6 unchanged sentences
(In thousands)
−Removed: Medical Office and Other Healthcare Related Buildings 156 5,153,419 90.6% 4.7 $ 1,468,401
−Removed: Seniors Housing — Operating Properties 48 (4) 3,857,652 74.1% (5) N/A 1,133,238
+Added: Outpatient Medical Facilities
+Added: 148 4,716,949 89.7% 6.5 $ 1,381,166
+Added: Seniors Housing Operating Properties
+Added: 45 (4) 3,683,949 78.5% (5) N/A 1,082,953
Total Portfolio 193 8,400,898 $ 2,464,119
2 unchanged sentences
(3) Gross asset value represents total real estate investments, at cost ($2.5 billion total as of December 31, 2024), net of gross market lease intangible liabilities ($22.8 million total as of December 31, 2024).
−Removed: Impairment charges are already reflected within gross asset value.
−Removed: (4) Includes two parcels of land with a total gross asset value of $3.7 million.
+Added: Cumulative impairment charges are already reflected within gross asset value.
+Added: (4) Includes one parcel of land with a total gross asset value of $0.6 million.
(5) Weighted by unit count as of December 31, 2024.
As of December 31, 2024, we had 3,919 rentable units in our SHOP segment.
+Added: The SHOP segment excludes one closed SHOP with 39 rentable units, one SHOP with 20 units under renovation and one land parcel.
+Added: (6) Percentage leased for the OMF segment is presented as of the end of the period shown;
+Added: percentage leased for the SHOP segment is presented for the duration of the period shown.
N/A Not applicable.
−Removed: T able of Contents
The following table details the geographic distribution, by state, of our portfolio as of December 31, 2024:
37 unchanged sentences
Total 192 $ 323,573 100 % 8,400,898 100 % 3,919
−Removed: (1) Includes two land parcels located in Florida and Iowa.
+Added: (1) Includes one land parcel located in Iowa.
(2) Annualized rental income on a straight-line basis for the leases in place in the property portfolio as of December 31, 2024, 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 2024.
−Removed: T able of Contents
Future Minimum Lease Payments
27 unchanged sentences
(1) Annualized rental income on a straight-line basis for the leases in place in the property portfolio as of December 31, 2024, which includes tenant concessions such as free rent, as applicable.
−Removed: Tenant Concentration
−Removed: As of December 31, 2023, we did not have any tenants (including for this purpose, all affiliates of such tenants) whose annualized rental income on a straight-line basis represented 10% or more of total annualized rental income on a straight-line basis for our portfolio.
−Removed: T able of Contents
−Removed: Significant Portfolio Properties
−Removed: As of December 31, 2023, the rentable square feet or annualized rental income on a straight-line basis of one property represented 5% or more of our total portfolio’s rentable square feet or annualized rental income on a straight-line basis:
−Removed: Wellington at Hershey’s Mill - West Chester, PA
−Removed: 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 289 rentable units (193 units dedicated to independent living patients, 64 units dedicated to assisted living patients and 32 units dedicated to memory care patients).
−Removed: As of December 31, 2023, this property represented 5.5% of our total rentable square feet and 5.4% of our total annualized rental income on a straight-line basis.
Property Financings
−Removed: See Note 4 — Mortgage Notes Payable, Net and Note 5 — Credit Facilities to our consolidated financial statements in this Annual Report on Form 10-K for property financings as of December 31, 2023 and 2022.
+Added: See Note 4 — Mortgage Notes Payable, Net and Note 5 — Credit Facilities to our Consolidated Financial Statements for property financings as of December 31, 2024 and 2023.
Legal Proceedings
3 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.