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Real Estate Investments (Tables) | 12 Months Ended
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Dec. 31, 2023
Real Estate [Abstract] |
Schedule of Real Estate Property Acquisition | The table below represents the purchase price allocations (including net closing adjustments) of acquisitions for the years ended December 31, 2023, 2022 and 2021:
Date |  | Location |  | Type of Property |  | Number of Properties |  | Square Feet |  |  | Cash Paid (1) |  | Land |  | Buildings and Improvements |  |  |  | Acquired Real Estate Leases |  |  |  |  |  |
Acquisitions during the year ended December 31, 2023:
We did not acquire any properties during the year ended December 31, 2023.
Acquisitions during the year ended December 31, 2022 (2):
July 2022 |  | California |  | Life Science |  | 1 |  | 88,508 |  |  |  | $ | 75,105 |  |  | $ | 15,774 |  |  | $ | 45,249 |  |  |  |  | $ | 14,082 |  |  |  |  |  |  |
Acquisitions during the year ended December 31, 2021:
We did not acquire any properties during the year ended December 31, 2021.
(1)Cash paid includes closing costs. (2)We have accounted for our 2022 acquisition as an acquisition of assets. We funded this acquisition using cash on hand.
Schedule of Disposal Groups |
Date of Sale |  | Location |  | Type of Property |  | Number of Properties |  | Square Feet or Number of Units |  |  | Sales Price (1) |  | Gain (Loss) on Sale
Dispositions during the year ended December 31, 2023:
February 2023 |  | Pennsylvania and South Carolina |  | Senior Living |  | 3 |  | — |  | units (2) |  | $ | 2,800 |  |  | $ | 293 |
October 2023 |  | Pennsylvania |  | Medical Office |  | 1 |  | 30,866 |  | sq. ft. |  | 1,800 |  |  | 15 |
October 2023 |  | Tennessee |  | Senior Living |  | 1 |  | — |  | units (2) |  | 2,830 |  |  | 627 |
October 2023 |  | Maryland |  | Life Science |  | 1 |  | 58,880 |  | sq. ft. |  | 6,200 |  |  | (360) |
November 2023 |  | Virginia |  | Senior Living |  | 1 |  | — |  | units (2) |  | 1,800 |  |  | 945 |
December 2023 |  | South Carolina |  | Medical Office |  | 1 |  | 115,108 |  | sq. ft. |  | 3,450 |  |  | (1,255) |
|  |  |  |  |  | 8 |  |  |  |  | $ | 18,880 |  |  | $ | 265 |
Dispositions during the year ended December 31, 2022:
We did not dispose of any properties during the year ended December 31, 2022.
Dispositions during the year ended December 31, 2021:
February 2021 |  | Pennsylvania |  | Medical Office |  | 1 |  | 92,000 |  | sq. ft. |  | $ | 9,000 |  |  | $ | (122) |
April 2021 |  | Florida |  | Life Science / Medical Office |  | 4 |  | 263,656 |  | sq. ft. |  | 95,500 |  |  | 30,760 |
|  |  |  |  |  | 5 |  |  |  |  | $ | 104,500 |  |  | $ | 30,638 |
(1)Sales price excludes closing costs. (2)These communities were closed prior to their respective dispositions.
Schedule of Equity Method Investments | As of December 31, 2023, we had equity investments in unconsolidated joint ventures as follows:
Equity Method Investments in Joint Venture |  | DHC Ownership |  | DHC Carrying Value of Investment at December 31, 2023 |  | Number of Properties |  | Location |  | Square Feet
Seaport Innovation LLC |  | 10% |  | $ | 85,699 |  |  | 1 |  | MA |  | 1,134,479 |
The LSMD Fund REIT LLC |  | 20% |  | 44,217 |  |  | 10 |  | CA, MA, NY, TX, WA |  | 1,068,763 |
|  |  |  | $ | 129,916 |  |  | 11 |  |  |  | 2,203,242 |
The following table provides a summary of the mortgage debts of these joint ventures:
Joint Venture |  | Coupon Rate |  | Maturity Date |  | Principal Balance at December 31, 2023 (1)
Mortgage Notes Payable (secured by one property in Massachusetts) (2) |  | 3.53% |  | 8/6/2026 |  | $ | 620,000 |
Mortgage Notes Payable (secured by nine properties in five states) (3) |  | 3.46% |  | 2/11/2032 |  | 189,800 |
Mortgage Notes Payable (secured by one property in California) (3)(4) |  | 5.90% |  | 2/9/2025 |  | 266,825 |
Weighted Average / Total |  | 4.10% |  |  |  | $ | 1,076,625 |
(1)Amounts are not adjusted for our minority equity interest. (2)Following the deconsolidation in December 2021 of the net assets of the Seaport JV, we no longer include this $620,000 of secured debt financing in our consolidated balance sheet; however, we continue to provide certain guaranties on this debt. (3)The debt securing these properties is non-recourse to us. (4)The joint venture exercised its option to extend the maturity date of this mortgage loan by one year to February 9, 2025, and this mortgage loan requires interest to be paid at an annual rate of SOFR, plus a premium of 1.90%. The interest rate is as of December 31, 2023. This joint venture has also purchased an interest rate cap through February 2025 with a SOFR strike rate equal to 4.48% and an initial premium of $1,200. The maturity date of this mortgage loan is subject to two remaining one-year extension options.

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