Document and Entity Information
Document and Entity Information - USD ($) shares in Millions, $ in Billions | 12 Months Ended | ||
Dec. 31, 2020 | Feb. 19, 2021 | Jun. 30, 2020 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | MPW | ||
Entity Registrant Name | Medical Properties Trust, Inc | ||
Entity Central Index Key | 0001287865 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Shell Company | false | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity Common Stock, Shares Outstanding | 580 | ||
Entity Public Float | $ 9.8 | ||
Title of 12(b) Security | Common stock, par value $0.001 per share, of Medical Properties Trust, Inc. | ||
Security Exchange Name | NYSE | ||
Entity File Number | 001-32559 | ||
Entity Tax Identification Number | 20-0191742 | ||
Entity Address, Address Line One | 1000 Urban Center Drive | ||
Entity Address, Address Line Two | Suite 501 | ||
Entity Address, City or Town | Birmingham | ||
Entity Address, State or Province | AL | ||
Entity Address, Postal Zip Code | 35242 | ||
City Area Code | 205 | ||
Local Phone Number | 969-3755 | ||
Entity Incorporation, State or Country Code | MD | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Entity Interactive Data Current | Yes | ||
Documents Incorporated by Reference | Portions of the definitive Proxy Statement of Medical Properties Trust, Inc. for the Annual Meeting of Stockholders to be held on May 26, 2021 are incorporated by reference into Items 10 through 14 of Part III, of this Annual Report on Form 10-K. | ||
MPT Operating Partnership, L.P. [Member] | |||
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | MPT Operating Partnership, L.P. | ||
Entity Central Index Key | 0001524607 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Shell Company | false | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity File Number | 333-177186 | ||
Entity Tax Identification Number | 20-0242069 | ||
Entity Address, Address Line One | 1000 Urban Center Drive | ||
Entity Address, Address Line Two | Suite 501 | ||
Entity Address, City or Town | Birmingham | ||
Entity Address, State or Province | AL | ||
Entity Address, Postal Zip Code | 35242 | ||
City Area Code | 205 | ||
Local Phone Number | 969-3755 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Interactive Data Current | Yes |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Real estate assets | ||
Land | $ 1,463,200 | $ 1,017,402 |
Buildings and improvements | 9,286,507 | 6,295,084 |
Construction in progress | 30,139 | 168,212 |
Intangible lease assets | 1,299,081 | 622,056 |
Investment in financing leases | 2,010,922 | 2,060,302 |
Mortgage loans | 248,080 | 1,275,022 |
Gross investment in real estate assets | 14,337,929 | 11,438,078 |
Accumulated depreciation | (728,176) | (504,651) |
Accumulated amortization | (105,353) | (65,391) |
Net investment in real estate assets | 13,504,400 | 10,868,036 |
Cash and cash equivalents | 549,884 | 1,462,286 |
Interest and rent receivables | 46,208 | 31,357 |
Straight-line rent receivables | 490,462 | 334,231 |
Equity investments | 1,123,623 | 926,990 |
Other loans | 858,368 | 544,832 |
Other assets | 256,069 | 299,599 |
Total Assets | 16,829,014 | 14,467,331 |
Liabilities | ||
Debt, net | 8,865,458 | 7,023,679 |
Accounts payable and accrued expenses | 438,750 | 291,489 |
Deferred revenue | 36,177 | 16,098 |
Obligations to tenants and other lease liabilities | 144,772 | 107,911 |
Total Liabilities | 9,485,157 | 7,439,177 |
Commitments and Contingencies | ||
Equity / Capital | ||
Preferred stock, $0.001 par value. Authorized 10,000 shares; no shares outstanding | ||
Common stock, $0.001 par value. Authorized 750,000 shares; issued and outstanding — 541,419 shares at December 31, 2020 and 517,522 shares at December 31, 2019 | 541 | 518 |
Limited Partners: | ||
Additional paid-in capital | 7,461,503 | 7,008,199 |
Retained (deficit) earnings | (71,411) | 83,012 |
Accumulated other comprehensive loss | (51,324) | (62,905) |
Treasury shares, at cost | (777) | (777) |
Total Medical Properties Trust, Inc. Stockholders' Equity (MPT Operating Partnership, L.P. capital) | 7,338,532 | 7,028,047 |
Non-controlling interests | 5,325 | 107 |
Total Equity / Capital | 7,343,857 | 7,028,154 |
Total Liabilities and Equity / Capital | 16,829,014 | 14,467,331 |
MPT Operating Partnership, L.P. [Member] | ||
Real estate assets | ||
Land | 1,463,200 | 1,017,402 |
Buildings and improvements | 9,286,507 | 6,295,084 |
Construction in progress | 30,139 | 168,212 |
Intangible lease assets | 1,299,081 | 622,056 |
Investment in financing leases | 2,010,922 | 2,060,302 |
Mortgage loans | 248,080 | 1,275,022 |
Gross investment in real estate assets | 14,337,929 | 11,438,078 |
Accumulated depreciation | (728,176) | (504,651) |
Accumulated amortization | (105,353) | (65,391) |
Net investment in real estate assets | 13,504,400 | 10,868,036 |
Cash and cash equivalents | 549,884 | 1,462,286 |
Interest and rent receivables | 46,208 | 31,357 |
Straight-line rent receivables | 490,462 | 334,231 |
Equity investments | 1,123,623 | 926,990 |
Other loans | 858,368 | 544,832 |
Other assets | 256,069 | 299,599 |
Total Assets | 16,829,014 | 14,467,331 |
Liabilities | ||
Debt, net | 8,865,458 | 7,023,679 |
Accounts payable and accrued expenses | 290,757 | 152,999 |
Deferred revenue | 36,177 | 16,098 |
Obligations to tenants and other lease liabilities | 144,772 | 107,911 |
Payable due to Medical Properties Trust, Inc. | 147,603 | 138,100 |
Total Liabilities | 9,484,767 | 7,438,787 |
Commitments and Contingencies | ||
Limited Partners: | ||
Accumulated other comprehensive loss | (51,324) | (62,905) |
Total Medical Properties Trust, Inc. Stockholders' Equity (MPT Operating Partnership, L.P. capital) | 7,338,922 | 7,028,437 |
Non-controlling interests | 5,325 | 107 |
Total Equity / Capital | 7,344,247 | 7,028,544 |
Total Liabilities and Equity / Capital | 16,829,014 | 14,467,331 |
General Partner [Member] | MPT Operating Partnership, L.P. [Member] | ||
Limited Partners: | ||
Total Equity / Capital | 73,977 | 70,939 |
General partner — issued and outstanding — 5,414 units at December 31, 2020 and 5,176 units at December 31, 2019 | 73,977 | 70,939 |
Common Units [Member] | MPT Operating Partnership, L.P. [Member] | ||
Limited Partners: | ||
Common units — issued and outstanding — 536,005 units at December 31, 2020 and 512,346 units at December 31, 2019 | $ 7,316,269 | $ 7,020,403 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2020 | Dec. 31, 2019 |
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 750,000,000 | 750,000,000 |
Common stock, shares issued | 541,419,000 | 517,522,000 |
Common stock, shares outstanding | 541,419,000 | 517,522,000 |
General Partner [Member] | MPT Operating Partnership, L.P. [Member] | ||
General partner, units issued | 5,414,000 | 5,176,000 |
General partner, units outstanding | 5,414,000 | 5,176,000 |
Common Units [Member] | MPT Operating Partnership, L.P. [Member] | ||
Limited Partners, units issued | 536,005,000 | 512,346,000 |
Limited Partners, units outstanding | 536,005,000 | 512,346,000 |
LTIP Units [Member] | MPT Operating Partnership, L.P. [Member] | ||
LTIP Units, shares issued | 0 | 232,000 |
LTIP Units, shares outstanding | 0 | 232,000 |
Consolidated Statements of Net
Consolidated Statements of Net Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenues | |||
Rent billed | $ 741,311 | $ 474,151 | $ 473,343 |
Straight-line rent | 158,881 | 110,456 | 74,741 |
Income from financing leases | 206,550 | 119,617 | 73,983 |
Interest and other income | 142,496 | 149,973 | 162,455 |
Total revenues | 1,249,238 | 854,197 | 784,522 |
Expenses | |||
Interest | 328,728 | 237,830 | 223,274 |
Real estate depreciation and amortization | 264,245 | 152,313 | 133,083 |
Property-related | 24,890 | 23,992 | 9,237 |
General and administrative | 131,663 | 96,411 | 81,003 |
Total expenses | 749,526 | 510,546 | 446,597 |
Other income (expense) | |||
(Loss) gain on sale of real estate | (2,833) | 41,560 | 719,392 |
Real estate impairment charges | (19,006) | (21,031) | (48,007) |
Earnings from equity interests | 20,417 | 16,051 | 14,165 |
Debt refinancing and unutilized financing costs | (28,180) | (6,106) | |
Other (including mark-to-market adjustments on equity securities) | (6,782) | (345) | (4,071) |
Total other income (expense) | (36,384) | 30,129 | 681,479 |
Income before income tax | 463,328 | 373,780 | 1,019,404 |
Income tax (expense) benefit | (31,056) | 2,621 | (927) |
Net income | 432,272 | 376,401 | 1,018,477 |
Net income attributable to non-controlling interests | (822) | (1,717) | (1,792) |
Net income attributable to MPT common stockholders (Operating Partnership partners) | $ 431,450 | $ 374,684 | $ 1,016,685 |
Earnings per share (unit) basic | |||
Net income attributable to MPT common stockholders (Operating Partnership partners) | $ 0.81 | $ 0.87 | $ 2.77 |
Weighted average shares (units) outstanding basic | 529,239 | 427,075 | 365,364 |
Earnings per share (unit) diluted | |||
Net income attributable to MPT common stockholders (Operating Partnership partners) | $ 0.81 | $ 0.87 | $ 2.76 |
Weighted average shares (units) outstanding diluted | 530,461 | 428,299 | 366,271 |
MPT Operating Partnership, L.P. [Member] | |||
Revenues | |||
Rent billed | $ 741,311 | $ 474,151 | $ 473,343 |
Straight-line rent | 158,881 | 110,456 | 74,741 |
Income from financing leases | 206,550 | 119,617 | 73,983 |
Interest and other income | 142,496 | 149,973 | 162,455 |
Total revenues | 1,249,238 | 854,197 | 784,522 |
Expenses | |||
Interest | 328,728 | 237,830 | 223,274 |
Real estate depreciation and amortization | 264,245 | 152,313 | 133,083 |
Property-related | 24,890 | 23,992 | 9,237 |
General and administrative | 131,663 | 96,411 | 81,003 |
Total expenses | 749,526 | 510,546 | 446,597 |
Other income (expense) | |||
(Loss) gain on sale of real estate | (2,833) | 41,560 | 719,392 |
Real estate impairment charges | (19,006) | (21,031) | (48,007) |
Earnings from equity interests | 20,417 | 16,051 | 14,165 |
Debt refinancing and unutilized financing costs | (28,180) | (6,106) | |
Other (including mark-to-market adjustments on equity securities) | (6,782) | (345) | (4,071) |
Total other income (expense) | (36,384) | 30,129 | 681,479 |
Income before income tax | 463,328 | 373,780 | 1,019,404 |
Income tax (expense) benefit | (31,056) | 2,621 | (927) |
Net income | 432,272 | 376,401 | 1,018,477 |
Net income attributable to non-controlling interests | (822) | (1,717) | (1,792) |
Net income attributable to MPT common stockholders (Operating Partnership partners) | $ 431,450 | $ 374,684 | $ 1,016,685 |
Earnings per share (unit) basic | |||
Net income attributable to MPT common stockholders (Operating Partnership partners) | $ 0.81 | $ 0.87 | $ 2.77 |
Weighted average shares (units) outstanding basic | 529,239 | 427,075 | 365,364 |
Earnings per share (unit) diluted | |||
Net income attributable to MPT common stockholders (Operating Partnership partners) | $ 0.81 | $ 0.87 | $ 2.76 |
Weighted average shares (units) outstanding diluted | 530,461 | 428,299 | 366,271 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net income | $ 432,272 | $ 376,401 | $ 1,018,477 |
Other comprehensive income: | |||
Unrealized loss on interest rate swap, net of tax | (33,091) | (9,033) | (3,317) |
Foreign currency translation gain (loss) | 44,672 | 4,330 | (28,836) |
Total comprehensive income | 443,853 | 371,698 | 986,324 |
Comprehensive income attributable to non-controlling interests | (822) | (1,717) | (1,792) |
Comprehensive income attributable to MPT common stockholders (Operating Partnership Partners) | 443,031 | 369,981 | 984,532 |
MPT Operating Partnership, L.P. [Member] | |||
Net income | 432,272 | 376,401 | 1,018,477 |
Other comprehensive income: | |||
Unrealized loss on interest rate swap, net of tax | (33,091) | (9,033) | (3,317) |
Foreign currency translation gain (loss) | 44,672 | 4,330 | (28,836) |
Total comprehensive income | 443,853 | 371,698 | 986,324 |
Comprehensive income attributable to non-controlling interests | (822) | (1,717) | (1,792) |
Comprehensive income attributable to MPT common stockholders (Operating Partnership Partners) | $ 443,031 | $ 369,981 | $ 984,532 |
Consolidated Statements of Equi
Consolidated Statements of Equity / Capital - USD ($) shares in Thousands, $ in Thousands | Total | MPT Operating Partnership, L.P. [Member] | MPT Operating Partnership, L.P. [Member]General Partner [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]MPT Operating Partnership, L.P. [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]MPT Operating Partnership, L.P. [Member]General Partner [Member] | Common Par Value [Member] | Common Par Value [Member]MPT Operating Partnership, L.P. [Member]Limited Partner [Member] | Common Par Value [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]MPT Operating Partnership, L.P. [Member]Limited Partner [Member] | Additional Paid-in Capital [Member] | Retained Earnings (Deficit) [Member] | Retained Earnings (Deficit) [Member]Cumulative Effect, Period of Adoption, Adjustment [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Other Comprehensive Loss [Member]MPT Operating Partnership, L.P. [Member] | Treasury Shares [Member] | Non-Controlling Interests [Member] | Non-Controlling Interests [Member]MPT Operating Partnership, L.P. [Member] | Long Term Incentive Plan [Member]MPT Operating Partnership, L.P. [Member]Limited Partner [Member] |
Beginning balance at Dec. 31, 2017 | $ 3,835,205 | $ 3,835,595 | $ 38,489 | $ 1,938 | $ 19 | $ 364 | $ 3,808,583 | $ 1,919 | $ 4,333,027 | $ (485,932) | $ (26,049) | $ (26,049) | $ (777) | $ 14,572 | $ 14,572 | |||
Beginning balance (Accounting Standards Update 2016-02) at Dec. 31, 2017 | $ 1,938 | $ 1,938 | ||||||||||||||||
Beginning balance (in shares) at Dec. 31, 2017 | 3,644 | 364,424 | 360,780 | 292 | ||||||||||||||
Net income | 1,018,477 | 1,018,477 | $ 10,167 | $ 1,006,518 | 1,016,685 | 1,792 | 1,792 | |||||||||||
Unrealized loss on interest rate swap, net of tax | (3,317) | (3,317) | (3,317) | (3,317) | ||||||||||||||
Foreign currency translation gain (loss) | (28,836) | (28,836) | (28,836) | (28,836) | ||||||||||||||
Stock vesting and amortization of stock-based compensation | 16,505 | 16,505 | $ 165 | $ 1 | $ 16,340 | 16,504 | ||||||||||||
Stock (Unit) vesting and amortization of stock (unit)-based compensation (shares) | 6 | 599 | 593 | |||||||||||||||
Conversion of LTIP units to common units (shares) | 60 | (60) | ||||||||||||||||
Redemption of MOP units | (816) | (816) | $ (816) | (816) | ||||||||||||||
Redemption of common units (shares) | (60) | |||||||||||||||||
Distributions to non-controlling interests, net | (2,534) | (2,534) | (2,534) | (2,534) | ||||||||||||||
Proceeds from offering (net of offering costs) | 94,239 | 94,239 | $ 942 | $ 6 | $ 93,297 | 94,233 | ||||||||||||
Proceeds from offering (net of offering costs) (shares) | 56 | 5,614 | 5,558 | |||||||||||||||
Dividends (Distributions) declared | (369,923) | (369,923) | $ (3,698) | $ (366,225) | (369,923) | |||||||||||||
Ending balance at Dec. 31, 2018 | 4,560,938 | 4,561,328 | $ 46,084 | $ 371 | $ 4,559,616 | 4,442,948 | 162,768 | (58,202) | (58,202) | (777) | 13,830 | 13,830 | ||||||
Ending balance (in shares) at Dec. 31, 2018 | 3,706 | 370,637 | 366,931 | 232 | ||||||||||||||
Net income | 376,401 | 376,401 | $ 3,746 | $ 370,938 | 374,684 | 1,717 | 1,717 | |||||||||||
Unrealized loss on interest rate swap, net of tax | (9,033) | (9,033) | (9,033) | (9,033) | ||||||||||||||
Foreign currency translation gain (loss) | 4,330 | 4,330 | 4,330 | 4,330 | ||||||||||||||
Stock vesting and amortization of stock-based compensation | 32,188 | 32,188 | $ 322 | $ 2 | $ 31,866 | 32,186 | ||||||||||||
Stock (Unit) vesting and amortization of stock (unit)-based compensation (shares) | 15 | 1,536 | 1,521 | |||||||||||||||
Distributions to non-controlling interests, net | (15,440) | (15,440) | (15,440) | (15,440) | ||||||||||||||
Proceeds from offering (net of offering costs) | 2,533,210 | 2,533,210 | $ 25,332 | $ 145 | $ 2,507,878 | 2,533,065 | ||||||||||||
Proceeds from offering (net of offering costs) (shares) | 1,455 | 145,349 | 143,894 | |||||||||||||||
Dividends (Distributions) declared | (454,440) | (454,440) | $ (4,545) | $ (449,895) | (454,440) | |||||||||||||
Ending balance at Dec. 31, 2019 | 7,028,154 | 7,028,544 | $ 70,939 | $ 518 | $ 7,020,403 | 7,008,199 | 83,012 | (62,905) | (62,905) | (777) | 107 | 107 | ||||||
Ending balance (Accounting Standards Update 2016-13) at Dec. 31, 2019 | $ (8,399) | $ (8,399) | $ (84) | $ (8,315) | $ (8,399) | |||||||||||||
Ending balance (in shares) at Dec. 31, 2019 | 5,176 | 517,522 | 512,346 | 232 | ||||||||||||||
Net income | 432,272 | 432,272 | $ 4,315 | $ 427,135 | 431,450 | 822 | 822 | |||||||||||
Unrealized loss on interest rate swap, net of tax | (33,091) | (33,091) | (33,091) | (33,091) | ||||||||||||||
Foreign currency translation gain (loss) | 44,672 | 44,672 | 44,672 | 44,672 | ||||||||||||||
Stock vesting and amortization of stock-based compensation | 47,154 | 47,154 | $ 472 | $ 2 | $ 46,682 | 47,152 | ||||||||||||
Stock (Unit) vesting and amortization of stock (unit)-based compensation (shares) | 29 | 2,893 | 2,864 | |||||||||||||||
Sale of non-controlling interests | 5,097 | 5,097 | 5,097 | 5,097 | ||||||||||||||
Conversion of LTIP units to common units (shares) | 232 | (232) | ||||||||||||||||
Redemption of MOP units | (4,928) | (4,928) | $ (4,928) | (4,928) | ||||||||||||||
Redemption of common units (shares) | (232) | |||||||||||||||||
Distributions to non-controlling interests, net | (701) | (701) | (701) | (701) | ||||||||||||||
Proceeds from offering (net of offering costs) | 411,101 | 411,101 | $ 4,111 | $ 21 | $ 406,990 | 411,080 | ||||||||||||
Proceeds from offering (net of offering costs) (shares) | 209 | 21,004 | 20,795 | |||||||||||||||
Dividends (Distributions) declared | (577,474) | (577,474) | $ (5,776) | $ (571,698) | (577,474) | |||||||||||||
Ending balance at Dec. 31, 2020 | $ 7,343,857 | $ 7,344,247 | $ 73,977 | $ 541 | $ 7,316,269 | $ 7,461,503 | $ (71,411) | $ (51,324) | $ (51,324) | $ (777) | $ 5,325 | $ 5,325 | ||||||
Ending balance (in shares) at Dec. 31, 2020 | 5,414 | 541,419 | 536,005 |
Consolidated Statements of Eq_2
Consolidated Statements of Equity / Capital (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
MPT Operating Partnership, L.P. [Member] | |||
Dividends (Distributions) declared per common share / unit | $ 1.08 | $ 1.02 | $ 1 |
MPT Operating Partnership, L.P. [Member] | General Partner [Member] | |||
Dividends (Distributions) declared per common share / unit | 1.08 | 1.02 | 1 |
Retained Earnings (Deficit) [Member] | |||
Dividends (Distributions) declared per common share / unit | 1.08 | 1.02 | 1 |
Common Par Value [Member] | MPT Operating Partnership, L.P. [Member] | Limited Partner [Member] | |||
Dividends (Distributions) declared per common share / unit | $ 1.08 | $ 1.02 | $ 1 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Operating activities | |||
Net income | $ 432,272 | $ 376,401 | $ 1,018,477 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 275,953 | 156,575 | 141,492 |
Amortization of deferred financing costs and debt discount | 13,099 | 8,881 | 7,363 |
Straight-line rent revenue and other | (226,906) | (138,806) | (100,594) |
Share / (Unit)-based compensation expense | 47,154 | 32,188 | 16,505 |
Loss (gain) from sale of real estate | 2,833 | (41,560) | (719,392) |
Impairment charges | 19,006 | 21,031 | 48,007 |
Straight-line rent and other write-off | 26,415 | 22,447 | 18,002 |
Debt refinancing and unutilized financing costs | 28,180 | 6,106 | |
Pre-acquisition rent collected - Circle Transaction | (35,020) | ||
Other adjustments | 17,429 | (2,271) | (3,768) |
Changes in: | |||
Interest and rent receivables | (2,438) | 12,906 | 46,498 |
Other assets | 18,264 | (4,992) | (18,051) |
Accounts payable and accrued expenses | (18,424) | 39,630 | (5,596) |
Deferred revenue | 19,819 | 5,581 | 145 |
Net cash provided by operating activities | 617,636 | 494,117 | 449,088 |
Investing activities | |||
Cash paid for acquisitions and other related investments | (4,249,180) | (4,565,594) | (1,430,995) |
Net proceeds from sale of real estate | 94,177 | 111,766 | 1,513,666 |
Principal received on loans receivable | 1,306,187 | 920 | 885,917 |
Investment in loans receivable | (62,651) | (54,088) | (212,002) |
Construction in progress and other | (68,350) | (83,798) | (53,967) |
Return of equity investment | 69,224 | ||
Capital additions and other investments, net | (36,180) | (293,163) | (138,441) |
Net cash (used for) provided by investing activities | (2,946,773) | (4,883,957) | 564,178 |
Financing activities | |||
Proceeds from term debt, net of discount | 2,215,950 | 3,048,424 | 759,735 |
Payments of term debt | (800,000) | ||
Revolving credit facilities, net | 162,633 | (65,736) | (811,718) |
Dividends / Distribution paid | (567,969) | (411,697) | (363,906) |
Lease deposits and other obligations to tenants | 21,706 | (12,260) | (20,606) |
Proceeds from sale of common shares, net of offering costs | 411,101 | 2,533,210 | 94,239 |
Payment of debt refinancing, deferred financing costs and other financing activities | (42,347) | (50,057) | (3,614) |
Net cash provided by (used for) financing activities | 1,401,074 | 5,041,884 | (345,870) |
(Decrease) increase in cash, cash equivalents, and restricted cash for the year | (928,063) | 652,044 | 667,396 |
Effect of exchange rate changes | 16,441 | (6,478) | (17,218) |
Cash, cash equivalents, and restricted cash at beginning of year | 1,467,991 | 822,425 | 172,247 |
Cash, cash equivalents, and restricted cash at end of year | 556,369 | 1,467,991 | 822,425 |
Interest paid, including capitalized interest of $3,030 in 2020, $3,936 in 2019, and $1,480 in 2018 | 309,920 | 211,163 | 221,779 |
Supplemental schedule of non-cash financing activities: | |||
Dividends declared, unpaid | 147,666 | 138,161 | 95,419 |
Cash, cash equivalents, and restricted cash are comprised of the following: | |||
Cash and cash equivalents at beginning of period | 1,462,286 | 820,868 | 171,472 |
Restricted cash, included in Other assets at beginning of period | $ 5,705 | $ 1,557 | $ 775 |
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List] | us-gaap:OtherAssets | us-gaap:OtherAssets | us-gaap:OtherAssets |
Cash, cash equivalents, and restricted cash at beginning of year | $ 1,467,991 | $ 822,425 | $ 172,247 |
Cash and cash equivalents at end of period | 549,884 | 1,462,286 | 820,868 |
Restricted cash, included in Other assets at end of period | 6,485 | $ 5,705 | $ 1,557 |
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List] | us-gaap:OtherAssets | us-gaap:OtherAssets | |
Cash, cash equivalents, and restricted cash at end of year | 556,369 | $ 1,467,991 | $ 822,425 |
MPT Operating Partnership, L.P. [Member] | |||
Operating activities | |||
Net income | 432,272 | 376,401 | 1,018,477 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 275,953 | 156,575 | 141,492 |
Amortization of deferred financing costs and debt discount | 13,099 | 8,881 | 7,363 |
Straight-line rent revenue and other | (226,906) | (138,806) | (100,594) |
Share / (Unit)-based compensation expense | 47,154 | 32,188 | 16,505 |
Loss (gain) from sale of real estate | 2,833 | (41,560) | (719,392) |
Impairment charges | 19,006 | 21,031 | 48,007 |
Straight-line rent and other write-off | 26,415 | 22,447 | 18,002 |
Debt refinancing and unutilized financing costs | 28,180 | 6,106 | |
Pre-acquisition rent collected - Circle Transaction | (35,020) | ||
Other adjustments | 17,429 | (2,271) | (3,768) |
Changes in: | |||
Interest and rent receivables | (2,438) | 12,906 | 46,498 |
Other assets | 18,264 | (4,992) | (18,051) |
Accounts payable and accrued expenses | (18,424) | 39,630 | (5,596) |
Deferred revenue | 19,819 | 5,581 | 145 |
Net cash provided by operating activities | 617,636 | 494,117 | 449,088 |
Investing activities | |||
Cash paid for acquisitions and other related investments | (4,249,180) | (4,565,594) | (1,430,995) |
Net proceeds from sale of real estate | 94,177 | 111,766 | 1,513,666 |
Principal received on loans receivable | 1,306,187 | 920 | 885,917 |
Investment in loans receivable | (62,651) | (54,088) | (212,002) |
Construction in progress and other | (68,350) | (83,798) | (53,967) |
Return of equity investment | 69,224 | ||
Capital additions and other investments, net | (36,180) | (293,163) | (138,441) |
Net cash (used for) provided by investing activities | (2,946,773) | (4,883,957) | 564,178 |
Financing activities | |||
Proceeds from term debt, net of discount | 2,215,950 | 3,048,424 | 759,735 |
Payments of term debt | (800,000) | ||
Revolving credit facilities, net | 162,633 | (65,736) | (811,718) |
Dividends / Distribution paid | (567,969) | (411,697) | (363,906) |
Lease deposits and other obligations to tenants | 21,706 | (12,260) | (20,606) |
Proceeds from sale of units, net of offering costs | 411,101 | 2,533,210 | 94,239 |
Payment of debt refinancing, deferred financing costs and other financing activities | (42,347) | (50,057) | (3,614) |
Net cash provided by (used for) financing activities | 1,401,074 | 5,041,884 | (345,870) |
(Decrease) increase in cash, cash equivalents, and restricted cash for the year | (928,063) | 652,044 | 667,396 |
Effect of exchange rate changes | 16,441 | (6,478) | (17,218) |
Cash, cash equivalents, and restricted cash at beginning of year | 1,467,991 | 822,425 | 172,247 |
Cash, cash equivalents, and restricted cash at end of year | 556,369 | 1,467,991 | 822,425 |
Interest paid, including capitalized interest of $3,030 in 2020, $3,936 in 2019, and $1,480 in 2018 | 309,920 | 211,163 | 221,779 |
Supplemental schedule of non-cash financing activities: | |||
Dividends declared, unpaid | 147,666 | 138,161 | 95,419 |
Cash, cash equivalents, and restricted cash are comprised of the following: | |||
Cash and cash equivalents at beginning of period | 1,462,286 | 820,868 | 171,472 |
Restricted cash, included in Other assets at beginning of period | $ 5,705 | $ 1,557 | $ 775 |
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List] | us-gaap:OtherAssets | us-gaap:OtherAssets | us-gaap:OtherAssets |
Cash, cash equivalents, and restricted cash at beginning of year | $ 1,467,991 | $ 822,425 | $ 172,247 |
Cash and cash equivalents at end of period | 549,884 | 1,462,286 | 820,868 |
Restricted cash, included in Other assets at end of period | $ 6,485 | $ 5,705 | $ 1,557 |
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List] | us-gaap:OtherAssets | us-gaap:OtherAssets | us-gaap:OtherAssets |
Cash, cash equivalents, and restricted cash at end of year | $ 556,369 | $ 1,467,991 | $ 822,425 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Interest paid, capitalized | $ 3,030 | $ 3,936 | $ 1,480 |
MPT Operating Partnership, L.P. [Member] | |||
Interest paid, capitalized | $ 3,030 | $ 3,936 | $ 1,480 |
Organization
Organization | 12 Months Ended |
Dec. 31, 2020 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Organization | 1. Organization Medical Properties Trust, Inc., a Maryland corporation, was formed on August 27, 2003, under the Maryland General Corporation Law for the purpose of engaging in the business of investing in, owning, and leasing healthcare real estate. Our operating partnership subsidiary, MPT Operating Partnership, L.P., (the “Operating Partnership”) through which we conduct all of our operations, was formed in September 2003. Through another wholly-owned subsidiary, Medical Properties Trust, LLC, we are the sole general partner of the Operating Partnership. At present, we directly own all of the limited partnership interests in the Operating Partnership and have elected to report our required disclosures and that of the Operating Partnership on a combined basis, except where material differences exist. We have operated as a real estate investment trust (“REIT”) since April 6, 2004, and accordingly, elected REIT status upon the filing in September 2005 of the calendar year 2004 federal income tax return. Accordingly, we will generally not be subject to United States (“U.S.”) federal income tax, provided that we continue to qualify as a REIT and our distributions to our stockholders equal or exceed our taxable income. Certain non-real estate activities we undertake are conducted by entities which we elected to be treated as taxable REIT subsidiaries (“TRS”). Our TRS entities are subject to both U.S. federal and state income taxes. For our properties located outside the U.S., we are subject to the local taxes of the jurisdictions where our properties reside and/or legal entities are domiciled; however, we do not expect to incur substantial additional taxes in the U.S. from foreign based income as the majority of such income flows through our REIT. Our primary business strategy is to acquire and develop real estate and improvements, primarily for long-term lease to providers of healthcare services, such as operators of general acute care hospitals, inpatient physical rehabilitation hospitals, long-term acute care hospitals, freestanding ER/urgent care facilities, and behavioral health facilities. We also make mortgage and other loans to operators of similar facilities. In addition, we may obtain profits or equity interests in our tenants, from time-to-time, in order to enhance our overall return. Our business model facilitates acquisitions and recapitalizations, and allows operators of healthcare facilities to unlock the value of their real estate to fund facility improvements, technology upgrades, and other investments in operations. At December 31, 2020, we have investments in 392 facilities in 33 states in the U.S., in six countries in Europe, one country in South America, and across Australia. We manage our business as a single business segment. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies Use of Estimates: The preparation of our consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. During 2020, the global outbreak of a novel coronavirus, or COVID-19, spread all over the world including countries where we own and lease facilities. The World Health Organization designated COVID-19 as a pandemic, and numerous countries, including the U.S., declared national emergencies with respect to COVID-19. As the global impact of the outbreak evolved, many countries reacted by instituting quarantines and restrictions on travel, closing financial markets and/or restricting trade- including requiring medically necessary elective surgeries at hospitals to be deferred. Although hospitals are back accepting patients and performing medically necessary elective surgeries, many of these trade restrictions are still in place. We believe the estimates and assumptions underlying our consolidated financial statements are reasonable and supportable based on the information available as of December 31, 2020 (particularly as it relates to our assessments of the recoverability of our real estate and the adequacy of our credit loss reserves on loans and financing receivables). However, the ultimate impact to our tenants’ results of operations and liquidity and their ability to pay our rent and interest due to the impact of COVID-19 cannot be predicted with 100% confidence, particularly given the full scope, severity, and duration of the pandemic and the actions needed (including vaccine rollouts worldwide) to contain the pandemic or mitigate its impact is uncertain. This makes any estimates and assumptions as of December 31, 2020 inherently less certain than they would be absent the potential impact of COVID-19. Actual results could differ from those estimates. Principles of Consolidation: Property holding entities and other subsidiaries of which we own 100% of the equity or have a controlling financial interest evidenced by ownership of a majority voting interest are consolidated. All inter-company balances and transactions are eliminated. For entities in which we own less than 100% of the equity interest, we consolidate the property if we have the direct or indirect ability to control the entities’ activities based upon the terms of the respective entities’ ownership agreements. For these entities, we record a non-controlling interest representing equity held by non-controlling interests. We continually evaluate all of our transactions and investments to determine if they represent variable interests in a variable interest entity. If we determine that we have a variable interest in a variable interest entity, we then evaluate if we are the primary beneficiary of the variable interest entity. The evaluation is a qualitative assessment as to whether we have the ability to direct the activities of a variable interest entity that most significantly impact the entity’s economic performance. We consolidate each variable interest entity in which we, by virtue of or transactions with our investments in the entity, are considered to be the primary beneficiary. At December 31, 2020, we had loans and/or equity investments in certain variable interest entities approximating $230 million, which represents our maximum exposure to loss as a result of our involvement in such entities. We have determined that we were not the primary beneficiary of any variable interest entity in which we hold a variable interest because we do not control the activities (such as the day-to-day operations) that most significantly impact the economic performance of these entities. Investments in Unconsolidated Entities: Investments in entities in which we have the ability to significantly influence (but not control) are accounted for by the equity method, such as our joint venture with Primotop Holdings S.à.r.l. (“Primotop”) as discussed in Note 3 . Under the equity method of accounting, our share of the investee’s earnings or losses are included in the “Earnings from equity interests” line of our consolidated statements of net income. Except for our joint venture with Primotop, we have elected to record our share of such investee’s earnings or losses on a lag basis. The initial carrying value of investments in unconsolidated entities is based on the amount paid to purchase the interest in the investee entity. Subsequently, our investments are increased/decreased by our share in the investees’ earnings/losses and decreased by cash distributions from our investees. To the extent that our cost basis is different from the basis reflected at the investee entity level, the basis difference is generally amortized over the lives of the related assets and liabilities, and such amortization is included in our share of equity in earnings of the investee. We evaluate our equity method investments for impairment based upon a comparison of the fair value of the equity method investment to its carrying value, when impairment indicators exist. If we determine a decline in the fair value of an investment in an unconsolidated investee entity below its carrying value is other-than-temporary, an impairment is recorded. Investments in entities in which we do not control nor do we have the ability to significantly influence and for which there is no readily determinable fair value (such as our investments in Steward Health Care System LLC (“Steward”) and Median Kliniken S.á.r.l. (“MEDIAN”)) are accounted for at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions involving the investee. Any cash distributions on these types of investments are recorded to income upon receipt. For similar investments but for which there are readily determinable fair values, such investments are measured at fair value, with unrealized gains and losses recorded in income. Cash and Cash Equivalents: Certificates of deposit, short-term investments with original maturities of three months or less, and money-market mutual funds are considered cash equivalents. The majority of our cash and cash equivalents are held at major commercial banks, which at times may exceed the Federal Deposit Insurance Corporation limit. We have not experienced any losses to-date on our invested cash. Cash and cash equivalents which have been restricted as to its use are recorded in other assets. Revenue Recognition: Our revenues are primarily from leases and loans. On January 1, 2019, we adopted Accounting Standards Update (“ASU”) 2016-02, “Leases”, (“ASU 2016-02”). ASU 2016-02 sets out the principles for the recognition, measurement, presentation, and disclosure of leases for both parties to a contract (i.e. lessees and lessors). We adopted this standard using the modified retrospective approach and elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things permitted the following: no reassessment of whether existing contracts were or contained a lease and no reassessment of lease classification for existing leases. In addition, we made certain elections permitted which (1) allowed entities to apply the transition provisions of the new standard at its adoption date instead of at the earliest comparative period presented and (2) permitted lessors to account for lease and non-lease components as a single lease component in a contract if certain criteria were met. For lessors, this new standard of accounting for leases was substantially equivalent to previous guidance, but there were some differences which we highlight below: Operating Lease Revenue We receive income from operating leases based on the fixed required rents (base rents) per the lease agreements. Rent revenue from base rents is recorded on the straight-line method over the terms of the related lease agreements for new leases and the remaining terms of existing leases for those acquired as part of a property acquisition. The straight-line method records the periodic average amount of base rents earned over the term of a lease, taking into account contractual rent increases over the lease term. The straight-line method typically has the effect of recording more rent revenue from a lease than a tenant is required to pay early in the term of the lease. During the later parts of a lease term, this effect reverses with less rent revenue recorded than a tenant is required to pay. Rent revenue, as recorded on the straight-line method, in the consolidated statements of net income is presented as two amounts: rent billed and straight-line rent. Rent billed revenue is the amount of base rent actually billed to our tenants each period as required by the lease. Straight-line rent revenue is the difference between rent revenue earned based on the straight-line method and the amount recorded as rent billed revenue. We record the difference between rent revenues earned and amounts due per the respective lease agreements, as applicable, as an increase or decrease to straight-line rent receivables. Rental payments received prior to their recognition as income are classified as deferred revenue. Financing Lease Revenue Under the lease accounting rules adopted on January 1, 2019, if an acquisition and subsequent lease of a property to the seller does not meet the definition of a sale, we must account for the transaction as a financing with income recognized using the imputed interest method. Another type of financing lease that we carried forward from the previous lease accounting guidance is a direct financing lease (“DFL”). For leases accounted for as DFLs, the future minimum lease payments are recorded as a receivable. The difference between the future minimum lease payments and the estimated residual values less the cost of the properties is recorded as unearned income. Unearned income is deferred and amortized to income over the lease terms to provide a constant yield when collectability of the lease payments is reasonably assured. Investments in DFLs are presented net of unearned income. Other Leasing Revenue We begin recording base rent income from our development projects when the lessee takes physical possession of the facility, which may be different from the stated start date of the lease. Also, during construction of our development projects, we may be entitled to accrue rent based on the cost paid during the construction period (construction period rent). We accrue construction period rent as a receivable with a corresponding offset to deferred revenue during the construction period. When the lessee takes physical possession of the facility, we begin recognizing the deferred construction period revenue on the straight-line method over the term of the lease. We also receive additional rent (contingent rent) under some leases based on increases in the consumer price index (“CPI”) (or similar index outside the U.S.) or when CPI exceeds the annual minimum percentage increase as stipulated in the lease. Contingent rents are recorded as rent billed revenue in the period earned. Starting January 1, 2019 (with the adoption of ASU 2016-02), tenant payments for ground leases along with other operating expenses, such as property taxes and insurance, that are paid directly by us and reimbursed by our tenants are presented on a gross basis with the related revenues recorded in “Interest and other income” and the related expenses in “Property-related” in our consolidated statements of net income. All payments of other operating expenses made directly by the tenant to the applicable government or appropriate third-party vendor are recorded on a net basis, consistent with how all tenant payments or reimbursements pursuant to our “triple-net” leases were accounted for prior to the adoption of ASU 2016-02. Interest Revenue We receive interest income from our tenants/borrowers on mortgage loans, working capital loans, and other long-term loans. Interest income from these loans is recognized as earned based upon the principal outstanding and terms of the loans. Other Revenue Commitment fees received from lessees for development and leasing services are initially recorded as deferred revenue and recognized as income over the initial term of a lease to produce a constant effective yield on the lease (interest method). Commitment and origination fees from lending services are also recorded as deferred revenue initially and recognized as income over the life of the loan using the interest method. Acquired Real Estate Purchase Price Allocation: We account for acquisitions of real estate under asset acquisition accounting rules. Under this accounting standard, we allocate the purchase price (including any third-party transaction costs directly related to the acquisition) of acquired properties to tangible and identified intangible assets acquired and liabilities assumed (if any) based on their fair values. In making estimates of fair values for purposes of allocating purchase prices of acquired real estate, we may utilize a number of sources, from time-to-time, including available real estate broker data, independent appraisals that may be obtained in connection with the acquisition, internal data from previous acquisitions or developments, and other market data, including market comparables for significant assumptions such as market rental, capitalization, and discount rates. We also consider information obtained about each property as a result of our pre-acquisition due diligence, marketing, and leasing activities in estimating the fair value of the tangible and intangible assets acquired. We measure the aggregate value of lease intangible assets acquired based on the difference between (i) the property valued with new or in-place leases adjusted to market rental rates and (ii) the property valued as if vacant. Management’s estimates of value are made using methods similar to those used by independent appraisers (e.g., discounted cash flow analysis). Factors considered by management in our analysis include an estimate of carrying costs during hypothetical expected lease-up periods, considering current market conditions, and costs to execute similar leases. We also consider information obtained about each targeted facility as a result of our pre-acquisition due diligence, marketing, and leasing activities in estimating the fair value of the intangible assets acquired. In estimating carrying costs, management includes real estate taxes, insurance , and other operating expenses and estimates of lost rentals at market rates during the expected lease-up periods, which we expect to be about six months , but can be longer depending on specific local market conditions. Management also estimates costs to execute similar leases including leasing commissions, legal costs, and other related expenses to the extent that such costs are not already incurred in connection with a new lease origination as part of the transaction. Other intangible assets acquired may include customer relationship intangible values which are based on management’s evaluation of the specific characteristics of each prospective tenant’s lease and our overall relationship with that tenant. Characteristics to be considered by management in allocating these values include the nature and extent of our existing business relationships with the tenant, growth prospects for developing new business with the tenant, the tenant’s credit quality, and expectations of lease renewals, including those existing under the terms of the lease agreement, among other factors. We amortize the value of our lease intangible assets to expense over the term of the respective leases. If a lease is terminated early, the unamortized portion of the lease intangibles are charged to expense. We record above-market and below-market in-place lease values, if any, for our facilities, which are based on the present value of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of the lease. We amortize any resulting capitalized above-market lease values as a reduction of rental income over the lease term. We amortize any resulting capitalized below-market lease values as an increase to rental income over the lease term. If a lease is terminated early, the unamortized portion of the capitalized above/below market lease value is recognized in rental income at that time. Real Estate and Depreciation: Real estate, consisting of land, buildings and improvements, are maintained at cost. Although typically paid by our tenants, any expenditure for ordinary maintenance and repairs that we pay are expensed to operations as incurred. Significant renovations and improvements which improve and/or extend the useful life of the asset are capitalized and depreciated over their estimated useful lives. We record impairment losses on long-lived assets used in operations when events and circumstances indicate that the assets might be impaired and the undiscounted cash flows estimated to be generated by those assets, including an estimated liquidation amount, during the expected holding periods are less than the carrying amounts of those assets. Impairment losses are measured as the difference between carrying value and fair value of the assets. For assets held for sale, we cease recording depreciation expense and adjust the assets’ value to the lower of its carrying value or fair value, less cost of disposal. Fair value is based on estimated cash flows discounted at a risk-adjusted rate of interest. We classify real estate assets as held for sale when we have commenced an active program to sell the assets, and in the opinion of management, it is probable the asset will be sold within the next 12 months. Construction in progress includes the cost of land, the cost of construction of buildings, improvements, and fixed equipment, and costs for design and engineering. Other costs, such as interest, legal, property taxes, and corporate project supervision, which can be directly associated with the project during construction, are also included in construction in progress. We commence capitalization of costs associated with a development project when the development of the future asset is probable and activities necessary to get the underlying property ready for its intended use have been initiated. We stop the capitalization of costs when the property is substantially complete and ready for its intended use. Depreciation is calculated on the straight-line method over the estimated useful lives of the related real estate and other assets. Our weighted-average useful lives at December 31, 2020 are as follows: Buildings and improvements 39.0 years Lease intangibles 26.1 years Leasehold improvements 17.0 years Furniture, equipment, and other 9.8 years Credit Losses: Losses from Rent Receivables: Losses from Operating Lease Receivables: and/or straight-line rent receivables is needed. A provision for losses on rent receivables (including straight-line rent receivables) is ultimately recorded when it becomes probable that the receivable will not be collected in full. The provision is an amount which reduces the receivable to its estimated net realizable value based on a determination of the eventual amounts to be collected either from the debtor or from existing collateral, if any. Losses on Financing Lease Receivables: With the adoption of ASU 2016-13, we made the accounting policy election to exclude interest receivables from the credit loss reserve analysis. Such receivables are impaired and an allowance recorded when it is deemed probable that we will be unable to collect all amounts due. Like operating lease receivables, the need for an allowance is based upon our assessment of the lessee’s overall financial condition, economic resources and payment record, the prospects for support from any financially responsible guarantors, and, if appropriate, the realizable value of any collateral. Financing leases are placed on non-accrual status when we determine that the collectability of contractual amounts is not reasonably assured. If on non-accrual status, we generally account for the financing lease on a cash basis, in which income is recognized only upon receipt of cash. Loans Upon adoption of ASU 2016-13, we recorded a credit loss reserve of $8.4 million with the effect recorded in equity as a cumulative effect of a change in accounting principle. Earnings Per Share/Units: Basic earnings per common share/unit is computed by dividing net income by the weighted-average number of shares/units outstanding during the period. Diluted earnings per common share/unit is calculated by including the effect of dilutive securities. Our unvested restricted stock awards contain non-forfeitable rights to dividends, and accordingly, these awards are deemed to be participating securities. These participating securities are included in the earnings allocation in computing both basic and diluted earnings per common share/unit. Income Taxes: We conduct our business as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (“the Code”). To qualify as a REIT, we must meet certain organizational and operational requirements, including a requirement to distribute to stockholders at least 90% of our REIT’s ordinary taxable income. As a REIT, we generally pay little U.S. federal and state income tax because of the dividends paid deduction that we are allowed to take. If we fail to qualify as a REIT in any taxable year, we will then be subject to U.S. federal income taxes on our taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for federal income tax purposes for four years following the year during which qualification is lost, unless the Internal Revenue Service grants us relief under certain statutory provisions. Such an event could materially adversely affect our net income and net cash available for distribution to stockholders. However, we intend to operate in such a manner so that we will remain qualified as a REIT for U.S. federal income tax purposes. Our financial statements include the operations of a TRS, MPT Development Services, Inc. (“MDS”), and with many other entities, which are single member LLCs that are disregarded for tax purposes and are reflected in the tax returns of MDS. MDS is not entitled to a dividends paid deduction and is subject to U.S. federal, state, and local income taxes. MDS is authorized to provide property development, leasing, and management services for third-party owned properties, and we will make non-mortgage loans to and/or investments in our lessees through this entity . With the property acquisitions and investments in Europe, Australia, and South America, we are subject to income taxes internationally. However, we do not expect to incur any additional income taxes in the U.S. as such income from our international properties flows through our REIT income tax returns. For our TRS and international subsidiaries, we determine deferred tax assets and liabilities based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Any increase or decrease in our deferred tax assets/liabilities that results from a change in circumstances and that causes us to change our judgment about expected future tax consequences of events, is reflected in our tax provision when such changes occur. Deferred income taxes also reflect the impact of operating loss carryforwards. A valuation allowance is provided if we believe it is more likely than not that all or some portion of our deferred tax assets will not be realized. Any increase or decrease in the valuation allowance that results from a change in circumstances, and that causes us to change our judgment about our ability to realize the related deferred tax asset, is reflected in our tax provision when such changes occur. The calculation of our income taxes involves dealing with uncertainties in the application of complex tax laws and regulations in a multitude of jurisdictions across our global operations. An income tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, on the basis of technical merits. However, if a more likely than not position cannot be reached, we record a liability as an offset to the tax benefit and adjust the liabilities when our judgment changes as a result of the evaluation of new information not previously available. Because of the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from our current estimate of the uncertain tax position liabilities. These differences will be reflected as increases or decreases to income tax expense in the period in which new information is available. Stock-Based Compensation: We adopted the 2019 Equity Incentive Plan (the “Equity Incentive Plan”) during the second quarter of 2019. Awards of restricted stock and other equity-based awards with service conditions are valued at the average stock price per share on the date of grant and are amortized to compensation expense over the service periods (typically three years), using the straight-line method. Awards that contain market conditions are valued on the grant date using a Monte Carlo valuation model and are amortized to compensation expense over the derived service periods, which correspond to the periods over which we estimate the awards will be earned, which generally range from three to five years, using the straight-line method. Awards with performance conditions are valued at the average stock price per share on the date of grant and are amortized using the straight-line method over the service period, adjusted for the probability of achieving the performance conditions. Forfeitures of stock-based awards are recognized as they occur. Deferred Costs: Costs incurred that directly relate to the offerings of stock are deferred and netted against proceeds received from the offering. Leasing commissions and other leasing costs that would not have been incurred if the lease was not obtained are capitalized as deferred leasing costs and amortized on the straight-line method over the terms of the related lease agreements. Costs identifiable with loans made to borrowers are capitalized and recognized as a reduction in interest income over the life of the loan. Deferred Financing Costs: We generally capitalize financing costs incurred in connection with new financings and refinancings of debt. These costs are amortized over the lives of the related debt as an addition to interest expense. For debt with defined principal re-payment terms, the deferred costs are amortized to produce a constant effective yield on the debt (interest method) and are included within “Debt, net” on our consolidated balance sheets. For debt without defined principal repayment terms, such as our revolving credit facility, the deferred costs are amortized on the straight-line method over the term of the debt and are included as a component of “Other assets” on our consolidated balance sheets. Foreign Currency Translation and Transactions: Certain of our international subsidiaries’ functional currencies are the local currencies of their respective countries. We translate the results of operations of our foreign subsidiaries into U.S. dollars using average rates of exchange in effect during the period, and we translate balance sheet accounts using exchange rates in effect at the end of the period. We record resulting currency translation adjustments in “Accumulated other comprehensive income (loss)”, a component of stockholders’ equity on our consolidated balance sheets. Certain of our U.S. subsidiaries will enter into short-term and long-term transactions denominated in a foreign currency from time-to-time. Gains or losses resulting from these foreign currency transactions are revalued into U.S. dollars at the rates of exchange prevailing at the dates of the transactions. The effects of revaluation gains or losses on our short-term transactions are included in other income in the consolidated statements of income, while the revaluation effects on our long-term investments are recorded in “Accumulated other comprehensive income (loss)” on our consolidated balance sheets. Derivative Financial Investments and Hedging Activities: During our normal course of business, we may use certain types of derivative instruments for the purpose of managing interest rate and/or foreign currency risk. We record our derivative and hedging instruments at fair value on the balance sheet. Changes in the estimated fair value of derivative instruments that are not designated as hedges or that do not meet the criteria for hedge accounting are recognized in earnings. For derivatives designated as cash flow hedges, the change in the estimated fair value of the effective portion of the derivative is recognized in “A ccumulated other comprehensive income (loss) ” on our consolidated balance sheets, whereas the change in the estimated fair value of the ineffective portion is recognized in earnings. For derivatives designated as fair value hedges, the change in the estimated fair value of the effective portion of the derivatives offsets the change in the estimated fair value of the hedged item, whereas the change in the estimated fair value of the ineffective por tion is recognized in earnings . To qualify for hedge accounting, we formally document all relationships between hedging instruments and hedged items, as well as our risk management objective and strategy for undertaking the hedge prior to entering into a derivative transaction. This process includes specific identification of the hedging instrument and the hedge transaction, the nature of the risk being hedged and how the hedging instrument’s effectiveness in hedging the exposure to the hedged transaction’s variability in cash flows attributable to the hedged risk will be assessed. Both at the inception of the hedge and on an ongoing basis, we assess whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in cash flows or fair values of hedged items. In addition, for cash flow hedges, we assess whether the underlying forecasted transaction will occur. We discontinue hedge accounting if a derivative is not determined to be highly effective as a hedge or that it is probable that the underlying forecasted transaction will not occur. Fair Value Measurement: We measure and disclose the estimated fair value of financial assets and liabilities utilizing a hierarchy of valuation techniques based on whether the inputs to a fair value measurement are considered to be observable or unobservable in a marketplace. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. This hierarchy requires the use of observable market data when available. These inputs have created the following fair value hierarchy: • Level 1 — quoted prices for identical instruments in active markets; • Level 2 — quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and • Level 3 — fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable . We measure fair value using a set of standardized procedures that are outlined herein for all assets and liabilities which are required to be measured at their estimated fair value on either a recurring or non-recurring basis. When available, we utilize quoted market prices from an independent third party source to determine fair value and classify such items in Level 1. In some instances where a market price is availab |
Real Estate Activities
Real Estate Activities | 12 Months Ended |
Dec. 31, 2020 | |
Real Estate [Abstract] | |
Real Estate Activities | 3. Real Estate Activities New Investments For the years ended December 31, 2020, 2019, and 2018, we acquired or invested in the following net assets (in thousands): 2020 2019 2018 Land and land improvements $ 365,281 $ 400,539 $ 71,880 Buildings 2,547,313 1,951,066 686,739 Intangible lease assets — subject to amortization (weighted-average useful life of 27.5 years in 2020, 19.1 years in 2019, and 27.9 years in 2018) 642,699 227,468 90,651 Investment in financing leases 114,797 1,386,797 — Equity investments 233,593 415,836 245,267 Mortgage loans 176,840 51,267 — Other loans and assets 309,523 135,258 336,458 Liabilities assumed (140,866 ) (2,637 ) — Total assets acquired $ 4,249,180 $ 4,565,594 $ 1,430,995 Loans repaid(1) (834,743 ) — (764,447 ) Total net assets acquired $ 3,414,437 $ 4,565,594 $ 666,548 (1) The 2020 column includes approximately $750 million of loans advanced to Steward in 2017 and exchanged for the fee simple real estate of two hospitals as described below, as well as approximately $100 million of loans advanced to Ernest Health, Inc. (“Ernest”) in 2012 and exchanged for the fee simple real estate of four hospitals as described below. The 2018 column includes $0.8 billion of loans advanced to Steward in 2016 and repaid in 2018 as part of sale leaseback conversion described below. 2020 Activity Circle Transaction On January 8, 2020, we acquired a portfolio of 30 acute care hospitals located throughout the United Kingdom for a net purchase price of approximately £1.5 billion from affiliates of BMI Healthcare, Inc. (“BMI”), as part of a share purchase in which we also inherited certain deferred income tax liabilities and £27.6 million of unearned rent revenue. In a related transaction, affiliates of Circle Health Ltd. (“Circle”) entered into definitive agreements to acquire BMI and assume operations of its 52 facilities in the United Kingdom. As part of our acquisition, we inherited 30 existing leases with the operator that had initial fixed terms ending in 2050, with no renewal options but with annual inflation-based escalators. Once final regulatory approval was received in the 2020 second quarter, these 30 leases with Circle were amended (effective June 16, 2020) to include two five-year Other Transactions On December 31, 2020, we acquired an inpatient rehabilitation hospital in South Carolina for approximately $17 million. As part of the transaction, we acquired the fee simple real estate of three inpatient rehabilitation hospitals and one long-term acute care hospital in exchange for the reduction of the mortgage loans made to Ernest for such properties in 2012. The approximate $115 million investment in all five of these facilities is leased to Ernest pursuant to an existing long-term master lease that has an initial term ending in December 2037 with multiple extension options and annual escalation provisions. On December 29, 2020, we increased our equity ownership and related investment in Infracore SA (“Infracore”) by investing an additional CHF 206.5 million. We are accounting for our total investment in this joint venture (this investment along with our initial investment in 2019 as noted below) under the equity method. On November 17, 2020, we invested in the real estate of three general acute care hospitals in Colombia for approximately $135 million. These properties will be operated by the new international joint venture discussed below. On August 13, 2020, we acquired a general acute care hospital in Lynwood, California for a total investment of approximately $300 million. This property is leased to Prime Healthcare Services, Inc. (“Prime”), pursuant to an existing long-term master lease, which we extended its initial fixed term to August 2035 in connection with this transaction, with annual escalations and multiple extension options. On July 8, 2020, we acquired the fee simple real estate of two general acute care hospitals located in the Salt Lake City, Utah area, Davis Hospital & Medical Center and Jordan Valley Medical Center, in exchange for the reduction of the mortgage loans made to Steward for such properties and additional cash consideration of $200 million based on their relative fair value. The approximate $950 million investment in these two facilities is now subject to the Steward master lease that has an initial fixed term ending in October 2031 with multiple extension options and annual escalation provisions. On June 24, 2020, we originated a CHF 45 million secured loan to Infracore, which was paid-in full on December 2, 2020. On May 13, 2020, we formed a joint venture for the purpose of investing in the operations of international hospitals. As part of the formation, we originated a $205 million acquisition loan. We have a 49% interest in this joint venture and are accounting for our investment using the fair value option election. The joint venture simultaneously purchased from Steward the rights and existing assets related to all present and future international opportunities previously owned by Steward for strategic, regulatory, and risk management purposes. Other acquisitions in 2020 included three inpatient rehabilitation hospitals, two general acute care hospitals, and one private acute care hospital totaling approximately $300 million. One inpatient rehabilitation facility, located in Dahlen, Germany, was acquired on August 5, 2020 for €12.5 million and is leased to MEDIAN Kliniken S.à.r.l. (“MEDIAN”) pursuant to the existing master lease. One of the general acute care facilities, located in Darlington, United Kingdom, was acquired on August 7, 2020 for £29.4 million and is leased to Circle pursuant to a long-term lease. The other general acute care hospital, located in London, United Kingdom, was acquired on November 25, 2020 for £50 million via the purchase of a 999-year ground lease and is leased to The Royal Marsden NHS Foundation Trust pursuant to a long-term lease. The inpatient rehabilitation hospitals, one in Texas and one in Indiana, were acquired on December 17, 2020 for approximately $58 million and are leased to Curahealth Hospitals pursuant to a long-term lease. The private acute care hospital, located in Reading, United Kingdom, was acquired on December 18, 2020 for £85.0 million and is leased to Circle pursuant to the existing long-term Circle master lease. 2019 Activity LifePoint Acquisition On December 17, 2019, we acquired a portfolio of 10 acute care hospitals owned and operated by LifePoint Health, Inc. (“LifePoint”) for a combined purchase price of approximately $700.0 million. The properties are leased to LifePoint under one master lease agreement. The master lease had a 20-year initial term and two five-year Prospect Transaction On August 23, 2019, we invested in a portfolio of 14 acute care hospitals and two behavioral health facilities operated by Prospect Medical Holdings, Inc. (“Prospect”) for a combined purchase price of approximately $1.55 billion. Our investment included the acquisition of the real estate of 11 acute care hospitals and two behavioral health facilities for $1.4 billion. We are accounting for these properties as a financing (as presented in the “Investment in financing leases” line of the consolidated balance sheets) under lease accounting rules due to certain lessee end-of-term purchase options. In addition, we originated a $51.3 million mortgage loan, secured by a first mortgage on an acute care hospital, and a $112.9 million term loan which we expect will be converted into the acquisition of two additional acute care hospitals upon the satisfaction of certain conditions. The master leases and mortgage loan have substantially similar terms, with a 15-year fixed term subject to three extension options, plus annual inflation-based escalators. The agreements provide for the potential for a future purchase price adjustment of up to an additional $250.0 million, based on achievement of certain performance thresholds over a three-year Ramsay Acquisition On August 16, 2019, we acquired freehold interests in eight acute care hospitals located throughout England for an aggregate purchase price of approximately £347 million. The hospitals are leased to Ramsay pursuant to in-place net leases with remaining lease terms ending in 2037 and include annual fixed and periodic market-based escalations. Australia Transaction On June 6, 2019, we acquired 11 hospitals in Australia for a purchase price of approximately A$1.2 billion plus stamp duties and registration fees of A$66.6 million. The properties are leased to Healthscope, pursuant to master lease agreements that had an average initial term of 20 years, upon our acquisition, with annual fixed escalations and multiple extension options. Healthscope was acquired in a simultaneous transaction by Brookfield Business Partners L.P. and certain of its institutional partners. Switzerland Transactions On May 27, 2019, we invested in a portfolio of 13 acute care campuses and two additional properties in Switzerland for an aggregate purchase price of approximately CHF 236.6 million. The investment (which we account for under the equity method) was effected through our purchase of a stake in a Swiss healthcare real estate company, Infracore, from the previous majority shareholder, Aevis Victoria SA (“Aevis”). The facilities are leased to Swiss Medical Network, a wholly-owned Aevis subsidiary, pursuant to leases that had an average 23-year remaining term upon our acquisition and are subject to annual escalation provisions. Additionally, we purchased a 4.9% stake in Aevis for approximately CHF 47 million on June 28, 2019 that we are marking to fair value through income. Other Transactions On December 3, 2019, we invested in two acute care hospitals in Spain for a purchase price of approximately €117.3 million. The investment was effected through our purchase of a 45% stake in a Spanish entity. The facilities are leased to HM Hospitales pursuant to a master lease that had an initial lease term of 25 years upon our investment. The lease provides for annual inflation-based escalators. We are accounting for our 45% interest in this joint venture under the equity method. On November 28, 2019, we acquired an acute care hospital in Portugal for approximately €28.2 On August 30, 2019, we invested in a portfolio of facilities throughout various states for approximately $254 million. The properties are leased to Vibra Healthcare, LLC (“Vibra”) five-year On June 10, 2019, we acquired seven community hospitals in Kansas for approximately $145.4 million. The properties are leased to an affiliate of Saint Luke’s Health System (“SLHS”) pursuant to seven individual in-place leases that had an average remaining lease term of 14 years upon our acquisition. The leases provide for fixed escalations every five years and include two five-year Other acquisitions during 2019 included three acute care hospitals and one inpatient rehabilitation second third 2018 Activity Joint Venture Transaction On August 31, 2018, we completed a joint venture arrangement with Primotop pursuant to which we contributed 71 of our post-acute hospitals in Germany, with an aggregate fair value of €1.635 billion, for a 50% interest, while Primotop contributed cash for its 50% interest in the joint venture. As part of the transaction, we received an aggregate amount of approximately €1.14 billion, from the proceeds of the cash contributed by Primotop and the secured debt financing placed on the joint venture’s real estate, and we recognized an approximate €500 million gain on sale. At inception, our interest in the joint venture was made up of a 50% equity investment valued at approximately €210 million, which is being accounted for under the equity method of accounting, and a €290 million shareholder loan (with terms identical to Primotop’s shareholder loan). Other Transactions On August 31, 2018, we acquired an acute care facility in Pasco, Washington for $17.5 million. The property is leased to LifePoint, pursuant to the existing long-term master lease. On August 28, 2018, we acquired three inpatient rehabilitation hospitals in Germany for €17.3 million (including real estate transfer taxes). Upon acquisition, the properties were leased to MEDIAN, pursuant to a 27-year master lease with annual inflation-based escalators. During 2018, we acquired the fee simple real estate of five general acute care hospitals, four of which are located in Massachusetts and one located in Texas, from Steward in exchange for the reduction of $764.4 million of mortgage loans made to Steward in October 2016 and March 2018, along with additional cash consideration. These properties are being leased to Steward pursuant to the original master lease from October 2016. Development Activities 2020 Activity On November 23, 2020, we agreed to finance the development of and lease an inpatient rehabilitation facility in Stockton, California for $47.7 million. This facility will be leased to Ernest and is expected to commence rent in the first quarter of 2022. On May 15, 2020, we agreed to finance the development of and lease an inpatient rehabilitation facility in Bakersfield, California for $47.9 million. This facility will be leased to Ernest and is expected to commence rent in the fourth quarter of 2021. During the 2020 second quarter, we completed construction on one general acute care facility and one inpatient rehabilitation facility, both located in Birmingham, England. We began recognizing revenue on these two properties on June 29, 2020. These facilities are leased to Circle pursuant to a long-term lease. During the 2020 first quarter, we completed construction and began recording rental income on a general acute care facility located in Idaho Falls, Idaho. This facility commenced rent on January 21, 2020 and is leased to Surgery Partners, Inc. pursuant to an existing long-term lease. 2019 Activity On October 25, 2019, we entered into an agreement to finance the development of and lease a behavioral hospital in Houston, Texas, for $27.5 million. This facility commenced rent on December 18, 2020 and is leased to NeuroPsychiatric Hospitals pursuant to a long-term lease. 2018 Activity During the year ended December 31, 2018, we completed the construction of Ernest Flagstaff. This $25.5 million inpatient rehabilitation facility located in Flagstaff, Arizona opened on March 1, 2018 and is being leased to Ernest pursuant to a master lease that was amended in 2020 to extend its initial fixed term to 2037. This lease has annual escalation provisions and multiple extension options. See table below for a status summary of our current development projects (in thousands): Property Commitment Costs Incurred as of December 31, 2020 Estimated Rent Commencement Date Ernest (Bakersfield, California) $ 47,929 $ 19,034 4Q 2021 Ernest (Stockton, California) 47,700 11,105 1Q 2022 $ 95,629 $ 30,139 Disposals 2020 Activity During 2020, we completed the sale of nine facilities and six ancillary properties for approximately $94 million. The transactions resulted in a net loss of $2.8 million. 2019 Activity During 2019, we completed the sale of five facilities resulting in a gain on real estate of $41.6 million. 2018 Activity On October 4, 2018, we finalized a recapitalization agreement in which we sold our investment in the operations of Ernest and were repaid for our outstanding acquisition loans, working capital loans, and any unpaid interest. Total proceeds received from this transaction approximated $176 million. We retained ownership of the real estate and secured mortgage loans of our Ernest properties. On August 31, 2018, we completed the previously described joint venture arrangement with Primotop, in which we contributed the real estate of 71 of our post-acute hospitals in Germany, with a fair value of approximately €1.635 billion, resulting in a gain of approximately €500 million. See “New Investments” in this Note 3 for further details on this transaction On August 31, 2018, we sold a On June 4, 2018, we sold three long-term acute care hospitals located in California, Texas, and Oregon, that were leased and operated by Vibra, which included our equity investment in operations of the Texas facility. Total proceeds from the transaction were $53.3 million in cash, a mortgage loan in the amount of $18.3 million, and a $1.5 million working capital loan. The transaction resulted in a gain on real estate of $24.2 million, which was partially offset by a $5.1 million non-cash charge to revenue to write-off related straight-line rent receivables. On March 1, 2018, we sold the real estate of St. Joseph Medical Center in Houston, Texas, for approximately $148 million to Steward. In return, we received a mortgage loan equal to the purchase price, with such loan secured by the underlying real estate. This transaction resulted in a gain of $1.5 million, offset by a $1.7 million non-cash charge to revenue to write-off related straight-line rent receivables on this property. Summary of Operations for Disposed Assets in 2018 The following represents the operating results (excluding the St. Joseph sale in March 2018) of the properties sold in 2018 for the periods presented (in thousands): For the Year Ended 2018 Revenues $ 88,838 Real estate depreciation and amortization (15,849 ) Property-related expenses (531 ) Other(1) 709,717 Income from real estate dispositions, net $ 782,175 (1) Includes approximately $720 million of gains on sale for the twelve months ended December 31, 2018. Intangible Assets At December 31, 2020 and 2019, our intangible lease assets were $1.3 billion ($1.2 billion, net of accumulated amortization) and $622.1 million ($556.7 million, net of accumulated amortization), respectively. We recorded amortization expense related to intangible lease assets of $42.4 million, $21.5 million, and $17.6 million in 2020, 2019, and 2018, respectively, and expect to recognize amortization expense from existing lease intangible assets as follows (amounts in thousands): For the Year Ended December 31: 2021 $ 44,286 2022 44,272 2023 44,206 2024 44,173 2025 44,025 As of December 31, 2020, capitalized lease intangibles have a weighted-average remaining life of 21.3 years. Leasing Operations (Lessor) We acquire and develop healthcare facilities and lease the facilities to healthcare operating companies under long-term net leases (typical initial fixed terms of 15 years) and most include renewal options at the election of our tenants, generally in five year increments. Approximately 99% of our leases provide annual rent escalations based on increases in the CPI (or similar index outside the U.S.) and/or fixed minimum annual rent escalations ranging from 0.5% to 3.0%. Many of our domestic leases contain purchase options with pricing set at various terms but in no case less than our total investment. For five properties with a carrying value of $229 million, our leases require a residual value guarantee from the tenant. Our leases typically require the tenant to handle and bear most of the costs associated with our properties including repair/maintenance, property taxes, and insurance. We routinely inspect our properties to ensure the residual value of each of our assets is being maintained. Except for leases classified as financing leases as noted below, all of our leases are classified as operating leases. The following table summarizes total future minimum lease payments to be received, excluding operating expense reimbursements, from tenants under noncancelable leases as of December 31, 2020 (amounts in thousands): Total Under Operating Leases Total Under Financing Leases Total 2021 $ 858,067 $ 160,925 $ 1,018,992 2022 875,350 164,144 1,039,494 2023 890,761 167,427 1,058,188 2024 905,176 170,775 1,075,951 2025 919,984 174,191 1,094,175 Thereafter 22,102,425 4,593,755 26,696,180 $ 26,551,763 $ 5,431,217 $ 31,982,980 At December 31, 2020, leases on 13 Ernest facilities and five Prime facilities are accounted for as DFLs and leases on 13 of our Prospect facilities and five of our Ernest facilities are accounted for as a financing. The components of our total investment in financing leases consisted of the following (in thousands): As of December 31, 2020 As of December 31, 2019 Minimum lease payments receivable $ 1,228,966 $ 1,884,921 Estimated residual values 203,818 394,195 Less: Unearned income and allowance for credit loss (969,061 ) (1,618,252 ) Net investment in direct financing leases 463,723 660,864 Other financing leases (net of allowance for credit loss) 1,547,199 1,399,438 Total investment in financing leases $ 2,010,922 $ 2,060,302 Rent Deferrals Due to the COVID-19 pandemic and its impact on our tenants’ business during 2020, we agreed to defer collection on less than 2% of our annual rent. The amount of this deferral, net of subsequent collections, is approximately $11.4 million as of December 31, 2020. Pursuant to our agreements with the tenants, we expect such deferred rent to be paid over specified periods in the future, with interest. Adeptus Health As discussed in previous filings, our original real estate portfolio of approximately 60 properties leased to Adeptus Health, Inc. (“Adeptus”) has gone through significant changes starting with Adeptus filing for Chapter 11 bankruptcy in 2017. With this filing and other subsequent events (including COVID-19 implications in 2020), we have transitioned all of the facilities away from Adeptus. These transition measures have resulted in impairment charges including approximately $20 million (of which one-half Alecto Facilities As noted in previous filings, we originally leased four acute care facilities and had a mortgage loan on a fifth property (Olympia Medical Center) to Alecto Healthcare Services LLC (“Alecto”). During 2018 and 2019, we incurred approximately $30 million and $20 million in real estate impairment charges, respectively. During the second quarter of 2020, we re-leased one acute care facility to West Virginia University and sold another facility. We also donated the Wheeling facility to a local municipality, resulting in a $9.1 million real estate impairment charge in the first quarter of 2020. At December 31, 2020, we continue to lease one acute care facility to Alecto and have a mortgage loan on the second property, representing less than 0.5% of our total assets. Subsequent to year-end, Alecto completed the sale of Olympia Medical Center to the UCLA Health System. Our proceeds of approximately $43 million from this sale fully recovered our mortgage loan balance in addition to certain past due amounts. Other Leasing Activity On July 24, 2020, we re-leased our five San Antonio, Texas free standing emergency facilities (with a total investment of approximately $30 million) to Methodist Healthcare System of San Antonio, a joint venture between HCA Healthcare and Methodist Healthcare Ministries of South Texas, pursuant to a long-term master lease. As a result, we recorded an approximate $1.5 million write-off of straight-line rent in the 2020 third quarter. Loans The following is a summary of our loans (net of allowance for credit loss in 2020) ($ amounts in thousands): As of December 31, 2020 As of December 31, 2019 Balance Weighted-Average Interest Rate Balance Weighted-Average Interest Rate Mortgage loans $ 248,080 8.5 % $ 1,275,022 9.0 % Acquisition loans 338,273 7.6 % 123,893 7.7 % Other loans 520,095 5.8 % 420,939 5.7 % $ 1,106,448 $ 1,819,854 Our mortgage loans at December 31, 2020 cover six of our properties with four operators. The decrease from the prior year primarily relates to the conversion of Steward mortgage loans for the underlying fee simple real estate of two general acute care hospitals as more fully described under “New Investments” in this same Note 3, along with the repayment of approximately $328 million mortgage loans from Prime. The increase in acquisition loans primarily relates to the $205 million loan to the new international joint venture described under “New Investments” in this same Note 3 Other loans consist of loans to our tenants for working capital and other purposes and include our shareholder loan made to the joint venture with Primotop on August 31, 2018 (as more fully described above in this Note 3 ) in the amount of €290 million. Concentration of Credit Risks We monitor concentration risk in several ways due to the nature of our real estate assets that are vital to the communities in which they are located and given our history of being able to replace inefficient operators of our facilities, if needed, with more effective operators: 1) Facility concentration – We had no investment in any single property greater than 4% of our total assets at December 31, 2020 or December 31, 2019. 2) Operator concentration – For the year ended December 31, 2020, revenue from Steward, Circle, and Prospect represented 30%, 13%, and 12%, respectively, of our total revenues. In comparison, Steward represented 42% of our total revenues for the year ended December 31, 2019, while Circle and Prospect represented less than 10%. 3) Geographic concentration – At December 31, 2020, investments in the U.S, Europe, Australia, and South America represented approximately 65%, 28%, 6%, and 1%, respectively, of our total assets. In comparison, investments in the U.S., Europe, and Australia represented approximately 74%, 20%, and 6%, respectively, of our total assets at December 31, 2019. 4) Facility type concentration – For the year ended December 31, 2020, approximately 87% of our revenues are from our general acute care facilities, while rehabilitation and long-term acute care facilities made up 8% and 3%, respectively. Freestanding ER/urgent care facilities and behavioral health facilities combined to make up the additional 2%. In comparison, general acute care, rehabilitation, and long-term acute care facilities made up 82%, 10%, and 3%, respectively, of our total revenues for the year ended December 31, 2019, while freestanding ER/urgent care facilities and behavioral health facilities combined to make up the additional 5%. Related Party Transactions Lease and interest revenue earned from tenants and real estate joint ventures in which we had an equity interest (accounted for under either the equity or fair value option methods) during the year were $29.8 million, $85.3 million, and $102.2 million for 2020, 2019, and 2018, respectively. See subsections “New Investments” and “Disposals” in this Note 3 as it relates to our investments in the new international, Primotop, and Infracore ventures and the Ernest recapitalization for other related party transactions during 2020, 2019, and 2018. |
Debt
Debt | 12 Months Ended |
Dec. 31, 2020 | |
Debt Disclosure [Abstract] | |
Debt | 4. Debt The following is a summary of debt (dollar amounts in thousands): As of December 31, 2020 As of December 31, 2019 Revolving credit facility(A) $ 165,407 $ — Term loan 200,000 200,000 British pound sterling term loan(B) 956,900 — Australian term loan facility(B) 923,280 842,520 4.000% Senior Unsecured Notes due 2022(B) 610,800 560,650 2.550% Senior Unsecured Notes due 2023(B) 546,800 530,280 5.500% Senior Unsecured Notes due 2024 — 300,000 6.375% Senior Unsecured Notes due 2024 — 500,000 3.325% Senior Unsecured Notes due 2025(B) 610,800 560,650 5.250% Senior Unsecured Notes due 2026 500,000 500,000 5.000% Senior Unsecured Notes due 2027 1,400,000 1,400,000 3.692% Senior Unsecured Notes due 2028(B) 820,200 795,420 4.625% Senior Unsecured Notes due 2029 900,000 900,000 3.500% Senior Unsecured Notes due 2031 1,300,000 — $ 8,934,187 $ 7,089,520 Debt issue costs and discount, net (68,729 ) (65,841 ) $ 8,865,458 $ 7,023,679 (A) Includes £121 million of GBP-denominated borrowings that reflect the exchange rate at December 31, 2020. (B) Non-U.S. dollar denominated debt that reflects the exchange rate at period end. As of December 31, 2020, principal payments due on our debt (which exclude the effects of any discounts, premiums, or debt issue costs recorded) are as follows ($ amounts in thousands): 2021 $ 165,407 2022 810,800 2023 546,800 2024 923,280 2025 1,567,700 Thereafter 4,920,200 Total $ 8,934,187 Credit Facility Our current unsecured credit facility (“Credit Facility”) includes a $1.3 billion unsecured revolving loan facility and a $200 million unsecured term loan facility. At December 31, 2020, the maturity date of our unsecured revolving loan facility was in February 2021, while our term loan’s maturity date was February 1, 2022. The term loan and/or revolving loan commitments could be increased in an aggregate amount not to exceed $500 million. At our election, loans under the Credit Facility could be made as either ABR Loans or Eurodollar Loans. The applicable margin for term loans that are ABR Loans was adjustable on a sliding scale from 0.00% to 0.95% based on our current credit rating. The applicable margin for term loans that are Eurodollar Loans was adjustable on a sliding scale from 0.90% to 1.95% based on our current credit rating. The applicable margin for revolving loans that are ABR Loans was adjustable on a sliding scale from 0.00% to 0.65% based on our current credit rating. The applicable margin for revolving loans that are Eurodollar Loans was adjustable on a sliding scale from 0.875% to 1.65% based on our current credit rating. The commitment fee was adjustable on a sliding scale from 0.125% to 0.30% based on our current credit rating and was payable on the revolving loan facility. At December 31, 2020, we had $165.4 million outstanding on the revolving credit facility, whereas, we had no outstanding borrowings on our revolving credit facility at December 31, 2019. At December 31, 2020 and 2019, our availability under our revolving credit facility was $1.1 billion and $1.3 billion, respectively. The weighted-average interest rate on the revolving facility was 1.4% and 2.0% during 2020 and 2019, respectively. At December 31, 2020 and 2019, the interest rate in effect on our term loan was 1.65% and 3.30%, respectively. Our Credit Facility was amended in January 2021 – see Note 13 for details of this amendment. Non-U.S. Term Loans British Pound Sterling Term Loan On January 6, 2020, we entered into a £700 million unsecured sterling-denominated term loan with Bank of America, N.A., as administrative agent, and several lenders from time-to-time are parties thereto. The term loan matures on January 15, 2025. The applicable margin under the term loan is adjustable based on a pricing grid from 0.85% to 1.65% dependent on our current credit rating. On March 4, 2020, we entered into an interest rate swap transaction (effective March 6, 2020) to fix the interest rate to approximately 0.70% for the duration of the loan. The current applicable margin for the pricing grid (which can vary based on our credit rating) is 1.25% for an all-in fixed rate of 1.95%. Australian Term Loan On May 23, 2019, we entered into an A$1.2 billion term loan with Bank of America, N.A., as administrative agent, and several lenders from time-to-time are parties thereto. The term loan matures on May 23, 2024. The interest rate under the term loan is adjustable based on a pricing grid from 0.85% to 1.65%, dependent on our current senior unsecured credit rating. On June 27, 2019, we entered into an interest rate swap transaction (effective July 3, 2019) to fix the interest rate to approximately 1.20% for the duration of the loan as long as the reference rate stays above 0.00%. The current applicable margin for the pricing grid (which can vary based on our credit rating) is 1.25% for an all-in fixed rate of 2.45%. At December 31, 2020 and 2019, we had a derivative liability of approximately $51.3 million and $5.6 million, respectively, included in "Accounts payable and accrued expenses" in our consolidated balance sheets associated with these interest rate swaps. Senior Unsecured Notes The following are the basic terms of our senior unsecured notes. Typically, we may redeem some or all of the notes at any time, but may require a redemption premium that will decrease over time. In the event of a change of control, each holder of the notes may require us to repurchase some or all of our notes at a repurchase price equal to 101 % of the aggregate principal amount of the notes plus accrued and unpaid interest to the date of purchase. 4.000% Senior Unsecured Notes due 2022 On August 19, 2015, we completed a €500 million senior unsecured notes offering. Interest on the notes is payable annually on August 19 of each year. The notes pay interest in cash at a rate of 4.000% per year. The notes mature on August 19, 2022. 2.550% Senior Unsecured Notes due 2023 On December 5, 2019, we completed a £400 million senior unsecured notes offering. Interest on the notes is payable annually on December 5 of each year. The notes pay interest in cash at a rate of 2.550% per year. The notes mature on December 5, 2023. 5.500% Senior Unsecured Notes due 2024 On April 17, 2014, we completed a $300 million senior unsecured notes offering. Interest on the notes was payable semi-annually on May 1 and November 1 of each year. The notes paid interest in cash at a rate of 5.500% per year. The notes were to mature on May 1, 2024; however, we redeemed the notes on December 19, 2020. 6.375% Senior Unsecured Notes due 2024 On February 22, 2016, we completed a $500 million senior unsecured notes offering. Interest on the notes was payable on March 1 and September 1 of each year. Interest on the notes was paid in cash at a rate of 6.375% per year. The notes were to mature on March 1, 2024; however, we redeemed the notes on December 19, 2020. 3.325% Senior Unsecured Notes due 2025 On March 24, 2017, we completed a €500 million senior unsecured notes offering. Interest on the notes is payable annually on March 24 of each year. The notes pay interest in cash at a rate of 3.325% per year. The notes mature on March 24, 2025. 5.250% Senior Unsecured Notes due 2026 On July 22, 2016, we completed a $500 million senior unsecured notes offering. Interest on the notes is payable on February 1 and August 1 of each year. Interest on the notes is to be paid in cash at a rate of 5.250% per year. The notes mature on August 1, 2026. 5.000% Senior Unsecured Notes due 2027 On September 7, 2017, we completed a $1.4 billion senior unsecured notes offering. Interest on the notes is payable on April 15 and October 15 of each year. The notes pay interest in cash at a rate of 5.000% per year. The notes mature on October 15, 2027. 3.692% Senior Unsecured Notes due 2028 On December 5, 2019, we completed a £600 million senior unsecured notes offering. The notes were issued at 99.998% of par value. Interest on the notes is payable on June 5 of each year. The notes pay interest in cash at a rate of 3.692% per year. The notes mature on June 5, 2028. 4.625% Senior Unsecured Notes due 2029 On July 26, 2019, we completed a $900 million senior unsecured notes offering. Interest on the notes is payable on February 1 and August 1 of each year, commencing on February 1, 2020. The notes were issued at 99.5% of par value, pay interest at a rate of 4.625% per year and mature on August 1, 2029. 3.500% Senior Unsecured Notes due 2031 On December 4, 2020, we completed a $1.3 billion senior unsecured notes offering. Interest on the notes is payable semi-annually on March 15 and September 15 of each year. The notes pay interest in cash at a rate of 3.500% per year. The notes mature on March 15, 2031. Other Activity In preparation of the joint venture with Primotop described under “2018 Activity” in Note 3 , we issued secured debt on August 3, 2018, resulting in gross proceeds of €655 million. Provisions of the secured debt included a term of seven years and a swapped fixed rate of approximately 2.3%. Subsequently, on August 31, 2018, the secured debt was contributed along with the related real estate of 71 properties to form the joint venture. Debt Refinancing and Unutilized Financing Costs 2020 With proceeds from our $1.3 billion, 3.500% Senior Unsecured Notes due 2031 offering completed on December 4, 2020, we redeemed all of our outstanding $500.0 million aggregate principal amount of 6.375% Senior Unsecured Notes due 2024 and $300.0 million aggregate principal amount of 5.500% Senior Unsecured Notes due 2024, including accrued and unpaid interest. As a result of these redemptions, we incurred a charge of approximately $28 million (including redemption premiums and accelerated amortization of deferred debt issuance costs). 2019 On July 10, 2019, we received a commitment to provide a senior unsecured bridge loan facility to fund our investment in Prospect. With this commitment, we paid approximately $4 million of underwriting and other fees. However, this commitment was cancelled with the completion of the debt and equity offerings in July 2019 (as more fully described above and in Note 9 ), which resulted in fully expensing the total amount of underwriting and other fees that were paid . In anticipation of funding our Australian acquisition in June 2019 and the Circle transaction in January 2020, we entered into term loans on the date these deals were signed that had a delayed draw feature. This feature allowed for us to not draw on the term loans until needed to fund these transactions. However, with this type of structure, we incurred approximately $2.0 million in accelerated debt issue cost amortization expense during 2019. Covenants Our debt facilities impose certain restrictions on us, including restrictions on our ability to: incur debts; create or incur liens; provide guarantees in respect of obligations of any other entity; make redemptions and repurchases of our capital stock; prepay, redeem, or repurchase debt; engage in mergers or consolidations; enter into affiliated transactions; dispose of real estate or other assets; and change our business. In addition, the credit agreements governing our Credit Facility limit the amount of dividends we can pay as a percentage of normalized adjusted funds from operations (“NAFFO”), as defined in the agreements, on a rolling four quarter basis. Through 2020, the dividend restriction was 95% of NAFFO. The indentures governing our senior unsecured notes also limit the amount of dividends we can pay based on the sum of 95% of NAFFO, proceeds of equity issuances and certain other net cash proceeds. Finally, our senior unsecured notes require us to maintain total unencumbered assets (as defined in the related indenture) of not less than 150% of our unsecured indebtedness. In addition to these restrictions, the Credit Facility contains customary financial and operating covenants, including covenants relating to our total leverage ratio, fixed charge coverage ratio, secured leverage ratio, consolidated adjusted net worth, unsecured leverage ratio, and unsecured interest coverage ratio. The Credit Facility also contains customary events of default, including among others, nonpayment of principal or interest, material inaccuracy of representations, and failure to comply with our covenants. If an event of default occurs and is continuing under the Credit Facility, the entire outstanding balance may become immediately due and payable. At December 31, 2020, we were in compliance with all such financial and operating covenants. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 5. Income Taxes Medical Properties Trust, Inc. We have maintained and intend to maintain our election as a REIT under the Code. To qualify as a REIT, we must meet a number of organizational and operational requirements, including a requirement to distribute at least 90% of our taxable income to our stockholders. As a REIT, we generally will not be subject to U.S. federal income tax if we distribute 100% of our taxable income to our stockholders and satisfy certain other requirements; instead, income tax is paid directly by our stockholders on the dividends distributed to them. If our taxable income exceeds our dividends in a tax year, REIT tax rules allow us to designate dividends from the subsequent tax year in order to avoid current taxation on undistributed income. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income taxes at regular corporate rates, including any applicable alternative minimum tax. Taxable income from non-REIT activities managed through our TRS is subject to applicable U.S. federal, state, and local income taxes. Our international subsidiaries are also subject to income taxes in the jurisdictions in which they operate. From our TRS and our foreign operations, income tax benefit (expense) were as follows (in thousands): For the Years Ended December 31, 2020 2019 2018 Current income tax benefit (expense): Domestic $ 63 $ 61 $ 125 Foreign (10,203 ) (1,669 ) (3,294 ) (10,140 ) (1,608 ) (3,169 ) Deferred income tax benefit (expense): Domestic (10,680 ) 5,490 3,713 Foreign (10,236 ) (1,261 ) (1,471 ) (20,916 ) 4,229 2,242 Income tax benefit (expense) $ (31,056 ) $ 2,621 $ (927 ) A reconciliation of income tax benefit (expense) from the statutory income tax rate to the effective tax rate based on income before income taxes for the years ended December 31, 2020, 2019, and 2018 is as follows (in thousands): For the Years Ended December 31, 2020 2019 2018 Income before income tax $ 463,328 $ 373,780 $ 1,019,404 Income tax at the U.S. statutory federal rate (21% in 2020, 2019 and 2018) (97,299 ) (78,494 ) (214,075 ) Decrease (increase) in income tax resulting from: Foreign rate differential 2,160 438 2,643 State income taxes, net of federal benefit 970 1,621 (379 ) U.S. earnings not subject to federal income tax 82,921 85,495 208,472 Equity investments 380 1,091 46 Change in valuation allowance (8,514 ) (7,911 ) 2,668 Statutory tax rate change (9,471 ) — — Other items, net (2,203 ) 381 (302 ) Total income tax benefit (expense) $ (31,056 ) $ 2,621 $ (927 ) The foreign provision for income taxes is based on foreign profit before income taxes of $62.1 million, $10.7 million, and $18.6 million in 2020, 2019, and 2018, respectively. The domestic provision for income taxes is based on income before income taxes of $6.4 million in 2020 as compared with a loss before income taxes of $(44.1) million in 2019 from our TRS and income before income taxes of $8.0 million in 2018. At December 31, 2020 and 2019, components of our deferred tax assets and liabilities were as follows (in thousands): 2020 2019 Deferred tax assets: Operating loss and interest deduction carry forwards $ 150,001 $ 28,684 Interest rate swap 9,150 843 Other 6,973 868 Total deferred tax assets 166,124 30,395 Valuation allowance (36,977 ) (11,355 ) Total net deferred tax assets $ 129,147 $ 19,040 Deferred tax liabilities: Property and equipment $ (211,018 ) $ (7,324 ) Net unbilled revenue (14,776 ) (1,449 ) Other (4,010 ) (737 ) Total deferred tax liabilities (229,804 ) (9,510 ) Net deferred tax asset (liability) $ (100,657 ) $ 9,530 At December 31, 2020, we had net NOL and other tax attribute carryforwards as follows (in thousands): U.S. Foreign Gross NOL carryforwards $ 159,895 $ 528,567 Tax-effected NOL carryforwards $ 16,298 $ 133,703 Valuation allowance (6,193 ) (30,784 ) Net deferred tax asset - NOL carryforwards $ 10,105 $ 102,919 Expiration periods 2029-indefinite indefinite Valuation Allowance A valuation allowance has been recorded on certain foreign and domestic net operating loss carryforwards and other net deferred tax assets that may not be realized. As of each reporting date, we consider all new evidence that could impact the future realization of our deferred tax assets. In the evaluation of the need for a valuation allowance on our deferred income tax assets, we consider all available positive and negative evidence, including scheduled reversals of deferred income tax liabilities, carryback of future period losses to prior periods, projected future taxable income, tax planning strategies, and recent financial performance. During 2020, a valuation allowance of $25.6 million has been recorded against a portion of our international deferred tax assets to recognize only the components of the deferred tax assets that is more likely than not to be realized. The valuation allowance was primarily recorded against deferred tax assets for NOLs, non-depreciable basis of real property, and other tax attributes that we believe will not be realized. We have no material uncertain tax position liabilities and related interest or penalties. REIT Status We have met the annual REIT distribution requirements by payment of at least 90% of our taxable income in 2020, 2019, and 2018. Earnings and profits, which determine the taxability of such distributions, will differ from net income reported for financial reporting purposes due primarily to differences in cost basis, differences in the estimated useful lives used to compute depreciation, and differences between the allocation of our net income and loss for financial reporting purposes and for tax reporting purposes. A schedule of per share distributions we paid and reported to our stockholders is set forth in the following: For the Years Ended December 31, 2020 2019 2018 Common share distribution $ 1.070000 $ 1.010000 $ 0.990000 Ordinary income 0.603050 0.701910 0.438792 Capital gains(1) — 0.275040 0.551208 Unrecaptured Sec. 1250 gain — 0.041160 0.132280 Section 199A Dividends 0.603050 0.701910 0.438792 Return of capital 0.466950 0.033050 — (1)Capital gains include unrecaptured Sec. 1250 gains. MPT Operating Partnership, L.P. As a partnership, the allocated share of income of the Operating Partnership is included in the income tax returns of the general and limited partners. Accordingly, no accounting for income taxes is generally required for such income of the Operating Partnership. However, the Operating Partnership has formed a TRS on behalf of Medical Properties Trust, Inc., which is subject to U.S. federal, state, and local income taxes at regular corporate rates, and its international subsidiaries are subject to income taxes in the jurisdictions in which they operate. See discussion above under Medical Properties Trust, Inc. for more details of income taxes associated with our TRS and international operations. |
Earnings Per Share_Unit
Earnings Per Share/Unit | 12 Months Ended |
Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |
Earnings Per Share/Unit | 6. Earnings Per Share/Unit Medical Properties Trust, Inc. Our earnings per share were calculated based on the following (amounts in thousands): For the Years Ended December 31, 2020 2019 2018 Numerator: Net income $ 432,272 $ 376,401 $ 1,018,477 Non-controlling interests’ share in earnings (822 ) (1,717 ) (1,792 ) Participating securities’ share in earnings (2,105 ) (2,308 ) (3,685 ) Net income, less participating securities’ share in earnings $ 429,345 $ 372,376 $ 1,013,000 Denominator: Basic weighted-average common shares 529,239 427,075 365,364 Dilutive potential common shares 1,222 1,224 907 Diluted weighted-average common shares 530,461 428,299 366,271 MPT Operating Partnership, L.P. Our earnings per unit were calculated based on the following (amounts in thousands): For the Years Ended December 31, 2020 2019 2018 Numerator: Net income $ 432,272 $ 376,401 $ 1,018,477 Non-controlling interests’ share in earnings (822 ) (1,717 ) (1,792 ) Participating securities’ share in earnings (2,105 ) (2,308 ) (3,685 ) Net income, less participating securities’ share in earnings $ 429,345 $ 372,376 $ 1,013,000 Denominator: Basic weighted-average units 529,239 427,075 365,364 Dilutive potential units 1,222 1,224 907 Diluted weighted-average units 530,461 428,299 366,271 |
Stock Awards
Stock Awards | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Stock Awards | 7. Stock Awards Stock Awards Our Equity Incentive Plan, adopted during the second quarter of 2019 and replaced the previous plan, authorizes the issuance of common stock options, restricted stock, restricted stock units, deferred stock units, stock appreciation rights, performance units, and awards of interests in our Operating Partnership. Our Equity Incentive Plan is administered by the Compensation Committee of the Board of Directors. We have reserved 12.9 ten years For the past three years, we have only granted restricted stock and restricted stock units pursuant to our Equity Incentive Plan. These stock-based awards have been granted in the form of service-based awards and performance awards based on company-specific performance hurdles. See below for further details on each of these stock-based awards: Service-Based Awards In 2020, 2019, and 2018, the Compensation Committee granted service-based awards to employees and non-employee directors. Service-based awards vest as the employee/director provides the required service (typically over three years Performance-Based Awards In 2020, 2019, and 2018, the Compensation Committee granted performance-based awards to employees. Generally, dividends are not paid on performance awards until the award is earned. See below for details of such performance-based award grants: In 2020, 2019, and 2018, a target number of stock awards were granted to employees that could be earned based on the achievement of specific performance thresholds as set by our Compensation Committee. The performance thresholds were based on a three-year Certain performance awards granted were subject to a modifier which increases or decreases the actual shares earned in each performance period. The modifier for the 2020 awards was based on two components: 1) how our total shareholder return (“TSR”) compared to the SNL U.S. REIT Healthcare Index (“SNL Index”) and 2) how our TSR compared to a threshold set by the Compensation Committee. For 2019 and 2018 awards, the modifier was based on how our TSR compared to the SNL Index. The following summarizes stock-based award activity in 2020 and 2019 (which includes awards granted in 2020, 2019, 2018, and any applicable prior years), respectively: For the Year Ended December 31, 2020: Vesting Based on Service Vesting Based on Market/Performance Conditions Shares Weighted-Average Value at Award Date Shares Weighted-Average Value at Award Date Nonvested awards at beginning of the year 1,122,440 $ 17.11 5,481,155 $ 11.66 Awarded 635,855 $ 19.65 1,800,898 $ 19.42 Vested (699,215 ) $ 16.80 (2,193,906 ) $ 11.35 Forfeited (2,026 ) $ 18.40 (1,164 ) $ 18.22 Nonvested awards at end of year 1,057,054 $ 18.79 5,086,983 $ 14.41 For the Year Ended December 31, 2019: Vesting Based on Service Vesting Based on Market/Performance Conditions Shares Weighted-Average Value at Award Date Shares Weighted-Average Value at Award Date Nonvested awards at beginning of the year 923,848 $ 14.29 4,133,435 $ 9.21 Awarded 681,378 $ 19.24 2,438,292 $ 15.25 Vested (478,104 ) $ 14.73 (1,051,637 ) $ 10.43 Forfeited (4,682 ) $ 13.44 (38,935 ) $ 10.13 Nonvested awards at end of year 1,122,440 $ 17.11 5,481,155 $ 11.66 The value of stock-based awards is charged to compensation expense over the service periods. For the years ended December 31, 2020, 2019, and 2018, we recorded $47.2 million, $32.2 million, and $16.5 million, respectively, of non-cash compensation expense. The remaining unrecognized cost from stock-based awards at December 31, 2020, is $53.6 million, which will be recognized over a weighted-average period of 1.3 years. Stock-based awards that vested in 2020, 2019, and 2018, had a value of $58.9 million, $25.9 million, and $8.4 million, respectively. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 8. Commitments and Contingencies Commitments On December 30, 2020, we entered into definitive agreements to acquire a portfolio of between 35 and 40 behavioral health facilities located throughout the United Kingdom for an aggregate purchase price of approximately £800 million from the Priory Group. The transaction is structured to occur in two primary phases. On December 30, 2020, an affiliate of Waterland Private Equity Fund VII C.V. (“Waterland VII”) entered into definitive agreements to acquire all of the outstanding equity interests in the entity that owns the Priory Group from its current owner, Acadia Healthcare Company, Inc. In separate agreements entered into with Waterland VII on the same date, we agreed to provide a short-term interim acquisition loan to Waterland VII at the closing of Waterland VII’s acquisition of Priory Group. Upon closing of the first phase of the transaction on January 19, 2021, we funded an £800 million interim acquisition loan secured by mortgages on an identified portfolio of Priory Group real estate assets. In phase two, in a series of transactions we expect will be completed during the first half of 2021, we will acquire a portfolio of select real estate assets from Priory Group (now owned by Waterland VII) in individual sale-and-leaseback transactions, subject to customary real estate and other closing conditions. As all conditions to closing for a particular asset are satisfied, the applicable purchase price for the asset will be paid by us by proportionally converting and reducing the principal balance of the interim acquisition loan we made to Waterland VII in phase one. The aggregate purchase price for the real estate assets we acquire from the Priory Group is thus expected to be approximately £800 million, being the total amount of the interim acquisition loan, plus customary stamp duty, tax and other transaction costs. The properties we acquire will be subject to a master lease type structure with an initial term of 25 years and two 10-year extension options, with annual inflation-based escalators. Pending its conversion and offset, the initial interim acquisition loan will bear interest at a rate similar to the initial lease rate we will receive under the lease transactions. In addition to the £800 million initial interim acquisition loan described above, we also agreed to provide Waterland VII with a 364-day £250 million acquisition loan, which we funded on January 19, 2021, in connection with the closing of Waterland VII’s acquisition of the Priory Group. The loan is secured by the same security assets securing the £800 million interim acquisition loan. In connection with these transactions, we also acquired a 9.9% passive equity interest in the Waterland VII affiliate that indirectly owns the Priory Group for a nominal amount. To help fund this acquisition, we entered into a $900 million interim credit facility on January 15, 2021, of which we utilized £500 million along with £350 million from our revolving facility and the rest from cash on-hand. Contingencies We are a party to various legal proceedings incidental to our business. In the opinion of management, after consultation with legal counsel, the ultimate liability, if any, with respect to these proceedings is not presently expected to materially affect our financial position, results of operations, or cash flows. |
Common Stock_Partner's Capital
Common Stock/Partner's Capital | 12 Months Ended |
Dec. 31, 2020 | |
Equity [Abstract] | |
Common Stock/Partner's Capital | 9. Common Stock/Partner’s Capital Medical Properties Trust, Inc. 2020 Activity In 2020, we sold 21.0 million shares of common stock under our at-the-market equity offering program, resulting in net proceeds of approximately $411 million. 2019 Activity On November 4, 2019, we filed Articles of Amendment to our charter with the Maryland State Department of Assessments and Taxation increasing the number of authorized shares of common stock, par value $0.001 per share, available for issuance from 500 million to 750 million. On November 8, 2019, we completed an underwritten public offering of 57.5 million shares (including the exercise of the underwriters’ 30-day option to purchase an additional 7.5 million shares) of our common stock, resulting in net proceeds of $1.026 billion, after deducting underwriting discounts and commissions and offering expenses. On July 18, 2019, we completed an underwritten public offering of 51.75 million shares (including the exercise of the underwriters’ 30-day option to purchase an additional 6.75 million shares) of our common stock, resulting in net proceeds of $858.1 million, after deducting underwriting discounts and commissions and offering expenses. In 2019, we sold 36.1 million shares of common stock under our at-the-market equity offering program, resulting in net proceeds of approximately $650 million. On December 27, 2019, we entered into a new at-the-market equity offering program, which gives us the ability to sell up to $1.0 billion of stock with a commission rate up to 2.0%. 2018 Activity In the 2018 fourth quarter, we sold 5.6 million shares of common stock under our at-the-market equity offering program, resulting in net proceeds of approximately $95 million. MPT Operating Partnership, L.P. At December 31, 2020, the Operating Partnership is made up of a general partner, Medical Properties Trust, LLC (“General Partner”) and limited partners, including the Company (which owns 100% of the General Partner) and MPT TRS, Inc. (which is 100% owned by the General Partner). By virtue of its ownership of the General Partner, the Company has a 100% ownership interest in the Operating Partnership via its ownership of the common units and its indirect ownership of MPT TRS, Inc. In regards to distributions, the Operating Partnership shall distribute cash at such times and in such amounts as are determined by the General Partner in its sole and absolute discretion, to common unit holders who are common unit holders on the record date. However, per the Second Amended and Restated Agreement of Limited Partnership of MPT Operating Partnership, L.P. (“Operating Partnership Agreement”), the General Partner shall use its reasonable efforts to cause the Operating Partnership to distribute amounts sufficient to enable the Company to pay stockholder dividends that will allow the Company to (i) meet its distribution requirement for qualification as a REIT and (ii) avoid any U.S. federal income or excise tax liability imposed by the Code, other than to the extent the Company elects to retain and pay income tax on its net capital gain. In accordance with the Operating Partnership Agreement, LTIP units are treated as common units for distribution purposes. The Operating Partnership’s net income will generally be allocated first to the General Partner to the extent of any cumulative losses and then to the limited partners in accordance with their respective percentage interests in the common units issued by the Operating Partnership. Any losses of the Operating Partnership will generally be allocated first to the limited partners until their capital account is zero and then to the General Partner. In accordance with the Operating Partnership Agreement, LTIP units are treated as common units for purposes of income and loss allocations. Limited partners have the right to require the Operating Partnership to redeem part or all of their common units. It is at the Operating Partnership’s discretion to redeem such common units for cash based on the fair market value of an equivalent number of shares of the Company’s common stock at the time of redemption or, alternatively, redeem the common units for shares of the Company’s common stock on a one-for-one basis, subject to adjustment in the event of stock splits, stock dividends, or similar events. LTIP units must wait two years from the issuance of the LTIP units to be redeemed, and then converted to common units. On December 28, 2020, approximately 232 thousand LTIP units were converted to common units and then redeemed for approximately $4.9 million of cash. In 2018, approximately 60 thousand LTIP units were converted to common units and then redeemed for approximately $0.8 million of cash. For each share of common stock issued by Medical Properties Trust, Inc., the Operating Partnership issues a corresponding number of operating partnership units. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | 10. Fair Value of Financial Instruments We have various assets and liabilities that are considered financial instruments. We estimate that the carrying value of cash and cash equivalents and accounts payable and accrued expenses approximate their fair values. We estimate the fair value of our interest and rent receivables using Level 2 inputs such as discounting the estimated future cash flows using the current rates at which similar receivables would be made to others with similar credit ratings and for the same remaining maturities. The fair value of our mortgage loans and other loans are estimated by using Level 2 inputs such as discounting the estimated future cash flows using the current rates which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. We determine the fair value of our senior unsecured notes using Level 2 inputs such as quotes from securities dealers and market makers. We estimate the fair value of our revolving credit facility and term loans using Level 2 inputs based on the present value of future payments, discounted at a rate which we consider appropriate for such debt. Fair value estimates are made at a specific point in time, are subjective in nature, and involve uncertainties and matters of significant judgment. Settlement of such fair value amounts may not be a prudent management decision. The following table summarizes fair value estimates for our financial instruments (in thousands): December 31, 2020 December 31, 2019 Asset (Liability) Book Value Fair Value Book Value Fair Value Interest and rent receivables $ 46,208 $ 45,381 $ 31,357 $ 30,472 Loans(1) 751,341 756,608 1,704,854 1,742,153 Debt, net (8,865,458 ) (9,226,564 ) (7,023,679 ) (7,331,816 ) (1) Excludes the $205 million acquisition loan to the new international joint venture and investment in the real estate of three hospitals in Colombia discussed in Note 3 as they are recorded at fair value and discussed below Items Measured at Fair Value on a Recurring Basis Our equity investment and related loan to the new international joint venture and our loan investment in the real estate of three hospitals operated by subsidiaries of the international joint venture in Colombia are measured at fair value on a recurring basis as we elected to account for these investments using the fair value option at the point of initial investment during 2020. Our Ernest mortgage loans were measured at fair value on a recurring basis in prior periods as we elected to account for these investments using the fair value option method in 2012 when we acquired an equity interest in Ernest. Such equity interest was sold in October 2018, and the mortgage loans were converted to fee simple real estate on December 31, 2020 as discussed in Note 3 . We elected to account for each of these investments at fair value due to the size of the investments and because we believe this method was more reflected of current values. At December 31, 2020 and 2019, the amounts recorded under the fair value option method were as follows (in thousands): As of December 31, 2020 As of December 31, 2019 Asset (Liability) Fair Value Original Cost Fair Value Original Cost Asset Type Classification Mortgage loans $ 136,332 $ 136,332 $ 115,000 $ 115,000 Mortgage loans Equity investment and other loans 218,775 218,775 — — Equity investments/Other loans Our loans to the new international joint venture and its subsidiaries are recorded at fair value based on Level 2 inputs by discounting the estimated cash flows using the market rates which similar loans would be made to borrowers with similar credit ratings and the same remaining maturities. Our equity investment in the international joint venture is recorded at fair value based on Level 3 inputs, by using a discounted cash flow model, which requires significant estimates of our investee such as projected revenue and expenses and appropriate consideration of the underlying risk profile of the forecasted assumptions associated with the investee. We classify the equity investment as Level 3, as we use certain unobservable inputs to the valuation methodology that are significant to the fair value measurement, and the valuation requires management judgment due to absence of quoted market prices. For this cash flow model, our observable inputs include use of a capitalization rate and discount rate (which is based on a weighted-average cost of capital) and our unobservable input includes an adjustment for a marketability discount (“DLOM”). In regards to the underlying projections used in the discounted cash flow model, such projections are provided by the investee. However, we will modify such projections as needed based on our review and analysis of historical results, meetings with key members of management, and our understanding of trends and developments within the healthcare industry. Given our equity investment is in an entity that was a start-up company in 2020, we have not recognized any unrealized gain/loss on such investment in 2020. Items Measured at Fair Value on a Nonrecurring Basis In addition to items that are measured at fair value on a recurring basis, we have assets and liabilities that are measured at fair value on a nonrecurring basis, such as long-lived asset impairments (see Note 3 ). Fair value is based on estimated cash flows discounted at a risk-adjusted rate of interest by using either Level 2 or 3 inputs as more fully described in Note 2 . |
Leases (Lessee)
Leases (Lessee) | 12 Months Ended |
Dec. 31, 2020 | |
Leases [Abstract] | |
Leases (Lessee) | 11. Leases (Lessee) We lease the land underlying certain of our facilities (for which we sublease to our tenants), along with corporate office and equipment. Our leases have remaining lease terms that vary in years, and some of the leases have initial fixed terms (or renewal options available) that extend the leases up to, or just beyond, the depreciable life of the properties that occupy the leased land. Renewal options that we are reasonably certain to exercise are recognized in our right-of-use assets and lease liabilities. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at lease commencement date in determining the present value of future payments. The following is a summary of our lease expense (in thousands): Income Statement For the Years Ended December 31, Classification 2020 2019 Operating lease cost (1) (2) $ 9,910 $ 9,262 Finance lease cost: Amortization of right-of-use assets Real estate depreciation and amortization 51 51 Interest on lease liabilities Interest 128 117 Sublease income Other (2,614 ) (3,478 ) Total lease cost $ 7,475 $ 5,952 (1) Includes short-term leases. (2) $6.0 million and $5.8 million included in “Property-related”, with the remainder reflected in the “General and administrative” line of our consolidated statements of net income for 2020 and 2019, respectively. For 2018, our total lease expense was $9.4 million, which was offset by sublease rental income of $4.3 million. Fixed minimum payments due over the remaining lease term under non-cancelable leases of more than one year and amounts to be received in the future from non-cancelable subleases over their remaining lease term at December 31, 2020 are as follows (amounts in thousands): Operating Leases Finance Leases Amounts To Be Received From Subleases Net Payments 2021 $ 7,186 $ 126 $ (2,952 ) $ 4,360 2022 7,384 128 (3,238 ) 4,274 2023 7,451 129 (3,240 ) 4,340 2024 6,557 130 (3,259 ) 3,428 2025 5,660 131 (3,303 ) 2,488 Thereafter 257,730 4,783 (78,494 ) 184,019 (1) Total undiscounted minimum lease payments $ 291,968 $ 5,427 $ (94,486 ) $ 202,909 Less: interest (201,962 ) (3,492 ) Present value of lease liabilities $ 90,006 $ 1,935 (1) Reflects certain ground leases, in which we are the lessee, that have longer initial fixed terms than our existing sublease to our tenants. However, we would expect to either renew the related sublease, enter into a lease with a new tenant, or early terminate the ground lease to reduce or avoid any significant impact from such ground leases. Supplemental balance sheet information is as follows (in thousands, except lease terms and discount rate): Balance Sheet Classification December 31, 2020 December 31, 2019 Right of use assets: Operating leases - real estate Land $ 73,373 $ 59,492 Finance leases - real estate Land 1,836 1,888 Total real estate right of use assets $ 75,209 $ 61,380 Operating leases - corporate Other assets 8,234 9,866 Total right of use assets $ 83,443 $ 71,246 Lease liabilities: Operating leases Obligations to tenants and other lease liabilities $ 90,006 $ 76,353 Financing leases Obligations to tenants and other lease liabilities 1,935 1,932 Total lease liabilities $ 91,941 $ 78,285 Weighted-average remaining lease term: Operating leases 41.1 31.9 Finance leases 35.9 36.9 Weighted-average discount rate: Operating leases 6.4 % 6.3 % Finance leases 6.6 % 6.6 % The following is supplemental cash flow information (in thousands): For the Years Ended December 31, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 6,080 $ 5,937 Operating cash flows from finance leases 125 114 Financing cash flows from finance leases — 10 Non-cash activities - Right-of-use assets obtained in exchange for lease obligations: Operating leases 13,832 1,818 Finance leases — — |
Other Assets
Other Assets | 12 Months Ended |
Dec. 31, 2020 | |
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | |
Other Assets | 12. Other Assets The following is a summary of our other assets on our consolidated balance sheets (in thousands): At December 31, 2020 2019 Debt issue costs, net(1) $ 192 $ 2,492 Other corporate assets 167,929 206,765 Prepaids and other assets 87,948 90,342 Total other assets $ 256,069 $ 299,599 (1) Other corporate assets include leasehold improvements associated with our corporate offices, furniture and fixtures, equipment, software, deposits, right-of-use assets associated with corporate leases, etc. Included in prepaids and other assets is prepaid insurance, prepaid taxes, deferred income tax assets (net of valuation allowances, if any), and lease inducements made to tenants, among other items. In addition to the assets above, we have equity investments of $1.1 billion and $927 million at December 31, 2020 and 2019, respectively. The increase year-over-year is related to our additional investment in Infracore as discussed further in Note 3 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events | 13. Subsequent Events Equity Offering On January 11, 2021, we completed an underwritten public offering of 36.8 million shares (including the exercise of the underwriters’ 30-day option to purchase an additional 4.8 million shares) of our common stock, resulting in net proceeds of approximately $711.0 million, after deducting underwriting discounts and commissions and offering expenses. Credit Facility Amendment On January 15, 2021, we amended our Credit Facility. The amendment extended the maturity of our revolving facility to February 2024 and can be extended for an additional 12 months at our option. The maturity date of our $200 million unsecured term loan facility was extended to February 1, 2026. In addition to extending the maturity date, the amendment improved interest rate pricing for both facilities. Under the amended Credit Facility and at our election, loans may be made as either ABR Loans or Eurocurrency Loans. The applicable margin for term loans that are ABR Loans is adjustable on a sliding scale from 0.00% to 0.85% based on our current credit rating. The applicable margin for term loans that are Eurocurrency Loans is adjustable on a sliding scale from 0.85% to 1.85% based on our current credit rating. The applicable margin for revolving loans that are ABR Loans is adjustable on a sliding scale from 0.00% to 0.55% based on our current credit rating. The applicable margin for revolving loans that are Eurocurrency Loans is adjustable on a sliding scale from 0.825% to 1.55% based on our current credit rating. The amended Credit Facility retained the facility fee that is adjustable on a sliding scale from 0.125% to 0.30% based on our current credit rating and is payable on the revolving loan facility. |
Schedule II_ Valuation and Qual
Schedule II: Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2020 | |
Valuation And Qualifying Accounts [Abstract] | |
Schedule II: Valuation and Qualifying Accounts | Schedule II: Valuation and Qualifying Accounts Medical Properties Trust, Inc. and MPT Operating Partnership, L.P. December 31, 2020 Additions Deductions Year Ended December 31, Balance at Beginning of Year(1) Charged Against Operations(1) Charged to Other Accounts Net Recoveries/ Write-offs(1) Balance at End of Year(1) (In thousands) 2020 $ 109,803 $ 58,044 (2) $ 22,944 (3) $ (44,154 ) (4) $ 146,637 2019 $ 66,131 $ 50,893 (5) $ — $ (7,221 ) (6) $ 109,803 2018 $ 16,397 $ 57,285 (7) $ — $ (7,551 ) (8) $ 66,131 (1) Includes real estate impairment reserves, allowance for doubtful accounts, straight-line rent reserves, credit loss reserves, tax valuation allowances, and other reserves. (2) Represents a $19.0 million increase to real estate impairment reserves, $23.9 million increase in accounts receivable and other reserves, $3.3 million increase in credit loss reserves on financing-type receivables, and a $11.9 million increase in valuation allowances to reserve against our net deferred tax assets in 2020. (3) Reflects $8.4 million of a credit loss reserve recorded on January 1, 2020 to equity as the cumulative effect of a change in accounting principle adjustment upon adoption of ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments” along with $14.5 million of tax valuation allowances recorded as part of the purchase price allocation of the Circle Transaction as disclosed in Note 3 to Item 8 of this Annual Report on Form 10-K. (4) Includes a $40.5 million decrease in real estate impairment reserves related to disposals in 2020, $2.9 million of credit loss recovery related to loan paydowns in 2020, and a $0.8 million decrease in tax valuation allowances. (5) Represents a $21.0 million increase to real estate impairment reserves, $22.0 million increase in accounts receivable and other reserves, and a $7.9 million increase in our tax valuation allowance to reserve against an increase in our net deferred tax assets in 2019. (6) Includes a $7.2 million decrease in real estate impairment reserves related to disposals in 2019. (7) Represents a $48 million increase to real estate impairment reserves and a $9.3 million increase in accounts receivable reserves during 2018. (8) Includes a $7.7 million decrease in valuation allowances (which includes $4.4 million release of domestic valuation allowances in the 2018 fourth quarter) that was originally recorded to reserve against our net deferred tax assets. |
SCHEDULE III - REAL ESTATE INVE
SCHEDULE III - REAL ESTATE INVESTMENTS AND ACCUMULATED DEPRECIATION | 12 Months Ended |
Dec. 31, 2020 | |
Real Estate And Accumulated Depreciation Disclosure [Abstract] | |
SCHEDULE III - REAL ESTATE INVESTMENTS AND ACCUMULATED DEPRECIATION | SCHEDULE III — REAL ESTATE INVESTMENTS AND ACCUMULATED DEPRECIATION December 31, 2020 Initial Costs Additions Subsequent to Acquisition Cost at December 31, 2020(1) Accumulated Life on which depreciation in latest income statements is Location Type of Property Land Buildings Improve- ments Carrying Costs Land Buildings Total Depreciation Encum- brances Date of Construction Date Acquired computed (Years) (Dollar amounts in thousands) Ashtead, UK Acute care general hospital $ 39,518 $ 76,020 $ 1,029 $ — $ 40,547 $ 76,020 $ 116,567 $ 2,648 $ — 1981 August 16, 2019 40 Bassenheim, Germany Rehabilitation hospital 1,081 5,853 183 — 1,264 5,853 7,117 311 — 1887, 1983 February 9, 2019 39 Bath, UK Acute care general hospital 1,620 33,584 — — 1,620 33,584 35,204 5,457 — 2008, 2009 July 1, 2014 40 Bath, UK Acute care general hospital 7,519 14,016 205 — 7,724 14,016 21,740 364 — 1992 January 9, 2020 40 Birmingham, UK Acute care general hospital 9,397 48,175 — — 9,397 48,175 57,572 599 — 2017 April 3, 2017 40 Birmingham, UK Acute care general hospital 10,317 100,791 390 — 10,707 100,791 111,498 2,545 — 1982 January 9, 2020 40 Birmingham, UK Rehabilitation hospital — 20,011 — — — 20,011 20,011 249 — 2018 June 29, 2020 40 Braunfels, Germany Acute care general hospital 2,345 14,992 62 — 2,407 14,992 17,399 2,084 — 1977 June 30, 2015 40 Heidelberg, Germany Rehabilitation hospital 6,823 39,424 79 — 6,902 39,424 46,326 4,459 — 1885, 1991 June 22, 2016 40 Cologne, Germany Acute care general hospital 4,788 16,560 111 — 4,899 16,560 21,459 1,475 — 2011 June 23, 2017 40 Bad Salzuflen, Germany Rehabilitation hospital 10,624 29,415 999 — 11,623 29,415 41,038 2,473 — 1974, 2016 November 30, 2017 40 Bad Salzuflen, Germany Rehabilitation hospital 7,523 25,869 376 — 7,899 25,869 33,768 2,072 — 1989, 2016 November 30, 2017 40 Bad Oeynhausen, Germany Rehabilitation hospital 1,110 3,045 135 — 1,245 3,045 4,290 263 — 1973, 2010 November 30, 2017 40 Dormagen, Germany Rehabilitation hospital 1,963 6,251 150 — 2,113 6,251 8,364 388 — 1993, 2006 August 28, 2018 40 Grefath, Germany Rehabilitation hospital 1,220 3,351 108 — 1,328 3,351 4,679 212 — 1886, 1983 August 28, 2018 40 Remscheid, Germany Rehabilitation hospital 1,097 2,797 64 — 1,161 2,797 3,958 173 — 1951, 1983 August 28, 2018 40 Houston, TX Acute care general hospital 3,501 34,530 8,477 16,589 3,274 59,823 63,097 16,224 — 1960 August 10, 2007 40 San Diego, CA Acute care general hospital 12,663 52,431 — — 12,663 52,431 65,094 12,999 — 1973 February 9, 2011 40 Alvin, TX Freestanding ER 105 4,087 — — 105 4,087 4,192 666 — 2014 March 19, 2014 40 Houston, TX Freestanding ER 950 3,996 — — 950 3,996 4,946 425 — 2016 September 26, 2016 40 Aurora, CO Freestanding ER 2,939 4,812 — — 2,939 4,812 7,751 632 — 2015 September 17, 2015 40 Ft. Worth, TX Freestanding ER 2,741 4,392 — — 2,741 4,392 7,133 631 — 2015 March 27, 2015 40 Aberdeen, UK Acute care general hospital 4,429 108,150 137 — 4,566 108,150 112,716 2,712 — 1985 January 9, 2020 40 Ayer, MA Acute care general hospital 9,048 77,913 2,300 — 9,048 80,213 89,261 4,637 — 1970-2013 June 27, 2018 47 Basingstoke, UK Acute care general hospital 13,670 53,891 205 — 13,875 53,891 67,766 1,361 — 1984 January 9, 2020 40 Beckenham, UK Acute care general hospital 5,810 22,493 55 — 5,864 22,494 28,358 566 — 1981 January 9, 2020 40 Bedford, UK Acute care general hospital 1,599 8,057 55 — 1,654 8,057 9,711 205 — 1982 January 9, 2020 40 Bellflower, CA Behavioral health facility 2,563 — — — 2,563 — 2,563 — — 1972 August 23, 2019 — Bennettsville, SC Acute care general hospital 794 15,773 — — 794 15,773 16,567 5,379 — 1984 April 1, 2008 42 Big Spring, TX Acute care general hospital 1,655 21,254 — — 1,655 21,254 22,909 1,058 — 1973 April 12, 2019 41 Blackburn, UK Acute care general hospital 2,734 54,763 123 — 2,857 54,763 57,620 1,377 — 1957 January 9, 2020 40 Blue Springs, MO Acute care general hospital 4,347 23,494 — — 4,347 23,494 27,841 3,651 — 1980 February 13, 2015 40 Boardman, OH Long term acute care hospital 79 275 — — 79 275 354 10 — 2008 August 30, 2019 40 Boise, ID Long term acute care hospital 1,558 11,027 — — 1,558 11,027 12,585 634 — 2008 February 29, 2012 50 Initial Costs Additions Subsequent to Acquisition Cost at December 31, 2020(1) Accumulated Life on which depreciation in latest income statements is Location Type of Property Land Buildings Improve- ments Carrying Costs Land Buildings Total Depreciation Encum- brances Date of Construction Date Acquired computed (Years) (Dollar amounts in thousands) Bolton, UK Acute care general hospital 1,640 47,818 62 — 1,702 47,818 49,520 1,199 — 1989 January 9, 2020 40 Boonton Township, NJ Behavioral health facility 6,712 17,031 — — 6,712 17,031 23,743 79 — 1952, 1971-1978 September 30, 2015 40 Bossier City, LA Long term acute care hospital 900 17,818 944 — 900 18,762 19,662 5,736 — 1982 April 1, 2008 40 Bowling Green, KY Rehabilitation hospital 3,486 56,296 — — 3,486 56,296 59,782 2,092 — 1992 August 30, 2019 40 Brighton, MA Acute care general hospital 18,540 146,491 39,279 — 18,540 185,770 204,310 16,411 — 1917-2009 October 3, 2016 41 Brockton, MA Acute care general hospital 18,328 67,248 4,937 — 18,328 72,185 90,513 9,289 — 1965-2010 October 3, 2016 41 Broomfield, CO Freestanding ER 825 3,895 — — 825 3,895 4,720 633 — 2014 July 3, 2014 40 Bundoora, Australia Acute care general hospital 7,049 67,900 302 — 7,351 67,900 75,251 2,959 — 1979 June 7, 2019 37 Casper, WY Rehabilitation hospital 1,836 — — — 1,836 — 1,836 — — 2012 February 29, 2012 — Glendale, AZ Freestanding ER 1,144 6,087 — — 1,144 6,087 7,231 634 — 2016 October 21, 2016 40 New Orleans, LA Freestanding ER 2,850 6,125 — — 2,850 6,125 8,975 651 — 2016 September 23, 2016 40 Campbelltown, Australia Acute care general hospital 1,117 58,005 54 — 1,171 58,005 59,176 2,302 — 2007 June 7, 2019 40 Canterbury, UK Acute care general hospital 9,774 29,624 89 — 9,863 29,624 39,487 746 — 1982 January 9, 2020 40 Carmarthen, UK Acute care general hospital 875 27,462 102 — 977 27,462 28,439 693 — 1990 January 9, 2020 40 Carrollton, TX Acute care general hospital 729 34,342 374 — 729 34,716 35,445 4,689 — 2015 July 17, 2015 40 Caterham, UK Acute care general hospital 10,927 22,384 403 — 11,330 22,384 33,714 791 — 1982 August 16, 2019 40 Cedar Hill. TX Freestanding ER 1,122 3,644 — — 1,122 3,644 4,766 592 — 2014 June 23, 2014 40 Spring, TX Freestanding ER 1,310 3,639 — — 1,310 3,639 4,949 591 — 2014 July 15, 2014 40 Chandler, AZ Freestanding ER 3,674 4,783 — — 3,674 4,783 8,457 678 — 2015 April 24, 2015 40 Chandler, AZ Freestanding ER 750 3,853 — — 750 3,853 4,603 506 — 2015 October 7, 2015 40 Cheadle, UK Acute care general hospital 32,808 174,982 410 — 33,218 174,982 208,200 4,401 — 1981 January 9, 2020 40 Cheraw, SC Acute care general hospital 657 19,576 — — 657 19,576 20,233 6,675 — 1982 April 1, 2008 42 Crown Point, IN Long term acute care hospital 302 528 — — 302 528 830 22 — 2008 August 30, 2019 40 Katy, TX Freestanding ER 2,211 3,873 — — 2,211 3,873 6,084 500 — 2015 October 21, 2015 40 Webster, TX Long term acute care hospital 663 33,751 — — 663 33,751 34,414 8,438 — 2004 December 21, 2010 40 Clarksville, TX Rehabilitation hospital 2,460 25,530 — — 2,460 25,530 27,990 — — 2019 December 17, 2020 39 Commerce City, TX Freestanding ER 707 4,248 — — 707 4,248 4,955 646 — 2014 December 11, 2014 40 Conroe, TX Freestanding ER 1,338 1,699 — — 1,338 1,699 3,037 482 — 2015 July 29, 2015 40 Converse, TX Freestanding ER 750 4,423 — — 750 4,423 5,173 636 — 2015 April 10, 2015 40 Croydon, UK Acute care general hospital 10,458 44,782 218 — 10,676 44,782 55,458 1,134 — 1982 January 9, 2020 40 The Woodlands, TX Freestanding ER 2,019 4,524 — — 2,019 4,524 6,543 537 — 2016 March 28, 2016 40 Houston, TX Freestanding ER 1,903 1,276 — — 1,903 1,276 3,179 408 — 2017 May 8, 2017 35 Dahlen, Germany Rehabilitation hospital 1,017 12,526 466 — 1,483 12,526 14,009 143 — 1994 July 8, 2020 40 Dallas, TX Long term acute care hospital 1,000 13,589 — 368 1,421 13,536 14,957 4,850 — 2006 September 5, 2006 40 Darlington, UK Acute care general hospital 1,873 38,465 369 — 2,242 38,465 40,707 411 — 2001 August 7, 2020 40 Denver, CO Freestanding ER 1,295 4,276 — — 1,295 4,276 5,571 597 — 2015 June 8, 2015 40 Denville, NJ Acute care general hospital 15,709 55,772 — — 15,709 55,772 71,481 254 — 1953, 1969-2008 September 30, 2015 40 DeSoto, TX Freestanding ER 750 4,234 — — 750 4,234 4,984 485 — 2016 May 23, 2016 40 Detroit, MI Long term acute care hospital 1,220 8,687 — (364 ) 1,220 8,323 9,543 2,686 — 1956 May 22, 2008 40 San Antonio, TX Freestanding ER 3,216 4,801 — — 3,216 4,801 8,017 490 — 2016 December 9, 2016 40 Dodge City, KS Acute care general hospital 1,124 52,705 — — 1,124 52,705 53,829 1,422 — 1976 December 17, 2019 40 Dorchester, MA Acute care general hospital 14,428 219,575 6,638 — 14,428 226,213 240,641 12,424 — 1953-2015 October 15, 2018 42 Dorchester, UK Acute care general hospital 533 33,653 62 — 595 33,653 34,248 845 — 1981 January 9, 2020 40 Initial Costs Additions Subsequent to Acquisition Cost at December 31, 2020(1) Accumulated Life on which depreciation in latest income statements is Location Type of Property Land Buildings Improve- ments Carrying Costs Land Buildings Total Depreciation Encum- brances Date of Construction Date Acquired computed (Years) (Dollar amounts in thousands) Dover, NJ Acute care general hospital 3,865 8,693 — — 3,865 8,693 12,558 42 — 1925, 1927-2008 September 30, 2015 40 Droitwich, UK Acute care general hospital — 16,427 82 — 82 16,427 16,509 416 — 1984 January 9, 2020 40 El Paso, TX Rehabilitation hospital 4,268 21,328 — — 4,268 21,328 25,596 — — 2018 December 17, 2020 38 Euxton, UK Acute care general hospital 4,088 38,183 870 — 4,958 38,183 43,141 1,369 — 1981 August 16, 2019 40 Houston, TX Freestanding ER 1,345 3,678 — — 1,345 3,678 5,023 598 — 2014 June 20, 2014 40 Fairmont, CA Acute care general hospital 1,000 6,072 5,278 — 1,277 11,073 12,350 2,331 — 1939, 1972, 1985 September 19, 2014 40 Fall River, MA Acute care general hospital 3,526 82,358 24,463 — 3,526 106,821 110,347 10,619 — 1950-2012 October 3, 2016 41 Firestone, TX Freestanding ER 495 3,963 — — 495 3,963 4,458 652 — 2014 June 6, 2014 40 Flagstaff, AZ Rehabilitation hospital 3,049 22,464 — — 3,049 22,464 25,513 1,591 — 2016 August 23, 2016 40 Florence, AZ Acute care general hospital 900 28,462 105 — 900 28,567 29,467 6,246 — 2012 February 7, 2012 40 Folsom, CA Long term acute care hospital 3,291 21,293 — — 3,291 21,293 24,584 843 — 2009 August 30, 2019 40 Fort Lauderdale, FL Rehabilitation hospital 3,499 21,939 — 1 3,499 21,940 25,439 6,962 — 1985 April 22, 2008 40 Fountain, CO Freestanding ER 1,508 4,131 — — 1,508 4,131 5,639 663 — 2014 July 31, 2014 40 Fresno, CA Rehabilitation hospital 5,507 70,473 — — 5,507 70,473 75,980 2,532 — 1991 August 30, 2019 40 Frisco, TX Freestanding ER 1,500 2,431 27 (89 ) 1,411 2,458 3,869 631 — 2014 June 13, 2014 40 Garden Grove, CA Acute care general hospital 5,502 10,748 — 51 5,502 10,799 16,301 3,277 — 1982 November 25, 2008 40 Garland, TX Freestanding ER 3,441 4,648 — — 3,441 4,648 8,089 484 — 2016 November 15, 2016 40 Garden Grove, CA Medical Office Building 862 7,888 — 28 862 7,916 8,778 2,396 — 1982 November 25, 2008 40 Gilbert, AZ Acute care general hospital 150 10,449 — — 150 10,449 10,599 3,838 — 2005 January 4, 2011 40 Gilbert, AZ Freestanding ER 1,517 4,661 — — 1,517 4,661 6,178 631 — 2015 July 22, 2015 40 Glasgow, UK Acute care general hospital 6,767 141,275 150 — 6,917 141,275 148,192 3,542 — 1983 January 9, 2020 40 Glen Waverly, Australia Rehabilitation hospital 32,590 25,179 885 — 33,475 25,179 58,654 1,421 — 1972 June 7, 2019 32 Glendale, AZ Freestanding ER 1,229 4,046 — — 1,229 4,046 5,275 565 — 2015 June 5, 2015 40 Gloucester, UK Acute care general hospital 4,919 65,900 1,073 — 5,992 65,900 71,892 2,327 — 1990 August 16, 2019 40 Goodyear, AZ Freestanding ER 1,800 4,713 — — 1,800 4,713 6,513 560 — 2016 April 4, 2016 40 Great Missenden, UK Acute care general hospital 12,303 112,924 335 — 12,638 112,924 125,562 2,845 — 1981 January 9, 2020 40 Guildford, UK Acute care general hospital 7,259 39,114 130 — 7,389 39,114 46,503 986 — 1989 January 9, 2020 40 Halsall, UK Acute care general hospital 1,539 33,458 624 — 2,163 33,458 35,621 1,185 — 1986 August 16, 2019 40 Harrow, UK Acute care general hospital 41,010 43,396 226 — 41,236 43,396 84,632 1,100 — 1980 January 9, 2020 40 Hartsville, SC Acute care general hospital 2,050 43,970 — — 2,050 43,970 46,020 6,698 — 1999 August 31, 2015 34 Hastings, PA Acute care general hospital 603 8,834 — — 603 8,834 9,437 363 — 1924 December 17, 2019 30 Hausman, TX Acute care general hospital 1,500 8,957 — — 1,500 8,957 10,457 1,734 — 2013 March 1, 2013 40 Haverhill, MA Acute care general hospital 5,651 105,848 3,384 — 5,651 109,232 114,883 6,674 — 1982-2005 August 31, 2018 40 Helotes, TX Freestanding ER 1,900 5,115 — — 1,900 5,115 7,015 618 — 2016 March 10, 2016 40 Highland Village, TX Freestanding ER 3,314 1,551 — — 3,314 1,551 4,865 377 — 2015 September 22, 2015 40 Hill County, TX Acute care general hospital 1,120 17,882 — — 1,120 17,882 19,002 12,288 — 1980 September 17, 2010 15 Warren, OH Rehabilitation hospital 2,417 15,857 1,384 — 2,417 17,241 19,658 2,006 — 1922-2000 May 1, 2017 46 Hoover, AL Freestanding ER — 7,581 — — — 7,581 7,581 1,254 — 2015 May 1, 2015 34 Hoover, AL Medical Office Building — 1,034 296 — — 1,330 1,330 188 — 2015 May 1, 2015 34 Hope, AR Acute care general hospital 1,651 3,359 2,274 — 1,651 5,633 7,284 655 — 1984-2001 September 29, 2017 41 Hot Springs, AR Acute care general hospital 5,844 59,432 21,221 — 5,844 80,653 86,497 11,013 — 1985 August 31, 2015 40 Houston, TX Acute care general hospital 28,687 104,028 17,462 — 28,687 121,490 150,177 6,714 — 1940-1950 September 29, 2017 41 Initial Costs Additions Subsequent to Acquisition Cost at December 31, 2020(1) Accumulated Life on which depreciation in latest income statements is Location Type of Property Land Buildings Improve- ments Carrying Costs Land Buildings Total Depreciation Encum- brances Date of Construction Date Acquired computed (Years) (Dollar amounts in thousands) Houston, TX Behavioral health facility 6,063 19,874 — — 6,063 19,874 25,937 — — 2020 October 25, 2019 40 Highlands Ranch, CO Freestanding ER 4,200 4,779 — — 4,200 4,779 8,979 528 — 2016 July 25, 2016 40 Idaho Falls, ID Acute care general hospital 1,822 37,467 11,236 4,665 1,822 53,368 55,190 13,527 — 2002 April 1, 2008 40 Idaho Falls, ID Acute care general hospital 380 108,903 — — 380 108,903 109,283 2,486 — 2020 December 19, 2017 40 Johnstown, PA Acute care general hospital 8,877 247,042 — 116 8,877 247,158 256,035 8,359 — 1924 December 17, 2019 30 Kansas City, KS Acute care general hospital 2,351 13,665 — — 2,351 13,665 16,016 468 — 2017 June 10, 2019 50 Kansas City, MO Acute care general hospital 10,497 64,419 — — 10,497 64,419 74,916 9,713 — 1978 February 13, 2015 40 Katy, TX Freestanding ER 1,604 4,174 — — 1,604 4,174 5,778 443 — 2016 October 10, 2016 40 Kingswood, Australia Acute care general hospital 25,723 85,264 496 — 26,219 85,264 111,483 3,435 — 2000 June 7, 2019 40 Camden, SC Acute care general hospital — 22,739 — — — 22,739 22,739 2,721 — 1954-2004 October 30, 2015 39 Lafayette, IN Rehabilitation hospital 800 14,968 (25 ) — 800 14,943 15,743 2,946 — 2013 February 1, 2013 40 Lander, WY Acute care general hospital 761 42,849 — — 761 42,849 43,610 1,145 — 1983 December 17, 2019 40 Lawton, OK Acute care general hospital 3,944 63,031 — — 3,944 63,031 66,975 1,692 — 1985 December 17, 2019 40 Layton, UT Acute care general hospital 14,360 370,154 3,034 — 14,360 373,188 387,548 4,914 — 1976-2010 September 29, 2017 40 Leawood, KS Acute care general hospital 2,513 13,938 — — 2,513 13,938 16,451 474 — 2017 June 10, 2019 50 Lehi, UT Acute care general hospital 13,403 29,950 601 (35 ) 13,368 30,551 43,919 2,899 — 2015 September 29, 2017 45 Lewiston, ID Acute care general hospital 5,389 75,435 — — 5,389 75,435 80,824 9,353 — 1922 May 1, 2017 40 Little Elm, TX Freestanding ER 1,241 3,491 — — 1,241 3,491 4,732 615 — 2013 December 1, 2013 40 Liverpool, Australia Acute care general hospital 14,605 45,773 101 — 14,706 45,773 60,479 2,432 — 1975 June 7, 2019 30 London, UK Acute care general hospital 9,842 65,503 82 — 9,924 65,503 75,427 1,643 — 1984 January 9, 2020 40 London, UK Acute care general hospital 3,500 4,454 27 — 3,527 4,454 7,981 113 — 1987 January 9, 2020 40 London, UK Acute care general hospital 13,342 87,261 27 — 13,369 87,261 100,630 2,183 — 1977 January 9, 2020 40 Longmont, CO Freestanding ER 1,826 4,181 — — 1,826 4,181 6,007 514 — 2016 February 10, 2016 40 Lubbock, TX Rehabilitation hospital 1,376 28,292 3,648 — 1,376 31,940 33,316 4,281 — 2008 June 16, 2015 40 Lynwood, CA Acute care general hospital 30,116 148,527 — — 30,116 148,527 178,643 1,555 — 1940, 1989-2000 August 13, 2020 40 Mandeville, LA Freestanding ER 2,800 5,370 — — 2,800 5,370 8,170 559 — 2016 October 28, 2016 40 Marrero, LA Freestanding ER 1,632 5,801 — — 1,632 5,801 7,433 653 — 2016 July 15, 2016 40 McKinney, TX Freestanding ER 2,722 4,060 — — 2,722 4,060 6,782 739 — 2015 July 31, 2015 30 McMinnville, OR Acute care general hospital 5,000 97,900 — — 5,000 97,900 102,900 11,641 — 1996 August 31, 2015 41 Melbourne, FL Acute care general hospital 5,642 17,087 13,443 — 5,642 30,530 36,172 2,132 — 2002 May 1, 2017 42 Mesa, AZ Acute care general hospital 6,534 100,042 1,885 — 6,534 101,927 108,461 19,203 — 2007 September 26, 2013 40 Meyersdale, PA Acute care general hospital 390 4,280 — — 390 4,280 4,670 183 — 1960 December 17, 2019 30 Milton Keynes, UK Acute care general hospital 5,536 38,506 96 — 5,632 38,506 44,138 969 — 1983 January 9, 2020 40 Mount Pleasant, SC Long term acute care hospital 597 2,198 — — 597 2,198 2,795 85 — 2012 August 30, 2019 40 Phoenix, AZ Acute care general hospital 5,576 45,782 — — 5,576 45,782 51,358 4,483 — 2017 February 10, 2017 40 Methuen, MA Acute care general hospital 23,809 89,505 9,184 — 23,809 98,689 122,498 11,290 — 1950-2011 October 3, 2016 41 Bloomington, IN Acute care general hospital 2,392 28,212 5,000 408 2,392 33,620 36,012 11,742 — 2006 August 8, 2006 40 Montclair, NJ Acute care general hospital 7,900 99,640 577 — 8,477 99,640 108,117 17,270 — 1920-2000 April 1, 2014 40 San Antonio, TX Freestanding ER 351 3,952 — — 351 3,952 4,303 666 — 2014 January 1, 2014 40 Newark, NJ Acute care general hospital 32,957 24,553 — — 32,957 24,553 57,510 106 — 1919, 1920-2003 May 2, 2016 40 New Braunfels, TX Rehabilitation hospital 1,853 10,622 — — 1,853 10,622 12,475 23 — 2011 February 29, 2012 40 Colorado Springs, CO Freestanding ER 600 4,231 — — 600 4,231 4,831 697 — 2014 June 5, 2014 40 Initial Costs Additions Subsequent to Acquisition Cost at December 31, 2020(1) Accumulated Life on which depreciation in latest income statements is Location Type of Property Land Buildings Improve- ments Carrying Costs Land Buildings Total Depreciation Encum- brances Date of Construction Date Acquired computed (Years) (Dollar amounts in thousands) Northland, MO Long term acute care hospital 834 17,182 — — 834 17,182 18,016 4,260 — 2007 February 14, 2011 40 Norwood, MA Acute care general hospital 7,073 154,496 35,897 — 7,073 190,393 197,466 9,055 — 1926-2001 June 27, 2018 46 Nottingham, UK Acute care general hospital 5,058 49,340 260 — 5,318 49,340 54,658 1,251 — 1983 January 9, 2020 40 Altoona, WI Acute care general hospital — 29,062 — — — 29,062 29,062 4,601 — 2014 August 31, 2014 40 Odessa, TX Acute care general hospital 6,535 123,518 4,571 — 6,535 128,089 134,624 10,331 — 1973-2004 September 29, 2017 41 Ogden, UT Rehabilitation hospital 1,759 16,414 — — 1,759 16,414 18,173 2,792 — 2014 March 1, 2014 40 Olathe, KS Acute care general hospital 3,485 14,484 — — 3,485 14,484 17,969 498 — 2018 June 10, 2019 50 Olympia, WA Acute care general hospital 7,220 89,348 15,930 — 7,220 105,278 112,498 11,733 — 1984 July 22, 2016 40 Orpington, UK Acute care general hospital 10,936 45,864 164 — 11,100 45,864 56,964 1,157 — 1987 January 9, 2020 40 Ottumwa, IA Acute care general hospital 2,377 48,697 — — 2,377 48,697 51,074 1,811 — 1950 December 17, 2019 30 Overland Park, KS Acute care general hospital 2,974 14,405 — — 2,974 14,405 17,379 498 — 2017 June 10, 2019 50 Overland Park, KS Acute care general hospital 3,191 14,263 — — 3,191 14,263 17,454 518 — 2019 June 10, 2019 50 Overlook, TX Acute care general hospital 2,452 9,666 7 — 2,452 9,673 12,125 1,897 — 2012 February 1, 2013 40 Palestine, TX Acute care general hospital 1,848 95,257 — — 1,848 95,257 97,105 2,496 — 1988 December 17, 2019 40 San Diego, CA Acute care general hospital 6,550 15,653 — 77 6,550 15,730 22,280 5,372 — 1964 May 9, 2007 40 Parker, CO Freestanding ER 1,300 4,448 — — 1,300 4,448 5,748 574 — 2015 November 6, 2015 40 Pasco, WA Acute care general hospital 2,594 13,195 — — 2,594 13,195 15,789 1,052 — 1920 August 31, 2018 30 Pearland, TX Freestanding ER 1,075 3,577 — — 1,075 3,577 4,652 566 — 2014 September 8, 2014 40 Perth, Australia Acute care general hospital 112,312 39,888 1,772 — 112,546 41,426 153,972 2,160 — 1965 June 7, 2019 30 Petersburg, VA Rehabilitation hospital 1,302 9,121 — — 1,302 9,121 10,423 2,850 — 2006 July 1, 2008 40 Phoenix, AZ Acute care general hospital 2,396 26,521 12,253 — 2,396 38,774 41,170 2,521 — 1979 September 29, 2017 42 Phoenix, AZ Acute care general hospital 12,695 73,773 4,978 — 12,695 78,751 91,446 6,703 — 1968-1976 September 29, 2017 43 Plano, TX Freestanding ER 4,343 2,492 — — 4,343 2,492 6,835 375 — 2016 September 30, 2016 40 Poole, UK Acute care general hospital 1,942 41,213 555 — 2,497 41,213 43,710 1,868 — 1996 April 3, 2019 40 Poplar Bluff, MO Acute care general hospital 2,659 38,693 — 1 2,659 38,694 41,353 12,278 — 1980 April 22, 2008 40 Port Arthur, TX Acute care general hospital 12,972 78,051 3,384 — 12,972 81,435 94,407 14,383 — 2005 September 26, 2013 40 Port Huron, MI Acute care general hospital 2,531 14,252 — — 2,531 14,252 16,783 2,434 — 1953, 1973-1983 December 31, 2015 30 Post Falls, ID Rehabilitation hospital 417 12,175 1,905 — 767 13,730 14,497 2,412 — 2013 December 31, 2013 40 Princes Risborough, UK Acute care general hospital 5,006 — — — 5,006 — 5,006 — — N/A January 9, 2020 40 San Antonio, TX Freestanding ER 2,485 4,253 — — 2,485 4,253 6,738 443 — 2016 October 27, 2016 40 Reading, UK Acute care general hospital 36,861 49,579 501 — 37,362 49,579 86,941 1,727 — 1990 August 16, 2019 40 Reading, UK Acute care general hospital 27,272 88,860 641 — 27,913 88,860 116,773 — — 2012 December 18, 2020 40 Redding, CA Acute care general hospital 1,555 53,863 — 13 1,555 53,876 55,431 18,079 — 1974 August 10, 2007 40 Richmond, VA Long term acute care hospital 1,304 10,071 — — 1,304 10,071 11,375 435 — 1989 August 30, 2019 40 Ringwood, Australia Acute care general hospital 4,413 20,469 146 — 4,559 20,469 25,028 954 — 1973 June 7, 2019 35 Riverton, WY Acute care general hospital 1,163 29,647 — — 1,163 29,647 30,810 919 — 1983 December 17, 2019 36 Austin, TX Freestanding ER 3,782 4,200 — — 3,782 4,200 7,982 434 — 2017 March 2, 2017 40 Roaring Springs, PA Acute care general hospital 1,446 9,549 — — 1,446 9,549 10,995 405 — 1924 December 17, 2019 30 Rochdale, MA Long term acute care hospital 654 3,368 — — 654 3,368 4,022 132 — 1989 August 30, 2019 40 Rochdale, MA Acute care general hospital 67 344 — — 67 344 411 13 — 1989 August 30, 2019 40 Rochdale, UK Acute care general hospital 3,691 43,759 150 — 3,841 43,759 47,600 1,104 — 1965 January 9, 2020 40 Rockledge, FL Acute care general hospital 13,919 23,282 5,512 — 13,919 28,794 42,713 3,413 — 1950, 1970 May 1, 2017 42 Roeland Park, KS Acute care general hospital 1,569 15,103 — — 1,569 15,103 16,672 509 — 2018 June 10, 2019 50 Rosenberg, TX Freestanding ER 1,309 4,505 — — 1,309 4,505 5,814 563 — 2016 January 15, 2016 40 Initial Costs Additions Subsequent to Acquisition Cost at December 31, 2020(1) Accumulated Life on which depreciation in latest income statements is Location Type of Property Land Buildings Improve- ments Carrying Costs Land Buildings Total Depreciation Encum- brances Date of Construction Date Acquired computed (Years) (Dollar amounts in thousands) Rowley, UK Acute care general hospital 2,515 19,652 608 — 3,123 19,652 22,775 717 — 1986 August 16, 2019 40 Columbus, OH Freestanding ER 1,726 — — — 1,726 — 1,726 — — 2016 August 30, 2016 - Salt Lake City, UT Acute care general hospital 13,590 101,915 15,109 — 13,590 117,024 130,614 8,751 — 1906-1987 September 29, 2017 41 San Antonio, TX Acute care general hospital 8,053 29,333 1,945 — 8,053 31,278 39,331 2,735 — 1978-2002 September 29, 2017 41 San Bernardino, CA Acute care general hospital 2,209 37,498 — — 2,209 37,498 39,707 1,366 — 1993 August 30, 2019 40 San Dimas, CA Acute care general hospital 6,161 6,839 — 34 6,161 6,873 13,034 2,080 — 1972 November 25, 2008 40 San Dimas, CA Medical Office Building 1,915 5,085 — 18 1,915 5,103 7,018 1,545 — 1979 November 25, 2008 40 Phoenix, AZ Freestanding ER 1,132 5,052 — — 1,132 5,052 6,184 474 — 2017 April 13, 2017 40 Sebastian, FL Acute care general hospital 5,733 49,136 52,394 — 5,733 101,530 107,263 5,392 — 1974 May 1, 2017 41 Sharon, PA Acute care general hospital 6,179 9,066 6,435 — 6,179 15,501 21,680 2,356 — 1950-1980 May 1, 2017 41 Shawnee, KS Acute care general hospital 3,076 14,945 — — 3,076 14,945 18,021 587 — 2018 June 10, 2019 50 Sheffield, UK Acute care general hospital 6,835 47,906 267 — 7,102 47,906 55,008 1,215 — 2008 January 9, 2020 40 Sherman, TX Acute care general hospital 3,363 10,932 — — 3,363 10,932 14,295 3,169 — 1913, 1960-2010 October 31, 2014 40 Sienna, TX Freestanding ER 1,000 2,027 — — 1,000 2,027 3,027 554 — 2014 August 20, 2014 40 Spartanburg, SC Rehabilitation hospital 1,135 15,717 — — 1,135 15,717 16,852 2,899 — 2013 August 1, 2013 40 St. Albans Park, Australia Acute care general hospital 2,298 23,474 4,921 — 2,893 27,800 30,693 1,008 — 1985 June 7, 2019 40 Stockton, CA Rehabilitation hospital 2,932 — — — 2,932 — 2,932 — — 2021 November 23, 2020 40 Strathpine, Australia Acute care general hospital 2,781 38,949 330 — 3,111 38,949 42,060 1,585 — 1985 June 7, 2019 40 Sunnybank, Australia Acute care general hospital 6,377 48,465 379 — 6,756 48,465 55,221 2,318 — 1979 June 7, 2019 34 Sussex, NJ Freestanding ER 477 2,097 — — 477 2,097 2,574 10 — 1920 September 30, 2015 40 Swindon, UK Acute care general hospital 5,577 64,181 144 — 5,721 64,181 69,902 1,614 — 1984 January 9, 2020 40 Houston, TX Freestanding ER 1,423 1,890 — — 1,423 1,890 3,313 532 — 2015 February 18, 2015 40 Taunton, MA Acute care general hospital 4,428 73,228 11,290 — 4,428 84,518 88,946 8,573 — 1940-2015 October 3, 2016 41 Tempe, AZ Acute care general hospital 6,050 10,986 6,773 — 6,050 17,759 23,809 1,457 — 1940 September 29, 2017 41 Texarkana, TX Acute care general hospital 14,562 — — — 14,562 — 14,562 — — 2017 September 29, 2017 - Thornton, CO Freestanding ER 1,350 4,259 — — 1,350 4,259 5,609 674 — 2014 August 29, 2014 40 Toledo, OH Rehabilitation hospital 1,186 17,740 — — 1,186 17,740 18,926 2,107 — 2016 April 1, 2016 40 Tomball, TX Long term acute care hospital 1,299 23,982 — — 1,299 23,982 25,281 5,996 — 2005 December 21, 2010 40 Torquay, UK Acute care general hospital 2,840 38,379 360 — 3,200 38,379 41,579 1,319 — 1981 August 16, 2019 40 Houston, TX Acute care general hospital 4,047 36,862 — — 4,047 36,862 40,909 4,147 — 2016 July 7, 2016 40 League City, TX Freestanding ER 1,336 3,901 — — 1,336 3,901 5,237 536 — 2015 June 19, 2015 40 Anaheim, CA Acute care general hospital 1,875 21,813 — 10 1,875 21,823 23,698 7,729 — 1964 November 8, 2006 40 Viseu, Portugal Acute care general hospital 2,319 31,963 486 — 2,805 31,963 34,768 971 — 2016 November 28, 2019 37 Wantirna, Australia Acute care general hospital 27,854 229,129 1,050 — 28,904 229,129 258,033 9,208 — 1984 June 7, 2019 40 Warren, OH Acute care general hospital 5,385 47,588 9,893 — 5,385 57,481 62,866 5,935 — 1982 May 1, 2017 41 Watsonville, CA Acute care general hospital 16,488 17,800 — — 16,488 17,800 34,288 818 — 1983 September 30, 2019 39 West Jordan, UT Acute care general hospital 16,896 233,256 3,319 — 16,896 236,575 253,471 3,185 — 1983 September 29, 2017 40 West Monroe, LA Acute care general hospital 12,000 69,433 16,187 — 12,552 85,068 97,620 14,060 — 1962 September 26, 2013 40 San Antonio, TX Acute care general hospital 2,248 5,880 — — 2,248 5,880 8,128 1,199 — 2012 October 2, 2012 40 West Valley City, UT Acute care general hospital 5,374 58,314 7,150 (114 ) 5,260 65,464 70,724 19,035 — 1980 April 22, 2008 40 Wichita, KS Rehabilitation hospital 1,019 18,373 — 1 1,019 18,374 19,393 5,856 — 1992 April 4, 2008 40 Winchester, UK Acute care general hospital 6,835 11,035 130 — 6,965 11,035 18,000 284 — 1911 January 9, 2020 40 Windsor, UK Acute care general hospital 12,973 112,450 109 — 13,082 112,450 125,532 2,818 — 1955 January 9, 2020 40 Worthing, UK Acute care general hospital 7,108 32,370 103 — 7,211 32,370 39,581 816 — 1994 January 9, 2020 40 Youngstown, OH Acute care general hospital 4,335 3,565 824 — 4,335 4,389 8,724 2,160 — 1929-2003 May 1, 2017 41 $ 1,442,071 $ 8,857,393 $ 428,465 $ 21,778 $ 1,463,201 $ 9,286,506 $ 10,749,707 $ 728,176 (1) The aggregate cost for federal income tax purposes is $10.9 The changes in total real estate assets (excluding construction in progress, intangible lease assets, investment in financing leases, and mortgage loans) are as follows for the years ended (in thousands): December 31, 2020 December 31, 2019 December 31, 2018 COST Balance at beginning of period $ 7,312,486 $ 4,781,149 $ 5,438,148 Acquisitions 2,912,594 2,436,265 758,619 Transfers from construction in progress 202,999 — 25,513 Additions 55,137 173,785 96,775 Dispositions (105,360 ) (106,536 ) (1,318,238 ) Other 371,851 (2) 27,823 (2) (219,668 ) (2) Balance at end of period $ 10,749,707 $ 7,312,486 $ 4,781,149 The changes in accumulated depreciation are as follows for the years ended (in thousands): December 31, 2020 December 31, 2019 December 31, 2018 ACCUMULATED DEPRECIATION Balance at beginning of period $ 504,651 $ 414,331 $ 407,349 Depreciation 222,580 130,851 115,497 Depreciation on disposed property (6,653 ) (40,952 ) (101,967 ) Other 7,598 421 (6,548 ) Balance at end of period $ 728,176 $ 504,651 $ 414,331 (2) Includes foreign currency fluctuations for all years and $13.8 million and $61.4 million of right-of-use assets in 2020 and 2019, respectively. |
SCHEDULE IV - MORTGAGE LOANS ON
SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE | 12 Months Ended |
Dec. 31, 2020 | |
Mortgage Loans On Real Estate [Abstract] | |
SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE | SCHEDULE IV — MORTGAGE LOANS ON REAL ESTATE MEDICAL PROPERTIES TRUST, INC. AND MPT OPERATING PARTNERSHIP, L.P. December 31, 2020 Column A Column B Column C Column D Column E Column F Column G(1) Column H Description Interest Rate Final Maturity Date Periodic Payment Terms Prior Liens Face Amount of Mortgages Carrying Amount of Mortgages Principal Amount of Loans Subject to Delinquent Principal or Interest (Dollar amounts in thousands) Long-term first mortgage loan: Payable in monthly installments of interest plus principal payable in full at maturity Olympia Medical Center 11.14 % 2024 (2) (3 ) $ 25,000 $ 25,000 (4 ) East Ohio Regional Hospital 8.00 % 2025 (3 ) 1,750 1,750 (4 ) Colombia(5) 8.95 % 2035 (3 ) 136,332 136,332 (4 ) St. Luke's Hospital (6) 2021 (3 ) 15,000 15,000 (4 ) Vibra 11.50 % 2024 (3 ) 18,986 18,986 (4 ) Prospect 7.50 % 2034 (3 ) 51,267 51,267 (4 ) $ 248,335 $ 248,335 (7 ) (1) The aggregate cost for federal income tax purposes is $248.3 million. (2) Loan was paid off subsequent to December 31, 2020. (3) There were no prior liens on loans as of December 31, 2020. (4) The mortgage loan was not delinquent with respect to principal or interest. (5) Mortgage loans covering three properties. (6) Principal only due to short-term nature of loan. (7) Excludes allowance for credit loss of $0.3 million at December 31, 2020. Changes in mortgage loans (excluding allowance for credit loss for 2020 only and unamortized loan issue costs for 2019 and 2018 only) for the years ended December 31, 2020, 2019, and 2018 are summarized as follows: Year Ended December 31, 2020 2019 2018 (Dollar amounts in thousands) Balance at beginning of year $ 1,274,995 $ 1,213,283 $ 1,778,264 Additions during year: New mortgage loans and additional advances on existing loans 193,590 61,712 50,783 Exchange rate fluctuations 9,785 — — 1,478,370 1,274,995 1,829,047 Deductions during year: Collection of principal (1,230,035 ) (8) — (615,764 ) (1,230,035 ) — (615,764 ) Balance at end of year $ 248,335 $ 1,274,995 $ 1,213,283 (8) Includes $835 million of mortgage loans that were used to acquire the underlying fee simple real estate as more fully described in Note 3 to Item 8 of this Annual Report on Form 10-K. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates: The preparation of our consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. During 2020, the global outbreak of a novel coronavirus, or COVID-19, spread all over the world including countries where we own and lease facilities. The World Health Organization designated COVID-19 as a pandemic, and numerous countries, including the U.S., declared national emergencies with respect to COVID-19. As the global impact of the outbreak evolved, many countries reacted by instituting quarantines and restrictions on travel, closing financial markets and/or restricting trade- including requiring medically necessary elective surgeries at hospitals to be deferred. Although hospitals are back accepting patients and performing medically necessary elective surgeries, many of these trade restrictions are still in place. We believe the estimates and assumptions underlying our consolidated financial statements are reasonable and supportable based on the information available as of December 31, 2020 (particularly as it relates to our assessments of the recoverability of our real estate and the adequacy of our credit loss reserves on loans and financing receivables). However, the ultimate impact to our tenants’ results of operations and liquidity and their ability to pay our rent and interest due to the impact of COVID-19 cannot be predicted with 100% confidence, particularly given the full scope, severity, and duration of the pandemic and the actions needed (including vaccine rollouts worldwide) to contain the pandemic or mitigate its impact is uncertain. This makes any estimates and assumptions as of December 31, 2020 inherently less certain than they would be absent the potential impact of COVID-19. Actual results could differ from those estimates. |
Principles of Consolidation | Principles of Consolidation: Property holding entities and other subsidiaries of which we own 100% of the equity or have a controlling financial interest evidenced by ownership of a majority voting interest are consolidated. All inter-company balances and transactions are eliminated. For entities in which we own less than 100% of the equity interest, we consolidate the property if we have the direct or indirect ability to control the entities’ activities based upon the terms of the respective entities’ ownership agreements. For these entities, we record a non-controlling interest representing equity held by non-controlling interests. We continually evaluate all of our transactions and investments to determine if they represent variable interests in a variable interest entity. If we determine that we have a variable interest in a variable interest entity, we then evaluate if we are the primary beneficiary of the variable interest entity. The evaluation is a qualitative assessment as to whether we have the ability to direct the activities of a variable interest entity that most significantly impact the entity’s economic performance. We consolidate each variable interest entity in which we, by virtue of or transactions with our investments in the entity, are considered to be the primary beneficiary. At December 31, 2020, we had loans and/or equity investments in certain variable interest entities approximating $230 million, which represents our maximum exposure to loss as a result of our involvement in such entities. We have determined that we were not the primary beneficiary of any variable interest entity in which we hold a variable interest because we do not control the activities (such as the day-to-day operations) that most significantly impact the economic performance of these entities. |
Investments in Unconsolidated Entities | Investments in Unconsolidated Entities: Investments in entities in which we have the ability to significantly influence (but not control) are accounted for by the equity method, such as our joint venture with Primotop Holdings S.à.r.l. (“Primotop”) as discussed in Note 3 . Under the equity method of accounting, our share of the investee’s earnings or losses are included in the “Earnings from equity interests” line of our consolidated statements of net income. Except for our joint venture with Primotop, we have elected to record our share of such investee’s earnings or losses on a lag basis. The initial carrying value of investments in unconsolidated entities is based on the amount paid to purchase the interest in the investee entity. Subsequently, our investments are increased/decreased by our share in the investees’ earnings/losses and decreased by cash distributions from our investees. To the extent that our cost basis is different from the basis reflected at the investee entity level, the basis difference is generally amortized over the lives of the related assets and liabilities, and such amortization is included in our share of equity in earnings of the investee. We evaluate our equity method investments for impairment based upon a comparison of the fair value of the equity method investment to its carrying value, when impairment indicators exist. If we determine a decline in the fair value of an investment in an unconsolidated investee entity below its carrying value is other-than-temporary, an impairment is recorded. Investments in entities in which we do not control nor do we have the ability to significantly influence and for which there is no readily determinable fair value (such as our investments in Steward Health Care System LLC (“Steward”) and Median Kliniken S.á.r.l. (“MEDIAN”)) are accounted for at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions involving the investee. Any cash distributions on these types of investments are recorded to income upon receipt. For similar investments but for which there are readily determinable fair values, such investments are measured at fair value, with unrealized gains and losses recorded in income. |
Cash and Cash Equivalents | Cash and Cash Equivalents: Certificates of deposit, short-term investments with original maturities of three months or less, and money-market mutual funds are considered cash equivalents. The majority of our cash and cash equivalents are held at major commercial banks, which at times may exceed the Federal Deposit Insurance Corporation limit. We have not experienced any losses to-date on our invested cash. Cash and cash equivalents which have been restricted as to its use are recorded in other assets. |
Revenue Recognition | Revenue Recognition: Our revenues are primarily from leases and loans. On January 1, 2019, we adopted Accounting Standards Update (“ASU”) 2016-02, “Leases”, (“ASU 2016-02”). ASU 2016-02 sets out the principles for the recognition, measurement, presentation, and disclosure of leases for both parties to a contract (i.e. lessees and lessors). We adopted this standard using the modified retrospective approach and elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things permitted the following: no reassessment of whether existing contracts were or contained a lease and no reassessment of lease classification for existing leases. In addition, we made certain elections permitted which (1) allowed entities to apply the transition provisions of the new standard at its adoption date instead of at the earliest comparative period presented and (2) permitted lessors to account for lease and non-lease components as a single lease component in a contract if certain criteria were met. For lessors, this new standard of accounting for leases was substantially equivalent to previous guidance, but there were some differences which we highlight below: Operating Lease Revenue We receive income from operating leases based on the fixed required rents (base rents) per the lease agreements. Rent revenue from base rents is recorded on the straight-line method over the terms of the related lease agreements for new leases and the remaining terms of existing leases for those acquired as part of a property acquisition. The straight-line method records the periodic average amount of base rents earned over the term of a lease, taking into account contractual rent increases over the lease term. The straight-line method typically has the effect of recording more rent revenue from a lease than a tenant is required to pay early in the term of the lease. During the later parts of a lease term, this effect reverses with less rent revenue recorded than a tenant is required to pay. Rent revenue, as recorded on the straight-line method, in the consolidated statements of net income is presented as two amounts: rent billed and straight-line rent. Rent billed revenue is the amount of base rent actually billed to our tenants each period as required by the lease. Straight-line rent revenue is the difference between rent revenue earned based on the straight-line method and the amount recorded as rent billed revenue. We record the difference between rent revenues earned and amounts due per the respective lease agreements, as applicable, as an increase or decrease to straight-line rent receivables. Rental payments received prior to their recognition as income are classified as deferred revenue. Financing Lease Revenue Under the lease accounting rules adopted on January 1, 2019, if an acquisition and subsequent lease of a property to the seller does not meet the definition of a sale, we must account for the transaction as a financing with income recognized using the imputed interest method. Another type of financing lease that we carried forward from the previous lease accounting guidance is a direct financing lease (“DFL”). For leases accounted for as DFLs, the future minimum lease payments are recorded as a receivable. The difference between the future minimum lease payments and the estimated residual values less the cost of the properties is recorded as unearned income. Unearned income is deferred and amortized to income over the lease terms to provide a constant yield when collectability of the lease payments is reasonably assured. Investments in DFLs are presented net of unearned income. Other Leasing Revenue We begin recording base rent income from our development projects when the lessee takes physical possession of the facility, which may be different from the stated start date of the lease. Also, during construction of our development projects, we may be entitled to accrue rent based on the cost paid during the construction period (construction period rent). We accrue construction period rent as a receivable with a corresponding offset to deferred revenue during the construction period. When the lessee takes physical possession of the facility, we begin recognizing the deferred construction period revenue on the straight-line method over the term of the lease. We also receive additional rent (contingent rent) under some leases based on increases in the consumer price index (“CPI”) (or similar index outside the U.S.) or when CPI exceeds the annual minimum percentage increase as stipulated in the lease. Contingent rents are recorded as rent billed revenue in the period earned. Starting January 1, 2019 (with the adoption of ASU 2016-02), tenant payments for ground leases along with other operating expenses, such as property taxes and insurance, that are paid directly by us and reimbursed by our tenants are presented on a gross basis with the related revenues recorded in “Interest and other income” and the related expenses in “Property-related” in our consolidated statements of net income. All payments of other operating expenses made directly by the tenant to the applicable government or appropriate third-party vendor are recorded on a net basis, consistent with how all tenant payments or reimbursements pursuant to our “triple-net” leases were accounted for prior to the adoption of ASU 2016-02. Interest Revenue We receive interest income from our tenants/borrowers on mortgage loans, working capital loans, and other long-term loans. Interest income from these loans is recognized as earned based upon the principal outstanding and terms of the loans. Other Revenue Commitment fees received from lessees for development and leasing services are initially recorded as deferred revenue and recognized as income over the initial term of a lease to produce a constant effective yield on the lease (interest method). Commitment and origination fees from lending services are also recorded as deferred revenue initially and recognized as income over the life of the loan using the interest method. |
Acquired Real Estate Purchase Price Allocation | Acquired Real Estate Purchase Price Allocation: We account for acquisitions of real estate under asset acquisition accounting rules. Under this accounting standard, we allocate the purchase price (including any third-party transaction costs directly related to the acquisition) of acquired properties to tangible and identified intangible assets acquired and liabilities assumed (if any) based on their fair values. In making estimates of fair values for purposes of allocating purchase prices of acquired real estate, we may utilize a number of sources, from time-to-time, including available real estate broker data, independent appraisals that may be obtained in connection with the acquisition, internal data from previous acquisitions or developments, and other market data, including market comparables for significant assumptions such as market rental, capitalization, and discount rates. We also consider information obtained about each property as a result of our pre-acquisition due diligence, marketing, and leasing activities in estimating the fair value of the tangible and intangible assets acquired. We measure the aggregate value of lease intangible assets acquired based on the difference between (i) the property valued with new or in-place leases adjusted to market rental rates and (ii) the property valued as if vacant. Management’s estimates of value are made using methods similar to those used by independent appraisers (e.g., discounted cash flow analysis). Factors considered by management in our analysis include an estimate of carrying costs during hypothetical expected lease-up periods, considering current market conditions, and costs to execute similar leases. We also consider information obtained about each targeted facility as a result of our pre-acquisition due diligence, marketing, and leasing activities in estimating the fair value of the intangible assets acquired. In estimating carrying costs, management includes real estate taxes, insurance , and other operating expenses and estimates of lost rentals at market rates during the expected lease-up periods, which we expect to be about six months , but can be longer depending on specific local market conditions. Management also estimates costs to execute similar leases including leasing commissions, legal costs, and other related expenses to the extent that such costs are not already incurred in connection with a new lease origination as part of the transaction. Other intangible assets acquired may include customer relationship intangible values which are based on management’s evaluation of the specific characteristics of each prospective tenant’s lease and our overall relationship with that tenant. Characteristics to be considered by management in allocating these values include the nature and extent of our existing business relationships with the tenant, growth prospects for developing new business with the tenant, the tenant’s credit quality, and expectations of lease renewals, including those existing under the terms of the lease agreement, among other factors. We amortize the value of our lease intangible assets to expense over the term of the respective leases. If a lease is terminated early, the unamortized portion of the lease intangibles are charged to expense. We record above-market and below-market in-place lease values, if any, for our facilities, which are based on the present value of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of the lease. We amortize any resulting capitalized above-market lease values as a reduction of rental income over the lease term. We amortize any resulting capitalized below-market lease values as an increase to rental income over the lease term. If a lease is terminated early, the unamortized portion of the capitalized above/below market lease value is recognized in rental income at that time. |
Real Estate and Depreciation | Real Estate and Depreciation: Real estate, consisting of land, buildings and improvements, are maintained at cost. Although typically paid by our tenants, any expenditure for ordinary maintenance and repairs that we pay are expensed to operations as incurred. Significant renovations and improvements which improve and/or extend the useful life of the asset are capitalized and depreciated over their estimated useful lives. We record impairment losses on long-lived assets used in operations when events and circumstances indicate that the assets might be impaired and the undiscounted cash flows estimated to be generated by those assets, including an estimated liquidation amount, during the expected holding periods are less than the carrying amounts of those assets. Impairment losses are measured as the difference between carrying value and fair value of the assets. For assets held for sale, we cease recording depreciation expense and adjust the assets’ value to the lower of its carrying value or fair value, less cost of disposal. Fair value is based on estimated cash flows discounted at a risk-adjusted rate of interest. We classify real estate assets as held for sale when we have commenced an active program to sell the assets, and in the opinion of management, it is probable the asset will be sold within the next 12 months. Construction in progress includes the cost of land, the cost of construction of buildings, improvements, and fixed equipment, and costs for design and engineering. Other costs, such as interest, legal, property taxes, and corporate project supervision, which can be directly associated with the project during construction, are also included in construction in progress. We commence capitalization of costs associated with a development project when the development of the future asset is probable and activities necessary to get the underlying property ready for its intended use have been initiated. We stop the capitalization of costs when the property is substantially complete and ready for its intended use. Depreciation is calculated on the straight-line method over the estimated useful lives of the related real estate and other assets. Our weighted-average useful lives at December 31, 2020 are as follows: Buildings and improvements 39.0 years Lease intangibles 26.1 years Leasehold improvements 17.0 years Furniture, equipment, and other 9.8 years |
Losses from Rent Receivables | Credit Losses: Losses from Rent Receivables: Losses from Operating Lease Receivables: and/or straight-line rent receivables is needed. A provision for losses on rent receivables (including straight-line rent receivables) is ultimately recorded when it becomes probable that the receivable will not be collected in full. The provision is an amount which reduces the receivable to its estimated net realizable value based on a determination of the eventual amounts to be collected either from the debtor or from existing collateral, if any. Losses on Financing Lease Receivables: With the adoption of ASU 2016-13, we made the accounting policy election to exclude interest receivables from the credit loss reserve analysis. Such receivables are impaired and an allowance recorded when it is deemed probable that we will be unable to collect all amounts due. Like operating lease receivables, the need for an allowance is based upon our assessment of the lessee’s overall financial condition, economic resources and payment record, the prospects for support from any financially responsible guarantors, and, if appropriate, the realizable value of any collateral. Financing leases are placed on non-accrual status when we determine that the collectability of contractual amounts is not reasonably assured. If on non-accrual status, we generally account for the financing lease on a cash basis, in which income is recognized only upon receipt of cash. |
Loans | Loans Upon adoption of ASU 2016-13, we recorded a credit loss reserve of $8.4 million with the effect recorded in equity as a cumulative effect of a change in accounting principle. |
Earnings Per Share/Units | Earnings Per Share/Units: Basic earnings per common share/unit is computed by dividing net income by the weighted-average number of shares/units outstanding during the period. Diluted earnings per common share/unit is calculated by including the effect of dilutive securities. Our unvested restricted stock awards contain non-forfeitable rights to dividends, and accordingly, these awards are deemed to be participating securities. These participating securities are included in the earnings allocation in computing both basic and diluted earnings per common share/unit. |
Income Taxes | Income Taxes: We conduct our business as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (“the Code”). To qualify as a REIT, we must meet certain organizational and operational requirements, including a requirement to distribute to stockholders at least 90% of our REIT’s ordinary taxable income. As a REIT, we generally pay little U.S. federal and state income tax because of the dividends paid deduction that we are allowed to take. If we fail to qualify as a REIT in any taxable year, we will then be subject to U.S. federal income taxes on our taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for federal income tax purposes for four years following the year during which qualification is lost, unless the Internal Revenue Service grants us relief under certain statutory provisions. Such an event could materially adversely affect our net income and net cash available for distribution to stockholders. However, we intend to operate in such a manner so that we will remain qualified as a REIT for U.S. federal income tax purposes. Our financial statements include the operations of a TRS, MPT Development Services, Inc. (“MDS”), and with many other entities, which are single member LLCs that are disregarded for tax purposes and are reflected in the tax returns of MDS. MDS is not entitled to a dividends paid deduction and is subject to U.S. federal, state, and local income taxes. MDS is authorized to provide property development, leasing, and management services for third-party owned properties, and we will make non-mortgage loans to and/or investments in our lessees through this entity . With the property acquisitions and investments in Europe, Australia, and South America, we are subject to income taxes internationally. However, we do not expect to incur any additional income taxes in the U.S. as such income from our international properties flows through our REIT income tax returns. For our TRS and international subsidiaries, we determine deferred tax assets and liabilities based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Any increase or decrease in our deferred tax assets/liabilities that results from a change in circumstances and that causes us to change our judgment about expected future tax consequences of events, is reflected in our tax provision when such changes occur. Deferred income taxes also reflect the impact of operating loss carryforwards. A valuation allowance is provided if we believe it is more likely than not that all or some portion of our deferred tax assets will not be realized. Any increase or decrease in the valuation allowance that results from a change in circumstances, and that causes us to change our judgment about our ability to realize the related deferred tax asset, is reflected in our tax provision when such changes occur. The calculation of our income taxes involves dealing with uncertainties in the application of complex tax laws and regulations in a multitude of jurisdictions across our global operations. An income tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, on the basis of technical merits. However, if a more likely than not position cannot be reached, we record a liability as an offset to the tax benefit and adjust the liabilities when our judgment changes as a result of the evaluation of new information not previously available. Because of the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from our current estimate of the uncertain tax position liabilities. These differences will be reflected as increases or decreases to income tax expense in the period in which new information is available. |
Stock-Based Compensation | Stock-Based Compensation: We adopted the 2019 Equity Incentive Plan (the “Equity Incentive Plan”) during the second quarter of 2019. Awards of restricted stock and other equity-based awards with service conditions are valued at the average stock price per share on the date of grant and are amortized to compensation expense over the service periods (typically three years), using the straight-line method. Awards that contain market conditions are valued on the grant date using a Monte Carlo valuation model and are amortized to compensation expense over the derived service periods, which correspond to the periods over which we estimate the awards will be earned, which generally range from three to five years, using the straight-line method. Awards with performance conditions are valued at the average stock price per share on the date of grant and are amortized using the straight-line method over the service period, adjusted for the probability of achieving the performance conditions. Forfeitures of stock-based awards are recognized as they occur. |
Deferred Costs | Deferred Costs: Costs incurred that directly relate to the offerings of stock are deferred and netted against proceeds received from the offering. Leasing commissions and other leasing costs that would not have been incurred if the lease was not obtained are capitalized as deferred leasing costs and amortized on the straight-line method over the terms of the related lease agreements. Costs identifiable with loans made to borrowers are capitalized and recognized as a reduction in interest income over the life of the loan. |
Deferred Financing Costs | Deferred Financing Costs: We generally capitalize financing costs incurred in connection with new financings and refinancings of debt. These costs are amortized over the lives of the related debt as an addition to interest expense. For debt with defined principal re-payment terms, the deferred costs are amortized to produce a constant effective yield on the debt (interest method) and are included within “Debt, net” on our consolidated balance sheets. For debt without defined principal repayment terms, such as our revolving credit facility, the deferred costs are amortized on the straight-line method over the term of the debt and are included as a component of “Other assets” on our consolidated balance sheets. |
Foreign Currency Translation and Transactions | Foreign Currency Translation and Transactions: Certain of our international subsidiaries’ functional currencies are the local currencies of their respective countries. We translate the results of operations of our foreign subsidiaries into U.S. dollars using average rates of exchange in effect during the period, and we translate balance sheet accounts using exchange rates in effect at the end of the period. We record resulting currency translation adjustments in “Accumulated other comprehensive income (loss)”, a component of stockholders’ equity on our consolidated balance sheets. Certain of our U.S. subsidiaries will enter into short-term and long-term transactions denominated in a foreign currency from time-to-time. Gains or losses resulting from these foreign currency transactions are revalued into U.S. dollars at the rates of exchange prevailing at the dates of the transactions. The effects of revaluation gains or losses on our short-term transactions are included in other income in the consolidated statements of income, while the revaluation effects on our long-term investments are recorded in “Accumulated other comprehensive income (loss)” on our consolidated balance sheets. |
Derivative Financial Investments and Hedging Activities | Derivative Financial Investments and Hedging Activities: During our normal course of business, we may use certain types of derivative instruments for the purpose of managing interest rate and/or foreign currency risk. We record our derivative and hedging instruments at fair value on the balance sheet. Changes in the estimated fair value of derivative instruments that are not designated as hedges or that do not meet the criteria for hedge accounting are recognized in earnings. For derivatives designated as cash flow hedges, the change in the estimated fair value of the effective portion of the derivative is recognized in “A ccumulated other comprehensive income (loss) ” on our consolidated balance sheets, whereas the change in the estimated fair value of the ineffective portion is recognized in earnings. For derivatives designated as fair value hedges, the change in the estimated fair value of the effective portion of the derivatives offsets the change in the estimated fair value of the hedged item, whereas the change in the estimated fair value of the ineffective por tion is recognized in earnings . To qualify for hedge accounting, we formally document all relationships between hedging instruments and hedged items, as well as our risk management objective and strategy for undertaking the hedge prior to entering into a derivative transaction. This process includes specific identification of the hedging instrument and the hedge transaction, the nature of the risk being hedged and how the hedging instrument’s effectiveness in hedging the exposure to the hedged transaction’s variability in cash flows attributable to the hedged risk will be assessed. Both at the inception of the hedge and on an ongoing basis, we assess whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in cash flows or fair values of hedged items. In addition, for cash flow hedges, we assess whether the underlying forecasted transaction will occur. We discontinue hedge accounting if a derivative is not determined to be highly effective as a hedge or that it is probable that the underlying forecasted transaction will not occur. |
Fair Value Measurement | Fair Value Measurement: We measure and disclose the estimated fair value of financial assets and liabilities utilizing a hierarchy of valuation techniques based on whether the inputs to a fair value measurement are considered to be observable or unobservable in a marketplace. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. This hierarchy requires the use of observable market data when available. These inputs have created the following fair value hierarchy: • Level 1 — quoted prices for identical instruments in active markets; • Level 2 — quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and • Level 3 — fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable . We measure fair value using a set of standardized procedures that are outlined herein for all assets and liabilities which are required to be measured at their estimated fair value on either a recurring or non-recurring basis. When available, we utilize quoted market prices from an independent third party source to determine fair value and classify such items in Level 1. In some instances where a market price is available, but the instrument is in an inactive or over-the-counter market, we apply the dealer (market maker) pricing estimate and classify the asset or liability in Level 2. If quoted market prices or inputs are not available, fair value measurements are based upon valuation models that utilize current market or independently sourced market inputs, such as interest rates, option volatilities, credit spreads, market capitalization rates, etc. Items valued using such internally-generated valuation techniques are classified according to the lowest level input that is significant to the fair value measurement. As a result, the asset or liability could be classified in either Level 2 or 3 even though there may be some significant inputs that are readily observable. Internal fair value models and techniques that have been used by us include discounted cash flow and Monte Carlo valuation models. We also consider counterparty’s and our own credit risk on derivatives and other liabilities measured at their estimated fair value. Fair Value Option Election: For our equity investment in the new international joint venture along with any related investments such as loans (see Note 3 for more details), we have elected to account for these investments at fair value due to the size of the investments and because we believe this method is more reflective of current values. We have not made a similar election for other investments that existed at December 31, 2020. |
Leases (Lessee) | Leases (Lessee) Pursuant to ASU 2016-02, we are required to apply a dual approach, classifying leases as either financing or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification determines whether lease expense is recognized based on an effective interest method (for finance leases) or on a straight-line basis (for operating leases) over the term of the lease. Starting January 1, 2019, we began recording a right-of-use asset and a lease liability for all material leases with a term greater than 12 months regardless of their classification. Leases with a term of 12 months or less are off balance sheet with lease expense recognized on a straight-line basis over the lease term, similar to previous guidance for operating leases. |
Reclassification | Reclassifications: Certain amounts in the consolidated financial statements for prior periods have been reclassified to conform to the current period presentation. |
Recent Accounting Developments | Recent Accounting Developments Reference Rate Reform In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (“ASU 2020-04”) to simplify the accounting for contract modifications made to replace LIBOR or other reference rates that are expected to be discontinued because of reference rate reform. The guidance provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criterion are met. The optional expedients and exceptions can be applied to contract modifications made until December 31, 2022. On January 7, 2021, the FASB issued ASU No. 2021-01, “Reference Rate Reform (Topic 848)” (“ASU 2021-01”), which clarifies that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. The amendments in ASU 2021-01 are elective and apply to our debt and derivative instruments that may be modified as a result of reference rate reform. We are continuing to evaluate these standards, as well as the timing of the transition of various rates in our debt and derivative instruments affected by reference rate reform. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Estimated Useful Lives of Related Real Estate and Other Assets | Depreciation is calculated on the straight-line method over the estimated useful lives of the related real estate and other assets. Our weighted-average useful lives at December 31, 2020 are as follows: Buildings and improvements 39.0 years Lease intangibles 26.1 years Leasehold improvements 17.0 years Furniture, equipment, and other 9.8 years |
Real Estate Activities (Tables)
Real Estate Activities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Real Estate [Line Items] | |
Net Assets Acquired | For the years ended December 31, 2020, 2019, and 2018, we acquired or invested in the following net assets (in thousands): 2020 2019 2018 Land and land improvements $ 365,281 $ 400,539 $ 71,880 Buildings 2,547,313 1,951,066 686,739 Intangible lease assets — subject to amortization (weighted-average useful life of 27.5 years in 2020, 19.1 years in 2019, and 27.9 years in 2018) 642,699 227,468 90,651 Investment in financing leases 114,797 1,386,797 — Equity investments 233,593 415,836 245,267 Mortgage loans 176,840 51,267 — Other loans and assets 309,523 135,258 336,458 Liabilities assumed (140,866 ) (2,637 ) — Total assets acquired $ 4,249,180 $ 4,565,594 $ 1,430,995 Loans repaid(1) (834,743 ) — (764,447 ) Total net assets acquired $ 3,414,437 $ 4,565,594 $ 666,548 (1) The 2020 column includes approximately $750 million of loans advanced to Steward in 2017 and exchanged for the fee simple real estate of two hospitals as described below, as well as approximately $100 million of loans advanced to Ernest Health, Inc. (“Ernest”) in 2012 and exchanged for the fee simple real estate of four hospitals as described below. The 2018 column includes $0.8 billion of loans advanced to Steward in 2016 and repaid in 2018 as part of sale leaseback conversion described below. |
Summary of Status on Current Development Projects | See table below for a status summary of our current development projects (in thousands): Property Commitment Costs Incurred as of December 31, 2020 Estimated Rent Commencement Date Ernest (Bakersfield, California) $ 47,929 $ 19,034 4Q 2021 Ernest (Stockton, California) 47,700 11,105 1Q 2022 $ 95,629 $ 30,139 |
Amortization Expense from Existing Lease Intangible Assets | We recorded amortization expense related to intangible lease assets of $42.4 million, $21.5 million, and $17.6 million in 2020, 2019, and 2018, respectively, and expect to recognize amortization expense from existing lease intangible assets as follows (amounts in thousands): For the Year Ended December 31: 2021 $ 44,286 2022 44,272 2023 44,206 2024 44,173 2025 44,025 |
Summary of Total Future Minimum Lease Payments to be Received | The following table summarizes total future minimum lease payments to be received, excluding operating expense reimbursements, from tenants under noncancelable leases as of December 31, 2020 (amounts in thousands): Total Under Operating Leases Total Under Financing Leases Total 2021 $ 858,067 $ 160,925 $ 1,018,992 2022 875,350 164,144 1,039,494 2023 890,761 167,427 1,058,188 2024 905,176 170,775 1,075,951 2025 919,984 174,191 1,094,175 Thereafter 22,102,425 4,593,755 26,696,180 $ 26,551,763 $ 5,431,217 $ 31,982,980 |
Components of Total Investment in Financing Leases | The components of our total investment in financing leases consisted of the following (in thousands): As of December 31, 2020 As of December 31, 2019 Minimum lease payments receivable $ 1,228,966 $ 1,884,921 Estimated residual values 203,818 394,195 Less: Unearned income and allowance for credit loss (969,061 ) (1,618,252 ) Net investment in direct financing leases 463,723 660,864 Other financing leases (net of allowance for credit loss) 1,547,199 1,399,438 Total investment in financing leases $ 2,010,922 $ 2,060,302 |
Summary of Loans (Net of Allowance for Credit Loss) | The following is a summary of our loans (net of allowance for credit loss in 2020) ($ amounts in thousands): As of December 31, 2020 As of December 31, 2019 Balance Weighted-Average Interest Rate Balance Weighted-Average Interest Rate Mortgage loans $ 248,080 8.5 % $ 1,275,022 9.0 % Acquisition loans 338,273 7.6 % 123,893 7.7 % Other loans 520,095 5.8 % 420,939 5.7 % $ 1,106,448 $ 1,819,854 |
2018 [Member] | |
Real Estate [Line Items] | |
Summary of Operations for Disposed Assets | The following represents the operating results (excluding the St. Joseph sale in March 2018) of the properties sold in 2018 for the periods presented (in thousands): For the Year Ended 2018 Revenues $ 88,838 Real estate depreciation and amortization (15,849 ) Property-related expenses (531 ) Other(1) 709,717 Income from real estate dispositions, net $ 782,175 (1) Includes approximately $720 million of gains on sale for the twelve months ended December 31, 2018. |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Debt Disclosure [Abstract] | |
Summary of Debt | The following is a summary of debt (dollar amounts in thousands): As of December 31, 2020 As of December 31, 2019 Revolving credit facility(A) $ 165,407 $ — Term loan 200,000 200,000 British pound sterling term loan(B) 956,900 — Australian term loan facility(B) 923,280 842,520 4.000% Senior Unsecured Notes due 2022(B) 610,800 560,650 2.550% Senior Unsecured Notes due 2023(B) 546,800 530,280 5.500% Senior Unsecured Notes due 2024 — 300,000 6.375% Senior Unsecured Notes due 2024 — 500,000 3.325% Senior Unsecured Notes due 2025(B) 610,800 560,650 5.250% Senior Unsecured Notes due 2026 500,000 500,000 5.000% Senior Unsecured Notes due 2027 1,400,000 1,400,000 3.692% Senior Unsecured Notes due 2028(B) 820,200 795,420 4.625% Senior Unsecured Notes due 2029 900,000 900,000 3.500% Senior Unsecured Notes due 2031 1,300,000 — $ 8,934,187 $ 7,089,520 Debt issue costs and discount, net (68,729 ) (65,841 ) $ 8,865,458 $ 7,023,679 (A) Includes £121 million of GBP-denominated borrowings that reflect the exchange rate at December 31, 2020. (B) Non-U.S. dollar denominated debt that reflects the exchange rate at period end. |
Principal Payments Due on Debt | As of December 31, 2020, principal payments due on our debt (which exclude the effects of any discounts, premiums, or debt issue costs recorded) are as follows ($ amounts in thousands): 2021 $ 165,407 2022 810,800 2023 546,800 2024 923,280 2025 1,567,700 Thereafter 4,920,200 Total $ 8,934,187 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income Tax Benefit (Expense) | From our TRS and our foreign operations, income tax benefit (expense) were as follows (in thousands): For the Years Ended December 31, 2020 2019 2018 Current income tax benefit (expense): Domestic $ 63 $ 61 $ 125 Foreign (10,203 ) (1,669 ) (3,294 ) (10,140 ) (1,608 ) (3,169 ) Deferred income tax benefit (expense): Domestic (10,680 ) 5,490 3,713 Foreign (10,236 ) (1,261 ) (1,471 ) (20,916 ) 4,229 2,242 Income tax benefit (expense) $ (31,056 ) $ 2,621 $ (927 ) |
Summary of Reconciliation of Income Tax Benefit (Expense) from the Statutory Income Tax Rate to the Effective Tax Rate Based on Income before Income Taxes | A reconciliation of income tax benefit (expense) from the statutory income tax rate to the effective tax rate based on income before income taxes for the years ended December 31, 2020, 2019, and 2018 is as follows (in thousands): For the Years Ended December 31, 2020 2019 2018 Income before income tax $ 463,328 $ 373,780 $ 1,019,404 Income tax at the U.S. statutory federal rate (21% in 2020, 2019 and 2018) (97,299 ) (78,494 ) (214,075 ) Decrease (increase) in income tax resulting from: Foreign rate differential 2,160 438 2,643 State income taxes, net of federal benefit 970 1,621 (379 ) U.S. earnings not subject to federal income tax 82,921 85,495 208,472 Equity investments 380 1,091 46 Change in valuation allowance (8,514 ) (7,911 ) 2,668 Statutory tax rate change (9,471 ) — — Other items, net (2,203 ) 381 (302 ) Total income tax benefit (expense) $ (31,056 ) $ 2,621 $ (927 ) |
Schedule of Deferred Tax Assets and Liabilities | At December 31, 2020 and 2019, components of our deferred tax assets and liabilities were as follows (in thousands): 2020 2019 Deferred tax assets: Operating loss and interest deduction carry forwards $ 150,001 $ 28,684 Interest rate swap 9,150 843 Other 6,973 868 Total deferred tax assets 166,124 30,395 Valuation allowance (36,977 ) (11,355 ) Total net deferred tax assets $ 129,147 $ 19,040 Deferred tax liabilities: Property and equipment $ (211,018 ) $ (7,324 ) Net unbilled revenue (14,776 ) (1,449 ) Other (4,010 ) (737 ) Total deferred tax liabilities (229,804 ) (9,510 ) Net deferred tax asset (liability) $ (100,657 ) $ 9,530 |
Schedule of Net NOL and Other Tax Attribute Carryforwards | At December 31, 2020, we had net NOL and other tax attribute carryforwards as follows (in thousands): U.S. Foreign Gross NOL carryforwards $ 159,895 $ 528,567 Tax-effected NOL carryforwards $ 16,298 $ 133,703 Valuation allowance (6,193 ) (30,784 ) Net deferred tax asset - NOL carryforwards $ 10,105 $ 102,919 Expiration periods 2029-indefinite indefinite |
Schedule of Per Share Distributions to Stockholders | A schedule of per share distributions we paid and reported to our stockholders is set forth in the following: For the Years Ended December 31, 2020 2019 2018 Common share distribution $ 1.070000 $ 1.010000 $ 0.990000 Ordinary income 0.603050 0.701910 0.438792 Capital gains(1) — 0.275040 0.551208 Unrecaptured Sec. 1250 gain — 0.041160 0.132280 Section 199A Dividends 0.603050 0.701910 0.438792 Return of capital 0.466950 0.033050 — (1)Capital gains include unrecaptured Sec. 1250 gains. |
Earnings Per Share_Unit (Tables
Earnings Per Share/Unit (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |
Calculation of Earnings Per Share | Medical Properties Trust, Inc. Our earnings per share were calculated based on the following (amounts in thousands): For the Years Ended December 31, 2020 2019 2018 Numerator: Net income $ 432,272 $ 376,401 $ 1,018,477 Non-controlling interests’ share in earnings (822 ) (1,717 ) (1,792 ) Participating securities’ share in earnings (2,105 ) (2,308 ) (3,685 ) Net income, less participating securities’ share in earnings $ 429,345 $ 372,376 $ 1,013,000 Denominator: Basic weighted-average common shares 529,239 427,075 365,364 Dilutive potential common shares 1,222 1,224 907 Diluted weighted-average common shares 530,461 428,299 366,271 MPT Operating Partnership, L.P. Our earnings per unit were calculated based on the following (amounts in thousands): For the Years Ended December 31, 2020 2019 2018 Numerator: Net income $ 432,272 $ 376,401 $ 1,018,477 Non-controlling interests’ share in earnings (822 ) (1,717 ) (1,792 ) Participating securities’ share in earnings (2,105 ) (2,308 ) (3,685 ) Net income, less participating securities’ share in earnings $ 429,345 $ 372,376 $ 1,013,000 Denominator: Basic weighted-average units 529,239 427,075 365,364 Dilutive potential units 1,222 1,224 907 Diluted weighted-average units 530,461 428,299 366,271 |
Stock Awards (Tables)
Stock Awards (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Stock-based Award Activity | The following summarizes stock-based award activity in 2020 and 2019 (which includes awards granted in 2020, 2019, 2018, and any applicable prior years), respectively: For the Year Ended December 31, 2020: Vesting Based on Service Vesting Based on Market/Performance Conditions Shares Weighted-Average Value at Award Date Shares Weighted-Average Value at Award Date Nonvested awards at beginning of the year 1,122,440 $ 17.11 5,481,155 $ 11.66 Awarded 635,855 $ 19.65 1,800,898 $ 19.42 Vested (699,215 ) $ 16.80 (2,193,906 ) $ 11.35 Forfeited (2,026 ) $ 18.40 (1,164 ) $ 18.22 Nonvested awards at end of year 1,057,054 $ 18.79 5,086,983 $ 14.41 For the Year Ended December 31, 2019: Vesting Based on Service Vesting Based on Market/Performance Conditions Shares Weighted-Average Value at Award Date Shares Weighted-Average Value at Award Date Nonvested awards at beginning of the year 923,848 $ 14.29 4,133,435 $ 9.21 Awarded 681,378 $ 19.24 2,438,292 $ 15.25 Vested (478,104 ) $ 14.73 (1,051,637 ) $ 10.43 Forfeited (4,682 ) $ 13.44 (38,935 ) $ 10.13 Nonvested awards at end of year 1,122,440 $ 17.11 5,481,155 $ 11.66 |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Summary of Fair Value Information of Financial Instruments | The following table summarizes fair value estimates for our financial instruments (in thousands): December 31, 2020 December 31, 2019 Asset (Liability) Book Value Fair Value Book Value Fair Value Interest and rent receivables $ 46,208 $ 45,381 $ 31,357 $ 30,472 Loans(1) 751,341 756,608 1,704,854 1,742,153 Debt, net (8,865,458 ) (9,226,564 ) (7,023,679 ) (7,331,816 ) (1) Excludes the $205 million acquisition loan to the new international joint venture and investment in the real estate of three hospitals in Colombia discussed in Note 3 as they are recorded at fair value and discussed below |
Equity Interest in Related Party and Related Loans Measured at Fair Value on Recurring Basis | At December 31, 2020 and 2019, the amounts recorded under the fair value option method were as follows (in thousands): As of December 31, 2020 As of December 31, 2019 Asset (Liability) Fair Value Original Cost Fair Value Original Cost Asset Type Classification Mortgage loans $ 136,332 $ 136,332 $ 115,000 $ 115,000 Mortgage loans Equity investment and other loans 218,775 218,775 — — Equity investments/Other loans |
Leases (Lessee) (Tables)
Leases (Lessee) (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Leases [Abstract] | |
Summary of Lease Expense | The following is a summary of our lease expense (in thousands): Income Statement For the Years Ended December 31, Classification 2020 2019 Operating lease cost (1) (2) $ 9,910 $ 9,262 Finance lease cost: Amortization of right-of-use assets Real estate depreciation and amortization 51 51 Interest on lease liabilities Interest 128 117 Sublease income Other (2,614 ) (3,478 ) Total lease cost $ 7,475 $ 5,952 (1) Includes short-term leases. (2) $6.0 million and $5.8 million included in “Property-related”, with the remainder reflected in the “General and administrative” line of our consolidated statements of net income for 2020 and 2019, respectively. |
Schedule Of Future Minimum Rental Payments For Leases Sublease Receivable And Net Payments Table Text Block | Fixed minimum payments due over the remaining lease term under non-cancelable leases of more than one year and amounts to be received in the future from non-cancelable subleases over their remaining lease term at December 31, 2020 are as follows (amounts in thousands): Operating Leases Finance Leases Amounts To Be Received From Subleases Net Payments 2021 $ 7,186 $ 126 $ (2,952 ) $ 4,360 2022 7,384 128 (3,238 ) 4,274 2023 7,451 129 (3,240 ) 4,340 2024 6,557 130 (3,259 ) 3,428 2025 5,660 131 (3,303 ) 2,488 Thereafter 257,730 4,783 (78,494 ) 184,019 (1) Total undiscounted minimum lease payments $ 291,968 $ 5,427 $ (94,486 ) $ 202,909 Less: interest (201,962 ) (3,492 ) Present value of lease liabilities $ 90,006 $ 1,935 (1) Reflects certain ground leases, in which we are the lessee, that have longer initial fixed terms than our existing sublease to our tenants. However, we would expect to either renew the related sublease, enter into a lease with a new tenant, or early terminate the ground lease to reduce or avoid any significant impact from such ground leases. |
Summary of Supplemental Balance Sheet Information | Supplemental balance sheet information is as follows (in thousands, except lease terms and discount rate): Balance Sheet Classification December 31, 2020 December 31, 2019 Right of use assets: Operating leases - real estate Land $ 73,373 $ 59,492 Finance leases - real estate Land 1,836 1,888 Total real estate right of use assets $ 75,209 $ 61,380 Operating leases - corporate Other assets 8,234 9,866 Total right of use assets $ 83,443 $ 71,246 Lease liabilities: Operating leases Obligations to tenants and other lease liabilities $ 90,006 $ 76,353 Financing leases Obligations to tenants and other lease liabilities 1,935 1,932 Total lease liabilities $ 91,941 $ 78,285 Weighted-average remaining lease term: Operating leases 41.1 31.9 Finance leases 35.9 36.9 Weighted-average discount rate: Operating leases 6.4 % 6.3 % Finance leases 6.6 % 6.6 % |
Summary of Supplemental Cash Flow Information | The following is supplemental cash flow information (in thousands): For the Years Ended December 31, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 6,080 $ 5,937 Operating cash flows from finance leases 125 114 Financing cash flows from finance leases — 10 Non-cash activities - Right-of-use assets obtained in exchange for lease obligations: Operating leases 13,832 1,818 Finance leases — — |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | |
Summary of Other Assets | The following is a summary of our other assets on our consolidated balance sheets (in thousands): At December 31, 2020 2019 Debt issue costs, net(1) $ 192 $ 2,492 Other corporate assets 167,929 206,765 Prepaids and other assets 87,948 90,342 Total other assets $ 256,069 $ 299,599 (1) |
Organization - Additional Infor
Organization - Additional Information (Detail) | Dec. 31, 2020FacilityStateCountry |
Business Acquisition [Line Items] | |
Number of facilities | Facility | 392 |
Number of states | State | 33 |
Europe [Member] | |
Business Acquisition [Line Items] | |
Number of countries | 6 |
South America [Member] | |
Business Acquisition [Line Items] | |
Number of countries | 1 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Jan. 01, 2020 | |
Significant Accounting Policies [Line Items] | ||||
Threshold ownership percentage for inter company balances and transactions elimination | 100.00% | |||
Loans and/or equity investments in variable interest entities | $ 230 | |||
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] | true | true | ||
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2020 | Jan. 1, 2019 | ||
Accounting Standards Update [Extensible List] | us-gaap:AccountingStandardsUpdate201613Member | us-gaap:AccountingStandardsUpdate201602Member | ||
Expected lease-up periods for estimating lost rentals, in months | 6 months | |||
Percentage of ordinary taxable income to be distributed for real estate investment trust qualification | 90.00% | 90.00% | 90.00% | |
Number of years of federal income tax at corporate rates on failure to qualify as REIT | 4 years | |||
Time-Based Awards [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Stock award service period in years | 3 years | |||
Market Conditions Based Awards [Member] | Minimum [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Stock award service period in years | 3 years | |||
Market Conditions Based Awards [Member] | Maximum [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Stock award service period in years | 5 years | |||
ASU 2016-13 [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Credit loss reserve expected | $ 8.4 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Estimated Useful Lives of Related Real Estate and Other Assets (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Buildings and improvements [Member] | |
Property, Plant and Equipment [Line Items] | |
Weighted average useful lives of related real estate and other assets | 39 years |
Lease Intangibles [Member] | |
Property, Plant and Equipment [Line Items] | |
Weighted average useful lives of related real estate and other assets | 26 years 1 month 6 days |
Leasehold improvements [Member] | |
Property, Plant and Equipment [Line Items] | |
Weighted average useful lives of related real estate and other assets | 17 years |
Furniture, equipment and other [Member] | |
Property, Plant and Equipment [Line Items] | |
Weighted average useful lives of related real estate and other assets | 9 years 9 months 18 days |
Real Estate Activities - Net As
Real Estate Activities - Net Assets Acquired (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Business Acquisition [Line Items] | ||||
Total assets acquired | $ 4,249,180 | $ 4,565,594 | $ 1,430,995 | |
Liabilities assumed | (140,866) | (2,637) | ||
Loans repaid | [1] | (834,743) | (764,447) | |
Total net assets acquired | 3,414,437 | 4,565,594 | 666,548 | |
Land and Land Improvements [Member] | ||||
Business Acquisition [Line Items] | ||||
Total assets acquired | 365,281 | 400,539 | 71,880 | |
Building [Member] | ||||
Business Acquisition [Line Items] | ||||
Total assets acquired | 2,547,313 | 1,951,066 | 686,739 | |
Intangible Lease Assets - Subject to Amortization [Member] | ||||
Business Acquisition [Line Items] | ||||
Total assets acquired | 642,699 | 227,468 | 90,651 | |
Mortgage Loans [Member] | ||||
Business Acquisition [Line Items] | ||||
Total assets acquired | 176,840 | 51,267 | ||
Investments in Financing Leases [Member] | ||||
Business Acquisition [Line Items] | ||||
Total assets acquired | 114,797 | 1,386,797 | ||
Equity Investments [Member] | ||||
Business Acquisition [Line Items] | ||||
Total assets acquired | 233,593 | 415,836 | 245,267 | |
Other Loans And Assets | ||||
Business Acquisition [Line Items] | ||||
Total assets acquired | $ 309,523 | $ 135,258 | $ 336,458 | |
[1] | The 2020 column includes approximately $750 million of loans advanced to Steward in 2017 and exchanged for the fee simple real estate of two hospitals as described below, as well as approximately $100 million of loans advanced to Ernest Health, Inc. (“Ernest”) in 2012 and exchanged for the fee simple real estate of four hospitals as described below. The 2018 column includes $0.8 billion of loans advanced to Steward in 2016 and repaid in 2018 as part of sale leaseback conversion described below. |
Real Estate Activities - Net _2
Real Estate Activities - Net Assets Acquired (Parenthetical) (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Business Acquisition [Line Items] | ||||
Weighted-average useful life of acquired intangible lease assets (in years) | 21 years 3 months 18 days | |||
Loans repaid | [1] | $ 834,743 | $ 764,447 | |
Steward [Member] | ||||
Business Acquisition [Line Items] | ||||
Loans repaid | 750,000 | $ 800,000 | ||
Ernest [Member] | ||||
Business Acquisition [Line Items] | ||||
Loans repaid | $ 100,000 | |||
Intangible Lease Assets - Subject to Amortization [Member] | ||||
Business Acquisition [Line Items] | ||||
Weighted-average useful life of acquired intangible lease assets (in years) | 27 years 6 months | 19 years 1 month 6 days | 27 years 10 months 24 days | |
[1] | The 2020 column includes approximately $750 million of loans advanced to Steward in 2017 and exchanged for the fee simple real estate of two hospitals as described below, as well as approximately $100 million of loans advanced to Ernest Health, Inc. (“Ernest”) in 2012 and exchanged for the fee simple real estate of four hospitals as described below. The 2018 column includes $0.8 billion of loans advanced to Steward in 2016 and repaid in 2018 as part of sale leaseback conversion described below. |
Real Estate Activities - 2020 A
Real Estate Activities - 2020 Activity - Additional Information (Detail) $ in Thousands, € in Millions, £ in Millions, SFr in Millions | Dec. 29, 2020CHF (SFr) | Dec. 18, 2020GBP (£)Hospital | Dec. 17, 2020USD ($)Hospital | Nov. 25, 2020GBP (£) | Nov. 17, 2020USD ($)Hospital | Aug. 13, 2020USD ($) | Aug. 07, 2020GBP (£)Hospital | Aug. 05, 2020EUR (€) | Jul. 08, 2020USD ($)Hospital | Jun. 16, 2020RenewalOption | Jan. 08, 2020GBP (£)Hospital | Dec. 17, 2019USD ($)Hospital | Dec. 31, 2020USD ($)FacilityHospital | Jun. 24, 2020CHF (SFr) | May 13, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Business Acquisition [Line Items] | |||||||||||||||||
Term of lease extension, years | 5 years | ||||||||||||||||
Acquisition loan | $ | $ 4,249,180 | $ 4,565,594 | $ 1,430,995 | ||||||||||||||
Term of lease | 15 years | ||||||||||||||||
Joint Venture Partner [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Ownership interest | 49.00% | ||||||||||||||||
Joint Venture Partner [Member] | Other Loans [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Acquisition loan | $ | $ 205,000 | ||||||||||||||||
Steward [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Initial fixed term of lease | 2031-10 | ||||||||||||||||
Infracore SA [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Purchase price of acquisition | SFr | SFr 206.5 | ||||||||||||||||
Secured loan | SFr | SFr 45 | ||||||||||||||||
South Carolina [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Purchase price of acquisition | $ | $ 17,000 | ||||||||||||||||
Net investment in lease | $ | $ 115,000 | ||||||||||||||||
Investment in number of facilities | Facility | 5 | ||||||||||||||||
Initial term | 2037-12 | ||||||||||||||||
Utah [Member] | Steward [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Number of facilities acquired | 2 | ||||||||||||||||
Purchase price of acquisition | $ | $ 200,000 | ||||||||||||||||
Utah [Member] | Steward [Member] | Davis and Jordan Valley Facilities [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Net investment in lease | $ | $ 950,000 | ||||||||||||||||
Acute Care Hospital [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Number of facilities acquired | 10 | 2 | |||||||||||||||
Purchase price of acquisition | $ | $ 700,000 | ||||||||||||||||
Acute Care Hospital [Member] | United Kingdom [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Purchase price of acquisition | £ | £ 50 | ||||||||||||||||
Lessor operating lease ground lease term | 999 years | ||||||||||||||||
Acute Care Hospital [Member] | United Kingdom [Member] | BMI [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Number of facilities acquired | 30 | ||||||||||||||||
Purchase price of acquisition | £ | £ 1,500 | ||||||||||||||||
Unearned rent revenue | £ | £ 27.6 | ||||||||||||||||
Number of leased properties | 52 | ||||||||||||||||
Initial fixed term of lease | 2050 | ||||||||||||||||
Existence of option to extend | true | false | |||||||||||||||
Number of lease extension options | RenewalOption | 2 | ||||||||||||||||
Term of lease extension, years | 5 years | ||||||||||||||||
Lease extension options, description | two five-year renewal options | ||||||||||||||||
Acute Care Hospital [Member] | South Carolina [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Number of facilities acquired | 1 | ||||||||||||||||
Acute Care Hospital [Member] | Colombia [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Number of facilities acquired | 3 | ||||||||||||||||
Purchase price of acquisition | $ | $ 135,000 | ||||||||||||||||
Acute Care Hospital [Member] | California [Member] | Prime Healthcare Services [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Purchase price of acquisition | $ | $ 300,000 | ||||||||||||||||
Initial fixed term of lease | 2035-08 | ||||||||||||||||
Acute Care Hospital [Member] | Darlington, United Kingdom [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Number of facilities acquired | 1 | ||||||||||||||||
Purchase price of acquisition | £ | £ 29.4 | ||||||||||||||||
Inpatient Rehabilitation Hospital [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Purchase price of acquisition | $ | $ 58,000 | ||||||||||||||||
Inpatient Rehabilitation Hospital [Member] | South Carolina [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Number of facilities acquired | 3 | ||||||||||||||||
Inpatient Rehabilitation Hospital [Member] | Dahlen, Germany [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Number of facilities acquired | 3 | ||||||||||||||||
Purchase price of acquisition | € | € 12.5 | ||||||||||||||||
Inpatient Rehabilitation Hospital [Member] | Texas [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Number of facilities acquired | 1 | ||||||||||||||||
Inpatient Rehabilitation Hospital [Member] | Indiana [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Number of facilities acquired | 1 | ||||||||||||||||
Private Acute Care Hospital [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Number of facilities acquired | 1 | ||||||||||||||||
Private Acute Care Hospital [Member] | Reading, United Kingdom [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Purchase price of acquisition | £ | £ 85 | ||||||||||||||||
Inpatient Rehabilitation Hospital, Acute Care Hospital and Private Acute Care Hospital [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Purchase price of acquisition | $ | $ 300,000 |
Real Estate Activities - 2019 A
Real Estate Activities - 2019 Activity - Additional Information (Detail) € in Millions, £ in Millions, SFr in Millions, $ in Millions | Dec. 29, 2020CHF (SFr) | Dec. 17, 2020USD ($)Hospital | Nov. 25, 2020GBP (£) | Dec. 17, 2019USD ($)HospitalRenewalOptionLease | Dec. 03, 2019EUR (€)Hospital | Nov. 28, 2019EUR (€) | Aug. 30, 2019USD ($)RenewalOption | Aug. 23, 2019USD ($)HospitalRenewalOptionHealth_Center | Aug. 16, 2019GBP (£)Hospital | Jun. 28, 2019CHF (SFr) | Jun. 10, 2019USD ($)HospitalRenewalOption | Jun. 06, 2019AUD ($)Hospital | May 27, 2019CHF (SFr)_Campus | Apr. 12, 2019Hospital | Aug. 28, 2018EUR (€)Hospital | Dec. 31, 2020USD ($)Hospital | Dec. 31, 2019USD ($)Hospital | Aug. 31, 2018 |
Business Acquisition [Line Items] | ||||||||||||||||||
Term of lease | 15 years | |||||||||||||||||
Term of lease extension, years | 5 years | |||||||||||||||||
Mortgage loan balance | $ | $ 1,106,448,000 | $ 1,819,854,000 | ||||||||||||||||
Weighted average remaining lease term | 41 years 1 month 6 days | 31 years 10 months 24 days | ||||||||||||||||
Other Acquisitions [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Purchase price of acquisition | $ | $ 135,000,000 | |||||||||||||||||
Ramsay Health Care [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Lease term ending period | 2037 | |||||||||||||||||
Infracore SA [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Purchase price of acquisition | SFr | SFr 206.5 | |||||||||||||||||
Swiss Medical Network [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Weighted average remaining lease term | 23 years | |||||||||||||||||
Aevis Victoria SA [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Purchase price of acquisition | SFr | SFr 47 | |||||||||||||||||
Ownership interest in joint venture under the cost method | 4.90% | |||||||||||||||||
Vibra [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Purchase price of acquisition | $ | $ 254,000,000 | |||||||||||||||||
Term of lease | 20 years | |||||||||||||||||
Number of lease extension options | RenewalOption | 3 | |||||||||||||||||
Lease extension options, description | three five-year extension options | |||||||||||||||||
Existence of option to extend | true | |||||||||||||||||
Term of lease extension, years | 5 years | |||||||||||||||||
Switzerland [Member] | Infracore SA [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Purchase price of acquisition | SFr | SFr 236.6 | |||||||||||||||||
Spain [Member] | Spanish PropCo. [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Ownership interest in joint venture under the equity method | 45.00% | |||||||||||||||||
Prospect [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Purchase price of acquisition | $ | $ 1,550,000,000 | |||||||||||||||||
Term of lease | 15 years | |||||||||||||||||
Number of lease extension options | RenewalOption | 3 | |||||||||||||||||
Existence of option to extend | true | |||||||||||||||||
Term loan | $ | $ 112,900,000 | |||||||||||||||||
Additional number of businesses acquired | 2 | |||||||||||||||||
Future purchase price adjustment | $ | $ 250,000,000 | |||||||||||||||||
Performance thresholds achievement period | 3 years | |||||||||||||||||
Prospect [Member] | Investment in Financing Leases [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Purchase price of acquisition | $ | $ 1,400,000,000 | |||||||||||||||||
Secure Income REIT [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Purchase price of acquisition | £ | £ 347 | |||||||||||||||||
Secure Income REIT [Member] | United Kingdom [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Number of private hospitals acquired | 8 | |||||||||||||||||
Acute Care Hospital [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Number of facilities acquired | 10 | 2 | ||||||||||||||||
Purchase price of acquisition | $ | $ 700,000,000 | |||||||||||||||||
Acute Care Hospital [Member] | Other Acquisitions [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Number of facilities acquired | 3 | |||||||||||||||||
Acute Care Hospital [Member] | United Kingdom [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Purchase price of acquisition | £ | £ 50 | |||||||||||||||||
Acute Care Hospital [Member] | Spain [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Number of facilities acquired | 2 | |||||||||||||||||
Purchase price of acquisition | € | € 117.3 | |||||||||||||||||
Acute Care Hospital [Member] | Portugal [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Purchase price of acquisition | € | € 28.2 | |||||||||||||||||
Acute Care Hospital [Member] | Texas [Member] | Steward [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Number of facilities acquired | 1 | |||||||||||||||||
Acute Care Hospital [Member] | Germany [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Ownership interest in joint venture under the equity method | 50.00% | |||||||||||||||||
Acute Care Hospital [Member] | Poole, England [Member] | Circle [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Number of facilities acquired | 1 | |||||||||||||||||
Acute Care Hospital [Member] | California [Member] | Halsen Healthcare [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Number of facilities acquired | 1 | |||||||||||||||||
Acute Care Hospital [Member] | Prospect [Member] | Mortgage Loans [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Mortgage loan balance | $ | $ 51,300,000 | |||||||||||||||||
Life Point [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Number of master leases | Lease | 1 | |||||||||||||||||
Term of lease | 20 years | |||||||||||||||||
Number of lease extension options | RenewalOption | 2 | |||||||||||||||||
Lease extension options, description | two five-year extension options | |||||||||||||||||
Existence of option to extend | true | |||||||||||||||||
Term of lease extension, years | 5 years | |||||||||||||||||
Acute Care Campus [Member] | Switzerland [Member] | Infracore SA [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Number of facilities acquired | _Campus | 13 | |||||||||||||||||
Acute Care Campus [Member] | Prospect [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Number of facilities acquired | 14 | |||||||||||||||||
Acute Care Campus [Member] | Prospect [Member] | Investment in Financing Leases [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Number of facilities acquired | 11 | |||||||||||||||||
Behavioral Health Care Facility [Member] | Prospect [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Number of facilities acquired | Health_Center | 2 | |||||||||||||||||
Behavioral Health Care Facility [Member] | Prospect [Member] | Investment in Financing Leases [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Number of facilities acquired | Health_Center | 2 | |||||||||||||||||
Hospital [Member] | Healthscope [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Term of lease | 20 years | |||||||||||||||||
Hospital [Member] | Australia [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Number of facilities acquired | 11 | |||||||||||||||||
Purchase price of acquisition | $ | $ 1,200 | |||||||||||||||||
Stamp duties and registration fees | $ | $ 66.6 | |||||||||||||||||
Additional Properties [Member] | Switzerland [Member] | Infracore SA [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Number of facilities acquired | _Campus | 2 | |||||||||||||||||
HM Hospital [Member] | Spain [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Term of lease | 25 years | |||||||||||||||||
Jose de Mello [Member] | Portugal [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Term of lease | 17 years | |||||||||||||||||
Inpatient Rehabilitation Hospital [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Purchase price of acquisition | $ | $ 58,000,000 | |||||||||||||||||
Inpatient Rehabilitation Hospital [Member] | Texas [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Number of facilities acquired | 1 | |||||||||||||||||
Inpatient Rehabilitation Hospital [Member] | Germany [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Number of facilities acquired | 3 | |||||||||||||||||
Purchase price of acquisition | € | € 17.3 | |||||||||||||||||
Inpatient Rehabilitation Hospital [Member] | Germany [Member] | Other Acquisitions [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Number of facilities acquired | 1 | |||||||||||||||||
Community Hospital [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Number of facilities acquired | 7 | |||||||||||||||||
Number of lease extension options | RenewalOption | 2 | |||||||||||||||||
Lease extension options, description | two five-year extension options | |||||||||||||||||
Existence of option to extend | true | |||||||||||||||||
Term of lease extension, years | 5 years | |||||||||||||||||
Leases fixed escalations | 5 years | |||||||||||||||||
Community Hospital [Member] | Saint Luke's Health System [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Term of lease | 14 years | |||||||||||||||||
Community Hospital [Member] | Kansas [Member] | ||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||
Number of facilities acquired | 7 | |||||||||||||||||
Purchase price of acquisition | $ | $ 145,400,000 |
Real Estate Activities - 2018 A
Real Estate Activities - 2018 Activity - Additional Information (Detail) $ in Thousands, € in Millions | Dec. 17, 2020USD ($)Hospital | Dec. 17, 2019USD ($)Hospital | Aug. 31, 2018EUR (€) | Aug. 28, 2018EUR (€)Hospital | Aug. 31, 2018USD ($)Hospital | Aug. 31, 2018EUR (€)Hospital | Mar. 31, 2018USD ($) | Oct. 31, 2016USD ($) | Dec. 31, 2020USD ($)Hospital | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($)Hospital |
Business Acquisition [Line Items] | |||||||||||
Ownership interest in joint venture under the equity method value included in other assets | $ 1,123,623 | $ 926,990 | |||||||||
Gain on sale of real estate | $ (2,800) | ||||||||||
Term of lease | 15 years | ||||||||||
Mortgage financing | $ 193,590 | 61,712 | $ 50,783 | ||||||||
Acute Care Hospital [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Number of facilities acquired | Hospital | 10 | 2 | |||||||||
Gain on sale of real estate | $ 41,600 | ||||||||||
Purchase price of acquisition | $ 700,000 | ||||||||||
Inpatient Rehabilitation Hospital [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Purchase price of acquisition | $ 58,000 | ||||||||||
General Acute Care Hospital and Healthcare System [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Number of facilities acquired | Hospital | 5 | ||||||||||
Mortgage financing | $ 764,400 | $ 764,400 | |||||||||
Germany [Member] | Acute Care Hospital [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Ownership interest in joint venture under the equity method | 50.00% | 50.00% | |||||||||
Ownership interest in joint venture under the equity method value included in other assets | € | € 210 | € 210 | |||||||||
Shareholder loan to joint venture | € | 290 | 290 | |||||||||
Gain on sale of real estate | € | 500 | ||||||||||
Germany [Member] | Rehabilitation Hospital with Covenant Health System [Member] | MEDIAN [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Term of lease | 27 years | ||||||||||
Germany [Member] | Inpatient Rehabilitation Hospital [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Number of facilities acquired | Hospital | 3 | ||||||||||
Purchase price of acquisition | € | € 17.3 | ||||||||||
Germany [Member] | Fair Value [Member] | Acute Care Hospital [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Aggregate fair value of ownership interest | € | € 1,635 | € 1,635 | |||||||||
Pasco, Washington [Member] | Acute Care Hospital [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Purchase price of acquisition | $ 17,500 | ||||||||||
Massachusetts [Member] | General Acute Care Hospital and Healthcare System [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Number of facilities acquired | Hospital | 4 | ||||||||||
Texas [Member] | Inpatient Rehabilitation Hospital [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Number of facilities acquired | Hospital | 1 | ||||||||||
Texas [Member] | General Acute Care Hospital and Healthcare System [Member] | Steward [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Number of facilities acquired | Hospital | 1 | ||||||||||
Primotop Holdings S.a.r.l. [Member] | Germany [Member] | Acute Care Hospital [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Ownership interest in joint venture under the equity method | 50.00% | 50.00% | |||||||||
Number of facilities acquired | Hospital | 71 | 71 | |||||||||
Proceeds from joint venture | € | € 1,140 | ||||||||||
Gain on sale of real estate | € | € 500 |
Real Estate Activities - Develo
Real Estate Activities - Development Activities - Additional Information (Detail) $ in Thousands | Dec. 17, 2019Hospital | Oct. 25, 2019USD ($) | Jun. 30, 2020Hospital | Dec. 31, 2020USD ($)Hospital | Dec. 31, 2018USD ($) | Nov. 23, 2020USD ($) | May 15, 2020USD ($) |
Business Acquisition [Line Items] | |||||||
Expected commence rent | $ | $ 95,629 | ||||||
Acute Care Hospital [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Number of facilities acquired | Hospital | 10 | 2 | |||||
Behavioral Hospital [Member] | Houston, Texas [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Estimated total development cost | $ | $ 27,500 | ||||||
Development Activities [Member] | Ernest [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Expected commence rent | $ | $ 47,700 | $ 47,900 | |||||
Estimated total development cost | $ | $ 25,500 | ||||||
Initial fixed term of lease | 2037 | ||||||
Development Activities [Member] | Circle [Member] | Birmingham, England [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Number of facilities acquired | Hospital | 2 | ||||||
Development Activities [Member] | Circle [Member] | Acute Care Hospital [Member] | Birmingham, England [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Number of facilities acquired | Hospital | 1 | ||||||
Development Activities [Member] | Circle [Member] | Inpatient Rehabilitation Hospital [Member] | Birmingham, England [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Number of facilities acquired | Hospital | 1 |
Real Estate Activities - Summar
Real Estate Activities - Summary of Status on Current Development Projects (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Business Acquisition [Line Items] | |
Commitment | $ 95,629 |
Costs Incurred as of December 31, 2020 | 30,139 |
Ernest [Member] | Bakersfield, California [Member] | |
Business Acquisition [Line Items] | |
Commitment | 47,929 |
Costs Incurred as of December 31, 2020 | $ 19,034 |
Estimated Rent Commencement Date | 4Q 2021 |
Ernest [Member] | Stockton, California [Member] | |
Business Acquisition [Line Items] | |
Commitment | $ 47,700 |
Costs Incurred as of December 31, 2020 | $ 11,105 |
Estimated Rent Commencement Date | 1Q 2022 |
Real Estate Activities - Dispos
Real Estate Activities - Disposals - Additional Information (Detail) $ in Thousands, € in Millions | Oct. 04, 2018USD ($) | Aug. 31, 2018USD ($)Hospital | Aug. 31, 2018EUR (€)Hospital | Jun. 04, 2018USD ($)Hospital | Mar. 01, 2018USD ($) | Aug. 31, 2018EUR (€) | Dec. 31, 2020USD ($)FacilityProperty | Dec. 31, 2019USD ($)Hospital | Dec. 31, 2018USD ($) |
Debt Instrument [Line Items] | |||||||||
Number of facilities sold | Facility | 9 | ||||||||
Number of properties sold | Property | 6 | ||||||||
Proceeds from sale of facilities | $ 94 | ||||||||
Gain (loss) on real estate dispositions | (2,800) | ||||||||
Loans, Balance | 1,106,448 | $ 1,819,854 | |||||||
Net proceeds from sale of real estate | $ 94,177 | 111,766 | $ 1,513,666 | ||||||
Houston, Texas [Member] | Steward Health Care System LLC [Member] | St. Joseph Medical Center [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Gain (loss) on real estate dispositions | $ 1,500 | ||||||||
Gain offset by non-cash charges | 1,700 | ||||||||
Net proceeds from sale of real estate | $ 148,000 | ||||||||
Ernest [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Proceeds from sale of facilities | $ 176,000 | ||||||||
North Cypress [Member] | Houston, Texas [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Proceeds from sale of facilities | $ 148,000 | ||||||||
Gain (loss) on real estate dispositions | 102,400 | ||||||||
Gain offset by non-cash charges | $ 2,500 | ||||||||
Vibra [Member] | California, Texas, and Oregon [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Proceeds from sale of facilities | $ 53,300 | ||||||||
Gain (loss) on real estate dispositions | 24,200 | ||||||||
Gain offset by non-cash charges | 5,100 | ||||||||
Vibra [Member] | California, Texas, and Oregon [Member] | Working Capital Loans [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Loans, Balance | 1,500 | ||||||||
Vibra [Member] | California, Texas, and Oregon [Member] | Mortgage Loans [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Loans, Balance | $ 18,300 | ||||||||
Acute Care Hospital [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Gain (loss) on real estate dispositions | $ 41,600 | ||||||||
Number of hospitals sold | Hospital | 5 | ||||||||
Acute Care Hospital [Member] | Germany [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Gain (loss) on real estate dispositions | € | € 500 | ||||||||
Acute Care Hospital [Member] | Primotop Holdings S.a.r.l. [Member] | Germany [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Number of properties sold | Hospital | 71 | 71 | |||||||
Proceeds from sale of facilities | € | € 1,635 | ||||||||
Gain (loss) on real estate dispositions | € | € 500 | ||||||||
General Acute Care Hospital and Healthcare System [Member] | North Cypress [Member] | Houston, Texas [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Number of properties sold | Hospital | 1 | 1 | |||||||
Long-term Acute Care Hospital [Member] | Vibra [Member] | California, Texas, and Oregon [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Number of properties sold | Hospital | 3 |
Real Estate Activities - Summ_2
Real Estate Activities - Summary of Operations for Disposed Assets (Detail) - 2018 [Member] $ in Thousands | 12 Months Ended | |
Dec. 31, 2018USD ($) | ||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||
Revenues | $ 88,838 | |
Real estate depreciation and amortization | (15,849) | |
Property-related expenses | (531) | |
Other | 709,717 | [1] |
Income from real estate dispositions, net | $ 782,175 | |
[1] | Includes approximately $720 million of gains on sale for the twelve months ended December 31, 2018. |
Real Estate Activities - Summ_3
Real Estate Activities - Summary of Operations for Disposed Assets (Parenthetical) (Detail) € in Millions, $ in Millions | 1 Months Ended | 12 Months Ended | ||
Aug. 31, 2018EUR (€) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||||
Gain on sale of real estate | $ (2.8) | |||
Acute Care Hospital [Member] | ||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||||
Gain on sale of real estate | $ 41.6 | |||
Germany [Member] | Acute Care Hospital [Member] | ||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||||
Gain on sale of real estate | € | € 500 | |||
2018 [Member] | Germany [Member] | Acute Care Hospital [Member] | ||||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||||
Gain on sale of real estate | $ 720 |
Real Estate Activities - Intang
Real Estate Activities - Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Business Combinations [Abstract] | |||
Intangible lease assets | $ 1,299,081 | $ 622,056 | |
Accumulated amortization, net | 1,200,000 | 556,700 | |
Amortization expense related to intangible lease assets | $ 42,400 | $ 21,500 | $ 17,600 |
Capitalized lease intangibles, weighted average life (in years) | 21 years 3 months 18 days |
Real Estate Activities - Amorti
Real Estate Activities - Amortization Expense from Existing Lease Intangible Assets (Detail) $ in Thousands | Dec. 31, 2020USD ($) |
Business Combinations [Abstract] | |
2021 | $ 44,286 |
2022 | 44,272 |
2023 | 44,206 |
2024 | 44,173 |
2025 | $ 44,025 |
Real Estate Activities - Leasin
Real Estate Activities - Leasing Operations (Lessor) - Additional Information (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2020USD ($)LeaseProperty | |
Lessor Lease Description [Line Items] | |
Term of lease | 15 years |
Lease renewal term | 5 years |
Annual rent escalations | 99.00% |
Number of properties | Property | 5 |
Carrying value of lease requiring residual value guarantee | $ | $ 229 |
Ernest [Member] | |
Lessor Lease Description [Line Items] | |
Number of direct financing leases | 13 |
Number of financing leases | 5 |
Prime Facilities [Member] | |
Lessor Lease Description [Line Items] | |
Number of direct financing leases | 5 |
Prospect [Member] | |
Lessor Lease Description [Line Items] | |
Number of financing leases | 13 |
Minimum [Member] | |
Lessor Lease Description [Line Items] | |
Fixed minimum annual escalations | 0.50% |
Maximum [Member] | |
Lessor Lease Description [Line Items] | |
Fixed minimum annual escalations | 3.00% |
Real Estate Activities - Summ_4
Real Estate Activities - Summary of Total Future Minimum Lease Payments to be Received (Detail) - Minimum [Member] $ in Thousands | Dec. 31, 2020USD ($) |
Lessor Lease Description [Line Items] | |
2021 | $ 1,018,992 |
2022 | 1,039,494 |
2023 | 1,058,188 |
2024 | 1,075,951 |
2025 | 1,094,175 |
Thereafter | 26,696,180 |
Future minimum lease payments to be received | 31,982,980 |
Operating Leases [Member] | |
Lessor Lease Description [Line Items] | |
2021 | 858,067 |
2022 | 875,350 |
2023 | 890,761 |
2024 | 905,176 |
2025 | 919,984 |
Thereafter | 22,102,425 |
Future minimum lease payments to be received | 26,551,763 |
Financing Leases [Member] | |
Lessor Lease Description [Line Items] | |
2021 | 160,925 |
2022 | 164,144 |
2023 | 167,427 |
2024 | 170,775 |
2025 | 174,191 |
Thereafter | 4,593,755 |
Future minimum lease payments to be received | $ 5,431,217 |
Real Estate Activities - Compon
Real Estate Activities - Components of Total Investment in Financing Leases (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Direct Financing Lease Net Investment In Leases [Abstract] | ||
Minimum lease payments receivable | $ 1,228,966 | $ 1,884,921 |
Estimated residual values | 203,818 | 394,195 |
Less: Unearned income and allowance for credit loss | (969,061) | (1,618,252) |
Net investment in direct financing leases | 463,723 | 660,864 |
Other financing leases (net of allowance for credit loss) | 1,547,199 | 1,399,438 |
Total investment in financing leases | $ 2,010,922 | $ 2,060,302 |
Real Estate Activities - Rent D
Real Estate Activities - Rent Deferrals - Additional Information (Detail) - COVID-19 Pandemic [Member] $ in Millions | Dec. 31, 2020USD ($) |
Business Acquisition [Line Items] | |
Deferred lease income | $ 11.4 |
Maximum [Member] | |
Business Acquisition [Line Items] | |
Percentage of deferred revenue lease | 2.00% |
Real Estate Activities - Adeptu
Real Estate Activities - Adeptus Health - Additional Information (Detail) - Adeptus Health [Member] $ in Millions | 12 Months Ended | ||
Dec. 31, 2020USD ($)FacilityLease | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Business Acquisition [Line Items] | |||
Number of leased properties | Lease | 60 | ||
Real estate impairment charge | $ 20 | $ 2 | $ 24 |
Straight-line rent and other write-off, net of tax | $ 10 | $ 6 | |
Number of facilities transitioned | Facility | 18 | ||
Maximum [Member] | |||
Business Acquisition [Line Items] | |||
Percentage of vacant on leased property | 1.00% |
Real Estate Activities - Alecto
Real Estate Activities - Alecto Facilities - Additional Information (Detail) - Alecto Healthcare Services [Member] $ in Millions | 3 Months Ended | 12 Months Ended | |||
Jun. 30, 2020Property | Mar. 31, 2020USD ($) | Dec. 31, 2020USD ($)Property | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Business Acquisition [Line Items] | |||||
Number of leased properties | 4 | ||||
Real estate impairment charge | $ | $ 9.1 | $ 20 | $ 30 | ||
Number of re-leased properties | 1 | ||||
Number of additional leased properties | 1 | ||||
Proceeds from sale of mortgage loans | $ | $ 43 | ||||
Total Gross Assets [Member] | Customer Concentration Risk [Member] | Maximum [Member] | |||||
Business Acquisition [Line Items] | |||||
Percentage of total assets | 0.50% |
Real Estate Activities - Other
Real Estate Activities - Other Leasing Activity - Additional Information (Detail) - Methodist [Member] - Texas [Member] $ in Millions | Jul. 24, 2020USD ($)Property | Sep. 30, 2020USD ($) |
Business Acquisition [Line Items] | ||
Total investments | $ 30 | |
Number of re-leased properties | Property | 5 | |
Straight-line rent and other write-off, net of tax | $ 1.5 |
Real Estate Activities - Summ_5
Real Estate Activities - Summary of Loans (Net of Allowance for Credit Loss) (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Loans [Line Items] | ||
Mortgage loans | $ 248,080 | $ 1,275,022 |
Acquisition loans | 338,273 | 123,893 |
Other loans | 520,095 | 420,939 |
Total | $ 1,106,448 | $ 1,819,854 |
Mortgage Loans [Member] | ||
Loans [Line Items] | ||
Loans, Weighted Average Interest Rate | 8.50% | 9.00% |
Acquisition Loans [Member] | ||
Loans [Line Items] | ||
Loans, Weighted Average Interest Rate | 7.60% | 7.70% |
Other Loans [Member] | ||
Loans [Line Items] | ||
Loans, Weighted Average Interest Rate | 5.80% | 5.70% |
Real Estate Activities - Loans
Real Estate Activities - Loans - Additional Information (Detail) $ in Thousands, € in Millions | 12 Months Ended | ||
Dec. 31, 2020USD ($)PropertyOperator | Dec. 31, 2019USD ($) | Aug. 31, 2018EUR (€) | |
Loans [Line Items] | |||
Repayments of mortgage loans | $ 800,000 | ||
Acquisition loans | 338,273 | $ 123,893 | |
Joint Venture Partner [Member] | |||
Loans [Line Items] | |||
Acquisition loans | $ 205,000 | ||
Primotop Holdings S.a.r.l. [Member] | |||
Loans [Line Items] | |||
Shareholder loan to joint venture | € | € 290 | ||
Mortgage Loans [Member] | Steward Health Care System LLC [Member] | |||
Loans [Line Items] | |||
Number of real estate properties | Property | 6 | ||
Number of operators | Operator | 4 | ||
Mortgage Loans [Member] | Prime Healthcare Services [Member] | |||
Loans [Line Items] | |||
Repayments of mortgage loans | $ 328,000 |
Real Estate Activities - Concen
Real Estate Activities - Concentration of Credit Risks and Related Party Transactions - Additional Information (Detail) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020USD ($)Investment | Dec. 31, 2019USD ($)Investment | Dec. 31, 2018USD ($) | |
Related Party Transactions [Member] | |||
Business Acquisition [Line Items] | |||
Lease and interest revenue earned from tenants | $ | $ 29.8 | $ 85.3 | $ 102.2 |
Total Gross Assets [Member] | Geographic Concentration [Member] | U.S. [Member] | |||
Business Acquisition [Line Items] | |||
Percentage of concentration risk | 65.00% | 74.00% | |
Total Gross Assets [Member] | Geographic Concentration [Member] | Europe [Member] | |||
Business Acquisition [Line Items] | |||
Percentage of concentration risk | 28.00% | 20.00% | |
Total Gross Assets [Member] | Geographic Concentration [Member] | Australia [Member] | |||
Business Acquisition [Line Items] | |||
Percentage of concentration risk | 6.00% | 6.00% | |
Total Gross Assets [Member] | Geographic Concentration [Member] | South America [Member] | |||
Business Acquisition [Line Items] | |||
Percentage of concentration risk | 1.00% | ||
Revenue [Member] | Customer Concentration Risk [Member] | General Acute Care Hospital and Healthcare System [Member] | |||
Business Acquisition [Line Items] | |||
Percentage of concentration risk | 87.00% | 82.00% | |
Revenue [Member] | Customer Concentration Risk [Member] | Rehabilitation Hospital with Covenant Health System [Member] | |||
Business Acquisition [Line Items] | |||
Percentage of concentration risk | 8.00% | 10.00% | |
Revenue [Member] | Customer Concentration Risk [Member] | Freestanding ER/Urgent Care Facilities and Behavioral Health Facilities [Member] | |||
Business Acquisition [Line Items] | |||
Percentage of concentration risk | 2.00% | 5.00% | |
Revenue [Member] | Customer Concentration Risk [Member] | Long-term Acute Care Hospital [Member] | |||
Business Acquisition [Line Items] | |||
Percentage of concentration risk | 3.00% | 3.00% | |
Revenue [Member] | Credit Concentration Risk [Member] | Steward Health Care System LLC [Member] | |||
Business Acquisition [Line Items] | |||
Percentage of concentration risk | 30.00% | 42.00% | |
Revenue [Member] | Credit Concentration Risk [Member] | Circle [Member] | |||
Business Acquisition [Line Items] | |||
Percentage of concentration risk | 13.00% | ||
Revenue [Member] | Credit Concentration Risk [Member] | Circle [Member] | Maximum [Member] | |||
Business Acquisition [Line Items] | |||
Percentage of concentration risk | 10.00% | ||
Revenue [Member] | Credit Concentration Risk [Member] | Prospect [Member] | |||
Business Acquisition [Line Items] | |||
Percentage of concentration risk | 12.00% | ||
Revenue [Member] | Credit Concentration Risk [Member] | Prospect [Member] | Maximum [Member] | |||
Business Acquisition [Line Items] | |||
Percentage of concentration risk | 10.00% | ||
Pro Forma [Member] | Total Gross Assets [Member] | Customer Concentration Risk [Member] | |||
Business Acquisition [Line Items] | |||
Number of investment in property | Investment | 0 | 0 | |
Maximum percentage of entity's assets invested on single property | 4.00% | 4.00% |
Debt - Summary of Debt (Detail)
Debt - Summary of Debt (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | |
Debt Instrument [Line Items] | |||
Debt | $ 8,934,187 | $ 7,089,520 | |
Debt issue costs and discount, net | (68,729) | (65,841) | |
Debt, net | 8,865,458 | 7,023,679 | |
Revolving Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Debt | [1] | 165,407 | |
Term Loan [Member] | |||
Debt Instrument [Line Items] | |||
Debt | 200,000 | 200,000 | |
Term Loan [Member] | British Pound Sterling [Member] | |||
Debt Instrument [Line Items] | |||
Debt | [2] | 956,900 | |
Term Loan [Member] | Australia [Member] | |||
Debt Instrument [Line Items] | |||
Debt | [2] | 923,280 | 842,520 |
4.000% Senior Unsecured Notes Due 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Debt | [2] | 610,800 | 560,650 |
2.550% Senior Unsecured Notes due 2023 [Member] | |||
Debt Instrument [Line Items] | |||
Debt | [2] | 546,800 | 530,280 |
5.500% Senior Unsecured Notes Due 2024 [Member] | |||
Debt Instrument [Line Items] | |||
Debt | 300,000 | ||
6.375% Senior Unsecured Notes due 2024 [Member] | |||
Debt Instrument [Line Items] | |||
Debt | 500,000 | ||
5.250% Senior Unsecured Notes Due 2026 [Member] | |||
Debt Instrument [Line Items] | |||
Debt | 500,000 | 500,000 | |
5.000% Senior Unsecured Notes Due 2027 [Member] | |||
Debt Instrument [Line Items] | |||
Debt | 1,400,000 | 1,400,000 | |
3.692% Senior Unsecured Notes due 2028 [Member] | |||
Debt Instrument [Line Items] | |||
Debt | [2] | 820,200 | 795,420 |
4.625% Senior Unsecured Notes Due 2029 [Member] | |||
Debt Instrument [Line Items] | |||
Debt | 900,000 | 900,000 | |
3.325% Senior Unsecured Notes Due 2025 [Member] | |||
Debt Instrument [Line Items] | |||
Debt | [2] | 610,800 | $ 560,650 |
3.500% Senior Unsecured Notes Due 2031 [Member] | |||
Debt Instrument [Line Items] | |||
Debt | $ 1,300,000 | ||
[1] | Includes £121 million of GBP-denominated borrowings that reflect the exchange rate at December 31, 2020. | ||
[2] | Non-U.S. dollar denominated debt that reflects the exchange rate at period end. |
Debt - Summary of Debt (Parenth
Debt - Summary of Debt (Parenthetical) (Detail) $ in Thousands, £ in Millions | Dec. 31, 2020USD ($) | Dec. 31, 2020GBP (£) | Dec. 04, 2020 | Dec. 31, 2019USD ($) | Jul. 26, 2019 | Sep. 07, 2017 | Mar. 24, 2017 | Jul. 22, 2016 | Feb. 22, 2016 | Aug. 19, 2015 | Apr. 17, 2014 | ||||
Debt Instrument [Line Items] | |||||||||||||||
Debt | $ 8,934,187 | $ 7,089,520 | |||||||||||||
GBP-denominated Borrowings [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt | £ | £ 121 | ||||||||||||||
4.000% Senior Unsecured Notes Due 2022 [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Senior unsecured notes, interest rate | 4.00% | [1] | 4.00% | [1] | 4.00% | [1] | 4.00% | ||||||||
Debt | [1] | $ 610,800 | $ 560,650 | ||||||||||||
2.550% Senior Unsecured Notes due 2023 [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Senior unsecured notes, interest rate | [1] | 2.55% | 2.55% | 2.55% | |||||||||||
Debt | [1] | $ 546,800 | $ 530,280 | ||||||||||||
5.500% Senior Unsecured Notes Due 2024 [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Senior unsecured notes, interest rate | 5.50% | 5.50% | 5.50% | 5.50% | |||||||||||
Debt | $ 300,000 | ||||||||||||||
6.375% Senior Unsecured Notes due 2024 [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Senior unsecured notes, interest rate | 6.375% | 6.375% | 6.375% | 6.375% | |||||||||||
Debt | $ 500,000 | ||||||||||||||
3.325% Senior Unsecured Notes Due 2025 [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Senior unsecured notes, interest rate | 3.325% | [1] | 3.325% | [1] | 3.325% | [1] | 3.325% | ||||||||
Debt | [1] | $ 610,800 | $ 560,650 | ||||||||||||
5.250% Senior Unsecured Notes Due 2026 [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Senior unsecured notes, interest rate | 5.25% | 5.25% | 5.25% | 5.25% | |||||||||||
Debt | $ 500,000 | $ 500,000 | |||||||||||||
5.000% Senior Unsecured Notes Due 2027 [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Senior unsecured notes, interest rate | 5.00% | 5.00% | 5.00% | 5.00% | |||||||||||
Debt | $ 1,400,000 | $ 1,400,000 | |||||||||||||
3.692% Senior Unsecured Notes due 2028 [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Senior unsecured notes, interest rate | [1] | 3.692% | 3.692% | 3.692% | |||||||||||
Debt | [1] | $ 820,200 | $ 795,420 | ||||||||||||
4.625% Senior Unsecured Notes Due 2029 [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Senior unsecured notes, interest rate | 4.625% | 4.625% | 4.625% | 4.625% | |||||||||||
Debt | $ 900,000 | $ 900,000 | |||||||||||||
3.500% Senior Unsecured Notes Due 2031 [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Senior unsecured notes, interest rate | 3.50% | 3.50% | 3.50% | 3.50% | |||||||||||
Debt | $ 1,300,000 | ||||||||||||||
[1] | Non-U.S. dollar denominated debt that reflects the exchange rate at period end. |
Debt - Principal Payments Due f
Debt - Principal Payments Due for Debt (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Disclosure [Abstract] | ||
2021 | $ 165,407 | |
2022 | 810,800 | |
2023 | 546,800 | |
2024 | 923,280 | |
2025 | 1,567,700 | |
Thereafter | 4,920,200 | |
Total | $ 8,934,187 | $ 7,089,520 |
Debt - Credit Facility - Additi
Debt - Credit Facility - Additional Information (Detail) - USD ($) | Feb. 01, 2017 | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | |||
Aggregate committed amount of credit facility | $ 500,000,000 | ||
Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Commitment fee | 0.125% | ||
Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Commitment fee | 0.30% | ||
Unsecured Revolving Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Amount of senior unsecured debt | $ 1,300,000,000 | ||
Debt instrument, maturity month and year | 2021-02 | ||
Aggregate committed amount of credit facility | $ 1,100,000,000 | $ 1,300,000,000 | |
Credit facilities, amount outstanding | $ 165,400,000 | $ 0 | |
Credit facilities, weighted average interest rate | 1.40% | 2.00% | |
Term Loans [Member] | |||
Debt Instrument [Line Items] | |||
Amount of senior unsecured debt | $ 200,000,000 | ||
Debt instrument maturity date | Feb. 1, 2022 | ||
Interest rate at end of period | 1.65% | 3.30% | |
Alternate Base Rate [Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Applicable margin | 0.00% | ||
Applicable margin for revolving loans | 0.00% | ||
Alternate Base Rate [Member] | Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Applicable margin | 0.95% | ||
Applicable margin for revolving loans | 0.65% | ||
Eurodollar Loans [Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Applicable margin | 0.90% | ||
Applicable margin for revolving loans | 0.875% | ||
Eurodollar Loans [Member] | Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Applicable margin | 1.95% | ||
Applicable margin for revolving loans | 1.65% |
Debt - British Pound Sterling T
Debt - British Pound Sterling Term Loan - Additional Information (Detail) | Mar. 04, 2020 | Jan. 06, 2020GBP (£) | Dec. 31, 2020 | Feb. 01, 2017USD ($) |
Debt Instrument [Line Items] | ||||
Maximum borrowing capacity | $ | $ 500,000,000 | |||
Term Loan [Member] | Bank of America, N.A | British Pound Sterling [Member] | ||||
Debt Instrument [Line Items] | ||||
Maximum borrowing capacity | £ | £ 700,000,000 | |||
Debt instrument maturity date | Jan. 15, 2025 | |||
Debt instrument effective date | Mar. 6, 2020 | |||
Effective interest rate | 0.70% | |||
Senior unsecured notes, interest rate | 1.95% | |||
Term Loan [Member] | Bank of America, N.A | British Pound Sterling [Member] | Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Applicable margin adjustable based on pricing grid, percentage | 0.85% | |||
Term Loan [Member] | Bank of America, N.A | British Pound Sterling [Member] | Maximum [Member] | ||||
Debt Instrument [Line Items] | ||||
Applicable margin adjustable based on pricing grid, percentage | 1.65% | |||
Term Loan [Member] | Bank of America, N.A | Credit Rating | British Pound Sterling [Member] | ||||
Debt Instrument [Line Items] | ||||
Variable interest rate | 1.25% |
Debt - Australian Term Loan - A
Debt - Australian Term Loan - Additional Information (Detail) | Jun. 27, 2019 | May 23, 2019AUD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Feb. 01, 2017USD ($) |
Debt Instrument [Line Items] | |||||
Maximum borrowing capacity | $ 500,000,000 | ||||
Accounts Payable and Accrued Expenses | |||||
Debt Instrument [Line Items] | |||||
Derivative liability | $ 51,300,000 | $ 5,600,000 | |||
Term Loan [Member] | Bank of America, N.A | Australia [Member] | |||||
Debt Instrument [Line Items] | |||||
Maximum borrowing capacity | $ 1,200,000,000 | ||||
Debt instrument maturity date | May 23, 2024 | ||||
Debt instrument effective date | Jul. 3, 2019 | ||||
Effective interest rate | 1.20% | ||||
Senior unsecured notes, interest rate | 2.45% | ||||
Reference rate | 0.00% | ||||
Term Loan [Member] | Bank of America, N.A | Australia [Member] | Minimum [Member] | |||||
Debt Instrument [Line Items] | |||||
Applicable margin adjustable based on pricing grid, percentage | 0.85% | ||||
Term Loan [Member] | Bank of America, N.A | Australia [Member] | Maximum [Member] | |||||
Debt Instrument [Line Items] | |||||
Applicable margin adjustable based on pricing grid, percentage | 1.65% | ||||
Term Loan [Member] | Bank of America, N.A | Australia [Member] | Credit Rating | |||||
Debt Instrument [Line Items] | |||||
Variable interest rate | 1.25% |
Debt - Senior Unsecured Notes -
Debt - Senior Unsecured Notes - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Senior Unsecured Notes [Member] | |
Debt Instrument [Line Items] | |
Senior notes, repurchased price percentage on principal amount plus accrued and unpaid interest | 101.00% |
Debt - 4.000% Senior Unsecured
Debt - 4.000% Senior Unsecured Notes Due 2022 - Additional Information (Detail) - 4.000% Senior Unsecured Notes Due 2022 [Member] - EUR (€) | Aug. 19, 2015 | Dec. 31, 2020 | Dec. 31, 2019 | [1] | |
Debt Instrument [Line Items] | |||||
Senior unsecured notes face amount | € 500,000,000 | ||||
Senior unsecured notes, payable term | Interest on the notes is payable annually on August 19 of each year. | ||||
Senior unsecured notes, interest rate | 4.00% | 4.00% | [1] | 4.00% | |
Debt instrument maturity date | Aug. 19, 2022 | ||||
[1] | Non-U.S. dollar denominated debt that reflects the exchange rate at period end. |
Debt - 2.550% Senior Unsecured
Debt - 2.550% Senior Unsecured Notes Due 2023 - Additional Information (Detail) - 2.550% Senior Unsecured Notes due 2023 [Member] - GBP (£) | Dec. 05, 2019 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Senior unsecured notes face amount | £ 400,000,000 | |
Senior unsecured notes, payable term | Interest on the notes is payable annually on December 5 of each year. | |
Debt instrument maturity date | Dec. 5, 2023 |
Debt - 5.500% Senior Unsecured
Debt - 5.500% Senior Unsecured Notes Due 2024 - Additional Information (Detail) - 5.500% Senior Unsecured Notes Due 2024 [Member] - USD ($) | Apr. 17, 2014 | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | |||
Senior unsecured notes face amount | $ 300,000,000 | ||
Senior unsecured notes, payable term | Interest on the notes was payable semi-annually on May 1 and November 1 of each year. | ||
Senior unsecured notes, interest rate | 5.50% | 5.50% | 5.50% |
Debt instrument maturity date | May 1, 2024 | ||
Debt instrument, redemption date | Dec. 19, 2020 |
Debt - 6.375% Senior Unsecured
Debt - 6.375% Senior Unsecured Notes Due 2024 - Additional Information (Detail) - 6.375% Senior Unsecured Notes due 2024 [Member] - USD ($) | Feb. 22, 2016 | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | |||
Senior unsecured notes face amount | $ 500,000,000 | ||
Senior unsecured notes, payable term | Interest on the notes was payable on March 1 and September 1 of each year. | ||
Senior unsecured notes, interest rate | 6.375% | 6.375% | 6.375% |
Debt instrument maturity date | Mar. 1, 2024 | ||
Debt instrument, redemption date | Dec. 19, 2020 |
Debt - 3.325% Senior Unsecured
Debt - 3.325% Senior Unsecured Notes Due 2025 - Additional Information (Detail) - 3.325% Senior Unsecured Notes Due 2025 [Member] - EUR (€) | Mar. 24, 2017 | Dec. 31, 2020 | Dec. 31, 2019 | [1] | |
Debt Instrument [Line Items] | |||||
Senior unsecured notes face amount | € 500,000,000 | ||||
Senior unsecured notes, payable term | Interest on the notes is payable annually on March 24 of each year. | ||||
Senior unsecured notes, interest rate | 3.325% | 3.325% | [1] | 3.325% | |
Debt instrument maturity date | Mar. 24, 2025 | ||||
[1] | Non-U.S. dollar denominated debt that reflects the exchange rate at period end. |
Debt - 5.250% Senior Unsecured
Debt - 5.250% Senior Unsecured Notes Due 2026 - Additional Information (Detail) - 5.250% Senior Unsecured Notes Due 2026 [Member] - USD ($) | Jul. 22, 2016 | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | |||
Senior unsecured notes face amount | $ 500,000,000 | ||
Senior unsecured notes, payable term | Interest on the notes is payable on February 1 and August 1 of each year. | ||
Senior unsecured notes, interest rate | 5.25% | 5.25% | 5.25% |
Debt instrument maturity date | Aug. 1, 2026 |
Debt - 5.000% Senior Unsecured
Debt - 5.000% Senior Unsecured Notes Due 2027 - Additional Information (Detail) - 5.000% Senior Unsecured Notes Due 2027 [Member] - USD ($) | Sep. 07, 2017 | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | |||
Senior unsecured notes face amount | $ 1,400,000,000 | ||
Senior unsecured notes, payable term | Interest on the notes is payable on April 15 and October 15 of each year. | ||
Senior unsecured notes, interest rate | 5.00% | 5.00% | 5.00% |
Debt instrument maturity date | Oct. 15, 2027 |
Debt - 3.692% Senior Unsecured
Debt - 3.692% Senior Unsecured Notes Due 2028 - Additional Information (Detail) - 3.692% Senior Unsecured Notes due 2028 [Member] - GBP (£) | Dec. 05, 2019 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Senior unsecured notes face amount | £ 600,000,000 | |
Percentage of par value on senior notes | 99.998% | |
Senior unsecured notes, payable term | Interest on the notes is payable on June 5 of each year. | |
Debt instrument maturity date | Jun. 5, 2028 |
Deb - 4.625% Senior Unsecured N
Deb - 4.625% Senior Unsecured Notes Due 2029 - Additional Information (Detail) - 4.625% Senior Unsecured Notes Due 2029 [Member] - USD ($) | Jul. 26, 2019 | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | |||
Senior unsecured notes face amount | $ 900,000,000 | ||
Senior unsecured notes, payable term | Interest on the notes is payable on February 1 and August 1 of each year, commencing on February 1, 2020. | ||
Percentage of par value on senior notes | 99.50% | ||
Senior unsecured notes, interest rate | 4.625% | 4.625% | 4.625% |
Debt instrument maturity date | Aug. 1, 2029 |
Deb - 3.500% Senior Unsecured N
Deb - 3.500% Senior Unsecured Notes Due 2031 - Additional Information (Detail) - 3.500% Senior Unsecured Notes Due 2031 [Member] - USD ($) | Dec. 04, 2020 | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | |||
Senior unsecured notes face amount | $ 1,300,000,000 | ||
Senior unsecured notes, interest rate | 3.50% | 3.50% | 3.50% |
Senior unsecured notes, payable term | Interest on the notes is payable semi-annually on March 15 and September 15 of each year. | ||
Debt instrument maturity date | Mar. 15, 2031 |
Debt - Additional Information (
Debt - Additional Information (Detail) € in Millions | Dec. 04, 2020USD ($) | Dec. 17, 2019Hospital | Aug. 31, 2018Hospital | Aug. 03, 2018EUR (€) | Jul. 31, 2019USD ($) | Aug. 31, 2018Hospital | Dec. 31, 2020USD ($)Hospital | Dec. 31, 2019 | Dec. 23, 2019USD ($) | Feb. 22, 2016USD ($) | Apr. 17, 2014USD ($) |
3.500% Senior Unsecured Notes Due 2031 [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Senior unsecured notes face amount | $ 1,300,000,000 | ||||||||||
Senior unsecured notes, interest rate | 3.50% | 3.50% | 3.50% | ||||||||
Senior unsecured notes, maturity year | 2031 | ||||||||||
6.375% Senior Unsecured Notes due 2024 [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Senior unsecured notes face amount | $ 500,000,000 | ||||||||||
Senior unsecured notes, interest rate | 6.375% | 6.375% | 6.375% | ||||||||
Senior unsecured notes, maturity year | 2024 | ||||||||||
Senior unsecured notes redemption amount including accrued and unpaid interest | $ 500,000,000 | ||||||||||
5.500% Senior Unsecured Notes Due 2024 [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Senior unsecured notes face amount | $ 300,000,000 | ||||||||||
Senior unsecured notes, interest rate | 5.50% | 5.50% | 5.50% | ||||||||
Senior unsecured notes, maturity year | 2024 | ||||||||||
Senior unsecured notes redemption amount including accrued and unpaid interest | $ 300,000,000 | ||||||||||
Term Loans [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Debt refinancing costs | $ 28,000,000 | ||||||||||
Accelerated debt issue cost amortization expense | $ 2,000,000 | ||||||||||
Senior Unsecured Term Loan Facility [Member] | Barclays Bank P L C [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Underwriting and other fees | $ 4,000,000 | ||||||||||
Acute Care Hospital [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Number of facilities acquired | Hospital | 10 | 2 | |||||||||
Primotop Holdings S.a.r.l. [Member] | Germany [Member] | Acute Care Hospital [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Proceeds from issuance of new secured debt | € | € 655 | ||||||||||
Number of facilities acquired | Hospital | 71 | ||||||||||
Primotop Holdings S.a.r.l. [Member] | Germany [Member] | Acute Care Hospital [Member] | Secured Debt [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Number of facilities acquired | Hospital | 71 | ||||||||||
Debt instrument term | 7 years | ||||||||||
Debt instrument swapped fixed rate | 2.30% | 2.30% |
Debt - Covenants - Additional I
Debt - Covenants - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Debt Disclosure [Abstract] | |
Percentage of dividends which could be paid from adjusted operating funds | 95.00% |
Percentage of dividends which could be paid from operation funds | 95.00% |
Maximum percentage of total unencumbered assets | 150.00% |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
Percentage of ordinary taxable income to be distributed for real estate investment trust qualification | 90.00% | 90.00% | 90.00% |
Percentage of taxable income to be distributed for federal income tax assumption | 100.00% | ||
Amount of foreign income (loss) before income taxes | $ 62,100,000 | $ 10,700,000 | $ 18,600,000 |
Amount of domestic income (loss) before income taxes | 6,400,000 | $ (44,100,000) | $ 8,000,000 |
Valuation allowance not expected to be realized | 25,600,000 | ||
Uncertain tax position liabilities and related interest or penalties | $ 0 |
Income Taxes - Schedule of Inco
Income Taxes - Schedule of Income Tax Benefit (Expense) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Current income tax benefit (expense): | |||
Domestic | $ 63 | $ 61 | $ 125 |
Foreign | (10,203) | (1,669) | (3,294) |
Total income tax expense | (10,140) | (1,608) | (3,169) |
Deferred income tax benefit (expense): | |||
Domestic | (10,680) | 5,490 | 3,713 |
Foreign | (10,236) | (1,261) | (1,471) |
Total income tax expense | (20,916) | 4,229 | 2,242 |
Income tax benefit (expense) | $ (31,056) | $ 2,621 | $ (927) |
Income Taxes - Summary of Recon
Income Taxes - Summary of Reconciliation of Income Tax Benefit (Expense) from the Statutory Income Tax Rate to the Effective Tax Rate Based on Income before Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
Income before income tax | $ 463,328 | $ 373,780 | $ 1,019,404 |
Income tax at the U.S. statutory federal rate (21% in 2020, 2019 and 2018) | (97,299) | (78,494) | (214,075) |
Decrease (increase) in income tax resulting from: | |||
Foreign rate differential | 2,160 | 438 | 2,643 |
State income taxes, net of federal benefit | 970 | 1,621 | (379) |
U.S. earnings not subject to federal income tax | 82,921 | 85,495 | 208,472 |
Equity investments | 380 | 1,091 | 46 |
Change in valuation allowance | (8,514) | (7,911) | 2,668 |
Statutory tax rate change | (9,471) | ||
Other items, net | (2,203) | 381 | (302) |
Income tax benefit (expense) | $ (31,056) | $ 2,621 | $ (927) |
Income Taxes - Summary of Rec_2
Income Taxes - Summary of Reconciliation of Income Tax Benefit (Expense) from the Statutory Income Tax Rate to the Effective Tax Rate Based on Income before Income Taxes (Parenthetical) (Detail) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
Income tax at the US statutory federal rate | 21.00% | 21.00% | 21.00% |
Income Taxes - Schedule of Defe
Income Taxes - Schedule of Deferred Tax Assets and liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Income Tax Disclosure [Abstract] | ||
Operating loss and interest deduction carry forwards | $ 150,001 | $ 28,684 |
Interest rate swap | 9,150 | 843 |
Other | 6,973 | 868 |
Total deferred tax assets | 166,124 | 30,395 |
Valuation allowance | (36,977) | (11,355) |
Total net deferred tax assets | 129,147 | 19,040 |
Property and equipment | (211,018) | (7,324) |
Net unbilled revenue | (14,776) | (1,449) |
Other | (4,010) | (737) |
Total deferred tax liabilities | (229,804) | (9,510) |
Net deferred tax assets | $ 9,530 | |
Net deferred tax liabilities | $ (100,657) |
Income Taxes - Schedule of Net
Income Taxes - Schedule of Net NOL and Other Tax Attribute Carryforwards (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
U.S. [Member] | |
Income Taxes [Line Items] | |
Gross NOL carryforwards | $ 159,895 |
Tax-effected NOL carryforwards | 16,298 |
Valuation allowance | (6,193) |
Net deferred tax asset - NOL carryforwards | $ 10,105 |
Expiration periods | 2029 |
Expiration periods | indefinite |
Foreign [Member] | |
Income Taxes [Line Items] | |
Gross NOL carryforwards | $ 528,567 |
Tax-effected NOL carryforwards | 133,703 |
Valuation allowance | (30,784) |
Net deferred tax asset - NOL carryforwards | $ 102,919 |
Expiration periods | indefinite |
Income Taxes - Schedule of Per
Income Taxes - Schedule of Per Share Distributions to Stockholders (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
Common share distribution | $ 1.070000 | $ 1.010000 | $ 0.990000 |
Ordinary income | 0.603050 | 0.701910 | 0.438792 |
Capital gains | 0.275040 | 0.551208 | |
Unrecaptured Sec. 1250 gain | 0.041160 | 0.132280 | |
Section 199A Dividends | 0.603050 | 0.701910 | $ 0.438792 |
Return of capital | $ 0.466950 | $ 0.033050 |
Earnings Per Share_Unit - Calcu
Earnings Per Share/Unit - Calculation of Earnings Per Share (Detail) - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||
Net income | $ 432,272 | $ 376,401 | $ 1,018,477 |
Non-controlling interests’ share in earnings | (822) | (1,717) | (1,792) |
Participating securities’ share in earnings | (2,105) | (2,308) | (3,685) |
Net income, less participating securities’ share in earnings | $ 429,345 | $ 372,376 | $ 1,013,000 |
Basic weighted-average common shares | 529,239 | 427,075 | 365,364 |
Dilutive potential common shares | 1,222 | 1,224 | 907 |
Diluted weighted-average common shares | 530,461 | 428,299 | 366,271 |
MPT Operating Partnership, L.P. [Member] | |||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||
Net income | $ 432,272 | $ 376,401 | $ 1,018,477 |
Non-controlling interests’ share in earnings | (822) | (1,717) | (1,792) |
Participating securities’ share in earnings | (2,105) | (2,308) | (3,685) |
Net income, less participating securities’ share in earnings | $ 429,345 | $ 372,376 | $ 1,013,000 |
Basic weighted-average common shares | 529,239 | 427,075 | 365,364 |
Dilutive potential common shares | 1,222 | 1,224 | 907 |
Diluted weighted-average common shares | 530,461 | 428,299 | 366,271 |
Stock Awards - Additional Infor
Stock Awards - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share / (Unit)-based compensation expense | $ 47,154 | $ 32,188 | $ 16,505 |
Stock-based compensation expense, unrecognized cost | $ 53,600 | ||
Stock-based compensation expense, unrecognized cost, reorganization period (in years) | 1 year 3 months 18 days | ||
Stock-based awards, fair value | $ 58,900 | $ 25,900 | $ 8,400 |
Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock awards vesting period in years | 10 years | ||
Equity Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Reserved shares of new common stock for awards under the Equity Incentive Plan | 12,900,000 | ||
Common stock remaining for future stock awards transferred to the equity incentive plan | 8,400,000 | ||
Maximum number of shares of common stock that may be awarded | 5,000,000 | ||
Service-Based Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation arrangement by share based payment award, expected service period (in years) | 3 years | ||
Performance-Based Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation arrangement by share based payment award, expected service period (in years) | 3 years |
Stock Awards - Stock-based Awar
Stock Awards - Stock-based Award Activity (Detail) - $ / shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Vesting Based on Service [Member] | ||
Employee Restricted Equity Awards Vesting Activity [Line Items] | ||
Nonvested awards at beginning of the year, Shares | 1,122,440 | 923,848 |
Awarded, Shares | 635,855 | 681,378 |
Vested, Shares | (699,215) | (478,104) |
Forfeited, Shares | (2,026) | (4,682) |
Nonvested awards at end of year, Shares | 1,057,054 | 1,122,440 |
Nonvested awards at beginning of the year, Weighted Average Value at Award Date | $ 17.11 | $ 14.29 |
Awarded, Weighted Average Value at Award Date | 19.65 | 19.24 |
Vested, Weighted Average Value at Award Date | 16.80 | 14.73 |
Forfeited, Weighted Average Value at Award Date | 18.40 | 13.44 |
Nonvested awards at end of year, Weighted Average Value at Award Date | $ 18.79 | $ 17.11 |
Vesting Based on Market/Performance Conditions [Member] | ||
Employee Restricted Equity Awards Vesting Activity [Line Items] | ||
Nonvested awards at beginning of the year, Shares | 5,481,155 | 4,133,435 |
Awarded, Shares | 1,800,898 | 2,438,292 |
Vested, Shares | (2,193,906) | (1,051,637) |
Forfeited, Shares | (1,164) | (38,935) |
Nonvested awards at end of year, Shares | 5,086,983 | 5,481,155 |
Nonvested awards at beginning of the year, Weighted Average Value at Award Date | $ 11.66 | $ 9.21 |
Awarded, Weighted Average Value at Award Date | 19.42 | 15.25 |
Vested, Weighted Average Value at Award Date | 11.35 | 10.43 |
Forfeited, Weighted Average Value at Award Date | 18.22 | 10.13 |
Nonvested awards at end of year, Weighted Average Value at Award Date | $ 14.41 | $ 11.66 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) £ in Millions | Jan. 19, 2021GBP (£)Extension | Dec. 30, 2020GBP (£)Health_Center | Jan. 15, 2021USD ($) | Jan. 15, 2021GBP (£) | Dec. 31, 2020 | Feb. 01, 2017USD ($) |
Commitment And Contingencies [Line Items] | ||||||
Term of lease | 15 years | |||||
Aggregate committed amount of credit facility | $ | $ 500,000,000 | |||||
Waterland Private Equity Fund VII C.V [Member] | ||||||
Commitment And Contingencies [Line Items] | ||||||
Purchase price of acquisition | £ 800 | |||||
Date of acquisition agreement | Dec. 30, 2020 | |||||
Waterland Private Equity Fund VII C.V [Member] | Subsequent Event | ||||||
Commitment And Contingencies [Line Items] | ||||||
Payment for acquisition | £ 800 | |||||
Lease extension options, description | two 10-year | |||||
Term of lease | 25 years | |||||
Number of lease extension options | Extension | 2 | |||||
Extension term of lease | 10 years | |||||
Purchase price of acquisition with 364-day acquisition loan | £ 250 | |||||
Ownership interest in joint venture under the equity method | 9.90% | |||||
Waterland Private Equity Fund VII C.V [Member] | Subsequent Event | Interim Credit Facility [Member] | ||||||
Commitment And Contingencies [Line Items] | ||||||
Aggregate committed amount of credit facility | $ | $ 900,000,000 | |||||
Amount utilized from credit facility | £ 500 | |||||
Waterland Private Equity Fund VII C.V [Member] | Subsequent Event | Revolving Credit Facility [Member] | ||||||
Commitment And Contingencies [Line Items] | ||||||
Credit facilities, amount outstanding | £ 350 | |||||
Behavioral Health Care Facilities [Member] | Waterland Private Equity Fund VII C.V [Member] | Minimum [Member] | ||||||
Commitment And Contingencies [Line Items] | ||||||
Number of facilities acquired | Health_Center | 35 | |||||
Behavioral Health Care Facilities [Member] | Waterland Private Equity Fund VII C.V [Member] | Maximum [Member] | ||||||
Commitment And Contingencies [Line Items] | ||||||
Number of facilities acquired | Health_Center | 40 |
Common Stock_Partners' Capital
Common Stock/Partners' Capital - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Dec. 28, 2020 | Dec. 27, 2019 | Nov. 08, 2019 | Jul. 18, 2019 | Dec. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Nov. 04, 2019 | Nov. 03, 2019 |
Class Of Stock [Line Items] | ||||||||||
Proceeds from sale of common shares / units, net of offering costs | $ 411,101 | $ 2,533,210 | $ 94,239 | |||||||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | |||||||
Common stock, shares authorized | 750,000,000 | 750,000,000 | 750,000,000 | 500,000,000 | ||||||
Common stock, shares issued | 541,419,000 | 517,522,000 | ||||||||
Redemption of common units | $ 4,928 | 816 | ||||||||
MPT Operating Partnership, L.P. [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Redemption of common units | $ 4,900 | $ 4,928 | $ 816 | |||||||
MPT Operating Partnership, L.P. [Member] | Medical Properties Trust, LLC. [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Percentage of ownership of general partner | 100.00% | |||||||||
MPT Operating Partnership, L.P. [Member] | Operating Partnership [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Percentage of ownership limited partner | 100.00% | |||||||||
Aberdeen United Kingdom | MPT TRS, Inc [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Percentage of ownership of general partner | 100.00% | |||||||||
At-the-Market Equity Offering Program [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Proceeds from sale of common shares / units, net of offering costs | $ 95,000 | $ 650,000 | ||||||||
At-the-Market Equity Offering Program [Member] | Maximum [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Value of stock | $ 1,000 | |||||||||
Sales commission percentage | 2.00% | |||||||||
Public Offering [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Proceeds from sale of common shares / units, net of offering costs | $ 1,026,000 | $ 6,750 | ||||||||
Common stock, shares issued | 57,500,000 | 51,750,000 | ||||||||
Additional shares purchased by underwriters | 7,500,000 | 858,100,000 | ||||||||
Common Par Value [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Number of share sold | 21,004,000 | 145,349,000 | 5,614,000 | |||||||
Common Par Value [Member] | MPT Operating Partnership, L.P. [Member] | Limited Partner [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Number of share sold | 20,795,000 | 143,894,000 | 5,558,000 | |||||||
Conversion of LTIP units to common units | 232,000 | 232,000 | 60,000 | |||||||
Redemption of common units | $ 4,928 | $ 816 | ||||||||
Common Par Value [Member] | At-the-Market Equity Offering Program [Member] | ||||||||||
Class Of Stock [Line Items] | ||||||||||
Number of share sold | 5,600,000 | 21,000,000 | 36,100,000 |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments - Summary of Fair Value Information of Financial Instruments (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Fair Value Disclosures [Abstract] | ||
Interest and rent receivables, Book value | $ 46,208 | $ 31,357 |
Loans, Book value | 751,341 | 1,704,854 |
Debt, net Book value | (8,865,458) | (7,023,679) |
Interest and rent receivables, Fair value | 45,381 | 30,472 |
Loans, Fair value | 756,608 | 1,742,153 |
Debt, net Fair value | $ (9,226,564) | $ (7,331,816) |
Fair Value of Financial Instr_4
Fair Value of Financial Instruments - Summary of Fair Value Information of Financial Instruments (Parenthetical) (Detail) - Fair Value, Recurring $ in Millions | 12 Months Ended | |
Dec. 31, 2020USD ($)Health_Center | Dec. 31, 2019USD ($)Health_Center | |
Colombia [Member] | ||
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ||
Number of facilities acquired | Health_Center | 3 | |
Acquisition Loans [Member] | ||
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ||
Fair value | $ | $ 205 | $ 205 |
Book value | $ | $ 205 | $ 205 |
Acquisition Loans [Member] | Colombia [Member] | ||
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ||
Number of facilities acquired | Health_Center | 3 | 3 |
Fair Value of Financial Instr_5
Fair Value of Financial Instruments - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2020Health_Center | |
Fair Value, Recurring | Colombia [Member] | |
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | |
Number of facilities acquired | 3 |
Fair Value of Financial Instr_6
Fair Value of Financial Instruments - Equity Interest in Related Party and Related Loans Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Recurring - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Mortgage Loans [Member] | ||
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ||
Fair value | $ 136,332 | $ 115,000 |
Original Cost | 136,332 | $ 115,000 |
Equity Method Investment and Other Loans [Member] | ||
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items] | ||
Fair value | 218,775 | |
Original Cost | $ 218,775 |
Leases (Lessee) - Summary of Le
Leases (Lessee) - Summary of Lease Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Lessee Lease Description [Line Items] | ||||
Operating lease cost | [1],[2] | $ 9,910 | $ 9,262 | |
Finance lease cost: | ||||
Sublease income | $ (4,300) | |||
Total lease cost | 7,475 | 5,952 | ||
Real Estate Depreciation and Amortization [Member] | ||||
Finance lease cost: | ||||
Amortization of right-of-use assets | 51 | 51 | ||
Interest [Member] | ||||
Finance lease cost: | ||||
Interest on lease liabilities | 128 | 117 | ||
Other [Member] | ||||
Finance lease cost: | ||||
Sublease income | $ (2,614) | $ (3,478) | ||
[1] | $6.0 million and $5.8 million included in “Property-related”, with the remainder reflected in the “General and administrative” line of our consolidated statements of net income for 2020 and 2019, respectively. | |||
[2] | Includes short-term leases. |
Leases (Lessee) - Summary of _2
Leases (Lessee) - Summary of Lease Expense (Parenthetical) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Lessee Lease Description [Line Items] | |||
Operating lease cost | [1],[2] | $ 9,910 | $ 9,262 |
Property-related [Member] | |||
Lessee Lease Description [Line Items] | |||
Operating lease cost | $ 6,000 | $ 5,800 | |
[1] | $6.0 million and $5.8 million included in “Property-related”, with the remainder reflected in the “General and administrative” line of our consolidated statements of net income for 2020 and 2019, respectively. | ||
[2] | Includes short-term leases. |
Leases (Lessee) - Additional In
Leases (Lessee) - Additional Information (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Leases [Abstract] | |
Lease expenses | $ 9.4 |
Sublease rental income | $ 4.3 |
Leases (Lessee) - Schedule of F
Leases (Lessee) - Schedule of Fixed Minimum Rental Payments Due under Leases with Non-Cancelable Terms (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | |
Leases [Abstract] | |||
Operating Leases, 2021 | $ 7,186 | ||
Operating Leases, 2022 | 7,384 | ||
Operating Leases, 2023 | 7,451 | ||
Operating Leases, 2024 | 6,557 | ||
Operating Leases, 2025 | 5,660 | ||
Operating Leases, Thereafter | 257,730 | ||
Operating Leases, Total undiscounted minimum lease payments | 291,968 | ||
Operating Leases, Less: interest | (201,962) | ||
Operating Leases, Present value of lease liabilities | 90,006 | $ 76,353 | |
Finance Leases, 2021 | 126 | ||
Finance Leases, 2022 | 128 | ||
Finance Leases, 2023 | 129 | ||
Finance Leases, 2024 | 130 | ||
Finance Leases, 2025 | 131 | ||
Finance Leases, Thereafter | 4,783 | ||
Finance Leases, Total undiscounted minimum lease payments | 5,427 | ||
Finance Leases, Less: interest | (3,492) | ||
Finance Leases, Present value of lease liabilities | 1,935 | $ 1,932 | |
Amounts To Be Received From Subleases, 2021 | (2,952) | ||
Amounts To Be Received From Subleases, 2022 | (3,238) | ||
Amounts To Be Received From Subleases, 2023 | (3,240) | ||
Amounts To Be Received From Subleases, 2024 | (3,259) | ||
Amounts To Be Received From Subleases, 2025 | (3,303) | ||
Amounts To Be Received From Subleases, Thereafter | (78,494) | ||
Amounts To Be Received From Subleases, Total undiscounted minimum lease payments | (94,486) | ||
Net Payments, 2021 | 4,360 | ||
Net Payments, 2022 | 4,274 | ||
Net Payments, 2023 | 4,340 | ||
Net Payments, 2024 | 3,428 | ||
Net Payments, 2025 | 2,488 | ||
Net Payments, Thereafter | [1] | 184,019 | |
Net Payments, Total undiscounted minimum lease payments | $ 202,909 | ||
[1] | Reflects certain ground leases, in which we are the lessee, that have longer initial fixed terms than our existing sublease to our tenants. However, we would expect to either renew the related sublease, enter into a lease with a new tenant, or early terminate the ground lease to reduce or avoid any significant impact from such ground leases. |
Leases (Lessee) - Summary of Su
Leases (Lessee) - Summary of Supplemental Balance Sheet Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Right of use assets: | ||
Operating leases | $ 8,234 | $ 9,866 |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | us-gaap:OtherAssets | |
Total real estate right of use assets | $ 75,209 | 61,380 |
Total right of use assets | 83,443 | 71,246 |
Lease liabilities: | ||
Operating leases | $ 90,006 | 76,353 |
Operating Lease, Liability, Statement of Financial Position [Extensible List] | mpw:ObligationsToTenantsAndOtherLeaseLiabilities | |
Financing leases | $ 1,935 | 1,932 |
Finance Lease, Liability, Statement of Financial Position [Extensible List] | mpw:ObligationsToTenantsAndOtherLeaseLiabilities | |
Total lease liabilities | $ 91,941 | $ 78,285 |
Weighted-average remaining lease term: | ||
Operating leases | 41 years 1 month 6 days | 31 years 10 months 24 days |
Finance leases | 35 years 10 months 24 days | 36 years 10 months 24 days |
Weighted-average discount rate: | ||
Operating leases | 6.40% | 6.30% |
Finance leases | 6.60% | 6.60% |
Real Estate [Member] | ||
Right of use assets: | ||
Operating leases | $ 73,373 | $ 59,492 |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | us-gaap:Land | |
Finance leases | $ 1,836 | $ 1,888 |
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | us-gaap:Land |
Leases (Lessee) - Summary of _3
Leases (Lessee) - Summary of Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cash paid for amounts included in the measurement of lease liabilities: | ||
Operating cash flows from operating leases | $ 6,080 | $ 5,937 |
Operating cash flows from finance leases | 125 | 114 |
Financing cash flows from finance leases | 10 | |
Non-cash activities - Right-of-use assets obtained in exchange for lease obligations: | ||
Operating leases | $ 13,832 | $ 1,818 |
Other Assets - Summary of Other
Other Assets - Summary of Other Assets (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | |
Other Assets [Abstract] | |||
Debt issue costs, net | [1] | $ 192 | $ 2,492 |
Other corporate assets | 167,929 | 206,765 | |
Prepaids and other assets | 87,948 | 90,342 | |
Total other assets | $ 256,069 | $ 299,599 | |
[1] | Relates to our revolving credit facility |
Other Assets - Additional Infor
Other Assets - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Other Assets [Abstract] | ||
Equity investments | $ 1,123,623 | $ 926,990 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - USD ($) $ in Thousands, shares in Millions | Jan. 15, 2021 | Jan. 11, 2021 | Nov. 08, 2019 | Jul. 18, 2019 | Feb. 01, 2017 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Subsequent Event [Line Items] | ||||||||
Proceeds from sale of common shares, net of offering costs | $ 411,101 | $ 2,533,210 | $ 94,239 | |||||
Minimum [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Commitment fee | 0.125% | |||||||
Maximum [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Commitment fee | 0.30% | |||||||
Term Loan [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Amount of senior unsecured debt | $ 200,000 | |||||||
Debt instrument maturity date | Feb. 1, 2022 | |||||||
Unsecured Revolving Credit Facility [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Amount of senior unsecured debt | $ 1,300,000 | |||||||
Debt instrument, maturity month and year | 2021-02 | |||||||
Alternate Base Rate [Member] | Minimum [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Applicable margin for revolving loans | 0.00% | |||||||
Alternate Base Rate [Member] | Maximum [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Applicable margin for revolving loans | 0.65% | |||||||
Eurodollar Loans [Member] | Minimum [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Applicable margin for revolving loans | 0.875% | |||||||
Eurodollar Loans [Member] | Maximum [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Applicable margin for revolving loans | 1.65% | |||||||
Subsequent Event [Member] | Minimum [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Commitment fee | 0.125% | |||||||
Subsequent Event [Member] | Maximum [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Commitment fee | 0.30% | |||||||
Subsequent Event [Member] | Term Loan [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Amount of senior unsecured debt | $ 200,000 | |||||||
Debt instrument maturity date | Feb. 1, 2026 | |||||||
Subsequent Event [Member] | Unsecured Revolving Credit Facility [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Debt instrument, maturity month and year | 2024-02 | |||||||
Subsequent Event [Member] | Alternate Base Rate [Member] | Minimum [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Applicable margin for term loan | 0.00% | |||||||
Applicable margin for revolving loans | 0.00% | |||||||
Subsequent Event [Member] | Alternate Base Rate [Member] | Maximum [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Applicable margin for term loan | 0.85% | |||||||
Applicable margin for revolving loans | 0.55% | |||||||
Subsequent Event [Member] | Eurodollar Loans [Member] | Minimum [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Applicable margin for term loan | 0.85% | |||||||
Applicable margin for revolving loans | 0.825% | |||||||
Subsequent Event [Member] | Eurodollar Loans [Member] | Maximum [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Applicable margin for term loan | 1.85% | |||||||
Applicable margin for revolving loans | 1.55% | |||||||
Public Offering [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Proceeds from sale of common shares, net of offering costs | $ 1,026,000 | $ 6,750 | ||||||
Public Offering [Member] | Subsequent Event [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Shares issued in underwritten public offering | 36.8 | |||||||
Proceeds from sale of common shares, net of offering costs | $ 711,000 | |||||||
Over-Allotment Option [Member] | Subsequent Event [Member] | ||||||||
Subsequent Event [Line Items] | ||||||||
Shares issued in underwritten public offering | 4.8 |
Schedule II - Schedule of Valua
Schedule II - Schedule of Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Valuation And Qualifying Accounts [Abstract] | |||
Balance at Beginning of Year | $ 109,803 | $ 66,131 | $ 16,397 |
Additions, Charged Against Operations | 58,044 | 50,893 | 57,285 |
Addition, Charged to Other Accounts | 22,944 | ||
Deductions, Net Recoveries/Write-offs | (44,154) | (7,221) | (7,551) |
Balance at End of Year | $ 146,637 | $ 109,803 | $ 66,131 |
Schedule II - Schedule of Val_2
Schedule II - Schedule of Valuation and Qualifying Accounts (Parenthetical) (Detail) - USD ($) $ in Millions | Jan. 08, 2020 | Dec. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Jan. 01, 2020 |
Increase in real estate impairment reserves | $ 19 | $ 21 | $ 48 | |||
Increase in accounts receivable and other reserves | 23.9 | 22 | ||||
Increase (decrease) in valuation allowances | 0.8 | |||||
Valuation allowances recorded as part of the purchase price allocation of the Circle Transaction | $ 14.5 | |||||
Increase (decrease) in real estate impairment reserves related to disposals | 40.5 | (7.2) | ||||
Credit loss recovery related to loan paydowns | 2.9 | |||||
Increase in accounts receivable reserves | 9.3 | |||||
Increase in credit loss reserves on financing-type receivables | 3.3 | |||||
Accounting Standards Update 2016-13 | ||||||
Credit loss reserve expected | $ 8.4 | |||||
Domestic Valuation Allowances [Member] | ||||||
Increase (decrease) in valuation allowances | $ (4.4) | |||||
Valuation Allowance, Deferred Tax Asset [Member] | ||||||
Increase (decrease) in valuation allowances | $ 11.9 | $ 7.9 | $ (7.7) |
Schedule III - Real Estate In_2
Schedule III - Real Estate Investments and Accumulated Depreciation (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Initial costs, land | $ 1,442,071 | |||
Initial costs, buildings | 8,857,393 | |||
Additions subsequent to acquisition, Improvements | 428,465 | |||
Additions subsequent to acquisition, carrying costs | 21,778 | |||
Land at cost | 1,463,201 | |||
Buildings at cost | 9,286,506 | |||
Total at cost | 10,749,707 | $ 7,312,486 | $ 4,781,149 | $ 5,438,148 |
Accumulated Depreciation | $ 728,176 | $ 504,651 | ||
Princes Risborough, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 5,006 | |||
Land at cost | 5,006 | |||
Total at cost | 5,006 | |||
Encumbrances | $ 0 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1981 [Member] | Ashtead, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 39,518 | |||
Initial costs, buildings | 76,020 | |||
Additions subsequent to acquisition, Improvements | 1,029 | |||
Land at cost | 40,547 | |||
Buildings at cost | 76,020 | |||
Total at cost | 116,567 | |||
Accumulated Depreciation | 2,648 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1981 | |||
Date Acquired | Aug. 16, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1981 [Member] | Beckenham, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 5,810 | |||
Initial costs, buildings | 22,493 | |||
Additions subsequent to acquisition, Improvements | 55 | |||
Land at cost | 5,864 | |||
Buildings at cost | 22,494 | |||
Total at cost | 28,358 | |||
Accumulated Depreciation | 566 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1981 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1981 [Member] | Cheadle, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 32,808 | |||
Initial costs, buildings | 174,982 | |||
Additions subsequent to acquisition, Improvements | 410 | |||
Land at cost | 33,218 | |||
Buildings at cost | 174,982 | |||
Total at cost | 208,200 | |||
Accumulated Depreciation | 4,401 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1981 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1981 [Member] | Dorchester, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 533 | |||
Initial costs, buildings | 33,653 | |||
Additions subsequent to acquisition, Improvements | 62 | |||
Land at cost | 595 | |||
Buildings at cost | 33,653 | |||
Total at cost | 34,248 | |||
Accumulated Depreciation | 845 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1981 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1981 [Member] | Euxton, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 4,088 | |||
Initial costs, buildings | 38,183 | |||
Additions subsequent to acquisition, Improvements | 870 | |||
Land at cost | 4,958 | |||
Buildings at cost | 38,183 | |||
Total at cost | 43,141 | |||
Accumulated Depreciation | 1,369 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1981 | |||
Date Acquired | Aug. 16, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1981 [Member] | Great Missenden, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 12,303 | |||
Initial costs, buildings | 112,924 | |||
Additions subsequent to acquisition, Improvements | 335 | |||
Land at cost | 12,638 | |||
Buildings at cost | 112,924 | |||
Total at cost | 125,562 | |||
Accumulated Depreciation | 2,845 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1981 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1981 [Member] | Torquay, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,840 | |||
Initial costs, buildings | 38,379 | |||
Additions subsequent to acquisition, Improvements | 360 | |||
Land at cost | 3,200 | |||
Buildings at cost | 38,379 | |||
Total at cost | 41,579 | |||
Accumulated Depreciation | 1,319 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1981 | |||
Date Acquired | Aug. 16, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2008 [Member] | Bath, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,620 | |||
Initial costs, buildings | 33,584 | |||
Land at cost | 1,620 | |||
Buildings at cost | 33,584 | |||
Total at cost | 35,204 | |||
Accumulated Depreciation | 5,457 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2008 | |||
Date Acquired | Jul. 1, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2008 [Member] | Boise, ID [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Long term acute care hospital | |||
Initial costs, land | $ 1,558 | |||
Initial costs, buildings | 11,027 | |||
Land at cost | 1,558 | |||
Buildings at cost | 11,027 | |||
Total at cost | 12,585 | |||
Accumulated Depreciation | 634 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2008 | |||
Date Acquired | Feb. 29, 2012 | |||
Life on which depreciation in latest income statements is computed (Years) | 50 years | |||
2008 [Member] | Boardman, OH [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Long term acute care hospital | |||
Initial costs, land | $ 79 | |||
Initial costs, buildings | 275 | |||
Land at cost | 79 | |||
Buildings at cost | 275 | |||
Total at cost | 354 | |||
Accumulated Depreciation | 10 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2008 | |||
Date Acquired | Aug. 30, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2008 [Member] | Crown Point, IN [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Long term acute care hospital | |||
Initial costs, land | $ 302 | |||
Initial costs, buildings | 528 | |||
Land at cost | 302 | |||
Buildings at cost | 528 | |||
Total at cost | 830 | |||
Accumulated Depreciation | 22 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2008 | |||
Date Acquired | Aug. 30, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2008 [Member] | Denville, NJ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 15,709 | |||
Initial costs, buildings | 55,772 | |||
Land at cost | 15,709 | |||
Buildings at cost | 55,772 | |||
Total at cost | 71,481 | |||
Accumulated Depreciation | 254 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2008 | |||
Date Acquired | Sep. 30, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2008 [Member] | Dover, NJ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 3,865 | |||
Initial costs, buildings | 8,693 | |||
Land at cost | 3,865 | |||
Buildings at cost | 8,693 | |||
Total at cost | 12,558 | |||
Accumulated Depreciation | 42 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2008 | |||
Date Acquired | Sep. 30, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2008 [Member] | Lubbock, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 1,376 | |||
Initial costs, buildings | 28,292 | |||
Additions subsequent to acquisition, Improvements | 3,648 | |||
Land at cost | 1,376 | |||
Buildings at cost | 31,940 | |||
Total at cost | 33,316 | |||
Accumulated Depreciation | 4,281 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2008 | |||
Date Acquired | Jun. 16, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2008 [Member] | Sheffield, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 6,835 | |||
Initial costs, buildings | 47,906 | |||
Additions subsequent to acquisition, Improvements | 267 | |||
Land at cost | 7,102 | |||
Buildings at cost | 47,906 | |||
Total at cost | 55,008 | |||
Accumulated Depreciation | 1,215 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2008 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1887 [Member} | Bassenheim, Germany [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 1,081 | |||
Initial costs, buildings | 5,853 | |||
Additions subsequent to acquisition, Improvements | 183 | |||
Land at cost | 1,264 | |||
Buildings at cost | 5,853 | |||
Total at cost | 7,117 | |||
Accumulated Depreciation | 311 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1887 | |||
Date Acquired | Feb. 9, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 39 years | |||
2009 [Member] | Bath, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,620 | |||
Initial costs, buildings | 33,584 | |||
Land at cost | 1,620 | |||
Buildings at cost | 33,584 | |||
Total at cost | 35,204 | |||
Accumulated Depreciation | 5,457 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2009 | |||
Date Acquired | Jul. 1, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2009 [Member] | Brighton, MA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 18,540 | |||
Initial costs, buildings | 146,491 | |||
Additions subsequent to acquisition, Improvements | 39,279 | |||
Land at cost | 18,540 | |||
Buildings at cost | 185,770 | |||
Total at cost | 204,310 | |||
Accumulated Depreciation | 16,411 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2009 | |||
Date Acquired | Oct. 3, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
2009 [Member] | Folsom, CA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Long term acute care hospital | |||
Initial costs, land | $ 3,291 | |||
Initial costs, buildings | 21,293 | |||
Land at cost | 3,291 | |||
Buildings at cost | 21,293 | |||
Total at cost | 24,584 | |||
Accumulated Depreciation | 843 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2009 | |||
Date Acquired | Aug. 30, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1983 [Member] | Bassenheim, Germany [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 1,081 | |||
Initial costs, buildings | 5,853 | |||
Additions subsequent to acquisition, Improvements | 183 | |||
Land at cost | 1,264 | |||
Buildings at cost | 5,853 | |||
Total at cost | 7,117 | |||
Accumulated Depreciation | 311 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1983 | |||
Date Acquired | Feb. 9, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 39 years | |||
1983 [Member] | Grefath, Germany [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 1,220 | |||
Initial costs, buildings | 3,351 | |||
Additions subsequent to acquisition, Improvements | 108 | |||
Land at cost | 1,328 | |||
Buildings at cost | 3,351 | |||
Total at cost | 4,679 | |||
Accumulated Depreciation | 212 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1983 | |||
Date Acquired | Aug. 28, 2018 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1983 [Member] | Remscheid, Germany [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 1,097 | |||
Initial costs, buildings | 2,797 | |||
Additions subsequent to acquisition, Improvements | 64 | |||
Land at cost | 1,161 | |||
Buildings at cost | 2,797 | |||
Total at cost | 3,958 | |||
Accumulated Depreciation | 173 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1983 | |||
Date Acquired | Aug. 28, 2018 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1983 [Member] | Glasgow, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 6,767 | |||
Initial costs, buildings | 141,275 | |||
Additions subsequent to acquisition, Improvements | 150 | |||
Land at cost | 6,917 | |||
Buildings at cost | 141,275 | |||
Total at cost | 148,192 | |||
Accumulated Depreciation | 3,542 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1983 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1983 [Member] | Lander, WY [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 761 | |||
Initial costs, buildings | 42,849 | |||
Land at cost | 761 | |||
Buildings at cost | 42,849 | |||
Total at cost | 43,610 | |||
Accumulated Depreciation | 1,145 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1983 | |||
Date Acquired | Dec. 17, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1983 [Member] | Port Huron, MI [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,531 | |||
Initial costs, buildings | 14,252 | |||
Land at cost | 2,531 | |||
Buildings at cost | 14,252 | |||
Total at cost | 16,783 | |||
Accumulated Depreciation | 2,434 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1983 | |||
Date Acquired | Dec. 31, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 30 years | |||
1983 [Member] | Milton Keynes, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 5,536 | |||
Initial costs, buildings | 38,506 | |||
Additions subsequent to acquisition, Improvements | 96 | |||
Land at cost | 5,632 | |||
Buildings at cost | 38,506 | |||
Total at cost | 44,138 | |||
Accumulated Depreciation | 969 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1983 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1983 [Member] | Nottingham, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 5,058 | |||
Initial costs, buildings | 49,340 | |||
Additions subsequent to acquisition, Improvements | 260 | |||
Land at cost | 5,318 | |||
Buildings at cost | 49,340 | |||
Total at cost | 54,658 | |||
Accumulated Depreciation | 1,251 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1983 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1983 [Member] | Riverton, WY [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,163 | |||
Initial costs, buildings | 29,647 | |||
Land at cost | 1,163 | |||
Buildings at cost | 29,647 | |||
Total at cost | 30,810 | |||
Accumulated Depreciation | 919 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1983 | |||
Date Acquired | Dec. 17, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 36 years | |||
1983 [Member] | Watsonville CA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 16,488 | |||
Initial costs, buildings | 17,800 | |||
Land at cost | 16,488 | |||
Buildings at cost | 17,800 | |||
Total at cost | 34,288 | |||
Accumulated Depreciation | 818 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1983 | |||
Date Acquired | Sep. 30, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 39 years | |||
1983 [Member] | West Jordan UT [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 16,896 | |||
Initial costs, buildings | 233,256 | |||
Additions subsequent to acquisition, Improvements | 3,319 | |||
Land at cost | 16,896 | |||
Buildings at cost | 236,575 | |||
Total at cost | 253,471 | |||
Accumulated Depreciation | 3,185 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1983 | |||
Date Acquired | Sep. 29, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1977 [Member] | Braunfels, Germany [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,345 | |||
Initial costs, buildings | 14,992 | |||
Additions subsequent to acquisition, Improvements | 62 | |||
Land at cost | 2,407 | |||
Buildings at cost | 14,992 | |||
Total at cost | 17,399 | |||
Accumulated Depreciation | 2,084 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1977 | |||
Date Acquired | Jun. 30, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1977 [Member] | London, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 13,342 | |||
Initial costs, buildings | 87,261 | |||
Additions subsequent to acquisition, Improvements | 27 | |||
Land at cost | 13,369 | |||
Buildings at cost | 87,261 | |||
Total at cost | 100,630 | |||
Accumulated Depreciation | 2,183 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1977 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1885 [Member] | Heidelberg, Germany [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 6,823 | |||
Initial costs, buildings | 39,424 | |||
Additions subsequent to acquisition, Improvements | 79 | |||
Land at cost | 6,902 | |||
Buildings at cost | 39,424 | |||
Total at cost | 46,326 | |||
Accumulated Depreciation | 4,459 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1885 | |||
Date Acquired | Jun. 22, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1991 [Member] | Heidelberg, Germany [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 6,823 | |||
Initial costs, buildings | 39,424 | |||
Additions subsequent to acquisition, Improvements | 79 | |||
Land at cost | 6,902 | |||
Buildings at cost | 39,424 | |||
Total at cost | 46,326 | |||
Accumulated Depreciation | 4,459 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1991 | |||
Date Acquired | Jun. 22, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1991 [Member] | Fresno, CA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 5,507 | |||
Initial costs, buildings | 70,473 | |||
Land at cost | 5,507 | |||
Buildings at cost | 70,473 | |||
Total at cost | 75,980 | |||
Accumulated Depreciation | 2,532 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1991 | |||
Date Acquired | Aug. 30, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1992 [Member] | Bath, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 7,519 | |||
Initial costs, buildings | 14,016 | |||
Additions subsequent to acquisition, Improvements | 205 | |||
Land at cost | 7,724 | |||
Buildings at cost | 14,016 | |||
Total at cost | 21,740 | |||
Accumulated Depreciation | 364 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1992 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1992 [Member] | Bowling Green, KY [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 3,486 | |||
Initial costs, buildings | 56,296 | |||
Land at cost | 3,486 | |||
Buildings at cost | 56,296 | |||
Total at cost | 59,782 | |||
Accumulated Depreciation | 2,092 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1992 | |||
Date Acquired | Aug. 30, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1992 [Member] | Wichita, KS [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 1,019 | |||
Initial costs, buildings | 18,373 | |||
Additions subsequent to acquisition, carrying costs | 1 | |||
Land at cost | 1,019 | |||
Buildings at cost | 18,374 | |||
Total at cost | 19,393 | |||
Accumulated Depreciation | 5,856 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1992 | |||
Date Acquired | Apr. 4, 2008 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2018 [Member] | Birmingham, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, buildings | $ 20,011 | |||
Buildings at cost | 20,011 | |||
Total at cost | 20,011 | |||
Accumulated Depreciation | 249 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2018 | |||
Date Acquired | Jun. 29, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2018 [Member] | El Paso, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 4,268 | |||
Initial costs, buildings | 21,328 | |||
Land at cost | 4,268 | |||
Buildings at cost | 21,328 | |||
Total at cost | 25,596 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2018 | |||
Date Acquired | Dec. 17, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 38 years | |||
2018 [Member] | Olathe, KS [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 3,485 | |||
Initial costs, buildings | 14,484 | |||
Land at cost | 3,485 | |||
Buildings at cost | 14,484 | |||
Total at cost | 17,969 | |||
Accumulated Depreciation | 498 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2018 | |||
Date Acquired | Jun. 10, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 50 years | |||
2018 [Member] | Roeland Park, KS [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,569 | |||
Initial costs, buildings | 15,103 | |||
Land at cost | 1,569 | |||
Buildings at cost | 15,103 | |||
Total at cost | 16,672 | |||
Accumulated Depreciation | 509 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2018 | |||
Date Acquired | Jun. 10, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 50 years | |||
2018 [Member] | Shawnee, KS [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 3,076 | |||
Initial costs, buildings | 14,945 | |||
Land at cost | 3,076 | |||
Buildings at cost | 14,945 | |||
Total at cost | 18,021 | |||
Accumulated Depreciation | 587 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2018 | |||
Date Acquired | Jun. 10, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 50 years | |||
2011 [Member] | Cologne, Germany [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 4,788 | |||
Initial costs, buildings | 16,560 | |||
Additions subsequent to acquisition, Improvements | 111 | |||
Land at cost | 4,899 | |||
Buildings at cost | 16,560 | |||
Total at cost | 21,459 | |||
Accumulated Depreciation | 1,475 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2011 | |||
Date Acquired | Jun. 23, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2011 [Member] | Methuen, MA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 23,809 | |||
Initial costs, buildings | 89,505 | |||
Additions subsequent to acquisition, Improvements | 9,184 | |||
Land at cost | 23,809 | |||
Buildings at cost | 98,689 | |||
Total at cost | 122,498 | |||
Accumulated Depreciation | 11,290 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2011 | |||
Date Acquired | Oct. 3, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
2011 [Member] | New Braunfels, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 1,853 | |||
Initial costs, buildings | 10,622 | |||
Land at cost | 1,853 | |||
Buildings at cost | 10,622 | |||
Total at cost | 12,475 | |||
Accumulated Depreciation | 23 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2011 | |||
Date Acquired | Feb. 29, 2012 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2017 [Member] | Birmingham, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 9,397 | |||
Initial costs, buildings | 48,175 | |||
Land at cost | 9,397 | |||
Buildings at cost | 48,175 | |||
Total at cost | 57,572 | |||
Accumulated Depreciation | 599 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2017 | |||
Date Acquired | Apr. 3, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2017 [Member] | Houston, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,903 | |||
Initial costs, buildings | 1,276 | |||
Land at cost | 1,903 | |||
Buildings at cost | 1,276 | |||
Total at cost | 3,179 | |||
Accumulated Depreciation | 408 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2017 | |||
Date Acquired | May 8, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 35 years | |||
2017 [Member] | Kansas City, KS [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,351 | |||
Initial costs, buildings | 13,665 | |||
Land at cost | 2,351 | |||
Buildings at cost | 13,665 | |||
Total at cost | 16,016 | |||
Accumulated Depreciation | 468 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2017 | |||
Date Acquired | Jun. 10, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 50 years | |||
2017 [Member] | Phoenix, AZ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,132 | |||
Initial costs, buildings | 5,052 | |||
Land at cost | 1,132 | |||
Buildings at cost | 5,052 | |||
Total at cost | 6,184 | |||
Accumulated Depreciation | 474 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2017 | |||
Date Acquired | Apr. 13, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2017 [Member] | Leawood, KS [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,513 | |||
Initial costs, buildings | 13,938 | |||
Land at cost | 2,513 | |||
Buildings at cost | 13,938 | |||
Total at cost | 16,451 | |||
Accumulated Depreciation | 474 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2017 | |||
Date Acquired | Jun. 10, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 50 years | |||
2017 [Member] | Overland Park, KS [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,974 | |||
Initial costs, buildings | 14,405 | |||
Land at cost | 2,974 | |||
Buildings at cost | 14,405 | |||
Total at cost | 17,379 | |||
Accumulated Depreciation | 498 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2017 | |||
Date Acquired | Jun. 10, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 50 years | |||
2017 [Member] | Austin, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 3,782 | |||
Initial costs, buildings | 4,200 | |||
Land at cost | 3,782 | |||
Buildings at cost | 4,200 | |||
Total at cost | 7,982 | |||
Accumulated Depreciation | 434 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2017 | |||
Date Acquired | Mar. 2, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2017 [Member] | Texarkana T X | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 14,562 | |||
Land at cost | 14,562 | |||
Total at cost | 14,562 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2017 | |||
Date Acquired | Sep. 29, 2017 | |||
1974 [Member] | Bad Salzuflen, Germany [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 10,624 | |||
Initial costs, buildings | 29,415 | |||
Additions subsequent to acquisition, Improvements | 999 | |||
Land at cost | 11,623 | |||
Buildings at cost | 29,415 | |||
Total at cost | 41,038 | |||
Accumulated Depreciation | 2,473 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1974 | |||
Date Acquired | Nov. 30, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1974 [Member] | Redding, CA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,555 | |||
Initial costs, buildings | 53,863 | |||
Additions subsequent to acquisition, carrying costs | 13 | |||
Land at cost | 1,555 | |||
Buildings at cost | 53,876 | |||
Total at cost | 55,431 | |||
Accumulated Depreciation | 18,079 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1974 | |||
Date Acquired | Aug. 10, 2007 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1974 [Member] | Sebastian, FL [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 5,733 | |||
Initial costs, buildings | 49,136 | |||
Additions subsequent to acquisition, Improvements | 52,394 | |||
Land at cost | 5,733 | |||
Buildings at cost | 101,530 | |||
Total at cost | 107,263 | |||
Accumulated Depreciation | 5,392 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1974 | |||
Date Acquired | May 1, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
1982 [Member] | Birmingham, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 10,317 | |||
Initial costs, buildings | 100,791 | |||
Additions subsequent to acquisition, Improvements | 390 | |||
Land at cost | 10,707 | |||
Buildings at cost | 100,791 | |||
Total at cost | 111,498 | |||
Accumulated Depreciation | 2,545 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1982 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1982 [Member] | Bedford, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,599 | |||
Initial costs, buildings | 8,057 | |||
Additions subsequent to acquisition, Improvements | 55 | |||
Land at cost | 1,654 | |||
Buildings at cost | 8,057 | |||
Total at cost | 9,711 | |||
Accumulated Depreciation | 205 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1982 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1982 [Member] | Bossier City, LA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Long term acute care hospital | |||
Initial costs, land | $ 900 | |||
Initial costs, buildings | 17,818 | |||
Additions subsequent to acquisition, Improvements | 944 | |||
Land at cost | 900 | |||
Buildings at cost | 18,762 | |||
Total at cost | 19,662 | |||
Accumulated Depreciation | 5,736 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1982 | |||
Date Acquired | Apr. 1, 2008 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1982 [Member] | Cheraw, SC [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 657 | |||
Initial costs, buildings | 19,576 | |||
Land at cost | 657 | |||
Buildings at cost | 19,576 | |||
Total at cost | 20,233 | |||
Accumulated Depreciation | 6,675 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1982 | |||
Date Acquired | Apr. 1, 2008 | |||
Life on which depreciation in latest income statements is computed (Years) | 42 years | |||
1982 [Member] | Caterham, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 10,927 | |||
Initial costs, buildings | 22,384 | |||
Additions subsequent to acquisition, Improvements | 403 | |||
Land at cost | 11,330 | |||
Buildings at cost | 22,384 | |||
Total at cost | 33,714 | |||
Accumulated Depreciation | 791 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1982 | |||
Date Acquired | Aug. 16, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1982 [Member] | Canterbury, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 9,774 | |||
Initial costs, buildings | 29,624 | |||
Additions subsequent to acquisition, Improvements | 89 | |||
Land at cost | 9,863 | |||
Buildings at cost | 29,624 | |||
Total at cost | 39,487 | |||
Accumulated Depreciation | 746 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1982 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1982 [Member] | Croydon, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 10,458 | |||
Initial costs, buildings | 44,782 | |||
Additions subsequent to acquisition, Improvements | 218 | |||
Land at cost | 10,676 | |||
Buildings at cost | 44,782 | |||
Total at cost | 55,458 | |||
Accumulated Depreciation | 1,134 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1982 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1982 [Member] | Warren, OH [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 5,385 | |||
Initial costs, buildings | 47,588 | |||
Additions subsequent to acquisition, Improvements | 9,893 | |||
Land at cost | 5,385 | |||
Buildings at cost | 57,481 | |||
Total at cost | 62,866 | |||
Accumulated Depreciation | 5,935 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1982 | |||
Date Acquired | May 1, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
1982 [Member] | Haverhill, MA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 5,651 | |||
Initial costs, buildings | 105,848 | |||
Additions subsequent to acquisition, Improvements | 3,384 | |||
Land at cost | 5,651 | |||
Buildings at cost | 109,232 | |||
Total at cost | 114,883 | |||
Accumulated Depreciation | 6,674 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1982 | |||
Date Acquired | Aug. 31, 2018 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1982 [Member] | Garden Grove, CA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 5,502 | |||
Initial costs, buildings | 10,748 | |||
Additions subsequent to acquisition, carrying costs | 51 | |||
Land at cost | 5,502 | |||
Buildings at cost | 10,799 | |||
Total at cost | 16,301 | |||
Accumulated Depreciation | 3,277 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1982 | |||
Date Acquired | Nov. 25, 2008 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | Bad Salzuflen, Germany [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 10,624 | |||
Initial costs, buildings | 29,415 | |||
Additions subsequent to acquisition, Improvements | 999 | |||
Land at cost | 11,623 | |||
Buildings at cost | 29,415 | |||
Total at cost | 41,038 | |||
Accumulated Depreciation | 2,473 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Nov. 30, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | Houston, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 950 | |||
Initial costs, buildings | 3,996 | |||
Land at cost | 950 | |||
Buildings at cost | 3,996 | |||
Total at cost | 4,946 | |||
Accumulated Depreciation | 425 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Sep. 26, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | New Orleans, LA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 2,850 | |||
Initial costs, buildings | 6,125 | |||
Land at cost | 2,850 | |||
Buildings at cost | 6,125 | |||
Total at cost | 8,975 | |||
Accumulated Depreciation | 651 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Sep. 23, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | Katy, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,604 | |||
Initial costs, buildings | 4,174 | |||
Land at cost | 1,604 | |||
Buildings at cost | 4,174 | |||
Total at cost | 5,778 | |||
Accumulated Depreciation | 443 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Oct. 10, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | The Woodlands, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 2,019 | |||
Initial costs, buildings | 4,524 | |||
Land at cost | 2,019 | |||
Buildings at cost | 4,524 | |||
Total at cost | 6,543 | |||
Accumulated Depreciation | 537 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Mar. 28, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | DeSoto, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 750 | |||
Initial costs, buildings | 4,234 | |||
Land at cost | 750 | |||
Buildings at cost | 4,234 | |||
Total at cost | 4,984 | |||
Accumulated Depreciation | 485 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | May 23, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | San Antonio, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 3,216 | |||
Initial costs, buildings | 4,801 | |||
Land at cost | 3,216 | |||
Buildings at cost | 4,801 | |||
Total at cost | 8,017 | |||
Accumulated Depreciation | 490 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Dec. 9, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | Glendale, AZ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,144 | |||
Initial costs, buildings | 6,087 | |||
Land at cost | 1,144 | |||
Buildings at cost | 6,087 | |||
Total at cost | 7,231 | |||
Accumulated Depreciation | 634 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Oct. 21, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | Goodyear, AZ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,800 | |||
Initial costs, buildings | 4,713 | |||
Land at cost | 1,800 | |||
Buildings at cost | 4,713 | |||
Total at cost | 6,513 | |||
Accumulated Depreciation | 560 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Apr. 4, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | Flagstaff, AZ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 3,049 | |||
Initial costs, buildings | 22,464 | |||
Land at cost | 3,049 | |||
Buildings at cost | 22,464 | |||
Total at cost | 25,513 | |||
Accumulated Depreciation | 1,591 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Aug. 23, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | Helotes, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,900 | |||
Initial costs, buildings | 5,115 | |||
Land at cost | 1,900 | |||
Buildings at cost | 5,115 | |||
Total at cost | 7,015 | |||
Accumulated Depreciation | 618 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Mar. 10, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | Garland, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 3,441 | |||
Initial costs, buildings | 4,648 | |||
Land at cost | 3,441 | |||
Buildings at cost | 4,648 | |||
Total at cost | 8,089 | |||
Accumulated Depreciation | 484 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Nov. 15, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | Highlands Ranch, CO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 4,200 | |||
Initial costs, buildings | 4,779 | |||
Land at cost | 4,200 | |||
Buildings at cost | 4,779 | |||
Total at cost | 8,979 | |||
Accumulated Depreciation | 528 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Jul. 25, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | Longmont, CO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,826 | |||
Initial costs, buildings | 4,181 | |||
Land at cost | 1,826 | |||
Buildings at cost | 4,181 | |||
Total at cost | 6,007 | |||
Accumulated Depreciation | 514 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Feb. 10, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | Mandeville, LA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 2,800 | |||
Initial costs, buildings | 5,370 | |||
Land at cost | 2,800 | |||
Buildings at cost | 5,370 | |||
Total at cost | 8,170 | |||
Accumulated Depreciation | 559 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Oct. 28, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | Marrero, LA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,632 | |||
Initial costs, buildings | 5,801 | |||
Land at cost | 1,632 | |||
Buildings at cost | 5,801 | |||
Total at cost | 7,433 | |||
Accumulated Depreciation | 653 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Jul. 15, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | Plano, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 4,343 | |||
Initial costs, buildings | 2,492 | |||
Land at cost | 4,343 | |||
Buildings at cost | 2,492 | |||
Total at cost | 6,835 | |||
Accumulated Depreciation | 375 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Sep. 30, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | San Antonio, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 2,485 | |||
Initial costs, buildings | 4,253 | |||
Land at cost | 2,485 | |||
Buildings at cost | 4,253 | |||
Total at cost | 6,738 | |||
Accumulated Depreciation | 443 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Oct. 27, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | Rosenberg, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,309 | |||
Initial costs, buildings | 4,505 | |||
Land at cost | 1,309 | |||
Buildings at cost | 4,505 | |||
Total at cost | 5,814 | |||
Accumulated Depreciation | 563 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Jan. 15, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | Columbus, OH [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,726 | |||
Land at cost | 1,726 | |||
Total at cost | 1,726 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Aug. 30, 2016 | |||
2016 [Member] | Houston, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 4,047 | |||
Initial costs, buildings | 36,862 | |||
Land at cost | 4,047 | |||
Buildings at cost | 36,862 | |||
Total at cost | 40,909 | |||
Accumulated Depreciation | 4,147 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Jul. 7, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | Toledo, OH [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 1,186 | |||
Initial costs, buildings | 17,740 | |||
Land at cost | 1,186 | |||
Buildings at cost | 17,740 | |||
Total at cost | 18,926 | |||
Accumulated Depreciation | 2,107 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Apr. 1, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 [Member] | Viseu, Portugal [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,319 | |||
Initial costs, buildings | 31,963 | |||
Additions subsequent to acquisition, Improvements | 486 | |||
Land at cost | 2,805 | |||
Buildings at cost | 31,963 | |||
Total at cost | 34,768 | |||
Accumulated Depreciation | 971 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Nov. 28, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 37 years | |||
1989 [Member] | Bad Salzuflen, Germany [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 7,523 | |||
Initial costs, buildings | 25,869 | |||
Additions subsequent to acquisition, Improvements | 376 | |||
Land at cost | 7,899 | |||
Buildings at cost | 25,869 | |||
Total at cost | 33,768 | |||
Accumulated Depreciation | 2,072 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1989 | |||
Date Acquired | Nov. 30, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1989 [Member] | Bolton, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,640 | |||
Initial costs, buildings | 47,818 | |||
Additions subsequent to acquisition, Improvements | 62 | |||
Land at cost | 1,702 | |||
Buildings at cost | 47,818 | |||
Total at cost | 49,520 | |||
Accumulated Depreciation | 1,199 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1989 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1989 [Member] | Guildford, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 7,259 | |||
Initial costs, buildings | 39,114 | |||
Additions subsequent to acquisition, Improvements | 130 | |||
Land at cost | 7,389 | |||
Buildings at cost | 39,114 | |||
Total at cost | 46,503 | |||
Accumulated Depreciation | 986 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1989 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1989 [Member] | Lynwood, CA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 30,116 | |||
Initial costs, buildings | 148,527 | |||
Land at cost | 30,116 | |||
Buildings at cost | 148,527 | |||
Total at cost | 178,643 | |||
Accumulated Depreciation | 1,555 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1989 | |||
Date Acquired | Aug. 13, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1989 [Member] | Richmond, VA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Long term acute care hospital | |||
Initial costs, land | $ 1,304 | |||
Initial costs, buildings | 10,071 | |||
Land at cost | 1,304 | |||
Buildings at cost | 10,071 | |||
Total at cost | 11,375 | |||
Accumulated Depreciation | 435 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1989 | |||
Date Acquired | Aug. 30, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1989 [Member] | Rochdale, MA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Long term acute care hospital | |||
Initial costs, land | $ 654 | |||
Initial costs, buildings | 3,368 | |||
Land at cost | 654 | |||
Buildings at cost | 3,368 | |||
Total at cost | 4,022 | |||
Accumulated Depreciation | 132 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1989 | |||
Date Acquired | Aug. 30, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1989 [Member] | Rochdale, MA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 67 | |||
Initial costs, buildings | 344 | |||
Land at cost | 67 | |||
Buildings at cost | 344 | |||
Total at cost | 411 | |||
Accumulated Depreciation | 13 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1989 | |||
Date Acquired | Aug. 30, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2016 One [Member] | Bad Salzuflen, Germany [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 7,523 | |||
Initial costs, buildings | 25,869 | |||
Additions subsequent to acquisition, Improvements | 376 | |||
Land at cost | 7,899 | |||
Buildings at cost | 25,869 | |||
Total at cost | 33,768 | |||
Accumulated Depreciation | 2,072 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2016 | |||
Date Acquired | Nov. 30, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1960 [Member] | Houston, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 3,501 | |||
Initial costs, buildings | 34,530 | |||
Additions subsequent to acquisition, Improvements | 8,477 | |||
Additions subsequent to acquisition, carrying costs | 16,589 | |||
Land at cost | 3,274 | |||
Buildings at cost | 59,823 | |||
Total at cost | 63,097 | |||
Accumulated Depreciation | 16,224 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1960 | |||
Date Acquired | Aug. 10, 2007 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1960 [Member] | Meyersdale, PA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 390 | |||
Initial costs, buildings | 4,280 | |||
Land at cost | 390 | |||
Buildings at cost | 4,280 | |||
Total at cost | 4,670 | |||
Accumulated Depreciation | 183 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1960 | |||
Date Acquired | Dec. 17, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 30 years | |||
1960 [Member] | Sherman Texas | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 3,363 | |||
Initial costs, buildings | 10,932 | |||
Land at cost | 3,363 | |||
Buildings at cost | 10,932 | |||
Total at cost | 14,295 | |||
Accumulated Depreciation | 3,169 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1960 | |||
Date Acquired | Oct. 31, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1973 [Member] | Bad Oeynhausen, Germany [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 1,110 | |||
Initial costs, buildings | 3,045 | |||
Additions subsequent to acquisition, Improvements | 135 | |||
Land at cost | 1,245 | |||
Buildings at cost | 3,045 | |||
Total at cost | 4,290 | |||
Accumulated Depreciation | 263 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1973 | |||
Date Acquired | Nov. 30, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1973 [Member] | San Diego, CA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 12,663 | |||
Initial costs, buildings | 52,431 | |||
Land at cost | 12,663 | |||
Buildings at cost | 52,431 | |||
Total at cost | 65,094 | |||
Accumulated Depreciation | 12,999 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1973 | |||
Date Acquired | Feb. 9, 2011 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1973 [Member] | Big Spring, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,655 | |||
Initial costs, buildings | 21,254 | |||
Land at cost | 1,655 | |||
Buildings at cost | 21,254 | |||
Total at cost | 22,909 | |||
Accumulated Depreciation | 1,058 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1973 | |||
Date Acquired | Apr. 12, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
1973 [Member] | Port Huron, MI [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,531 | |||
Initial costs, buildings | 14,252 | |||
Land at cost | 2,531 | |||
Buildings at cost | 14,252 | |||
Total at cost | 16,783 | |||
Accumulated Depreciation | 2,434 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1973 | |||
Date Acquired | Dec. 31, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 30 years | |||
1973 [Member] | Odessa, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 6,535 | |||
Initial costs, buildings | 123,518 | |||
Additions subsequent to acquisition, Improvements | 4,571 | |||
Land at cost | 6,535 | |||
Buildings at cost | 128,089 | |||
Total at cost | 134,624 | |||
Accumulated Depreciation | 10,331 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1973 | |||
Date Acquired | Sep. 29, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
1973 [Member] | Ringwood, Australia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 4,413 | |||
Initial costs, buildings | 20,469 | |||
Additions subsequent to acquisition, Improvements | 146 | |||
Land at cost | 4,559 | |||
Buildings at cost | 20,469 | |||
Total at cost | 25,028 | |||
Accumulated Depreciation | 954 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1973 | |||
Date Acquired | Jun. 7, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 35 years | |||
2010 [Member] | Bad Oeynhausen, Germany [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 1,110 | |||
Initial costs, buildings | 3,045 | |||
Additions subsequent to acquisition, Improvements | 135 | |||
Land at cost | 1,245 | |||
Buildings at cost | 3,045 | |||
Total at cost | 4,290 | |||
Accumulated Depreciation | 263 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2010 | |||
Date Acquired | Nov. 30, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2010 [Member] | Brockton, MA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 18,328 | |||
Initial costs, buildings | 67,248 | |||
Additions subsequent to acquisition, Improvements | 4,937 | |||
Land at cost | 18,328 | |||
Buildings at cost | 72,185 | |||
Total at cost | 90,513 | |||
Accumulated Depreciation | 9,289 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2010 | |||
Date Acquired | Oct. 3, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
2010 [Member] | Layton, UT [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 14,360 | |||
Initial costs, buildings | 370,154 | |||
Additions subsequent to acquisition, Improvements | 3,034 | |||
Land at cost | 14,360 | |||
Buildings at cost | 373,188 | |||
Total at cost | 387,548 | |||
Accumulated Depreciation | 4,914 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2010 | |||
Date Acquired | Sep. 29, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2010 [Member] | Sherman Texas | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 3,363 | |||
Initial costs, buildings | 10,932 | |||
Land at cost | 3,363 | |||
Buildings at cost | 10,932 | |||
Total at cost | 14,295 | |||
Accumulated Depreciation | 3,169 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2010 | |||
Date Acquired | Oct. 31, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1993 [Member] | Dormagen, Germany [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 1,963 | |||
Initial costs, buildings | 6,251 | |||
Additions subsequent to acquisition, Improvements | 150 | |||
Land at cost | 2,113 | |||
Buildings at cost | 6,251 | |||
Total at cost | 8,364 | |||
Accumulated Depreciation | 388 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1993 | |||
Date Acquired | Aug. 28, 2018 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1993 [Member] | San Bernardino, CA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,209 | |||
Initial costs, buildings | 37,498 | |||
Land at cost | 2,209 | |||
Buildings at cost | 37,498 | |||
Total at cost | 39,707 | |||
Accumulated Depreciation | 1,366 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1993 | |||
Date Acquired | Aug. 30, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2006 [Member] | Dormagen, Germany [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 1,963 | |||
Initial costs, buildings | 6,251 | |||
Additions subsequent to acquisition, Improvements | 150 | |||
Land at cost | 2,113 | |||
Buildings at cost | 6,251 | |||
Total at cost | 8,364 | |||
Accumulated Depreciation | 388 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2006 | |||
Date Acquired | Aug. 28, 2018 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2006 [Member] | Dallas, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Long term acute care hospital | |||
Initial costs, land | $ 1,000 | |||
Initial costs, buildings | 13,589 | |||
Additions subsequent to acquisition, carrying costs | 368 | |||
Land at cost | 1,421 | |||
Buildings at cost | 13,536 | |||
Total at cost | 14,957 | |||
Accumulated Depreciation | 4,850 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2006 | |||
Date Acquired | Sep. 5, 2006 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2006 [Member] | Bloomington, IN [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,392 | |||
Initial costs, buildings | 28,212 | |||
Additions subsequent to acquisition, Improvements | 5,000 | |||
Additions subsequent to acquisition, carrying costs | 408 | |||
Land at cost | 2,392 | |||
Buildings at cost | 33,620 | |||
Total at cost | 36,012 | |||
Accumulated Depreciation | 11,742 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2006 | |||
Date Acquired | Aug. 8, 2006 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2006 [Member] | Petersburg, VA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 1,302 | |||
Initial costs, buildings | 9,121 | |||
Land at cost | 1,302 | |||
Buildings at cost | 9,121 | |||
Total at cost | 10,423 | |||
Accumulated Depreciation | 2,850 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2006 | |||
Date Acquired | Jul. 1, 2008 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1886 [Member] | Grefath, Germany [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 1,220 | |||
Initial costs, buildings | 3,351 | |||
Additions subsequent to acquisition, Improvements | 108 | |||
Land at cost | 1,328 | |||
Buildings at cost | 3,351 | |||
Total at cost | 4,679 | |||
Accumulated Depreciation | 212 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1886 | |||
Date Acquired | Aug. 28, 2018 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1951 [Member] | Remscheid, Germany [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 1,097 | |||
Initial costs, buildings | 2,797 | |||
Additions subsequent to acquisition, Improvements | 64 | |||
Land at cost | 1,161 | |||
Buildings at cost | 2,797 | |||
Total at cost | 3,958 | |||
Accumulated Depreciation | 173 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1951 | |||
Date Acquired | Aug. 28, 2018 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2014 [Member] | Houston, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,345 | |||
Initial costs, buildings | 3,678 | |||
Land at cost | 1,345 | |||
Buildings at cost | 3,678 | |||
Total at cost | 5,023 | |||
Accumulated Depreciation | 598 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2014 | |||
Date Acquired | Jun. 20, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2014 [Member] | Alvin, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 105 | |||
Initial costs, buildings | 4,087 | |||
Land at cost | 105 | |||
Buildings at cost | 4,087 | |||
Total at cost | 4,192 | |||
Accumulated Depreciation | 666 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2014 | |||
Date Acquired | Mar. 19, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2014 [Member] | Cedar Hill. TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,122 | |||
Initial costs, buildings | 3,644 | |||
Land at cost | 1,122 | |||
Buildings at cost | 3,644 | |||
Total at cost | 4,766 | |||
Accumulated Depreciation | 592 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2014 | |||
Date Acquired | Jun. 23, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2014 [Member] | Spring, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,310 | |||
Initial costs, buildings | 3,639 | |||
Land at cost | 1,310 | |||
Buildings at cost | 3,639 | |||
Total at cost | 4,949 | |||
Accumulated Depreciation | 591 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2014 | |||
Date Acquired | Jul. 15, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2014 [Member] | Commerce City, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 707 | |||
Initial costs, buildings | 4,248 | |||
Land at cost | 707 | |||
Buildings at cost | 4,248 | |||
Total at cost | 4,955 | |||
Accumulated Depreciation | 646 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2014 | |||
Date Acquired | Dec. 11, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2014 [Member] | Broomfield, CO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 825 | |||
Initial costs, buildings | 3,895 | |||
Land at cost | 825 | |||
Buildings at cost | 3,895 | |||
Total at cost | 4,720 | |||
Accumulated Depreciation | 633 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2014 | |||
Date Acquired | Jul. 3, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2014 [Member] | San Antonio, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 351 | |||
Initial costs, buildings | 3,952 | |||
Land at cost | 351 | |||
Buildings at cost | 3,952 | |||
Total at cost | 4,303 | |||
Accumulated Depreciation | 666 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2014 | |||
Date Acquired | Jan. 1, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2014 [Member] | Firestone, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 495 | |||
Initial costs, buildings | 3,963 | |||
Land at cost | 495 | |||
Buildings at cost | 3,963 | |||
Total at cost | 4,458 | |||
Accumulated Depreciation | 652 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2014 | |||
Date Acquired | Jun. 6, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2014 [Member] | Fountain, CO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,508 | |||
Initial costs, buildings | 4,131 | |||
Land at cost | 1,508 | |||
Buildings at cost | 4,131 | |||
Total at cost | 5,639 | |||
Accumulated Depreciation | 663 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2014 | |||
Date Acquired | Jul. 31, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2014 [Member] | Frisco, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,500 | |||
Initial costs, buildings | 2,431 | |||
Additions subsequent to acquisition, Improvements | 27 | |||
Additions subsequent to acquisition, carrying costs | (89) | |||
Land at cost | 1,411 | |||
Buildings at cost | 2,458 | |||
Total at cost | 3,869 | |||
Accumulated Depreciation | 631 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2014 | |||
Date Acquired | Jun. 13, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2014 [Member] | Colorado Springs, CO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 600 | |||
Initial costs, buildings | 4,231 | |||
Land at cost | 600 | |||
Buildings at cost | 4,231 | |||
Total at cost | 4,831 | |||
Accumulated Depreciation | 697 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2014 | |||
Date Acquired | Jun. 5, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2014 [Member] | Altoona, WI [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, buildings | $ 29,062 | |||
Buildings at cost | 29,062 | |||
Total at cost | 29,062 | |||
Accumulated Depreciation | 4,601 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2014 | |||
Date Acquired | Aug. 31, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2014 [Member] | Ogden, UT [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 1,759 | |||
Initial costs, buildings | 16,414 | |||
Land at cost | 1,759 | |||
Buildings at cost | 16,414 | |||
Total at cost | 18,173 | |||
Accumulated Depreciation | 2,792 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2014 | |||
Date Acquired | Mar. 1, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2014 [Member] | Pearland, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,075 | |||
Initial costs, buildings | 3,577 | |||
Land at cost | 1,075 | |||
Buildings at cost | 3,577 | |||
Total at cost | 4,652 | |||
Accumulated Depreciation | 566 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2014 | |||
Date Acquired | Sep. 8, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2014 [Member] | Sienna, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,000 | |||
Initial costs, buildings | 2,027 | |||
Land at cost | 1,000 | |||
Buildings at cost | 2,027 | |||
Total at cost | 3,027 | |||
Accumulated Depreciation | 554 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2014 | |||
Date Acquired | Aug. 20, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2014 [Member] | Thornton, CO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,350 | |||
Initial costs, buildings | 4,259 | |||
Land at cost | 1,350 | |||
Buildings at cost | 4,259 | |||
Total at cost | 5,609 | |||
Accumulated Depreciation | 674 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2014 | |||
Date Acquired | Aug. 29, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2015 [Member] | Aurora, CO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 2,939 | |||
Initial costs, buildings | 4,812 | |||
Land at cost | 2,939 | |||
Buildings at cost | 4,812 | |||
Total at cost | 7,751 | |||
Accumulated Depreciation | 632 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2015 | |||
Date Acquired | Sep. 17, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2015 [Member] | Ft. Worth, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 2,741 | |||
Initial costs, buildings | 4,392 | |||
Land at cost | 2,741 | |||
Buildings at cost | 4,392 | |||
Total at cost | 7,133 | |||
Accumulated Depreciation | 631 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2015 | |||
Date Acquired | Mar. 27, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2015 [Member] | Chandler, AZ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 3,674 | |||
Initial costs, buildings | 4,783 | |||
Land at cost | 3,674 | |||
Buildings at cost | 4,783 | |||
Total at cost | 8,457 | |||
Accumulated Depreciation | 678 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2015 | |||
Date Acquired | Apr. 24, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2015 [Member] | Carrollton, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 729 | |||
Initial costs, buildings | 34,342 | |||
Additions subsequent to acquisition, Improvements | 374 | |||
Land at cost | 729 | |||
Buildings at cost | 34,716 | |||
Total at cost | 35,445 | |||
Accumulated Depreciation | 4,689 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2015 | |||
Date Acquired | Jul. 17, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2015 [Member] | Katy, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 2,211 | |||
Initial costs, buildings | 3,873 | |||
Land at cost | 2,211 | |||
Buildings at cost | 3,873 | |||
Total at cost | 6,084 | |||
Accumulated Depreciation | 500 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2015 | |||
Date Acquired | Oct. 21, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2015 [Member] | Conroe, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,338 | |||
Initial costs, buildings | 1,699 | |||
Land at cost | 1,338 | |||
Buildings at cost | 1,699 | |||
Total at cost | 3,037 | |||
Accumulated Depreciation | 482 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2015 | |||
Date Acquired | Jul. 29, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2015 [Member] | Converse, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 750 | |||
Initial costs, buildings | 4,423 | |||
Land at cost | 750 | |||
Buildings at cost | 4,423 | |||
Total at cost | 5,173 | |||
Accumulated Depreciation | 636 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2015 | |||
Date Acquired | Apr. 10, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2015 [Member] | Denver, CO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,295 | |||
Initial costs, buildings | 4,276 | |||
Land at cost | 1,295 | |||
Buildings at cost | 4,276 | |||
Total at cost | 5,571 | |||
Accumulated Depreciation | 597 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2015 | |||
Date Acquired | Jun. 8, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2015 [Member] | Dorchester, MA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 14,428 | |||
Initial costs, buildings | 219,575 | |||
Additions subsequent to acquisition, Improvements | 6,638 | |||
Land at cost | 14,428 | |||
Buildings at cost | 226,213 | |||
Total at cost | 240,641 | |||
Accumulated Depreciation | 12,424 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2015 | |||
Date Acquired | Oct. 15, 2018 | |||
Life on which depreciation in latest income statements is computed (Years) | 42 years | |||
2015 [Member] | Glendale, AZ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,229 | |||
Initial costs, buildings | 4,046 | |||
Land at cost | 1,229 | |||
Buildings at cost | 4,046 | |||
Total at cost | 5,275 | |||
Accumulated Depreciation | 565 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2015 | |||
Date Acquired | Jun. 5, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2015 [Member] | Highland Village, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 3,314 | |||
Initial costs, buildings | 1,551 | |||
Land at cost | 3,314 | |||
Buildings at cost | 1,551 | |||
Total at cost | 4,865 | |||
Accumulated Depreciation | 377 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2015 | |||
Date Acquired | Sep. 22, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2015 [Member] | Hoover, AL [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, buildings | $ 7,581 | |||
Buildings at cost | 7,581 | |||
Total at cost | 7,581 | |||
Accumulated Depreciation | 1,254 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2015 | |||
Date Acquired | May 1, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 34 years | |||
2015 [Member] | Gilbert, AZ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,517 | |||
Initial costs, buildings | 4,661 | |||
Land at cost | 1,517 | |||
Buildings at cost | 4,661 | |||
Total at cost | 6,178 | |||
Accumulated Depreciation | 631 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2015 | |||
Date Acquired | Jul. 22, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2015 [Member] | Lehi, UT [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 13,403 | |||
Initial costs, buildings | 29,950 | |||
Additions subsequent to acquisition, Improvements | 601 | |||
Additions subsequent to acquisition, carrying costs | (35) | |||
Land at cost | 13,368 | |||
Buildings at cost | 30,551 | |||
Total at cost | 43,919 | |||
Accumulated Depreciation | 2,899 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2015 | |||
Date Acquired | Sep. 29, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 45 years | |||
2015 [Member] | McKinney, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 2,722 | |||
Initial costs, buildings | 4,060 | |||
Land at cost | 2,722 | |||
Buildings at cost | 4,060 | |||
Total at cost | 6,782 | |||
Accumulated Depreciation | 739 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2015 | |||
Date Acquired | Jul. 31, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 30 years | |||
2015 [Member] | Parker, CO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,300 | |||
Initial costs, buildings | 4,448 | |||
Land at cost | 1,300 | |||
Buildings at cost | 4,448 | |||
Total at cost | 5,748 | |||
Accumulated Depreciation | 574 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2015 | |||
Date Acquired | Nov. 6, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2015 [Member] | Taunton, MA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 4,428 | |||
Initial costs, buildings | 73,228 | |||
Additions subsequent to acquisition, Improvements | 11,290 | |||
Land at cost | 4,428 | |||
Buildings at cost | 84,518 | |||
Total at cost | 88,946 | |||
Accumulated Depreciation | 8,573 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2015 | |||
Date Acquired | Oct. 3, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
2015 [Member] | Houston, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,423 | |||
Initial costs, buildings | 1,890 | |||
Land at cost | 1,423 | |||
Buildings at cost | 1,890 | |||
Total at cost | 3,313 | |||
Accumulated Depreciation | 532 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2015 | |||
Date Acquired | Feb. 18, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2015 [Member] | League City, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,336 | |||
Initial costs, buildings | 3,901 | |||
Land at cost | 1,336 | |||
Buildings at cost | 3,901 | |||
Total at cost | 5,237 | |||
Accumulated Depreciation | 536 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2015 | |||
Date Acquired | Jun. 19, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1970 [Member] | Ayer, MA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 9,048 | |||
Initial costs, buildings | 77,913 | |||
Additions subsequent to acquisition, Improvements | 2,300 | |||
Land at cost | 9,048 | |||
Buildings at cost | 80,213 | |||
Total at cost | 89,261 | |||
Accumulated Depreciation | 4,637 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1970 | |||
Date Acquired | Jun. 27, 2018 | |||
Life on which depreciation in latest income statements is computed (Years) | 47 years | |||
1970 [Member] | Rockledge, FL [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 13,919 | |||
Initial costs, buildings | 23,282 | |||
Additions subsequent to acquisition, Improvements | 5,512 | |||
Land at cost | 13,919 | |||
Buildings at cost | 28,794 | |||
Total at cost | 42,713 | |||
Accumulated Depreciation | 3,413 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1970 | |||
Date Acquired | May 1, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 42 years | |||
2013 [Member] | Ayer, MA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 9,048 | |||
Initial costs, buildings | 77,913 | |||
Additions subsequent to acquisition, Improvements | 2,300 | |||
Land at cost | 9,048 | |||
Buildings at cost | 80,213 | |||
Total at cost | 89,261 | |||
Accumulated Depreciation | 4,637 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2013 | |||
Date Acquired | Jun. 27, 2018 | |||
Life on which depreciation in latest income statements is computed (Years) | 47 years | |||
2013 [Member] | Hausman, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,500 | |||
Initial costs, buildings | 8,957 | |||
Land at cost | 1,500 | |||
Buildings at cost | 8,957 | |||
Total at cost | 10,457 | |||
Accumulated Depreciation | 1,734 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2013 | |||
Date Acquired | Mar. 1, 2013 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2013 [Member] | Lafayette, IN [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 800 | |||
Initial costs, buildings | 14,968 | |||
Additions subsequent to acquisition, Improvements | (25) | |||
Land at cost | 800 | |||
Buildings at cost | 14,943 | |||
Total at cost | 15,743 | |||
Accumulated Depreciation | 2,946 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2013 | |||
Date Acquired | Feb. 1, 2013 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2013 [Member] | Little Elm, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 1,241 | |||
Initial costs, buildings | 3,491 | |||
Land at cost | 1,241 | |||
Buildings at cost | 3,491 | |||
Total at cost | 4,732 | |||
Accumulated Depreciation | 615 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2013 | |||
Date Acquired | Dec. 1, 2013 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2013 [Member] | Post Falls, ID [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 417 | |||
Initial costs, buildings | 12,175 | |||
Additions subsequent to acquisition, Improvements | 1,905 | |||
Land at cost | 767 | |||
Buildings at cost | 13,730 | |||
Total at cost | 14,497 | |||
Accumulated Depreciation | 2,412 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2013 | |||
Date Acquired | Dec. 31, 2013 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2013 [Member] | Spartanburg, SC [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 1,135 | |||
Initial costs, buildings | 15,717 | |||
Land at cost | 1,135 | |||
Buildings at cost | 15,717 | |||
Total at cost | 16,852 | |||
Accumulated Depreciation | 2,899 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2013 | |||
Date Acquired | Aug. 1, 2013 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1984 [Member] | Bennettsville, SC [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 794 | |||
Initial costs, buildings | 15,773 | |||
Land at cost | 794 | |||
Buildings at cost | 15,773 | |||
Total at cost | 16,567 | |||
Accumulated Depreciation | 5,379 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1984 | |||
Date Acquired | Apr. 1, 2008 | |||
Life on which depreciation in latest income statements is computed (Years) | 42 years | |||
1984 [Member] | Basingstoke, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 13,670 | |||
Initial costs, buildings | 53,891 | |||
Additions subsequent to acquisition, Improvements | 205 | |||
Land at cost | 13,875 | |||
Buildings at cost | 53,891 | |||
Total at cost | 67,766 | |||
Accumulated Depreciation | 1,361 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1984 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1984 [Member] | Droitwich, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, buildings | $ 16,427 | |||
Additions subsequent to acquisition, Improvements | 82 | |||
Land at cost | 82 | |||
Buildings at cost | 16,427 | |||
Total at cost | 16,509 | |||
Accumulated Depreciation | 416 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1984 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1984 [Member] | Hope, AR [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,651 | |||
Initial costs, buildings | 3,359 | |||
Additions subsequent to acquisition, Improvements | 2,274 | |||
Land at cost | 1,651 | |||
Buildings at cost | 5,633 | |||
Total at cost | 7,284 | |||
Accumulated Depreciation | 655 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1984 | |||
Date Acquired | Sep. 29, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
1984 [Member] | London, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 9,842 | |||
Initial costs, buildings | 65,503 | |||
Additions subsequent to acquisition, Improvements | 82 | |||
Land at cost | 9,924 | |||
Buildings at cost | 65,503 | |||
Total at cost | 75,427 | |||
Accumulated Depreciation | 1,643 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1984 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1984 [Member] | Olympia, WA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 7,220 | |||
Initial costs, buildings | 89,348 | |||
Additions subsequent to acquisition, Improvements | 15,930 | |||
Land at cost | 7,220 | |||
Buildings at cost | 105,278 | |||
Total at cost | 112,498 | |||
Accumulated Depreciation | 11,733 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1984 | |||
Date Acquired | Jul. 22, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1984 [Member] | Swindon, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 5,577 | |||
Initial costs, buildings | 64,181 | |||
Additions subsequent to acquisition, Improvements | 144 | |||
Land at cost | 5,721 | |||
Buildings at cost | 64,181 | |||
Total at cost | 69,902 | |||
Accumulated Depreciation | 1,614 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1984 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1984 [Member] | Wantirna, Australia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 27,854 | |||
Initial costs, buildings | 229,129 | |||
Additions subsequent to acquisition, Improvements | 1,050 | |||
Land at cost | 28,904 | |||
Buildings at cost | 229,129 | |||
Total at cost | 258,033 | |||
Accumulated Depreciation | 9,208 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1984 | |||
Date Acquired | Jun. 7, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1980 [Member] | Blue Springs, MO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 4,347 | |||
Initial costs, buildings | 23,494 | |||
Land at cost | 4,347 | |||
Buildings at cost | 23,494 | |||
Total at cost | 27,841 | |||
Accumulated Depreciation | 3,651 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1980 | |||
Date Acquired | Feb. 13, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1980 [Member] | Hill County, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,120 | |||
Initial costs, buildings | 17,882 | |||
Land at cost | 1,120 | |||
Buildings at cost | 17,882 | |||
Total at cost | 19,002 | |||
Accumulated Depreciation | 12,288 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1980 | |||
Date Acquired | Sep. 17, 2010 | |||
Life on which depreciation in latest income statements is computed (Years) | 15 years | |||
1980 [Member] | Harrow, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 41,010 | |||
Initial costs, buildings | 43,396 | |||
Additions subsequent to acquisition, Improvements | 226 | |||
Land at cost | 41,236 | |||
Buildings at cost | 43,396 | |||
Total at cost | 84,632 | |||
Accumulated Depreciation | 1,100 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1980 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1980 [Member] | Sharon, PA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 6,179 | |||
Initial costs, buildings | 9,066 | |||
Additions subsequent to acquisition, Improvements | 6,435 | |||
Land at cost | 6,179 | |||
Buildings at cost | 15,501 | |||
Total at cost | 21,680 | |||
Accumulated Depreciation | 2,356 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1980 | |||
Date Acquired | May 1, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
1980 [Member] | Poplar Bluff, MO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,659 | |||
Initial costs, buildings | 38,693 | |||
Additions subsequent to acquisition, carrying costs | 1 | |||
Land at cost | 2,659 | |||
Buildings at cost | 38,694 | |||
Total at cost | 41,353 | |||
Accumulated Depreciation | 12,278 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1980 | |||
Date Acquired | Apr. 22, 2008 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1980 [Member] | West Valley City, UT [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 5,374 | |||
Initial costs, buildings | 58,314 | |||
Additions subsequent to acquisition, Improvements | 7,150 | |||
Additions subsequent to acquisition, carrying costs | (114) | |||
Land at cost | 5,260 | |||
Buildings at cost | 65,464 | |||
Total at cost | 70,724 | |||
Accumulated Depreciation | 19,035 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1980 | |||
Date Acquired | Apr. 22, 2008 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1985 [Member] | Aberdeen United Kingdom | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 4,429 | |||
Initial costs, buildings | 108,150 | |||
Additions subsequent to acquisition, Improvements | 137 | |||
Land at cost | 4,566 | |||
Buildings at cost | 108,150 | |||
Total at cost | 112,716 | |||
Accumulated Depreciation | 2,712 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1985 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1985 [Member] | Fairmont, CA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,000 | |||
Initial costs, buildings | 6,072 | |||
Additions subsequent to acquisition, Improvements | 5,278 | |||
Land at cost | 1,277 | |||
Buildings at cost | 11,073 | |||
Total at cost | 12,350 | |||
Accumulated Depreciation | 2,331 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1985 | |||
Date Acquired | Sep. 19, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1985 [Member] | Hot Springs, AR [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 5,844 | |||
Initial costs, buildings | 59,432 | |||
Additions subsequent to acquisition, Improvements | 21,221 | |||
Land at cost | 5,844 | |||
Buildings at cost | 80,653 | |||
Total at cost | 86,497 | |||
Accumulated Depreciation | 11,013 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1985 | |||
Date Acquired | Aug. 31, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1985 [Member] | Fort Lauderdale, FL [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 3,499 | |||
Initial costs, buildings | 21,939 | |||
Additions subsequent to acquisition, carrying costs | 1 | |||
Land at cost | 3,499 | |||
Buildings at cost | 21,940 | |||
Total at cost | 25,439 | |||
Accumulated Depreciation | 6,962 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1985 | |||
Date Acquired | Apr. 22, 2008 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1985 [Member] | Lawton, OK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 3,944 | |||
Initial costs, buildings | 63,031 | |||
Land at cost | 3,944 | |||
Buildings at cost | 63,031 | |||
Total at cost | 66,975 | |||
Accumulated Depreciation | 1,692 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1985 | |||
Date Acquired | Dec. 17, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1985 [Member] | St. Albans Park, Australia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,298 | |||
Initial costs, buildings | 23,474 | |||
Additions subsequent to acquisition, Improvements | 4,921 | |||
Land at cost | 2,893 | |||
Buildings at cost | 27,800 | |||
Total at cost | 30,693 | |||
Accumulated Depreciation | 1,008 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1985 | |||
Date Acquired | Jun. 7, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1985 [Member] | Strathpine, Australia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,781 | |||
Initial costs, buildings | 38,949 | |||
Additions subsequent to acquisition, Improvements | 330 | |||
Land at cost | 3,111 | |||
Buildings at cost | 38,949 | |||
Total at cost | 42,060 | |||
Accumulated Depreciation | 1,585 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1985 | |||
Date Acquired | Jun. 7, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1972 [Member] | Bellflower, CA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Behavioral health facility | |||
Initial costs, land | $ 2,563 | |||
Land at cost | 2,563 | |||
Total at cost | 2,563 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1972 | |||
Date Acquired | Aug. 23, 2019 | |||
1972 [Member] | Fairmont, CA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,000 | |||
Initial costs, buildings | 6,072 | |||
Additions subsequent to acquisition, Improvements | 5,278 | |||
Land at cost | 1,277 | |||
Buildings at cost | 11,073 | |||
Total at cost | 12,350 | |||
Accumulated Depreciation | 2,331 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1972 | |||
Date Acquired | Sep. 19, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1972 [Member] | Glen Waverly, Australia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 32,590 | |||
Initial costs, buildings | 25,179 | |||
Additions subsequent to acquisition, Improvements | 885 | |||
Land at cost | 33,475 | |||
Buildings at cost | 25,179 | |||
Total at cost | 58,654 | |||
Accumulated Depreciation | 1,421 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1972 | |||
Date Acquired | Jun. 7, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 32 years | |||
1972 [Member] | San Dimas, CA [member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 6,161 | |||
Initial costs, buildings | 6,839 | |||
Additions subsequent to acquisition, carrying costs | 34 | |||
Land at cost | 6,161 | |||
Buildings at cost | 6,873 | |||
Total at cost | 13,034 | |||
Accumulated Depreciation | 2,080 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1972 | |||
Date Acquired | Nov. 25, 2008 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1957 [Member] | Blackburn, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,734 | |||
Initial costs, buildings | 54,763 | |||
Additions subsequent to acquisition, Improvements | 123 | |||
Land at cost | 2,857 | |||
Buildings at cost | 54,763 | |||
Total at cost | 57,620 | |||
Accumulated Depreciation | 1,377 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1957 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1952 [Member] | Boonton Township, NJ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Behavioral health facility | |||
Initial costs, land | $ 6,712 | |||
Initial costs, buildings | 17,031 | |||
Land at cost | 6,712 | |||
Buildings at cost | 17,031 | |||
Total at cost | 23,743 | |||
Accumulated Depreciation | 79 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1952 | |||
Date Acquired | Sep. 30, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2007 [Member] | Campbelltown, Australia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,117 | |||
Initial costs, buildings | 58,005 | |||
Additions subsequent to acquisition, Improvements | 54 | |||
Land at cost | 1,171 | |||
Buildings at cost | 58,005 | |||
Total at cost | 59,176 | |||
Accumulated Depreciation | 2,302 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2007 | |||
Date Acquired | Jun. 7, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2007 [Member] | Mesa, AZ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 6,534 | |||
Initial costs, buildings | 100,042 | |||
Additions subsequent to acquisition, Improvements | 1,885 | |||
Land at cost | 6,534 | |||
Buildings at cost | 101,927 | |||
Total at cost | 108,461 | |||
Accumulated Depreciation | 19,203 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2007 | |||
Date Acquired | Sep. 26, 2013 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2007 [Member] | Northland, MO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Long term acute care hospital | |||
Initial costs, land | $ 834 | |||
Initial costs, buildings | 17,182 | |||
Land at cost | 834 | |||
Buildings at cost | 17,182 | |||
Total at cost | 18,016 | |||
Accumulated Depreciation | 4,260 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2007 | |||
Date Acquired | Feb. 14, 2011 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2015 One [Member] | Chandler, AZ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 750 | |||
Initial costs, buildings | 3,853 | |||
Land at cost | 750 | |||
Buildings at cost | 3,853 | |||
Total at cost | 4,603 | |||
Accumulated Depreciation | 506 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2015 | |||
Date Acquired | Oct. 7, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2015 One [Member] | Hoover, AL [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Medical Office Building | |||
Initial costs, buildings | $ 1,034 | |||
Additions subsequent to acquisition, Improvements | 296 | |||
Buildings at cost | 1,330 | |||
Total at cost | 1,330 | |||
Accumulated Depreciation | 188 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2015 | |||
Date Acquired | May 1, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 34 years | |||
1971 [Member] | Boonton Township, NJ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Behavioral health facility | |||
Initial costs, land | $ 6,712 | |||
Initial costs, buildings | 17,031 | |||
Land at cost | 6,712 | |||
Buildings at cost | 17,031 | |||
Total at cost | 23,743 | |||
Accumulated Depreciation | 79 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1971 | |||
Date Acquired | Sep. 30, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1978 [Member] | Boonton Township, NJ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Behavioral health facility | |||
Initial costs, land | $ 6,712 | |||
Initial costs, buildings | 17,031 | |||
Land at cost | 6,712 | |||
Buildings at cost | 17,031 | |||
Total at cost | 23,743 | |||
Accumulated Depreciation | 79 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1978 | |||
Date Acquired | Sep. 30, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1978 [Member] | Kansas City, MO [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 10,497 | |||
Initial costs, buildings | 64,419 | |||
Land at cost | 10,497 | |||
Buildings at cost | 64,419 | |||
Total at cost | 74,916 | |||
Accumulated Depreciation | 9,713 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1978 | |||
Date Acquired | Feb. 13, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1978 [Member] | San Antonio, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 8,053 | |||
Initial costs, buildings | 29,333 | |||
Additions subsequent to acquisition, Improvements | 1,945 | |||
Land at cost | 8,053 | |||
Buildings at cost | 31,278 | |||
Total at cost | 39,331 | |||
Accumulated Depreciation | 2,735 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1978 | |||
Date Acquired | Sep. 29, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
1917 [Member] | Brighton, MA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 18,540 | |||
Initial costs, buildings | 146,491 | |||
Additions subsequent to acquisition, Improvements | 39,279 | |||
Land at cost | 18,540 | |||
Buildings at cost | 185,770 | |||
Total at cost | 204,310 | |||
Accumulated Depreciation | 16,411 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1917 | |||
Date Acquired | Oct. 3, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
2004 [Member] | Webster, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Long term acute care hospital | |||
Initial costs, land | $ 663 | |||
Initial costs, buildings | 33,751 | |||
Land at cost | 663 | |||
Buildings at cost | 33,751 | |||
Total at cost | 34,414 | |||
Accumulated Depreciation | 8,438 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2004 | |||
Date Acquired | Dec. 21, 2010 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2004 [Member] | Camden, SC [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, buildings | $ 22,739 | |||
Buildings at cost | 22,739 | |||
Total at cost | 22,739 | |||
Accumulated Depreciation | 2,721 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2004 | |||
Date Acquired | Oct. 30, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 39 years | |||
2004 [Member] | Odessa, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 6,535 | |||
Initial costs, buildings | 123,518 | |||
Additions subsequent to acquisition, Improvements | 4,571 | |||
Land at cost | 6,535 | |||
Buildings at cost | 128,089 | |||
Total at cost | 134,624 | |||
Accumulated Depreciation | 10,331 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2004 | |||
Date Acquired | Sep. 29, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
1965 [Member] | Brockton, MA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 18,328 | |||
Initial costs, buildings | 67,248 | |||
Additions subsequent to acquisition, Improvements | 4,937 | |||
Land at cost | 18,328 | |||
Buildings at cost | 72,185 | |||
Total at cost | 90,513 | |||
Accumulated Depreciation | 9,289 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1965 | |||
Date Acquired | Oct. 3, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
1965 [Member] | Perth, Australia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 112,312 | |||
Initial costs, buildings | 39,888 | |||
Additions subsequent to acquisition, Improvements | 1,772 | |||
Land at cost | 112,546 | |||
Buildings at cost | 41,426 | |||
Total at cost | 153,972 | |||
Accumulated Depreciation | 2,160 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1965 | |||
Date Acquired | Jun. 7, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 30 years | |||
1965 [Member] | Rochdale, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 3,691 | |||
Initial costs, buildings | 43,759 | |||
Additions subsequent to acquisition, Improvements | 150 | |||
Land at cost | 3,841 | |||
Buildings at cost | 43,759 | |||
Total at cost | 47,600 | |||
Accumulated Depreciation | 1,104 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1965 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1979 [Member] | Bundoora, Australia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 7,049 | |||
Initial costs, buildings | 67,900 | |||
Additions subsequent to acquisition, Improvements | 302 | |||
Land at cost | 7,351 | |||
Buildings at cost | 67,900 | |||
Total at cost | 75,251 | |||
Accumulated Depreciation | 2,959 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1979 | |||
Date Acquired | Jun. 7, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 37 years | |||
1979 [Member] | Phoenix, AZ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,396 | |||
Initial costs, buildings | 26,521 | |||
Additions subsequent to acquisition, Improvements | 12,253 | |||
Land at cost | 2,396 | |||
Buildings at cost | 38,774 | |||
Total at cost | 41,170 | |||
Accumulated Depreciation | 2,521 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1979 | |||
Date Acquired | Sep. 29, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 42 years | |||
1979 [Member] | San Dimas, CA [member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Medical Office Building | |||
Initial costs, land | $ 1,915 | |||
Initial costs, buildings | 5,085 | |||
Additions subsequent to acquisition, carrying costs | 18 | |||
Land at cost | 1,915 | |||
Buildings at cost | 5,103 | |||
Total at cost | 7,018 | |||
Accumulated Depreciation | 1,545 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1979 | |||
Date Acquired | Nov. 25, 2008 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1979 [Member] | Sunnybank, Australia [member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 6,377 | |||
Initial costs, buildings | 48,465 | |||
Additions subsequent to acquisition, Improvements | 379 | |||
Land at cost | 6,756 | |||
Buildings at cost | 48,465 | |||
Total at cost | 55,221 | |||
Accumulated Depreciation | 2,318 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1979 | |||
Date Acquired | Jun. 7, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 34 years | |||
2012 [Member] | Casper, WY [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 1,836 | |||
Land at cost | 1,836 | |||
Total at cost | 1,836 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2012 | |||
Date Acquired | Feb. 29, 2012 | |||
2012 [Member] | Fall River, MA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 3,526 | |||
Initial costs, buildings | 82,358 | |||
Additions subsequent to acquisition, Improvements | 24,463 | |||
Land at cost | 3,526 | |||
Buildings at cost | 106,821 | |||
Total at cost | 110,347 | |||
Accumulated Depreciation | 10,619 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2012 | |||
Date Acquired | Oct. 3, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
2012 [Member] | Florence, AZ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 900 | |||
Initial costs, buildings | 28,462 | |||
Additions subsequent to acquisition, Improvements | 105 | |||
Land at cost | 900 | |||
Buildings at cost | 28,567 | |||
Total at cost | 29,467 | |||
Accumulated Depreciation | 6,246 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2012 | |||
Date Acquired | Feb. 7, 2012 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2012 [Member] | Mount Pleasant, SC [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Long term acute care hospital | |||
Initial costs, land | $ 597 | |||
Initial costs, buildings | 2,198 | |||
Land at cost | 597 | |||
Buildings at cost | 2,198 | |||
Total at cost | 2,795 | |||
Accumulated Depreciation | 85 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2012 | |||
Date Acquired | Aug. 30, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2012 [Member] | Overlook, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,452 | |||
Initial costs, buildings | 9,666 | |||
Additions subsequent to acquisition, Improvements | 7 | |||
Land at cost | 2,452 | |||
Buildings at cost | 9,673 | |||
Total at cost | 12,125 | |||
Accumulated Depreciation | 1,897 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2012 | |||
Date Acquired | Feb. 1, 2013 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2012 [Member] | Reading, United Kingdom [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 27,272 | |||
Initial costs, buildings | 88,860 | |||
Additions subsequent to acquisition, Improvements | 641 | |||
Land at cost | 27,913 | |||
Buildings at cost | 88,860 | |||
Total at cost | 116,773 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2012 | |||
Date Acquired | Dec. 18, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2012 [Member] | San Antonio, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,248 | |||
Initial costs, buildings | 5,880 | |||
Land at cost | 2,248 | |||
Buildings at cost | 5,880 | |||
Total at cost | 8,128 | |||
Accumulated Depreciation | 1,199 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2012 | |||
Date Acquired | Oct. 2, 2012 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1990 [Member] | Carmarthen, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 875 | |||
Initial costs, buildings | 27,462 | |||
Additions subsequent to acquisition, Improvements | 102 | |||
Land at cost | 977 | |||
Buildings at cost | 27,462 | |||
Total at cost | 28,439 | |||
Accumulated Depreciation | 693 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1990 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1990 [Member] | Gloucester, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 4,919 | |||
Initial costs, buildings | 65,900 | |||
Additions subsequent to acquisition, Improvements | 1,073 | |||
Land at cost | 5,992 | |||
Buildings at cost | 65,900 | |||
Total at cost | 71,892 | |||
Accumulated Depreciation | 2,327 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1990 | |||
Date Acquired | Aug. 16, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1990 [Member] | Reading, United Kingdom [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 36,861 | |||
Initial costs, buildings | 49,579 | |||
Additions subsequent to acquisition, Improvements | 501 | |||
Land at cost | 37,362 | |||
Buildings at cost | 49,579 | |||
Total at cost | 86,941 | |||
Accumulated Depreciation | 1,727 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1990 | |||
Date Acquired | Aug. 16, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1956 [Member] | Detroit, MI [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Long term acute care hospital | |||
Initial costs, land | $ 1,220 | |||
Initial costs, buildings | 8,687 | |||
Additions subsequent to acquisition, carrying costs | (364) | |||
Land at cost | 1,220 | |||
Buildings at cost | 8,323 | |||
Total at cost | 9,543 | |||
Accumulated Depreciation | 2,686 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1956 | |||
Date Acquired | May 22, 2008 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1953 [Member] | Dorchester, MA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 14,428 | |||
Initial costs, buildings | 219,575 | |||
Additions subsequent to acquisition, Improvements | 6,638 | |||
Land at cost | 14,428 | |||
Buildings at cost | 226,213 | |||
Total at cost | 240,641 | |||
Accumulated Depreciation | 12,424 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1953 | |||
Date Acquired | Oct. 15, 2018 | |||
Life on which depreciation in latest income statements is computed (Years) | 42 years | |||
1953 [Member] | Denville, NJ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 15,709 | |||
Initial costs, buildings | 55,772 | |||
Land at cost | 15,709 | |||
Buildings at cost | 55,772 | |||
Total at cost | 71,481 | |||
Accumulated Depreciation | 254 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1953 | |||
Date Acquired | Sep. 30, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1953 [Member] | Port Huron, MI [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,531 | |||
Initial costs, buildings | 14,252 | |||
Land at cost | 2,531 | |||
Buildings at cost | 14,252 | |||
Total at cost | 16,783 | |||
Accumulated Depreciation | 2,434 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1953 | |||
Date Acquired | Dec. 31, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 30 years | |||
1976 [Member] | Dodge City, KS [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,124 | |||
Initial costs, buildings | 52,705 | |||
Land at cost | 1,124 | |||
Buildings at cost | 52,705 | |||
Total at cost | 53,829 | |||
Accumulated Depreciation | 1,422 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1976 | |||
Date Acquired | Dec. 17, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1976 [Member] | Phoenix, AZ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 12,695 | |||
Initial costs, buildings | 73,773 | |||
Additions subsequent to acquisition, Improvements | 4,978 | |||
Land at cost | 12,695 | |||
Buildings at cost | 78,751 | |||
Total at cost | 91,446 | |||
Accumulated Depreciation | 6,703 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1976 | |||
Date Acquired | Sep. 29, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1976 [Member] | Layton, UT [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 14,360 | |||
Initial costs, buildings | 370,154 | |||
Additions subsequent to acquisition, Improvements | 3,034 | |||
Land at cost | 14,360 | |||
Buildings at cost | 373,188 | |||
Total at cost | 387,548 | |||
Accumulated Depreciation | 4,914 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1976 | |||
Date Acquired | Sep. 29, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2019 [Member] | Clarksville, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 2,460 | |||
Initial costs, buildings | 25,530 | |||
Land at cost | 2,460 | |||
Buildings at cost | 25,530 | |||
Total at cost | 27,990 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2019 | |||
Date Acquired | Dec. 17, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 39 years | |||
2019 [Member] | Overland Park, KS [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 3,191 | |||
Initial costs, buildings | 14,263 | |||
Land at cost | 3,191 | |||
Buildings at cost | 14,263 | |||
Total at cost | 17,454 | |||
Accumulated Depreciation | 518 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2019 | |||
Date Acquired | Jun. 10, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 50 years | |||
1994 [Member] | Dahlen, Germany [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 1,017 | |||
Initial costs, buildings | 12,526 | |||
Additions subsequent to acquisition, Improvements | 466 | |||
Land at cost | 1,483 | |||
Buildings at cost | 12,526 | |||
Total at cost | 14,009 | |||
Accumulated Depreciation | 143 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1994 | |||
Date Acquired | Jul. 8, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1994 [Member] | Worthing, UK [member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 7,108 | |||
Initial costs, buildings | 32,370 | |||
Additions subsequent to acquisition, Improvements | 103 | |||
Land at cost | 7,211 | |||
Buildings at cost | 32,370 | |||
Total at cost | 39,581 | |||
Accumulated Depreciation | 816 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1994 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2001 [Member] | Darlington, United Kingdom [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,873 | |||
Initial costs, buildings | 38,465 | |||
Additions subsequent to acquisition, Improvements | 369 | |||
Land at cost | 2,242 | |||
Buildings at cost | 38,465 | |||
Total at cost | 40,707 | |||
Accumulated Depreciation | 411 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2001 | |||
Date Acquired | Aug. 7, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2001 [Member] | Hope, AR [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,651 | |||
Initial costs, buildings | 3,359 | |||
Additions subsequent to acquisition, Improvements | 2,274 | |||
Land at cost | 1,651 | |||
Buildings at cost | 5,633 | |||
Total at cost | 7,284 | |||
Accumulated Depreciation | 655 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2001 | |||
Date Acquired | Sep. 29, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
2001 [Member] | Norwood, MA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 7,073 | |||
Initial costs, buildings | 154,496 | |||
Additions subsequent to acquisition, Improvements | 35,897 | |||
Land at cost | 7,073 | |||
Buildings at cost | 190,393 | |||
Total at cost | 197,466 | |||
Accumulated Depreciation | 9,055 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2001 | |||
Date Acquired | Jun. 27, 2018 | |||
Life on which depreciation in latest income statements is computed (Years) | 46 years | |||
1969 [Member] | Denville, NJ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 15,709 | |||
Initial costs, buildings | 55,772 | |||
Land at cost | 15,709 | |||
Buildings at cost | 55,772 | |||
Total at cost | 71,481 | |||
Accumulated Depreciation | 254 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1969 | |||
Date Acquired | Sep. 30, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1925 [Member] | Dover, NJ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 3,865 | |||
Initial costs, buildings | 8,693 | |||
Land at cost | 3,865 | |||
Buildings at cost | 8,693 | |||
Total at cost | 12,558 | |||
Accumulated Depreciation | 42 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1925 | |||
Date Acquired | Sep. 30, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1927 [Member] | Dover, NJ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 3,865 | |||
Initial costs, buildings | 8,693 | |||
Land at cost | 3,865 | |||
Buildings at cost | 8,693 | |||
Total at cost | 12,558 | |||
Accumulated Depreciation | 42 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1927 | |||
Date Acquired | Sep. 30, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1986 | Halsall, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,539 | |||
Initial costs, buildings | 33,458 | |||
Additions subsequent to acquisition, Improvements | 624 | |||
Land at cost | 2,163 | |||
Buildings at cost | 33,458 | |||
Total at cost | 35,621 | |||
Accumulated Depreciation | 1,185 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1986 | |||
Date Acquired | Aug. 16, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1986 | Rowley, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,515 | |||
Initial costs, buildings | 19,652 | |||
Additions subsequent to acquisition, Improvements | 608 | |||
Land at cost | 3,123 | |||
Buildings at cost | 19,652 | |||
Total at cost | 22,775 | |||
Accumulated Depreciation | 717 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1986 | |||
Date Acquired | Aug. 16, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1922 [Member] | Warren, OH [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 2,417 | |||
Initial costs, buildings | 15,857 | |||
Additions subsequent to acquisition, Improvements | 1,384 | |||
Land at cost | 2,417 | |||
Buildings at cost | 17,241 | |||
Total at cost | 19,658 | |||
Accumulated Depreciation | 2,006 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1922 | |||
Date Acquired | May 1, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 46 years | |||
1922 [Member] | Lewiston, ID [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 5,389 | |||
Initial costs, buildings | 75,435 | |||
Land at cost | 5,389 | |||
Buildings at cost | 75,435 | |||
Total at cost | 80,824 | |||
Accumulated Depreciation | 9,353 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1922 | |||
Date Acquired | May 1, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1999 [Member] | Hartsville, SC [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,050 | |||
Initial costs, buildings | 43,970 | |||
Land at cost | 2,050 | |||
Buildings at cost | 43,970 | |||
Total at cost | 46,020 | |||
Accumulated Depreciation | 6,698 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1999 | |||
Date Acquired | Aug. 31, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 34 years | |||
2000 [Member] | Warren, OH [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 2,417 | |||
Initial costs, buildings | 15,857 | |||
Additions subsequent to acquisition, Improvements | 1,384 | |||
Land at cost | 2,417 | |||
Buildings at cost | 17,241 | |||
Total at cost | 19,658 | |||
Accumulated Depreciation | 2,006 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2000 | |||
Date Acquired | May 1, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 46 years | |||
2000 [Member] | Montclair, NJ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 7,900 | |||
Initial costs, buildings | 99,640 | |||
Additions subsequent to acquisition, Improvements | 577 | |||
Land at cost | 8,477 | |||
Buildings at cost | 99,640 | |||
Total at cost | 108,117 | |||
Accumulated Depreciation | 17,270 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2000 | |||
Date Acquired | Apr. 1, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2000 [Member] | Kingswood, Australia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 25,723 | |||
Initial costs, buildings | 85,264 | |||
Additions subsequent to acquisition, Improvements | 496 | |||
Land at cost | 26,219 | |||
Buildings at cost | 85,264 | |||
Total at cost | 111,483 | |||
Accumulated Depreciation | 3,435 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2000 | |||
Date Acquired | Jun. 7, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2000 [Member] | Lynwood, CA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 30,116 | |||
Initial costs, buildings | 148,527 | |||
Land at cost | 30,116 | |||
Buildings at cost | 148,527 | |||
Total at cost | 178,643 | |||
Accumulated Depreciation | 1,555 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2000 | |||
Date Acquired | Aug. 13, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1924 [Member] | Hastings, PA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 603 | |||
Initial costs, buildings | 8,834 | |||
Land at cost | 603 | |||
Buildings at cost | 8,834 | |||
Total at cost | 9,437 | |||
Accumulated Depreciation | 363 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1924 | |||
Date Acquired | Dec. 17, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 30 years | |||
1924 [Member] | Johnstown, PA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 8,877 | |||
Initial costs, buildings | 247,042 | |||
Additions subsequent to acquisition, carrying costs | 116 | |||
Land at cost | 8,877 | |||
Buildings at cost | 247,158 | |||
Total at cost | 256,035 | |||
Accumulated Depreciation | 8,359 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1924 | |||
Date Acquired | Dec. 17, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 30 years | |||
1924 [Member] | Roaring Springs, PA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,446 | |||
Initial costs, buildings | 9,549 | |||
Land at cost | 1,446 | |||
Buildings at cost | 9,549 | |||
Total at cost | 10,995 | |||
Accumulated Depreciation | 405 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1924 | |||
Date Acquired | Dec. 17, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 30 years | |||
1939 [Member] | Fairmont, CA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,000 | |||
Initial costs, buildings | 6,072 | |||
Additions subsequent to acquisition, Improvements | 5,278 | |||
Land at cost | 1,277 | |||
Buildings at cost | 11,073 | |||
Total at cost | 12,350 | |||
Accumulated Depreciation | 2,331 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1939 | |||
Date Acquired | Sep. 19, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1950 [Member] | Houston, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 28,687 | |||
Initial costs, buildings | 104,028 | |||
Additions subsequent to acquisition, Improvements | 17,462 | |||
Land at cost | 28,687 | |||
Buildings at cost | 121,490 | |||
Total at cost | 150,177 | |||
Accumulated Depreciation | 6,714 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1950 | |||
Date Acquired | Sep. 29, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
1950 [Member] | Fall River, MA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 3,526 | |||
Initial costs, buildings | 82,358 | |||
Additions subsequent to acquisition, Improvements | 24,463 | |||
Land at cost | 3,526 | |||
Buildings at cost | 106,821 | |||
Total at cost | 110,347 | |||
Accumulated Depreciation | 10,619 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1950 | |||
Date Acquired | Oct. 3, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
1950 [Member] | Methuen, MA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 23,809 | |||
Initial costs, buildings | 89,505 | |||
Additions subsequent to acquisition, Improvements | 9,184 | |||
Land at cost | 23,809 | |||
Buildings at cost | 98,689 | |||
Total at cost | 122,498 | |||
Accumulated Depreciation | 11,290 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1950 | |||
Date Acquired | Oct. 3, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
1950 [Member] | Rockledge, FL [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 13,919 | |||
Initial costs, buildings | 23,282 | |||
Additions subsequent to acquisition, Improvements | 5,512 | |||
Land at cost | 13,919 | |||
Buildings at cost | 28,794 | |||
Total at cost | 42,713 | |||
Accumulated Depreciation | 3,413 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1950 | |||
Date Acquired | May 1, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 42 years | |||
1950 [Member] | Sharon, PA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 6,179 | |||
Initial costs, buildings | 9,066 | |||
Additions subsequent to acquisition, Improvements | 6,435 | |||
Land at cost | 6,179 | |||
Buildings at cost | 15,501 | |||
Total at cost | 21,680 | |||
Accumulated Depreciation | 2,356 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1950 | |||
Date Acquired | May 1, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
1950 [Member] | Ottumwa, IA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,377 | |||
Initial costs, buildings | 48,697 | |||
Land at cost | 2,377 | |||
Buildings at cost | 48,697 | |||
Total at cost | 51,074 | |||
Accumulated Depreciation | 1,811 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1950 | |||
Date Acquired | Dec. 17, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 30 years | |||
Two Thousand Five | Haverhill, MA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 5,651 | |||
Initial costs, buildings | 105,848 | |||
Additions subsequent to acquisition, Improvements | 3,384 | |||
Land at cost | 5,651 | |||
Buildings at cost | 109,232 | |||
Total at cost | 114,883 | |||
Accumulated Depreciation | 6,674 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2005 | |||
Date Acquired | Aug. 31, 2018 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
Two Thousand Five | Gilbert, AZ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 150 | |||
Initial costs, buildings | 10,449 | |||
Land at cost | 150 | |||
Buildings at cost | 10,449 | |||
Total at cost | 10,599 | |||
Accumulated Depreciation | 3,838 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2005 | |||
Date Acquired | Jan. 4, 2011 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
Two Thousand Five | Port Arthur, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 12,972 | |||
Initial costs, buildings | 78,051 | |||
Additions subsequent to acquisition, Improvements | 3,384 | |||
Land at cost | 12,972 | |||
Buildings at cost | 81,435 | |||
Total at cost | 94,407 | |||
Accumulated Depreciation | 14,383 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2005 | |||
Date Acquired | Sep. 26, 2013 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
Two Thousand Five | Tomball, TX [member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Long term acute care hospital | |||
Initial costs, land | $ 1,299 | |||
Initial costs, buildings | 23,982 | |||
Land at cost | 1,299 | |||
Buildings at cost | 23,982 | |||
Total at cost | 25,281 | |||
Accumulated Depreciation | 5,996 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2005 | |||
Date Acquired | Dec. 21, 2010 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1940 [Member] | Houston, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 28,687 | |||
Initial costs, buildings | 104,028 | |||
Additions subsequent to acquisition, Improvements | 17,462 | |||
Land at cost | 28,687 | |||
Buildings at cost | 121,490 | |||
Total at cost | 150,177 | |||
Accumulated Depreciation | 6,714 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1940 | |||
Date Acquired | Sep. 29, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
1940 [Member] | Lynwood, CA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 30,116 | |||
Initial costs, buildings | 148,527 | |||
Land at cost | 30,116 | |||
Buildings at cost | 148,527 | |||
Total at cost | 178,643 | |||
Accumulated Depreciation | 1,555 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1940 | |||
Date Acquired | Aug. 13, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1940 [Member] | Taunton, MA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 4,428 | |||
Initial costs, buildings | 73,228 | |||
Additions subsequent to acquisition, Improvements | 11,290 | |||
Land at cost | 4,428 | |||
Buildings at cost | 84,518 | |||
Total at cost | 88,946 | |||
Accumulated Depreciation | 8,573 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1940 | |||
Date Acquired | Oct. 3, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
1940 [Member] | Tempe, AZ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 6,050 | |||
Initial costs, buildings | 10,986 | |||
Additions subsequent to acquisition, Improvements | 6,773 | |||
Land at cost | 6,050 | |||
Buildings at cost | 17,759 | |||
Total at cost | 23,809 | |||
Accumulated Depreciation | 1,457 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1940 | |||
Date Acquired | Sep. 29, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
1982 One [Member] | Garden Grove, CA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Medical Office Building | |||
Initial costs, land | $ 862 | |||
Initial costs, buildings | 7,888 | |||
Additions subsequent to acquisition, carrying costs | 28 | |||
Land at cost | 862 | |||
Buildings at cost | 7,916 | |||
Total at cost | 8,778 | |||
Accumulated Depreciation | 2,396 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1982 | |||
Date Acquired | Nov. 25, 2008 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2020 [Member] | Houston, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Behavioral health facility | |||
Initial costs, land | $ 6,063 | |||
Initial costs, buildings | 19,874 | |||
Land at cost | 6,063 | |||
Buildings at cost | 19,874 | |||
Total at cost | 25,937 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2020 | |||
Date Acquired | Oct. 25, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2020 [Member] | Idaho Falls, ID [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 380 | |||
Initial costs, buildings | 108,903 | |||
Land at cost | 380 | |||
Buildings at cost | 108,903 | |||
Total at cost | 109,283 | |||
Accumulated Depreciation | 2,486 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2020 | |||
Date Acquired | Dec. 19, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2002 [Member] | Idaho Falls, ID [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,822 | |||
Initial costs, buildings | 37,467 | |||
Additions subsequent to acquisition, Improvements | 11,236 | |||
Additions subsequent to acquisition, carrying costs | 4,665 | |||
Land at cost | 1,822 | |||
Buildings at cost | 53,368 | |||
Total at cost | 55,190 | |||
Accumulated Depreciation | 13,527 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2002 | |||
Date Acquired | Apr. 1, 2008 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2002 [Member] | Melbourne, FL [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 5,642 | |||
Initial costs, buildings | 17,087 | |||
Additions subsequent to acquisition, Improvements | 13,443 | |||
Land at cost | 5,642 | |||
Buildings at cost | 30,530 | |||
Total at cost | 36,172 | |||
Accumulated Depreciation | 2,132 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2002 | |||
Date Acquired | May 1, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 42 years | |||
2002 [Member] | San Antonio, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 8,053 | |||
Initial costs, buildings | 29,333 | |||
Additions subsequent to acquisition, Improvements | 1,945 | |||
Land at cost | 8,053 | |||
Buildings at cost | 31,278 | |||
Total at cost | 39,331 | |||
Accumulated Depreciation | 2,735 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2002 | |||
Date Acquired | Sep. 29, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
1920 [Member] | Montclair, NJ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 7,900 | |||
Initial costs, buildings | 99,640 | |||
Additions subsequent to acquisition, Improvements | 577 | |||
Land at cost | 8,477 | |||
Buildings at cost | 99,640 | |||
Total at cost | 108,117 | |||
Accumulated Depreciation | 17,270 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1920 | |||
Date Acquired | Apr. 1, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1920 [Member] | Newark, NJ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 32,957 | |||
Initial costs, buildings | 24,553 | |||
Land at cost | 32,957 | |||
Buildings at cost | 24,553 | |||
Total at cost | 57,510 | |||
Accumulated Depreciation | 106 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1920 | |||
Date Acquired | May 2, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1920 [Member] | Pasco, WA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 2,594 | |||
Initial costs, buildings | 13,195 | |||
Land at cost | 2,594 | |||
Buildings at cost | 13,195 | |||
Total at cost | 15,789 | |||
Accumulated Depreciation | 1,052 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1920 | |||
Date Acquired | Aug. 31, 2018 | |||
Life on which depreciation in latest income statements is computed (Years) | 30 years | |||
1920 [Member] | Sussex, NJ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Freestanding ER | |||
Initial costs, land | $ 477 | |||
Initial costs, buildings | 2,097 | |||
Land at cost | 477 | |||
Buildings at cost | 2,097 | |||
Total at cost | 2,574 | |||
Accumulated Depreciation | 10 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1920 | |||
Date Acquired | Sep. 30, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1954 [Member] | Camden, SC [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, buildings | $ 22,739 | |||
Buildings at cost | 22,739 | |||
Total at cost | 22,739 | |||
Accumulated Depreciation | 2,721 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1954 | |||
Date Acquired | Oct. 30, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 39 years | |||
1975 [Member] | Liverpool, Australia [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 14,605 | |||
Initial costs, buildings | 45,773 | |||
Additions subsequent to acquisition, Improvements | 101 | |||
Land at cost | 14,706 | |||
Buildings at cost | 45,773 | |||
Total at cost | 60,479 | |||
Accumulated Depreciation | 2,432 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1975 | |||
Date Acquired | Jun. 7, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 30 years | |||
1987 [Member] | London, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 3,500 | |||
Initial costs, buildings | 4,454 | |||
Additions subsequent to acquisition, Improvements | 27 | |||
Land at cost | 3,527 | |||
Buildings at cost | 4,454 | |||
Total at cost | 7,981 | |||
Accumulated Depreciation | 113 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1987 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1987 [Member] | Salt Lake City, UT [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 13,590 | |||
Initial costs, buildings | 101,915 | |||
Additions subsequent to acquisition, Improvements | 15,109 | |||
Land at cost | 13,590 | |||
Buildings at cost | 117,024 | |||
Total at cost | 130,614 | |||
Accumulated Depreciation | 8,751 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1987 | |||
Date Acquired | Sep. 29, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
1987 [Member] | Orpington, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 10,936 | |||
Initial costs, buildings | 45,864 | |||
Additions subsequent to acquisition, Improvements | 164 | |||
Land at cost | 11,100 | |||
Buildings at cost | 45,864 | |||
Total at cost | 56,964 | |||
Accumulated Depreciation | 1,157 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1987 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2017 One [Member] | Phoenix, AZ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 5,576 | |||
Initial costs, buildings | 45,782 | |||
Land at cost | 5,576 | |||
Buildings at cost | 45,782 | |||
Total at cost | 51,358 | |||
Accumulated Depreciation | 4,483 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2017 | |||
Date Acquired | Feb. 10, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1996 [Member] | McMinnville, OR [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 5,000 | |||
Initial costs, buildings | 97,900 | |||
Land at cost | 5,000 | |||
Buildings at cost | 97,900 | |||
Total at cost | 102,900 | |||
Accumulated Depreciation | 11,641 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1996 | |||
Date Acquired | Aug. 31, 2015 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
1996 [Member] | Poole, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,942 | |||
Initial costs, buildings | 41,213 | |||
Additions subsequent to acquisition, Improvements | 555 | |||
Land at cost | 2,497 | |||
Buildings at cost | 41,213 | |||
Total at cost | 43,710 | |||
Accumulated Depreciation | 1,868 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1996 | |||
Date Acquired | Apr. 3, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1919 [Member] | Newark, NJ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 32,957 | |||
Initial costs, buildings | 24,553 | |||
Land at cost | 32,957 | |||
Buildings at cost | 24,553 | |||
Total at cost | 57,510 | |||
Accumulated Depreciation | 106 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1919 | |||
Date Acquired | May 2, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2003 [Member] | Newark, NJ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 32,957 | |||
Initial costs, buildings | 24,553 | |||
Land at cost | 32,957 | |||
Buildings at cost | 24,553 | |||
Total at cost | 57,510 | |||
Accumulated Depreciation | 106 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2003 | |||
Date Acquired | May 2, 2016 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
2003 [Member] | Youngstown, OH [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 4,335 | |||
Initial costs, buildings | 3,565 | |||
Additions subsequent to acquisition, Improvements | 824 | |||
Land at cost | 4,335 | |||
Buildings at cost | 4,389 | |||
Total at cost | 8,724 | |||
Accumulated Depreciation | 2,160 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2003 | |||
Date Acquired | May 1, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
1926 [Member] | Norwood, MA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 7,073 | |||
Initial costs, buildings | 154,496 | |||
Additions subsequent to acquisition, Improvements | 35,897 | |||
Land at cost | 7,073 | |||
Buildings at cost | 190,393 | |||
Total at cost | 197,466 | |||
Accumulated Depreciation | 9,055 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1926 | |||
Date Acquired | Jun. 27, 2018 | |||
Life on which depreciation in latest income statements is computed (Years) | 46 years | |||
2017 [Member] | Phoenix, AZ [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 12,695 | |||
Initial costs, buildings | 73,773 | |||
Additions subsequent to acquisition, Improvements | 4,978 | |||
Land at cost | 12,695 | |||
Buildings at cost | 78,751 | |||
Total at cost | 91,446 | |||
Accumulated Depreciation | 6,703 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1968 | |||
Date Acquired | Sep. 29, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1988 [Member] | Palestine, TX [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,848 | |||
Initial costs, buildings | 95,257 | |||
Land at cost | 1,848 | |||
Buildings at cost | 95,257 | |||
Total at cost | 97,105 | |||
Accumulated Depreciation | 2,496 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1988 | |||
Date Acquired | Dec. 17, 2019 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1964 [Member] | San Diego, CA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 6,550 | |||
Initial costs, buildings | 15,653 | |||
Additions subsequent to acquisition, carrying costs | 77 | |||
Land at cost | 6,550 | |||
Buildings at cost | 15,730 | |||
Total at cost | 22,280 | |||
Accumulated Depreciation | 5,372 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1964 | |||
Date Acquired | May 9, 2007 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1964 [Member] | Anaheim, CA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 1,875 | |||
Initial costs, buildings | 21,813 | |||
Additions subsequent to acquisition, carrying costs | 10 | |||
Land at cost | 1,875 | |||
Buildings at cost | 21,823 | |||
Total at cost | 23,698 | |||
Accumulated Depreciation | 7,729 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1964 | |||
Date Acquired | Nov. 8, 2006 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1906 [Member] | Salt Lake City, UT [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 13,590 | |||
Initial costs, buildings | 101,915 | |||
Additions subsequent to acquisition, Improvements | 15,109 | |||
Land at cost | 13,590 | |||
Buildings at cost | 117,024 | |||
Total at cost | 130,614 | |||
Accumulated Depreciation | 8,751 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1906 | |||
Date Acquired | Sep. 29, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
1913 [Member] | Sherman Texas | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 3,363 | |||
Initial costs, buildings | 10,932 | |||
Land at cost | 3,363 | |||
Buildings at cost | 10,932 | |||
Total at cost | 14,295 | |||
Accumulated Depreciation | 3,169 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1913 | |||
Date Acquired | Oct. 31, 2014 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
1929 [Member] | Youngstown, OH [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 4,335 | |||
Initial costs, buildings | 3,565 | |||
Additions subsequent to acquisition, Improvements | 824 | |||
Land at cost | 4,335 | |||
Buildings at cost | 4,389 | |||
Total at cost | 8,724 | |||
Accumulated Depreciation | 2,160 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1929 | |||
Date Acquired | May 1, 2017 | |||
Life on which depreciation in latest income statements is computed (Years) | 41 years | |||
Two Thousand Twenty One | Stockton, California [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Rehabilitation hospital | |||
Initial costs, land | $ 2,932 | |||
Land at cost | 2,932 | |||
Total at cost | 2,932 | |||
Encumbrances | $ 0 | |||
Date of Construction | 2021 | |||
Date Acquired | Nov. 23, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
Nineteen Sixty Two | West Monroe, LA [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 12,000 | |||
Initial costs, buildings | 69,433 | |||
Additions subsequent to acquisition, Improvements | 16,187 | |||
Land at cost | 12,552 | |||
Buildings at cost | 85,068 | |||
Total at cost | 97,620 | |||
Accumulated Depreciation | 14,060 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1962 | |||
Date Acquired | Sep. 26, 2013 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
Nineteen Eleven | Winchester, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 6,835 | |||
Initial costs, buildings | 11,035 | |||
Additions subsequent to acquisition, Improvements | 130 | |||
Land at cost | 6,965 | |||
Buildings at cost | 11,035 | |||
Total at cost | 18,000 | |||
Accumulated Depreciation | 284 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1911 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years | |||
Nineteen Fifty Five | Windsor, UK [Member] | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Type of property | Acute care general hospital | |||
Initial costs, land | $ 12,973 | |||
Initial costs, buildings | 112,450 | |||
Additions subsequent to acquisition, Improvements | 109 | |||
Land at cost | 13,082 | |||
Buildings at cost | 112,450 | |||
Total at cost | 125,532 | |||
Accumulated Depreciation | 2,818 | |||
Encumbrances | $ 0 | |||
Date of Construction | 1955 | |||
Date Acquired | Jan. 9, 2020 | |||
Life on which depreciation in latest income statements is computed (Years) | 40 years |
Schedule III - Real Estate In_3
Schedule III - Real Estate Investments and Accumulated Depreciation (Parenthetical) (Detail) $ in Billions | Dec. 31, 2020USD ($) |
Real Estate And Accumulated Depreciation Disclosure [Abstract] | |
Aggregate cost for federal income tax purposes | $ 10.9 |
Schedule III - Changes in Total
Schedule III - Changes in Total Real Estate Assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Real Estate And Accumulated Depreciation Disclosure [Abstract] | ||||
Balance at beginning of period | $ 7,312,486 | $ 4,781,149 | $ 5,438,148 | |
Acquisitions | 2,912,594 | 2,436,265 | 758,619 | |
Transfers from construction in progress | 202,999 | 25,513 | ||
Additions | 55,137 | 173,785 | 96,775 | |
Dispositions | (105,360) | (106,536) | (1,318,238) | |
Other | [1] | 371,851 | 27,823 | (219,668) |
Balance at end of period | $ 10,749,707 | $ 7,312,486 | $ 4,781,149 | |
[1] | Includes foreign currency fluctuations for all years and $13.8 million and $61.4 million of right-of-use assets in 2020 and 2019, respectively. |
Schedule III - Changes in Accum
Schedule III - Changes in Accumulated Depreciation (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Real Estate And Accumulated Depreciation Disclosure [Abstract] | |||
Balance at beginning of period | $ 504,651 | $ 414,331 | $ 407,349 |
Depreciation | 222,580 | 130,851 | 115,497 |
Depreciation on disposed property | (6,653) | (40,952) | (101,967) |
Other | 7,598 | 421 | (6,548) |
Balance at end of period | $ 728,176 | $ 504,651 | $ 414,331 |
Schedule III - Changes in Acc_2
Schedule III - Changes in Accumulated Depreciation (Parenthetical) (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Real Estate And Accumulated Depreciation Disclosure [Abstract] | ||
Right-of-use-assets | $ 75,209 | $ 61,380 |
Changes in right-of-use asset | $ 13,832 | $ 1,818 |
Schedule IV - Schedule of Mortg
Schedule IV - Schedule of Mortgage Loans on Real Estate (Detail) - USD ($) | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Mortgage Loans on Real Estate [Line Items] | ||||
Prior Liens | $ 0 | |||
Face Amount of Mortgages | 248,335,000 | |||
Carrying Amount of Mortgages | 248,335,000 | $ 1,274,995,000 | $ 1,213,283,000 | $ 1,778,264,000 |
Principal Amount of Loans Subject to Delinquent Principal or Interest | $ 0 | |||
Long-Term First Mortgage Loan [Member] | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Periodic Payment Terms | Payable in monthly installments of interest plus principal payable in full at maturity | |||
Long-Term First Mortgage Loan [Member] | Colombia [Member] | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Interest Rate | 8.95% | |||
Final Maturity Date | 2035 | |||
Face Amount of Mortgages | $ 136,332,000 | |||
Carrying Amount of Mortgages | 136,332,000 | |||
Principal Amount of Loans Subject to Delinquent Principal or Interest | $ 0 | |||
Long-Term First Mortgage Loan [Member] | East Ohio Regional Hospital [Member] | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Interest Rate | 8.00% | |||
Final Maturity Date | 2025 | |||
Face Amount of Mortgages | $ 1,750,000 | |||
Carrying Amount of Mortgages | 1,750,000 | |||
Principal Amount of Loans Subject to Delinquent Principal or Interest | $ 0 | |||
Long-Term First Mortgage Loan [Member] | Olympia Medical Center [Member] | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Interest Rate | 11.14% | |||
Final Maturity Date | 2024 | |||
Face Amount of Mortgages | $ 25,000,000 | |||
Carrying Amount of Mortgages | 25,000,000 | |||
Principal Amount of Loans Subject to Delinquent Principal or Interest | $ 0 | |||
Long-Term First Mortgage Loan [Member] | St. Luke's Hospital [Member] | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Interest Rate | 0.00% | |||
Final Maturity Date | 2021 | |||
Face Amount of Mortgages | $ 15,000,000 | |||
Carrying Amount of Mortgages | 15,000,000 | |||
Principal Amount of Loans Subject to Delinquent Principal or Interest | $ 0 | |||
Long-Term First Mortgage Loan [Member] | Vibra [Member] | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Interest Rate | 11.50% | |||
Final Maturity Date | 2024 | |||
Face Amount of Mortgages | $ 18,986,000 | |||
Carrying Amount of Mortgages | 18,986,000 | |||
Principal Amount of Loans Subject to Delinquent Principal or Interest | $ 0 | |||
Long-Term First Mortgage Loan [Member] | Prospect [Member] | ||||
Mortgage Loans on Real Estate [Line Items] | ||||
Interest Rate | 7.50% | |||
Final Maturity Date | 2034 | |||
Face Amount of Mortgages | $ 51,267,000 | |||
Carrying Amount of Mortgages | 51,267,000 | |||
Principal Amount of Loans Subject to Delinquent Principal or Interest | $ 0 |
Schedule IV - Schedule of Mor_2
Schedule IV - Schedule of Mortgage Loans on Real Estate (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2020USD ($)Property | |
Mortgage Loans on Real Estate [Line Items] | |
Prior Liens | $ 0 |
Carrying amount of mortgages, federal income tax purposes | 248,300,000 |
Unamortized loan issue costs | $ 300,000 |
Colombia [Member] | Long-Term First Mortgage Loan [Member] | |
Mortgage Loans on Real Estate [Line Items] | |
Number of properties | Property | 3 |
Interest Rate | 8.95% |
Schedule IV - Changes in Mortga
Schedule IV - Changes in Mortgage Loans Excluding Unamortized Loan Issue Costs (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Mortgage Loans On Real Estate [Abstract] | |||
Balance at beginning of year | $ 1,274,995 | $ 1,213,283 | $ 1,778,264 |
New mortgage loans and additional advances on existing loans | 193,590 | 61,712 | 50,783 |
Exchange rate fluctuations | 9,785 | ||
Mortgage loans on real estate including additions during year | 1,478,370 | 1,274,995 | 1,829,047 |
Collection of principal | (1,230,035) | (615,764) | |
Deductions during year | (1,230,035) | (615,764) | |
Balance at end of year | $ 248,335 | $ 1,274,995 | $ 1,213,283 |
Schedule IV - Changes in Mort_2
Schedule IV - Changes in Mortgage Loans Excluding Unamortized Loan Issue Costs (Parenthetical) (Detail) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2018 | |
Mortgage Loans on Real Estate [Line Items] | |||
Loans repaid | [1] | $ 834,743 | $ 764,447 |
Mortgage Loans [Member] | |||
Mortgage Loans on Real Estate [Line Items] | |||
Loans repaid | $ 835,000 | ||
[1] | The 2020 column includes approximately $750 million of loans advanced to Steward in 2017 and exchanged for the fee simple real estate of two hospitals as described below, as well as approximately $100 million of loans advanced to Ernest Health, Inc. (“Ernest”) in 2012 and exchanged for the fee simple real estate of four hospitals as described below. The 2018 column includes $0.8 billion of loans advanced to Steward in 2016 and repaid in 2018 as part of sale leaseback conversion described below. |