DIVERSIFIED HEALTHCARE TRUST
For the period ended Dec 31, 2023. Filed Feb 26, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 26, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 2. Properties
At December 31, 2023, our portfolio was comprised of 371 owned properties. 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 $7.2 billion at December 31, 2023. As of December 31, 2023, two properties with a gross book value of real estate assets of $43.4 million were subject to finance lease obligations with an aggregate principal balance of $3.9 million. As of December 31, 2023, one property with a gross book value of real estate assets of $25.0 million was encumbered by a mortgage with a principal balance of $9.1 million. As of December 31, 2023, 95 properties with a gross book value of real estate assets of $1.6 billion were encumbered by our senior secured notes with a principal balance of $940.5 million. 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, 2023. 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.
The following table summarizes certain information about our owned properties as of December 31, 2023. All dollar amounts are in thousands:
| Office Portfolio | Senior Housing Operating Portfolio | All Other | Consolidated | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| State | Number ofProperties | Gross Book Value of Real Estate Assets(1) | Net BookValue | Number ofProperties | Gross Book Value of Real Estate Assets(1) | Net BookValue | Number ofProperties | Gross Book Value of Real Estate Assets(1) | Net BookValue | Number ofProperties | Gross Book Value of Real Estate Assets(1) | Net BookValue |
| AL | — | $— | $— | 8 | $105,624 | $73,132 | — | $— | $— | 8 | $105,624 | $73,132 |
| AR | — | — | — | 3 | 46,373 | 27,703 | — | — | — | 3 | 46,373 | 27,703 |
| AZ | 4 | 77,357 | 54,998 | 6 | 171,288 | 103,994 | 1 | 3,510 | 1,885 | 11 | 252,155 | 160,877 |
| CA | 10 | 448,262 | 328,089 | 9 | 211,388 | 134,862 | 1 | 7,281 | 3,994 | 20 | 666,931 | 466,945 |
| CO | 2 | 20,780 | 12,373 | 8 | 116,698 | 75,925 | 2 | 18,594 | 11,783 | 12 | 156,072 | 100,081 |
| CT | 1 | 7,928 | 5,243 | — | — | — | — | — | — | 1 | 7,928 | 5,243 |
| DC | 2 | 107,529 | 80,622 | — | — | — | — | — | — | 2 | 107,529 | 80,622 |
| DE | — | — | — | 6 | 125,926 | 82,377 | — | — | — | 6 | 125,926 | 82,377 |
| FL | 7 | 43,691 | 30,271 | 19 | 667,684 | 429,150 | 2 | 18,487 | 16,501 | 28 | 729,862 | 475,922 |
| GA | 5 | 89,609 | 60,611 | 25 | 322,044 | 214,549 | 2 | 50,028 | 36,416 | 32 | 461,681 | 311,576 |
| HI | 1 | 80,643 | 56,944 | — | — | — | — | — | — | 1 | 80,643 | 56,944 |
| ID | — | — | — | — | — | — | 2 | 23,298 | 15,541 | 2 | 23,298 | 15,541 |
| IL | 4 | 70,142 | 44,639 | 11 | 186,787 | 109,603 | 1 | 20,641 | 13,115 | 16 | 277,570 | 167,357 |
| IN | 1 | 22,296 | 12,445 | 11 | 183,207 | 121,584 | 2 | 69,406 | 48,704 | 14 | 274,909 | 182,733 |
| KS | 2 | 63,299 | 39,240 | 3 | 71,093 | 44,037 | — | — | — | 5 | 134,392 | 83,277 |
| KY | — | — | — | 9 | 120,188 | 67,793 | — | — | — | 9 | 120,188 | 67,793 |
| MA | 6 | 166,169 | 123,338 | 1 | 35,524 | 20,967 | — | — | — | 7 | 201,693 | 144,305 |
| MD | 1 | 8,252 | 5,707 | 11 | 269,741 | 180,513 | 1 | 20,964 | 14,605 | 13 | 298,957 | 200,825 |
| MI | — | — | — | — | — | — | 5 | 15,942 | 8,617 | 5 | 15,942 | 8,617 |
| MN | 9 | 128,542 | 85,784 | 1 | 16,969 | 12,514 | 2 | 6,319 | 3,440 | 12 | 151,830 | 101,738 |
| MO | 3 | 141,111 | 89,045 | 5 | 73,817 | 46,698 | — | — | — | 8 | 214,928 | 135,743 |
| NC | 2 | 61,899 | 42,663 | 16 | 240,351 | 174,940 | 1 | 6,839 | 3,689 | 19 | 309,089 | 221,292 |
| NE | — | — | — | 1 | 8,661 | 5,312 | 1 | 26,702 | 18,239 | 2 | 35,363 | 23,551 |
| NJ | — | — | — | 3 | 128,507 | 88,895 | 1 | 2,277 | 2,277 | 4 | 130,784 | 91,172 |
| NM | 2 | 39,879 | 28,465 | 1 | 34,237 | 19,433 | 3 | 33,303 | 20,620 | 6 | 107,419 | 68,518 |
| NV | — | — | — | 2 | 85,927 | 58,415 | — | — | — | 2 | 85,927 | 58,415 |
| NY | 3 | 80,821 | 53,425 | 1 | 115,283 | 80,642 | — | — | — | 4 | 196,104 | 134,067 |
| OH | 1 | 18,601 | 11,573 | 1 | 50,011 | 29,616 | 1 | 4,428 | 1,643 | 3 | 73,040 | 42,832 |
| OR | — | — | — | 1 | 50,225 | 43,158 | — | — | — | 1 | 50,225 | 43,158 |
| PA | 4 | 57,376 | 37,442 | 7 | 93,517 | 57,080 | 2 | 3,535 | 1,952 | 13 | 154,428 | 96,474 |
| SC | 1 | 4,942 | 3,291 | 17 | 141,655 | 99,483 | 2 | 3,935 | 2,195 | 20 | 150,532 | 104,969 |
| TN | 1 | 9,764 | 6,159 | 13 | 185,177 | 137,456 | 2 | 15,667 | 9,698 | 16 | 210,608 | 153,313 |
| TX | 11 | 223,296 | 149,414 | 13 | 390,146 | 251,462 | 1 | 20,502 | 13,618 | 25 | 633,944 | 414,494 |
| VA | 8 | 130,117 | 83,289 | 11 | 150,770 | 97,382 | — | — | — | 19 | 280,887 | 180,671 |
| WA | — | — | — | — | — | — | 2 | 18,743 | 10,714 | 2 | 18,743 | 10,714 |
| WI | 10 | 169,236 | 112,860 | 7 | 121,620 | 83,833 | — | — | — | 17 | 290,856 | 196,693 |
| WY | — | — | — | 2 | 14,997 | 7,940 | — | — | — | 2 | 14,997 | 7,940 |
| Total | 101 | 2,271,541 | 1,557,930 | 232 | 4,535,435 | 2,980,448 | 37 | 390,401 | 259,246 | 370 | 7,197,377 | 4,797,624 |
| Held for Sale | 1 | 13,405 | 9,377 | — | — | — | — | — | — | 1 | 13,405 | 9,377 |
| Grand Total | 102 | $2,284,946 | $1,567,307 | 232 | $4,535,435 | $2,980,448 | 37 | $390,401 | $259,246 | 371 | $7,210,782 | $4,807,001 |
(1) Represents gross book value of real estate assets at cost plus certain acquisition costs, before depreciation and purchase price allocations and less impairment write downs, if any.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.