American Healthcare REIT Inc
For the period ended Dec 31, 2023. Filed Mar 22, 2024.
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FY2023 · Filed Mar 22, 2024
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Consolidated Balance Sheets as of December 31, 202 and
CONSOLIDATED BALANCE SHEETS
As of December 31, 2023 and 2022
| December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| ASSETS | ||
| Real estate investments, net | $3,425,438 | $3,581,609 |
| Debt security investment, net | 86,935 | 83,000 |
| Cash and cash equivalents | 43,445 | 65,052 |
| Restricted cash | 47,337 | 46,854 |
| Accounts and other receivables, net | 185,379 | 137,501 |
| Identified intangible assets, net | 180,470 | 236,283 |
| Goodwill | 234,942 | 231,611 |
| Operating lease right-of-use assets, net | 227,846 | 276,342 |
| Other assets, net | 146,141 | 128,446 |
| Total assets | $4,577,933 | $4,786,698 |
| LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY | ||
| Liabilities: | ||
| Mortgage loans payable, net(1) | $1,302,396 | $1,229,847 |
| Lines of credit and term loan, net(1) | 1,223,967 | 1,281,794 |
| Accounts payable and accrued liabilities(1) | 242,905 | 243,831 |
| Identified intangible liabilities, net | 6,095 | 10,837 |
| Financing obligations(1) | 41,756 | 48,406 |
| Operating lease liabilities(1) | 225,502 | 273,075 |
| Security deposits, prepaid rent and other liabilities(1) | 76,134 | 49,545 |
| Total liabilities | 3,118,755 | 3,137,335 |
| Commitments and contingencies (Note 11) | ||
| Redeemable noncontrolling interests (Note 12) | 33,843 | 81,598 |
| Equity: | ||
| Stockholders’ equity: | ||
| Preferred stock, $0.01 par value per share; 200,000,000 shares authorized; none issued and outstanding | — | — |
| Class T common stock, $0.01 par value per share; 200,000,000 shares authorized; 19,552,856 and 19,535,095 shares issued and outstanding as of December 31, 2023 and 2022, respectively | 194 | 194 |
| Class I common stock, $0.01 par value per share; 800,000,000 shares authorized; 46,673,320 and 46,675,367 shares issued and outstanding as of December 31, 2023 and 2022, respectively | 467 | 467 |
| Additional paid-in capital | 2,548,307 | 2,540,424 |
| Accumulated deficit | (1,276,222) | (1,138,304) |
| Accumulated other comprehensive loss | (2,425) | (2,690) |
| Total stockholders’ equity | 1,270,321 | 1,400,091 |
| Noncontrolling interests (Note 13) | 155,014 | 167,674 |
| Total equity | 1,425,335 | 1,567,765 |
| Total liabilities, redeemable noncontrolling interests and equity | $4,577,933 | $4,786,698 |
CONSOLIDATED BALANCE SHEETS — (Continued)
As of December 31, 2023 and 2022
(1)Such liabilities of American Healthcare REIT, Inc. represented liabilities of American Healthcare REIT Holdings, LP or its consolidated subsidiaries as of December 31, 2023 and 2022. American Healthcare REIT Holdings, LP is a variable interest entity, or VIE, and a consolidated subsidiary of American Healthcare REIT, Inc. The creditors of American Healthcare REIT Holdings, LP or its consolidated subsidiaries do not have recourse against American Healthcare REIT, Inc., except for the 2022 Credit Facility, as defined in Note 9, held by American Healthcare REIT Holdings, LP in the amount of $914,900 and $965,900, as of December 31, 2023 and 2022, respectively, which was guaranteed by American Healthcare REIT, Inc.
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