Community Healthcare Trust Inc
For the period ended Dec 31, 2024. Filed Feb 18, 2025.
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FY2024 · Filed Feb 18, 2025
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Signatures
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: February 18, 2025
| COMMUNITY HEALTHCARE TRUST INCORPORATED | |
| By: | /s/ David H. Dupuy |
| David H. Dupuy | |
| Chief Executive Officer and President |
Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been signed by the following persons on behalf of the Company and in the capacities and on the date indicated.
| Signature | Title | Date |
|---|---|---|
| /s/ David H. Dupuy | Chief Executive Officer and President | February 18, 2025 |
| David H. Dupuy | (Principal Executive Officer) | |
| /s/ William G. Monroe IV | Executive Vice President and Chief Financial Officer | February 18, 2025 |
| William G. Monroe IV | (Principal Financial Officer) | |
| /s/ Leigh Ann Stach | Executive Vice President and Chief Accounting Officer | February 18, 2025 |
| Leigh Ann Stach | (Principal Accounting Officer) | |
| /s/ Cathrine Cotman | Director | February 18, 2025 |
| Cathrine Cotman | ||
| /s/ Alan Gardner | Director | February 18, 2025 |
| Alan Gardner | ||
| /s/ Claire Gulmi | Director | February 18, 2025 |
| Claire Gulmi | ||
| /s/ Robert Hensley | Director | February 18, 2025 |
| Robert Hensley | ||
| /s/ R. Lawrence Van Horn | Director | February 18, 2025 |
| R. Lawrence Van Horn | ||
Schedule II - Valuation and Qualifying Accounts for the years ended December 31, 2024, 2023 and 2022
| Additions | ||||||
|---|---|---|---|---|---|---|
| Description · Balance at Beginning of Period · Charged to Costs and Expenses · Charged to Other Accounts · Uncollectible Accounts Written-off · Balance at End of Period | ||||||
| 2024 | Accounts receivable allowance | $325 | $70 | $— | $— | $395 |
| 2023 | Accounts receivable allowance | $75 | $250 | $— | $— | $325 |
| 2022 | Accounts receivable allowance | $75 | $9 | $— | $(9) | $75 |
Schedule III - Real Estate and Accumulated Depreciation at December 31, 2024
| Land and Land Improvements · Buildings, Improvements, and Lease Intangibles | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Property Type | Number of Properties | State | Initial Investment | Costs Capitalized Subsequent to Acquisition | Total | Initial Investment | Costs Capitalized Subsequent to Acquisition | Total | Personal Property | Total Property (1) (2) | Accumulated Depreciation (2) (3) | Encumbrances (Principal balance) | Date Acquired | Original Date Constructed |
| Medical office buildings | 93 | AL, AZ, CA, CO, CT, FL, GA, IA, IL, KS, KY, LA, MD, MI, MN, MS, NE, NJ, NV, NY, OH, PA, TN, TX, VA | $72,323 | $6,541 | $78,864 | $332,833 | $53,586 | $386,419 | $— | $465,283 | $117,502 | $— | 2015 - 2024 | 1880 - 2015 |
| Acute inpatient behavioral | 5 | IL, MA, WA, WV | 10,721 | — | 10,721 | 119,414 | 400 | 119,814 | — | 130,535 | 19,822 | — | 2016 - 2020 | 1920 - 2017 |
| Inpatient rehabilitation facilities | 9 | AR, OH, OK, TX | 19,333 | — | 19,333 | 178,986 | — | 178,986 | — | 198,319 | 16,288 | — | 2019 - 2024 | 2012 - 2024 |
| Specialty centers | 37 | AL, CA, CO, FL, GA, IL, MA, MD, NC, NV, OH, OK, PA, RI, TN, VA, WV | 13,327 | 213 | 13,540 | 94,865 | 3,125 | 97,990 | — | 111,530 | 29,952 | — | 2015 - 2022 | 1956 - 2018 |
| Physician clinics | 35 | CT, FL, IA, IL, KS, MO, OH, PA, RI, SC, TN, TX, VA, WI | 15,087 | 799 | 15,886 | 87,223 | 5,007 | 92,230 | — | 108,116 | 29,632 | — | 2015 - 2024 | 1912 - 2020 |
| Surgical centers and hospitals | 7 | AZ, IL, LA, MI, OH, PA | 3,259 | 159 | 3,418 | 38,941 | 6,661 | 45,602 | — | 49,020 | 13,550 | — | 2015 - 2018 | 1970 - 2004 |
| Behavioral specialty facilities | 12 | AZ, IN, LA, MI, MS, OH | 5,681 | 81 | 5,762 | 47,929 | 8,389 | 56,318 | — | 62,080 | 9,378 | — | 2015 - 2022 | 1961 - 2020 |
| Long-term acute care hospitals | 2 | IN, MA | 2,064 | — | 2,064 | 19,411 | 9 | 19,420 | — | 21,484 | 5,454 | — | 2017 - 2024 | 1935 - 1978 |
| Total Real Estate | 200 | 141,795 | 7,793 | 149,588 | 919,602 | 77,177 | 996,779 | — | 1,146,367 | 241,578 | — | |||
| Sales-type lease | — | (87) | — | (87) | (3,401) | — | (3,401) | — | (3,488) | — | — | |||
| Corporate property | — | — | — | — | 2,011 | 715 | 2,726 | 326 | 3,052 | 1,031 | — | |||
| Total Properties | 200 | $141,708 | $7,793 | $149,501 | $918,212 | $77,892 | $996,104 | $326 | $1,145,931 | $242,609 | $— | |||
(1) Total properties as of December 31, 2024 have an estimated aggregate total cost of$1.1 billion (unaudited) for federal income tax purposes.
(2) Excludes real estate properties held for sale as of December 31, 2024.
(3) Depreciation is provided for on a straight-line basis on land improvements over 2 to 20 years, buildings over 7 to 50 years, building improvements over 1.4 to 39.8 years, tenant improvements over 2.0 to 15.1 years, lease intangibles over 1.4 to 13.7 years, and personal property over 3 to 10 years.
(4) A reconciliation of Total Property and Accumulated Depreciation for the years ended December 31, 2024, 2023, and 2022 is provided below.
| Year Ended December 31, 2024 · Year Ended December 31, 2023 · Year Ended December 31, 2022 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| (Dollars in thousands) · Total Property · Accumulated Depreciation · Total Property · Accumulated Depreciation · Total Property · Accumulated Depreciation | |||||||||||
| Beginning Balance | $1,050,247 | $200,810 | $943,167 | $165,341 | $834,085 | $133,056 | |||||
| Acquisitions | 73,021 | 1,682 | 101,856 | 2,055 | 96,729 | 1,034 | |||||
| Other improvements | 25,317 | 40,434 | 18,561 | 37,580 | 12,353 | 31,251 | |||||
| Dispositions and transfers to/from assets held for sale: | (2,654) | (317) | (13,337) | (4,166) | — | — | |||||
| Ending Balance | $1,145,931 | $242,609 | $1,050,247 | $200,810 | $943,167 | $165,341 | |||||
Schedule IV - Mortgage Loans on Real Estate as of December 31, 2024
| Description of Collateral | Interest Rate | Maturity Date | Periodic Payment Terms | Original Face Amount | Carrying Amount | Principal amount of loans subject to delinquent principal or interest |
|---|---|---|---|---|---|---|
| Inpatient rehabilitation hospital in Texas | 10% | 8/15/2027 | (1) | $2,000 | $2,000 | $— |
| Total Mortgage Loans | $2,000 | $2,000 | $— | |||
(1) Interest only through the earlier of August 15, 2027 or the sale of the collateral, at which time the principal and any unpaid interest is due.
(2) A rollforward of Mortgage loans on real estate for the years ended December 31, 2024, 2023 and 2022 is provided below.
| Year Ended December 31, | ||||||
|---|---|---|---|---|---|---|
| 2024 · 2023 · 2022 | ||||||
| Balance at beginning of period | $— | $— | $— | |||
| Additions during the period: | ||||||
| New or acquired mortgages, net | 2,000 | — | — | |||
| 2,000 | — | — | ||||
| Balance at end of period | $2,000 | $— | $— | |||
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