1 unchanged sentence
The gross book value of real estate assets at cost plus certain acquisition costs, before depreciation and purchase price allocations and less impairment write downs, or gross book value of real estate assets, of these properties totaled $6.3 billion at December 31, 2025.
−Removed: As of December 31, 2024, nine properties with a gross book value of real estate assets of $301.0 million were encumbered by two mortgages with an aggregate principal balance of $127.5 million.
−Removed: As of December 31, 2024, 95 properties with a gross book value of real estate assets of $1.6 billion were encumbered by our senior secured notes due 2026 with a principal balance of $940.5 million.
+Added: As of December 31, 2025, 14 properties with a gross book value of real estate assets of $326.6 million were encumbered by our undrawn secured revolving credit facility.
+Added: As of December 31, 2025, 36 properties with a gross book value of real estate assets of $402.8 million were encumbered by our senior secured notes due 2030 with a principal balance of $375.0 million.
+Added: As of December 31, 2025, 36 properties with a gross book value of real estate assets of $657.3 million were encumbered by six mortgages with an aggregate principal balance of $468.5 million.
As of December 31, 2025, two properties with a gross book value of real estate assets of $20.1 million were subject to finance lease obligations with an aggregate principal balance of $0.6 million.
−Removed: The eleven properties owned by our unconsolidated joint ventures in which we own 10% and 20% interests were encumbered by three mortgages totaling $1.1 billion as of December 31, 2024.
+Added: The 11 properties owned by our unconsolidated joint ventures in which we own 10% and 20% interests were encumbered by three mortgages totaling $1.5 billion as of December 31, 2025.
For more information regarding our finance leases, mortgages, senior secured notes and two unconsolidated joint ventures, see Notes 3 and 9 to our Consolidated Financial Statements included in Part IV, Item 15 of this Annual Report on Form 10-K.
1 unchanged sentence
All dollar amounts are in thousands:
−Removed: Medical Office and Life Science Portfolio SHOP All Other Consolidated
+Added: SHOP Medical Office and Life Science Portfolio All Other Consolidated
+Added: State Number of
Properties Gross Book Value of Real Estate Assets (1)
−Removed: Value Number of
Properties Gross Book Value of Real Estate Assets (1)
42 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.