6 unchanged sentences
(In thousands)
−Removed: Medical Office Buildings 117 3,911,937 91.6% 4.9 $ 1,087,266
−Removed: Triple-Net Leased Healthcare Facilities:
−Removed: 6 514,962 90.7% 6.2 133,580
−Removed: Post-Acute / Skilled Nursing (4)
−Removed: 8 354,016 100.0% 6.8 86,574
−Removed: Total Triple-Net Leased Healthcare Facilities 14 868,978 94.5% (6) 6.5 220,154
−Removed: Seniors Housing — Operating Properties (4)(7)
−Removed: 59 4,367,124 75.1% (5) N/A 1,229,288
−Removed: Jupiter Property — Recently Developed 1 235,445 10.0% (6) 9.9 59,330
−Removed: Land 2 N/A N/A N/A 3,665
+Added: Medical Office and Other Healthcare Related Buildings 146 5,018,036 91.5% 4.9 $ 1,424,581
+Added: Seniors Housing — Operating Properties 54 4,133,166 74.1% (4) N/A 1,160,878
+Added: Land 2 — N/A N/A 3,665
Total Portfolio 202 9,151,202 $ 2,589,124
2 unchanged sentences
(2) Weighted-average remaining lease term in years is calculated based on square feet as of December 31, 2021.
−Removed: (3) Gross asset value represents total real estate investments, at cost ($2.6 billion total as of December 31, 2020) and assets held for sale at carrying value ($0.1 million total as of December 31, 2020), net of gross market lease intangible liabilities ($22.1 million total as of December 31, 2020).
+Added: (3) Gross asset value represents total real estate investments, at cost ($2.6 billion total as of December 31, 2021), net of gross market lease intangible liabilities ($23.5 million total as of December 31, 2021).
Impairment charges are already reflected within gross asset value.
−Removed: (4) Four properties were transitioned from Post-Acute / Skilled Nursing within our triple-net leased healthcare facilities segment to our SHOP segment during the period from January 1, 2020 through December 31, 2020 (the “Transition Properties”).
−Removed: The Transition Properties are presented within the SHOP segment as of December 31, 2020.
−Removed: See Results of Operations for more information on these properties.
(4) Weighted by unit count as of December 31, 2021.
−Removed: (6) Our development property in Jupiter, Florida was substantially completed in the fourth quarter of 2019.
−Removed: See Note 3 — Real Estate Investments - “Development Property” to our consolidated financial statements included in this Annual Report on Form 10-K for additional information.
−Removed: Although a portion of the property has been leased as of December 31, 2020, the property is separately shown and excluded from combined occupancy numbers.
−Removed: Occupancy in the triple-net leased healthcare facilities segment would have been 76.5% had the development property been included.
−Removed: This property is expected to be sold in late March or second quarter of 2021.
−Removed: (7) One skilled nursing facility in Wellington, Florida is expected to be sold in 2021.
−Removed: Subsequent to December 31, 2020, four MI SHOPs were transferred to their buyer pursuant to their sale in November, 2020.
−Removed: See Note 18 — Subsequent Events for more information.
+Added: As of December 31, 2021, we had 4,494 rentable units in our SHOP segment.
N/A Not applicable.
2 unchanged sentences
Annualized Rental Income as a Percentage of the Total Portfolio Rentable Square Feet Percentage of Portfolio
−Removed: Rentable Square Feet
+Added: Rentable Square Feet Rentable Units in SHOP Segment
(In thousands)
20 unchanged sentences
Nevada 2 3,264 1.1 % 86,342 0.9 % —
+Added: New York 4 2,633 0.9 % 119,602 1.3 % —
North Carolina 2 761 0.2 % 68,122 0.7 % —
Ohio 5 7,863 2.5 % 172,085 1.9 % —
+Added: Oklahoma 2 1,092 0.4 % 47,407 0.5 % —
Oregon 2 8,747 2.8 % 267,748 2.9 % 252
44 unchanged sentences
In December 2014, we purchased Wellington at Hershey’s Mill, a seniors housing property located in West Chester, Pennsylvania.
−Removed: Wellington at Hershey’s Mill, which is leased to our TRS and operated and managed on our behalf by a third-party operator in our SHOP segment, contains 491,710 rentable square feet and consists of 193 units dedicated to independent living patients, 64 units dedicated to assisted living patients and 36 units for patients requiring skilled nursing services.
+Added: Wellington at Hershey’s Mill, which is leased to our TRS and operated and managed on our behalf by a third-party operator in our SHOP segment, contains 491,710 rentable square feet and consists of 193 units dedicated to independent living patients and 64 units dedicated to assisted living patients.
As of December 31, 2021, this property represented 5.4% of our total rentable square feet and 4.2% of our total annualized rental income on a straight-line basis.
6 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.