||||||||||||||
(In thousands, except per share data) | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||
Statement of Operations Data: | |||||||||||||||||||
Total revenues (2) | $ | 613,990 | $ | 460,928 | $ | 403,822 | $ | 371,505 | $ | 321,601 | |||||||||
Rental expenses (2) | 192,147 | 143,751 | 123,390 | 113,508 | 97,316 | ||||||||||||||
Net income attributable to common stockholders | 63,916 | 45,912 | 32,931 | 45,371 | 24,261 | ||||||||||||||
Net income attributable to common stockholders per share - basic (3) | 0.35 | 0.34 | 0.26 | 0.38 | 0.21 | ||||||||||||||
Net income attributable to common stockholders per share - diluted (3) | 0.34 | 0.33 | 0.26 | 0.37 | 0.21 | ||||||||||||||
Statement of Cash Flows Data: | |||||||||||||||||||
Cash flows provided by operating activities | $ | 307,543 | $ | 203,695 | $ | 191,095 | $ | 168,499 | $ | 147,824 | |||||||||
Cash flows used in investing activities (4) | (2,455,096 | ) | (608,393 | ) | (274,171 | ) | (257,017 | ) | (374,209 | ) | |||||||||
Cash flows provided by financing activities | 2,241,068 | 400,781 | 80,826 | 83,535 | 229,001 | ||||||||||||||
Other Data: | |||||||||||||||||||
Dividends declared to stockholders | $ | 227,024 | $ | 164,221 | $ | 147,539 | $ | 139,355 | $ | 132,680 | |||||||||
Dividends declared per share (3) | 1.21 | 1.19 | 1.17 | 1.16 | 1.15 | ||||||||||||||
Dividends paid in cash to stockholders | 207,087 | 159,174 | 146,372 | 137,158 | 129,360 | ||||||||||||||
FFO attributable to common stockholders (5) | 284,226 | 215,570 | 188,206 | 157,746 | 145,908 | ||||||||||||||
Normalized FFO attributable to common stockholders (5) | 301,957 | 225,221 | 195,920 | 176,639 | 147,834 | ||||||||||||||
NOI (6) | 421,843 | 317,177 | 280,432 | 257,997 | 224,285 | ||||||||||||||
(1) The amounts for 2013-2014 differ from amounts previously reported in our Annual Report for the years ended December 31, 2013 and 2014, as a result of the retrospective presentation of the early adoption of ASU 2015-03 and 2015-15 as of December 31, 2015. | |||||||||||||||||||
(2) The amount for 2013 differs from the amount previously reported in our Annual Report for the year ended December 31, 2013, as a result of discontinued operations of one property classified as held for sale in 2013. During 2014, this property was reclassified out of held for sale and the results of operations were included within the results of operating properties for all periods presented. | |||||||||||||||||||
(3) The amount for 2013 has been adjusted retroactively to reflect the reverse stock split effective on December 31, 2014. | |||||||||||||||||||
(4) The amounts for 2013-2016 differ from amounts previously reported in our Annual Report for the years ended December 31, 2013, 2014, 2015, and 2016, as a result of the retrospective presentation of the early adoption of ASU 2016-18 as of January 1, 2017. | |||||||||||||||||||
(5) For additional information on FFO and Normalized FFO, see Item 7 - Management’s Discussion and Analysis of Financial Condition and Results of Operations, which includes a reconciliation to net income or loss attributable to common stockholders and an explanation of why we present these non-GAAP financial measures. | |||||||||||||||||||
(6) For additional information on NOI, see Item 7 - Management’s Discussion and Analysis of Financial Condition and Results of Operations, which includes a reconciliation to net income or loss attributable to common stockholders and an explanation of why we present this non-GAAP financial measure. |
Year Ended December 31, | |||||||||||||||||||||||||||||
(In thousands, except per unit data) | 2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||||||||||
Balance Sheet Data as of December 31: | |||||||||||||||||||||||||||||
Real estate investments, net | $ | 6,167,829 | $ | 6,110,165 | $ | 6,045,801 | $ | 5,665,621 | $ | 5,947,874 | |||||||||||||||||||
Total assets | 6,889,689 | 6,790,692 | 6,638,749 | 6,188,476 | 6,449,582 | ||||||||||||||||||||||||
Debt | 3,028,122 | 3,026,999 | 2,749,775 | 2,541,232 | 2,781,031 | ||||||||||||||||||||||||
Total partners’ capital | 3,344,316 | 3,234,919 | 3,430,644 | 3,334,914 | 3,363,448 | ||||||||||||||||||||||||
Statement of Operations Data: | |||||||||||||||||||||||||||||
Total revenues | $ | 767,073 | $ | 738,965 | $ | 692,040 | $ | 696,426 | $ | 613,990 | |||||||||||||||||||
Rental expenses | 236,850 | 226,859 | 211,479 | 220,617 | 192,147 | ||||||||||||||||||||||||
Net income attributable to common OP unitholders | 99,784 | 53,508 | 30,692 | 217,537 | 65,454 | ||||||||||||||||||||||||
Net income attributable to common OP unitholders per unit - basic | 0.45 | 0.24 | 0.15 | 1.04 | 0.35 | ||||||||||||||||||||||||
Net income attributable to common OP unitholders per unit - diluted | 0.45 | 0.24 | 0.15 | 1.04 | 0.35 | ||||||||||||||||||||||||
Statement of Cash Flows Data: | |||||||||||||||||||||||||||||
Cash flows provided by operating activities | $ | 385,616 | $ | 387,962 | $ | 340,394 | $ | 337,396 | $ | 307,543 | |||||||||||||||||||
Cash flows (used in) provided by investing activities | (399,855) | (319,260) | (667,289) | 176,309 | (2,455,096) | ||||||||||||||||||||||||
Cash flows (used in) provided by financing activities | (47,457) | 12,447 | 230,981 | (498,735) | 2,241,068 | ||||||||||||||||||||||||
Other Data: | |||||||||||||||||||||||||||||
Distributions declared to general partner | $ | 286,040 | $ | 277,626 | $ | 260,593 | $ | 253,699 | $ | 227,024 | |||||||||||||||||||
Distributions declared per unit | 1.29 | 1.27 | 1.25 | 1.23 | 1.21 | ||||||||||||||||||||||||
Distributions paid in cash to general partner | 281,820 | 275,816 | 256,117 | 252,651 | 207,087 | ||||||||||||||||||||||||
FFO attributable to common OP Unitholders (1) | 388,154 | 345,589 | 320,276 | 339,639 | 285,764 | ||||||||||||||||||||||||
Normalized FFO attributable to common OP Unitholders (1) | 391,810 | 379,311 | 344,272 | 340,400 | 301,957 | ||||||||||||||||||||||||
NOI (2) | 530,223 | 512,106 | 480,561 | 475,809 | 421,843 | ||||||||||||||||||||||||
(1) For additional information on FFO and Normalized FFO, see Item 7 - Management’s Discussion and Analysis of Financial Condition and Results of Operations, which includes a reconciliation to net income or loss attributable to common unitholders and an explanation of why we present these non-GAAP financial measures. | |||||||||||||||||||||||||||||
(2) For additional information on NOI, see Item 7 - Management’s Discussion and Analysis of Financial Condition and Results of Operations, which includes a reconciliation to net income or loss attributable to common unitholders and an explanation of why we present this non-GAAP financial measure. |
December 31, | |||||||||||||||||||
(In thousands) | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||
Balance Sheet Data: | |||||||||||||||||||
Real estate investments, net | $ | 5,947,874 | $ | 3,503,020 | $ | 2,959,468 | $ | 2,822,844 | $ | 2,526,991 | |||||||||
Total assets (1) | 6,449,582 | 3,747,844 | 3,172,300 | 3,031,384 | 2,744,666 | ||||||||||||||
Debt (1) | 2,781,031 | 1,768,905 | 1,590,696 | 1,402,195 | 1,206,573 | ||||||||||||||
Total partners’ capital | 3,363,448 | 1,780,417 | 1,406,958 | 1,476,421 | 1,401,294 |
Year Ended December 31, | |||||||||||||||||||
(In thousands, except per unit data) | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||
Statement of Operations Data: | |||||||||||||||||||
Total revenues (2) | $ | 613,990 | $ | 460,928 | $ | 403,822 | $ | 371,505 | $ | 321,601 | |||||||||
Rental expenses (2) | 192,147 | 143,751 | 123,390 | 113,508 | 97,316 | ||||||||||||||
Net income attributable to common unitholders | 65,454 | 47,227 | 33,445 | 45,861 | 24,633 | ||||||||||||||
Net income attributable to common unitholders per unit - basic (3) | 0.35 | 0.34 | 0.26 | 0.38 | 0.21 | ||||||||||||||
Net income attributable to common unitholders per unit - diluted (3) | 0.35 | 0.34 | 0.26 | 0.38 | 0.21 | ||||||||||||||
Statement of Cash Flows Data: | |||||||||||||||||||
Cash flows provided by operating activities | $ | 307,543 | $ | 203,695 | $ | 191,095 | $ | 168,499 | $ | 147,824 | |||||||||
Cash flows used in investing activities (4) | (2,455,096 | ) | (608,393 | ) | (274,171 | ) | (257,017 | ) | (374,209 | ) | |||||||||
Cash flows provided by financing activities | 2,241,068 | 400,781 | 80,826 | 83,535 | 229,001 | ||||||||||||||
Other Data: | |||||||||||||||||||
Distributions declared to general partner | $ | 227,024 | $ | 164,221 | $ | 147,539 | $ | 139,355 | $ | 132,680 | |||||||||
Distributions declared per unit (3) | 1.21 | 1.19 | 1.17 | 1.16 | 1.15 | ||||||||||||||
Distributions paid in cash to general partner | 207,087 | 159,174 | 146,372 | 137,158 | 129,360 | ||||||||||||||
FFO attributable to common unitholders (5) | 285,764 | 216,885 | 188,720 | 158,236 | 146,280 | ||||||||||||||
Normalized FFO attributable to common unitholders (5) | 301,957 | 225,221 | 195,920 | 176,639 | 147,835 | ||||||||||||||
NOI (6) | 421,843 | 317,177 | 280,432 | 257,997 | 224,285 | ||||||||||||||
(1) The amounts for 2013-2014 differ from amounts previously reported in our Annual Report for the years ended December 31, 2013 and 2014, as a result of the retrospective presentation of the early adoption of ASU 2015-03 and 2015-15 as of December 31, 2015. | |||||||||||||||||||
(2) The amount for 2013 differs from the amount previously reported in our Annual Report for the year ended December 31, 2013, as a result of discontinued operations of one property classified as held for sale in 2013. During 2014, this property was reclassified out of held for sale and the results of operations were included within the results of operating properties for all periods presented. | |||||||||||||||||||
(3) The amount for 2013 has been adjusted retroactively to reflect the reverse stock split effective on December 31, 2014. | |||||||||||||||||||
(4) The amounts for 2013-2016 differ from amounts previously reported in our Annual Report for the years ended December 31, 2013, 2014, 2015, and 2016, as a result of the retrospective presentation of the early adoption of ASU 2016-18 as of January 1, 2017. | |||||||||||||||||||
(5) For additional information on FFO and Normalized FFO, see Item 7 - Management’s Discussion and Analysis of Financial Condition and Results of Operations, which includes a reconciliation to net income or loss attributable to common unitholders and an explanation of why we present these non-GAAP financial measures. | |||||||||||||||||||
(6) For additional information on NOI, see Item 7 - Management’s Discussion and Analysis of Financial Condition and Results of Operations, which includes a reconciliation to net income or loss attributable to common unitholders and an explanation of why we present this non-GAAP financial measure. |
Year Ended December 31, | |||||||||||||||||||||||
2021 | 2020 | Change | % Change | ||||||||||||||||||||
Revenues: | |||||||||||||||||||||||
Rental income | $ | 763,923 | $ | 738,414 | $ | 25,509 | 3.5 | % | |||||||||||||||
Interest and other operating income | 3,150 | 551 | 2,599 | NM | |||||||||||||||||||
Total revenues | 767,073 | 738,965 | 28,108 | 3.8 | |||||||||||||||||||
Expenses: | |||||||||||||||||||||||
Rental | 236,850 | 226,859 | 9,991 | 4.4 | |||||||||||||||||||
General and administrative | 49,744 | 42,969 | 6,775 | 15.8 | |||||||||||||||||||
Transaction | 372 | 965 | (593) | (61.5) | |||||||||||||||||||
Depreciation and amortization | 303,834 | 303,828 | 6 | — | |||||||||||||||||||
Interest expense | 92,762 | 94,613 | (1,851) | (2.0) | |||||||||||||||||||
Impairment | 22,938 | — | 22,938 | NM | |||||||||||||||||||
Total expenses | 706,500 | 669,234 | 37,266 | 5.6 | |||||||||||||||||||
Gain (loss) on sale of real estate, net | 39,228 | 9,590 | 29,638 | NM | |||||||||||||||||||
Loss on sale of corporate asset, net | (2,106) | — | (2,106) | NM | |||||||||||||||||||
Loss on extinguishment of debt, net | — | (27,726) | 27,726 | NM | |||||||||||||||||||
Income from unconsolidated joint venture | 1,604 | 1,612 | (8) | (0.5) | |||||||||||||||||||
Other income | 485 | 301 | 184 | 61.1 | |||||||||||||||||||
Net income | $ | 99,784 | $ | 53,508 | $ | 46,276 | 86.5 | % | |||||||||||||||
NOI | $ | 530,223 | $ | 512,106 | $ | 18,117 | 3.5 | % | |||||||||||||||
Same-Property Cash NOI | $ | 460,792 | $ | 452,972 | $ | 7,820 | 1.7 | % |
Year Ended December 31, | ||||||||||||||
2017 | 2016 | Change | % Change | |||||||||||
Revenues: | ||||||||||||||
Rental income | $ | 612,556 | $ | 460,563 | $ | 151,993 | 33.0 | % | ||||||
Interest and other operating income | 1,434 | 365 | 1,069 | NM | ||||||||||
Total revenues | 613,990 | 460,928 | 153,062 | 33.2 | ||||||||||
Expenses: | ||||||||||||||
Rental | 192,147 | 143,751 | 48,396 | 33.7 | ||||||||||
General and administrative | 33,403 | 28,773 | 4,630 | 16.1 | ||||||||||
Transaction | 5,885 | 6,538 | (653 | ) | (10.0 | ) | ||||||||
Depreciation and amortization | 244,986 | 176,866 | 68,120 | 38.5 | ||||||||||
Impairment | 13,922 | 3,080 | 10,842 | NM | ||||||||||
Total expenses | 490,343 | 359,008 | 131,335 | 36.6 | ||||||||||
Income before other income (expense) | 123,647 | 101,920 | 21,727 | 21.3 | ||||||||||
Interest expense: | ||||||||||||||
Interest related to derivative financial instruments | (1,031 | ) | (2,377 | ) | 1,346 | 56.6 | ||||||||
Gain on change in fair value of derivative financial instruments, net | 884 | 1,344 | (460 | ) | (34.2 | ) | ||||||||
Total interest related to derivative financial instruments, including net change in fair value of derivative financial instruments | (147 | ) | (1,033 | ) | 886 | 85.8 | ||||||||
Interest related to debt | (85,344 | ) | (59,769 | ) | (25,575 | ) | (42.8 | ) | ||||||
Gain on sale of real estate, net | 37,802 | 8,966 | 28,836 | NM | ||||||||||
Loss on extinguishment of debt, net | (11,192 | ) | (3,025 | ) | (8,167 | ) | NM | |||||||
Income from unconsolidated joint venture | 782 | — | 782 | NM | ||||||||||
Other income | 29 | 286 | (257 | ) | (89.9 | ) | ||||||||
Net income | $ | 65,577 | $ | 47,345 | $ | 18,232 | 38.5 | % | ||||||
NOI | $ | 421,843 | $ | 317,177 | $ | 104,666 | 33.0 | % | ||||||
Same-Property Cash NOI | $ | 284,839 | $ | 276,865 | $ | 7,974 | 2.9 | % |
Year Ended December 31, | ||||||||||||||
2016 | 2015 | Change | % Change | |||||||||||
Revenues: | ||||||||||||||
Rental income | $ | 460,563 | $ | 403,553 | $ | 57,010 | 14.1 | % | ||||||
Interest and other operating income | 365 | 269 | 96 | 35.7 | ||||||||||
Total revenues | 460,928 | 403,822 | 57,106 | 14.1 | ||||||||||
Expenses: | ||||||||||||||
Rental | 143,751 | 123,390 | 20,361 | 16.5 | ||||||||||
General and administrative | 28,773 | 25,578 | 3,195 | 12.5 | ||||||||||
Transaction | 6,538 | 4,555 | 1,983 | 43.5 | ||||||||||
Depreciation and amortization | 176,866 | 154,134 | 22,732 | 14.7 | ||||||||||
Impairment | 3,080 | 2,581 | 499 | 19.3 | ||||||||||
Total expenses | 359,008 | 310,238 | 48,770 | 15.7 | ||||||||||
Income before other income (expense) | 101,920 | 93,584 | 8,336 | 8.9 | ||||||||||
Interest expense: | ||||||||||||||
Interest related to derivative financial instruments | (2,377 | ) | (3,140 | ) | 763 | 24.3 | ||||||||
Gain (loss) on change in fair value of derivative financial instruments, net | 1,344 | (769 | ) | 2,113 | NM | |||||||||
Total interest related to derivative financial instruments, including net change in fair value of derivative financial instruments | (1,033 | ) | (3,909 | ) | 2,876 | 73.6 | ||||||||
Interest related to debt | (59,769 | ) | (54,967 | ) | (4,802 | ) | (8.7 | ) | ||||||
Gain on sale of real estate, net | 8,966 | 152 | 8,814 | NM | ||||||||||
(Loss) gain on extinguishment of debt, net | (3,025 | ) | 123 | (3,148 | ) | NM | ||||||||
Other income (expense) | 286 | (1,426 | ) | 1,712 | NM | |||||||||
Net income | $ | 47,345 | $ | 33,557 | $ | 13,788 | 41.1 | % | ||||||
NOI | $ | 317,177 | $ | 280,432 | $ | 36,745 | 13.1 | % | ||||||
Same-Property Cash NOI | $ | 258,307 | $ | 250,973 | $ | 7,334 | 2.9 | % |
Year Ended December 31, | ||||||||||||||
2017 | 2016 | Change | % Change | |||||||||||
Contractual rental income | $ | 589,913 | $ | 445,469 | $ | 144,444 | 32.4 | % | ||||||
Straight-line rent and amortization of above and (below) market leases | 13,695 | 8,118 | 5,577 | 68.7 | ||||||||||
Other rental revenue | 8,948 | 6,976 | 1,972 | 28.3 | ||||||||||
Total rental income | $ | 612,556 | $ | 460,563 | $ | 151,993 | 33.0 | % |
Year Ended December 31, | |||||||||||||||||||||||
2021 | 2020 | Change | % Change | ||||||||||||||||||||
Contractual rental income | $ | 728,218 | $ | 698,962 | $ | 29,256 | 4.2 | % | |||||||||||||||
Straight-line rent and amortization of above and (below) market leases | 19,950 | 24,115 | (4,165) | (17.3) | |||||||||||||||||||
Other rental revenue | 15,755 | 15,337 | 418 | 2.7 | |||||||||||||||||||
Total rental income | $ | 763,923 | $ | 738,414 | $ | 25,509 | 3.5 | % |
Year Ended December 31, | ||||||||||||||
2016 | 2015 | Change | % Change | |||||||||||
Contractual rental income | $ | 445,469 | $ | 390,288 | $ | 55,181 | 14.1 | % | ||||||
Straight-line rent and amortization of above and (below) market leases | 8,118 | 8,120 | (2 | ) | — | |||||||||
Other rental revenue | 6,976 | 5,145 | 1,831 | 35.6 | ||||||||||
Total rental income | $ | 460,563 | $ | 403,553 | $ | 57,010 | 14.1 | % |
Year Ended December 31, | |||||||||||
2017 | 2016 | 2015 | |||||||||
New and renewal leases: | |||||||||||
Average starting base rents | $ | 22.58 | $ | 22.57 | $ | 23.07 | |||||
Average expiring base rents | 22.43 | 22.38 | 23.07 | ||||||||
Square feet of GLA | 2,712,000 | 1,603,000 | 1,000,000 |
Year Ended December 31, | |||||||||||
2021 | 2020 | ||||||||||
New and renewal leases: | |||||||||||
Average starting base rents | $ | 25.04 | $ | 27.04 | |||||||
Average expiring base rents | 21.98 | 25.84 | |||||||||
Square feet of GLA | 2,826 | 3,865 |
Year Ended December 31, | |||||||||||
2021 | 2020 | ||||||||||
New leases: | |||||||||||
Tenant improvements | $ | 35.70 | $ | 38.16 | |||||||
Leasing commissions | 5.96 | 2.86 | |||||||||
Tenant concessions | 7.05 | 3.70 | |||||||||
Renewal leases: | |||||||||||
Tenant improvements | $ | 9.75 | $ | 5.58 | |||||||
Leasing commissions | 2.89 | 2.87 | |||||||||
Tenant concessions | 0.14 | 1.99 |
Year Ended December 31, | |||||||||||
2017 | 2016 | 2015 | |||||||||
New leases: | |||||||||||
Tenant improvements | $ | 17.98 | $ | 23.50 | $ | 25.66 | |||||
Leasing commissions | 1.99 | 3.63 | 4.04 | ||||||||
Tenant concessions | 2.42 | 3.36 | 5.73 | ||||||||
Renewal leases: | |||||||||||
Tenant improvements | $ | 8.15 | $ | 7.34 | $ | 7.35 | |||||
Leasing commissions | 1.50 | 1.57 | 1.27 | ||||||||
Tenant concessions | 1.78 | 1.58 | 1.74 |
Year Ended December 31, | |||||
2017 | 2016 | 2015 | |||
New leases | 6.5 | 6.2 | 7.4 | ||
Renewal leases | 4.8 | 4.7 | 5.7 |
Year Ended December 31, | |||||||||||
2021 | 2020 | ||||||||||
New leases | 6.4 | 7.9 | |||||||||
Renewal leases | 4.9 | 5.4 |
Year Ended December 31, | |||||||||||||||||
2021 | 2020 | ||||||||||||||||
Net income attributable to common stockholders | $ | 98,016 | $ | 52,618 | |||||||||||||
Depreciation and amortization expense related to investments in real estate | 300,605 | 299,722 | |||||||||||||||
Gain on sale of real estate, net | (39,228) | (9,590) | |||||||||||||||
Loss on sale of corporate asset, net | 2,106 | — | |||||||||||||||
Impairment | 22,938 | — | |||||||||||||||
Proportionate share of joint venture depreciation and amortization | 1,949 | 1,949 | |||||||||||||||
FFO attributable to common stockholders | $ | 386,386 | $ | 344,699 | |||||||||||||
Transaction expenses | 372 | 965 | |||||||||||||||
Loss on extinguishment of debt, net | — | 27,726 | |||||||||||||||
Non-controlling income from OP Units included in diluted shares | 1,768 | 890 | |||||||||||||||
Other normalizing adjustments (1) | 3,284 | 5,031 | |||||||||||||||
Normalized FFO attributable to common stockholders | $ | 391,810 | $ | 379,311 | |||||||||||||
Net income attributable to common stockholders per diluted share | $ | 0.44 | $ | 0.24 | |||||||||||||
FFO adjustments per diluted share, net | 1.28 | 1.32 | |||||||||||||||
FFO attributable to common stockholders per diluted share | $ | 1.72 | $ | 1.56 | |||||||||||||
Normalized FFO adjustments per diluted share, net | 0.03 | 0.15 | |||||||||||||||
Normalized FFO attributable to common stockholders per diluted share | $ | 1.75 | $ | 1.71 | |||||||||||||
Weighted average diluted common shares outstanding | 224,215 | 221,666 | |||||||||||||||
(1) For the year ended December 31, 2021, other normalizing adjustments includes the following: costs related to whistleblower investigation of $1,645; CEO search fees of $743; costs related to strategic matters of $387; and corresponding additional board and consulting fees of $509. For the year ended December 31, 2020, other normalizing adjustments includes the following: non-recurring bad debt of $4,672, incremental hazard pay to facilities employees of $314, and incremental personal protective equipment of $45. |
Year Ended December 31, | |||||||||||
2017 | 2016 | 2015 | |||||||||
Net income attributable to common stockholders | $ | 63,916 | $ | 45,912 | $ | 32,931 | |||||
Depreciation and amortization expense related to investments in real estate | 243,221 | 175,544 | 152,846 | ||||||||
Gain on sale of real estate, net | (37,802 | ) | (8,966 | ) | (152 | ) | |||||
Impairment | 13,922 | 3,080 | 2,581 | ||||||||
Proportionate share of joint venture depreciation and amortization | 969 | — | — | ||||||||
FFO attributable to common stockholders | $ | 284,226 | $ | 215,570 | $ | 188,206 | |||||
Transaction expenses (1) | 1,242 | 6,538 | 4,555 | ||||||||
(Gain) loss on change in fair value of derivative financial instruments, net | (884 | ) | (1,344 | ) | 769 | ||||||
Loss (gain) on extinguishment of debt, net | 11,192 | 3,025 | (123 | ) | |||||||
Noncontrolling income from partnership units included in diluted shares | 1,538 | 1,315 | 514 | ||||||||
Other normalizing items, net (2) (3) (4) | 4,643 | 117 | 1,999 | ||||||||
Normalized FFO attributable to common stockholders | $ | 301,957 | $ | 225,221 | $ | 195,920 | |||||
Net income attributable to common stockholders per diluted share | $ | 0.34 | $ | 0.33 | $ | 0.26 | |||||
FFO adjustments per diluted share, net | 1.19 | 1.21 | 1.21 | ||||||||
FFO attributable to common stockholders per diluted share | $ | 1.53 | $ | 1.54 | $ | 1.47 | |||||
Normalized FFO adjustments per diluted share, net | 0.10 | 0.07 | 0.06 | ||||||||
Normalized FFO attributable to common stockholders per diluted share | $ | 1.63 | $ | 1.61 | $ | 1.53 | |||||
Weighted average diluted common shares outstanding | 185,278 | 140,259 | 128,004 | ||||||||
(1) For the year ended December 31, 2017, amounts reflect the prospective presentation of the early adoption of ASU 2017-01 as of January 1, 2017. | |||||||||||
(2) For the year ended December 31, 2017, other normalizing items include $4.6 million of non-incremental costs related to the Duke Acquisition that were included in transaction expenses on HTA’s consolidated statements of operations. | |||||||||||
(3) For the years ended December 31, 2017 and 2016, other normalizing items excludes lease termination fees as they are deemed to be generated in the ordinary course of business. | |||||||||||
(4) For the year ended December 31, 2015, other normalizing items primarily include the acceleration of management fees paid in connection with an acquisition-related management agreement that was entered into at the time of acquisition of our Florida portfolio that was acquired in December 2013. |
Year Ended December 31, | |||||||||||
2017 | 2016 | 2015 | |||||||||
Net income attributable to common unitholders | $ | 65,454 | $ | 47,227 | $ | 33,445 | |||||
Depreciation and amortization expense related to investments in real estate | 243,221 | 175,544 | 152,846 | ||||||||
Gain on sale of real estate, net | (37,802 | ) | (8,966 | ) | (152 | ) | |||||
Impairment | 13,922 | 3,080 | 2,581 | ||||||||
Proportionate share of joint venture depreciation and amortization | 969 | — | — | ||||||||
FFO attributable to common unitholders | $ | 285,764 | $ | 216,885 | $ | 188,720 | |||||
Transaction expenses (1) | 1,242 | 6,538 | 4,555 | ||||||||
(Gain) loss on change in fair value of derivative financial instruments, net | (884 | ) | (1,344 | ) | 769 | ||||||
Loss (gain) on extinguishment of debt, net | 11,192 | 3,025 | (123 | ) | |||||||
Other normalizing items, net (2) | 4,643 | 117 | 1,999 | ||||||||
Normalized FFO attributable to common unitholders | $ | 301,957 | $ | 225,221 | $ | 195,920 | |||||
Net income attributable to common unitholders per diluted unit | $ | 0.35 | $ | 0.34 | $ | 0.26 | |||||
FFO adjustments per diluted unit, net | 1.19 | 1.21 | 1.21 | ||||||||
FFO attributable to common unitholders per diluted unit | $ | 1.54 | $ | 1.55 | $ | 1.47 | |||||
Normalized FFO adjustments per diluted unit, net | 0.09 | 0.06 | 0.06 | ||||||||
Normalized FFO attributable to common unitholders per diluted unit | $ | 1.63 | $ | 1.61 | $ | 1.53 | |||||
Weighted average diluted common units outstanding | 185,278 | 140,259 | 128,079 | ||||||||
(1) For the year ended December 31, 2017, amounts reflect the prospective presentation of the early adoption of ASU 2017-01 as of January 1, 2017. | |||||||||||
(2) For the year ended December 31, 2017, other normalizing items include $4.6 million of non-incremental costs related to the Duke Acquisition that were included in transaction expenses on HTALP’s consolidated statements of operations. | |||||||||||
(3) For the years ended December 31, 2017 and 2016, other normalizing items excludes lease termination fees as they are deemed to be generated in the ordinary course of business. | |||||||||||
(4) For the year ended December 31, 2015, other normalizing items primarily include the acceleration of management fees paid in connection with an acquisition-related management agreement that was entered into at the time of acquisition of our Florida portfolio that was acquired in December 2013. |
Year Ended December 31, | |||||||||||||||||
2021 | 2020 | ||||||||||||||||
Net income attributable to common OP unitholders | $ | 99,784 | $ | 53,508 | |||||||||||||
Depreciation and amortization expense related to investments in real estate | 300,605 | 299,722 | |||||||||||||||
Gain on sale of real estate, net | (39,228) | (9,590) | |||||||||||||||
Loss on sale of corporate asset, net | 2,106 | — | |||||||||||||||
Impairment | 22,938 | — | |||||||||||||||
Proportionate share of joint venture depreciation and amortization | 1,949 | 1,949 | |||||||||||||||
FFO attributable to common OP unitholders | $ | 388,154 | $ | 345,589 | |||||||||||||
Transaction expenses | 372 | 965 | |||||||||||||||
Loss on extinguishment of debt, net | — | 27,726 | |||||||||||||||
Other normalizing adjustments (1) | 3,284 | 5,031 | |||||||||||||||
Normalized FFO attributable to common OP unitholders | $ | 391,810 | $ | 379,311 | |||||||||||||
Net income attributable to common OP unitholders per diluted OP unit | $ | 0.45 | $ | 0.24 | |||||||||||||
FFO adjustments per diluted OP unit, net | 1.28 | 1.32 | |||||||||||||||
FFO attributable to common OP unitholders per diluted OP unit | $ | 1.73 | $ | 1.56 | |||||||||||||
Normalized FFO adjustments per diluted OP unit, net | 0.02 | 0.15 | |||||||||||||||
Normalized FFO attributable to common OP unitholders per diluted OP unit | $ | 1.75 | $ | 1.71 | |||||||||||||
Weighted average diluted common OP units outstanding | 224,215 | 221,666 | |||||||||||||||
(1) For the year ended December 31, 2021, other normalizing adjustments includes the following: costs related to whistleblower investigation of $1,645; CEO search fees of $743; costs related to strategic matters of $387; and corresponding additional board and consulting fees of $509. For the year ended December 31, 2020, other normalizing adjustments includes the following: non-recurring bad debt of $4,672, incremental hazard pay to facilities employees of $314, and incremental personal protective equipment of $45. |
Year Ended December 31, | |||||||||||
2021 | 2020 | ||||||||||
Net income | $ | 99,784 | $ | 53,508 | |||||||
General and administrative expenses | 49,744 | 42,969 | |||||||||
Transaction expenses | 372 | 965 | |||||||||
Depreciation and amortization expense | 303,834 | 303,828 | |||||||||
Impairment | 22,938 | — | |||||||||
Interest expense | 92,762 | 94,613 | |||||||||
Gain on sale of real estate, net | (39,228) | (9,590) | |||||||||
Loss on sale of corporate asset, net | 2,106 | — | |||||||||
Loss on extinguishment of debt, net | — | 27,726 | |||||||||
Income from unconsolidated joint venture | (1,604) | (1,612) | |||||||||
Other income | (485) | (301) | |||||||||
NOI | $ | 530,223 | $ | 512,106 | |||||||
Straight-line rent adjustments, net | (13,883) | (15,971) | |||||||||
Amortization of (below) and above market leases/leasehold interests, net and other GAAP adjustments | (1,899) | (2,722) | |||||||||
Notes receivable interest income | (2,730) | (161) | |||||||||
Other normalizing adjustments (1) | — | 5,031 | |||||||||
Cash NOI | $ | 511,711 | $ | 498,283 |
Year Ended December 31, | |||||||||||
2017 | 2016 | 2015 | |||||||||
Net income | $ | 65,577 | $ | 47,345 | $ | 33,557 | |||||
General and administrative expenses | 33,403 | 28,773 | 25,578 | ||||||||
Transaction expenses (1) | 5,885 | 6,538 | 4,555 | ||||||||
Depreciation and amortization expense | 244,986 | 176,866 | 154,134 | ||||||||
Impairment | 13,922 | 3,080 | 2,581 | ||||||||
Interest expense and net change in fair value of derivative financial instruments | 85,491 | 60,802 | 58,876 | ||||||||
Gain on sale of real estate, net | (37,802 | ) | (8,966 | ) | (152 | ) | |||||
Loss (gain) on extinguishment of debt, net | 11,192 | 3,025 | (123 | ) | |||||||
Income from unconsolidated joint venture | (782 | ) | — | — | |||||||
Other (income) expense | (29 | ) | (286 | ) | 1,426 | ||||||
NOI | $ | 421,843 | $ | 317,177 | $ | 280,432 | |||||
Straight-line rent adjustments, net | (8,637 | ) | (4,159 | ) | (6,917 | ) | |||||
Amortization of (below) and above market leases/leasehold interests, net and lease termination fees | 354 | 682 | 2,317 | ||||||||
Cash NOI | $ | 413,560 | $ | 313,700 | $ | 275,832 | |||||
(1) For the year ended December 31, 2017, transaction costs reflect the prospective presentation of the early adoption of ASU 2017-01 as of January 1, 2017. Additionally, for the year ended December 31, 2017, transaction costs included $4.6 million of non-incremental costs related to the Duke Acquisition. |
Year Ended December 31, | |||||||
2017 | 2016 | ||||||
Cash NOI | $ | 413,560 | $ | 313,700 | |||
Notes receivable interest income | (1,193 | ) | (183 | ) | |||
Non Same-Property Cash NOI | (127,528 | ) | (36,652 | ) | |||
Same-Property Cash NOI (1) | $ | 284,839 | $ | 276,865 | |||
(1) Same-Property includes 295 buildings for the years ended December 31, 2017 and 2016. |
Year Ended December 31, | |||||||
2016 | 2015 | ||||||
Cash NOI | $ | 313,700 | $ | 275,832 | |||
Notes receivable interest income | (183 | ) | — | ||||
Non Same-Property Cash NOI | (55,210 | ) | (24,859 | ) | |||
Same-Property Cash NOI (1) | $ | 258,307 | $ | 250,973 | |||
(1) Same-Property includes 275 buildings for the years ended December 31, 2016 and 2015. |
Year Ended December 31, | |||||||||||
2021 | 2020 | ||||||||||
Cash NOI | $ | 511,711 | $ | 498,283 | |||||||
Acquisitions not owned/operated for all periods presented and disposed properties Cash NOI | (24,401) | (12,133) | |||||||||
Redevelopment Cash NOI | (928) | (4,435) | |||||||||
Intended for sale Cash NOI | (25,590) | (28,743) | |||||||||
Same-Property Cash NOI (2) | $ | 460,792 | $ | 452,972 | |||||||
(1) For the year ended December 31, 2020, other normalizing adjustments includes the following: Non-recurring bad debt of $4,672, incremental hazard pay to facilities employees of $314, and incremental personal protective equipment of $45. | |||||||||||
(2) Same-Property includes 414 buildings for the years ended December 31, 2021 and 2020. |
Year Ended December 31, | Current Year Change | Prior Year Change | |||||||||||||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||||||||||||||
Cash, cash equivalents and restricted cash - beginning of year | $ | 118,765 | $ | 37,616 | $ | 133,530 | $ | 81,149 | $ | (95,914) | |||||||||||||||||||
Net cash provided by operating activities | 385,616 | 387,962 | 340,394 | (2,346) | 47,568 | ||||||||||||||||||||||||
Net cash used in investing activities | (399,855) | (319,260) | (667,289) | (80,595) | 348,029 | ||||||||||||||||||||||||
Net cash (used in) provided by financing activities | (47,457) | 12,447 | 230,981 | (59,904) | (218,534) | ||||||||||||||||||||||||
Cash, cash equivalents and restricted cash - end of year | $ | 57,069 | $ | 118,765 | $ | 37,616 | $ | (61,696) | $ | 81,149 |
Year Ended December 31, | Current Year Change | Prior Year Change | |||||||||||||||||
2017 | 2016 | 2015 | |||||||||||||||||
Cash, cash equivalents and restricted cash - beginning of year (1) | $ | 25,045 | $ | 28,962 | $ | 31,212 | $ | (3,917 | ) | $ | (2,250 | ) | |||||||
Net cash provided by operating activities | 307,543 | 203,695 | 191,095 | 103,848 | 12,600 | ||||||||||||||
Net cash used in investing activities (1) | (2,455,096 | ) | (608,393 | ) | (274,171 | ) | (1,846,703 | ) | (334,222 | ) | |||||||||
Net cash provided by financing activities | 2,241,068 | 400,781 | 80,826 | 1,840,287 | 319,955 | ||||||||||||||
Cash, cash equivalents and restricted cash - end of year (1) | $ | 118,560 | $ | 25,045 | $ | 28,962 | $ | 93,515 | $ | (3,917 | ) | ||||||||
(1) The amounts for 2015 and 2016 differ from amounts previously reported in our Annual Reports for the years ended December 31, 2015 and 2016, as a result of the retrospective presentation of the early adoption of ASU 2016-18 as of January 1, 2017. Additionally the presentation of beginning of year and end of year cash now includes restricted cash as a result of the adoption of ASU 2016-18. |
Payment Due by Period | |||||||||||||||||||
Less than 1 Year | 1-3 Years | 3-5 Years | More than 5 Years | Total | |||||||||||||||
Debt | $ | 102,513 | $ | 254,354 | $ | 768,835 | $ | 1,676,740 | $ | 2,802,442 | |||||||||
Interest (1) | 99,026 | 183,447 | 162,737 | 106,978 | 552,188 | ||||||||||||||
Ground lease and other operating lease obligations | 10,908 | 22,212 | 22,898 | 916,180 | 972,198 | ||||||||||||||
Total | $ | 212,447 | $ | 460,013 | $ | 954,470 | $ | 2,699,898 | $ | 4,326,828 | |||||||||
(1) Interest on variable rate debt is calculated using the forward rates in effect at December 31, 2017 and excludes the impact of our interest rate swaps. |
Payment Due by Period | |||||||||||||||||||||||||||||
Less than 1 Year | 1-3 Years | 3-5 Years | More than 5 Years | Total | |||||||||||||||||||||||||
Debt | $ | — | $ | 200,000 | $ | 900,000 | $ | 1,950,000 | $ | 3,050,000 | |||||||||||||||||||
Interest (1) | 83,190 | 170,538 | 158,088 | 161,275 | 573,091 | ||||||||||||||||||||||||
Ground lease and other operating lease obligations | 11,198 | 22,403 | 21,027 | 637,478 | 692,106 | ||||||||||||||||||||||||
Total | $ | 94,388 | $ | 392,941 | $ | 1,079,115 | $ | 2,748,753 | $ | 4,315,197 | |||||||||||||||||||
(1) Interest on variable rate debt is calculated using the forward rates in effect at December 31, 2021 and excludes the impact of our interest rate swaps. Forward rates do not contemplate the transition of LIBOR to Secured Overnight Financing Rate or other rate to be used in the calculation of interest amounts. Any differences between LIBOR and alternative rates are not deemed to be material. |
Expected Maturity Date | |||||||||||||||||||||||||||
2018 | 2019 | 2020 | 2021 | 2022 | Thereafter | Total | |||||||||||||||||||||
Fixed rate debt | $ | 101,463 | $ | 106,557 | $ | 119,555 | $ | 305,263 | $ | 462,530 | $ | 1,169,156 | $ | 2,264,524 | |||||||||||||
Weighted average interest rate on fixed rate debt (per annum) | 4.08 | % | 4.21 | % | 4.42 | % | 3.41 | % | 3.29 | % | 3.67 | % | 3.63 | % | |||||||||||||
Variable rate debt | $ | 1,050 | $ | 1,119 | $ | 27,123 | $ | 509 | $ | 533 | $ | 507,584 | $ | 537,918 | |||||||||||||
Weighted average interest rate on variable rate debt based on forward rates in effect as of December 31, 2017 (per annum) | 3.47 | % | 3.91 | % | 3.67 | % | 4.77 | % | 4.79 | % | 3.69 | % | 2.93 | % |
Expected Maturity Date | |||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2023 | 2024 | 2025 | 2026 | Thereafter | Total (1) | Fair Value | ||||||||||||||||||||||||||||||||||||||||
Fixed rate debt, gross | $ | — | $ | — | $ | — | $ | — | $ | 600,000 | $ | 1,950,000 | $ | 2,550,000 | $ | 2,616,630 | |||||||||||||||||||||||||||||||
Weighted average interest rate on fixed rate debt (per annum) | — | % | — | % | — | % | — | % | 3.50 | % | 2.82 | % | 2.98 | % | |||||||||||||||||||||||||||||||||
Variable rate debt, gross | $ | — | $ | — | $ | 200,000 | $ | 300,000 | $ | — | $ | — | $ | 500,000 | $ | 500,972 | |||||||||||||||||||||||||||||||
Weighted average interest rate on variable rate debt (per annum) | — | % | — | % | 2.25 | % | 2.52 | % | — | % | — | % | 2.41 | % | |||||||||||||||||||||||||||||||||
Interest Rate Swaps: | |||||||||||||||||||||||||||||||||||||||||||||||
Variable to Fixed | $ | — | $ | 300,000 | $ | 200,000 | $ | — | $ | — | $ | — | $ | 500,000 | $ | 5,069 | |||||||||||||||||||||||||||||||
Average pay rate | — | % | 1.42 | % | 1.32 | % | — | % | — | % | — | % | 1.38 | % | |||||||||||||||||||||||||||||||||
Average receive rate | — | % | 1.24 | % | 1.25 | % | — | % | — | % | — | % | 1.24 | % | |||||||||||||||||||||||||||||||||
(1) Total for interest rate swaps represents notional amount of derivative financial instruments designated as cash flow hedges. |
Page | ||||||||
(a)(1) Financial Statements: | ||||||||
Reports of Independent Registered Public Accounting Firm (PCAOB ID: 34) | ||||||||
Financial Statements of Healthcare Trust of America, Inc. | ||||||||
Financial Statements of Healthcare Trust of America Holdings, LP | ||||||||
Notes for Healthcare Trust of America, Inc. and Healthcare Trust of America Holdings, LP | ||||||||
Financial Statement Schedules of Healthcare Trust of America, Inc. and Healthcare Trust of America Holdings, LP | ||||||||
December 31, | December 31, | |||||||||||||||||||||
2017 | 2016 | 2021 | 2020 | |||||||||||||||||||
ASSETS | ASSETS | |||||||||||||||||||||
Real estate investments: | Real estate investments: | |||||||||||||||||||||
Land | $ | 485,319 | $ | 386,526 | Land | $ | 640,382 | $ | 596,269 | |||||||||||||
Building and improvements | 5,830,824 | 3,466,516 | Building and improvements | 6,688,516 | 6,507,816 | |||||||||||||||||
Lease intangibles | 639,199 | 467,571 | Lease intangibles | 404,714 | 628,621 | |||||||||||||||||
Construction in progress | 14,223 | — | Construction in progress | 32,685 | 80,178 | |||||||||||||||||
6,969,565 | 4,320,613 | 7,766,297 | 7,812,884 | |||||||||||||||||||
Accumulated depreciation and amortization | (1,021,691 | ) | (817,593 | ) | Accumulated depreciation and amortization | (1,598,468) | (1,702,719) | |||||||||||||||
Real estate investments, net | 5,947,874 | 3,503,020 | Real estate investments, net | 6,167,829 | 6,110,165 | |||||||||||||||||
Assets held for sale, net | Assets held for sale, net | 27,070 | — | |||||||||||||||||||
Investment in unconsolidated joint venture | 68,577 | — | Investment in unconsolidated joint venture | 62,834 | 64,360 | |||||||||||||||||
Cash and cash equivalents | 100,356 | 11,231 | Cash and cash equivalents | 52,353 | 115,407 | |||||||||||||||||
Restricted cash | 18,204 | 13,814 | Restricted cash | 4,716 | 3,358 | |||||||||||||||||
Receivables and other assets, net | 207,857 | 173,461 | Receivables and other assets, net | 334,941 | 251,728 | |||||||||||||||||
Right-of-use assets - operating leases, net | Right-of-use assets - operating leases, net | 229,226 | 235,223 | |||||||||||||||||||
Other intangibles, net | 106,714 | 46,318 | Other intangibles, net | 10,720 | 10,451 | |||||||||||||||||
Total assets | $ | 6,449,582 | $ | 3,747,844 | Total assets | $ | 6,889,689 | $ | 6,790,692 | |||||||||||||
LIABILITIES AND EQUITY | LIABILITIES AND EQUITY | |||||||||||||||||||||
Liabilities: | Liabilities: | |||||||||||||||||||||
Debt | $ | 2,781,031 | $ | 1,768,905 | Debt | $ | 3,028,122 | $ | 3,026,999 | |||||||||||||
Accounts payable and accrued liabilities | 167,852 | 105,034 | Accounts payable and accrued liabilities | 198,078 | 200,358 | |||||||||||||||||
Liabilities of assets held for sale | Liabilities of assets held for sale | 262 | — | |||||||||||||||||||
Derivative financial instruments - interest rate swaps | 1,089 | 1,920 | Derivative financial instruments - interest rate swaps | 5,069 | 14,957 | |||||||||||||||||
Security deposits, prepaid rent and other liabilities | 61,222 | 49,859 | Security deposits, prepaid rent and other liabilities | 86,225 | 82,553 | |||||||||||||||||
Lease liabilities - operating leases | Lease liabilities - operating leases | 196,286 | 198,367 | |||||||||||||||||||
Intangible liabilities, net | 68,203 | 37,056 | Intangible liabilities, net | 31,331 | 32,539 | |||||||||||||||||
Total liabilities | 3,079,397 | 1,962,774 | Total liabilities | 3,545,373 | 3,555,773 | |||||||||||||||||
Commitments and contingencies | Commitments and contingencies | 0 | 0 | |||||||||||||||||||
Redeemable noncontrolling interests | 6,737 | 4,653 | ||||||||||||||||||||
Redeemable non-controlling interests | Redeemable non-controlling interests | — | — | |||||||||||||||||||
Equity: | Equity: | |||||||||||||||||||||
Preferred stock, $0.01 par value; 200,000,000 shares authorized; none issued and outstanding | — | — | Preferred stock, $0.01 par value; 200,000,000 shares authorized; none issued and outstanding | — | — | |||||||||||||||||
Class A common stock, $0.01 par value; 1,000,000,000 shares authorized; 204,892,118 and 141,719,134 shares issued and outstanding as of December 31, 2017 and 2016, respectively | 2,049 | 1,417 | ||||||||||||||||||||
Common stock, $0.01 par value; 1,000,000,000 shares authorized; 228,879,846 and 218,578,012 shares issued and outstanding as of December 31, 2021 and 2020, respectively | Common stock, $0.01 par value; 1,000,000,000 shares authorized; 228,879,846 and 218,578,012 shares issued and outstanding as of December 31, 2021 and 2020, respectively | 2,289 | 2,186 | |||||||||||||||||||
Additional paid-in capital | 4,508,528 | 2,754,818 | Additional paid-in capital | 5,178,132 | 4,916,784 | |||||||||||||||||
Accumulated other comprehensive loss | 274 | — | Accumulated other comprehensive loss | (7,041) | (16,979) | |||||||||||||||||
Cumulative dividends in excess of earnings | (1,232,069 | ) | (1,068,961 | ) | Cumulative dividends in excess of earnings | (1,915,776) | (1,727,752) | |||||||||||||||
Total stockholders’ equity | 3,278,782 | 1,687,274 | Total stockholders’ equity | 3,257,604 | 3,174,239 | |||||||||||||||||
Noncontrolling interests | 84,666 | 93,143 | ||||||||||||||||||||
Non-controlling interests | Non-controlling interests | 86,712 | 60,680 | |||||||||||||||||||
Total equity | 3,363,448 | 1,780,417 | Total equity | 3,344,316 | 3,234,919 | |||||||||||||||||
Total liabilities and equity | $ | 6,449,582 | $ | 3,747,844 | Total liabilities and equity | $ | 6,889,689 | $ | 6,790,692 | |||||||||||||
Year Ended December 31, | Year Ended December 31, | |||||||||||||||||||||||||||
2017 | 2016 | 2015 | 2021 | 2020 | 2019 | |||||||||||||||||||||||
Revenues: | Revenues: | |||||||||||||||||||||||||||
Rental income | $ | 612,556 | $ | 460,563 | $ | 403,553 | Rental income | $ | 763,923 | $ | 738,414 | $ | 691,527 | |||||||||||||||
Interest and other operating income | 1,434 | 365 | 269 | Interest and other operating income | 3,150 | 551 | 513 | |||||||||||||||||||||
Total revenues | 613,990 | 460,928 | 403,822 | Total revenues | 767,073 | 738,965 | 692,040 | |||||||||||||||||||||
Expenses: | Expenses: | |||||||||||||||||||||||||||
Rental | 192,147 | 143,751 | 123,390 | Rental | 236,850 | 226,859 | 211,479 | |||||||||||||||||||||
General and administrative | 33,403 | 28,773 | 25,578 | General and administrative | 49,744 | 42,969 | 41,360 | |||||||||||||||||||||
Transaction | 5,885 | 6,538 | 4,555 | Transaction | 372 | 965 | 2,350 | |||||||||||||||||||||
Depreciation and amortization | 244,986 | 176,866 | 154,134 | Depreciation and amortization | 303,834 | 303,828 | 290,384 | |||||||||||||||||||||
Interest expense | Interest expense | 92,762 | 94,613 | 96,632 | ||||||||||||||||||||||||
Impairment | 13,922 | 3,080 | 2,581 | Impairment | 22,938 | — | — | |||||||||||||||||||||
Total expenses | 490,343 | 359,008 | 310,238 | Total expenses | 706,500 | 669,234 | 642,205 | |||||||||||||||||||||
Income before other income (expense) | 123,647 | 101,920 | 93,584 | |||||||||||||||||||||||||
Interest expense: | ||||||||||||||||||||||||||||
Interest related to derivative financial instruments | (1,031 | ) | (2,377 | ) | (3,140 | ) | ||||||||||||||||||||||
Gain (loss) on change in fair value of derivative financial instruments, net | 884 | 1,344 | (769 | ) | ||||||||||||||||||||||||
Total interest related to derivative financial instruments, including net change in fair value of derivative financial instruments | (147 | ) | (1,033 | ) | (3,909 | ) | ||||||||||||||||||||||
Interest related to debt | (85,344 | ) | (59,769 | ) | (54,967 | ) | ||||||||||||||||||||||
Gain on sale of real estate, net | 37,802 | 8,966 | 152 | |||||||||||||||||||||||||
(Loss) gain on extinguishment of debt, net | (11,192 | ) | (3,025 | ) | 123 | |||||||||||||||||||||||
Gain (loss) on sale of real estate, net | Gain (loss) on sale of real estate, net | 39,228 | 9,590 | (154) | ||||||||||||||||||||||||
Loss on sale of corporate asset, net | Loss on sale of corporate asset, net | (2,106) | — | — | ||||||||||||||||||||||||
Loss on extinguishment of debt, net | Loss on extinguishment of debt, net | — | (27,726) | (21,646) | ||||||||||||||||||||||||
Income from unconsolidated joint venture | 782 | — | — | Income from unconsolidated joint venture | 1,604 | 1,612 | 1,882 | |||||||||||||||||||||
Other income (expense) | 29 | 286 | (1,426 | ) | ||||||||||||||||||||||||
Other income | Other income | 485 | 301 | 841 | ||||||||||||||||||||||||
Net income | $ | 65,577 | $ | 47,345 | $ | 33,557 | Net income | $ | 99,784 | $ | 53,508 | $ | 30,758 | |||||||||||||||
Net income attributable to noncontrolling interests (1) | (1,661 | ) | (1,433 | ) | (626 | ) | ||||||||||||||||||||||
Net income attributable to non-controlling interests (1) | Net income attributable to non-controlling interests (1) | (1,768) | (890) | (604) | ||||||||||||||||||||||||
Net income attributable to common stockholders | $ | 63,916 | $ | 45,912 | $ | 32,931 | Net income attributable to common stockholders | $ | 98,016 | $ | 52,618 | $ | 30,154 | |||||||||||||||
Earnings per common share - basic: | Earnings per common share - basic: | |||||||||||||||||||||||||||
Net income attributable to common stockholders | $ | 0.35 | $ | 0.34 | $ | 0.26 | Net income attributable to common stockholders | $ | 0.45 | $ | 0.24 | $ | 0.15 | |||||||||||||||
Earnings per common share - diluted: | Earnings per common share - diluted: | |||||||||||||||||||||||||||
Net income attributable to common stockholders | $ | 0.34 | $ | 0.33 | $ | 0.26 | Net income attributable to common stockholders | $ | 0.44 | $ | 0.24 | $ | 0.14 | |||||||||||||||
Weighted average common shares outstanding: | Weighted average common shares outstanding: | |||||||||||||||||||||||||||
Basic | 181,064 | 136,620 | 126,074 | Basic | 219,439 | 218,078 | 205,720 | |||||||||||||||||||||
Diluted | 185,278 | 140,259 | 128,004 | Diluted | 224,215 | 221,666 | 209,605 | |||||||||||||||||||||
(1) Includes amounts attributable to redeemable noncontrolling interests. | ||||||||||||||||||||||||||||
(1) Includes amounts attributable to redeemable non-controlling interests for 2019. | (1) Includes amounts attributable to redeemable non-controlling interests for 2019. |
Year Ended December 31, | |||||||||||
2017 | 2016 | 2015 | |||||||||
Net income | $ | 65,577 | $ | 47,345 | $ | 33,557 | |||||
Other comprehensive gain (loss) | |||||||||||
Change in unrealized gains on cash flow hedges | 280 | — | — | ||||||||
Total other comprehensive gain | 280 | — | — | ||||||||
Total comprehensive income | 65,857 | 47,345 | 33,557 | ||||||||
Comprehensive income attributable to noncontrolling interests | (1,544 | ) | (1,315 | ) | (514 | ) | |||||
Total comprehensive income attributable to common stockholders | $ | 64,313 | $ | 46,030 | $ | 33,043 |
Year Ended December 31, | ||||||||||||||||||||
2021 | 2020 | 2019 | ||||||||||||||||||
Net income | $ | 99,784 | $ | 53,508 | $ | 30,758 | ||||||||||||||
Other comprehensive income (loss) | ||||||||||||||||||||
Change in unrealized gains (losses) on cash flow hedges | 10,114 | (21,876) | 4,316 | |||||||||||||||||
Total other comprehensive (loss) income | 10,114 | (21,876) | 4,316 | |||||||||||||||||
Total comprehensive income | 109,898 | 31,632 | 35,074 | |||||||||||||||||
Comprehensive income attributable to non-controlling interests | (1,944) | (539) | (615) | |||||||||||||||||
Total comprehensive income attributable to common stockholders | $ | 107,954 | $ | 31,093 | $ | 34,459 |
Class A Common Stock | Additional Paid-In Capital | Accumulated Other Comprehensive Loss | Cumulative Dividends in Excess of Earnings | Total Stockholders’ Equity | Noncontrolling Interests | Total Equity | ||||||||||||||||||||||||
Shares | Amount | |||||||||||||||||||||||||||||
Balance as of December 31, 2014 | 125,087 | $ | 1,251 | $ | 2,281,932 | $ | — | $ | (836,044 | ) | $ | 1,447,139 | $ | 29,282 | $ | 1,476,421 | ||||||||||||||
Issuance of common stock, net | 1,800 | 18 | 43,631 | — | — | 43,649 | — | 43,649 | ||||||||||||||||||||||
Share-based award transactions, net | 202 | 2 | 5,722 | — | — | 5,724 | — | 5,724 | ||||||||||||||||||||||
Repurchase and cancellation of common stock | (62 | ) | (1 | ) | (1,666 | ) | — | — | (1,667 | ) | — | (1,667 | ) | |||||||||||||||||
Redemption of noncontrolling interest and other | — | — | (813 | ) | — | — | (813 | ) | — | (813 | ) | |||||||||||||||||||
Dividends ($1.170 per common share) | — | — | — | — | (147,539 | ) | (147,539 | ) | (2,262 | ) | (149,801 | ) | ||||||||||||||||||
Net income | — | — | — | — | 32,931 | 32,931 | 514 | 33,445 | ||||||||||||||||||||||
Balance as of December 31, 2015 | 127,027 | 1,270 | 2,328,806 | — | (950,652 | ) | 1,379,424 | 27,534 | 1,406,958 | |||||||||||||||||||||
Issuance of common stock, net | 14,138 | 141 | 417,022 | — | — | 417,163 | — | 417,163 | ||||||||||||||||||||||
Issuance of operating partnership units in connection with an acquisition | — | — | — | — | — | — | 74,460 | 74,460 | ||||||||||||||||||||||
Share-based award transactions, net | 391 | 4 | 7,067 | — | — | 7,071 | — | 7,071 | ||||||||||||||||||||||
Repurchase and cancellation of common stock | (94 | ) | (1 | ) | (2,641 | ) | — | — | (2,642 | ) | — | (2,642 | ) | |||||||||||||||||
Redemption of noncontrolling interest and other | 257 | 3 | 4,564 | — | — | 4,567 | (5,709 | ) | (1,142 | ) | ||||||||||||||||||||
Dividends declared ($1.190 per common share) | — | — | — | — | (164,221 | ) | (164,221 | ) | (4,457 | ) | (168,678 | ) | ||||||||||||||||||
Net income | — | — | — | — | 45,912 | 45,912 | 1,315 | 47,227 | ||||||||||||||||||||||
Balance as of December 31, 2016 | 141,719 | 1,417 | 2,754,818 | — | (1,068,961 | ) | 1,687,274 | 93,143 | 1,780,417 | |||||||||||||||||||||
Issuance of common stock, net | 62,823 | 628 | 1,746,328 | — | — | 1,746,956 | — | 1,746,956 | ||||||||||||||||||||||
Issuance of operating partnership units in connection with an acquisition | — | — | — | — | — | — | 1,125 | 1,125 | ||||||||||||||||||||||
Share-based award transactions, net | 230 | 3 | 6,867 | — | — | 6,870 | — | 6,870 | ||||||||||||||||||||||
Repurchase and cancellation of common stock | (116 | ) | (1 | ) | (3,412 | ) | — | — | (3,413 | ) | — | (3,413 | ) | |||||||||||||||||
Redemption of noncontrolling interest and other | 236 | 2 | 3,927 | — | — | 3,929 | (5,943 | ) | (2,014 | ) | ||||||||||||||||||||
Dividends declared ($1.210 per common share) | — | — | — | — | (227,024 | ) | (227,024 | ) | (5,203 | ) | (232,227 | ) | ||||||||||||||||||
Net income | — | — | — | — | 63,916 | 63,916 | 1,538 | 65,454 | ||||||||||||||||||||||
Other comprehensive gain | — | — | — | 274 | — | 274 | 6 | 280 | ||||||||||||||||||||||
Balance as of December 31, 2017 | 204,892 | $ | 2,049 | $ | 4,508,528 | $ | 274 | $ | (1,232,069 | ) | $ | 3,278,782 | $ | 84,666 | $ | 3,363,448 |
Common Stock | Additional Paid-In Capital | Accumulated Other Comprehensive Income (Loss) | Cumulative Dividends in Excess of Earnings | Total Stockholders’ Equity | Non-controlling Interests | Total Equity | |||||||||||||||||||||||||||||||||||||||||
Shares | Amount | ||||||||||||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2018 | 205,267 | $ | 2,053 | $ | 4,525,969 | $ | 307 | $ | (1,272,305) | $ | 3,256,024 | $ | 78,890 | $ | 3,334,914 | ||||||||||||||||||||||||||||||||
Issuance of common stock, net | 11,096 | 112 | 322,106 | — | — | 322,218 | — | 322,218 | |||||||||||||||||||||||||||||||||||||||
Issuance of OP Units in HTALP | 2,603 | 2,603 | |||||||||||||||||||||||||||||||||||||||||||||
Issuance of limited partner OP Units in connection with acquisitions | — | — | — | — | — | — | 2,000 | 2,000 | |||||||||||||||||||||||||||||||||||||||
Share-based award transactions, net | 319 | 3 | 10,124 | — | — | 10,127 | — | 10,127 | |||||||||||||||||||||||||||||||||||||||
Repurchase and cancellation of common stock | (487) | (5) | (12,173) | — | — | (12,178) | — | (12,178) | |||||||||||||||||||||||||||||||||||||||
Redemption of non-controlling interest and other | 258 | 2 | 8,016 | — | — | 8,018 | (6,293) | 1,725 | |||||||||||||||||||||||||||||||||||||||
Dividends declared ($1.250 per common share) | — | — | — | — | (260,593) | (260,593) | (5,180) | (265,773) | |||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | — | 30,154 | 30,154 | 538 | 30,692 | |||||||||||||||||||||||||||||||||||||||
Other comprehensive income | — | — | — | 4,239 | 4,239 | 77 | 4,316 | ||||||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2019 | 216,453 | 2,165 | 4,854,042 | 4,546 | (1,502,744) | 3,358,009 | 72,635 | 3,430,644 | |||||||||||||||||||||||||||||||||||||||
Issuance of common stock, net | 1,675 | 17 | 50,003 | — | — | 50,020 | — | 50,020 | |||||||||||||||||||||||||||||||||||||||
Issuance of OP Units in HTALP | — | — | — | — | — | — | 1,378 | 1,378 | |||||||||||||||||||||||||||||||||||||||
Share-based award transactions, net | 263 | 3 | 8,913 | — | — | 8,916 | — | 8,916 | |||||||||||||||||||||||||||||||||||||||
Repurchase and cancellation of common stock | (174) | (2) | (5,190) | — | — | (5,192) | — | (5,192) | |||||||||||||||||||||||||||||||||||||||
Redemption of non-controlling interest and other | 361 | 3 | 9,016 | — | — | 9,019 | (9,019) | — | |||||||||||||||||||||||||||||||||||||||
Dividends declared ($1.270 per common share) | — | — | — | — | (277,626) | (277,626) | (4,853) | (282,479) | |||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | — | 52,618 | 52,618 | 890 | 53,508 | |||||||||||||||||||||||||||||||||||||||
Other comprehensive loss | — | — | — | (21,525) | — | (21,525) | (351) | (21,876) | |||||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2020 | 218,578 | 2,186 | 4,916,784 | (16,979) | (1,727,752) | 3,174,239 | 60,680 | 3,234,919 | |||||||||||||||||||||||||||||||||||||||
Issuance of common stock, net | 9,419 | 94 | 251,156 | — | — | 251,250 | — | 251,250 | |||||||||||||||||||||||||||||||||||||||
Issuance of OP Units in HTALP | — | — | — | — | — | — | 35,785 | 35,785 | |||||||||||||||||||||||||||||||||||||||
Share-based award transactions, net | 391 | 4 | 7,258 | — | — | 7,262 | — | 7,262 | |||||||||||||||||||||||||||||||||||||||
Repurchase and cancellation of common stock | (125) | (1) | (3,413) | — | — | (3,414) | — | (3,414) | |||||||||||||||||||||||||||||||||||||||
Redemption of non-controlling interest and other | 617 | 6 | 6,347 | — | — | 6,353 | (6,353) | — | |||||||||||||||||||||||||||||||||||||||
Dividends declared ($1.290 per common share) | — | — | — | — | (286,040) | (286,040) | (5,344) | (291,384) | |||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | — | 98,016 | 98,016 | 1,768 | 99,784 | |||||||||||||||||||||||||||||||||||||||
Other comprehensive income | — | — | — | 9,938 | — | 9,938 | 176 | 10,114 | |||||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2021 | 228,880 | $ | 2,289 | $ | 5,178,132 | $ | (7,041) | $ | (1,915,776) | $ | 3,257,604 | $ | 86,712 | $ | 3,344,316 |
Year Ended December 31, | |||||||||||
2017 | 2016 | 2015 | |||||||||
Cash flows from operating activities: | |||||||||||
Net income | $ | 65,577 | $ | 47,345 | $ | 33,557 | |||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation, amortization and other | 239,044 | 175,285 | 151,614 | ||||||||
Share-based compensation expense | 6,870 | 7,071 | 5,724 | ||||||||
Bad debt expense | 438 | 846 | 828 | ||||||||
Impairment | 13,922 | 3,080 | 2,581 | ||||||||
Income from unconsolidated joint venture | (782 | ) | — | — | |||||||
Distributions from unconsolidated joint venture | 750 | — | — | ||||||||
Gain on sale of real estate, net | (37,802 | ) | (8,966 | ) | (152 | ) | |||||
Loss (gain) on extinguishment of debt, net | 11,192 | 3,025 | (123 | ) | |||||||
Change in fair value of derivative financial instruments | (884 | ) | (1,344 | ) | 769 | ||||||
Changes in operating assets and liabilities: | |||||||||||
Receivables and other assets, net | (33,733 | ) | (22,080 | ) | (7,508 | ) | |||||
Accounts payable and accrued liabilities | 37,406 | 2,171 | (6,284 | ) | |||||||
Prepaid rent and other liabilities | 5,545 | (2,738 | ) | 10,089 | |||||||
Net cash provided by operating activities | 307,543 | 203,695 | 191,095 | ||||||||
Cash flows from investing activities: | |||||||||||
Investments in real estate | (2,383,581 | ) | (591,954 | ) | (279,334 | ) | |||||
Investment in unconsolidated joint venture | (68,839 | ) | — | — | |||||||
Development of real estate | (25,191 | ) | — | — | |||||||
Proceeds from the sale of real estate | 80,640 | 26,555 | 34,629 | ||||||||
Capital expenditures | (64,833 | ) | (42,994 | ) | (29,270 | ) | |||||
Collection of real estate notes receivable | 9,964 | — | — | ||||||||
Advances on real estate notes receivable | (3,256 | ) | — | — | |||||||
Other assets | — | — | (196 | ) | |||||||
Net cash used in investing activities | (2,455,096 | ) | (608,393 | ) | (274,171 | ) | |||||
Cash flows from financing activities: | |||||||||||
Borrowings on unsecured revolving credit facility | 570,000 | 574,000 | 454,000 | ||||||||
Payments on unsecured revolving credit facility | (658,000 | ) | (704,000 | ) | (272,000 | ) | |||||
Proceeds from unsecured senior notes | 900,000 | 347,725 | — | ||||||||
Borrowings on unsecured term loans | — | 200,000 | 100,000 | ||||||||
Payments on unsecured term loans | — | (155,000 | ) | — | |||||||
Payments on secured mortgage loans | (77,024 | ) | (110,935 | ) | (94,856 | ) | |||||
Deferred financing costs | (16,904 | ) | (3,191 | ) | (204 | ) | |||||
Debt extinguishment costs | (10,571 | ) | — | — | |||||||
Security deposits | 2,419 | 924 | (243 | ) | |||||||
Proceeds from issuance of common stock | 1,746,956 | 418,891 | 44,324 | ||||||||
Issuance of operating partnership units | — | 2,706 | — | ||||||||
Repurchase and cancellation of common stock | (3,413 | ) | (2,642 | ) | (1,667 | ) | |||||
Dividends paid | (207,087 | ) | (159,174 | ) | (146,372 | ) | |||||
Distributions paid to noncontrolling interest of limited partners | (5,308 | ) | (3,951 | ) | (2,156 | ) | |||||
Redemption of redeemable noncontrolling interest | — | (4,572 | ) | — | |||||||
Net cash provided by financing activities | 2,241,068 | 400,781 | 80,826 | ||||||||
Net change in cash, cash equivalents and restricted cash | 93,515 | (3,917 | ) | (2,250 | ) | ||||||
Cash, cash equivalents and restricted cash - beginning of year | 25,045 | 28,962 | 31,212 | ||||||||
Cash, cash equivalents and restricted cash - end of year | $ | 118,560 | $ | 25,045 | $ | 28,962 |
Year Ended December 31, | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Cash flows from operating activities: | |||||||||||||||||
Net income | $ | 99,784 | $ | 53,508 | $ | 30,758 | |||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||||
Depreciation and amortization | 283,300 | 283,039 | 280,969 | ||||||||||||||
Share-based compensation expense | 7,262 | 8,916 | 10,127 | ||||||||||||||
Impairment | 22,938 | — | — | ||||||||||||||
Income from unconsolidated joint venture | (1,604) | (1,612) | (1,882) | ||||||||||||||
Distributions from unconsolidated joint venture | 3,130 | 3,240 | 3,030 | ||||||||||||||
(Gain) loss on sale of real estate, net | (39,228) | (9,590) | 154 | ||||||||||||||
Loss on sale of corporate asset, net | 2,106 | — | — | ||||||||||||||
Loss on extinguishment of debt, net | — | 27,726 | 21,646 | ||||||||||||||
Changes in operating assets and liabilities: | |||||||||||||||||
Receivables and other assets, net | (4,699) | (11,042) | (12,857) | ||||||||||||||
Accounts payable and accrued liabilities | 9,430 | 2,066 | (128) | ||||||||||||||
Prepaid rent and other liabilities | 3,197 | 31,711 | 8,577 | ||||||||||||||
Net cash provided by operating activities | 385,616 | 387,962 | 340,394 | ||||||||||||||
Cash flows from investing activities: | |||||||||||||||||
Investments in real estate | (264,340) | (185,286) | (553,298) | ||||||||||||||
Development of real estate | (63,306) | (77,077) | (28,066) | ||||||||||||||
Proceeds from the sale of real estate | 87,628 | 22,939 | 4,880 | ||||||||||||||
Proceeds from the sale of corporate assets | 10,127 | — | — | ||||||||||||||
Capital expenditures | (97,155) | (74,743) | (91,544) | ||||||||||||||
Other investment | (6,000) | — | — | ||||||||||||||
Collection of real estate notes receivable | 15,405 | 907 | 739 | ||||||||||||||
Advances on real estate notes receivable | (82,214) | (6,000) | — | ||||||||||||||
Net cash used in investing activities | (399,855) | (319,260) | (667,289) | ||||||||||||||
Cash flows from financing activities: | |||||||||||||||||
Borrowings on unsecured revolving credit facility | 310,000 | 1,329,862 | 610,000 | ||||||||||||||
Payments on unsecured revolving credit facility | (310,000) | (1,429,862) | (510,000) | ||||||||||||||
Proceeds from unsecured senior notes | — | 793,568 | 906,927 | ||||||||||||||
Payments on unsecured senior notes | — | (300,000) | (700,000) | ||||||||||||||
Payments on secured mortgage loans | — | (114,060) | (97,361) | ||||||||||||||
Deferred financing costs | (8,053) | (6,800) | (7,776) | ||||||||||||||
Debt extinguishment costs | — | (25,939) | (18,383) | ||||||||||||||
Proceeds from issuance of common stock | 251,250 | 50,020 | 323,393 | ||||||||||||||
Issuance of OP Units | — | 1,378 | — | ||||||||||||||
Repurchase and cancellation of common stock | (3,414) | (5,192) | (12,178) | ||||||||||||||
Dividends paid | (281,820) | (275,816) | (256,117) | ||||||||||||||
Distributions paid to non-controlling interest of limited partners | (5,420) | (4,712) | (8,758) | ||||||||||||||
Sale of non-controlling interest | — | — | 1,234 | ||||||||||||||
Net cash (used in) provided by financing activities | (47,457) | 12,447 | 230,981 | ||||||||||||||
Net change in cash, cash equivalents and restricted cash | (61,696) | 81,149 | (95,914) | ||||||||||||||
Cash, cash equivalents and restricted cash - beginning of year | 118,765 | 37,616 | 133,530 | ||||||||||||||
Cash, cash equivalents and restricted cash - end of year | $ | 57,069 | $ | 118,765 | $ | 37,616 |
December 31, | December 31, | |||||||||||||||||||||
2017 | 2016 | 2021 | 2020 | |||||||||||||||||||
ASSETS | ASSETS | |||||||||||||||||||||
Real estate investments: | Real estate investments: | |||||||||||||||||||||
Land | $ | 485,319 | $ | 386,526 | Land | $ | 640,382 | $ | 596,269 | |||||||||||||
Building and improvements | 5,830,824 | 3,466,516 | Building and improvements | 6,688,516 | 6,507,816 | |||||||||||||||||
Lease intangibles | 639,199 | 467,571 | Lease intangibles | 404,714 | 628,621 | |||||||||||||||||
Construction in progress | 14,223 | — | Construction in progress | 32,685 | 80,178 | |||||||||||||||||
6,969,565 | 4,320,613 | 7,766,297 | 7,812,884 | |||||||||||||||||||
Accumulated depreciation and amortization | (1,021,691 | ) | (817,593 | ) | Accumulated depreciation and amortization | (1,598,468) | (1,702,719) | |||||||||||||||
Real estate investments, net | 5,947,874 | 3,503,020 | Real estate investments, net | 6,167,829 | 6,110,165 | |||||||||||||||||
Assets held for sale, net | Assets held for sale, net | 27,070 | — | |||||||||||||||||||
Investment in unconsolidated joint venture | 68,577 | — | Investment in unconsolidated joint venture | 62,834 | 64,360 | |||||||||||||||||
Cash and cash equivalents | 100,356 | 11,231 | Cash and cash equivalents | 52,353 | 115,407 | |||||||||||||||||
Restricted cash | 18,204 | 13,814 | Restricted cash | 4,716 | 3,358 | |||||||||||||||||
Receivables and other assets, net | 207,857 | 173,461 | Receivables and other assets, net | 334,941 | 251,728 | |||||||||||||||||
Right-of-use assets - operating leases, net | Right-of-use assets - operating leases, net | 229,226 | 235,223 | |||||||||||||||||||
Other intangibles, net | 106,714 | 46,318 | Other intangibles, net | 10,720 | 10,451 | |||||||||||||||||
Total assets | $ | 6,449,582 | $ | 3,747,844 | Total assets | $ | 6,889,689 | $ | 6,790,692 | |||||||||||||
LIABILITIES AND PARTNERS’ CAPITAL | LIABILITIES AND PARTNERS’ CAPITAL | |||||||||||||||||||||
Liabilities: | Liabilities: | |||||||||||||||||||||
Debt | $ | 2,781,031 | $ | 1,768,905 | Debt | $ | 3,028,122 | $ | 3,026,999 | |||||||||||||
Accounts payable and accrued liabilities | 167,852 | 105,034 | Accounts payable and accrued liabilities | 198,078 | 200,358 | |||||||||||||||||
Liabilities of assets held for sale | Liabilities of assets held for sale | 262 | — | |||||||||||||||||||
Derivative financial instruments - interest rate swaps | 1,089 | 1,920 | Derivative financial instruments - interest rate swaps | 5,069 | 14,957 | |||||||||||||||||
Security deposits, prepaid rent and other liabilities | 61,222 | 49,859 | Security deposits, prepaid rent and other liabilities | 86,225 | 82,553 | |||||||||||||||||
Lease liabilities - operating leases | Lease liabilities - operating leases | 196,286 | 198,367 | |||||||||||||||||||
Intangible liabilities, net | 68,203 | 37,056 | Intangible liabilities, net | 31,331 | 32,539 | |||||||||||||||||
Total liabilities | 3,079,397 | 1,962,774 | Total liabilities | 3,545,373 | 3,555,773 | |||||||||||||||||
Commitments and contingencies | Commitments and contingencies | 0 | 0 | |||||||||||||||||||
Redeemable noncontrolling interests | 6,737 | 4,653 | ||||||||||||||||||||
Redeemable non-controlling interests | Redeemable non-controlling interests | — | — | |||||||||||||||||||
Partners’ Capital: | Partners’ Capital: | |||||||||||||||||||||
Limited partners’ capital, 4,124,148 and 4,323,095 units issued and outstanding as of December 31, 2017 and 2016, respectively | 84,396 | 92,873 | ||||||||||||||||||||
General partners’ capital, 204,892,118 and 141,719,134 units issued and outstanding as of December 31, 2017 and 2016, respectively | 3,279,052 | 1,687,544 | ||||||||||||||||||||
Limited partners’ capital, 4,142,408 and 3,519,545 OP Units issued and outstanding as of December 31, 2021 and 2020, respectively | Limited partners’ capital, 4,142,408 and 3,519,545 OP Units issued and outstanding as of December 31, 2021 and 2020, respectively | 86,442 | 60,410 | |||||||||||||||||||
General partners’ capital, 228,879,846 and 218,578,012 OP Units issued and outstanding as of December 31, 2021 and 2020, respectively | General partners’ capital, 228,879,846 and 218,578,012 OP Units issued and outstanding as of December 31, 2021 and 2020, respectively | 3,257,874 | 3,174,509 | |||||||||||||||||||
Total partners’ capital | 3,363,448 | 1,780,417 | Total partners’ capital | 3,344,316 | 3,234,919 | |||||||||||||||||
Total liabilities and partners’ capital | $ | 6,449,582 | $ | 3,747,844 | Total liabilities and partners’ capital | $ | 6,889,689 | $ | 6,790,692 |
Year Ended December 31, | |||||||||||
2017 | 2016 | 2015 | |||||||||
Revenues: | |||||||||||
Rental income | $ | 612,556 | $ | 460,563 | $ | 403,553 | |||||
Interest and other operating income | 1,434 | 365 | 269 | ||||||||
Total revenues | 613,990 | 460,928 | 403,822 | ||||||||
Expenses: | |||||||||||
Rental | 192,147 | 143,751 | 123,390 | ||||||||
General and administrative | 33,403 | 28,773 | 25,578 | ||||||||
Transaction | 5,885 | 6,538 | 4,555 | ||||||||
Depreciation and amortization | 244,986 | 176,866 | 154,134 | ||||||||
Impairment | 13,922 | 3,080 | 2,581 | ||||||||
Total expenses | 490,343 | 359,008 | 310,238 | ||||||||
Income before other income (expense) | 123,647 | 101,920 | 93,584 | ||||||||
Interest expense: | |||||||||||
Interest related to derivative financial instruments | (1,031 | ) | (2,377 | ) | (3,140 | ) | |||||
Gain (loss) on change in fair value of derivative financial instruments, net | 884 | 1,344 | (769 | ) | |||||||
Total interest related to derivative financial instruments, including net change in fair value of derivative financial instruments | (147 | ) | (1,033 | ) | (3,909 | ) | |||||
Interest related to debt | (85,344 | ) | (59,769 | ) | (54,967 | ) | |||||
Gain on sale of real estate, net | 37,802 | 8,966 | 152 | ||||||||
(Loss) gain on extinguishment of debt, net | (11,192 | ) | (3,025 | ) | 123 | ||||||
Income from unconsolidated joint venture | 782 | — | — | ||||||||
Other income (expense) | 29 | 286 | (1,426 | ) | |||||||
Net income | $ | 65,577 | $ | 47,345 | $ | 33,557 | |||||
Net income attributable to noncontrolling interests | (123 | ) | (118 | ) | (112 | ) | |||||
Net income attributable to common unitholders | $ | 65,454 | $ | 47,227 | $ | 33,445 | |||||
Earnings per common unit - basic: | |||||||||||
Net income attributable to common unitholders | $ | 0.35 | $ | 0.34 | $ | 0.26 | |||||
Earnings per common unit - diluted: | |||||||||||
Net income attributable to common unitholders | $ | 0.35 | $ | 0.34 | $ | 0.26 | |||||
Weighted average common units outstanding: | |||||||||||
Basic | 185,261 | 140,259 | 128,079 | ||||||||
Diluted | 185,278 | 140,259 | 128,079 |
Year Ended December 31, | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Revenues: | |||||||||||||||||
Rental income | $ | 763,923 | $ | 738,414 | $ | 691,527 | |||||||||||
Interest and other operating income | 3,150 | 551 | 513 | ||||||||||||||
Total revenues | 767,073 | 738,965 | 692,040 | ||||||||||||||
Expenses: | |||||||||||||||||
Rental | 236,850 | 226,859 | 211,479 | ||||||||||||||
General and administrative | 49,744 | 42,969 | 41,360 | ||||||||||||||
Transaction | 372 | 965 | 2,350 | ||||||||||||||
Depreciation and amortization | 303,834 | 303,828 | 290,384 | ||||||||||||||
Interest expense | 92,762 | 94,613 | 96,632 | ||||||||||||||
Impairment | 22,938 | — | — | ||||||||||||||
Total expenses | 706,500 | 669,234 | 642,205 | ||||||||||||||
Gain (loss) on sale of real estate, net | 39,228 | 9,590 | (154) | ||||||||||||||
Loss on sale of corporate asset, net | (2,106) | — | — | ||||||||||||||
Loss on extinguishment of debt, net | — | (27,726) | (21,646) | ||||||||||||||
Income from unconsolidated joint venture | 1,604 | 1,612 | 1,882 | ||||||||||||||
Other income | 485 | 301 | 841 | ||||||||||||||
Net income | $ | 99,784 | $ | 53,508 | $ | 30,758 | |||||||||||
Net income attributable to non-controlling interests | — | — | (66) | ||||||||||||||
Net income attributable to common OP unitholders | $ | 99,784 | $ | 53,508 | $ | 30,692 | |||||||||||
Earnings per common OP unit - basic: | |||||||||||||||||
Net income attributable to common OP unitholders | $ | 0.45 | $ | 0.24 | $ | 0.15 | |||||||||||
Earnings per common OP unit - diluted: | |||||||||||||||||
Net income attributable to common OP unitholders | $ | 0.45 | $ | 0.24 | $ | 0.15 | |||||||||||
Weighted average common OP units outstanding: | |||||||||||||||||
Basic | 223,299 | 221,666 | 209,605 | ||||||||||||||
Diluted | 224,215 | 221,666 | 209,605 |
Year Ended December 31, | |||||||||||
2017 | 2016 | 2015 | |||||||||
Net income | $ | 65,577 | $ | 47,345 | $ | 33,557 | |||||
Other comprehensive gain (loss) | |||||||||||
Change in unrealized gains on cash flow hedges | 280 | — | — | ||||||||
Total other comprehensive gain | 280 | — | — | ||||||||
Total comprehensive income | 65,857 | 47,345 | 33,557 | ||||||||
Comprehensive income attributable to noncontrolling interests | (123 | ) | (118 | ) | (112 | ) | |||||
Total comprehensive income attributable to common unitholders | $ | 65,734 | $ | 47,227 | $ | 33,445 |
Year Ended December 31, | ||||||||||||||||||||
2021 | 2020 | 2019 | ||||||||||||||||||
Net income | $ | 99,784 | $ | 53,508 | $ | 30,758 | ||||||||||||||
Other comprehensive income (loss) | ||||||||||||||||||||
Change in unrealized gains (losses) on cash flow hedges | 10,114 | (21,876) | 4,316 | |||||||||||||||||
Total other comprehensive income (loss) | 10,114 | (21,876) | 4,316 | |||||||||||||||||
Total comprehensive income | 109,898 | 31,632 | 35,074 | |||||||||||||||||
Comprehensive income attributable to non-controlling interests | — | — | (66) | |||||||||||||||||
Total comprehensive income attributable to common unitholders | $ | 109,898 | $ | 31,632 | $ | 35,008 |
General Partners’ Capital | Limited Partners’ Capital | Total Partners’ Capital | |||||||||||||||
Units | Amount | Units | Amount | ||||||||||||||
Balance as of December 31, 2014 | 125,087 | $ | 1,447,409 | 2,155 | $ | 29,012 | $ | 1,476,421 | |||||||||
Issuance of general partner units, net | 1,800 | 43,649 | — | — | 43,649 | ||||||||||||
Share-based award transactions, net | 202 | 5,724 | (225 | ) | — | 5,724 | |||||||||||
Redemption and cancellation of general partner units | (62 | ) | (1,667 | ) | — | — | (1,667 | ) | |||||||||
Redemption of limited partner units and other | — | (813 | ) | — | — | (813 | ) | ||||||||||
Distributions ($1.170 per common unit) | — | (147,539 | ) | — | (2,262 | ) | (149,801 | ) | |||||||||
Net income | — | 32,931 | — | 514 | 33,445 | ||||||||||||
Balance as of December 31, 2015 | 127,027 | 1,379,694 | 1,930 | 27,264 | 1,406,958 | ||||||||||||
Issuance of general partner units, net | 14,138 | 417,163 | — | — | 417,163 | ||||||||||||
Issuance of limited partner units in connection with an acquisition | — | — | 2,650 | 74,460 | 74,460 | ||||||||||||
Share-based award transactions, net | 391 | 7,071 | — | — | 7,071 | ||||||||||||
Redemption and cancellation of general partner units | (94 | ) | (2,642 | ) | — | — | (2,642 | ) | |||||||||
Redemption of limited partner units and other | 257 | 4,567 | (257 | ) | (5,709 | ) | (1,142 | ) | |||||||||
Distributions declared ($1.190 per common unit) | — | (164,221 | ) | — | (4,457 | ) | (168,678 | ) | |||||||||
Net income | — | 45,912 | — | 1,315 | 47,227 | ||||||||||||
Balance as of December 31, 2016 | 141,719 | 1,687,544 | 4,323 | 92,873 | 1,780,417 | ||||||||||||
Issuance of general partner units, net | 62,823 | 1,746,956 | — | — | 1,746,956 | ||||||||||||
Issuance of limited partner units in connection with an acquisition | — | — | 38 | 1,125 | 1,125 | ||||||||||||
Share-based award transactions, net | 230 | 6,870 | — | — | 6,870 | ||||||||||||
Redemption and cancellation of general partner units | (116 | ) | (3,413 | ) | — | — | (3,413 | ) | |||||||||
Redemption of limited partner units and other | 236 | 3,929 | (237 | ) | (5,943 | ) | (2,014 | ) | |||||||||
Distributions declared ($1.210 per common unit) | — | (227,024 | ) | — | (5,203 | ) | (232,227 | ) | |||||||||
Net income | — | 63,916 | — | 1,538 | 65,454 | ||||||||||||
Other comprehensive gain | — | 274 | — | 6 | 280 | ||||||||||||
Balance as of December 31, 2017 | 204,892 | $ | 3,279,052 | 4,124 | $ | 84,396 | $ | 3,363,448 |
General Partners’ Capital | Limited Partners’ Capital | Total Partners’ Capital | |||||||||||||||||||||||||||
Units | Amount | Units | Amount | ||||||||||||||||||||||||||
Balance as of December 31, 2018 | 205,267 | $ | 3,256,294 | 3,929 | $ | 78,620 | $ | 3,334,914 | |||||||||||||||||||||
Issuance of general partner OP Units, net | 11,096 | 322,218 | — | — | 322,218 | ||||||||||||||||||||||||
Issuance of limited partner OP Units | — | — | — | 2,603 | 2,603 | ||||||||||||||||||||||||
Issuance of limited partner OP Units in connection with an acquisition | — | — | 163 | 2,000 | 2,000 | ||||||||||||||||||||||||
Share-based award transactions, net | 319 | 10,127 | — | — | 10,127 | ||||||||||||||||||||||||
Redemption and cancellation of general partner OP Units | (487) | (12,178) | — | — | (12,178) | ||||||||||||||||||||||||
Redemption of limited partner OP Units and other | 258 | 8,018 | (258) | (6,293) | 1,725 | ||||||||||||||||||||||||
Distributions declared ($1.250 per common unit) | — | (260,593) | — | (5,180) | (265,773) | ||||||||||||||||||||||||
Net income | — | 30,154 | — | 538 | 30,692 | ||||||||||||||||||||||||
Other comprehensive income | — | 4,239 | — | 77 | 4,316 | ||||||||||||||||||||||||
Balance as of December 31, 2019 | 216,453 | 3,358,279 | 3,834 | 72,365 | 3,430,644 | ||||||||||||||||||||||||
Issuance of general partner OP Units, net | 1,675 | 50,020 | — | — | 50,020 | ||||||||||||||||||||||||
Issuance of limited partner OP Units | — | — | 47 | 1,378 | 1,378 | ||||||||||||||||||||||||
Share-based award transactions, net | 263 | 8,916 | — | — | 8,916 | ||||||||||||||||||||||||
Redemption and cancellation of general partner OP Units | (174) | (5,192) | — | — | (5,192) | ||||||||||||||||||||||||
Redemption of limited partner OP Units and other | 361 | 9,019 | (361) | (9,019) | — | ||||||||||||||||||||||||
Distributions declared ($1.270 per common unit) | — | (277,626) | — | (4,853) | (282,479) | ||||||||||||||||||||||||
Net income | — | 52,618 | — | 890 | 53,508 | ||||||||||||||||||||||||
Other comprehensive loss | — | (21,525) | — | (351) | (21,876) | ||||||||||||||||||||||||
Balance as of December 31, 2020 | 218,578 | 3,174,509 | 3,520 | 60,410 | 3,234,919 | ||||||||||||||||||||||||
Issuance of general partner OP Units, net | 9,419 | 251,250 | — | — | 251,250 | ||||||||||||||||||||||||
Issuance of limited partner OP Units in connection with acquisitions | — | — | 1,239 | 35,785 | 35,785 | ||||||||||||||||||||||||
Share-based award transactions, net | 391 | 7,262 | — | — | 7,262 | ||||||||||||||||||||||||
Redemption and cancellation of general partner OP Units | (125) | (3,414) | — | — | (3,414) | ||||||||||||||||||||||||
Redemption of limited partner OP Units and other | 617 | 6,353 | (617) | (6,353) | — | ||||||||||||||||||||||||
Distributions declared ($1.290 per common unit) | — | (286,040) | — | (5,344) | (291,384) | ||||||||||||||||||||||||
Net income | — | 98,016 | — | 1,768 | 99,784 | ||||||||||||||||||||||||
Other comprehensive income | — | 9,938 | — | 176 | 10,114 | ||||||||||||||||||||||||
Balance as of December 31, 2021 | 228,880 | $ | 3,257,874 | 4,142 | $ | 86,442 | $ | 3,344,316 |
Year Ended December 31, | |||||||||||
2017 | 2016 | 2015 | |||||||||
Cash flows from operating activities: | |||||||||||
Net income | $ | 65,577 | $ | 47,345 | $ | 33,557 | |||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation, amortization and other | 239,044 | 175,285 | 151,614 | ||||||||
Share-based compensation expense | 6,870 | 7,071 | 5,724 | ||||||||
Bad debt expense | 438 | 846 | 828 | ||||||||
Impairment | 13,922 | 3,080 | 2,581 | ||||||||
Income from unconsolidated joint venture | (782 | ) | — | — | |||||||
Distributions from unconsolidated joint venture | 750 | — | — | ||||||||
Gain on sale of real estate, net | (37,802 | ) | (8,966 | ) | (152 | ) | |||||
Loss (gain) on extinguishment of debt, net | 11,192 | 3,025 | (123 | ) | |||||||
Change in fair value of derivative financial instruments | (884 | ) | (1,344 | ) | 769 | ||||||
Changes in operating assets and liabilities: | |||||||||||
Receivables and other assets, net | (33,733 | ) | (22,080 | ) | (7,508 | ) | |||||
Accounts payable and accrued liabilities | 37,406 | 2,171 | (6,284 | ) | |||||||
Prepaid rent and other liabilities | 5,545 | (2,738 | ) | 10,089 | |||||||
Net cash provided by operating activities | 307,543 | 203,695 | 191,095 | ||||||||
Cash flows from investing activities: | |||||||||||
Investments in real estate | (2,383,581 | ) | (591,954 | ) | (279,334 | ) | |||||
Investment in unconsolidated joint venture | (68,839 | ) | — | — | |||||||
Development of real estate | (25,191 | ) | — | — | |||||||
Proceeds from the sale of real estate | 80,640 | 26,555 | 34,629 | ||||||||
Capital expenditures | (64,833 | ) | (42,994 | ) | (29,270 | ) | |||||
Collection of real estate notes receivable | 9,964 | — | — | ||||||||
Advances on real estate notes receivable | (3,256 | ) | — | — | |||||||
Other assets | — | — | (196 | ) | |||||||
Net cash used in investing activities | (2,455,096 | ) | (608,393 | ) | (274,171 | ) | |||||
Cash flows from financing activities: | |||||||||||
Borrowings on unsecured revolving credit facility | 570,000 | 574,000 | 454,000 | ||||||||
Payments on unsecured revolving credit facility | (658,000 | ) | (704,000 | ) | (272,000 | ) | |||||
Proceeds from unsecured senior notes | 900,000 | 347,725 | — | ||||||||
Borrowings on unsecured term loans | — | 200,000 | 100,000 | ||||||||
Payments on unsecured term loans | — | (155,000 | ) | — | |||||||
Payments on secured mortgage loans | (77,024 | ) | (110,935 | ) | (94,856 | ) | |||||
Deferred financing costs | (16,904 | ) | (3,191 | ) | (204 | ) | |||||
Debt extinguishment costs | (10,571 | ) | — | — | |||||||
Security deposits | 2,419 | 924 | (243 | ) | |||||||
Proceeds from issuance of general partner units | 1,746,956 | 418,891 | 44,324 | ||||||||
Issuance of limited partner units | — | 2,706 | — | ||||||||
Repurchase and cancellation of general partner units | (3,413 | ) | (2,642 | ) | (1,667 | ) | |||||
Distributions paid to general partner | (207,087 | ) | (159,174 | ) | (146,372 | ) | |||||
Distributions paid to limited partners and redeemable noncontrolling interests | (5,308 | ) | (3,951 | ) | (2,156 | ) | |||||
Redemption of redeemable noncontrolling interest | — | (4,572 | ) | — | |||||||
Net cash provided by financing activities | 2,241,068 | 400,781 | 80,826 | ||||||||
Net change in cash, cash equivalents and restricted cash | 93,515 | (3,917 | ) | (2,250 | ) | ||||||
Cash, cash equivalents and restricted cash - beginning of year | 25,045 | 28,962 | 31,212 | ||||||||
Cash, cash equivalents and restricted cash - end of year | $ | 118,560 | $ | 25,045 | $ | 28,962 |
Year Ended December 31, | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Cash flows from operating activities: | |||||||||||||||||
Net income | $ | 99,784 | $ | 53,508 | $ | 30,758 | |||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||||
Depreciation and amortization | 283,300 | 283,039 | 280,969 | ||||||||||||||
Share-based compensation expense | 7,262 | 8,916 | 10,127 | ||||||||||||||
Impairment | 22,938 | — | — | ||||||||||||||
Income from unconsolidated joint venture | (1,604) | (1,612) | (1,882) | ||||||||||||||
Distributions from unconsolidated joint venture | 3,130 | 3,240 | 3,030 | ||||||||||||||
(Gain) loss on sale of real estate, net | (39,228) | (9,590) | 154 | ||||||||||||||
Loss on sale of corporate asset, net | 2,106 | — | — | ||||||||||||||
Loss on extinguishment of debt, net | — | 27,726 | 21,646 | ||||||||||||||
Changes in operating assets and liabilities: | |||||||||||||||||
Receivables and other assets, net | (4,699) | (11,042) | (12,857) | ||||||||||||||
Accounts payable and accrued liabilities | 9,430 | 2,066 | (128) | ||||||||||||||
Prepaid rent and other liabilities | 3,197 | 31,711 | 8,577 | ||||||||||||||
Net cash provided by operating activities | 385,616 | 387,962 | 340,394 | ||||||||||||||
Cash flows from investing activities: | |||||||||||||||||
Investments in real estate | (264,340) | (185,286) | (553,298) | ||||||||||||||
Development of real estate | (63,306) | (77,077) | (28,066) | ||||||||||||||
Proceeds from the sale of real estate | 87,628 | 22,939 | 4,880 | ||||||||||||||
Proceeds from the sale of corporate assets | 10,127 | — | — | ||||||||||||||
Capital expenditures | (97,155) | (74,743) | (91,544) | ||||||||||||||
Other investment | (6,000) | — | — | ||||||||||||||
Collection of real estate notes receivable | 15,405 | 907 | 739 | ||||||||||||||
Advances on real estate notes receivable | (82,214) | (6,000) | — | ||||||||||||||
Net cash used in investing activities | (399,855) | (319,260) | (667,289) | ||||||||||||||
Cash flows from financing activities: | |||||||||||||||||
Borrowings on unsecured revolving credit facility | 310,000 | 1,329,862 | 610,000 | ||||||||||||||
Payments on unsecured revolving credit facility | (310,000) | (1,429,862) | (510,000) | ||||||||||||||
Proceeds from unsecured senior notes | — | 793,568 | 906,927 | ||||||||||||||
Payments on unsecured senior notes | — | (300,000) | (700,000) | ||||||||||||||
Payments on secured mortgage loans | — | (114,060) | (97,361) | ||||||||||||||
Deferred financing costs | (8,053) | (6,800) | (7,776) | ||||||||||||||
Debt extinguishment costs | — | (25,939) | (18,383) | ||||||||||||||
Proceeds from issuance of general partner OP units | 251,250 | 50,020 | 323,393 | ||||||||||||||
Issuance of limited partner OP units | — | 1,378 | — | ||||||||||||||
Repurchase and cancellation of general partner OP units | (3,414) | (5,192) | (12,178) | ||||||||||||||
Distributions paid to general partner | (281,820) | (275,816) | (256,117) | ||||||||||||||
Distributions paid to limited partners and redeemable non-controlling interests | (5,420) | (4,712) | (8,758) | ||||||||||||||
Sale of non-controlling interest | — | — | 1,234 | ||||||||||||||
Net cash (used in) provided by financing activities | (47,457) | 12,447 | 230,981 | ||||||||||||||
Net change in cash, cash equivalents and restricted cash | (61,696) | 81,149 | (95,914) | ||||||||||||||
Cash, cash equivalents and restricted cash - beginning of year | 118,765 | 37,616 | 133,530 | ||||||||||||||
Cash, cash equivalents and restricted cash - end of year | $ | 57,069 | $ | 118,765 | $ | 37,616 |
Year Ended December 31, 2016 | Year Ended December 31, 2015 | ||||||||||||||
As Previously Reported | As Reclassified | As Previously Reported | As Reclassified | ||||||||||||
Cash flows from investing activities: | |||||||||||||||
Other assets (1) | $ | 2,078 | $ | — | $ | 4,711 | $ | (196 | ) | ||||||
Net cash used in investing activities | (606,315 | ) | (608,393 | ) | (269,264 | ) | (274,171 | ) | |||||||
Net change in cash, cash equivalents and restricted cash (2) | $ | (1,839 | ) | $ | (3,917 | ) | $ | 2,657 | $ | (2,250 | ) | ||||
Cash, cash equivalents and restricted cash - beginning of year (2) | 13,070 | 28,962 | 10,413 | 31,212 | |||||||||||
Cash, cash equivalents and restricted cash - end of year (2) | $ | 11,231 | $ | 25,045 | $ | 13,070 | $ | 28,962 | |||||||
(1) Prior to adoption of ASU 2016-18 line item description was Restricted cash, escrow deposits and other assets. | |||||||||||||||
(2) With the adoption of ASU 2016-18 line item description now includes restricted cash. |
December 31, | |||||||||||
2017 | 2016 | 2015 | |||||||||
Cash and cash equivalents | $ | 100,356 | $ | 11,231 | $ | 13,070 | |||||
Restricted cash | 18,204 | 13,814 | 15,892 | ||||||||
Total cash, cash equivalents and restricted cash | $ | 118,560 | $ | 25,045 | $ | 28,962 |
December 31, | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Cash and cash equivalents | $ | 52,353 | $ | 115,407 | $ | 32,713 | |||||||||||
Restricted cash | 4,716 | 3,358 | 4,903 | ||||||||||||||
Total cash, cash equivalents and restricted cash | $ | 57,069 | $ | 118,765 | $ | 37,616 |
December 31, 2021 | |||||
Land | $ | 2,401 | |||
Buildings and Improvements | 27,408 | ||||
Lease intangibles | 4,769 | ||||
34,578 | |||||
Accumulated depreciation and amortization | (8,148) | ||||
Real estate assets held for sale, net | 26,430 | ||||
Receivables and other assets, net | 640 | ||||
Assets held for sale, net | $ | 27,070 | |||
Intangible liabilities, net | $ | 262 | |||
Liabilities of assets held for sale | $ | 262 |
Stated Interest Rate | Maximum Loan Commitment | Outstanding Loan Amount | |||||||||||||||||||||||||||
Origination Date | Maturity Date | December 31, 2021 | |||||||||||||||||||||||||||
Mezzanine Loans - Texas (1) | 6/24/2021 | 6/24/2024 | 8 | % | $ | 54,119 | $ | 49,319 | |||||||||||||||||||||
Mezzanine Loan - North Carolina | 12/22/2021 | 12/22/2024 | 8 | % | 6,000 | 6,000 | |||||||||||||||||||||||
Mortgage Loan - Texas | 6/30/2021 | 7/1/2022 | 10 | % | 15,000 | 15,000 | |||||||||||||||||||||||
70,319 | |||||||||||||||||||||||||||||
Accrued interest receivable | 54 | ||||||||||||||||||||||||||||
Unamortized fees and costs | (526) | ||||||||||||||||||||||||||||
Unearned revenue | (733) | ||||||||||||||||||||||||||||
$ | 69,114 | ||||||||||||||||||||||||||||
(1) Interest on these mezzanine loans is accrued and funded utilizing interest reserves, which is included in the maximum loan commitment, and such accrued interest is added to the note receivable balance. | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Land | $ | 44,905 | $ | 15,242 | $ | 108,709 | |||||||||||
Building and improvements | 233,219 | 156,486 | 396,660 | ||||||||||||||
In place leases | 23,056 | 17,948 | 51,629 | ||||||||||||||
Below market leases | (4,592) | (1,132) | (5,187) | ||||||||||||||
Above market leases | 3,283 | 1,215 | 3,487 | ||||||||||||||
ROU assets | 300 | 1,527 | — | ||||||||||||||
Net assets acquired | 300,171 | 191,286 | 555,298 | ||||||||||||||
Other, net (1) | 8,593 | 432 | 5,158 | ||||||||||||||
Aggregate purchase price | $ | 308,764 | $ | 191,718 | $ | 560,456 | |||||||||||
(1) Other, net, consisted primarily of tenant improvements and capital expenditures received as credits at the time of acquisition. |
Year Ended December 31, | |||||||||||
2017 | 2016 | 2015 | |||||||||
Land | $ | 100,922 | $ | 85,017 | $ | 19,828 | |||||
Building and improvements | 2,358,771 | 559,930 | 246,911 | ||||||||
In place leases | 190,020 | 56,807 | 24,646 | ||||||||
Below market leases | (27,849 | ) | (13,792 | ) | (8,360 | ) | |||||
Above market leases | 12,180 | 4,626 | 1,336 | ||||||||
Below market leasehold interests | 54,252 | 4,189 | 2,698 | ||||||||
Above market leasehold interests | (8,978 | ) | (50 | ) | (7,725 | ) | |||||
Above market debt | — | (83 | ) | — | |||||||
Interest rate swaps | — | (779 | ) | — | |||||||
Net assets acquired | 2,679,318 | 695,865 | 279,334 | ||||||||
Other, net (1) | 60,913 | 4,899 | 1,526 | ||||||||
Aggregate purchase price | $ | 2,740,231 | $ | 700,764 | $ | 280,860 | |||||
(1) For the year ended December 31, 2017, other, net, consisted primarily of capital expenditures and tenant improvements received as credits at the time of acquisition. |
Year Ended December 31, | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Acquired intangible assets | 6.5 | 10.2 | 5.7 | ||||||||||||||
Acquired intangible liabilities | 8.0 | 7.1 | 7.0 |
Year Ended December 31, | |||||
2017 | 2016 | 2015 | |||
Acquired intangible assets | 20.2 | 8.4 | 24.8 | ||
Acquired intangible liabilities | 19.7 | 7.7 | 51.7 |
December 31, 2021 | December 31, 2020 | ||||||||||||||||||||||
Balance | Weighted Average Remaining Amortization in Years | Balance | Weighted Average Remaining Amortization in Years | ||||||||||||||||||||
Assets: | |||||||||||||||||||||||
In place leases | $ | 349,863 | 9.3 | $ | 483,779 | 9.7 | |||||||||||||||||
Tenant relationships | 54,851 | 10.8 | 144,842 | 10.0 | |||||||||||||||||||
Above market leases | 21,537 | 6.9 | 37,876 | 5.8 | |||||||||||||||||||
426,251 | 666,497 | ||||||||||||||||||||||
Accumulated amortization | (213,801) | (427,937) | |||||||||||||||||||||
Total | $ | 212,450 | 9.3 | $ | 238,560 | 9.6 | |||||||||||||||||
Liabilities: | |||||||||||||||||||||||
Below market leases | $ | 55,073 | 14.3 | $ | 61,896 | 14.6 | |||||||||||||||||
Accumulated amortization | (23,742) | (29,357) | |||||||||||||||||||||
Total | $ | 31,331 | 14.3 | $ | 32,539 | 14.6 | |||||||||||||||||
December 31, 2017 | December 31, 2016 | ||||||||||
Balance | Weighted Average Remaining Amortization in Years | Balance | Weighted Average Remaining Amortization in Years | ||||||||
Assets: | |||||||||||
In place leases | $ | 474,252 | 9.8 | $ | 294,597 | 9.7 | |||||
Tenant relationships | 164,947 | 10.2 | 172,974 | 10.6 | |||||||
Above market leases | 40,082 | 6.3 | 28,401 | 6.3 | |||||||
Below market leasehold interests | 92,362 | 63.4 | 38,136 | 60.4 | |||||||
771,643 | 534,108 | ||||||||||
Accumulated amortization | (312,655 | ) | (256,305 | ) | |||||||
Total | $ | 458,988 | 19.5 | $ | 277,803 | 16.1 | |||||
Liabilities: | |||||||||||
Below market leases | $ | 61,820 | 14.7 | $ | 34,370 | 18.6 | |||||
Above market leasehold interests | 20,610 | 50.1 | 11,632 | 53.0 | |||||||
82,430 | 46,002 | ||||||||||
Accumulated amortization | (14,227 | ) | (8,946 | ) | |||||||
Total | $ | 68,203 | 25.0 | $ | 37,056 | 28.5 |
Year Ended December 31, | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Amortization recorded against rental income related to above and (below) market leases | $ | (2,638) | $ | (4,056) | $ | (4,422) | |||||||||||
Amortization expense related to in place leases and tenant relationships | 45,447 | 55,138 | 60,363 | ||||||||||||||
Year | Assets | Liabilities | ||||||||||||
2022 | $ | 40,676 | $ | 5,254 | ||||||||||
2023 | 33,161 | 4,408 | ||||||||||||
2024 | 27,345 | 3,798 | ||||||||||||
2025 | 23,136 | 3,161 | ||||||||||||
2026 | 19,437 | 2,686 | ||||||||||||
Thereafter | 68,695 | 12,024 | ||||||||||||
Total | $ | 212,450 | $ | 31,331 |
Year Ended December 31, | |||||||||||
2017 | 2016 | 2015 | |||||||||
Amortization recorded against rental income related to above and (below) market leases | $ | (526 | ) | $ | 255 | $ | 1,936 | ||||
Rental expense related to above and (below) market leasehold interests | 880 | 453 | 414 | ||||||||
Amortization expense related to in place leases and tenant relationships | 64,896 | 52,213 | 47,444 |
Year | Assets | Liabilities | ||||||
2018 | $ | 71,892 | $ | 6,761 | ||||
2019 | 60,202 | 6,508 | ||||||
2020 | 47,572 | 5,742 | ||||||
2021 | 38,842 | 4,893 | ||||||
2022 | 30,884 | 4,432 | ||||||
Thereafter | 209,596 | 39,867 | ||||||
Total | $ | 458,988 | $ | 68,203 |
December 31, | |||||||||||
2021 | 2020 | ||||||||||
Tenant receivables, net | $ | 10,477 | $ | 17,717 | |||||||
Other receivables, net | 6,098 | 6,243 | |||||||||
Deferred financing costs, net | 7,055 | 2,586 | |||||||||
Deferred leasing costs, net | 45,008 | 43,234 | |||||||||
Straight-line rent receivables, net | 142,604 | 128,070 | |||||||||
Prepaid expenses, deposits, equipment and other, net | 38,301 | 46,114 | |||||||||
Real estate notes receivable, net | 69,114 | — | |||||||||
Finance ROU asset, net | 16,284 | 7,764 | |||||||||
Total | $ | 334,941 | $ | 251,728 | |||||||
December 31, | |||||||
2017 | 2016 | ||||||
Tenant receivables, net | $ | 20,269 | $ | 8,722 | |||
Other receivables, net | 9,305 | 9,233 | |||||
Deferred financing costs, net | 7,759 | 4,198 | |||||
Deferred leasing costs, net | 25,494 | 20,811 | |||||
Straight-line rent receivables, net | 85,143 | 74,052 | |||||
Prepaid expenses, deposits, equipment and other, net | 58,358 | 55,904 | |||||
Derivative financial instruments - interest rate swaps | 1,529 | 541 | |||||
Total | $ | 207,857 | $ | 173,461 |
Year Ended December 31, 2021 | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Amortization expense related to deferred leasing costs | $ | 8,831 | $ | 8,755 | $ | 7,976 | |||||||||||
Interest expense related to amortization of deferred financing costs | 1,753 | 1,724 | 1,724 |
Year Ended December 31, | |||||||||||
2017 | 2016 | 2015 | |||||||||
Amortization expense related to deferred leasing costs | $ | 5,672 | $ | 4,647 | $ | 4,177 | |||||
Interest expense related to deferred financing costs | 1,492 | 1,326 | 1,339 |
Year | Amount | |||||||
2022 | $ | 10,287 | ||||||
2023 | 9,263 | |||||||
2024 | 8,203 | |||||||
2025 | 6,939 | |||||||
2026 | 4,560 | |||||||
Thereafter | 12,811 | |||||||
Total | $ | 52,063 |
Year | Amount | |||
2018 | $ | 6,461 | ||
2019 | 5,751 | |||
2020 | 5,164 | |||
2021 | 5,178 | |||
2022 | 3,480 | |||
Thereafter | 7,219 | |||
Total | $ | 33,253 |
December 31, 2021 | ||||||||
Operating leases: | ||||||||
Weighted-average remaining lease term | 46.5 | |||||||
Weighted-average discount rate | 5.3 | % | ||||||
Finance leases: | ||||||||
Weighted-average remaining lease term | 48.1 | |||||||
Weighted-average discount rate | 3.8 | % |
Year | Operating leases | Finance leases | ||||||||||||
2022 | $ | 10,568 | $ | 630 | ||||||||||
2023 | 10,758 | 635 | ||||||||||||
2024 | 10,370 | 640 | ||||||||||||
2025 | 9,857 | 645 | ||||||||||||
2026 | 9,869 | 656 | ||||||||||||
Thereafter | 599,954 | 37,524 | ||||||||||||
Total undiscounted lease payments | $ | 651,376 | $ | 40,730 | ||||||||||
Less: Interest | (455,090) | (23,826) | ||||||||||||
Present value of lease liabilities | $ | 196,286 | $ | 16,904 |
Year | Amount | |||||||
2022 | $ | 569,363 | ||||||
2023 | 524,166 | |||||||
2024 | 466,821 | |||||||
2025 | 407,880 | |||||||
2026 | 360,766 | |||||||
Thereafter | 1,322,375 | |||||||
Total | $ | 3,651,371 |
December 31, | |||||||
2017 | 2016 | ||||||
Unsecured revolving credit facility | $ | — | $ | 88,000 | |||
Unsecured term loans | 500,000 | 500,000 | |||||
Unsecured senior notes | 1,850,000 | 950,000 | |||||
Fixed rate mortgages loans | 414,524 | 204,562 | |||||
Variable rate mortgages loans | 37,918 | 38,904 | |||||
2,802,442 | 1,781,466 | ||||||
Deferred financing costs, net | (15,850 | ) | (9,527 | ) | |||
Discount, net | (5,561 | ) | (3,034 | ) | |||
Total | $ | 2,781,031 | $ | 1,768,905 |
December 31, | |||||||||||
2021 | 2020 | ||||||||||
Unsecured revolving credit facility | $ | — | $ | — | |||||||
Unsecured term loans | 500,000 | 500,000 | |||||||||
Unsecured senior notes | 2,550,000 | 2,550,000 | |||||||||
Fixed rate mortgages | — | — | |||||||||
3,050,000 | 3,050,000 | ||||||||||
Deferred financing costs, net | (17,975) | (19,157) | |||||||||
Net premium (discount) | (3,903) | (3,844) | |||||||||
Total | $ | 3,028,122 | $ | 3,026,999 |
Year | Amount | |||||||
2022 | $ | — | ||||||
2023 | — | |||||||
2024 | 200,000 | |||||||
2025 | 300,000 | |||||||
2026 | 600,000 | |||||||
Thereafter | 1,950,000 | |||||||
Total | $ | 3,050,000 |
Year | Amount | |||
2018 | $ | 102,513 | ||
2019 | 107,676 | |||
2020 | 146,678 | |||
2021 | 305,772 | |||
2022 | 463,063 | |||
Thereafter | 1,676,740 | |||
Total | $ | 2,802,442 |
Year | Amount | |||||||
2022 | $ | 3,106 | ||||||
2023 | 3,106 | |||||||
2024 | 2,724 | |||||||
2025 | 2,603 | |||||||
2026 | 1,839 | |||||||
Thereafter | 4,597 | |||||||
Total | $ | 17,975 |
Year | Amount | |||
2018 | $ | 2,821 | ||
2019 | 2,827 | |||
2020 | 2,804 | |||
2021 | 2,610 | |||
2022 | 1,987 | |||
Thereafter | 2,801 | |||
Total | $ | 15,850 |
Cash Flow Hedges | December 31, 2021 | |||||||
Number of instruments | 7 | |||||||
Notional amount | $ | 500,000 |
Interest Rate Swaps | December 31, 2017 | |||
Number of instruments | 5 | |||
Notional amount | $ | 189,426 |
Asset Derivatives | Liability Derivatives | |||||||||||||||||||||||||||||||||||||
Fair Value at: | Fair Value at: | |||||||||||||||||||||||||||||||||||||
Derivatives Designated as Hedging Instruments: | Balance Sheet Location | December 31, 2021 | December 31, 2020 | Balance Sheet Location | December 31, 2021 | December 31, 2020 | ||||||||||||||||||||||||||||||||
Interest rate swaps | Receivables and other assets | $ | — | $ | — | Derivative financial instruments | $ | 5,069 | $ | 14,957 |
Asset Derivatives | Liability Derivatives | |||||||||||||||||||
Fair Value at: | Fair Value at: | |||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||
Derivatives Designated as Hedging Instruments: | Balance Sheet Location | 2017 | 2016 | Balance Sheet Location | 2017 | 2016 | ||||||||||||||
Interest rate swaps | Receivables and other assets | $ | 1,529 | $ | — | Derivative financial instruments | $ | 1,089 | $ | — |
Gain (Loss) Recognized in OCI on Derivative (Effective Portion): | Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion): | Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing): | ||||||||||||||||||||||||||
Year Ended December 31, | Year Ended December 31, | Year Ended December 31, | ||||||||||||||||||||||||||
Derivatives Cash Flow Hedging Relationships: | 2017 | 2016 | Statement of Operations Location | 2017 | 2016 | Statement of Operations Location | 2017 | 2016 | ||||||||||||||||||||
Interest rate swaps | $ | (338 | ) | $ | — | Interest related to derivative financial instruments | $ | (618 | ) | $ | — | Interest related to derivative financial instruments | $ | 43 | $ | — |
Year Ended December 31, | ||||||||||||||||||||||||||
Effect of Derivative Instruments | Operations and Comprehensive (Loss) Income | 2021 | 2020 | 2019 | ||||||||||||||||||||||
(Loss) gain recognized in OCI | Change in unrealized losses on cash flow hedges | $ | 3,393 | $ | (25,773) | $ | 5,910 | |||||||||||||||||||
(Loss) gain reclassified from accumulated OCI into income | Interest expense | (6,721) | (3,897) | 1,594 |
Asset Derivatives | Liability Derivatives | |||||||||||||||||||
Fair Value at: | Fair Value at: | |||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||
Derivatives NOT Designated as Hedging Instruments: | Balance Sheet Location | 2017 | 2016 | Balance Sheet Location | 2017 | 2016 | ||||||||||||||
Interest rate swaps | Receivables and other assets | $ | — | $ | 541 | Derivative financial instruments | $ | — | $ | 1,920 |
Offsetting of Derivative Assets | ||||||||||||||||||||||||
Gross Amounts of Recognized Assets | Gross Amounts in the Consolidated Balance Sheets | Net Amounts of Assets Presented in the Consolidated Balance Sheets | Financial Instruments | Cash Collateral Received | Net Amount | |||||||||||||||||||
December 31, 2017 | $ | 1,529 | $ | — | $ | 1,529 | $ | — | $ | — | $ | 1,529 | ||||||||||||
December 31, 2016 | 541 | — | 541 | — | — | 541 |
Offsetting of Derivative Liabilities | ||||||||||||||||||||||||
Gross Amounts of Recognized Liabilities | Gross Amounts in the Consolidated Balance Sheets | Net Amounts of Liabilities Presented in the Consolidated Balance Sheets | Financial Instruments | Cash Collateral Received | Net Amount | |||||||||||||||||||
December 31, 2017 | $ | 1,089 | $ | — | $ | 1,089 | $ | — | $ | — | $ | 1,089 | ||||||||||||
December 31, 2016 | 1,920 | — | 1,920 | — | — | 1,920 |
Year | Amount | |||
2018 | $ | 10,908 | ||
2019 | 11,035 | |||
2020 | 11,177 | |||
2021 | 11,332 | |||
2022 | 11,566 | |||
Thereafter | 916,180 | |||
Total | $ | 972,198 |
December 31, 2021 | December 31, 2020 | ||||||||||||||||||||||
Restricted Common Stock | Weighted Average Grant Date Fair Value | Restricted Common Stock | Weighted Average Grant Date Fair Value | ||||||||||||||||||||
Beginning balance | 436,399 | $ | 28.27 | 600,987 | $ | 28.04 | |||||||||||||||||
Granted | 552,989 | 28.14 | 273,503 | 29.83 | |||||||||||||||||||
Vested | (297,555) | 27.47 | (426,693) | 28.93 | |||||||||||||||||||
Forfeited | (161,971) | 27.47 | (11,398) | 28.88 | |||||||||||||||||||
Ending balance | 529,862 | $ | 28.83 | 436,399 | $ | 28.27 |
December 31, 2017 | December 31, 2016 | ||||||||||||
Restricted Common Stock | Weighted Average Grant Date Fair Value | Restricted Common Stock | Weighted Average Grant Date Fair Value | ||||||||||
Beginning balance | 640,870 | $ | 27.36 | 487,850 | $ | 23.13 | |||||||
Granted | 295,493 | 29.75 | 417,110 | 29.82 | |||||||||
Vested | (281,064 | ) | 25.33 | (237,999 | ) | 23.28 | |||||||
Forfeited | (65,693 | ) | 29.01 | (26,091 | ) | 26.09 | |||||||
Ending balance | 589,606 | $ | 29.38 | 640,870 | $ | 27.36 |
December 31, 2021 | December 31, 2020 | |||||||||||||||||||||||||
Carrying Amount | Fair Value | Carrying Amount | Fair Value | |||||||||||||||||||||||
Level 2 - Assets: | ||||||||||||||||||||||||||
Real estate notes receivable, net | $ | 69,114 | $ | 68,476 | $ | — | $ | — | ||||||||||||||||||
Level 2 - Liabilities: | ||||||||||||||||||||||||||
Derivative financial instruments | $ | 5,069 | $ | 5,069 | $ | 14,957 | $ | 14,957 | ||||||||||||||||||
Debt | 3,028,122 | 3,117,602 | 3,026,999 | 3,258,573 |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments | $ | — | $ | 1,529 | $ | — | $ | 1,529 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments | $ | — | $ | 1,089 | $ | — | $ | 1,089 |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Derivative financial instruments | $ | — | $ | 541 | $ | — | $ | 541 | ||||||||
Liabilities: | ||||||||||||||||
Derivative financial instruments | $ | — | $ | 1,920 | $ | — | $ | 1,920 |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
MOB (1) | $ | — | $ | 10,271 | $ | — | $ | 10,271 | ||||||||
(1) During the year ended December 31, 2017, we recognized $13.9 million of impairment charges to the carrying value of two MOBs and a portfolio of MOBs. The estimated fair value as of December 31, 2017 for these MOBs was based upon a pending sales agreement and real estate market comparables. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
MOB (1) | $ | — | $ | 8,191 | $ | — | $ | 8,191 | ||||||||
(1) During the year ended December 31, 2016, we recognized impairment charges of $1.3 million and $1.8 million to the carrying value of two MOBs. The estimated fair value as of December 31, 2016 for these two MOBs was based upon a pending sales agreement and real estate market comparables. |
December 31, 2021 | December 31, 2020 | |||||||||||||
Fair Value | Fair Value | |||||||||||||
Level 2 - Assets: | ||||||||||||||
Real estate investment | $ | 26,768 | $ | — | ||||||||||
Level 3 - Assets: | ||||||||||||||
Real estate investments | $ | 4,970 | $ | — |
Year Ended December 31, | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Numerator: | |||||||||||||||||
Net income | $ | 99,784 | $ | 53,508 | $ | 30,758 | |||||||||||
Net income attributable to non-controlling interests | (1,768) | (890) | (604) | ||||||||||||||
Net income attributable to common stockholders | $ | 98,016 | $ | 52,618 | $ | 30,154 | |||||||||||
Denominator: | |||||||||||||||||
Weighted average shares outstanding - basic | 219,439 | 218,078 | 205,720 | ||||||||||||||
Dilutive shares - OP Units convertible into common stock | 3,860 | 3,588 | 3,885 | ||||||||||||||
Dilutive effect of forward equity sales agreement | 916 | — | — | ||||||||||||||
Adjusted weighted average shares outstanding - diluted | 224,215 | 221,666 | 209,605 | ||||||||||||||
Earnings per common share - basic | |||||||||||||||||
Net income attributable to common stockholders | $ | 0.45 | $ | 0.24 | $ | 0.15 | |||||||||||
Earnings per common share - diluted | |||||||||||||||||
Net income attributable to common stockholders | $ | 0.44 | $ | 0.24 | $ | 0.14 |
Year Ended December 31, | |||||||||||
2017 | 2016 | 2015 | |||||||||
Numerator: | |||||||||||
Net income | $ | 65,577 | $ | 47,345 | $ | 33,557 | |||||
Net income attributable to noncontrolling interests | (1,661 | ) | (1,433 | ) | (626 | ) | |||||
Net income attributable to common stockholders | $ | 63,916 | $ | 45,912 | $ | 32,931 | |||||
Denominator: | |||||||||||
Weighted average shares outstanding - basic | 181,064 | 136,620 | 126,074 | ||||||||
Dilutive shares - partnership units convertible into common stock | 4,197 | 3,639 | 1,930 | ||||||||
Dilutive effect of forward equity sales agreement | 17 | — | — | ||||||||
Adjusted weighted average shares outstanding - diluted | 185,278 | 140,259 | 128,004 | ||||||||
Earnings per common share - basic | |||||||||||
Net income attributable to common stockholders | $ | 0.35 | $ | 0.34 | $ | 0.26 | |||||
Earnings per common share - diluted | |||||||||||
Net income attributable to common stockholders | $ | 0.34 | $ | 0.33 | $ | 0.26 |
Year Ended December 31, | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Numerator: | |||||||||||||||||
Net income | $ | 99,784 | $ | 53,508 | $ | 30,758 | |||||||||||
Net income attributable to non-controlling interests | — | — | (66) | ||||||||||||||
Net income attributable to common OP unitholders | $ | 99,784 | $ | 53,508 | $ | 30,692 | |||||||||||
Denominator: | |||||||||||||||||
Weighted average units outstanding - basic | 223,299 | 221,666 | 209,605 | ||||||||||||||
Dilutive units - OP Units convertible into common units | — | — | — | ||||||||||||||
Dilutive effect of forward equity sales agreement | 916 | — | — | ||||||||||||||
Adjusted weighted average OP units outstanding - diluted | 224,215 | 221,666 | 209,605 | ||||||||||||||
Earnings per common unit - basic: | |||||||||||||||||
Net income attributable to common OP unitholders | $ | 0.45 | $ | 0.24 | $ | 0.15 | |||||||||||
Earnings per common unit - diluted: | |||||||||||||||||
Net income attributable to common OP unitholders | $ | 0.45 | $ | 0.24 | $ | 0.15 |
Year Ended December 31, | |||||||||||
2017 | 2016 | 2015 | |||||||||
Numerator: | |||||||||||
Net income | $ | 65,577 | $ | 47,345 | $ | 33,557 | |||||
Net income attributable to noncontrolling interests | (123 | ) | (118 | ) | (112 | ) | |||||
Net income attributable to common unitholders | $ | 65,454 | $ | 47,227 | $ | 33,445 | |||||
Denominator: | |||||||||||
Weighted average units outstanding - basic | 185,261 | 140,259 | 128,079 | ||||||||
Dilutive units - partnership units convertible into common units | — | — | — | ||||||||
Dilutive effect of forward equity sales agreement | 17 | — | — | ||||||||
Adjusted weighted average units outstanding - diluted | 185,278 | 140,259 | 128,079 | ||||||||
Earnings per common unit - basic: | |||||||||||
Net income attributable to common unitholders | $ | 0.35 | $ | 0.34 | $ | 0.26 | |||||
Earnings per common unit - diluted: | |||||||||||
Net income attributable to common unitholders | $ | 0.35 | $ | 0.34 | $ | 0.26 |
Year Ended December 31, | |||||||||||
2017 | 2016 | 2015 | |||||||||
Supplemental Disclosure of Cash Flow Information: | |||||||||||
Interest paid | $ | 64,988 | $ | 50,883 | $ | 52,688 | |||||
Income taxes paid | 1,333 | 1,059 | 996 | ||||||||
Supplemental Disclosure of Noncash Investing and Financing Activities: | |||||||||||
Accrued capital expenditures | $ | 3,155 | $ | 5,092 | $ | 5,696 | |||||
Debt and interest rate swaps assumed and entered into in connection with an acquisition | 286,000 | 28,163 | — | ||||||||
Dividend distributions declared, but not paid | 63,823 | 43,867 | 37,886 | ||||||||
Issuance of operating partnership units in connection with acquisitions | 1,125 | 71,754 | — | ||||||||
Note receivable included in the consideration of a disposition | — | 12,737 | — | ||||||||
Note receivable retired in connection with an acquisition | 8,611 | — | — | ||||||||
Redeemable noncontrolling interest assumed in connection with an acquisition | — | 4,773 | — | ||||||||
Redemption of noncontrolling interest | 5,943 | 5,709 | — |
Year Ended December 31, | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Supplemental Disclosure of Cash Flow Information: | |||||||||||||||||
Interest paid, net of capitalized interest | $ | 80,367 | $ | 83,375 | $ | 94,668 | |||||||||||
Cash paid for operating leases | 15,108 | 12,465 | 11,842 | ||||||||||||||
Supplemental Disclosure of Noncash Investing and Financing Activities: | |||||||||||||||||
Accrued capital and development expenditures | $ | 12,696 | $ | 31,807 | $ | 6,381 | |||||||||||
Conversion of notes receivable to investments in real estate | 1,142 | — | — | ||||||||||||||
Extinguishment of finance ground lease from land acquisition | — | 1,710 | — | ||||||||||||||
Dividend distributions declared, but not paid | 75,723 | 71,423 | 69,468 | ||||||||||||||
Issuance of OP Units in HTALP | — | — | 2,603 | ||||||||||||||
Issuance of OP Units in HTALP in connection with an acquisition | 35,785 | — | 2,000 | ||||||||||||||
Note receivable retired in connection with an acquisition | — | 6,000 | — | ||||||||||||||
Redemption of non-controlling interest | 6,354 | 9,019 | 7,527 | ||||||||||||||
ROU assets obtained in exchange for lease obligations | 8,798 | 4,373 | 200,879 |
Year Ended December 31, | ||||||||||||||||||||
2021 | 2020 | 2019 | ||||||||||||||||||
Ordinary income | $ | 0.7920 | $ | 0.6976 | $ | 0.6405 | ||||||||||||||
Return of capital | 0.4930 | 0.5582 | 0.6045 | |||||||||||||||||
Capital gain | 0.0000 | 0.0092 | 0.0000 | |||||||||||||||||
Total | $ | 1.2850 | $ | 1.2650 | $ | 1.2450 |
Year Ended December 31, | ||||||||||||
2017 | 2016 | 2015 | ||||||||||
Ordinary income | $ | 0.7479 | $ | 0.8970 | $ | 0.6634 | ||||||
Return of capital | 0.3720 | 0.2880 | 0.2116 | |||||||||
Capital gain | 0.0851 | 0.0000 | 0.0000 | |||||||||
Total | $ | 1.2050 | $ | 1.1850 | $ | 0.8750 |
Year | Amount | |||
2018 | $ | 512,216 | ||
2019 | 474,815 | |||
2020 | 425,433 | |||
2021 | 380,282 | |||
2022 | 323,142 | |||
Thereafter | 1,418,110 | |||
Total | $ | 3,533,998 |
Quarter Ended (1) | ||||||||||||||||||||||||||
2021 | March 31 | June 30 | September 30 | December 31 | ||||||||||||||||||||||
Revenues | $ | 191,493 | $ | 188,615 | $ | 191,262 | $ | 195,703 | ||||||||||||||||||
Net income | 22,393 | 38,739 | 22,042 | 16,610 | ||||||||||||||||||||||
Net income attributable to common stockholders | 22,030 | 38,011 | 21,672 | 16,303 | ||||||||||||||||||||||
Earnings per common share - basic: | ||||||||||||||||||||||||||
Net income attributable to common stockholders | $ | 0.10 | $ | 0.17 | $ | 0.10 | $ | 0.07 | ||||||||||||||||||
Earnings per common share - diluted: | ||||||||||||||||||||||||||
Net income attributable to common stockholders | $ | 0.10 | $ | 0.17 | $ | 0.10 | $ | 0.07 | ||||||||||||||||||
(1) The sum of the individual quarterly amounts may not agree to the annual amounts included in the accompanying consolidated statements of operations due to rounding. |
Quarter Ended (1) | ||||||||||||||||
2017 | March 31 | June 30 | September 30 | December 31 | ||||||||||||
Revenues | $ | 124,347 | $ | 139,879 | $ | 175,994 | $ | 173,770 | ||||||||
Net income (loss) | 14,000 | (5,852 | ) | 13,957 | 43,472 | |||||||||||
Net income (loss) attributable to common stockholders | 13,545 | (5,918 | ) | 13,763 | 42,526 | |||||||||||
Earnings per common share - basic: | ||||||||||||||||
Net income (loss) attributable to common stockholders | $ | 0.10 | $ | (0.03 | ) | $ | 0.07 | $ | 0.21 | |||||||
Earnings per common share - diluted: | ||||||||||||||||
Net income (loss) attributable to common stockholders | $ | 0.09 | $ | (0.03 | ) | $ | 0.07 | $ | 0.20 | |||||||
(1) The sum of the individual quarterly amounts may not agree to the annual amounts included in the accompanying consolidated statements of operations due to rounding. |
Quarter Ended (1) | ||||||||||||||||||||||||||
2020 | March 31 | June 30 | September 30 | December 31 | ||||||||||||||||||||||
Revenues | $ | 185,776 | $ | 178,845 | $ | 187,326 | $ | 187,018 | ||||||||||||||||||
Net income (loss) | 18,208 | 13,725 | (6,932) | 28,507 | ||||||||||||||||||||||
Net income (loss) attributable to common stockholders | 17,901 | 13,489 | (6,827) | 28,055 | ||||||||||||||||||||||
Earnings per common share - basic: | ||||||||||||||||||||||||||
Net income (loss) attributable to common stockholders | $ | 0.08 | $ | 0.06 | $ | (0.03) | $ | 0.13 | ||||||||||||||||||
Earnings per common share - diluted: | ||||||||||||||||||||||||||
Net income (loss) attributable to common stockholders | $ | 0.08 | $ | 0.06 | $ | (0.03) | $ | 0.13 | ||||||||||||||||||
(1) The sum of the individual quarterly amounts may not agree to the annual amounts included in the accompanying consolidated statements of operations due to rounding. |
Quarter Ended (1) | ||||||||||||||||
2016 | March 31 | June 30 | September 30 | December 31 | ||||||||||||
Revenues | $ | 107,315 | $ | 113,234 | $ | 118,340 | $ | 122,039 | ||||||||
Net income | 10,036 | 13,516 | 6,639 | 17,154 | ||||||||||||
Net income attributable to common stockholders | 9,860 | 13,074 | 6,427 | 16,551 | ||||||||||||
Earnings per common share - basic: | ||||||||||||||||
Net income attributable to common stockholders | $ | 0.08 | $ | 0.10 | $ | 0.05 | $ | 0.12 | ||||||||
Earnings per common share - diluted: | ||||||||||||||||
Net income attributable to common stockholders | $ | 0.08 | $ | 0.09 | $ | 0.04 | $ | 0.11 | ||||||||
(1) The sum of the individual quarterly amounts may not agree to the annual amounts included in the accompanying consolidated statements of operations due to rounding. |
Quarter Ended (1) | ||||||||||||||||||||||||||
2021 | March 31 | June 30 | September 30 | December 31 | ||||||||||||||||||||||
Revenues | $ | 191,493 | $ | 188,615 | $ | 191,262 | $ | 195,703 | ||||||||||||||||||
Net income | 22,393 | 38,739 | 22,042 | 16,610 | ||||||||||||||||||||||
Net income attributable to common OP unitholders | 22,393 | 38,739 | 22,042 | 16,610 | ||||||||||||||||||||||
Earnings per common OP unit - basic: | ||||||||||||||||||||||||||
Net income attributable to common OP unitholders | $ | 0.10 | $ | 0.17 | $ | 0.10 | $ | 0.07 | ||||||||||||||||||
Earnings per common OP unit - diluted: | ||||||||||||||||||||||||||
Net income attributable to common OP unitholders | $ | 0.10 | $ | 0.17 | $ | 0.10 | $ | 0.07 | ||||||||||||||||||
(1) The sum of the individual quarterly amounts may not agree to the annual amounts included in the accompanying consolidated statements of operations due to rounding. |
Quarter Ended (1) | ||||||||||||||||||||||||||
2020 | March 31 | June 30 | September 30 | December 31 | ||||||||||||||||||||||
Revenues | $ | 185,776 | $ | 178,845 | $ | 187,326 | $ | 187,018 | ||||||||||||||||||
Net income (loss) | 18,208 | 13,725 | (6,932) | 28,507 | ||||||||||||||||||||||
Net income (loss) attributable to common OP unitholders | 18,208 | 13,725 | (6,932) | 28,507 | ||||||||||||||||||||||
Earnings per common OP unit - basic: | ||||||||||||||||||||||||||
Net income (loss) attributable to common OP unitholders | $ | 0.08 | $ | 0.06 | $ | (0.03) | $ | 0.13 | ||||||||||||||||||
Earnings per common OP unit - diluted: | ||||||||||||||||||||||||||
Net income (loss) attributable to common OP unitholders | $ | 0.08 | $ | 0.06 | $ | (0.03) | $ | 0.13 | ||||||||||||||||||
(1) The sum of the individual quarterly amounts may not agree to the annual amounts included in the accompanying consolidated statements of operations due to rounding. |
Quarter Ended (1) | |||||||||||||||||
2017 | March 31 | June 30 | September 30 | December 31 | |||||||||||||
Revenues | $ | 124,347 | $ | 139,879 | $ | 175,994 | $ | 173,770 | |||||||||
Net income (loss) | 14,000 | (5,852 | ) | 13,957 | 43,472 | ||||||||||||
Net income (loss) attributable to common unitholders | 13,970 | (5,874 | ) | 13,929 | 43,429 | ||||||||||||
Earnings per common unit - basic: | |||||||||||||||||
Net income (loss) attributable to common unitholders | $ | 0.10 | $ | (0.03 | ) | $ | 0.07 | $ | 0.21 | ||||||||
Earnings per common unit - diluted: | |||||||||||||||||
Net income (loss) attributable to common unitholders | $ | 0.10 | $ | (0.03 | ) | $ | 0.07 | $ | 0.21 | ||||||||
(1) The sum of the individual quarterly amounts may not agree to the annual amounts included in the accompanying consolidated statements of operations due to rounding. |
Quarter Ended (1) | |||||||||||||||||
2016 | March 31 | June 30 | September 30 | December 31 | |||||||||||||
Revenues | $ | 107,315 | $ | 113,234 | $ | 118,340 | $ | 122,039 | |||||||||
Net income | 10,036 | 13,516 | 6,639 | 17,154 | |||||||||||||
Net income attributable to common unitholders | 10,005 | 13,520 | 6,638 | 17,064 | |||||||||||||
Earnings per common unit - basic: | |||||||||||||||||
Net income attributable to common unitholders | $ | 0.08 | $ | 0.10 | $ | 0.05 | $ | 0.12 | |||||||||
Earnings per common unit - diluted: | |||||||||||||||||
Net income attributable to common unitholders | $ | 0.08 | $ | 0.10 | $ | 0.05 | $ | 0.12 | |||||||||
(1) The sum of the individual quarterly amounts may not agree to the annual amounts included in the accompanying consolidated statements of operations due to rounding. |
Balance at Beginning of Period | Charged to Expenses | Adjustments to Valuation Accounts | Deductions | Balance at End of Period | |||||||||||||||
2017 - Allowance for doubtful accounts | $ | 2,024 | $ | 438 | $ | — | $ | (226 | ) | $ | 2,236 | ||||||||
2016 - Allowance for doubtful accounts | 2,150 | 846 | — | (972 | ) | 2,024 | |||||||||||||
2015 - Allowance for doubtful accounts | 2,017 | 828 | — | (695 | ) | 2,150 |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Gross Amount at Which Carried at Close of Period | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Encumbrances | Land | Buildings, Improvements and Fixtures | Land | Buildings, Improvements and Fixtures | Total (c) | Accumulated Depreciation (f) | Date of Construction | Date Acquired | Life on Which Building Depreciation in Income Statement is Computed (h) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating Properties: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shelby MOBs | Alabaster, AL | $ | — | $ | — | $ | 25,095 | $ | 2,686 | $ | — | $ | 27,781 | $ | 27,781 | $ | (5,390) | 1995-1998 | 2016 | 36 | ||||||||||||||||||||||||||||||||||||||||||||||||
Simon Williamson Clinic | Birmingham, AL | — | — | 25,689 | (156) | — | 25,533 | 25,533 | (4,489) | 2007 | 2016 | 36 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jasper | Jasper, AL | — | — | 5,973 | 325 | — | 6,298 | 6,298 | (1,563) | 1979 | 2016 | 25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Phoenix Med Center | Glendale, AZ | — | 453 | 2,768 | 841 | 453 | 3,609 | 4,062 | (1,311) | 1989 | 2011 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Thunderbird MOP | Glendale, AZ | — | 3,842 | 19,679 | 2,198 | 3,842 | 21,877 | 25,719 | (9,597) | 1976-1987 | 2007 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Peoria MOB | Peoria, AZ | — | 605 | 4,394 | 2,248 | 605 | 6,642 | 7,247 | (2,115) | 2000 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Baptist MC | Phoenix, AZ | — | — | 12,637 | 3,661 | — | 16,298 | 16,298 | (6,113) | 1973 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Desert Ridge MOB | Phoenix, AZ | — | — | 27,738 | 2,690 | — | 30,428 | 30,428 | (9,779) | 2004-2006 | 2011 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dignity Phoenix MOBs | Phoenix, AZ | — | — | 66,106 | 1,342 | — | 67,448 | 67,448 | (10,483) | 1984-1997 | 2017 | 20-39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estrella Med Center | Phoenix, AZ | — | — | 24,703 | 2,142 | — | 26,845 | 26,845 | (9,240) | 2004 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sun City Boswell MOBs | Sun City, AZ | — | — | 12,642 | 4,464 | — | 17,106 | 17,106 | (6,672) | 1971-2001 | 2009 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sun City Boswell West | Sun City, AZ | — | — | 6,610 | 1,913 | — | 8,523 | 8,523 | (3,354) | 1992 | 2009 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sun City Webb MP | Sun City, AZ | — | — | 16,188 | 4,021 | — | 20,209 | 20,209 | (7,808) | 1997-2004 | 2009 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sun City West MOBs | Sun City, AZ | — | 744 | 13,466 | 4,160 | 744 | 17,626 | 18,370 | (6,936) | 1987-2002 | 2009 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gateway Med Plaza | Tucson, AZ | — | — | 14,005 | 565 | — | 14,570 | 14,570 | (4,629) | 2008 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tucson Academy MOP | Tucson, AZ | — | 1,193 | 6,107 | 1,396 | 1,193 | 7,503 | 8,696 | (3,071) | 1978 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tucson Desert Life MOP | Tucson, AZ | — | 1,309 | 17,572 | 6,466 | 1,309 | 24,038 | 25,347 | (10,468) | 1980 -1984 | 2007 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bakersfield Medical Office Building | Bakersfield, CA | — | — | — | 28,695 | — | 28,695 | 28,695 | (293) | 2021 | 2020 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dignity Mercy MOBs | Bakersfield, CA | — | — | 15,207 | (240) | — | 14,967 | 14,967 | (2,144) | 1992 | 2017 | 35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5995 Plaza Drive | Cypress, CA | — | 5,109 | 17,961 | 2,703 | 5,109 | 20,664 | 25,773 | (7,860) | 1986 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dignity Glendale MOB | Glendale, CA | — | — | 7,244 | 257 | — | 7,501 | 7,501 | (1,530) | 1980 | 2017 | 30 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3rd Street MOB | Los Angeles, CA | — | 10,603 | 63,419 | 2,070 | 10,603 | 65,489 | 76,092 | (5,750) | 1990 | 2019 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mission Medical Center MOBs | Mission Viejo, CA | — | 21,911 | 117,672 | 7,416 | 21,911 | 125,088 | 146,999 | (18,184) | 1972-1985 | 2016 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dignity Northridge MOBs | Northridge, CA | — | — | 21,467 | 1,250 | — | 22,717 | 22,717 | (3,657) | 1979-1994 | 2017 | 30-35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
San Luis Obispo MOB | San Luis Obispo, CA | — | — | 11,900 | 985 | — | 12,885 | 12,885 | (4,169) | 2009 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Facey MOB | Santa Clarita, CA | — | 6,452 | 5,586 | 19,641 | 6,452 | 25,227 | 31,679 | (3,447) | 2018 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dignity Marian MOBs | Santa Maria, CA | — | — | 13,646 | 726 | — | 14,372 | 14,372 | (2,940) | 1994-1995 | 2017 | 17-38 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Premier Health Plaza | Colorado Springs, CO | — | 1,672 | 10,954 | 113 | 1,668 | 11,071 | 12,739 | (307) | 2001 | 2021 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rampart MOB | Denver, CO | — | 3,794 | 13,077 | 434 | 3,794 | 13,511 | 17,305 | (1,017) | 1983-1995 | 2019 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SCL Health MOBs | Denver, CO | — | 11,652 | 104,327 | 10,372 | 11,652 | 114,699 | 126,351 | (14,592) | 2015-2017 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hampden Place MOB | Englewood, CO | — | 3,032 | 12,553 | 475 | 3,032 | 13,028 | 16,060 | (4,095) | 2004 | 2009 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Highlands Ranch MOP | Highlands Ranch, CO | — | 2,240 | 10,426 | 8,385 | 2,240 | 18,811 | 21,051 | (8,692) | 1983-1985 | 2007 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lone Tree Medical Office Buildings | Lone Tree, CO | — | 3,736 | 29,546 | 2,313 | 3,736 | 31,859 | 35,595 | (7,115) | 2004-2008 | 2014 | 38 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lincoln Medical Center | Parker, CO | — | 5,142 | 28,638 | 1,682 | 5,142 | 30,320 | 35,462 | (7,894) | 2008 | 2013 | 39 |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Gross Amount at Which Carried at Close of Period | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Encumbrances | Land | Buildings, Improvements and Fixtures | Land | Buildings, Improvements and Fixtures | Total (c) | Accumulated Depreciation (f) | Date of Construction | Date Acquired | Life on Which Building Depreciation in Income Statement is Computed (h) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
80 Fisher | Avon, CT | $ | — | $ | — | $ | 5,094 | $ | 1 | $ | — | $ | 5,095 | $ | 5,095 | $ | (1,414) | 2008 | 2016 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||
533 Cottage - Northwestern | Bloomfield, CT | — | 726 | 3,964 | (527) | 726 | 3,437 | 4,163 | (749) | 1955 | 2016 | 35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Northwestern MOBs | Bloomfield, CT | — | 1,369 | 6,287 | 732 | 1,369 | 7,019 | 8,388 | (1,865) | 1985 | 2016 | 35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
406 Farmington | Farmington, CT | — | 379 | 3,509 | 3 | 379 | 3,512 | 3,891 | (692) | 1988 | 2016 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
704 Hebron | Glastonbury, CT | — | 2,223 | 6,544 | 20 | 2,223 | 6,564 | 8,787 | (1,575) | 2001 | 2016 | 37 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gateway MOBs | Glastonbury, CT | — | 11,328 | 41,320 | 10,291 | 13,448 | 49,491 | 62,939 | (10,190) | 2007-2017 | 2016-2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hamden MOB | Hamden, CT | — | 4,925 | 36,835 | 69 | 4,925 | 36,904 | 41,829 | (2,356) | 1970-1972 | 2019 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Haynes MOBs | Manchester, CT | — | 1,100 | 14,620 | 6 | 1,100 | 14,626 | 15,726 | (2,681) | 2007-2010 | 2016 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pomeroy MOBs | Meriden, CT | — | 1,774 | 10,078 | (48) | 1,774 | 10,030 | 11,804 | (2,412) | 2009-2011 | 2016 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Saybrook MOBs | Middleton, CT | — | — | 10,314 | 887 | — | 11,201 | 11,201 | (2,711) | 1989 | 2016 | 28 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Yale Long Wharf | New Haven, CT | — | 9,367 | 58,691 | 7,707 | 7,791 | 67,974 | 75,765 | (17,824) | 1977 | 2016 | 30 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Devine MOBs | North Haven, CT | — | 3,606 | 27,278 | 1,708 | 3,606 | 28,986 | 32,592 | (5,301) | 2006-2017 | 2016-2017 | 35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Evergreen MOBs | South Windsor, CT | — | 5,565 | 25,839 | (81) | 5,833 | 25,490 | 31,323 | (4,845) | 2006-2011 | 2016 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Westport Center | Westport, CT | — | 3,311 | 13,296 | 843 | 3,311 | 14,139 | 17,450 | (1,364) | 1985 | 2019 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Day Hill MOBs | Windsor, CT | — | 3,980 | 7,055 | 34 | 3,980 | 7,089 | 11,069 | (2,166) | 1990-1999 | 2016 | 30 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Clint Moore Medical Facility | Boca Raton, FL | — | 20,051 | 27,157 | 64 | 20,072 | 27,200 | 47,272 | (384) | 1996 | 2021 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Riverside MOB | Bradenton, FL | — | 2,230 | 7,689 | 354 | 2,230 | 8,043 | 10,273 | (1,886) | 1980 | 2016 | 25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Brandon MOP | Brandon, FL | — | 901 | 6,946 | 867 | 901 | 7,813 | 8,714 | (2,807) | 1997 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
McMullen MOB | Clearwater, FL | — | 3,470 | 12,621 | (613) | 3,470 | 12,008 | 15,478 | (2,907) | 2009 | 2014 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Orlando Rehab Hospital | Edgewood, FL | — | 2,600 | 20,256 | 3,000 | 2,600 | 23,256 | 25,856 | (8,425) | 2007 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Palmetto MOB | Hialeah, FL | — | — | 15,512 | 5,487 | — | 20,999 | 20,999 | (7,775) | 1980 | 2013 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Palmetto II | Hialeah, FL | — | — | 51,480 | 75 | — | 51,555 | 51,555 | (1,673) | 1992 | 2020 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
East FL Senior Jacksonville | Jacksonville, FL | — | 4,291 | 9,220 | (736) | 4,291 | 8,484 | 12,775 | (3,647) | 1985 | 2007 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
King Street MOB | Jacksonville, FL | — | — | 7,232 | 86 | — | 7,318 | 7,318 | (2,445) | 2007 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jupiter MP | Jupiter, FL | — | 1,204 | 11,778 | 1,283 | 1,204 | 13,061 | 14,265 | (3,336) | 1996-1997 | 2013 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Central FL SC | Lakeland, FL | — | 768 | 3,002 | 511 | 768 | 3,513 | 4,281 | (1,549) | 1995 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vista Pro Center MOP | Lakeland, FL | — | 1,082 | 3,587 | 569 | 1,082 | 4,156 | 5,238 | (1,582) | 1996-1999 | 2007-2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Largo Medical Center | Largo, FL | — | — | 51,045 | 660 | — | 51,705 | 51,705 | (11,897) | 2009 | 2013 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Largo MOP | Largo, FL | — | 729 | 8,908 | 1,496 | 729 | 10,404 | 11,133 | (4,234) | 1975-1986 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FL Family Medical Center | Lauderdale Lakes, FL | — | — | 4,257 | 1,271 | — | 5,528 | 5,528 | (2,519) | 1978 | 2013 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Medical Park | Margate, FL | — | — | 9,525 | (297) | 5 | 9,223 | 9,228 | (2,138) | 2009 | 2013 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Coral Reef | Miami, FL | — | 1,160 | — | 18,454 | 1,160 | 18,454 | 19,614 | (343) | 2021 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
North Shore MOB | Miami, FL | — | — | 4,942 | 1,592 | — | 6,534 | 6,534 | (2,889) | 1978 | 2013 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sunset Professional and Kendall MOBs | Miami, FL | — | 11,855 | 13,633 | 6,679 | 11,855 | 20,312 | 32,167 | (7,506) | 1954-2006 | 2014 | 27 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commons V MOB | Naples, FL | — | 4,173 | 9,070 | 2,788 | 4,173 | 11,858 | 16,031 | (4,642) | 1990 | 2007 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Orlando Lake Underhill MOB | Orlando, FL | — | — | 8,515 | 428 | — | 8,943 | 8,943 | (2,837) | 2000 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Florida Hospital MOBs | Orlando, Sebring and Tampa, FL | — | — | 151,647 | 3,185 | — | 154,832 | 154,832 | (21,818) | 2006-2012 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Orlando Oviedo MOB | Oviedo, FL | — | — | 5,711 | 926 | — | 6,637 | 6,637 | (2,364) | 1998 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Heart & Family Health MOB | Port St. Lucie, FL | — | 686 | 8,102 | 15 | 686 | 8,117 | 8,803 | (2,248) | 2008 | 2013 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
St. Lucie MC | Port St. Lucie, FL | — | — | 6,127 | (41) | — | 6,086 | 6,086 | (1,473) | 2008 | 2013 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
East FL Senior Sunrise | Sunrise, FL | — | 2,947 | 12,825 | (1,006) | 2,947 | 11,819 | 14,766 | (4,641) | 1989 | 2007 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tallahassee Rehab Hospital | Tallahassee, FL | — | 7,142 | 18,691 | 2,400 | 7,142 | 21,091 | 28,233 | (7,903) | 2007 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Optimal MOBs | Tampa, FL | — | 4,002 | 69,824 | 552 | 4,002 | 70,376 | 74,378 | (10,921) | 2005-2015 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tampa Medical Village MOB | Tampa, FL | — | 3,627 | 14,806 | 1,295 | 3,627 | 16,101 | 19,728 | (2,906) | 2003 | 2017 | 35 |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Gross Amount at Which Carried at Close of Period | ||||||||||||||||||||||||||||||||||||
Encumbrances | Land | Buildings, Improvements and Fixtures | Land | Buildings, Improvements and Fixtures | Total (c) | Accumulated Depreciation (f) | Date of Construction | Date Acquired | Life on Which Building Depreciation in Income Statement is Computed (h) | |||||||||||||||||||||||||||||
Shelby MOBs | Alabaster, AL | $ | — | $ | — | $ | 25,095 | $ | 703 | $ | — | $ | 25,798 | $ | 25,798 | $ | (1,329 | ) | 1995-1998 | 2016 | 36 | |||||||||||||||||
Simon Williamson Clinic | Birmingham, AL | — | — | 25,689 | 4 | — | 25,693 | 25,693 | (1,278 | ) | 2007 | 2016 | 36 | |||||||||||||||||||||||||
Jasper | Jasper, AL | — | — | 5,973 | 74 | — | 6,047 | 6,047 | (450 | ) | 1979 | 2016 | 25 | |||||||||||||||||||||||||
Phoenix Med Center | Glendale, AZ | — | 453 | 2,768 | 553 | 453 | 3,321 | 3,774 | (1,024 | ) | 1989 | 2011 | 39 | |||||||||||||||||||||||||
Thunderbird MOP | Glendale, AZ | — | 3,842 | 19,679 | 4,025 | 3,842 | 23,704 | 27,546 | (9,204 | ) | 1976-1987 | 2007 | 39 | |||||||||||||||||||||||||
Peoria MOB | Peoria, AZ | — | 605 | 4,394 | 674 | 605 | 5,068 | 5,673 | (1,543 | ) | 2000 | 2010 | 39 | |||||||||||||||||||||||||
Baptist MC | Phoenix, AZ | — | — | 12,637 | 2,135 | — | 14,772 | 14,772 | (4,151 | ) | 1973 | 2008 | 39 | |||||||||||||||||||||||||
Desert Ridge MOB | Phoenix, AZ | — | — | 27,738 | 3,208 | — | 30,946 | 30,946 | (6,170 | ) | 2004-2006 | 2011 | 39 | |||||||||||||||||||||||||
Dignity Phoenix MOBs | Phoenix, AZ | — | — | 66,106 | 434 | — | 66,540 | 66,540 | (1,803 | ) | 1984-1997 | 2017 | 20-39 | |||||||||||||||||||||||||
Estrella Med Center | Phoenix, AZ | — | — | 24,703 | 2,929 | — | 27,632 | 27,632 | (6,729 | ) | 2004 | 2010 | 39 | |||||||||||||||||||||||||
Sun City Boswell MOBs | Sun City, AZ | — | — | 12,775 | 2,906 | — | 15,681 | 15,681 | (5,508 | ) | 1971-2001 | 2009 | 39 | |||||||||||||||||||||||||
Sun City Boswell West | Sun City, AZ | — | — | 6,610 | 2,379 | — | 8,989 | 8,989 | (2,862 | ) | 1992 | 2009 | 39 | |||||||||||||||||||||||||
Sun City Webb MP | Sun City, AZ | — | — | 16,188 | 2,516 | — | 18,704 | 18,704 | (5,475 | ) | 1997-2004 | 2009 | 39 | |||||||||||||||||||||||||
Sun City West MOBs | Sun City, AZ | — | 744 | 13,466 | 2,507 | 744 | 15,973 | 16,717 | (5,248 | ) | 1987-2002 | 2009 | 39 | |||||||||||||||||||||||||
Gateway Med Plaza | Tucson, AZ | — | — | 14,005 | 37 | — | 14,042 | 14,042 | (3,112 | ) | 2008 | 2010 | 39 | |||||||||||||||||||||||||
Tucson Academy MOP | Tucson, AZ | — | 1,193 | 6,107 | 1,423 | 1,193 | 7,530 | 8,723 | (2,850 | ) | 1978 | 2008 | 39 | |||||||||||||||||||||||||
Tucson Desert Life MOP | Tucson, AZ | — | 1,309 | 17,572 | 4,409 | 1,309 | 21,981 | 23,290 | (7,002 | ) | 1980-1984 | 2007 | 39 | |||||||||||||||||||||||||
Dignity Mercy MOBs | Bakersfield, CA | — | — | 15,207 | 7 | — | 15,214 | 15,214 | (419 | ) | 1992 | 2017 | 35 | |||||||||||||||||||||||||
5995 Plaza Drive | Cypress, CA | — | 5,109 | 17,961 | 336 | 5,109 | 18,297 | 23,406 | (5,310 | ) | 1986 | 2008 | 39 | |||||||||||||||||||||||||
Dignity Glendale MOB | Glendale, CA | — | — | 7,244 | 81 | — | 7,325 | 7,325 | (216 | ) | 1980 | 2017 | 30 | |||||||||||||||||||||||||
Mission Medical Center MOBs | Mission Viejo, CA | — | 21,911 | 117,672 | 3 | 21,911 | 117,675 | 139,586 | (4,907 | ) | 1972-1985 | 2016 | 39 | |||||||||||||||||||||||||
Dignity Northridge MOBs | Northridge, CA | — | — | 21,467 | 165 | — | 21,632 | 21,632 | (598 | ) | 1979-1994 | 2017 | 30-35 | |||||||||||||||||||||||||
San Luis Obispo MOB | San Luis Obispo, CA | — | — | 11,900 | 2,636 | — | 14,536 | 14,536 | (4,036 | ) | 2009 | 2010 | 39 | |||||||||||||||||||||||||
Facey MOB | Santa Clarita, CA | — | 6,452 | 5,586 | (5,515 | ) | 6,452 | 71 | 6,523 | — | 2018 | 2017 | 39 | |||||||||||||||||||||||||
Dignity Marian MOBs | Santa Maria, CA | — | — | 13,646 | 14 | — | 13,660 | 13,660 | (467 | ) | 1994-1995 | 2017 | 17-38 | |||||||||||||||||||||||||
SCL Health MOBs | Denver, CO | — | 11,652 | 104,327 | 2,110 | 11,652 | 106,437 | 118,089 | (1,856 | ) | 2015-2017 | 2017 | 39 | |||||||||||||||||||||||||
Hampden Place MOB | Englewood, CO | — | 3,032 | 12,553 | 239 | 3,032 | 12,792 | 15,824 | (3,585 | ) | 2004 | 2009 | 39 | |||||||||||||||||||||||||
Highlands Ranch MOP | Highlands Ranch, CO | — | 2,240 | 10,426 | 3,603 | 2,240 | 14,029 | 16,269 | (5,078 | ) | 1983-1985 | 2007 | 39 | |||||||||||||||||||||||||
Lone Tree Medical Office Buildings | Lone Tree, CO | — | 3,736 | 29,546 | 1,188 | 3,736 | 30,734 | 34,470 | (3,326 | ) | 2004-2008 | 2014 | 38 | |||||||||||||||||||||||||
Lincoln Medical Center | Parker, CO | — | 5,142 | 28,638 | 845 | 5,142 | 29,483 | 34,625 | (4,378 | ) | 2008 | 2013 | 39 | |||||||||||||||||||||||||
80 Fisher | Avon, CT | — | — | 5,094 | — | — | 5,094 | 5,094 | (443 | ) | 2008 | 2016 | 39 | |||||||||||||||||||||||||
Northwestern MOBs | Bloomfield, CT | — | 1,369 | 6,287 | 553 | 1,369 | 6,840 | 8,209 | (571 | ) | 1985 | 2016 | 35 | |||||||||||||||||||||||||
533 Cottage - Northwestern | Bloomfield, CT | — | 726 | 3,964 | (530 | ) | 726 | 3,434 | 4,160 | (244 | ) | 1955 | 2016 | 35 | ||||||||||||||||||||||||
406 Farmington | Farmington, CT | — | 379 | 3,509 | — | 379 | 3,509 | 3,888 | (210 | ) | 1988 | 2016 | 39 | |||||||||||||||||||||||||
704 Hebron | Glastonbury, CT | — | 2,223 | 6,544 | — | 2,223 | 6,544 | 8,767 | (499 | ) | 2001 | 2016 | 37 | |||||||||||||||||||||||||
Gateway MOBs | Glastonbury, CT | — | 10,896 | 41,320 | 2,565 | 13,016 | 41,765 | 54,781 | (2,966 | ) | 2007-2017 | 2016-2017 | 39 | |||||||||||||||||||||||||
Haynes MOBs | Manchester, CT | 7,389 | 1,100 | 14,620 | — | 1,100 | 14,620 | 15,720 | (859 | ) | 2007-2010 | 2016 | 39 | |||||||||||||||||||||||||
Pomeroy MOBs | Meriden, CT | — | 1,774 | 10,078 | (1 | ) | 1,774 | 10,077 | 11,851 | (758 | ) | 2009-2011 | 2016 | 39 | ||||||||||||||||||||||||
Saybrook MOBs | Middletown, CT | — | — | 10,314 | 220 | — | 10,534 | 10,534 | (836 | ) | 1989 | 2016 | 28 | |||||||||||||||||||||||||
Yale Long Wharf | New Haven, CT | — | 9,367 | 58,691 | 3,232 | 9,367 | 61,923 | 71,290 | (5,076 | ) | 1977 | 2016 | 30 | |||||||||||||||||||||||||
Devine MOBs | North Haven, CT | — | 3,606 | 27,278 | (338 | ) | 3,606 | 26,940 | 30,546 | (1,515 | ) | 2006-2017 | 2016-2017 | 35 |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Gross Amount at Which Carried at Close of Period | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Encumbrances | Land | Buildings, Improvements and Fixtures | Land | Buildings, Improvements and Fixtures | Total (c) | Accumulated Depreciation (f) | Date of Construction | Date Acquired | Life on Which Building Depreciation in Income Statement is Computed (h) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
VA MOBs | Tampa, FL | $ | — | $ | 17,802 | $ | 80,154 | $ | 732 | $ | 17,802 | $ | 80,886 | $ | 98,688 | $ | (11,226) | 2013 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||
FL Ortho Institute | Temple Terrace, FL | — | 2,923 | 17,647 | (1) | 2,923 | 17,646 | 20,569 | (6,021) | 2001-2003 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wellington MAP III | Wellington, FL | — | — | 10,511 | 31 | — | 10,542 | 10,542 | (3,288) | 2006 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Victor Farris MOB | West Palm Beach, FL | — | — | 23,052 | 11,965 | — | 35,017 | 35,017 | (9,022) | 1988 | 2013 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
East FL Senior Winter Park | Winter Park, FL | — | 2,840 | 12,825 | (1,023) | 2,840 | 11,802 | 14,642 | (4,872) | 1988 | 2007 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Camp Creek Med Center | Atlanta, GA | — | 2,961 | 19,688 | 1,371 | 2,961 | 21,059 | 24,020 | (7,593) | 2006 - 2010 | 2010-2012 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Camp Creek MOB | Atlanta, GA | — | 328 | 12,539 | — | 328 | 12,539 | 12,867 | (875) | 2018 | 2019 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
North Atlanta MOBs | Atlanta, GA | — | — | 41,836 | 1,621 | — | 43,457 | 43,457 | (6,249) | 2011-2012 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Paces Pavilion | Atlanta, GA | — | 3,670 | 16,328 | 27 | 3,670 | 16,355 | 20,025 | — | 1996 | 2021 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Augusta Rehab Hospital | Augusta, GA | — | 1,059 | 20,899 | — | 1,059 | 20,899 | 21,958 | (6,779) | 2007 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Austell Medical Park | Austell, GA | — | 432 | 4,057 | (160) | 432 | 3,897 | 4,329 | (1,113) | 2007 | 2013 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Harbin Clinic MOBs | Cedartown, Rome and Summerville, GA | — | 7,097 | 112,155 | (11,230) | 7,097 | 100,925 | 108,022 | (17,790) | 1960-2010 | 2017 | 30-39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Decatur MP | Decatur, GA | — | 3,166 | 6,862 | 1,303 | 3,166 | 8,165 | 11,331 | (2,954) | 1976 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Yorktown MC | Fayetteville, GA | — | 2,802 | 12,502 | 3,967 | 2,802 | 16,469 | 19,271 | (6,766) | 1987 | 2007 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gwinett MOP | Lawrenceville, GA | — | 1,290 | 7,246 | 4,525 | 1,290 | 11,771 | 13,061 | (5,467) | 1985 | 2007 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Marietta Health Park | Marietta, GA | — | 1,276 | 12,197 | 3,198 | 1,276 | 15,395 | 16,671 | (5,436) | 2000 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
WellStar Tower MOB | Marietta, GA | — | 748 | 13,528 | 321 | 748 | 13,849 | 14,597 | (2,962) | 2007 | 2015 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shakerag MC | Peachtree City, GA | — | 743 | 3,290 | 1,130 | 743 | 4,420 | 5,163 | (2,307) | 1994 | 2007 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Overlook at Eagle's Landing | Stockbridge, GA | — | 638 | 6,685 | 581 | 638 | 7,266 | 7,904 | (2,653) | 2004 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SouthCrest MOP | Stockbridge, GA | — | 4,260 | 14,636 | 2,257 | 4,260 | 16,893 | 21,153 | (7,061) | 2005 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cherokee Medical Center | Woodstock, GA | — | — | 16,558 | 990 | — | 17,548 | 17,548 | (4,262) | 2001 | 2015 | 35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Honolulu MOB | Honolulu, HI | — | — | 27,336 | 3,132 | — | 30,468 | 30,468 | (6,595) | 1997 | 2014 | 35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kapolei Medical Park | Kapolei, HI | — | — | 16,253 | 643 | — | 16,896 | 16,896 | (4,237) | 1999 | 2014 | 35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
North Curtis Road | Boise, ID | — | 382 | 5,995 | 12 | 382 | 6,007 | 6,389 | (462) | 1983 | 2020 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Eagle Road MOB | Meridian, ID | — | 666 | 9,636 | (146) | 666 | 9,490 | 10,156 | (1,004) | 2000 | 2019 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Chicago MOBs | Chicago, IL | — | 7,723 | 129,520 | 1,151 | 7,723 | 130,671 | 138,394 | (16,824) | 2006-2017 | 2017 | 38-39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Streeterville Center MOB | Chicago, IL | — | 4,223 | 35,008 | 139 | 4,223 | 35,147 | 39,370 | (2,554) | 1968 | 2019 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rush Oak Park MOB | Oak Park, IL | — | 1,096 | 38,550 | (2,667) | 1,096 | 35,883 | 36,979 | (8,975) | 2000 | 2012 | 38 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Brownsburg MOB | Brownsburg, IN | — | 431 | 639 | 641 | 431 | 1,280 | 1,711 | (531) | 1989 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Athens SC | Crawfordsville, IN | — | 381 | 3,575 | 417 | 381 | 3,992 | 4,373 | (1,670) | 2000 | 2007 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Crawfordsville MOB | Crawfordsville, IN | — | 318 | 1,899 | 260 | 318 | 2,159 | 2,477 | (907) | 1997 | 2007 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deaconess Clinic Downtown | Evansville, IN | — | 1,748 | 21,963 | 77 | 1,748 | 22,040 | 23,788 | (8,675) | 1952-1967 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deaconess Clinic Westside | Evansville, IN | — | 360 | 3,265 | 356 | 360 | 3,621 | 3,981 | (1,413) | 2005 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dupont MOB | Fort Wayne, IN | — | — | 8,246 | 1,412 | — | 9,658 | 9,658 | (2,209) | 2004 | 2013 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ft. Wayne MOB | Ft. Wayne, IN | — | — | 6,579 | (243) | — | 6,336 | 6,336 | (1,940) | 2008 | 2009 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Community MP | Indianapolis, IN | — | 560 | 3,581 | 821 | 560 | 4,402 | 4,962 | (1,719) | 1995 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Eagle Highlands MOP | Indianapolis, IN | — | 2,216 | 11,154 | 8,269 | 2,216 | 19,423 | 21,639 | (10,226) | 1988-1989 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Epler Parke MOP | Indianapolis, IN | — | 1,556 | 6,928 | 2,095 | 1,556 | 9,023 | 10,579 | (3,807) | 2002-2003 | 2007-2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Glendale Professional Plaza | Indianapolis, IN | — | 570 | 2,739 | 1,697 | 570 | 4,436 | 5,006 | (2,332) | 1993 | 2008 | 39 |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Gross Amount at Which Carried at Close of Period | ||||||||||||||||||||||||||||||||||||
Encumbrances | Land | Buildings, Improvements and Fixtures | Land | Buildings, Improvements and Fixtures | Total (c) | Accumulated Depreciation (f) | Date of Construction | Date Acquired | Life on Which Building Depreciation in Income Statement is Computed (h) | |||||||||||||||||||||||||||||
Evergreen MOBs | South Windsor, CT | $ | 11,698 | $ | 5,565 | $ | 25,839 | $ | (4 | ) | $ | 5,565 | $ | 25,835 | $ | 31,400 | $ | (1,675 | ) | 2006-2011 | 2016 | 39 | ||||||||||||||||
Day Hill MOBs | Windsor, CT | — | 3,980 | 7,055 | 95 | 3,980 | 7,150 | 11,130 | (775 | ) | 1990-1999 | 2016 | 30 | |||||||||||||||||||||||||
Riverside MOB | Bradenton, FL | — | 2,230 | 7,689 | 93 | 2,230 | 7,782 | 10,012 | (551 | ) | 1980 | 2016 | 25 | |||||||||||||||||||||||||
Brandon MOP | Brandon, FL | — | 901 | 6,946 | 556 | 901 | 7,502 | 8,403 | (2,465 | ) | 1997 | 2008 | 39 | |||||||||||||||||||||||||
McMullen MOB | Clearwater, FL | — | 3,470 | 12,621 | 17 | 3,470 | 12,638 | 16,108 | (1,659 | ) | 2009 | 2014 | 39 | |||||||||||||||||||||||||
Orlando Rehab Hospital | Edgewood, FL | — | 2,600 | 20,256 | 3,000 | 2,600 | 23,256 | 25,856 | (5,055 | ) | 2007 | 2010 | 39 | |||||||||||||||||||||||||
Palmetto MOB | Hialeah, FL | — | — | 15,512 | 2,047 | — | 17,559 | 17,559 | (3,709 | ) | 1980 | 2013 | 39 | |||||||||||||||||||||||||
East FL Senior Jacksonville | Jacksonville, FL | — | 4,291 | 9,220 | (1 | ) | 4,291 | 9,219 | 13,510 | (3,600 | ) | 1985 | 2007 | 39 | ||||||||||||||||||||||||
King Street MOB | Jacksonville, FL | — | — | 7,232 | 99 | — | 7,331 | 7,331 | (1,879 | ) | 2007 | 2010 | 39 | |||||||||||||||||||||||||
Jupiter MP | Jupiter, FL | — | 1,204 | 11,778 | 574 | 1,204 | 12,352 | 13,556 | (1,791 | ) | 1996-1997 | 2013 | 39 | |||||||||||||||||||||||||
Central FL SC | Lakeland, FL | — | 768 | 3,002 | 335 | 768 | 3,337 | 4,105 | (1,033 | ) | 1995 | 2008 | 39 | |||||||||||||||||||||||||
Vista Pro Center MOP | Lakeland, FL | — | 1,082 | 3,587 | 780 | 1,082 | 4,367 | 5,449 | (1,449 | ) | 1996-1999 | 2007-2008 | 39 | |||||||||||||||||||||||||
Largo Medical Center | Largo, FL | 27,901 | — | 51,045 | 573 | — | 51,618 | 51,618 | (6,162 | ) | 2009 | 2013 | 39 | |||||||||||||||||||||||||
Largo MOP | Largo, FL | — | 729 | 8,908 | 2,107 | 729 | 11,015 | 11,744 | (3,218 | ) | 1975-1986 | 2008 | 39 | |||||||||||||||||||||||||
FL Family Medical Center | Lauderdale Lakes, FL | — | — | 4,257 | 817 | — | 5,074 | 5,074 | (1,304 | ) | 1978 | 2013 | 39 | |||||||||||||||||||||||||
Northwest Medical Park | Margate, FL | — | — | 9,525 | 144 | 5 | 9,664 | 9,669 | (1,430 | ) | 2009 | 2013 | 39 | |||||||||||||||||||||||||
Coral Reef | Miami, FL | — | 5,144 | — | — | 5,144 | — | 5,144 | — | 2017 | 2017 | N/A | ||||||||||||||||||||||||||
North Shore MOB | Miami, FL | — | — | 4,942 | 717 | — | 5,659 | 5,659 | (1,533 | ) | 1978 | 2013 | 39 | |||||||||||||||||||||||||
Sunset Professional and Kendall MOBs | Miami, FL | — | 11,855 | 13,633 | 3,802 | 11,855 | 17,435 | 29,290 | (3,217 | ) | 1954-2006 | 2014 | 27 | |||||||||||||||||||||||||
Common V MOB | Naples, FL | — | 4,173 | 9,070 | 1,016 | 4,173 | 10,086 | 14,259 | (3,034 | ) | 1990 | 2007 | 39 | |||||||||||||||||||||||||
Florida Hospital MOBs | Orlando, Sebring and Tampa, FL | — | — | 151,647 | 1,976 | — | 153,623 | 153,623 | (2,873 | ) | 2006-2012 | 2017 | 39 | |||||||||||||||||||||||||
Orlando Lake Underhill MOB | Orlando, FL | — | — | 8,515 | 1,150 | — | 9,665 | 9,665 | (2,462 | ) | 2000 | 2010 | 39 | |||||||||||||||||||||||||
Orlando Oviedo MOB | Oviedo, FL | — | — | 5,711 | 647 | — | 6,358 | 6,358 | (1,428 | ) | 1998 | 2010 | 39 | |||||||||||||||||||||||||
Heart & Family Health MOB | Port St. Lucie, FL | — | 686 | 8,102 | 15 | 686 | 8,117 | 8,803 | (1,131 | ) | 2008 | 2013 | 39 | |||||||||||||||||||||||||
St. Lucie MC | Port St. Lucie, FL | — | — | 6,127 | 8 | — | 6,135 | 6,135 | (927 | ) | 2008 | 2013 | 39 | |||||||||||||||||||||||||
East FL Senior Sunrise | Sunrise, FL | — | 2,947 | 12,825 | — | 2,947 | 12,825 | 15,772 | (4,488 | ) | 1989 | 2007 | 39 | |||||||||||||||||||||||||
Tallahassee Rehab Hospital | Tallahassee, FL | — | 7,142 | 18,691 | 2,400 | 7,142 | 21,091 | 28,233 | (4,876 | ) | 2007 | 2010 | 39 | |||||||||||||||||||||||||
Optimal MOBs | Tampa, FL | — | 4,002 | 67,288 | (4 | ) | 4,002 | 67,284 | 71,286 | (1,146 | ) | 2005-2015 | 2017 | 39 | ||||||||||||||||||||||||
Tampa Medical Village MOB | Tampa, FL | — | 3,627 | 14,806 | (8 | ) | 3,627 | 14,798 | 18,425 | (420 | ) | 2003 | 2017 | 35 | ||||||||||||||||||||||||
VA MOBs | Tampa, FL | — | 17,802 | 80,154 | (208 | ) | 17,802 | 79,946 | 97,748 | (1,214 | ) | 2013 | 2017 | 39 | ||||||||||||||||||||||||
FL Ortho Institute | Temple Terrace, FL | — | 2,923 | 17,647 | (1 | ) | 2,923 | 17,646 | 20,569 | (3,929 | ) | 2001-2003 | 2010 | 39 | ||||||||||||||||||||||||
Wellington MAP III | Wellington, FL | — | — | 10,511 | 68 | — | 10,579 | 10,579 | (2,180 | ) | 2006 | 2010 | 39 | |||||||||||||||||||||||||
Victor Farris MOB | West Palm Beach, FL | — | — | 23,052 | 1,560 | — | 24,612 | 24,612 | (4,273 | ) | 1988 | 2013 | 39 | |||||||||||||||||||||||||
East FL Senior Winter Park | Winter Park, FL | — | 2,840 | 12,825 | — | 2,840 | 12,825 | 15,665 | (4,775 | ) | 1988 | 2007 | 39 | |||||||||||||||||||||||||
Camp Creek Med Center | Atlanta, GA | — | 2,961 | 19,688 | 312 | 2,961 | 20,000 | 22,961 | (5,470 | ) | 2006-2010 | 2010-2012 | 39 | |||||||||||||||||||||||||
North Atlanta MOBs | Atlanta, GA | — | — | 41,836 | 626 | — | 42,462 | 42,462 | (780 | ) | 2011-2012 | 2017 | 39 | |||||||||||||||||||||||||
Augusta Rehab Hospital | Augusta, GA | — | 1,059 | 20,899 | — | 1,059 | 20,899 | 21,958 | (4,387 | ) | 2007 | 2010 | 39 | |||||||||||||||||||||||||
Austell Medical Park | Austell, GA | — | 432 | 4,057 | 45 | 432 | 4,102 | 4,534 | (751 | ) | 2007 | 2013 | 39 | |||||||||||||||||||||||||
Harbin Clinic MOBs | Cedartown, Rome and Summerville, GA | — | 7,097 | 112,155 | 1 | 7,097 | 112,156 | 119,253 | (2,234 | ) | 1960-2010 | 2017 | 30-39 | |||||||||||||||||||||||||
Decatur MP | Decatur, GA | — | 3,166 | 6,862 | 895 | 3,166 | 7,757 | 10,923 | (2,374 | ) | 1976 | 2008 | 39 | |||||||||||||||||||||||||
Yorktown MC | Fayetteville, GA | — | 2,802 | 12,502 | 3,207 | 2,802 | 15,709 | 18,511 | (5,940 | ) | 1987 | 2007 | 39 | |||||||||||||||||||||||||
Gwinett MOP | Lawrenceville, GA | — | 1,290 | 7,246 | 2,566 | 1,290 | 9,812 | 11,102 | (3,265 | ) | 1985 | 2007 | 39 | |||||||||||||||||||||||||
Marietta Health Park | Marietta, GA | — | 1,276 | 12,197 | 1,191 | 1,276 | 13,388 | 14,664 | (4,212 | ) | 2000 | 2008 | 39 |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Gross Amount at Which Carried at Close of Period | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Encumbrances | Land | Buildings, Improvements and Fixtures | Land | Buildings, Improvements and Fixtures | Total (c) | Accumulated Depreciation (f) | Date of Construction | Date Acquired | Life on Which Building Depreciation in Income Statement is Computed (h) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MMP Eagle Highlands | Indianapolis, IN | $ | — | $ | 1,044 | $ | 13,548 | $ | 3,914 | $ | 1,044 | $ | 17,462 | $ | 18,506 | $ | (6,969) | 1993 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||
MMP East | Indianapolis, IN | — | 1,236 | 9,840 | 3,374 | 1,236 | 13,214 | 14,450 | (6,364) | 1996 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MMP North | Indianapolis, IN | — | 1,518 | 15,460 | 6,210 | 1,427 | 21,761 | 23,188 | (9,521) | 1995 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MMP South | Indianapolis, IN | — | 1,127 | 10,414 | 2,333 | 1,127 | 12,747 | 13,874 | (5,430) | 1994 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Southpointe MOP | Indianapolis, IN | — | 2,190 | 7,548 | 1,529 | 2,190 | 9,077 | 11,267 | (4,016) | 1996 | 2007 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
St. Vincent MOB | Indianapolis, IN | — | 2,964 | 23,352 | 49 | 2,964 | 23,401 | 26,365 | (3,773) | 2007 | 2017 | 35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kokomo MOP | Kokomo, IN | — | 1,779 | 9,614 | 2,450 | 1,779 | 12,064 | 13,843 | (5,260) | 1992-1994 | 2007 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deaconess Clinic Gateway | Newburgh, IN | — | — | 10,952 | 26 | — | 10,978 | 10,978 | (3,844) | 2006 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Community Health Pavilion | Noblesville, IN | — | 5,560 | 28,988 | 1,658 | 5,560 | 30,646 | 36,206 | (8,124) | 2009 | 2015 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Zionsville MC | Zionsville, IN | — | 655 | 2,877 | 1,152 | 664 | 4,020 | 4,684 | (1,825) | 1992 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nashoba Valley Med Center MOB | Ayer, MA | — | — | 5,529 | 313 | 299 | 5,543 | 5,842 | (1,888) | 1976-2007 | 2012 | 31 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
670 Albany | Boston, MA | — | — | 104,365 | (1,795) | — | 102,570 | 102,570 | (17,428) | 2005 | 2015 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tufts Medical Center | Boston, MA | — | 32,514 | 109,180 | 9,778 | 32,514 | 118,958 | 151,472 | (32,158) | 1924-2015 | 2014 | 35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
St. Elizabeth's Med Center | Brighton, MA | — | — | 20,929 | 3,627 | 1,379 | 23,177 | 24,556 | (7,529) | 1965-2013 | 2012 | 31 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Good Samaritan MOBs | Brockton , MA | — | — | 15,887 | 2,127 | 144 | 17,870 | 18,014 | (5,477) | 1980-2007 | 2012 | 31 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pearl Street MOBs | Brockton, MA | — | 4,714 | 18,193 | 1,465 | 4,714 | 19,658 | 24,372 | (4,266) | 1966-2004 | 2016 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carney Hospital MOB | Dorchester, MA | — | — | 7,250 | 813 | 530 | 7,533 | 8,063 | (2,450) | 1978 | 2012 | 31 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
St. Anne's Hospital MOB | Fall River, MA | — | — | 9,304 | 130 | 40 | 9,394 | 9,434 | (2,381) | 2011 | 2012 | 31 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Norwood Hospital MOB | Foxborough, MA | — | — | 9,489 | 536 | 2,295 | 7,730 | 10,025 | (2,751) | 1930-2000 | 2012 | 31 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Holy Family Hospital MOB | Methuen, MA | — | — | 4,502 | 304 | 168 | 4,638 | 4,806 | (1,872) | 1988 | 2012 | 31 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Morton Hospital MOB | Taunton, MA | — | — | 15,317 | 1,910 | 502 | 16,725 | 17,227 | (8,222) | 1988 | 2012 | 31 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stetson MOB | Weymouth, MA | — | 3,362 | 15,555 | 3,681 | 3,362 | 19,236 | 22,598 | (6,409) | 1900-1986 | 2015 | 20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Johnston Professional Building | Baltimore, MD | — | — | 21,481 | 423 | — | 21,904 | 21,904 | (5,208) | 1993 | 2014 | 35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Triad Tech Center | Baltimore, MD | — | — | 26,548 | 25 | — | 26,573 | 26,573 | (8,499) | 1989 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
St. John Providence MOB | Novi, MI | — | — | 42,371 | (195) | — | 42,176 | 42,176 | (12,659) | 2007 | 2012 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fort Road MOB | St. Paul, MN | — | 1,571 | 5,786 | 1,468 | 1,571 | 7,254 | 8,825 | (3,319) | 1981 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Chesterfield Rehab Hospital | Chesterfield, MO | — | 4,213 | 27,898 | 774 | 4,313 | 28,574 | 32,887 | (11,410) | 2007 | 2007 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BJC West County MOB | Creve Coeur, MO | — | 2,242 | 13,130 | 994 | 2,242 | 14,124 | 16,366 | (5,494) | 1978 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Winghaven MOB | O'Fallon, MO | — | 1,455 | 9,708 | 1,645 | 1,455 | 11,353 | 12,808 | (4,479) | 2001 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BJC MOB | St. Louis, MO | — | 304 | 1,554 | (891) | 304 | 663 | 967 | (512) | 2001 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Des Peres MAP II | St. Louis, MO | — | — | 11,386 | 36 | — | 11,422 | 11,422 | (3,793) | 2007 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Baptist Memorial MOB | Oxford, MS | — | — | 26,263 | 7,570 | — | 33,833 | 33,833 | (3,759) | 2017 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Medical Park of Cary | Cary, NC | — | 2,931 | 20,305 | 38,308 | 2,931 | 58,613 | 61,544 | (9,072) | 1994 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rex Cary MOB | Cary, NC | — | 1,449 | 18,226 | 472 | 1,449 | 18,698 | 20,147 | (3,696) | 2002 | 2015 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tryon Office Center | Cary, NC | — | 2,200 | 14,956 | 1,053 | 2,200 | 16,009 | 18,209 | (3,659) | 2002-2006 | 2015 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carolinas Health MOB | Charlotte, NC | — | — | 75,198 | (1,072) | — | 74,126 | 74,126 | (8,851) | 2006 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Davidson MOB | Davidson , NC | — | 1,188 | 8,556 | 98 | 1,188 | 8,654 | 9,842 | (685) | 2001 | 2019 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Duke Fertility Center | Durham, NC | — | 596 | 3,882 | (106) | 596 | 3,776 | 4,372 | (569) | 2006 | 2016 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Duke Medical Plaza | Durham, NC | — | 1,093 | 11,836 | 1,521 | 1,093 | 13,357 | 14,450 | (261) | 1988 | 2021 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hock Plaza II | Durham, NC | — | 680 | 27,044 | 643 | 680 | 27,687 | 28,367 | (4,569) | 2006 | 2016 | 36 |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Gross Amount at Which Carried at Close of Period | ||||||||||||||||||||||||||||||||||||
Encumbrances | Land | Buildings, Improvements and Fixtures | Land | Buildings, Improvements and Fixtures | Total (c) | Accumulated Depreciation (f) | Date of Construction | Date Acquired | Life on Which Building Depreciation in Income Statement is Computed (h) | |||||||||||||||||||||||||||||
WellStar Tower MOB | Marietta, GA | $ | — | $ | 748 | $ | 13,528 | $ | 96 | $ | 748 | $ | 13,624 | $ | 14,372 | $ | (1,190 | ) | 2007 | 2015 | 39 | |||||||||||||||||
Shakerag MC | Peachtree City, GA | — | 743 | 3,290 | 1,291 | 743 | 4,581 | 5,324 | (1,844 | ) | 1994 | 2007 | 39 | |||||||||||||||||||||||||
Overlook at Eagle’s Landing | Stockbridge, GA | — | 638 | 6,685 | 694 | 638 | 7,379 | 8,017 | (1,809 | ) | 2004 | 2010 | 39 | |||||||||||||||||||||||||
SouthCrest MOP | Stockbridge, GA | — | 4,260 | 14,636 | 1,815 | 4,260 | 16,451 | 20,711 | (5,392 | ) | 2005 | 2008 | 39 | |||||||||||||||||||||||||
Cherokee Medical Center | Woodstock, GA | — | — | 16,558 | 206 | — | 16,764 | 16,764 | (1,564 | ) | 2001 | 2015 | 35 | |||||||||||||||||||||||||
Honolulu MOB | Honolulu, HI | — | — | 27,336 | 844 | — | 28,180 | 28,180 | (3,080 | ) | 1997 | 2014 | 35 | |||||||||||||||||||||||||
Kapolei Medical Park | Kapolei, HI | — | — | 16,253 | (211 | ) | — | 16,042 | 16,042 | (1,969 | ) | 1999 | 2014 | 35 | ||||||||||||||||||||||||
Chicago MOBs | Chicago, IL | 52,200 | 7,723 | 129,520 | 112 | 7,723 | 129,632 | 137,355 | (1,988 | ) | 2006-2017 | 2017 | 38-39 | |||||||||||||||||||||||||
Rush Oak Park MOB | Oak Park, IL | — | 1,096 | 38,550 | — | 1,096 | 38,550 | 39,646 | (7,157 | ) | 2000 | 2012 | 38 | |||||||||||||||||||||||||
Brownsburg MOB | Brownsburg, IN | — | 431 | 639 | 245 | 431 | 884 | 1,315 | (470 | ) | 1989 | 2008 | 39 | |||||||||||||||||||||||||
Athens SC | Crawfordsville, IN | — | 381 | 3,575 | 296 | 381 | 3,871 | 4,252 | (1,405 | ) | 2000 | 2007 | 39 | |||||||||||||||||||||||||
Crawfordsville MOB | Crawfordsville, IN | — | 318 | 1,899 | 174 | 318 | 2,073 | 2,391 | (740 | ) | 1997 | 2007 | 39 | |||||||||||||||||||||||||
Deaconess Clinic Downtown | Evansville, IN | — | 1,748 | 21,963 | 60 | 1,748 | 22,023 | 23,771 | (5,913 | ) | 1952-1967 | 2010 | 39 | |||||||||||||||||||||||||
Deaconess Clinic Westside | Evansville, IN | — | 360 | 3,265 | 356 | 360 | 3,621 | 3,981 | (945 | ) | 2005 | 2010 | 39 | |||||||||||||||||||||||||
Dupont MOB | Fort Wayne, IN | — | — | 8,246 | 27 | — | 8,273 | 8,273 | (1,292 | ) | 2004 | 2013 | 39 | |||||||||||||||||||||||||
Ft. Wayne MOB | Fort Wayne, IN | — | — | 6,579 | — | — | 6,579 | 6,579 | (1,526 | ) | 2008 | 2009 | 39 | |||||||||||||||||||||||||
Community MP | Indianapolis, IN | — | 560 | 3,581 | 302 | 560 | 3,883 | 4,443 | (1,362 | ) | 1995 | 2008 | 39 | |||||||||||||||||||||||||
Eagle Highlands MOP | Indianapolis, IN | — | 2,216 | 11,154 | 8,212 | 2,216 | 19,366 | 21,582 | (6,429 | ) | 1988-1989 | 2008 | 39 | |||||||||||||||||||||||||
Epler Parke MOP | Indianapolis, IN | — | 1,556 | 6,928 | 1,208 | 1,556 | 8,136 | 9,692 | (3,010 | ) | 2002-2003 | 2007-2008 | 39 | |||||||||||||||||||||||||
Glendale Professional Plaza | Indianapolis, IN | — | 570 | 2,739 | 1,603 | 570 | 4,342 | 4,912 | (1,740 | ) | 1993 | 2008 | 39 | |||||||||||||||||||||||||
MMP Eagle Highlands | Indianapolis, IN | — | 1,044 | 13,548 | 2,626 | 1,044 | 16,174 | 17,218 | (5,782 | ) | 1993 | 2008 | 39 | |||||||||||||||||||||||||
MMP East | Indianapolis, IN | — | 1,236 | 9,840 | 4,033 | 1,236 | 13,873 | 15,109 | (5,569 | ) | 1996 | 2008 | 39 | |||||||||||||||||||||||||
MMP North | Indianapolis, IN | — | 1,518 | 15,460 | 4,326 | 1,427 | 19,877 | 21,304 | (6,758 | ) | 1995 | 2008 | 39 | |||||||||||||||||||||||||
MMP South | Indianapolis, IN | — | 1,127 | 10,414 | 1,831 | 1,127 | 12,245 | 13,372 | (4,420 | ) | 1994 | 2008 | 39 | |||||||||||||||||||||||||
Southpointe MOP | Indianapolis, IN | — | 2,190 | 7,548 | 2,674 | 2,190 | 10,222 | 12,412 | (3,653 | ) | 1996 | 2007 | 39 | |||||||||||||||||||||||||
St. Vincent MOB | Indianapolis, IN | 18,300 | 2,964 | 23,352 | — | 2,964 | 23,352 | 26,316 | (496 | ) | 2007 | 2017 | 35 | |||||||||||||||||||||||||
Kokomo MOP | Kokomo, IN | — | 1,779 | 9,614 | 2,322 | 1,779 | 11,936 | 13,715 | (3,831 | ) | 1992-1994 | 2007 | 39 | |||||||||||||||||||||||||
Deaconess Clinic Gateway | Newburgh, IN | — | — | 10,952 | 26 | — | 10,978 | 10,978 | (2,590 | ) | 2006 | 2010 | 39 | |||||||||||||||||||||||||
Community Health Pavilion | Noblesville, IN | — | 5,560 | 28,988 | 955 | 5,560 | 29,943 | 35,503 | (3,075 | ) | 2009 | 2015 | 39 | |||||||||||||||||||||||||
Zionsville MC | Zionsville, IN | — | 655 | 2,877 | 981 | 664 | 3,849 | 4,513 | (1,384 | ) | 1992 | 2008 | 39 | |||||||||||||||||||||||||
KS Doctors MOB | Overland Park, KS | — | 1,808 | 9,517 | 1,886 | 1,808 | 11,403 | 13,211 | (3,800 | ) | 1978 | 2008 | 39 | |||||||||||||||||||||||||
Nashoba Valley Med Center MOB | Ayer, MA | — | — | 5,529 | 304 | 299 | 5,534 | 5,833 | (1,116 | ) | 1976-2007 | 2012 | 31 | |||||||||||||||||||||||||
670 Albany | Boston, MA | — | — | 104,365 | 31 | — | 104,396 | 104,396 | (7,683 | ) | 2005 | 2015 | 39 | |||||||||||||||||||||||||
Tufts Medical Center | Boston, MA | 68,707 | 32,514 | 109,180 | 5,484 | 32,514 | 114,664 | 147,178 | (13,422 | ) | 1924-2015 | 2014 | 35 | |||||||||||||||||||||||||
St. Elizabeth’s Med Center | Brighton, MA | — | — | 20,929 | 2,749 | 1,379 | 22,299 | 23,678 | (4,112 | ) | 1965-2013 | 2012 | 31 | |||||||||||||||||||||||||
Good Samaritan MOBs | Brockton, MA | — | — | 15,887 | 895 | 144 | 16,638 | 16,782 | (3,007 | ) | 1980-2007 | 2012 | 31 | |||||||||||||||||||||||||
Pearl Street MOBs | Brockton, MA | 6,647 | 4,714 | 18,193 | 139 | 4,714 | 18,332 | 23,046 | (818 | ) | 1966-2004 | 2016 | 39 | |||||||||||||||||||||||||
Carney Hospital MOB | Dorchester, MA | — | — | 7,250 | 751 | 530 | 7,471 | 8,001 | (1,410 | ) | 1978 | 2012 | 31 | |||||||||||||||||||||||||
St. Anne’s Hospital MOB | Fall River, MA | — | — | 9,304 | 57 | 40 | 9,321 | 9,361 | (1,380 | ) | 2011 | 2012 | 31 | |||||||||||||||||||||||||
Norwood Hospital MOB | Foxborough, MA | — | — | 9,489 | 239 | 2,295 | 7,433 | 9,728 | (1,548 | ) | 1930-2000 | 2012 | 31 | |||||||||||||||||||||||||
Holy Family Hospital MOB | Methuen, MA | — | — | 4,502 | 274 | 168 | 4,608 | 4,776 | (1,070 | ) | 1988 | 2012 | 31 | |||||||||||||||||||||||||
N. Berkshire MOB | North Adams, MA | — | — | 7,259 | (4,933 | ) | — | 2,326 | 2,326 | (1,642 | ) | 2002 | 2011 | 39 | ||||||||||||||||||||||||
Morton Hospital MOB | Taunton, MA | — | — | 15,317 | 1,102 | 502 | 15,917 | 16,419 | (4,643 | ) | 1988 | 2012 | 31 | |||||||||||||||||||||||||
Stetson MOB | Weymouth, MA | — | 3,362 | 15,555 | 856 | 3,362 | 16,411 | 19,773 | (2,243 | ) | 1900-1986 | 2015 | 20 |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Gross Amount at Which Carried at Close of Period | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Encumbrances | Land | Buildings, Improvements and Fixtures | Land | Buildings, Improvements and Fixtures | Total (c) | Accumulated Depreciation (f) | Date of Construction | Date Acquired | Life on Which Building Depreciation in Income Statement is Computed (h) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UNC Rex Holly Springs | Holly Springs, NC | $ | — | $ | — | $ | 27,591 | $ | 11,082 | $ | — | $ | 38,673 | $ | 38,673 | $ | (4,347) | 2011 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||
Huntersville Office Park | Huntersville, NC | — | 5,376 | 67,125 | 2,331 | 5,376 | 69,456 | 74,832 | (5,614) | 1990-2001 | 2019 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rosedale MOB | Huntersville, NC | — | 1,281 | 7,738 | 58 | 1,281 | 7,796 | 9,077 | (698) | 2005 | 2019 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Medical Park MOBs | Mooresville, NC | — | 1,771 | 13,266 | 9,982 | 2,141 | 22,878 | 25,019 | (4,724) | 2000-2005 | 2017 | 23 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3100 Blue Ridge | Raleigh, NC | — | 1,732 | 8,891 | 714 | 1,732 | 9,605 | 11,337 | (3,016) | 1985 | 2014 | 35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Raleigh Medical Center | Raleigh, NC | — | 2,381 | 15,630 | 5,955 | 2,381 | 21,585 | 23,966 | (8,311) | 1989 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sandy Forks MOB | Raleigh, NC | — | 652 | 7,263 | 15 | 652 | 7,278 | 7,930 | (950) | 2016 | 2018 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sunset Ridge MOBs | Raleigh, NC | — | 811 | 3,926 | 710 | 811 | 4,636 | 5,447 | (585) | 1999 | 2018 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Piedmont MOB | Statesville, NC | — | 1,024 | 13,911 | 41 | 1,024 | 13,952 | 14,976 | (1,307) | 1984 | 2020 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NorthPark MOBs | Wake Forest, NC | — | 2,098 | 13,921 | 2 | 2,098 | 13,923 | 16,021 | (57) | 1996-2008 | 2021 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hackensack MOB | North Bergen, NJ | — | — | 31,658 | 608 | — | 32,266 | 32,266 | (4,003) | 2014 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mountain View MOB | Las Cruces, NM | — | — | 41,553 | 2,802 | — | 44,355 | 44,355 | (6,064) | 2003 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Santa Fe 440 MOB | Santa Fe, NM | — | 842 | 7,448 | (3,205) | 842 | 4,243 | 5,085 | (2,267) | 1978 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
San Martin MAP | Las Vegas, NV | — | — | 14,777 | 4,801 | — | 19,578 | 19,578 | (7,882) | 2007 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Madison Ave MOB | Albany, NY | — | 83 | 2,759 | 151 | 83 | 2,910 | 2,993 | (1,097) | 1964-2008 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Patroon Creek HQ | Albany, NY | — | 1,870 | 29,453 | 4,896 | 1,870 | 34,349 | 36,219 | (12,451) | 2001 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Patroon Creek MOB | Albany, NY | — | 1,439 | 27,639 | 186 | 1,439 | 27,825 | 29,264 | (9,013) | 2007 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Washington Ave MOB | Albany, NY | — | 1,699 | 18,440 | 1,023 | 1,699 | 19,463 | 21,162 | (6,569) | 1998-2000 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Putnam MOB | Carmel, NY | — | — | 24,216 | 326 | — | 24,542 | 24,542 | (7,482) | 2000 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Region Health Park | Latham, NY | — | 2,305 | 37,494 | 3,565 | 2,305 | 41,059 | 43,364 | (14,672) | 2001 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ACP MOB | New York, NY | — | 53,265 | 62,873 | 505 | 53,265 | 63,378 | 116,643 | (4,085) | 1920-1988 | 2019 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
210 Westchester MOB | White Plains, NY | — | 8,628 | 18,408 | — | 8,628 | 18,408 | 27,036 | (5,225) | 1981 | 2014 | 31 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Westchester MOBs | White Plains, NY | — | 17,274 | 41,865 | 11,930 | 17,274 | 53,795 | 71,069 | (15,027) | 1967-1983 | 2014 | 29 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kindred MOBs | Avon, OH, Germantown, TN, Indianapolis, IN and Springfield, MO | — | 4,238 | 118,778 | (101) | 4,238 | 118,677 | 122,915 | (16,338) | 2013-2016 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Diley Ridge MOB | Canal Winchester, OH | — | — | 9,811 | 67 | — | 9,878 | 9,878 | (2,128) | 2010 | 2015 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Good Sam MOB | Cincinnati, OH | — | 1,825 | 9,966 | (178) | 1,825 | 9,788 | 11,613 | (1,372) | 2011 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TriHealth | Cincinnati, OH | — | — | 34,894 | 313 | — | 35,207 | 35,207 | (4,484) | 2016 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Market Exchange MOP | Columbus, OH | — | 2,326 | 17,207 | 4,011 | 2,326 | 21,218 | 23,544 | (8,424) | 2001-2003 | 2007-2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mt. Carmel East | Columbus, OH | — | — | 14,983 | 409 | — | 15,392 | 15,392 | (570) | 1991 | 2001 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Olentangy | Columbus, OH | — | 1,247 | 9,830 | 1,001 | 1,247 | 10,831 | 12,078 | (1,425) | 1985 | 2019 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Polaris MOB | Columbus, OH | — | 1,447 | 12,192 | 66 | 1,447 | 12,258 | 13,705 | (2,315) | 2012 | 2016 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gahanna MOB | Gahanna, OH | — | 1,078 | 5,674 | 59 | 1,078 | 5,733 | 6,811 | (1,322) | 1997 | 2016 | 30 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilliard II MOB | Hilliard, OH | — | 959 | 7,260 | 288 | 959 | 7,548 | 8,507 | (1,553) | 2014 | 2016 | 38 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Hilliard MOB | Hilliard, OH | — | 946 | 11,174 | 743 | 946 | 11,917 | 12,863 | (2,965) | 2013 | 2015 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Park Place MOP | Kettering, OH | — | 1,987 | 11,341 | 5,411 | 1,987 | 16,752 | 18,739 | (7,385) | 1998-2002 | 2007 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liberty Falls MP | Liberty, OH | — | 842 | 5,640 | 836 | 842 | 6,476 | 7,318 | (2,695) | 2008 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Parma Ridge MOB | Parma, OH | — | 372 | 3,636 | 1,006 | 372 | 4,642 | 5,014 | (2,005) | 1977 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
St. Ann's MOB | Westerville, OH | — | — | 16,978 | 8 | — | 16,986 | 16,986 | (793) | 2004 | 2020 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deaconess MOP | Oklahoma City, OK | — | — | 25,975 | 2,938 | — | 28,913 | 28,913 | (10,795) | 1991-1996 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Silverton Health MOB | Woodburn, OR | — | 953 | 6,164 | (27) | 953 | 6,137 | 7,090 | (1,150) | 2001 | 2016 | 35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Monroeville MOB | Monroeville, PA | — | 3,264 | 7,038 | 1,453 | 3,264 | 8,491 | 11,755 | (2,994) | 1985-1989 | 2013 | 39 |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Gross Amount at Which Carried at Close of Period | ||||||||||||||||||||||||||||||||||||
Encumbrances | Land | Buildings, Improvements and Fixtures | Land | Buildings, Improvements and Fixtures | Total (c) | Accumulated Depreciation (f) | Date of Construction | Date Acquired | Life on Which Building Depreciation in Income Statement is Computed (h) | |||||||||||||||||||||||||||||
Johnston Professional Building | Baltimore, MD | $ | 13,530 | $ | — | $ | 21,481 | $ | 217 | $ | — | $ | 21,698 | $ | 21,698 | $ | (2,475 | ) | 1993 | 2014 | 35 | |||||||||||||||||
Triad Tech Center | Baltimore, MD | 10,180 | — | 26,548 | — | — | 26,548 | 26,548 | (5,620 | ) | 1989 | 2010 | 39 | |||||||||||||||||||||||||
St. John Providence MOB | Novi, MI | — | — | 42,371 | 295 | — | 42,666 | 42,666 | (9,834 | ) | 2007 | 2012 | 39 | |||||||||||||||||||||||||
Fort Road MOB | St. Paul, MN | — | 1,571 | 5,786 | 1,453 | 1,571 | 7,239 | 8,810 | (2,244 | ) | 1981 | 2008 | 39 | |||||||||||||||||||||||||
Gallery Professional Building | St. Paul, MN | — | 1,157 | 5,009 | 3,509 | 1,157 | 8,518 | 9,675 | (4,385 | ) | 1979 | 2007 | 39 | |||||||||||||||||||||||||
Chesterfield Rehab Hospital | Chesterfield, MO | — | 4,213 | 27,898 | 1,085 | 4,313 | 28,883 | 33,196 | (8,226 | ) | 2007 | 2007 | 39 | |||||||||||||||||||||||||
BJC West County MOB | Creve Coeur, MO | — | 2,242 | 13,130 | 612 | 2,242 | 13,742 | 15,984 | (4,226 | ) | 1978 | 2008 | 39 | |||||||||||||||||||||||||
Winghaven MOB | O’Fallon, MO | — | 1,455 | 9,708 | 642 | 1,455 | 10,350 | 11,805 | (3,411 | ) | 2001 | 2008 | 39 | |||||||||||||||||||||||||
BJC MOB | St. Louis, MO | — | 304 | 1,554 | (915 | ) | 304 | 639 | 943 | (432 | ) | 2001 | 2008 | 39 | ||||||||||||||||||||||||
Des Peres MAP II | St. Louis, MO | — | — | 11,386 | 1,102 | — | 12,488 | 12,488 | (3,115 | ) | 2007 | 2010 | 39 | |||||||||||||||||||||||||
Baptist Memorial MOB | Oxford, MS | — | — | 26,263 | 5,749 | — | 32,012 | 32,012 | (182 | ) | 2017 | 2017 | 39 | |||||||||||||||||||||||||
Medical Park of Cary | Cary, NC | — | 2,931 | 19,855 | 2,861 | 2,931 | 22,716 | 25,647 | (6,231 | ) | 1994 | 2010 | 39 | |||||||||||||||||||||||||
Rex Cary MOB | Cary, NC | — | 1,449 | 18,226 | 217 | 1,449 | 18,443 | 19,892 | (1,491 | ) | 2002 | 2015 | 39 | |||||||||||||||||||||||||
Tryon Office Center | Cary, NC | — | 2,200 | 14,956 | 365 | 2,200 | 15,321 | 17,521 | (1,437 | ) | 2002-2006 | 2015 | 39 | |||||||||||||||||||||||||
Carolinas Health MOB | Charlotte, NC | 59,800 | — | 75,198 | — | — | 75,198 | 75,198 | (1,330 | ) | 2006 | 2017 | 39 | |||||||||||||||||||||||||
Duke Fertility Center | Durham, NC | — | 596 | 3,882 | — | 596 | 3,882 | 4,478 | (156 | ) | 2006 | 2016 | 39 | |||||||||||||||||||||||||
Hock Plaza II | Durham, NC | — | 680 | 27,044 | 233 | 680 | 27,277 | 27,957 | (995 | ) | 2006 | 2016 | 36 | |||||||||||||||||||||||||
UNC Rex Holly Springs | Holly Springs, NC | — | — | 27,591 | 7,273 | — | 34,864 | 34,864 | (81 | ) | 2011 | 2017 | 39 | |||||||||||||||||||||||||
Medical Park MOBs | Mooresville, NC | — | 1,771 | 13,266 | 77 | 1,771 | 13,343 | 15,114 | (552 | ) | 2000-2005 | 2017 | 23 | |||||||||||||||||||||||||
3100 Blue Ridge | Raleigh, NC | — | 1,732 | 8,891 | 439 | 1,732 | 9,330 | 11,062 | (1,318 | ) | 1985 | 2014 | 35 | |||||||||||||||||||||||||
Raleigh Medical Center | Raleigh, NC | — | 2,381 | 15,630 | 6,310 | 2,381 | 21,940 | 24,321 | (5,137 | ) | 1989 | 2010 | 39 | |||||||||||||||||||||||||
Nutfield Professional Center | Derry, NH | — | 1,075 | 10,320 | 846 | 1,075 | 11,166 | 12,241 | (3,210 | ) | 1963 | 2008 | 39 | |||||||||||||||||||||||||
Hackensack MOB | North Bergen, NJ | — | — | 31,658 | — | — | 31,658 | 31,658 | (510 | ) | 2014 | 2017 | 39 | |||||||||||||||||||||||||
Mountain View MOB | Las Cruces, NM | — | — | 41,553 | 379 | — | 41,932 | 41,932 | (867 | ) | 2003 | 2017 | 39 | |||||||||||||||||||||||||
Santa Fe 1640 MOB | Santa Fe, NM | — | 697 | 4,268 | 64 | 697 | 4,332 | 5,029 | (1,069 | ) | 1985 | 2010 | 39 | |||||||||||||||||||||||||
Santa Fe 440 MOB | Santa Fe, NM | — | 842 | 7,448 | 13 | 842 | 7,461 | 8,303 | (1,846 | ) | 1978 | 2010 | 39 | |||||||||||||||||||||||||
San Martin MAP | Las Vegas, NV | — | — | 14,777 | 2,990 | — | 17,767 | 17,767 | (3,328 | ) | 2007 | 2010 | 39 | |||||||||||||||||||||||||
Madison Ave MOB | Albany, NY | — | 83 | 2,759 | 68 | 83 | 2,827 | 2,910 | (661 | ) | 1964-2008 | 2010 | 39 | |||||||||||||||||||||||||
Patroon Creek HQ | Albany, NY | — | 1,870 | 29,453 | 5,382 | 1,870 | 34,835 | 36,705 | (8,079 | ) | 2001 | 2010 | 39 | |||||||||||||||||||||||||
Patroon Creek MOB | Albany, NY | — | 1,439 | 27,639 | 559 | 1,439 | 28,198 | 29,637 | (6,223 | ) | 2007 | 2010 | 39 | |||||||||||||||||||||||||
Washington Ave MOB | Albany, NY | — | 1,699 | 18,440 | 852 | 1,699 | 19,292 | 20,991 | (4,520 | ) | 1998-2000 | 2010 | 39 | |||||||||||||||||||||||||
Putnam MOB | Carmel, NY | — | — | 24,216 | 134 | — | 24,350 | 24,350 | (4,803 | ) | 2000 | 2010 | 39 | |||||||||||||||||||||||||
Capital Region Health Park | Latham, NY | — | 2,305 | 37,494 | 3,849 | 2,305 | 41,343 | 43,648 | (10,078 | ) | 2001 | 2010 | 39 | |||||||||||||||||||||||||
Westchester MOBs | White Plains, NY | — | 17,274 | 41,865 | 2,292 | 17,274 | 44,157 | 61,431 | (7,078 | ) | 1967-1983 | 2014 | 29 | |||||||||||||||||||||||||
210 Westchester MOB | White Plains, NY | — | 8,628 | 18,408 | — | 8,628 | 18,408 | 27,036 | (2,239 | ) | 1981 | 2014 | 31 | |||||||||||||||||||||||||
Kindred MOBs | Avon, OH, Germantown,TN, Indianapolis, IN and Springfield, MO | — | 4,238 | 118,778 | (101 | ) | 4,238 | 118,677 | 122,915 | (1,929 | ) | 2013-2016 | 2017 | 39 | ||||||||||||||||||||||||
Diley Ridge MOB | Canal Winchester, OH | — | — | 9,811 | 70 | — | 9,881 | 9,881 | (820 | ) | 2010 | 2015 | 39 | |||||||||||||||||||||||||
Good Sam MOB | Cincinnati, OH | 8,700 | 1,825 | 9,966 | — | 1,825 | 9,966 | 11,791 | (200 | ) | 2011 | 2017 | 39 | |||||||||||||||||||||||||
Jewish MOB | Cincinnati, OH | — | — | 16,187 | — | — | 16,187 | 16,187 | (393 | ) | 1999 | 2017 | 35 | |||||||||||||||||||||||||
Trihealth | Cincinnati, OH | — | — | 34,894 | 313 | — | 35,207 | 35,207 | (423 | ) | 2016 | 2017 | 39 | |||||||||||||||||||||||||
Market Exchange MOP | Columbus, OH | — | 2,326 | 17,207 | 3,496 | 2,326 | 20,703 | 23,029 | (6,042 | ) | 2001-2003 | 2007-2010 | 39 | |||||||||||||||||||||||||
Polaris MOB | Columbus, OH | — | 1,447 | 12,192 | 19 | 1,447 | 12,211 | 13,658 | (689 | ) | 2012 | 2016 | 39 |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Gross Amount at Which Carried at Close of Period | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Encumbrances | Land | Buildings, Improvements and Fixtures | Land | Buildings, Improvements and Fixtures | Total (c) | Accumulated Depreciation (f) | Date of Construction | Date Acquired | Life on Which Building Depreciation in Income Statement is Computed (h) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2750 Monroe MOB | Norristown, PA | $ | — | $ | 2,323 | $ | 22,631 | $ | 5,423 | $ | 2,323 | $ | 28,054 | $ | 30,377 | $ | (12,984) | 1985 | 2007 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||
1740 South MOB | Philadelphia, PA | — | 1,855 | 7,735 | 241 | 1,855 | 7,976 | 9,831 | (726) | 1986 | 2019 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Main Line Bryn Mawr MOB | Philadelphia, PA | — | — | 46,967 | 5,095 | — | 52,062 | 52,062 | (6,077) | 2017 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Phoenixville MOBs | Phoenixville, PA | — | — | 60,287 | — | — | 60,287 | 60,287 | (295) | 1991-2008 | 2021 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Federal North MOB | Pittsburgh, PA | — | 2,489 | 30,268 | 4,463 | 2,489 | 34,731 | 37,220 | (10,290) | 1999 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Highmark Penn Ave | Pittsburgh, PA | — | 1,774 | 38,921 | 865 | 1,774 | 39,786 | 41,560 | (11,141) | 1907-1998 | 2012 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
WP Allegheny HQ MOB | Pittsburgh, PA | — | 1,514 | 32,368 | 3,669 | 1,514 | 36,037 | 37,551 | (11,020) | 2002 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
39 Broad Street | Charleston, SC | — | 3,180 | 1,970 | 3,161 | 3,480 | 4,831 | 8,311 | (1,249) | 1891 | 2015 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cannon Park Place | Charleston, SC | — | 425 | 8,651 | 942 | 425 | 9,593 | 10,018 | (3,284) | 1998 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MUSC Elm MOB | Charleston, SC | — | 1,172 | 4,361 | 178 | 1,172 | 4,539 | 5,711 | (978) | 2015 | 2016 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tides Medical Arts Center | Charleston, SC | — | 3,763 | 19,787 | 411 | 3,763 | 20,198 | 23,961 | (4,347) | 2007 | 2014 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bowman Center | Mt. Pleasant, SC | — | 3,896 | 6,874 | — | 3,896 | 6,874 | 10,770 | (67) | 2001 | 2021 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
East Cooper Medical Arts Center | Mt. Pleasant, SC | — | 2,470 | 6,289 | (290) | 2,470 | 5,999 | 8,469 | (1,630) | 2001 | 2014 | 32 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
East Cooper Medical Center | Mt. Pleasant, SC | — | 2,073 | 5,939 | 2,594 | 2,073 | 8,533 | 10,606 | (2,904) | 1992 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Mullis Building | Mt. Pleasant, SC | — | — | 18,810 | 48 | — | 18,858 | 18,858 | (401) | 2016 | 2021 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MUSC University MOB | North Charleston, SC | — | 1,524 | 9,627 | (882) | 1,524 | 8,745 | 10,269 | (1,615) | 2006 | 2015 | 36 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
St. Thomas DePaul MOB | Murfreesboro, TN | — | — | 55,040 | 1,003 | — | 56,043 | 56,043 | (7,320) | 2008 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amarillo Hospital | Amarillo, TX | — | 1,110 | 17,688 | 605 | 1,110 | 18,293 | 19,403 | (6,618) | 2007 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Austin Heart MOB | Austin, TX | — | — | 15,172 | 612 | — | 15,784 | 15,784 | (4,138) | 1999 | 2013 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BS&W MOBs | Austin, TX | — | — | 300,952 | 1,657 | — | 302,609 | 302,609 | (39,353) | 2009-2016 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Post Oak North MC | Austin, TX | — | 887 | 7,011 | (221) | 887 | 6,790 | 7,677 | (1,585) | 2007 | 2013 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MatureWell MOB | Bryan, TX | — | 1,307 | 11,078 | — | 1,307 | 11,078 | 12,385 | (1,858) | 2016 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Texas A&M Health Science Center | Bryan, TX | — | — | 32,494 | (2,009) | — | 30,485 | 30,485 | (7,374) | 2011 | 2013 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dallas Rehab Hospital | Carrollton, TX | — | 1,919 | 16,341 | (505) | 1,919 | 15,836 | 17,755 | (5,067) | 2006 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cedar Hill MOB | Cedar Hill, TX | — | 778 | 4,830 | 1,898 | 778 | 6,728 | 7,506 | (2,243) | 2007 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cedar Park MOB | Cedar Park, TX | — | — | 30,338 | 1,268 | — | 31,606 | 31,606 | (4,212) | 2007 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corsicana MOB | Corsicana, TX | — | — | 6,781 | 233 | — | 7,014 | 7,014 | (2,593) | 2007 | 2009 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dallas LTAC Hospital | Dallas, TX | — | 2,301 | 20,627 | — | 2,301 | 20,627 | 22,928 | (6,996) | 2007 | 2009 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forest Park Pavilion | Dallas, TX | — | 9,670 | 11,152 | 48,094 | 9,670 | 59,246 | 68,916 | (3,732) | 2010-2021 | 2012-2021 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forest Park Tower | Dallas, TX | — | 3,340 | 35,071 | 5,841 | 3,340 | 40,912 | 44,252 | (10,289) | 2011 | 2013 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Northpoint Medical | Dallas, TX | — | 2,388 | 14,621 | 1,629 | 2,388 | 16,250 | 18,638 | (3,496) | 2017 | 2017 | 20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Baylor MOBs | Dallas/Fort Worth, TX | — | 9,956 | 122,852 | 6,737 | 9,956 | 129,589 | 139,545 | (16,761) | 2013-2017 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Denton Med Rehab Hospital | Denton, TX | — | 2,000 | 11,704 | — | 2,000 | 11,704 | 13,704 | (4,444) | 2008 | 2009 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Denton MOB | Denton, TX | — | — | 7,543 | 733 | — | 8,276 | 8,276 | (2,567) | 2000 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cliff Medical Plaza MOB | El Paso, TX | — | 1,064 | 1,972 | 4,157 | 1,064 | 6,129 | 7,193 | (3,023) | 1977 | 2016 | 8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
El Paso MOB | El Paso, TX | — | 2,075 | 14,902 | (233) | 2,075 | 14,669 | 16,744 | (1,207) | 1994-2008 | 2019 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Providence Medical Plaza | El Paso, TX | — | — | 5,396 | 4,080 | — | 9,476 | 9,476 | (2,906) | 1981 | 2016 | 20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sierra Medical | El Paso, TX | — | — | 2,998 | 1,011 | — | 4,009 | 4,009 | (1,616) | 1972 | 2016 | 15 |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Gross Amount at Which Carried at Close of Period | ||||||||||||||||||||||||||||||||||||
Encumbrances | Land | Buildings, Improvements and Fixtures | Land | Buildings, Improvements and Fixtures | Total (c) | Accumulated Depreciation (f) | Date of Construction | Date Acquired | Life on Which Building Depreciation in Income Statement is Computed (h) | |||||||||||||||||||||||||||||
Gahanna MOB | Gahanna, OH | $ | — | $ | 1,078 | $ | 5,674 | $ | — | $ | 1,078 | $ | 5,674 | $ | 6,752 | $ | (311 | ) | 1997 | 2016 | 30 | |||||||||||||||||
Hilliard MOB | Hilliard, OH | — | 946 | 11,174 | 697 | 946 | 11,871 | 12,817 | (1,046 | ) | 2013 | 2015 | 39 | |||||||||||||||||||||||||
Hilliard II MOB | Hilliard, OH | — | 959 | 7,260 | 4 | 959 | 7,264 | 8,223 | (455 | ) | 2014 | 2016 | 38 | |||||||||||||||||||||||||
Park Place MOP | Kettering, OH | — | 1,987 | 11,341 | 3,065 | 1,987 | 14,406 | 16,393 | (5,330 | ) | 1998-2002 | 2007 | 39 | |||||||||||||||||||||||||
Liberty Falls MP | Liberty, OH | — | 842 | 5,640 | 991 | 842 | 6,631 | 7,473 | (2,380 | ) | 2008 | 2008 | 39 | |||||||||||||||||||||||||
Parma Ridge MOB | Parma, OH | — | 372 | 3,636 | 842 | 372 | 4,478 | 4,850 | (1,528 | ) | 1977 | 2008 | 39 | |||||||||||||||||||||||||
Deaconess MOP | Oklahoma City, OK | — | — | 25,975 | 3,672 | — | 29,647 | 29,647 | (9,069 | ) | 1991-1996 | 2008 | 39 | |||||||||||||||||||||||||
Silverton Health MOB | Woodburn, OR | — | 953 | 6,164 | — | 953 | 6,164 | 7,117 | (349 | ) | 2001 | 2016 | 35 | |||||||||||||||||||||||||
Monroeville MOB | Monroeville, PA | — | 3,264 | 7,038 | 1,036 | 3,264 | 8,074 | 11,338 | (2,121 | ) | 1985-1989 | 2013 | 39 | |||||||||||||||||||||||||
2750 Monroe MOB | Norristown, PA | — | 2,323 | 22,631 | 5,423 | 2,323 | 28,054 | 30,377 | (9,338 | ) | 1985 | 2007 | 39 | |||||||||||||||||||||||||
Main Line Bryn Mawr MOB | Philadelphia, PA | — | — | 46,967 | 695 | — | 47,662 | 47,662 | (709 | ) | 2017 | 2017 | 39 | |||||||||||||||||||||||||
Federal North MOB | Pittsburgh, PA | — | 2,489 | 30,268 | 779 | 2,489 | 31,047 | 33,536 | (6,808 | ) | 1999 | 2010 | 39 | |||||||||||||||||||||||||
Highmark Penn Ave | Pittsburgh, PA | — | 1,774 | 38,921 | 3,301 | 1,774 | 42,222 | 43,996 | (8,431 | ) | 1907-1998 | 2012 | 39 | |||||||||||||||||||||||||
WP Allegheny HQ MOB | Pittsburgh, PA | — | 1,514 | 32,368 | 2,608 | 1,514 | 34,976 | 36,490 | (7,023 | ) | 2002 | 2010 | 39 | |||||||||||||||||||||||||
39 Broad Street | Charleston, SC | — | 3,180 | 1,970 | 2,551 | 3,476 | 4,225 | 7,701 | (247 | ) | 1891 | 2015 | 39 | |||||||||||||||||||||||||
Cannon Park Place | Charleston, SC | — | 425 | 8,651 | 890 | 425 | 9,541 | 9,966 | (2,088 | ) | 1998 | 2010 | 39 | |||||||||||||||||||||||||
MUSC Elm MOB | Charleston, SC | — | 1,172 | 4,361 | 9 | 1,172 | 4,370 | 5,542 | (282 | ) | 2015 | 2016 | 39 | |||||||||||||||||||||||||
Tides Medical Arts Center | Charleston, SC | — | 3,763 | 19,787 | 317 | 3,763 | 20,104 | 23,867 | (2,129 | ) | 2007 | 2014 | 39 | |||||||||||||||||||||||||
GHS Memorial | Greenville, SC | — | — | 8,301 | 869 | — | 9,170 | 9,170 | (2,082 | ) | 1992 | 2009 | 39 | |||||||||||||||||||||||||
GHS MMC | Greenville, SC | 20,390 | 995 | 39,158 | 2,231 | 995 | 41,389 | 42,384 | (9,651 | ) | 1987-1998 | 2009 | 39 | |||||||||||||||||||||||||
GHS MOBs I | Greenville, SC | — | 1,644 | 9,144 | (792 | ) | 294 | 9,702 | 9,996 | (2,584 | ) | ��1974-1990 | 2009 | 39 | ||||||||||||||||||||||||
GHS Patewood MOP | Greenville, SC | — | — | 64,537 | 1,170 | — | 65,707 | 65,707 | (15,703 | ) | 1983-2007 | 2009 | 39 | |||||||||||||||||||||||||
GHS Greer MOBs | Greenville, Travelers Rest and Greer, SC | — | 1,309 | 14,639 | 280 | 1,309 | 14,919 | 16,228 | (3,528 | ) | 1992-2008 | 2009 | 39 | |||||||||||||||||||||||||
Hilton Head Heritage MOP | Hilton Head Island, SC | — | 1,125 | 5,398 | (2,387 | ) | 1,125 | 3,011 | 4,136 | (1,278 | ) | 1996 | 2010 | 39 | ||||||||||||||||||||||||
Hilton Head Moss Creek MOB | Hilton Head Island, SC | — | 209 | 2,066 | (837 | ) | 209 | 1,229 | 1,438 | (471 | ) | 2010 | 2010 | 39 | ||||||||||||||||||||||||
East Cooper Medical Arts Center | Mt. Pleasant, SC | — | 2,470 | 6,289 | 125 | 2,470 | 6,414 | 8,884 | (1,218 | ) | 2001 | 2014 | 32 | |||||||||||||||||||||||||
East Cooper Medical Center | Mt. Pleasant, SC | — | 2,073 | 5,939 | 1,543 | 2,073 | 7,482 | 9,555 | (1,831 | ) | 1992 | 2010 | 39 | |||||||||||||||||||||||||
MUSC University MOB | North Charleston, SC | — | 1,282 | 8,689 | 24 | 1,282 | 8,713 | 9,995 | (989 | ) | 2006 | 2015 | 36 | |||||||||||||||||||||||||
Mary Black MOB | Spartanburg, SC | — | — | 12,523 | 230 | — | 12,753 | 12,753 | (3,539 | ) | 2006 | 2009 | 39 | |||||||||||||||||||||||||
Lenox Office Park | Memphis, TN | — | 1,670 | 13,626 | (6,221 | ) | 1,670 | 7,405 | 9,075 | (4,167 | ) | 2000 | 2007 | 39 | ||||||||||||||||||||||||
St. Thomas DePaul MOB | Murfreesboro, TN | — | — | 55,040 | 2 | — | 55,042 | 55,042 | (1,009 | ) | 2008 | 2017 | 39 | |||||||||||||||||||||||||
Mountain Empire MOBs | Rogersville, Kingsport and Bristol, TN & Norton and Pennington Gap, VA | — | 1,296 | 36,523 | 7,852 | 1,278 | 44,393 | 45,671 | (12,972 | ) | 1976-2006 | 2008-2011 | 39 | |||||||||||||||||||||||||
Amarillo Hospital | Amarillo, TX | — | 1,110 | 17,688 | 29 | 1,110 | 17,717 | 18,827 | (4,683 | ) | 2007 | 2008 | 39 | |||||||||||||||||||||||||
Austin Heart MOB | Austin, TX | — | — | 15,172 | 257 | — | 15,429 | 15,429 | (2,047 | ) | 1999 | 2013 | 39 | |||||||||||||||||||||||||
BS&W MOBs | Austin, TX | 60,150 | — | 300,952 | 265 | — | 301,217 | 301,217 | (5,289 | ) | 2009-2016 | 2017 | 39 | |||||||||||||||||||||||||
Post Oak North MC | Austin, TX | — | 887 | 7,011 | (39 | ) | 887 | 6,972 | 7,859 | (1,018 | ) | 2007 | 2013 | 39 | ||||||||||||||||||||||||
MatureWell MOB | Bryan, TX | — | 1,307 | 11,078 | — | 1,307 | 11,078 | 12,385 | (346 | ) | 2016 | 2017 | 39 | |||||||||||||||||||||||||
Texas A&M Health Science Center | Bryan, TX | — | — | 32,494 | 184 | — | 32,678 | 32,678 | (5,337 | ) | 2011 | 2013 | 39 | |||||||||||||||||||||||||
Dallas Rehab Hospital | Carrollton, TX | — | 1,919 | 16,341 | — | 1,919 | 16,341 | 18,260 | (3,617 | ) | 2006 | 2010 | 39 | |||||||||||||||||||||||||
Cedar Hill MOB | Cedar Hill, TX | — | 778 | 4,830 | 132 | 778 | 4,962 | 5,740 | (1,666 | ) | 2007 | 2008 | 39 | |||||||||||||||||||||||||
Cedar Park MOB | Cedar Park, TX | — | — | 30,338 | 48 | — | 30,386 | 30,386 | (579 | ) | 2007 | 2017 | 39 | |||||||||||||||||||||||||
Corsicana MOB | Corsicana, TX | — | — | 6,781 | 24 | — | 6,805 | 6,805 | (2,013 | ) | 2007 | 2009 | 39 |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Gross Amount at Which Carried at Close of Period | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Encumbrances | Land | Buildings, Improvements and Fixtures | Land | Buildings, Improvements and Fixtures | Total (c) | Accumulated Depreciation (f) | Date of Construction | Date Acquired | Life on Which Building Depreciation in Income Statement is Computed (h) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Texas Tech MOB | El Paso, TX | $ | — | $ | — | $ | 42,419 | $ | 2,040 | $ | — | $ | 44,459 | $ | 44,459 | $ | (1,178) | 2017 | 2020 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||
Texas Health MOB | Fort Worth, TX | — | — | 38,429 | 165 | — | 38,594 | 38,594 | (5,282) | 2014 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Forest Park Frisco MC | Frisco, TX | — | 1,238 | 19,979 | 9,038 | 1,238 | 29,017 | 30,255 | (9,851) | 2012 | 2013 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
T-Mobile Building | Frisco, TX | — | 4,807 | 67,076 | (3,139) | 4,807 | 63,937 | 68,744 | (7,827) | 2014 | 2017 | 38 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Greenville MOB | Greenville, TX | — | 616 | 10,822 | 633 | 616 | 11,455 | 12,071 | (4,172) | 2007 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7900 Fannin MOB | Houston, TX | — | — | 34,764 | 2,767 | — | 37,531 | 37,531 | (11,942) | 2005 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cypress Medical Building MOB | Houston, TX | — | — | 4,678 | 203 | — | 4,881 | 4,881 | (1,273) | 1984 | 2016 | 30 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cypress Station MOB | Houston, TX | — | 1,345 | 8,312 | (4,237) | 1,345 | 4,075 | 5,420 | (3,644) | 1981 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gemini MOB | Houston, TX | — | 4,619 | 17,450 | 153 | 4,619 | 17,603 | 22,222 | (1,410) | 1985-1986 | 2019 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Houston Medical Plaza | Houston, TX | — | 4,107 | 35,560 | 36 | 4,110 | 35,593 | 39,703 | (363) | 1983 | 2021 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Park Plaza MOB | Houston, TX | — | 5,719 | 50,054 | 8,389 | 5,719 | 58,443 | 64,162 | (15,664) | 1984 | 2016 | 24 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
T-Mobile Tower | Houston, TX | — | 8,314 | 15,335 | 35 | 8,314 | 15,370 | 23,684 | (419) | 1974 | 2021 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Triumph Hospital NW | Houston, TX | — | 1,377 | 14,531 | 164 | 1,377 | 14,695 | 16,072 | (5,819) | 1986 | 2007 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Memorial Hermann MOBs | Humble, TX | — | — | 9,479 | 13,361 | — | 22,840 | 22,840 | (3,130) | 1993 | 2017 | 25-39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jourdanton MOB | Jourdanton, TX | — | — | 17,804 | 2 | — | 17,806 | 17,806 | (2,384) | 2013 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Houston Methodist MOBs | Katy, TX | — | — | 43,078 | 7,760 | — | 50,838 | 50,838 | (5,641) | 2001-2006 | 2017 | 35-39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lone Star Endoscopy MOB | Keller, TX | — | 622 | 3,502 | 36 | 622 | 3,538 | 4,160 | (1,330) | 2006 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Seton Medical MOB | Kyle, TX | — | — | 30,102 | 2,617 | — | 32,719 | 32,719 | (4,470) | 2009 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Lewisville MOB | Lewisville, TX | — | 452 | 3,841 | (133) | 452 | 3,708 | 4,160 | (1,219) | 2000 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Longview Regional MOBs | Longview, TX | — | — | 59,258 | — | — | 59,258 | 59,258 | (8,209) | 2003-2015 | 2017 | 36-39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Terrace Medical Building | Nacogdoches, TX | — | — | 179 | 121 | — | 300 | 300 | (154) | 1975 | 2016 | 5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Towers Medical Plaza | Nacogdoches, TX | — | — | 786 | 236 | — | 1,022 | 1,022 | (617) | 1981 | 2016 | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
North Cypress MOBs | North Cypress/Houston, TX | — | 7,841 | 121,215 | 1,687 | 7,841 | 122,902 | 130,743 | (16,639) | 2006-2015 | 2017 | 35-39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pearland MOB | Pearland, TX | — | 912 | 4,628 | 314 | 912 | 4,942 | 5,854 | (1,732) | 2003-2007 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Independence Medical Village | Plano, TX | — | 4,229 | 17,874 | (132) | 4,229 | 17,742 | 21,971 | (3,347) | 2014 | 2016 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
San Angelo MOB | San Angelo, TX | — | — | 3,907 | (237) | — | 3,670 | 3,670 | (1,331) | 2007 | 2009 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mtn Plains Pecan Valley | San Antonio, TX | — | 416 | 13,690 | 512 | 416 | 14,202 | 14,618 | (5,091) | 1998 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sugar Land II MOB | Sugar Land, TX | — | — | 9,648 | 79 | — | 9,727 | 9,727 | (3,198) | 1999 | 2010 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Triumph Hospital SW | Sugar Land, TX | — | 1,670 | 14,018 | (670) | 1,656 | 13,362 | 15,018 | (5,625) | 1989 | 2007 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mtn Plains Clear Lake | Webster, TX | — | 832 | 21,168 | 5,761 | 832 | 26,929 | 27,761 | (8,382) | 2006 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
N. Texas Neurology MOB | Wichita Falls, TX | — | 736 | 5,611 | (1,957) | 736 | 3,654 | 4,390 | (1,838) | 1957 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wylie Medical Plaza | Wylie, TX | — | 1,412 | 15,353 | 272 | 1,412 | 15,625 | 17,037 | (1,205) | 2013 | 2020 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Renaissance MC | Bountiful, UT | — | 3,701 | 24,442 | 442 | 3,701 | 24,884 | 28,585 | (8,850) | 2004 | 2008 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Salt Lake Regional Medical Building | Salt Lake City, UT | — | — | 10,351 | 110 | — | 10,461 | 10,461 | (670) | 1989 | 2020 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fairfax MOB | Fairfax, VA | — | 2,404 | 14,074 | 193 | 2,404 | 14,267 | 16,671 | (1,379) | 1959 | 2019 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Oaks MOB | Fairfax, VA | — | — | 47,616 | 562 | — | 48,178 | 48,178 | (5,876) | 2009 | 2017 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aurora - Menomonee | Menomonee Falls, WI | — | 1,055 | 14,998 | — | 1,055 | 14,998 | 16,053 | (6,816) | 1964 | 2009 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aurora - Milwaukee | Milwaukee, WI | — | 350 | 5,508 | — | 350 | 5,508 | 5,858 | (2,508) | 1983 | 2009 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Columbia St. Mary's MOBs | Milwaukee, WI | — | — | 87,825 | 1,144 | — | 88,969 | 88,969 | (10,921) | 1994-2007 | 2017 | 35-39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | — | $ | 612,952 | $ | 6,155,907 | $ | 566,865 | $ | 619,820 | $ | 6,715,906 | $ | 7,335,726 | $ | (1,401,742) |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Gross Amount at Which Carried at Close of Period | ||||||||||||||||||||||||||||||||||||
Encumbrances | Land | Buildings, Improvements and Fixtures | Land | Buildings, Improvements and Fixtures | Total (c) | Accumulated Depreciation (f) | Date of Construction | Date Acquired | Life on Which Building Depreciation in Income Statement is Computed (h) | |||||||||||||||||||||||||||||
Dallas LTAC Hospital | Dallas, TX | $ | — | $ | 2,301 | $ | 20,627 | $ | — | $ | 2,301 | $ | 20,627 | $ | 22,928 | $ | (4,750 | ) | 2007 | 2009 | 39 | |||||||||||||||||
Forest Park Pavilion | Dallas, TX | — | 9,670 | 11,152 | (745 | ) | 9,670 | 10,407 | 20,077 | (1,818 | ) | 2010 | 2012 | 39 | ||||||||||||||||||||||||
Forest Park Tower | Dallas, TX | — | 3,340 | 35,071 | 1,623 | 3,340 | 36,694 | 40,034 | (5,808 | ) | 2011 | 2013 | 39 | |||||||||||||||||||||||||
Northpoint Medical | Dallas, TX | — | 2,388 | 14,621 | 148 | 2,388 | 14,769 | 17,157 | (77 | ) | 2017 | 2017 | 20 | |||||||||||||||||||||||||
Baylor MOBs | Dallas/Fort Worth, TX | 29,500 | 9,956 | 122,852 | 4,438 | 9,956 | 127,290 | 137,246 | (1,933 | ) | 2013-2017 | 2017 | 39 | |||||||||||||||||||||||||
Denton Med Rehab Hospital | Denton, TX | — | 2,000 | 11,704 | — | 2,000 | 11,704 | 13,704 | (3,219 | ) | 2008 | 2009 | 39 | |||||||||||||||||||||||||
Denton MOB | Denton, TX | — | — | 7,543 | 163 | — | 7,706 | 7,706 | (1,742 | ) | 2000 | 2010 | 39 | |||||||||||||||||||||||||
Cliff Medical Plaza | El Paso, TX | — | 1,064 | 1,972 | 158 | 1,064 | 2,130 | 3,194 | (586 | ) | 1977 | 2016 | 8 | |||||||||||||||||||||||||
Providence Medical Plaza | El Paso, TX | — | — | 5,396 | 424 | — | 5,820 | 5,820 | (753 | ) | 1981 | 2016 | 20 | |||||||||||||||||||||||||
Sierra Medical | El Paso, TX | — | — | 2,998 | 234 | — | 3,232 | 3,232 | (537 | ) | 1972 | 2016 | 15 | |||||||||||||||||||||||||
Texas Health MOB | Fort Worth, TX | — | — | 38,429 | 43 | — | 38,472 | 38,472 | (666 | ) | 2014 | 2017 | 39 | |||||||||||||||||||||||||
Conifer | Frisco, TX | — | 4,807 | 67,076 | 12 | 4,807 | 67,088 | 71,895 | (1,141 | ) | 2014 | 2017 | 39 | |||||||||||||||||||||||||
Forest Park Frisco MC | Frisco, TX | — | 1,238 | 19,979 | 2,869 | 1,238 | 22,848 | 24,086 | (3,622 | ) | 2012 | 2013 | 39 | |||||||||||||||||||||||||
Greenville MOB | Greenville, TX | — | 616 | 10,822 | 385 | 616 | 11,207 | 11,823 | (3,384 | ) | 2007 | 2008 | 39 | |||||||||||||||||||||||||
7900 Fannin MOB | Houston, TX | — | — | 34,764 | 1,669 | — | 36,433 | 36,433 | (8,068 | ) | 2005 | 2010 | 39 | |||||||||||||||||||||||||
Cypress Medical Building MOB | Houston, TX | — | — | 4,678 | 356 | — | 5,034 | 5,034 | (537 | ) | 1984 | 2016 | 30 | |||||||||||||||||||||||||
Cypress Station MOB | Houston, TX | — | 1,345 | 8,312 | 446 | 1,345 | 8,758 | 10,103 | (2,819 | ) | 1981 | 2008 | 39 | |||||||||||||||||||||||||
Park Plaza MOB | Houston, TX | — | 5,719 | 50,054 | 602 | 5,719 | 50,656 | 56,375 | (4,894 | ) | 1984 | 2016 | 24 | |||||||||||||||||||||||||
Triumph Hospital NW | Houston, TX | — | 1,377 | 14,531 | 237 | 1,377 | 14,768 | 16,145 | (5,113 | ) | 1986 | 2007 | 39 | |||||||||||||||||||||||||
Memorial Hermann MOBs | Humble, TX | — | — | 9,479 | (1,551 | ) | — | 7,928 | 7,928 | (203 | ) | 1993 | 2017 | 25-39 | ||||||||||||||||||||||||
Jourdanton MOB | Jourdanton, TX | 13,200 | — | 17,803 | 2 | — | 17,805 | 17,805 | (303 | ) | 2013 | 2017 | 39 | |||||||||||||||||||||||||
Houston Methodist MOBs | Katy, TX | — | — | 43,078 | 16 | — | 43,094 | 43,094 | (819 | ) | 2001-2006 | 2017 | 35-39 | |||||||||||||||||||||||||
Lone Star Endoscopy MOB | Keller, TX | — | 622 | 3,502 | (5 | ) | 622 | 3,497 | 4,119 | (1,031 | ) | 2006 | 2008 | 39 | ||||||||||||||||||||||||
Seton Medical MOB | Kyle, TX | 27,500 | — | 30,102 | 22 | — | 30,124 | 30,124 | (611 | ) | 2009 | 2017 | 39 | |||||||||||||||||||||||||
Lewisville MOB | Lewisville, TX | — | 452 | 3,841 | — | 452 | 3,841 | 4,293 | (967 | ) | 2000 | 2010 | 39 | |||||||||||||||||||||||||
Longview Regional MOBs | Longview, TX | 16,650 | — | 59,258 | — | — | 59,258 | 59,258 | (1,045 | ) | 2003-2015 | 2017 | 36-39 | |||||||||||||||||||||||||
Terrace Medical Building | Nacogdoches, TX | — | — | 179 | 5 | — | 184 | 184 | (79 | ) | 1975 | 2016 | 5 | |||||||||||||||||||||||||
Towers Medical Plaza | Nacogdoches, TX | — | — | 786 | 97 | — | 883 | 883 | (221 | ) | 1981 | 2016 | 10 | |||||||||||||||||||||||||
North Cypress MOBs | North Cypress/Houston, TX | — | 7,841 | 121,215 | 6 | 7,841 | 121,221 | 129,062 | (2,520 | ) | 2006-2015 | 2017 | 35-39 | |||||||||||||||||||||||||
Pearland MOB | Pearland, TX | — | 912 | 4,628 | 634 | 912 | 5,262 | 6,174 | (1,495 | ) | 2003-2007 | 2010 | 39 | |||||||||||||||||||||||||
Independence Medical Village | Plano, TX | — | 4,229 | 17,874 | 42 | 4,229 | 17,916 | 22,145 | (1,034 | ) | 2014 | 2016 | 39 | |||||||||||||||||||||||||
San Angelo MOB | San Angelo, TX | — | — | 3,907 | 117 | — | 4,024 | 4,024 | (1,194 | ) | 2007 | 2009 | 39 | |||||||||||||||||||||||||
Mtn Plains Pecan Valley | San Antonio, TX | — | 416 | 13,690 | 731 | 416 | 14,421 | 14,837 | (3,944 | ) | 1998 | 2008 | 39 | |||||||||||||||||||||||||
Sugar Land II MOB | Sugar Land, TX | — | — | 9,648 | 310 | — | 9,958 | 9,958 | (3,294 | ) | 1999 | 2010 | 39 | |||||||||||||||||||||||||
Triumph Hospital SW | Sugar Land, TX | — | 1,670 | 14,018 | (14 | ) | 1,656 | 14,018 | 15,674 | (5,013 | ) | 1989 | 2007 | 39 | ||||||||||||||||||||||||
Mtn Plains Clear Lake | Webster, TX | — | 832 | 21,168 | 1,488 | 832 | 22,656 | 23,488 | (5,960 | ) | 2006 | 2008 | 39 | |||||||||||||||||||||||||
N. Texas Neurology MOB | Wichita Falls, TX | — | 736 | 5,611 | (1,771 | ) | 736 | 3,840 | 4,576 | (1,639 | ) | 1957 | 2008 | 39 | ||||||||||||||||||||||||
Renaissance MC | Bountiful, UT | — | 3,701 | 24,442 | 134 | 3,701 | 24,576 | 28,277 | (6,705 | ) | 2004 | 2008 | 39 | |||||||||||||||||||||||||
Fair Oaks MOB | Fairfax, VA | — | — | 47,616 | (1 | ) | — | 47,615 | 47,615 | (730 | ) | 2009 | 2017 | 39 | ||||||||||||||||||||||||
Aurora - Menomenee | Menomonee Falls, WI | — | 1,055 | 14,998 | — | 1,055 | 14,998 | 16,053 | (4,969 | ) | 1964 | 2009 | 39 | |||||||||||||||||||||||||
Aurora - Milwaukee | Milwaukee, WI | — | 350 | 5,508 | — | 350 | 5,508 | 5,858 | (1,816 | ) | 1983 | 2009 | 39 | |||||||||||||||||||||||||
Columbia St. Mary's MOBs | Milwaukee, WI | — | — | 87,825 | 40 | — | 87,865 | 87,865 | (1,336 | ) | 1994-2007 | 2017 | 35-39 | |||||||||||||||||||||||||
Total | $ | 452,442 | $ | 478,905 | $ | 5,616,776 | $ | 220,462 | $ | 485,319 | $ | 5,830,824 | $ | 6,316,143 | $ | (734,783 | ) |
Initial Cost to Company | Cost Capitalized Subsequent to Acquisition (a) | Gross Amount at Which Carried at Close of Period | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Encumbrances | Land | Buildings, Improvements and Fixtures | Land | Buildings, Improvements and Fixtures | Total (c) | Accumulated Depreciation (f) | Date of Construction | Date Acquired | Life on Which Building Depreciation in Income Statement is Computed (h) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Undeveloped land: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Macon Pond MOB | Raleigh, NC | $ | — | $ | 5,504 | $ | — | $ | 13 | $ | 5,504 | $ | 13 | $ | 5,517 | $ | — | N/A | 2021 | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||
Forest Park Pavilion IV | Dallas, TX | — | 7,014 | — | — | 7,014 | — | 7,014 | — | N/A | 2019 | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Houston Heights | Houston, TX | — | 10,445 | — | 5 | 10,445 | 5 | 10,450 | — | N/A | 2020 | N/A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | — | $ | 22,963 | $ | — | $ | 18 | $ | 22,963 | $ | 18 | $ | 22,981 | $ | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate held for sale | $ | — | $ | (2,401) | $ | (39,693) | $ | 12,285 | (2,401) | (27,408) | (29,809) | $ | 6,263 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | — | $ | 633,514 | $ | 6,116,214 | $ | 579,168 | $ | 640,382 | $ | 6,688,516 | $ | 7,328,898 | $ | (1,395,479) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Balance as of the beginning of the year | $ | 7,104,085 | $ | 6,837,400 | $ | 6,269,023 | |||||||||||
Acquisitions | 278,124 | 171,728 | 505,424 | ||||||||||||||
Additions | 188,592 | 121,777 | 90,859 | ||||||||||||||
Dispositions and other | (189,156) | (26,820) | (27,906) | ||||||||||||||
Impairment | (22,938) | — | — | ||||||||||||||
Held for sale | (29,809) | — | — | ||||||||||||||
Balance as of the end of the year (d) | $ | 7,328,898 | $ | 7,104,085 | $ | 6,837,400 |
Year Ended December 31, | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Balance as of the beginning of the year | $ | 1,302,204 | $ | 1,085,048 | $ | 882,488 | |||||||||||
Additions | 246,417 | 236,271 | 217,566 | ||||||||||||||
Dispositions and other | (146,879) | (19,115) | (15,006) | ||||||||||||||
Held for sale | (6,263) | — | — | ||||||||||||||
Balance as of the end of the year (g) | $ | 1,395,479 | $ | 1,302,204 | $ | 1,085,048 |
Year Ended December 31, | |||||||||||
2017 | 2016 | 2015 | |||||||||
Balance as of the beginning of the year | $ | 3,853,042 | $ | 3,204,863 | $ | 2,953,532 | |||||
Acquisitions | 2,447,896 | 647,339 | 266,747 | ||||||||
Additions | 86,723 | 43,637 | 28,828 | ||||||||
Dispositions | (57,596 | ) | (39,717 | ) | (43,318 | ) | |||||
Impairments | (13,922 | ) | (3,080 | ) | (926 | ) | |||||
Balance as of the end of the year (d) | $ | 6,316,143 | $ | 3,853,042 | $ | 3,204,863 |
Year Ended December 31, | |||||||||||
2017 | 2016 | 2015 | |||||||||
Balance as of the beginning of the year | $ | 581,505 | $ | 474,223 | $ | 383,966 | |||||
Additions | 171,545 | 117,282 | 101,194 | ||||||||
Dispositions | (18,267 | ) | (10,000 | ) | (10,937 | ) | |||||
Balance as of the end of the year (g) | $ | 734,783 | $ | 581,505 | $ | 474,223 |
In Thousands | |||||||||||||||||||||||||||||||||||
Interest Rate | Final Maturity Date | Payment Terms | Prior Liens | Face Amount | Carrying Amount | Principal Amount of Loans Subject to Delinquent Principal or Interest | |||||||||||||||||||||||||||||
Mortgage loan on real estate located in: | |||||||||||||||||||||||||||||||||||
Texas | 10.00 | % | 7/1/2022 | (1) | $ | — | $ | 15,000 | $ | 14,267 | $ | — | |||||||||||||||||||||||
Mezzanine loans on real estate located in: | |||||||||||||||||||||||||||||||||||
Texas | 8.00 | % | 6/24/2024 | (2) | — | 49,319 | 48,793 | — | |||||||||||||||||||||||||||
North Carolina | 8.00 | % | 12/22/2024 | (3) | — | 6,000 | 6,012 | — | |||||||||||||||||||||||||||
Total real estate notes receivable | $ | — | $ | 70,319 | $ | 69,072 | $ | — | |||||||||||||||||||||||||||
Accrued interest receivable | — | — | 42 | — | |||||||||||||||||||||||||||||||
Total real estate notes receivable, net | $ | — | $ | 70,319 | $ | 69,114 | $ | — | |||||||||||||||||||||||||||
(1) Twelve-month prefunded interest reserve, with principal sum and interest on unpaid principal due on the maturity date. | |||||||||||||||||||||||||||||||||||
(2) Interest is accrued and funded utilizing interest reserves, funded through payment-in-kind interest, until such time the interest reserve is fully funded. Thereafter, interest only payments due with principal and any unpaid interest due on the maturity date. | |||||||||||||||||||||||||||||||||||
(2) Capitalized interest through maturity, with outstanding principal and accrued interest due on the maturity date. |
Year Ended December 31, | |||||||||||||||||
2021 | 2020 | 2019 | |||||||||||||||
Balance as of the beginning of the year | $ | 555 | $ | 1,332 | $ | 2,070 | |||||||||||
Additions: | |||||||||||||||||
New real estate notes | 67,032 | 6,000 | — | ||||||||||||||
Capitalized interest | 1,841 | — | — | ||||||||||||||
Accretion of fees and other items | 932 | — | — | ||||||||||||||
Deductions: | |||||||||||||||||
Mortgage loan retired in connection with an acquisition | — | (6,000) | — | ||||||||||||||
Collection of real estate loans | (555) | (777) | (738) | ||||||||||||||
Deferred fees and other items | (691) | — | — | ||||||||||||||
Balance as of the end of the year | $ | 69,114 | $ | 555 | $ | 1,332 |
Year Ended December 31, | |||||||||||
2017 | 2016 | 2015 | |||||||||
Balance as of the beginning of the year | $ | 12,737 | $ | — | $ | — | |||||
Additions: | |||||||||||
New mortgage loans | — | 12,737 | — | ||||||||
Deductions: | |||||||||||
Mortgage loan included in the consideration for the acquisition of a building | — | — | — | ||||||||
Collection of mortgage loans | (9,964 | ) | — | — | |||||||
Balance as of the end of the year | $ | 2,773 | $ | 12,737 | $ | — |
1.1 | |||||
1.5 | |||||
1.6 | |||||
2.1 | |||||
3.1 | |||||
3.2 | |||||
3.3 | |||||
3.4 | |||||
3.12 | |||||
4.1 | |||||
4.2 | |||||
4.4 | |||||
4.5* | |||||
5.1 |
5.2 | |||||
5.3 | |||||
5.4 | |||||
5.5 | |||||
5.7 | |||||
5.8 | |||||
5.9 | |||||
5.10 | |||||
5.11 | |||||
5.12 | |||||
8.1 | |||||
8.2 | |||||
8.4 | |||||
10.1 |
10.2 | |||||
10.3 | |||||
10.4 | |||||
10.5 | |||||
10.6† | |||||
10.19 | |||||
10.20 | |||||
10.21 | |||||
10.22 | |||||
10.23 | |||||
10.24 |
10.25 | |||||
10.41† | |||||
10.42 |
10.43 | |||||
21.1* | |||||
23.1* | |||||
23.2* | |||||
23.3 | |||||
23.4 | |||||
23.5 | |||||
23.6 |
23.7 | |||||
23.8 | |||||
23.9 | |||||
23.10 | |||||
23.11 | |||||
23.13 | |||||
23.14 | |||||
23.15 | |||||
23.16 | |||||
23.17 | |||||
31.1* | |||||
31.2* | |||||
31.3* | |||||
31.4* | |||||
32.1** | |||||
32.2** | |||||
32.3** | |||||
32.4** | |||||
101.INS* | Inline XBRL Instance Document. | ||||
101.SCH* | Inline XBRL Taxonomy Extension Schema Document. |
101.CAL* | Inline XBRL Taxonomy Extension Calculation Linkbase Document. | ||||
101.DEF* | Inline XBRL Taxonomy Extension Definition Linkbase Document. | ||||
101.LAB* | Inline XBRL Taxonomy Extension Label Linkbase Document. | ||||
101.PRE* | Inline XBRL Taxonomy Extension Presentation Linkbase Document. | ||||
104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). | ||||
* | |||||
Furnished herewith. | |||||
† | Compensatory plan or arrangement. |
Healthcare Trust of America, Inc. | |||||||||||
By: | /s/ Peter N. Foss | Interim President and Chief Executive Officer | |||||||||
Peter N. Foss | (Principal Executive Officer) | ||||||||||
Date: | March 1, 2022 | ||||||||||
By: | /s/ Robert A. Milligan | Chief Financial Officer | |||||||||
Robert A. Milligan | (Principal Financial Officer and Principal Accounting Officer) | ||||||||||
Date: | March 1, 2022 | ||||||||||
By: | /s/ Peter N. Foss | Interim President and Chief Executive Officer | |||||||||
Peter N. Foss | (Principal Executive Officer) | ||||||||||
Date: | March 1, 2022 | ||||||||||
By: | /s/ Robert A. Milligan | Chief Financial Officer | |||||||||
Robert A. Milligan | (Principal Financial Officer and Principal Accounting Officer) | ||||||||||
Date: | March 1, 2022 | ||||||||||
By: | /s/ W. Bradley Blair, II | Lead Director | |||||||||
W. Bradley Blair, II | |||||||||||
Date: | March 1, 2022 | ||||||||||
By: | /s/ Vicki U. Booth | Director | |||||||||
Vicki U. Booth | |||||||||||
Date: | March 1, 2022 | ||||||||||
By: | /s/ H. Lee Cooper | Director | |||||||||
H. Lee Cooper | |||||||||||
Date: | March 1, 2022 | ||||||||||
By: | /s/ Warren D. Fix | Director | |||||||||
Warren D. Fix | |||||||||||
Date: | March 1, 2022 | ||||||||||
By: | /s/ Jay P. Leupp | Director | |||||||||
Jay P. Leupp | |||||||||||
Date: | March 1, 2022 |
Healthcare Trust of America Holdings, LP | |||||||||||
By: | Healthcare Trust of America, Inc., | ||||||||||
its General Partner | |||||||||||
By: | /s/ Peter N. Foss | Interim President and Chief Executive Officer | |||||||||
Peter N. Foss | (Principal Executive Officer) | ||||||||||
Date: | March 1, 2022 | ||||||||||
By: | /s/ Robert A. Milligan | Chief Financial Officer | |||||||||
Robert A. Milligan | (Principal Financial Officer and Principal Accounting Officer) | ||||||||||
Date: | March 1, 2022 |
By: | /s/ Peter N. Foss | Interim President and Chief Executive Officer | |||||||||
Peter N. Foss | (Principal Executive Officer) of Healthcare Trust of America, Inc., | ||||||||||
Date: | March 1, 2022 | general partner of Healthcare Trust of America Holdings, LP | |||||||||
By: | /s/ Robert A. Milligan | Chief Financial Officer | |||||||||
Robert A. Milligan | (Principal Financial Officer and Principal Accounting Officer) of | ||||||||||
Date: | March 1, 2022 | Healthcare Trust of America, Inc., general partner of Healthcare Trust | |||||||||
of America Holdings, LP | |||||||||||
By: | /s/ W. Bradley Blair, II | Lead Director of Healthcare Trust of America, Inc., general partner of | |||||||||
W. Bradley Blair, II | Healthcare Trust of America Holdings, LP | ||||||||||
Date: | March 1, 2022 | ||||||||||
By: | /s/ Vicki U. Booth | Director of Healthcare Trust of America, Inc., general partner of | |||||||||
Vicki U. Booth | Healthcare Trust of America Holdings, LP | ||||||||||
Date: | March 1, 2022 | ||||||||||
By: | /s/ H. Lee Cooper | Director of Healthcare Trust of America, Inc., general partner of | |||||||||
H. Lee Cooper | Healthcare Trust of America Holdings, LP | ||||||||||
Date: | March 1, 2022 | ||||||||||
By: | /s/ Warren D. Fix | Director of Healthcare Trust of America, Inc., general partner of | |||||||||
Warren D. Fix | Healthcare Trust of America Holdings, LP | ||||||||||
Date: | March 1, 2022 | ||||||||||
By: | /s/ Jay P. Leupp | Director of Healthcare Trust of America, Inc., general partner of | |||||||||
Jay P. Leupp | Healthcare Trust of America Holdings, LP | ||||||||||
Date: | March 1, 2022 |