Real Estate Investments (Tables)

3 Months Ended

Mar. 31, 2023

Real Estate [Abstract]

Schedule of Joint Ventures

As of March 31, 2023, we had equity investments in joint ventures as follows:

Joint Venture	DHC Ownership	DHC Carrying Value of Investment at March 31, 2023		Number of Properties	Location	Square Feet
Seaport Innovation LLC	10%	$	104,764	1	MA	1,134,479
The LSMD Fund REIT LLC	20%	48,655		10	CA, MA, NY, TX, WA	1,068,763
		$	153,419	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 March 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%	2/9/2024	266,825
	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 an unconsolidated joint venture that owns a life science property located in Boston, Massachusetts, or the Seaport JV, we no longer include this $620,000 of secured debt financing in our condensed 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 maturity date of February 9, 2024 is subject to three, one year extension options and requires interest to be paid at an annual rate based on the secured overnight financing rate, or SOFR, plus a premium of 1.90%. The interest rate is as of March 31, 2023. This joint venture has also purchased an interest rate cap through February 2024 with a SOFR strike rate equal to 4.00%.

Schedule of Disposal Groups

Date of Sale	Location	Type of Property	Number of Properties	Sales Price (1)		Gain on Sale
February 2023	Pennsylvania and South Carolina	Senior Living	3	$	2,800	$	293

(1)Sales price excludes closing costs.