8 unchanged sentences
Seniors Housing — Operating Properties 52 (4) 4,030,413 75.1% (5) N/A 1,140,608
−Removed: Land 2 — N/A N/A 3,665
Total Portfolio 202 9,121,370 $ 2,564,412
4 unchanged sentences
Impairment charges are already reflected within gross asset value.
+Added: (4) Includes two parcels of land.
(5) Weighted by unit count as of December 31, 2022.
As of December 31, 2022, we had 4,374 rentable units in our SHOP segment.
+Added: Excludes land parcels.
N/A Not applicable.
25 unchanged sentences
Nevada 2 3,270 1.0 % 86,342 0.9 % —
+Added: New Jersey 1 773 0.2 % 25,164 0.3 % —
New York 4 2,598 0.8 % 119,602 1.3 % —
11 unchanged sentences
Total 202 $ 313,617 100 % 9,121,370 100 % 4,374
−Removed: (1) Annualized rental income on a straight-line basis for the leases in place in the property portfolio as of December 31, 2021, which includes tenant concessions such as free rent, as applicable, as well as annualized gross revenue from our SHOPs for the fourth quarter of 2021.
+Added: (1) Annualized rental income on a straight-line basis for the leases in place in the property portfolio as of December 31, 2022, which includes tenant concessions such as free rent, as applicable, as well as annualized gross revenue from our SHOPs based off the fourth quarter of 2022.
Future Minimum Lease Payments
−Removed: The following table presents future minimum base rental cash payments due to us (excluding the SHOP segment) over the next ten years and thereafter as of December 31, 2021.
+Added: The following table presents future minimum base rental cash payments due to us (excluding our SHOP segment) over the next ten years and thereafter as of December 31, 2022.
The SHOP segment is excluded as the leases of units with residents are generally for annual periods or month to month.
−Removed: These amounts exclude contingent rent payments, as applicable, that may be collected from certain tenants based on provisions related to performance thresholds and increases in annual rent based on exceeding certain economic indexes, among other items.
+Added: These amounts exclude tenant reimbursements and contingent rent payments, as applicable, that may be collected from certain tenants based on provisions related to performance thresholds and increases in annual rent based on exceeding certain economic indexes, among other items.
(In thousands) Future Minimum
3 unchanged sentences
Future Lease Expirations Table
−Removed: The following is a summary of lease expirations for the next ten years at the properties we owned (excluding the SHOP segment) as of December 31, 2021:
+Added: The following is a summary of lease expirations for the next ten years at the properties we owned (excluding our SHOP segment) as of December 31, 2022:
Year of Expiration
17 unchanged sentences
_____________
−Removed: (1) Annualized rental income on a straight-line basis for the leases in place in the property portfolio as of December 31, 2021, excluding SHOPs, which includes tenant concessions such as free rent, as applicable.
+Added: (1) Annualized rental income on a straight-line basis for the leases in place in the property portfolio as of December 31, 2022, which includes tenant concessions such as free rent, as applicable.
Tenant Concentration
4 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 and 64 units dedicated to assisted living patients.
+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, 64 units dedicated to assisted living patients and 32 units dedicated to memory care patients.
As of December 31, 2022, this property represented 5.4% of our total rentable square feet and 4.8% 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.