American Healthcare REIT, Inc.

For the period ended Dec 31, 2025. Filed Feb 27, 2026.

About 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.

FY2025 · Filed Feb 27, 2026

AHR$59.39+0.7%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Real Estate and Accumulated Depreciation (Schedule III)

Initial Cost to Company · Gross Amount of Which Carried at Close of Period(e)
Description(a) · Encumbrances · Land andImprovements · Buildings andImprovements · Cost CapitalizedSubsequent toAcquisition(b) · Land and Improvements · Buildings andImprovements · Total(d) · AccumulatedDepreciation(f)(g) · Date ofConstruction · Date Acquired
Integrated Senior Health Campuses (ISHC)
Homewood Health Campus	Lebanon, IN	$7,889	$973	$9,702	$3,508	$1,161	$13,022	$14,183	$(3,244)	2000	12/01/15
Ashford Place Health Campus	Shelbyville, IN	5,306	664	12,662	1,526	876	13,976	14,852	(3,932)	2004	12/01/15
Mill Pond Health Campus	Greencastle, IN	6,279	1,576	8,124	1,054	1,660	9,094	10,754	(2,435)	2005	12/01/15
St. Andrews Health Campus	Batesville, IN	3,961	552	8,213	998	799	8,964	9,763	(2,563)	2005	12/01/15
Hampton Oaks Health Campus	Scottsburg, IN	5,577	720	8,145	1,033	866	9,032	9,898	(2,583)	2006	12/01/15
Forest Park Health Campus	Richmond, IN	6,090	535	9,399	1,345	652	10,627	11,279	(2,993)	2007	12/01/15
The Maples at Waterford Crossing	Goshen, IN	5,225	344	8,027	2,614	539	10,446	10,985	(2,400)	2006	12/01/15
Morrison Woods Health Campus	Muncie, IN	26,428	1,903	21,806	2,136	2,084	23,761	25,845	(5,557)	2008/2022	12/01/15, 09/14/16and 03/03/21
Woodbridge Health Campus	Logansport, IN	7,468	228	11,812	1,234	565	12,709	13,274	(3,480)	2003	12/01/15
Bridgepointe Health Campus	Vincennes, IN	6,400	747	7,469	2,148	917	9,447	10,364	(2,494)	2002/2022	12/01/15
Greenleaf Living Center	Elkhart, IN	10,260	492	12,157	1,356	521	13,484	14,005	(3,715)	2000	12/01/15
The Meadows of Kalida Health Campus	Kalida, OH	7,077	298	7,628	1,271	460	8,737	9,197	(2,391)	2007	12/01/15
The Heritage	Findlay, OH	11,497	1,312	13,475	3,098	1,690	16,195	17,885	(4,103)	1975	12/01/15
Genoa Retirement Village	Genoa, OH	7,525	881	8,113	1,870	1,101	9,763	10,864	(2,718)	1985	12/01/15
Waterford Crossing	Goshen, IN	7,018	344	4,381	1,354	372	5,707	6,079	(1,536)	2004	12/01/15
St. Elizabeth Healthcare	Delphi, IN	7,739	522	5,463	5,891	665	11,211	11,876	(3,017)	1986	12/01/15
Cumberland Pointe	West Lafayette, IN	8,189	1,645	13,696	993	1,905	14,429	16,334	(4,340)	1980	12/01/15
Franciscan Healthcare Center	Louisville, KY	9,188	808	8,439	4,783	1,019	13,011	14,030	(3,660)	1975	12/01/15
Blair Ridge Health Campus	Peru, IN	6,908	734	11,648	2,469	802	14,049	14,851	(4,091)	2001	12/01/15
Glen Oaks Health Campus	New Castle, IN	4,549	384	8,189	1,122	503	9,192	9,695	(2,337)	2011	12/01/15
Covered Bridge Health Campus	Seymour, IN	—	386	9,699	1,273	80	11,278	11,358	(3,175)	2002	12/01/15
Stonebridge Health Campus	Bedford, IN	8,979	1,087	7,965	2,635	1,178	10,509	11,687	(2,603)	2004	12/01/15
RiverOaks Health Campus	Princeton, IN	13,368	440	8,953	3,035	786	11,642	12,428	(3,006)	2004	12/01/15
Park Terrace Health Campus	Louisville, KY	—	2,177	7,626	3,323	2,177	10,949	13,126	(2,958)	1977	12/01/15
Cobblestone Crossing	Terre Haute, IN	—	1,462	13,860	6,145	1,649	19,818	21,467	(5,296)	2008	12/01/15
Creasy Springs Health Campus	Lafayette, IN	14,820	2,111	14,337	6,453	2,513	20,388	22,901	(5,348)	2010	12/01/15
Avalon Springs Health Campus	Valparaiso, IN	16,121	1,542	14,107	1,493	1,607	15,535	17,142	(3,990)	2012	12/01/15
Prairie Lakes Health Campus	Noblesville, IN	8,126	2,204	13,227	2,156	2,404	15,183	17,587	(3,937)	2010	12/01/15
RidgeWood Health Campus	Lawrenceburg, IN	12,713	1,240	16,118	650	1,278	16,730	18,008	(4,323)	2009	12/01/15
Westport Place Health Campus	Louisville, KY	15,130	1,245	9,946	1,478	1,283	11,386	12,669	(2,999)	2011	12/01/15
Amber Manor Care Center	Petersburg, IN	5,143	446	6,063	963	515	6,957	7,472	(1,934)	1990	12/01/15
The Meadows of Leipsic Health Campus	Leipsic, OH	—	1,242	6,988	1,184	1,491	7,923	9,414	(2,323)	1986	12/01/15
Springview Manor	Lima, OH	—	260	3,968	872	408	4,692	5,100	(1,316)	1978	12/01/15

Initial Cost to Company · Gross Amount of Which Carried at Close of Period(e)
Description(a) · Encumbrances · Land andImprovements · Buildings andImprovements · Cost CapitalizedSubsequent toAcquisition(b) · Land and Improvements · Buildings andImprovements · Total(d) · AccumulatedDepreciation(f)(g) · Date ofConstruction · Date Acquired
Willows at Bellevue	Bellevue, OH	$15,094	$587	$15,575	$1,635	$792	$17,005	$17,797	$(4,833)	2008	12/01/15
Briar Hill Health Campus	North Baltimore, OH	—	673	2,688	710	757	3,314	4,071	(1,008)	1977	12/01/15
Cypress Pointe Health Campus	Englewood, OH	—	921	10,291	12,234	1,855	21,591	23,446	(4,731)	2010	12/01/15
The Oaks at NorthPointe Woods	Battle Creek, MI	—	567	12,716	1,940	670	14,553	15,223	(3,654)	2008	12/01/15
Westlake Health Campus	Commerce, MI	13,172	815	13,502	319	601	14,035	14,636	(3,795)	2011	12/01/15
Springhurst Health Campus	Greenfield, IN	18,335	931	14,114	8,837	2,330	21,552	23,882	(5,619)	2007	12/01/15 and 05/16/17
Glen Ridge Health Campus	Louisville, KY	—	1,208	9,771	2,723	1,442	12,260	13,702	(3,663)	2006	12/01/15
St. Mary Healthcare	Lafayette, IN	4,821	348	2,710	772	393	3,437	3,830	(959)	1969	12/01/15
The Oaks at Woodfield	Grand Blanc, MI	14,626	897	12,270	774	1,138	12,803	13,941	(3,584)	2012	12/01/15
Stonegate Health Campus	Lapeer, MI	10,788	538	13,159	576	809	13,464	14,273	(3,732)	2012	12/01/15
Senior Living at Forest Ridge	New Castle, IN	—	204	5,470	816	325	6,165	6,490	(1,636)	2005	12/01/15
River Terrace Health Campus	Madison, IN	—	—	13,378	5,248	76	18,550	18,626	(5,039)	2016	03/28/16
St. Charles Health Campus	Jasper, IN	10,545	467	14,532	2,764	603	17,160	17,763	(4,866)	2000	06/24/16 and 06/30/16
Bethany Pointe Health Campus	Anderson, IN	18,081	2,337	26,524	3,939	2,559	30,241	32,800	(8,427)	1999	06/30/16
River Pointe Health Campus	Evansville, IN	12,981	1,118	14,736	2,640	1,373	17,121	18,494	(4,972)	1999	06/30/16
Waterford Place Health Campus	Kokomo, IN	13,742	1,219	18,557	10,800	2,030	28,546	30,576	(6,498)	2000/2022	06/30/16
Autumn Woods Health Campus	New Albany, IN	18,333	1,016	13,414	2,217	1,177	15,470	16,647	(4,734)	2000	06/30/16
Oakwood Health Campus	Tell City, IN	8,436	783	11,880	2,704	907	14,460	15,367	(4,229)	2000	06/30/16
Cedar Ridge Health Campus	Cynthiana, KY	—	102	8,435	3,879	205	12,211	12,416	(4,219)	2005	06/30/16
Aspen Place Health Campus	Greensburg, IN	8,813	980	10,970	1,163	1,218	11,895	13,113	(3,465)	2012	08/16/16
The Willows at East Lansing	East Lansing, MI	15,229	1,449	15,161	1,831	1,524	16,917	18,441	(5,078)	2014	08/16/16
The Willows at Howell	Howell, MI	—	1,051	12,099	6,999	1,167	18,982	20,149	(4,536)	2015	08/16/16
The Willows at Okemos	Okemos, MI	6,980	1,171	12,326	1,104	1,229	13,372	14,601	(4,003)	2014	08/16/16
Shelby Crossing Health Campus	Macomb, MI	16,005	2,533	18,440	2,447	2,624	20,796	23,420	(6,622)	2013	08/16/16
The Oaks at Bethesda	Zanesville, OH	4,237	714	10,791	987	812	11,680	12,492	(3,402)	2013	08/16/16
White Oak Health Campus	Monticello, IN	19,744	1,005	13,207	806	1,006	14,012	15,018	(3,149)	2010	09/23/16 and 07/30/20
Woodmont Health Campus	Boonville, IN	7,276	790	9,633	1,362	1,024	10,761	11,785	(3,265)	2000	02/01/17
Silver Oaks Health Campus	Columbus, IN	—	1,776	21,420	1,733	88	24,841	24,929	(6,999)	2001	02/01/17
Thornton Terrace Health Campus	Hanover, IN	5,157	764	9,209	2,231	873	11,331	12,204	(3,183)	2003	02/01/17

Initial Cost to Company · Gross Amount of Which Carried at Close of Period(e)
Description(a) · Encumbrances · Land andImprovements · Buildings andImprovements · Cost CapitalizedSubsequent toAcquisition(b) · Land and Improvements · Buildings andImprovements · Total(d) · AccumulatedDepreciation(f)(g) · Date ofConstruction · Date Acquired
The Willows at Hamburg	Lexington, KY	$10,737	$1,740	$13,422	$1,908	$1,810	$15,260	$17,070	$(3,995)	2012	02/01/17
The Willows at Willard	Willard, OH	—	610	12,256	10,011	223	22,654	22,877	(5,774)	2012	02/01/17
Westlake Health Campus — Commerce Villa	Commerce, MI	—	261	6,610	1,270	553	7,588	8,141	(1,920)	2017	11/17/17
Orchard Grove Health Campus	Romeo, MI	14,500	2,065	11,510	18,295	3,573	28,297	31,870	(5,675)	2016	07/20/18 and 11/30/17
The Lakes at Monclova	Monclova, OH	11,726	2,869	12,855	10,550	3,182	23,092	26,274	(5,332)	2013	12/01/17
The Meadows of Ottawa	Ottawa, OH	—	695	7,752	9,659	736	17,370	18,106	(2,291)	2014	12/15/17
Valley View Healthcare Center	Fremont, OH	9,788	930	7,635	1,796	1,118	9,243	10,361	(1,879)	2017	07/20/18
Novi Lakes Health Campus	Novi, MI	11,655	1,654	7,494	2,851	1,702	10,297	11,999	(3,222)	2016	07/20/18
The Willows at Fritz Farm	Lexington, KY	8,538	1,538	8,637	495	1,563	9,107	10,670	(1,813)	2017	07/20/18
Paddock Springs	Warsaw, IN	—	488	—	11,900	671	11,717	12,388	(2,044)	2019	02/14/19
Harrison Springs Health Campus	Corydon, IN	—	2,017	11,487	6,005	2,305	17,204	19,509	(2,854)	2016/2022	09/05/19
The Cloister at Silvercrest	New Albany, IN	—	139	634	6	139	640	779	(103)	1940	10/01/19
Scenic Hills at the Monastery	Ferdinand, IN	—	—	—	14,814	26	14,788	14,814	(2,309)	2019	11/19/19
Oaks at Byron Center	Byron Center, MI	—	2,000	—	15,955	2,193	15,762	17,955	(2,398)	2020	07/08/20
Forest Springs Health Campus	Louisville, KY	—	964	16,691	475	1,022	17,108	18,130	(2,668)	2015	07/30/20
Taylor Springs Health Campus	Gahanna, OH	—	1,146	—	16,782	1,218	16,710	17,928	(2,225)	2020	11/13/20
Gateway Springs Health Campus	Hamilton, OH	—	1,277	10,923	1,931	1,453	12,678	14,131	(1,745)	2020	12/28/20
Orchard Pointe Health Campus	Kendallville, IN	9,976	1,806	9,243	750	2,417	9,382	11,799	(1,708)	2016	01/19/21
The Meadows of Delphos	Delphos, OH	—	2,345	8,150	124	2,382	8,237	10,619	(1,947)	2018	01/19/21
The Springs of Lima	Lima, OH	—	2,397	9,638	66	2,403	9,698	12,101	(2,055)	2018	01/19/21
Wooded Glen	Springfield, OH	—	2,803	11,928	119	2,827	12,023	14,850	(2,432)	2018	01/19/21
The Lakes of Sylvania	Sylvania, OH	—	3,208	15,059	8,763	4,404	22,626	27,030	(3,177)	2017	01/19/21
The Glen	Union Township, OH	—	2,789	12,343	92	2,809	12,415	15,224	(2,419)	2018	01/19/21
The Oaks of Belmont	Grand Rapids, MI	—	767	17,043	250	1,101	16,959	18,060	(2,330)	2021	03/13/21
Harrison Trial Health Campus	Harrison, OH	—	1,750	17,114	157	2,048	16,973	19,021	(2,230)	2021	04/28/21
Cedar Creek Health Campus	Lowell, IN	—	2,326	12,650	1,090	2,864	13,202	16,066	(1,567)	2014	07/07/21
The Willows at Springhurst	Louisville, KY	20,312	1,876	12,595	727	1,953	13,245	15,198	(1,597)	1979	01/01/22
	Louisville, KY	—	1,184	6,483	436	1,184	6,919	8,103	(840)	1979	01/01/22
The Willows at Harrodsburg	Harrodsburg, KY	—	918	10,181	10,197	1,604	19,692	21,296	(1,294)	2018	05/20/22
North River Health Campus	Evansville, IN	—	2,614	15,031	175	2,651	15,169	17,820	(1,992)	2017	05/20/22
The Springs at Stony Brook	Louisville, KY	—	2,265	14,077	457	2,273	14,526	16,799	(1,673)	2018	05/20/22

Initial Cost to Company · Gross Amount of Which Carried at Close of Period(e)
Description(a) · Encumbrances · Land andImprovements · Buildings andImprovements · Cost CapitalizedSubsequent toAcquisition(b) · Land and Improvements · Buildings andImprovements · Total(d) · AccumulatedDepreciation(f)(g) · Date ofConstruction · Date Acquired
Pickerington Health Campus	Pickerington, OH	$—	$860	$15,575	$34	$880	$15,589	$16,469	$(2,545)	2019	05/20/22
Mt. Washington Development Project	Mt. Washington, KY	—	2,054	10,225	79	2,079	10,279	12,358	(1,316)	2020	05/20/22
Silvercrest Health Center	New Albany, IN	19,838	1,920	24,965	1,065	1,938	26,012	27,950	(2,528)	2013	08/01/22
The Springs of Mooresville	Mooresville, IN	13,568	1,460	12,617	2,549	1,476	15,150	16,626	(1,248)	2016	08/01/22
Hearthstone Health Campus	Bloomington, IN	18,616	2,140	16,928	898	2,197	17,769	19,966	(1,903)	2014	08/01/22
The Legacy at English Station	Louisville, KY	—	912	10,139	76	914	10,213	11,127	(814)	2016	02/15/23
The Villages at Oak Ridge	Washington, IN	—	1,483	11,551	3,456	1,567	14,923	16,490	(1,064)	2015	07/13/23
Smith's Mill Health Campus	New Albany, OH	—	1,323	15,271	116	1,341	15,369	16,710	(1,284)	2019	07/13/23
Oakwood Health Center Villas	Tell City, IN	—	535	1,555	638	835	1,893	2,728	(205)	2013	07/13/23
The Willows at Tiffin	Tiffin, OH	—	318	12,848	433	354	13,245	13,599	(645)	2019	04/17/24
The Springs at Oldham Reserve	La Grange, KY	—	987	17,817	1,577	1,657	18,724	20,381	(832)	2023	04/22/24
Vienna Springs Health Campus	Miami Township, OH	—	1,016	16,934	51	1,045	16,956	18,001	(822)	2021	04/17/24
Trilogy Real Estate Bowling Green	Bowling Green, OH	18,395	925	15,870	2,465	925	18,335	19,260	(893)	2024	02/01/24
West River Health Campus	Evansville, IN	—	2,201	13,578	329	2,252	13,856	16,108	(332)	1999	02/26/25
Oaks at Jamestown	Hudsonville, MI	—	1,405	25,043	38	1,415	25,071	26,486	(364)	2024	07/01/25
Harbor Terrace Senior Living	Muskegon, MI	—	1,721	25,803	29	1,748	25,805	27,553	(364)	2024	07/01/25
Norwich Springs Health Campus	Hilliard, OH	—	2,138	23,526	34	2,140	23,558	25,698	(320)	2021	07/01/25
The Springs at Wyandot Trail	Lancaster, OH	—	2,963	23,991	14	2,963	24,005	26,968	(352)	2024	07/01/25
Liberty Station Health Campus	Liberty Township, OH	—	1,018	23,816	22	1,018	23,838	24,856	(330)	2023	07/01/25
Cooper Trail Senior Living	Bardstown, KY	—	594	12,064	9	594	12,073	12,667	(175)	2020	07/16/25
Walker's Trail Senior Living	Danville, KY	—	1,365	12,609	36	1,365	12,645	14,010	(172)	2021	07/16/25
Shelby Farms Senior Living	Shelbyville, KY	—	1,039	13,549	18	1,039	13,567	14,606	(192)	2022	07/16/25
Boonesboro Trail Senior Living	Winchester, KY	—	1,112	12,269	16	1,115	12,282	13,397	(176)	2021	07/16/25
Triple Creek Retirement Community	Colerain Township, OH	—	2,510	19,740	144	2,529	19,865	22,394	(166)	2008	07/15/25 and 11/03/25
Kingston Residence of Hickory	Hickory, NC	—	453	11,622	231	453	11,853	12,306	—	1987	12/16/25
Kingston Residence of Santa Fe	Santa Fe, NM	—	1,419	10,994	307	1,419	11,301	12,720	—	1990	12/16/25
Kingston Care Center of Fort Wayne	Fort Wayne, IN	—	1,104	20,130	360	1,104	20,490	21,594	—	1989	12/16/25

Initial Cost to Company · Gross Amount of Which Carried at Close of Period(e)
Description(a) · Encumbrances · Land andImprovements · Buildings andImprovements · Cost CapitalizedSubsequent toAcquisition(b) · Land and Improvements · Buildings andImprovements · Total(d) · AccumulatedDepreciation(f)(g) · Date ofConstruction · Date Acquired
Kingston Residence of Fort Wayne	Fort Wayne, IN	$—	$1,790	$2,664	$427	$1,790	$3,091	$4,881	$—	1983	12/16/25
Kingston at Dupont	Fort Wayne, IN	—	545	3,075	141	545	3,216	3,761	—	1999	12/16/25
Kingston of Ashland	Ashland, OH	—	334	5,438	285	334	5,723	6,057	—	1985	12/16/25
Kingston Residence of Marion	Marion, OH	—	626	11,910	397	626	12,307	12,933	—	1986	12/16/25
Kingston of Miamisburg	Miamisburg, OH	—	1,110	4,518	305	1,110	4,823	5,933	—	1976	12/16/25
Kingston Rehabilitation of Perrysburg	Perrysburg, OH	—	366	14,155	198	366	14,353	14,719	—	2013	12/16/25
Kingston Residence of Perrysburg	Perrysburg, OH	—	459	10,804	130	459	10,934	11,393	—	1996	12/16/25
Kingston Care Center of Sylvania	Sylvania, OH	—	840	17,082	416	840	17,498	18,338	—	2004	12/16/25
Kingston Residence of Sylvania	Sylvania, OH	—	887	15,302	288	887	15,590	16,477	—	2001	12/16/25
Kingston of Vermilion	Vermilion, OH	—	1,123	7,648	419	1,122	8,068	9,190	—	1984	12/16/25
Kingston Residence of Vermilion	Vermilion, OH	—	974	5,794	226	974	6,020	6,994	—	1998	12/16/25
Leased properties(c)		—	1,130	84,944	189,097	2,064	273,107	275,171	(151,260)
ISHC Total		$665,017	$155,068	$1,612,187	$515,112	$174,019	$2,108,348	$2,282,367	$(476,507)
Senior Housing Operating Properties (SHOP)
Delta Valley ALF Portfolio	Springdale, AR	$—	$891	$6,538	$(415)	$891	$6,123	$7,014	$(1,883)	1998/2005	01/08/15
	Batesville, MS	—	331	5,103	(165)	331	4,938	5,269	(1,584)	1999/2005	09/11/14
	Cleveland, MS	—	348	6,369	(842)	348	5,527	5,875	(1,760)	2004	09/11/14
North Carolina ALF Portfolio	Clemmons, NC	—	596	13,237	(54)	596	13,183	13,779	(4,199)	2014	06/29/15
	Garner, NC	—	1,723	11,517	489	1,723	12,006	13,729	(2,902)	2014	03/27/19
	Huntersville, NC	—	2,033	11,494	440	2,033	11,934	13,967	(3,420)	2015	01/18/17
	Matthews, NC	—	949	12,537	304	949	12,841	13,790	(3,182)	2017	08/30/18
	Mooresville, NC	—	835	15,894	54	835	15,948	16,783	(4,966)	2012	01/28/15
	Raleigh, NC	—	1,069	21,235	(174)	1,069	21,061	22,130	(6,286)	2013	01/28/15
	Wake Forest, NC	—	772	13,596	(101)	772	13,495	14,267	(4,030)	2014	06/29/15
Mountain Crest Senior Housing Portfolio	Elkhart, IN	—	793	6,009	1,046	793	7,055	7,848	(2,406)	1997	05/14/15
	Elkhart, IN	—	782	6,760	1,153	782	7,913	8,695	(2,830)	2000	05/14/15
	Hobart, IN	—	604	11,529	(56)	—	12,077	12,077	(3,924)	2008	05/14/15
	LaPorte, IN	—	392	14,894	(5,478)	—	9,808	9,808	(5,006)	2008	05/14/15

Initial Cost to Company · Gross Amount of Which Carried at Close of Period(e)
Description(a) · Encumbrances · Land andImprovements · Buildings andImprovements · Cost CapitalizedSubsequent toAcquisition(b) · Land and Improvements · Buildings andImprovements · Total(d) · AccumulatedDepreciation(f)(g) · Date ofConstruction · Date Acquired
	Mishawaka, IN	$—	$3,670	$14,416	$4,050	$3,670	$18,466	$22,136	$(5,551)	1978	07/14/15
	Niles, MI	—	404	5,050	1,094	404	6,144	6,548	(2,215)	2000	06/11/15 and 11/20/15
Nebraska Senior Housing Portfolio	Bennington, NE	—	981	20,427	2,453	981	22,880	23,861	(6,835)	2009	05/29/15
	Omaha, NE	—	1,274	38,619	2,885	1,274	41,504	42,778	(11,962)	2000	05/29/15
Pennsylvania Senior Housing Portfolio	Bethlehem, PA	—	1,542	22,249	2,074	1,542	24,323	25,865	(7,751)	2005	06/30/15
	Boyertown, PA	22,932	480	25,544	1,653	480	27,197	27,677	(7,998)	2000	06/30/15
	York, PA	12,432	972	29,860	2,196	972	32,056	33,028	(9,175)	1986	06/30/15
Richmond VA ALF	North Chesterfield, VA	—	2,146	56,671	2,079	2,146	58,750	60,896	(16,321)	2009	09/11/15
Pennsylvania Senior Housing Portfolio II	Palmyra, PA	19,114	835	24,424	1,627	835	26,051	26,886	(7,944)	2007	02/01/16
Lafayette Assisted Living Portfolio	Lafayette, LA	—	1,206	9,076	882	1,206	9,958	11,164	(1,188)	1996	10/01/21
	Lafayette, LA	—	1,039	4,684	310	1,039	4,994	6,033	(641)	2014	10/01/21
Northern California Senior Housing Portfolio	Belmont, CA	—	10,491	9,650	(3,394)	10,491	6,256	16,747	(1,376)	1958/2000	10/01/21
Central Wisconsin Senior Care Portfolio	Sun Prairie, WI	—	543	2,587	994	543	3,581	4,124	(549)	1960/2006	10/01/21
	Waunakee, WI	—	2,171	10,198	1,452	2,171	11,650	13,821	(1,685)	1974/2005	10/01/21
Pinnacle Beaumont ALF	Beaumont, TX	—	1,775	17,541	(13,744)	—	5,572	5,572	(1,677)	2012	10/01/21
Pinnacle Warrenton ALF	Warrenton, MO	—	514	7,059	(2,157)	—	5,416	5,416	(921)	1986	10/01/21
Michigan ALF Portfolio	Grand Rapids, MI	—	1,196	8,955	396	1,196	9,351	10,547	(1,215)	1953/2016	10/01/21
	Grand Rapids, MI	9,180	1,291	11,308	509	1,291	11,817	13,108	(1,498)	1989	10/01/21
	Holland, MI	—	716	6,534	77	716	6,611	7,327	(990)	2007/2017	10/01/21
	Howell, MI	—	836	4,202	(4,202)	836	—	836	—	2003	10/01/21
	Wyoming, MI	—	1,343	13,347	749	1,343	14,096	15,439	(1,743)	1964/2016	10/01/21
Catalina West Haven ALF	West Haven, UT	—	1,936	10,415	563	1,936	10,978	12,914	(1,391)	2012	10/01/21
Louisiana Senior Housing Portfolio	Gonzales, LA	—	1,123	5,668	377	1,123	6,045	7,168	(813)	1996	10/01/21
	Monroe, LA	—	834	4,037	602	834	4,639	5,473	(610)	1994	10/01/21
	New Iberia, LA	—	952	5,257	206	952	5,463	6,415	(698)	1996	10/01/21
	Shreveport, LA	—	1,177	6,810	347	1,177	7,157	8,334	(873)	1996	10/01/21
	Slidell, LA	—	801	4,348	489	801	4,837	5,638	(654)	1996	10/01/21

Initial Cost to Company · Gross Amount of Which Carried at Close of Period(e)
Description(a) · Encumbrances · Land andImprovements · Buildings andImprovements · Cost CapitalizedSubsequent toAcquisition(b) · Land and Improvements · Buildings andImprovements · Total(d) · AccumulatedDepreciation(f)(g) · Date ofConstruction · Date Acquired
Catalina Madera ALF	Madera, CA	$—		$1,312		$15,299		$1,065			$1,312			$16,364			$17,676			$(2,018)		2005		10/01/21
AHR Texas ALF Portfolio	Cedar Park, TX	—		1,347		5,250	323			1,347			5,573			6,920			(622)		1998		12/05/22
	Corpus Christi, TX	—		1,229		12,663	596			1,229			13,259			14,488			(1,395)		1997		12/05/22
	League City, TX	—		1,435		15,475		949			1,435			16,424			17,859			(1,537)		1999		12/05/22
	Round Rock, TX	—		2,124		14,895		647			2,124			15,542			17,666			(1,462)		1997		12/05/22
	Sugarland, TX	—		2,674		12,751		597			2,674			13,348			16,022			(1,363)		1999		12/05/22
	Temple, TX	—		1,819		11,090		674			1,819			11,764			13,583			(1,248)		1998		12/05/22
	Tyler, TX	—		1,131		10,510		486			1,131			10,996			12,127			(1,173)		1998		12/05/22
Timberwood OR	Albany, OR	9,538		478		4,185		229			478			4,414			4,892			(259)		2002		02/01/24
Settler's Park OR	Baker City, OR	4,308		957		3,717		871			957			4,588			5,545			(311)		1999		02/01/24
Lone Oak OR	Eugene, OR	11,593		1,614		6,857		460			1,614			7,317			8,931			(531)		2000		02/01/24
The Suites OR	Grants Pass, OR	6,897		888		5,319		542			888			5,861			6,749			(380)		1996		02/01/24
Hawks Ridge OR	Hood River, OR	8,585		1,804		5,531		512			1,804			6,043			7,847			(426)		2001		02/01/24
Junction City OR	Junction City, OR	4,156		598		2,740		727			598			3,467			4,065			(220)		1981		02/01/24
Wildflower Lodge OR	La Grande, OR	6,670		757		5,042		505			757			5,547			6,304			(438)		2000		02/01/24
Vineyard Heights AL	Mcminnville, OR	6,672		1,844		6,642		226			1,844			6,868			8,712			(478)		2001		02/01/24
Vineyard Heights IL	Mcminnville, OR	3,155		710		2,717		6			710			2,723			3,433			(180)		2001		02/01/24
Morrow Heights OR	Rogue River, OR	4,011		709		2,650		315			709			2,965			3,674			(218)		2000		02/01/24
Callahan Court MC	Roseburg, OR	12,787		508		6,934		52			508			6,986			7,494			(430)		1999		02/01/24
Callahan Village AL	Roseburg, OR	10,272		448		6,385		178			448			6,563			7,011			(397)		1999		02/01/24
Neawanna OR	Seaside, OR	555		2,292		2,810		190			2,292			3,000			5,292			(267)		1990		02/01/24
Silver Creek OR	Woodburn, OR	3,690		603		2,820		186			603			3,006			3,609			(171)		1995		02/01/24
Mallard Landing WA	Battle Ground, WA	8,737		1,177		4,331		(303)		1,177			4,028			5,205			(208)		2002		09/03/24
Orchard Pointe WA	Port Orchard, WA	5,998	732		4,729		(255)		732			4,474			5,206			(193)	1999		09/03/24
Blossom Valley AL WA	Wenatchee, WA	7,499		841		5,442		(364)		841			5,078			5,919			(224)		2005		09/03/24
Blossom Creek MC WA	Wenatchee, WA	6,811		1,137		7,442		(286)		1,137			7,156			8,293			(304)		2002		09/03/24

Initial Cost to Company · Gross Amount of Which Carried at Close of Period(e)
Description(a) · Encumbrances · Land andImprovements · Buildings andImprovements · Cost CapitalizedSubsequent toAcquisition(b) · Land and Improvements · Buildings andImprovements · Total(d) · AccumulatedDepreciation(f)(g) · Date ofConstruction · Date Acquired
Eagle Springs	College Place, WA	$6,948	$910	$6,236	$(158)	$910	$6,078	$6,988	$(225)	1999	09/03/24
Regal Pointe	Marietta, GA	—	1,956	4,545	367	1,956	4,912	6,868	(199)	1997	10/01/24
Chancellor's Village	Fredericksburg, VA	—	4,052	55,932	553	4,052	56,485	60,537	(1,198)	1991	04/14/25
Seven Hills	Saint Paul, MN	—	1,527	23,387	43	1,527	23,430	24,957	(302)	2019	07/01/25
Honeysuckle	Hayden, ID	—	850	3,983	18	850	4,001	4,851	(57)	1996	08/01/25
Pillars of Grand Rapids	Grand Rapids, MN	—	1,005	28,327	90	1,005	28,417	29,422	(366)	2022	08/15/25
Springville	Draper, UT	—	4,868	22,339	47	4,868	22,386	27,254	(153)	2018	10/01/25
	Springville, UT	—	2,398	17,368	51	2,398	17,419	19,817	(122)	2016	10/01/25
WellQuest of Murrieta	Murrieta, CA	—	6,213	22,184	158	6,213	22,342	28,555	(162)	2016	10/08/25
Talamore Sun Prairie	Sun Prairie, WI	—	2,127	48,501	—	2,127	48,501	50,628	(216)	2021	10/24/25
Hayden Grove	Bloomington, MN	—	3,917	49,637	2	3,917	49,639	53,556	(229)	2021	10/30/25
The Grove	Fresno, CA	—	1,757	12,337	89	1,757	12,426	14,183	(59)	1998	10/31/25
Talamore St. Cloud	Saint Cloud, MN	—	2,857	47,771	—	2,857	47,771	50,628	(213)	2020	11/04/25
Talamore Woodbury	Woodbury, MN	—	8,032	70,429	8	8,032	70,437	78,469	(162)	2023	12/03/25
Orchards of Minnetonka	Minnetonka, MN	—	5,760	45,241	—	5,760	45,241	51,001	(110)	2019	12/08/25
Birches of Lehigh Valley	Easton, PA	—	3,968	30,731	8	3,967	30,740	34,707	(76)	2024	12/15/25
SHOP Total		$192,540	$137,731	$1,208,822	$11,172	$134,445	$1,223,280	$1,357,725	$(162,954)
Outpatient Medical (OM)
Lee’s Summit MO OM	Lee’s Summit, MO	$—	$1,045	$5,068	$1,745	$1,045	$6,813	$7,858	$(2,694)	2006	09/18/14
Carolina Commons OM	Indian Land, SC	—	1,028	9,430	4,965	1,028	14,395	15,423	(6,115)	2009	10/15/14
Mount Olympia OM Portfolio	Mount Dora, FL	—	393	5,633	(1,065)	393	4,568	4,961	(1,681)	2009	12/04/14
East Texas OM Portfolio	Longview, TX	—	—	19,942	13,671	—	33,613	33,613	(8,264)	2008	12/12/14
	Longview, TX	—	759	1,696	140	759	1,836	2,595	(1,038)	1998	12/12/14
	Longview, TX	—	—	8,027	270	—	8,297	8,297	(2,945)	2004	12/12/14
	Longview, TX	—	—	696	146	—	842	842	(394)	1956	12/12/14
	Longview, TX	—	—	27,601	6,751	—	34,352	34,352	(12,483)	1985/1993/ 2004	12/12/14

Initial Cost to Company · Gross Amount of Which Carried at Close of Period(e)
Description(a) · Encumbrances · Land andImprovements · Buildings andImprovements · Cost CapitalizedSubsequent toAcquisition(b) · Land and Improvements · Buildings andImprovements · Total(d) · AccumulatedDepreciation(f)(g) · Date ofConstruction · Date Acquired
	Marshall, TX		$—			$368			$1,711				$110			$368			$1,821			$2,189			$(963)			1970		12/12/14
Premier OM	Novi, MI		—			644			10,420				2,174			644			12,594			13,238			(4,444)			2006		12/19/14
Independence OM Portfolio	Southgate, KY		—			411			11,005				2,388			411			13,393			13,804			(4,833)			1988		01/13/15
	Somerville, MA		29,649			1,509			46,775				6,538			1,509			53,313			54,822			(15,996)			1985		01/13/15
	Verona, NJ		—			1,683			9,405				2,932			1,683			12,337			14,020			(4,004)			1970		01/13/15
	Bronx, NY		—			—			19,593				3,621			—			23,214			23,214			(7,735)			1987/1988		01/26/15
Orange Star Medical Portfolio	Durango, CO		—			623			14,166				531			623			14,697			15,320			(4,483)			2004		02/26/15
	Durango, CO		—			788			10,467				1,611			788			12,078			12,866			(3,927)			2004		02/26/15
	Friendswood, TX	—		500			7,664				1,444			500			9,108			9,608			(3,000)		2008		02/26/15
	Keller, TX	—			1,604			7,912				1,428			1,604			9,340			10,944			(3,176)			2011		02/26/15
Kingwood OM Portfolio	Kingwood, TX	—		820			8,589			766			820			9,355			10,175			(3,023)		2005		03/11/15
	Kingwood, TX	—		781			3,943			64			781			4,007			4,788			(1,361)		2008		03/11/15
Mt. Juliet TN OM	Mount Juliet, TN	—			1,188			10,720				1,245			1,188			11,965			13,153			(3,579)			2012		03/17/15
Paoli PA Medical Plaza	Paoli, PA		—			2,313			12,447				9,134			2,313			21,581			23,894			(8,338)			1951		04/10/15
	Paoli, PA		—			1,668			7,357				3,484			1,668			10,841			12,509			(3,733)			1975		04/10/15
Glen Burnie MD OM	Glen Burnie, MD		—			2,692			14,095				7,066			2,692			21,161			23,853			(7,095)			1981		05/06/15
Marietta GA OM	Marietta, GA		—			1,347			10,947				1,079			1,347			12,026			13,373			(3,709)			2002		05/07/15
Napa Medical Center	Napa, CA		—			1,176			13,328				4,396			1,176			17,724			18,900			(5,713)			1980		07/02/15
Stockbridge GA OM II	Stockbridge, GA		—			499			8,353				2,055			485			10,422			10,907			(3,258)			2006		12/03/15
Lakeview IN Medical Plaza	Indianapolis, IN		—			2,375			15,911				11,702			2,375			27,613			29,988			(9,695)			1987		01/21/16
Snellville GA OM	Snellville, GA		—			332			7,781				2,772			318			10,567			10,885			(3,565)			2005		02/05/16
Stockbridge GA OM III	Stockbridge, GA		—			606			7,924				2,053			606			9,977			10,583			(3,380)			2007		03/29/16
Austell GA OM	Austell, GA		—			663			10,547				344			663			10,891			11,554			(3,154)			2008		05/25/16
Voorhees NJ OM	Voorhees, NJ		—			1,727			8,451				2,897			1,727			11,348			13,075			(3,684)			2008		07/08/16
Norwich CT OM Portfolio	Norwich, CT		—			403			1,601				1,270			403			2,871			3,274			(1,476)			2014		12/16/16
	Norwich, CT		—			804			12,094				2,292			804			14,386			15,190			(3,909)			1999		12/16/16
Middletown OH OM II	Middletown, OH		—			—			3,949				(1,584)			—			2,365			2,365			(1,019)			2007		12/20/17
Charlottesville OM	Charlottesville, VA		—			4,902			19,741				656			4,902			20,397			25,299			(3,024)			2001		10/01/21
Rochester Hills OM	Rochester Hills, MI		—			2,218			8,380				2,020			2,218			10,400			12,618			(1,464)			1990		10/01/21
Cullman OM III	Cullman, AL	—			—			19,224				(557)			—			18,667			18,667			(2,051)			2010		10/01/21

Initial Cost to Company · Gross Amount of Which Carried at Close of Period(e)
Description(a) · Encumbrances · Land andImprovements · Buildings andImprovements · Cost CapitalizedSubsequent toAcquisition(b) · Land and Improvements · Buildings andImprovements · Total(d) · AccumulatedDepreciation(f)(g) · Date ofConstruction · Date Acquired
Iron OM Portfolio	Cullman, AL		$—			$—			$14,799			$1,929				$—				$16,728				$16,728				$(3,068)		1994		10/01/21
	Cullman, AL	—		—			12,287			373			—				12,660				12,660				(2,062)		1998		10/01/21
	Sylacauga, AL	—		—			11,273			2,161			—				13,434				13,434				(1,708)		1997		10/01/21
Mint Hill OM	Mint Hill, NC	—		—			24,110			(46)		—				24,064				24,064				(3,035)		2007		10/01/21
Reno OM	Reno, NV	—		—			82,515			4,655			—				87,170				87,170				(10,420)		2005		10/01/21
Athens OM Portfolio	Athens, GA	—		860			7,989			1,481			860				9,470				10,330				(1,419)		2006		10/01/21
	Athens, GA	—			1,106			11,531			(423)			1,106				11,108				12,214				(1,400)		2006		10/01/21
Lawrenceville OM	Lawrenceville, GA		—			1,663			12,019			250				1,663				12,269				13,932				(1,690)		2005		10/01/21
Roseburg OM	Roseburg, OR		—		—			28,140			606			—				28,746				28,746				(4,103)		2003		10/01/21
Fairfield County OM	Trumbull, CT		—			2,797			10,400			1,375				2,797				11,775				14,572				(1,969)		1987		10/01/21
Sauk Prairie OM	Prairie du Sac, WI		—			2,044			19,669			1,896				2,044				21,565				23,609				(3,531)		2014		10/01/21
Surprise OM	Surprise, AZ		—			1,827			10,968			514				1,827				11,482				13,309				(1,694)		2012		10/01/21
Southfield OM	Southfield, MI		—			1,634			16,550			1,550				1,634				18,100				19,734				(2,807)		1975/2014		10/01/21
Grand Junction OM	Grand Junction, CO		—			2,460			34,188			84				2,460				34,272				36,732				(4,641)		2013		10/01/21
Edmonds OM	Edmonds, WA		—			4,523			22,414			740				4,523				23,154				27,677				(3,418)		1991/2008		10/01/21
Glendale OM	Glendale, WI		—			665			6,782			385				665				7,167				7,832				(1,252)		2004		10/01/21
Flemington OM Portfolio	Flemington, NJ		—			1,419			11,110			1,150				1,419				12,260				13,679				(1,869)		2002		10/01/21
	Flemington, NJ		—			578			3,340			319				578				3,659				4,237				(714)		1993		10/01/21
Lawrenceville OM II	Lawrenceville, GA		—			1,058			9,709			2,447				1,058				12,156				13,214				(2,084)		1990		10/01/21
Mill Creek OM	Mill Creek, WA		—			1,344			7,516			698				1,344				8,214				9,558				(1,148)		1991		10/01/21
Modesto OM	Modesto, CA		—		—			16,065			1,434			—				17,499				17,499				(2,527)		1991/2016		10/01/21
Lithonia OM	Lithonia, GA		—			1,676			10,871			1,287				1,676				12,158				13,834				(2,113)		2015		10/01/21
Great Nord OM Portfolio	Tinley Park, IL		—		—			15,423			2,003			—				17,426				17,426				(2,539)		2002		10/01/21
	Chesterton, IN		—			743			9,070			699				743				9,769				10,512				(1,528)		2007		10/01/21
	Plymouth, MN		—			1,491			12,994			1,057				1,491				14,051				15,542				(1,958)		2014		10/01/21
Overland Park OM	Overland Park, KS		—			2,803			23,639			816				2,803				24,455				27,258				(3,599)		2017		10/01/21
Bloomington OM	Bloomington, IL		—			2,114			17,363		—				2,114				17,363				19,477				(2,081)		1990		10/01/21
Haverhill OM	Haverhill, MA		—			1,393			15,477			1,322				1,393				16,799				18,192				(2,537)		1987		10/01/21
Fresno OM	Fresno, CA	—			1,536			8,964		671				1,536				9,635				11,171				(1,605)		2007		10/01/21
Colorado Foothills OM Portfolio	Arvada, CO	—		695			6,369			1,187			695				7,556				8,251				(1,225)		1979		10/01/21

Initial Cost to Company · Gross Amount of Which Carried at Close of Period(e)
Description(a) · Encumbrances · Land andImprovements · Buildings andImprovements · Cost CapitalizedSubsequent toAcquisition(b) · Land and Improvements · Buildings andImprovements · Total(d) · AccumulatedDepreciation(f)(g) · Date ofConstruction · Date Acquired
	Centennial, CO			$—			$873			$11,233			$871				$873				$12,104				$12,977				$(1,785)		1979		10/01/21
	Colorado Springs, CO		—			2,225			12,520			3,051				2,225				15,571				17,796				(2,092)		1999		10/01/21
OM Total				$29,649			$77,396			$939,890			$139,096				$77,368				$1,079,014				$1,156,382				$(244,026)
Triple-Net Leased Properties
Southlake TX Hospital	Southlake, TX			$85,930			$5,089			$108,517			$—				$5,089				$108,517				$113,606				$(32,244)		2013		12/04/14
Crown Senior Care Portfolio	Peel, Isle of Man		—			1,231			7,347			87				1,231				7,434				8,665				(2,284)		2015		09/15/15
	St. Albans, UK		—			1,241			13,047			720				1,241				13,767				15,008				(4,283)		2015		10/08/15
	Salisbury, UK		—		1319			12,668			59				1,319				12,727				14,046				(3,912)		2015		12/08/16
	Felixstowe, UK		—		744			6,130			543			744				6,673				7,417				(1,829)		2010/2011		11/15/16
	Felixstowe, UK		—			561			2,687			362			561				3,049				3,610				(943)		2010/2011		11/15/15
	Aberdeen, UK		—			2,140			6,381			1,051				2,140				7,432				9,572				(1,819)		1986		10/08/15
Washington DC SNF	Washington, DC		—			1,194			34,200		—				1,194				34,200				35,394				(11,117)		1983		10/29/15
Fox Grape SNF Portfolio	Braintree, MA		—			1,844			10,847			31				1,844				10,878				12,722				(2,910)		2015		07/01/16
	Duxbury, MA		—			2,921			11,244			1,933				2,921				13,177				16,098				(4,021)		1983		07/01/16
	Hingham, MA		—			2,316			17,390			(166)			2,316				17,224				19,540				(4,649)		1990		07/01/16
	Quincy, MA			12,429			3,537			13,697			600				3,537				14,297				17,834				(3,752)		1995		11/01/16
SW Illinois Senior Housing Portfolio	Columbia, IL		—			1,117			9,700			66				1,117				9,766				10,883				(1,208)		2007		10/01/21
	Columbia, IL		—			147			2,106		—				147				2,106				2,253				(254)		1999		10/01/21
	Millstadt, IL		—			259			3,980		—				259				3,980				4,239				(484)		2004		10/01/21
	Red Bud, IL		—			690			5,175		—				690				5,175				5,865				(627)		2006		10/01/21
	Waterloo, IL		—			934			8,932		—				934				8,932				9,866				(1,087)		2012		10/01/21
West Des Moines SNF	West Des Moines, IA		—			509			3,813		—				509				3,813				4,322				(491)		2004		10/01/21
Triple-Net Leased Properties Total		$98,359			$27,793			$277,861			$5,286				$27,793				$283,147				$310,940				$(77,914)

Initial Cost to Company · Gross Amount of Which Carried at Close of Period(e)
Description(a)	Encumbrances	Land andImprovements	Buildings andImprovements	Cost CapitalizedSubsequent toAcquisition(b)	Land and Improvements	Buildings andImprovements	Total(d)	AccumulatedDepreciation(f)(g)
Summary
ISHC	$665,017	$155,068	$1,612,187	$515,112	$174,019	$2,108,348	$2,282,367	$(476,507)
SHOP	192,540	137,731	1,208,822	11,172	134,445	1,223,280	1,357,725	(162,954)
OM	29,649	77,396	939,890	139,096	77,368	1,079,014	1,156,382	(244,026)
Triple-Net Leased Properties	98,359	27,793	277,861	5,286	27,793	283,147	310,940	(77,914)
Construction in progress	—	4,190	2,641	31,893	6,421	32,303	38,724	(1,318)
Total	$985,565	$402,178	$4,041,401	$702,559	$420,046	$4,726,092	$5,146,138	$(962,719)

(a)

We own 100% of our properties as of December 31, 2025, with the exception of our investments in Southlake TX Hospital and Louisiana Senior Housing Portfolio.

(b)

The cost capitalized subsequent to acquisition is shown net of dispositions and impairments.

(c)

Represents furniture, fixtures, equipment, land and improvements associated with properties under operating leases.

(d)

The changes in total real estate for the years ended December 31, 2025, 2024 and 2023 are as follows (in thousands):

	Amount
Balance — December 31, 2022	$4,236,447
Acquisitions	55,658
Additions	97,667
Dispositions and impairments	(214,906)
Foreign currency translation adjustment	2,729
Balance — December 31, 2023	$4,177,595
Acquisitions	$172,811
Additions	90,312
Dispositions and impairments	(204,269)
Foreign currency translation adjustment	(835)
Balance — December 31, 2024	$4,235,614
Acquisitions	$925,216
Additions	143,247
Dispositions and impairments	(161,890)
Foreign currency translation adjustment	3,951
Balance — December 31, 2025	$5,146,138

(e)

As of December 31, 2025, the unaudited aggregate cost of our properties was $5,008,595 for U.S. federal income tax purposes.

(f)

The changes in accumulated depreciation for the years ended December 31, 2025, 2024 and 2023 are as follows (in thousands):

	Amount
Balance — December 31, 2022	$654,838
Additions	147,587
Dispositions and impairments	(50,790)
Foreign currency translation adjustment	522
Balance — December 31, 2023	$752,157
Additions	$151,351
Dispositions and impairments	(34,341)
Foreign currency translation adjustment	(201)
Balance — December 31, 2024	$868,966
Additions	$156,449
Dispositions and impairments	(63,648)
Foreign currency translation adjustment	952
Balance — December 31, 2025	$962,719

(g)

The cost of buildings and capital improvements is depreciated on a straight-line basis over the estimated useful lives of the buildings and capital improvements, up to 39 years, and the cost of tenant improvements is depreciated over the shorter of the lease term or useful life, up to 34 years. The cost of furniture, fixtures and equipment is depreciated over the estimated useful life, up to 28 years.

EXHIBITS LIST

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.