Item 2. Properties
ITEM 2. Properties
As of December 31, 2022, all of our properties are leased under long-term, triple-net leases, except for two ALFs for which we are in the process of identifying an operator and two ALFs which are being repurposed. The following table displays the expiration of the annualized contractual cash rental income under our lease agreements as of December 31, 2022 by year and total investment (dollars in thousands) and, in each case, without giving effect to any renewal or purchase options:
Lease
Maturity Percent of Total Percent of
Year Investment (1)
Investment Rent (1)
Total Rent
2024 $ 15,800 0.9 % $ 1,537 0.8 %
2027 46,801 2.6 % 5,342 2.8 %
2029 114,116 6.3 % 9,051 4.8 %
2030 119,868 6.6 % 11,353 6.0 %
2031 527,678 29.0 % 54,672 29.1 %
2032 179,936 9.9 % 18,027 9.6 %
2033 125,216 6.9 % 19,847 10.6 %
2034 438,011 24.1 % 43,925 23.4 %
2036 146,487 8.1 % 13,862 7.4 %
2038 103,001 5.6 % 10,401 5.5 %
Total $ 1,816,914 100.0 % $ 188,017 100.0 %
(1) Amounts exclude properties classified as held for sale as of December 31, 2022.
See the “Tenant Purchase Options” section of Note 3, Real Estate Investments, Net in the Notes to consolidated financial statements for additional information on leases subject to purchase options.
The information set forth under “Portfolio Summary” in Item 1 of this Annual Report on Form 10-K is incorporated by reference herein.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.