Schedule III: Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2015

Schedule III: Real Estate and Accumulated Depreciation

Schedule III: Real Estate and Accumulated Depreciation

Schedule III: Real Estate and Accumulated Depreciation

									Costs											Life on Which
									Capitalized		Gross Amount at Which Carried									Depreciation in
					Initial Cost to Company				Subsequent		As of December 31, 2015								Year	Latest Income
			Encumbrances at				Buildings and		to				Buildings and				Accumulated		Acquired/	Statement is
City		State	December 31, 2015		Land		Improvements		Acquisition		Land		Improvements		Total(1)		Depreciation		Constructed	Computed
Senior housing
1107	Huntsville	AL	$	—	$	307	$	5,813	$	—	$	307	$	5,453	$	5,760	$	(1,261)	2006	40
2366	Little Rock	AR		—		1,922		14,140		1,762		2,046		15,284		17,330		(3,521)	2006	45
0786	Douglas	AZ		—		110		703		—		110		703		813		(325)	2005	35
2384	Prescott	AZ		—		1,276		8,660		1,423		1,276		10,083		11,359		(1,102)	2012	45
1974	Sun City	AZ		26,445		2,640		33,223		2,021		2,640		34,716		37,356		(6,035)	2011	30
0518	Tucson	AZ		—		2,350		24,037		—		2,350		24,037		26,387		(9,815)	2002	30
1238	Beverly Hills	CA		—		9,872		32,590		4,194		9,872		36,059		45,931		(8,777)	2006	40
2362	Camarillo	CA		—		5,798		19,427		730		5,822		19,357		25,179		(4,654)	2006	45
2352	Carlsbad	CA		—		7,897		14,255		1,442		7,897		14,906		22,803		(3,370)	2006	45
0883	Carmichael	CA		—		4,270		13,846		—		4,270		13,236		17,506		(3,006)	2006	40
2204	Chino Hills	CA		—		3,720		41,183		—		3,720		41,183		44,903		(2,179)	2014	35
0851	Citrus Heights	CA		—		1,180		8,367		—		1,180		8,037		9,217		(2,566)	2006	29
2092	Clearlake	CA		—		354		4,799		237		354		5,036		5,390		(486)	2012	45
0790	Concord	CA		25,000		6,010		39,601		—		6,010		38,301		44,311		(9,960)	2005	40
2399	Corona	CA		—		2,637		10,134		184		2,637		10,318		12,955		(1,029)	2012	45
0787	Dana Point	CA		—		1,960		15,946		—		1,960		15,466		17,426		(4,027)	2005	39
2364	Elk Grove	CA		—		2,235		6,339		763		2,235		6,949		9,184		(1,580)	2006	45
0798	Escondido	CA		14,340		5,090		24,253		—		5,090		23,353		28,443		(6,082)	2005	40
2054	Fortuna	CA		—		818		3,295		11		818		3,306		4,124		(1,096)	2012	50
2079	Fortuna	CA		—		1,346		11,856		44		1,346		11,900		13,246		(2,854)	2012	45
0791	Fremont	CA		8,402		2,360		11,672		—		2,360		11,192		13,552		(2,915)	2005	40
1965	Fresno	CA		18,345		1,730		31,918		1,713		1,730		33,202		34,932		(5,645)	2011	30
0788	Granada Hills	CA		—		2,200		18,257		—		2,200		17,637		19,837		(4,593)	2005	39
0856	Irvine	CA		—		8,220		14,104		—		8,220		13,564		21,784		(2,838)	2006	45
0227	Lodi	CA		8,532		732		5,453		—		732		5,453		6,185		(2,696)	1997	35
0226	Murietta	CA		5,732		435		5,729		—		435		5,729		6,164		(2,765)	1997	35
1165	Northridge	CA		—		6,718		26,309		2,117		6,752		27,583		34,335		(6,259)	2006	40
1561	Orangevale	CA		—		2,160		8,522		1,144		2,160		9,146		11,306		(2,358)	2008	40
1168	Palm Springs	CA		—		1,005		5,183		496		1,005		5,315		6,320		(1,308)	2006	40
0789	Pleasant Hill	CA		6,270		2,480		21,333		—		2,480		20,633		23,113		(5,373)	2005	40
2369	Rancho Mirage	CA		—		1,798		24,053		667		1,811		23,792		25,603		(5,586)	2006	45
2128	Red Bluff	CA		—		—		—		279		—		279		279		(7)	2012	45
2205	Roseville	CA		—		3,844		33,527		—		3,844		33,527		37,371		(1,740)	2014	35
2380	Roseville	CA		—		692		21,662		102		692		21,764		22,456		(1,791)	2012	45
2353	San Diego	CA		—		6,384		32,072		1,348		6,384		32,317		38,701		(7,402)	2006	45
1007	San Dimas	CA		—		5,628		31,374		1,398		5,630		31,977		37,607		(7,268)	2006	40
2354	San Juan Capistrano	CA		—		5,983		9,614		1,380		5,983		10,708		16,691		(2,377)	2006	45
1167	Santa Rosa	CA		—		3,582		21,113		1,209		3,627		21,508		25,135		(5,107)	2006	40
0793	South San Francisco	CA		9,692		3,000		16,586		—		3,000		16,056		19,056		(4,175)	2005	40
1966	Sun City	CA		13,888		2,650		22,709		3,350		2,650		25,605		28,255		(4,648)	2011	30
0792	Ventura	CA		9,157		2,030		17,379		—		2,030		16,749		18,779		(4,362)	2005	40
1155	Yorba Linda	CA		—		4,968		19,290		1,603		5,030		20,035		25,065		(4,495)	2006	40
2055	Yreka	CA		—		565		9,184		137		565		9,321		9,886		(947)	2012	45
2505	Arvada	CO		—		2,012		29,264		140		2,012		29,404		31,416		(527)	2015	35
2506	Boulder	CO		—		2,447		35,471		36		2,447		35,507		37,954		(606)	2015	35
2373	Colorado Springs	CO		—		1,910		24,479		1,290		1,910		24,806		26,716		(5,707)	2006	45
2146	Denver	CO		—		875		5,693		168		875		5,861		6,736		(647)	2012	45
2515	Denver	CO		—		2,310		18,416		580		2,310		18,996		21,306		(386)	2015	35
0512	Denver	CO		—		2,810		36,021		1,885		2,810		37,906		40,716		(15,146)	2002	30
1233	Denver	CO		—		2,511		30,641		1,730		2,528		31,552		34,080		(7,174)	2006	40
2507	Englewood	CO		—		7,068		102,330		992		7,068		103,322		110,390		(1,748)	2015	35
1000	Greenwood Village	CO		—		3,367		43,610		2,894		3,367		45,708		49,075		(9,528)	2006	40
2508	Lakewood	CO		—		4,163		60,601		649		4,163		61,249		65,412		(1,050)	2015	35
2509	Lakewood	CO		—		2,562		37,215		70		2,562		37,285		39,847		(666)	2015	35
1234	Lakewood	CO		—		3,012		31,913		1,550		3,012		32,665		35,677		(7,437)	2006	40
2091	Montrose	CO		—		1,078		24,224		946		1,078		25,170		26,248		(2,088)	2012	50
2085	Glastonbury	CT		—		3,743		9,766		86		3,743		9,852		13,595		(1,042)	2012	45
2144	Glastonbury	CT		—		1,658		16,046		103		1,658		16,149		17,807		(1,537)	2012	45
0730	Torrington	CT		—		166		11,001		888		166		11,479		11,645		(2,863)	2005	40
2355	Woodbridge	CT		—		2,352		9,929		1,343		2,363		10,799		13,162		(2,439)	2006	45
2519	Altamonte Springs	FL		—		2,480		18,883		158		2,480		18,221		20,701		(2,545)	2015	35
2521	Altamonte Springs	FL		—		—		—		110		—		110		110		(3)	2015	35
0861	Apopka	FL		—		920		4,816		418		920		5,134		6,054		(1,262)	2006	35
0852	Boca Raton	FL		—		4,730		17,532		5,471		4,730		22,592		27,322		(6,149)	2006	30
1001	Boca Raton	FL		11,066		2,415		17,923		—		2,415		17,561		19,976		(3,817)	2006	40
1963	Boynton Beach	FL		27,256		2,550		31,521		3,279		2,550		34,240		36,790		(5,967)	2011	30
1964	Boynton Beach	FL		3,816		570		5,649		1,763		570		7,219		7,789		(1,550)	2011	30
0544	Boynton Beach	FL		7,633		1,270		4,773		—		1,270		4,773		6,043		(1,531)	2003	40
2520	Clearwater	FL		—		2,250		2,627		49		2,250		2,676		4,926		(855)	2015	35
0746	Clearwater	FL		—		3,856		12,176		805		3,856		10,850		14,706		(3,011)	2005	40
0862	Clermont	FL		—		440		6,518		133		440		6,551		6,991		(1,705)	2006	35
1002	Coconut Creek	FL		13,233		2,461		16,006		—		2,461		15,620		18,081		(3,395)	2006	40
0492	Delray Beach	FL		10,866		850		6,637		—		850		6,637		7,487		(1,913)	2002	43
2517	Ft Lauderdale	FL		—		2,800		43,482		114		2,800		43,597		46,397		(835)	2015	35
2351	Gainesville	FL		—		1,020		13,490		184		1,020		13,274		14,294		(3,143)	2015	50
1095	Gainesville	FL		—		1,221		12,226		—		1,221		12,001		13,222		(2,775)	2006	40
2437	Jacksonville	FL		—		2,450		13,683		201		2,450		13,883		16,333		(265)	2015	35
0490	Jacksonville	FL		42,014		3,250		25,936		6,170		3,250		32,106		35,356		(10,755)	2002	35
1096	Jacksonville	FL		—		1,587		15,616		—		1,587		15,298		16,885		(3,538)	2006	40
2518	Lake Worth	FL		—		1,680		13,224		452		1,680		13,675		15,355		(308)	2015	35
0855	Lantana	FL		—		3,520		26,452		—		3,520		25,652		29,172		(8,052)	2006	30
1968	Largo	FL		47,807		2,920		64,988		7,580		2,920		71,440		74,360		(13,123)	2011	30
2522	Lutz	FL		—		860		14,511		390		860		14,900		15,760		(284)	2015	35
0731	Ocoee	FL		—		2,096		9,322		571		2,096		9,372		11,468		(2,371)	2005	40
2523	Orange City	FL		—		830		9,359		222		830		9,581		10,411		(198)	2015	35
0859	Oviedo	FL		—		670		8,071		260		670		8,231		8,901		(2,113)	2006	35
1970	Palm Beach Gardens	FL		26,325		4,820		24,937		17,010		4,820		41,152		45,972		(6,432)	2011	30
1017	Palm Harbor	FL		—		1,462		16,774		500		1,462		16,888		18,350		(3,973)	2006	40
0732	Port Orange	FL		—		2,340		9,898		333		2,340		9,710		12,050		(2,521)	2005	40
2524	Port St Lucie	FL		—		860		10,087		304		860		10,392		11,252		(215)	2015	35
1971	Sarasota	FL		22,041		3,050		29,516		4,249		3,050		33,345		36,395		(5,901)	2011	30
2525	Sarasota	FL		—		1,470		15,639		96		1,470		15,735		17,205		(329)	2015	35
2194	Springtree	FL		—		1,066		15,874		215		1,066		16,089		17,155		(1,570)	2013	45
0802	St. Augustine	FL		—		830		11,627		290		830		11,517		12,347		(3,326)	2005	35
1097	Tallahassee	FL		—		1,331		19,039		—		1,331		18,695		20,026		(4,323)	2006	40
2526	Tamarac	FL		—		950		15,651		42		950		15,693		16,643		(297)	2015	35
0224	Tampa	FL		—		600		5,566		1,147		696		6,595		7,291		(2,592)	1997	45
0849	Tampa	FL		—		800		11,340		773		800		11,713		12,513		(2,661)	2006	40
2513	Venice	FL		—		1,120		20,366		378		1,120		20,744		21,864		(383)	2015	35
1605	Vero Beach	FL		—		700		16,234		—		700		16,234		16,934		(2,962)	2010	35
2527	Vero Beach	FL		—		1,040		17,186		359		1,040		17,545		18,585		(337)	2015	35
1257	Vero Beach	FL		—		2,035		34,993		201		2,035		33,634		35,669		(7,775)	2006	40
1976	West Palm Beach	FL		—		390		2,241		294		390		2,451		2,841		(470)	2011	30
1098	Alpharetta	GA		—		793		8,761		1,181		793		9,656		10,449		(2,212)	2006	40
2370	Atlanta	GA		—		2,665		5,911		854		2,669		6,491		9,160		(1,570)	2006	45

									Costs											Life on Which
									Capitalized		Gross Amount at Which Carried									Depreciation in
					Initial Cost to Company				Subsequent		As of December 31, 2015								Year	Latest Income
			Encumbrances at				Buildings and		to				Buildings and				Accumulated		Acquired/	Statement is
City		State	December 31, 2015		Land		Improvements		Acquisition		Land		Improvements		Total(1)		Depreciation		Constructed	Computed
1099	Atlanta	GA		—		687		5,507		1,281		687		6,387		7,074		(1,476)	2006	40
2108	Buford	GA		—		562		3,604		190		562		3,794		4,356		(405)	2012	45
2109	Buford	GA		—		536		3,142		141		536		3,283		3,819		(345)	2012	45
2388	Buford	GA		—		1,987		6,561		231		1,987		6,792		8,779		(741)	2012	45
2053	Canton	GA		—		401		17,888		69		401		17,957		18,358		(1,383)	2012	50
2165	Hartwell	GA		—		368		6,337		227		368		6,564		6,932		(569)	2012	45
2066	Lawrenceville	GA		—		581		2,669		78		581		2,747		3,328		(356)	2012	45
1241	Lilburn	GA		—		907		17,340		132		907		16,916		17,823		(3,925)	2006	40
2167	Lithia Springs	GA		—		1,031		6,954		79		1,031		7,033		8,064		(767)	2012	40
2105	Macon	GA		—		814		10,890		49		814		10,939		11,753		(881)	2012	45
2395	Marietta	GA		—		987		4,818		119		987		4,937		5,924		(542)	2012	45
1112	Marietta	GA		—		894		6,944		725		904		7,392		8,296		(1,798)	2006	40
2086	Newnan	GA		—		1,227		4,202		56		1,227		4,258		5,485		(514)	2012	45
2118	Woodstock	GA		—		764		7,334		73		764		7,407		8,171		(683)	2012	45
2157	Woodstock	GA		—		1,926		12,757		81		1,926		12,838		14,764		(1,185)	2012	45
1088	Davenport	IA		—		511		8,039		—		511		7,868		8,379		(1,819)	2006	40
1093	Marion	IA		—		502		6,865		—		502		6,713		7,215		(1,552)	2006	40
2397	Sioux City	IA		—		197		8,078		484		197		8,562		8,759		(827)	2012	45
1091	Bloomington	IL		—		798		13,091		127		798		12,959		13,757		(2,967)	2006	40
2375	Burr Ridge	IL		—		2,640		23,901		1,691		2,704		24,538		27,242		(5,451)	2010	45
1089	Champaign	IL		—		101		4,207		1,592		279		5,463		5,742		(1,179)	2006	40
2200	Deer Park	IL		—		4,172		2,417		34,630		4,172		37,047		41,219		—	2014	*
1090	Macomb	IL		—		81		6,062		—		81		5,905		5,986		(1,366)	2006	40
1143	Mt. Vernon	IL		—		296		15,935		3,562		512		18,949		19,461		(4,102)	2006	40
1969	Niles	IL		25,231		3,790		32,912		4,889		3,790		37,076		40,866		(6,903)	2011	30
1005	Oak Park	IL		24,975		3,476		35,259		1,862		3,476		36,575		40,051		(7,653)	2006	40
1961	Olympia Fields	IL		28,513		4,120		29,400		2,886		4,120		31,763		35,883		(5,478)	2011	30
1162	Orland Park	IL		—		2,623		23,154		534		2,623		23,058		25,681		(5,351)	2006	40
1092	Peoria	IL		—		404		10,050		—		404		9,840		10,244		(2,276)	2006	40
2376	Prospect Heights	IL		—		2,680		20,299		1,870		2,725		21,119		23,844		(4,642)	2010	45
2367	Schaumburg	IL		—		1,701		12,037		1,322		1,704		12,772		14,476		(2,809)	2006	45
1952	Vernon Hills	IL		41,844		4,900		45,854		4,977		4,900		50,144		55,044		(8,378)	2011	30
1237	Wilmette	IL		—		1,100		9,373		—		1,100		9,149		10,249		(2,116)	2006	40
0379	Evansville	IN		—		500		9,302		—		500		7,762		8,262		(2,821)	1999	45
1144	Indianapolis	IN		—		1,197		7,718		—		1,197		7,486		8,683		(1,731)	2006	40
0457	Jasper	IN		—		165		5,952		359		165		6,311		6,476		(2,627)	2001	35
2047	Kokomo	IN		—		296		3,245		—		296		3,057		3,353		(428)	2012	30
1146	West Lafayette	IN		—		813		10,876		—		813		10,626		11,439		(2,457)	2006	40
2371	Edgewood	KY		—		1,868		4,934		1,895		1,915		6,352		8,267		(1,270)	2006	45
0697	Lexington	KY		—		2,093		16,917		—		2,093		16,299		18,392		(6,245)	2004	30
1105	Louisville	KY		—		1,499		26,252		240		1,513		25,868		27,381		(6,095)	2006	40
2115	Murray	KY		—		288		7,400		98		288		7,498		7,786		(763)	2012	45
2135	Paducah	KY		—		621		16,768		71		621		16,839		17,460		(1,297)	2012	50
2358	Danvers	MA		—		4,616		30,692		1,120		4,621		31,221		35,842		(7,209)	2006	45
2363	Dartmouth	MA		—		3,145		6,880		691		3,176		7,292		10,468		(1,789)	2006	45
2357	Dedham	MA		—		3,930		21,340		1,212		3,930		21,977		25,907		(5,034)	2006	45
1158	Plymouth	MA		—		2,434		9,027		489		2,438		9,035		11,473		(2,219)	2006	40
2365	Baltimore	MD		—		1,684		18,889		532		1,696		18,986		20,682		(4,475)	2006	45
1249	Frederick	MD		—		609		9,158		401		609		9,314		9,923		(2,269)	2006	40
2541	Olney	MD		—		1,580		34,363		—		1,580		34,363		35,943		(161)	2015	40
2356	Pikesville	MD		—		1,416		8,854		612		1,416		9,005		10,421		(2,192)	2006	45
0281	Westminster	MD		—		768		5,251		229		768		5,535		6,303		(1,937)	1998	45
0546	Cape Elizabeth	ME		—		630		3,524		93		630		3,617		4,247		(1,156)	2003	40
0545	Saco	ME		—		80		2,363		155		80		2,518		2,598		(801)	2003	40
1258	Auburn Hills	MI		—		2,281		10,692		—		2,281		10,692		12,973		(2,473)	2006	40
1248	Farmington Hills	MI		—		1,013		12,119		457		1,013		12,233		13,246		(3,019)	2006	40
1094	Portage	MI		—		276		5,733		5,012		276		10,378		10,654		(2,168)	2006	40
2435	Southfield	MI		—		2,235		9,961		61		2,235		10,022		12,257		(221)	2015	35
0472	Sterling Heights	MI		—		920		7,326		—		920		7,326		8,246		(3,000)	2001	35
1259	Sterling Heights	MI		—		1,593		11,500		—		1,593		11,181		12,774		(2,586)	2006	40
2143	Champlin	MN		—		1,576		26,725		291		1,576		27,016		28,592		(6,061)	2012	50
1235	Des Peres	MO		—		4,361		20,664		—		4,361		20,046		24,407		(4,636)	2006	40
1236	Richmond Heights	MO		—		1,744		24,232		—		1,744		23,548		25,292		(5,445)	2006	40
0853	St. Louis	MO		—		2,500		20,343		—		2,500		19,853		22,353		(6,342)	2006	30
2081	St. Peters	MO		—		1,377		31,508		1,877		1,377		33,385		34,762		(3,055)	2012	45
2074	Oxford	MS		—		2,003		14,140		99		2,003		14,239		16,242		(1,247)	2012	45
0842	Great Falls	MT		—		500		5,683		—		500		5,423		5,923		(1,333)	2006	40
2163	Great Falls	MT		—		252		9,908		199		252		10,107		10,359		(853)	2012	45
0878	Charlotte	NC		—		710		9,559		—		710		9,159		9,869		(2,080)	2006	40
2374	Charlotte	NC		—		2,051		6,529		1,168		2,051		7,514		9,565		(1,125)	2010	45
1119	Concord	NC		—		601		7,615		166		612		7,546		8,158		(1,830)	2006	40
2126	Mooresville	NC		—		2,538		37,617		366		2,538		37,983		40,521		(3,101)	2012	50
1254	Raleigh	NC		—		1,191		11,532		369		1,191		11,616		12,807		(2,767)	2006	40
2127	Minot	ND		—		685		16,047		362		685		16,409		17,094		(1,420)	2012	45
2080	Kearney	NE		—		856		22,584		290		856		22,874		23,730		(1,952)	2012	45
2169	Lexington	NE		—		474		8,405		55		474		8,460		8,934		(996)	2012	40
2168	Mc Cook	NE		—		1,024		13,789		211		1,024		14,000		15,024		(1,639)	2012	40
2129	Seward	NE		—		792		18,276		260		792		18,536		19,328		(1,859)	2012	40
2119	Wayne	NE		—		1,005		13,953		279		1,005		14,232		15,237		(1,304)	2012	45
1599	Cherry Hill	NJ		—		2,420		11,042		1,454		2,420		11,946		14,366		(2,400)	2010	25
1239	Cresskill	NJ		—		4,684		53,927		229		4,684		53,170		57,854		(12,312)	2006	40
0734	Hillsborough	NJ		—		1,042		10,042		131		1,042		9,707		10,749		(2,564)	2005	40
1242	Madison	NJ		—		3,157		19,909		75		3,157		19,398		22,555		(4,508)	2006	40
0733	Manahawkin	NJ		—		921		9,927		318		921		9,779		10,700		(2,538)	2005	40
2359	Paramus	NJ		—		4,280		31,684		1,152		4,280		32,135		36,415		(7,396)	2006	45
1231	Saddle River	NJ		—		1,784		15,625		351		1,784		15,532		17,316		(3,695)	2006	40
0245	Voorhees Township	NJ		—		900		7,629		279		900		7,908		8,808		(2,819)	1998	45
0213	Albuquerque	NM		—		767		9,324		—		767		8,825		9,592		(3,643)	1996	45
2387	Albuquerque	NM		—		2,223		8,049		79		2,223		8,128		10,351		(813)	2012	45
2161	Rio Rancho	NM		—		1,154		13,726		121		1,154		13,847		15,001		(1,311)	2012	40
2121	Roswell	NM		—		618		7,038		539		618		7,577		8,195		(822)	2012	45

									Costs											Life on Which
									Capitalized		Gross Amount at Which Carried									Depreciation in
					Initial Cost to Company				Subsequent		As of December 31, 2015								Year	Latest Income
			Encumbrances at				Buildings and		to				Buildings and				Accumulated		Acquired/	Statement is
City		State	December 31, 2015		Land		Improvements		Acquisition		Land		Improvements		Total(1)		Depreciation		Constructed	Computed
2150	Roswell	NM		—		837		8,614		835		837		9,449		10,286		(1,036)	2012	45
0796	Las Vegas	NV		—		1,960		5,816		—		1,960		5,426		7,386		(1,413)	2005	40
2110	Las Vegas	NV		—		667		14,469		213		667		14,682		15,349		(1,525)	2012	45
1252	Brooklyn	NY		—		8,117		23,627		783		8,117		23,834		31,951		(5,907)	2006	40
1256	Brooklyn	NY		—		5,215		39,052		723		5,215		38,924		44,139		(9,037)	2006	40
2177	Clifton Park	NY		—		2,257		11,470		—		2,257		11,470		13,727		(1,122)	2012	50
2176	Greece	NY		—		666		9,569		—		666		9,569		10,235		(927)	2012	45
2178	Greece	NY		—		601		7,362		—		601		7,362		7,963		(727)	2012	45
2174	Orchard Park	NY		—		726		17,735		—		726		17,735		18,461		(1,813)	2012	45
2175	Orchard Park	NY		—		478		11,961		—		478		11,961		12,439		(1,207)	2012	45
2436	Bedford	OH		—		2,110		5,932		75		2,110		6,008		8,118		(143)	2015	35
2516	Centerville	OH		—		1,080		10,911		621		1,080		11,532		12,612		(247)	2015	35
2512	Cincinnati	OH		—		1,220		6,391		288		1,220		6,679		7,899		(173)	2015	35
0473	Cincinnati	OH		—		600		4,428		—		600		4,428		5,028		(1,814)	2001	35
0841	Columbus	OH		—		970		7,806		1,330		970		8,746		9,716		(2,042)	2006	40
0857	Fairborn	OH		—		810		8,311		42		810		8,053		8,863		(2,158)	2006	36
1147	Fairborn	OH		—		298		10,704		3,068		298		13,541		13,839		(3,007)	2006	40
1386	Marietta	OH		—		1,069		11,435		119		1,069		11,349		12,418		(3,732)	2007	40
1159	Willoughby	OH		—		1,177		9,982		1,029		1,194		10,589		11,783		(2,415)	2006	40
1253	Youngstown	OH		—		695		10,444		268		695		10,375		11,070		(2,410)	2006	40
2158	Broken Arrow	OK		—		1,115		18,852		194		1,115		19,046		20,161		(1,575)	2012	45
2122	Muskogee	OK		—		412		2,815		125		412		2,940		3,352		(375)	2012	45
2083	Oklahoma City	OK		—		2,116		28,007		1,550		2,116		29,557		31,673		(2,485)	2012	45
2372	Oklahoma City	OK		—		801		4,904		420		811		4,931		5,742		(1,225)	2006	45
2383	Oklahoma City	OK		—		1,345		3,943		147		1,345		4,090		5,435		(473)	2012	45
2070	Tahlequah	OK		—		256		5,648		286		256		5,934		6,190		(582)	2012	45
1160	Tulsa	OK		—		1,115		11,028		494		1,129		10,819		11,948		(2,572)	2006	40
2130	Ashland	OR		—		—		19,303		74		—		19,377		19,377		(1,721)	2012	45
2103	Eagle Point	OR		—		609		12,117		60		609		12,177		12,786		(1,044)	2012	45
2098	Eugene	OR		—		1,082		18,858		52		1,082		18,910		19,992		(1,582)	2012	50
2104	Eugene	OR		—		653		13,568		47		653		13,615		14,268		(1,159)	2012	45
2390	Grants Pass	OR		—		430		3,267		20		430		3,287		3,717		(365)	2012	45
2391	Grants Pass	OR		—		1,064		16,124		59		1,064		16,183		17,247		(1,266)	2012	45
2392	Grants Pass	OR		—		618		2,932		109		618		3,041		3,659		(499)	2012	45
2393	Grants Pass	OR		—		774		13,230		49		774		13,279		14,053		(1,113)	2012	45
2139	Gresham	OR		—		465		6,403		28		465		6,431		6,896		(560)	2012	50
2182	Hermiston Terrace	OR		2,657		582		8,087		—		582		8,087		8,669		(628)	2013	45
2131	Keizer	OR		2,747		551		6,454		—		551		6,454		7,005		(543)	2013	45
2140	Lebanon	OR		—		505		12,571		129		505		12,700		13,205		(1,113)	2012	50
2152	Mcminnville	OR		—		3,203		24,909		1,337		3,203		26,246		29,449		(3,362)	2012	45
2090	Monmouth	OR		—		490		1,278		9		490		1,287		1,777		(195)	2012	50
2106	Monmouth	OR		—		603		8,538		62		603		8,600		9,203		(819)	2012	45
2089	Newberg	OR		—		1,889		16,855		83		1,889		16,938		18,827		(1,418)	2012	50
2133	Portland	OR		—		1,615		12,030		35		1,615		12,065		13,680		(960)	2012	50
2151	Portland	OR		—		1,677		9,469		147		1,677		9,616		11,293		(984)	2012	45
2171	Portland	OR		—		—		16,087		78		—		16,165		16,165		(1,226)	2012	50
2050	Redmond	OR		—		1,229		21,921		544		1,229		22,465		23,694		(1,668)	2012	50
2084	Roseburg	OR		—		1,042		12,090		72		1,042		12,162		13,204		(1,155)	2012	45
2134	Scappoose	OR		—		353		1,258		11		353		1,269		1,622		(160)	2012	50
2153	Scappoose	OR		—		971		7,116		78		971		7,194		8,165		(782)	2012	45
2051	Springfield	OR		—		1,124		22,515		166		1,124		22,681		23,805		(1,809)	2012	50
2057	Springfield	OR		—		527		6,035		52		527		6,087		6,614		(603)	2012	45
2056	Stayton	OR		—		48		569		7		48		576		624		(95)	2012	45
2058	Stayton	OR		—		253		8,621		24		253		8,645		8,898		(821)	2012	45
2088	Tualatin	OR		—		—		6,326		157		—		6,483		6,483		(788)	2012	45
2180	Windfield Village	OR		3,216		580		9,817		—		580		9,817		10,397		(824)	2013	45
1163	Haverford	PA		—		16,461		108,816		7,894		16,461		115,098		131,559		(27,525)	2006	40
2063	Selinsgrove	PA		—		529		9,111		64		529		9,175		9,704		(967)	2012	45
1967	Cumberland	RI		—		2,630		19,050		770		2,630		19,473		22,103		(3,424)	2011	30
1959	East Providence	RI		14,462		1,890		13,989		1,278		1,890		15,014		16,904		(2,771)	2011	30
1960	Greenwich	RI		7,920		450		11,845		1,518		450		13,098		13,548		(2,498)	2011	30
2511	Johnston	RI		—		2,113		12,947		1,402		2,113		14,350		16,463		(313)	2015	35
1972	Smithfield	RI		—		1,250		17,816		653		1,250		18,134		19,384		(3,297)	2011	30
1973	South Kingstown	RI		—		1,390		12,551		630		1,390		12,918		14,308		(2,240)	2011	30
1975	Tiverton	RI		—		3,240		25,735		651		3,240		25,955		29,195		(4,433)	2011	30
1962	Warwick	RI		14,151		1,050		17,389		2,103		1,050		19,136		20,186		(3,660)	2011	30
1104	Aiken	SC		—		357		14,832		151		363		14,471		14,834		(3,425)	2006	40
1100	Charleston	SC		—		885		14,124		292		896		14,075		14,971		(3,373)	2006	40
1109	Columbia	SC		—		408		7,527		131		412		7,458		7,870		(1,782)	2006	40
2154	Florence	SC		—		255		4,052		557		255		4,609		4,864		(504)	2012	45
0306	Georgetown	SC		—		239		3,008		—		239		3,008		3,247		(1,103)	1998	45
0879	Greenville	SC		—		1,090		12,558		—		1,090		12,058		13,148		(2,738)	2006	40
1172	Greenville	SC		—		993		16,314		674		1,006		16,075		17,081		(3,751)	2006	40
2059	Greenville	SC		—		149		3,827		185		149		4,012		4,161		(457)	2012	45
2099	Hilton Head Island	SC		—		828		6,285		199		828		6,484		7,312		(721)	2012	45
2111	Hilton Head Island	SC		—		1,107		1,873		67		1,107		1,940		3,047		(273)	2012	45
2112	Hilton Head Island	SC		—		621		2,234		96		621		2,330		2,951		(306)	2012	45
0305	Lancaster	SC		—		84		2,982		—		84		2,982		3,066		(1,009)	1998	45
0880	Myrtle Beach	SC		—		900		10,913		—		900		10,513		11,413		(2,387)	2006	40
0312	Rock Hill	SC		—		203		2,671		—		203		2,671		2,874		(959)	1998	45
1113	Rock Hill	SC		—		695		4,119		322		795		4,126		4,921		(1,110)	2006	40
2076	Rock Hill	SC		—		919		14,741		148		919		14,889		15,808		(1,381)	2012	45
2093	Rock Hill	SC		—		503		4,281		629		503		4,910		5,413		(475)	2012	45
0313	Sumter	SC		—		196		2,623		—		196		2,623		2,819		(962)	1998	45
2067	West Columbia	SC		—		220		2,662		247		220		2,909		3,129		(370)	2012	45
2132	Cordova	TN		—		2,167		5,829		270		2,167		6,099		8,266		(649)	2012	45
2060	Franklin	TN		—		2,475		27,337		410		2,475		27,747		30,222		(2,355)	2012	45
2401	Germantown	TN		—		3,640		64,588		39		3,640		64,626		68,266		(1,204)	2015	40
2385	Hendersonville	TN		—		1,298		2,464		214		1,298		2,678		3,976		(381)	2012	45
2073	Kingsport	TN		—		1,113		8,625		88		1,113		8,713		9,826		(824)	2012	45
2381	Memphis	TN		—		1,315		9,787		107		1,315		9,894		11,209		(813)	2012	45
2439	Memphis	TN		—		1,320		1,679		122		1,320		1,801		3,121		(60)	2015	35
1003	Nashville	TN		10,696		812		16,983		2,524		812		18,759		19,571		(3,712)	2006	40
2094	Nashville	TN		—		1,444		14,436		305		1,444		14,741		16,185		(1,238)	2012	45
0860	Oak Ridge	TN		—		500		4,741		173		500		4,814		5,314		(1,238)	2006	35
0843	Abilene	TX		—		300		2,830		—		300		2,710		3,010		(650)	2006	39

									Costs											Life on Which
									Capitalized		Gross Amount at Which Carried									Depreciation in
					Initial Cost toCompany				Subsequent		As of December 31, 2015								Year	Latest Income
		State/	Encumbrances at				Buildings and		to				Buildings and				Accumulated		Acquired/	Statement is
City		Country	December 31, 2015		Land		Improvements		Acquisition		Land		Improvements		Total(1)		Depreciation		Constructed	Computed
2107	Amarillo	TX		—		1,315		26,838		184		1,315		27,022		28,337		(2,248)	2012	45
1004	Arlington	TX		13,685		2,002		19,110		—		2,002		18,729		20,731		(4,071)	2006	40
1116	Arlington	TX		—		2,494		12,192		249		2,540		11,873		14,413		(2,854)	2006	40
0511	Austin	TX		—		2,960		41,645		—		2,960		41,645		44,605		(17,005)	2002	30
2377	Austin	TX		—		2,860		17,359		1,543		2,973		17,716		20,689		(3,922)	2010	45
2531	Austin	TX		—		680		15,342		65		680		15,408		16,088		(278)	2015	35
0202	Beaumont	TX		—		145		10,404		—		145		10,020		10,165		(4,210)	1995	45
2075	Bedford	TX		—		1,204		26,845		1,029		1,204		27,874		29,078		(2,279)	2012	45
0844	Burleson	TX		—		1,050		5,242		—		1,050		4,902		5,952		(1,174)	2006	40
0848	Cedar Hill	TX		—		1,070		11,554		—		1,070		11,104		12,174		(2,660)	2006	40
1325	Cedar Hill	TX		—		440		7,494		—		440		6,974		7,414		(1,525)	2007	40
2396	Dallas	TX		—		2,120		8,986		128		2,120		9,114		11,234		(890)	2012	45
2438	Dallas	TX		—		2,550		11,551		207		2,550		11,757		14,307		(234)	2015	35
0513	Fort Worth	TX		—		2,830		50,832		—		2,830		50,832		53,662		(20,756)	2002	30
0506	Friendswood	TX		—		400		7,354		70		400		7,424		7,824		(2,212)	2002	45
2528	Graham	TX		—		680		8,513		518		680		9,031		9,711		(187)	2015	35
2529	Grand Prairie	TX		—		840		10,367		460		840		10,827		11,667		(221)	2015	35
0217	Houston	TX		—		835		7,195		54		835		7,249		8,084		(2,896)	1997	45
0491	Houston	TX		—		2,470		21,710		750		2,470		22,460		24,930		(9,022)	2002	35
1106	Houston	TX		—		1,008		15,333		183		1,020		15,098		16,118		(3,574)	2006	40
1955	Houston	TX		47,527		9,820		50,079		8,022		9,820		56,815		66,635		(10,247)	2011	30
1957	Houston	TX		31,212		8,170		37,285		3,905		8,170		40,368		48,538		(7,313)	2011	30
1958	Houston	TX		28,740		2,910		37,443		4,631		2,910		41,183		44,093		(7,546)	2011	30
2068	Houston	TX		—		985		18,824		502		985		19,326		20,311		(1,616)	2012	45
2402	Houston	TX		—		1,740		32,057		17		1,740		32,074		33,814		(753)	2015	40
0820	Irving	TX		—		710		9,949		1,455		710		10,814		11,524		(2,765)	2005	35
2394	Kerrville	TX		—		1,459		33,407		1,838		1,459		35,245		36,704		(3,076)	2012	45
1111	Kingswood	TX		—		1,877		25,372		247		1,961		24,491		26,452		(5,780)	2006	40
2389	Lubbock	TX		—		1,143		4,656		208		1,143		4,864		6,007		(542)	2012	45
0845	North Richland Hills	TX		—		520		5,117		—		520		4,807		5,327		(1,152)	2006	40
0846	North Richland Hills	TX		—		870		9,259		—		870		8,819		9,689		(2,415)	2006	35
2113	North Richland Hills	TX		—		909		11,337		103		909		11,440		12,349		(963)	2012	45
2530	North Richland Hills	TX		—		1,060		17,645		426		1,060		18,071		19,131		(344)	2015	35
1102	Plano	TX		—		494		12,518		145		505		12,247		12,752		(2,898)	2006	40
2379	Plano	TX		—		590		6,930		122		590		7,052		7,642		(695)	2012	45
2162	Portland	TX		—		1,233		14,001		281		1,233		14,282		15,515		(1,387)	2012	45
0494	San Antonio	TX		7,507		730		3,961		—		730		3,961		4,691		(1,210)	2002	45
2378	San Antonio	TX		—		2,860		17,030		1,295		2,880		17,232		20,112		(3,756)	2010	45
2532	San Antonio	TX		—		1,120		5,378		265		1,120		5,642		6,762		(153)	2015	35
2533	San Marcos	TX		—		680		17,570		306		680		17,876		18,556		(321)	2015	35
2116	Sherman	TX		—		209		3,492		75		209		3,567		3,776		(372)	2012	45
1954	Sugar Land	TX		30,738		3,420		36,846		3,920		3,420		40,096		43,516		(7,325)	2011	30
2510	Temple	TX		—		2,310		53,749		452		2,310		54,201		56,511		(975)	2015	35
1103	The Woodlands	TX		—		802		17,358		228		869		17,071		17,940		(4,051)	2006	40
2400	Victoria	TX		—		1,032		7,743		4		1,032		7,747		8,779		(37)	2015	30
0195	Victoria	TX		12,149		175		4,290		3,101		175		7,018		7,193		(2,352)	1995	43
0847	Waxahachie	TX		—		390		3,879		—		390		3,659		4,049		(877)	2006	40
1953	Webster	TX		29,369		4,780		30,854		3,466		4,780		33,661		38,441		(6,292)	2011	30
2534	Wichita Falls	TX		—		690		2,439		522		690		2,961		3,651		(86)	2015	35
2069	Cedar City	UT		—		437		8,706		744		437		9,450		9,887		(802)	2012	45
2368	Salt Lake City	UT		—		2,621		22,072		1,266		2,654		22,350		25,004		(5,068)	2006	45
2386	St. George	UT		—		683		9,436		776		683		10,212		10,895		(890)	2012	45
1244	Arlington	VA		—		3,833		7,076		330		3,833		7,170		11,003		(1,719)	2006	40
1245	Arlington	VA		—		7,278		37,407		513		7,278		37,035		44,313		(8,739)	2006	40
2360	Arlington	VA		—		4,320		19,567		1,505		4,320		20,494		24,814		(4,811)	2006	45
0881	Chesapeake	VA		—		1,090		12,444		—		1,090		11,944		13,034		(2,712)	2006	40
1247	Falls Church	VA		—		2,228		8,887		529		2,228		9,201		11,429		(2,195)	2006	40
1164	Fort Belvoir	VA		—		11,594		99,528		8,125		11,594		105,655		117,249		(25,636)	2006	40
1250	Leesburg	VA		—		607		3,236		125		607		3,216		3,823		(2,703)	2006	35
2361	Richmond	VA		—		2,110		11,469		1,956		2,110		12,999		15,109		(2,768)	2006	45
2514	Richmond	VA		—		3,015		54,373		141		3,015		54,513		57,528		(961)	2015	35
1246	Sterling	VA		—		2,360		22,932		640		2,360		23,060		25,420		(5,528)	2006	40
2077	Sterling	VA		—		1,046		15,788		160		1,046		15,948		16,994		(1,301)	2012	45
0225	Woodbridge	VA		—		950		6,983		1,122		950		8,104		9,054		(2,742)	1997	45
1173	Bellevue	WA		—		3,734		16,171		323		3,737		15,926		19,663		(3,733)	2006	40
2095	College Place	WA		—		758		8,051		90		758		8,141		8,899		(816)	2012	45
1240	Edmonds	WA		—		1,418		16,502		91		1,418		16,121		17,539		(3,753)	2006	40
2160	Kenmore	WA		—		3,284		16,641		75		3,284		16,716		20,000		(1,402)	2012	45
0797	Kirkland	WA		—		1,000		13,403		—		1,000		13,043		14,043		(3,397)	2005	40
1251	Mercer Island	WA		—		4,209		8,123		468		4,209		8,386		12,595		(2,124)	2006	40
2141	Moses Lake	WA		—		429		4,417		80		429		4,497		4,926		(609)	2012	50
2096	Poulsbo	WA		—		1,801		18,068		136		1,801		18,204		20,005		(1,644)	2012	45
2102	Richland	WA		—		249		5,067		89		249		5,156		5,405		(446)	2012	45
0794	Shoreline	WA		8,512		1,590		10,671		—		1,590		10,261		11,851		(2,672)	2005	40
0795	Shoreline	WA		—		4,030		26,421		—		4,030		25,651		29,681		(6,610)	2005	39
2097	Spokane	WA		—		903		5,363		71		903		5,434		6,337		(638)	2012	45
2061	Vancouver	WA		—		513		4,556		98		513		4,654		5,167		(515)	2012	45
2062	Vancouver	WA		—		1,498		9,997		91		1,498		10,088		11,586		(879)	2012	45
2052	Yakima	WA		—		557		5,897		31		557		5,928		6,485		(551)	2012	50
2078	Yakima	WA		—		353		5,668		11		353		5,679		6,032		(475)	2012	45
2114	Yakima	WA		—		721		8,872		1,203		721		10,075		10,796		(953)	2012	45
2382	Appleton	WI		—		182		12,581		159		182		12,740		12,922		(1,085)	2012	45
2170	Madison	WI		—		834		10,050		234		834		10,284		11,118		(996)	2012	40
2398	Stevens Point	WI		—		801		16,687		112		801		16,799		17,600		(1,229)	2012	45
2117	Bridgeport	WV		—		3,174		15,437		208		3,174		15,645		18,819		(1,784)	2012	45
2142	Cody	WY		—		708		9,926		155		708		10,081		10,789		(774)	2012	50
2148	Sheridan	WY		—		915		12,047		458		915		12,505		13,420		(1,119)	2012	45
United Kingdom
2210	Adlington	UK		—		597		7,747		104		597		7,851		8,448		(327)	2014	45
2211	Adlington	UK		—		619		4,706		—		620		4,706		5,326		(173)	2014	60
2216	Alderley Edge	UK		—		1,364		9,502		—		1,364		9,503		10,867		(316)	2014	60
2217	Alderley Edge	UK		—		1,327		7,441		—		1,327		7,441		8,768		(260)	2014	60
2340	Altrincham	UK		—		1,902		20,373		—		1,902		20,373		22,275		(229)	2015	45
2312	Armley	UK		—		487		2,910		—		487		2,910		3,397		(83)	2015	45
2313	Armley	UK		—		1,091		3,394		—		1,091		3,394		4,485		(100)	2015	45
2309	Ashton under Lyne	UK		—		708		4,912		—		708		4,912		5,620		(140)	2015	40
2206	Bangor	UK		—		420		2,249		—		420		2,249		2,669		(102)	2014	50
2207	Batley	UK		—		708		3,491		—		707		3,491		4,198		(219)	2014	45
2223	Catterick Garrison	UK		—		870		1,599		—		870		1,598		2,468		(142)	2014	50
2226	Christleton	UK		—		575		5,562		—		575		5,561		6,136		(161)	2014	50
2221	Disley	UK		—		376		1,766		—		376		1,766		2,142		(84)	2014	50
2227	Disley	UK		—		752		4,320		—		752		4,319		5,071		(128)	2014	60
2306	Dukinfield	UK		—		826		4,418		—		826		4,418		5,244		(123)	2015	40
2316	Dukinfield	UK		—		428		2,715		—		428		2,715		3,143		(70)	2015	50
2317	Dukinfield	UK		—		575		3,064		—		575		3,064		3,639		(92)	2015	40
2303	Eckington	UK		—		546		1,785		—		546		1,785		2,331		(63)	2015	40
2208	Elstead	UK		—		973		3,336		—		973		3,336		4,309		(167)	2014	45
2214	Gilroyd	UK		—		1,088		1,843		—		1,088		1,842		2,930		(155)	2014	50
2213	Ilkley	UK		—		1,040		2,744		—		1,039		2,745		3,784		(194)	2014	45
2209	Kingswood	UK		—		1,136		4,233		—		1,136		4,232		5,368		(195)	2014	45
2212	Kirk Hammerton	UK		—		478		611		—		478		611		1,089		(63)	2014	50

									Costs											Life on Which
									Capitalized		Gross Amount at Which Carried									Depreciation in
					Initial Cost to Company				Subsequent		As of December 31, 2015								Year	Latest Income
			Encumbrances at				Buildings and		to				Buildings and				Accumulated		Acquired/	Statement is
City		State	December 31, 2015		Land		Improvements		Acquisition		Land		Improvements		Total(1)		Depreciation		Constructed	Computed
2304	Knotty Ash	UK		—		708		2,479		—		708		2,479		3,187		(80)	2015	40
2310	Kirkby	UK		—		619		2,956		—		619		2,956		3,575		(90)	2015	40
2322	Laindon	UK		—		1,298		3,020		—		1,298		3,020		4,318		(98)	2015	40
2215	Leeds	UK		—		549		867		—		549		867		1,416		(95)	2014	45
2326	Limehouse	UK		—		2,419		3,453		—		2,419		3,453		5,872		(120)	2015	40
2321	Luton	UK		—		1,165		3,454		—		1,165		3,454		4,619		(100)	2015	40
2339	Manchester	UK		—		1,836		16,496		—		1,836		16,496		18,332		(189)	2015	45
2225	N Wadebridge	UK		—		324		6,712		—		324		6,712		7,036		(249)	2014	50
2305	Prescot	UK		—		693		2,596		—		693		2,596		3,289		(84)	2015	40
2219	Ripon	UK		—		206		987		—		206		987		1,193		(63)	2014	45
2314	Stalybridge	UK		—		767		3,932		—		767		3,932		4,699		(113)	2015	40
2218	Stapeley	UK		—		1,084		7,074		—		1,084		7,074		8,158		(273)	2014	60
2224	Stockton-on-Tees	UK		—		319		2,273		—		319		2,273		2,592		(116)	2014	50
2220	Thornton-Cleveleys	UK		—		995		4,977		—		995		4,977		5,972		(232)	2014	50
2228	Upper Wortley	UK		—		495		3,668		—		496		3,669		4,165		(134)	2014	50
2311	Wigan	UK		—		782		2,899		—		782		2,899		3,681		(109)	2015	40
2222	Woolmer Green	UK		—		907		6,606		—		907		6,606		7,513		(278)	2014	50
			$	743,711	$	704,737	$	6,046,900	$	294,271	$	706,373	$	6,243,621	$	6,949,994	$	(1,040,078)
Post-acute/skilled nursing
0002	Fort Collins	CO		—		499		1,913		1,454		499		3,114		3,613		(3,114)	1985	25
0018	Morrison	CO		—		1,429		5,464		4,019		1,429		8,758		10,187		(8,638)	1985	24
0280	Statesboro	GA		—		168		1,507		—		168		1,507		1,675		(962)	1992	25
0297	Rexburg	ID		—		200		5,310		—		200		5,057		5,257		(2,528)	1998	35
0378	Anderson	IN		—		500		4,724		10,341		1,166		13,998		15,164		(3,077)	1999	35
0384	Angola	IN		—		130		2,900		2,791		130		5,691		5,821		(1,730)	1999	35
0385	Fort Wayne	IN		—		200		4,150		2,667		200		6,817		7,017		(2,484)	1999	38
0386	Fort Wayne	IN		—		140		3,760		—		140		3,760		3,900		(1,737)	1999	35
0387	Huntington	IN		—		30		2,970		338		30		3,308		3,338		(1,439)	1999	35
0373	Kokomo	IN		—		480		4,622		4,663		480		9,022		9,502		(1,884)	1999	45
0454	New Albany	IN		—		230		6,595		—		230		6,595		6,825		(2,779)	2001	35
0484	Tell City	IN		—		95		6,210		1,299		95		7,509		7,604		(2,308)	2001	45
0688	Cynthiana	KY		—		192		4,875		—		192		4,875		5,067		(1,327)	2004	40
0298	Franklin	LA		—		405		3,424		—		405		3,424		3,829		(2,153)	1998	25
0299	Morgan City	LA		—		203		2,050		—		203		2,050		2,253		(1,289)	1998	25
0388	Las Vegas	NV		—		1,300		3,950		5,124		1,300		9,074		10,374		(2,462)	1999	35
0389	Las Vegas	NV		—		1,300		5,800		—		1,300		5,800		7,100		(2,679)	1999	35
0390	Fairborn	OH		—		250		4,850		—		250		4,850		5,100		(2,240)	1999	35
0391	Georgetown	OH		—		130		4,970		—		130		4,970		5,100		(2,296)	1999	35
0392	Port Clinton	OH		—		370		3,630		—		370		3,630		4,000		(1,677)	1999	35
0393	Springfield	OH		—		213		3,950		2,113		213		6,063		6,276		(2,194)	1999	35
0394	Toledo	OH		—		120		5,130		—		120		5,130		5,250		(2,370)	1999	35
0395	Versailles	OH		—		120		4,980		—		120		4,980		5,100		(2,300)	1999	35
0285	Fort Worth	TX		—		243		2,036		269		243		2,305		2,548		(1,464)	1998	25
0296	Ogden	UT		—		250		4,685		—		250		4,432		4,682		(2,194)	1998	35
0681	Fishersville	VA		—		751		7,734		—		751		7,220		7,971		(2,111)	2004	40
0682	Floyd	VA		—		309		2,263		—		309		1,893		2,202		(881)	2004	25
0689	Independence	VA		—		206		8,366		—		206		7,810		8,016		(2,262)	2004	40
0683	Newport News	VA		—		535		6,192		—		535		5,719		6,254		(1,672)	2004	40
0684	Roanoke	VA		—		586		7,159		—		586		6,696		7,282		(1,957)	2004	40
0685	Staunton	VA		—		422		8,681		—		422		8,136		8,558		(2,376)	2004	40
0686	Williamsburg	VA		—		699		4,886		—		699		4,464		5,163		(1,306)	2004	40
0690	Windsor	VA		—		319		7,543		—		319		7,018		7,337		(2,032)	2004	40
0687	Woodstock	VA		—		603		5,394		8		607		4,987		5,594		(1,459)	2004	40
United Kingdom
2335	Cardiff	UK		—		1,563		5,272		—		1,563		5,272		6,835		(157)	2015	45
2327	Croydon	UK		—		1,740		2,718		—		1,740		2,718		4,458		(87)	2015	45
2336	Birmingham	UK		—		737		2,671		—		737		2,671		3,408		(93)	2015	45
2320	Bishopbriggs	UK		—		988		4,540		—		988		4,540		5,528		(134)	2015	40
2323	Bonnyrigg	UK		—		1,032		6,799		—		1,032		6,799		7,831		(191)	2015	40
2318	Dumbarton	UK		—		1,003		4,169		—		1,003		4,169		5,172		(128)	2015	40
2333	Edinburgh	UK		—		4,940		26,304		—		4,940		26,304		31,244		(669)	2015	40
2328	Forfar	UK		—		929		6,757		—		929		6,757		7,686		(183)	2015	40
2330	Glasgow	UK		—		2,020		7,243		—		2,020		7,243		9,263		(224)	2015	40
2307	Hyde	UK		—		1,519		5,607		—		1,519		5,607		7,126		(173)	2015	45
2324	Lewisham	UK		—		2,094		7,752		—		2,094		7,752		9,846		(215)	2015	40
2332	Linlithgow	UK		—		1,578		8,102		—		1,578		8,102		9,680		(222)	2015	40
2331	Paisley	UK		—		1,342		4,354		—		1,342		4,354		5,696		(131)	2015	40
2308	Prescot	UK		—		590		2,108		—		590		2,108		2,698		(74)	2015	40
2319	Sheffield	UK		—		811		2,948		—		811		2,948		3,759		(90)	2015	40
2315	Stalybridge	UK		—		605		2,056		—		605		2,056		2,661		(63)	2015	50
2325	Stirling	UK		—		988		5,372		—		988		5,372		6,360		(145)	2015	40
2329	Stirling	UK		—		1,209		4,405		—		1,209		4,405		5,614		(137)	2015	40
2337	Wigan	UK		—		590		1,983		—		590		1,983		2,573		(72)	2015	40
2338	Wigan	UK		—		516		4,129		—		516		4,129		4,645		(117)	2015	40
2334	Wotton under Edge	UK		—		693		2,714		—		693		2,714		3,407		(96)	2015	40
			$	—	$	41,114	$	280,676	$	35,086	$	41,784	$	308,665	$	350,449	$	(78,782)

									Costs											Life on Which
									Capitalized		Gross Amount at Which Carried									Depreciation in
					Initial Cost to Company				Subsequent		As of December 31, 2015								Year	Latest Income
			Encumbrances at				Buildings and		to				Buildings and				Accumulated		Acquired/	Statement is
City		State	December 31, 2015		Land		Improvements		Acquisition		Land		Improvements		Total(1)		Depreciation		Constructed	Computed
Life science
1482	Brisbane	CA		—		50,989		1,789		39,456		50,989		41,242		92,231		—	2007	**
1522	Carlsbad	CA		—		23,475		—		2,826		23,475		2,826		26,301		—	2007	**
1401	Hayward	CA		—		900		7,100		915		900		8,015		8,915		(2,012)	2007	40
1402	Hayward	CA		—		1,500		6,400		3,682		1,719		9,863		11,582		(3,076)	2007	40
1403	Hayward	CA		—		1,900		7,100		1,358		1,900		8,205		10,105		(1,662)	2007	40
1404	Hayward	CA		—		2,200		17,200		12		2,200		17,212		19,412		(3,623)	2007	40
1405	Hayward	CA		—		1,000		3,200		7,478		1,000		10,678		11,678		(4,697)	2007	40
1549	Hayward	CA		—		1,006		4,259		2,744		1,055		6,835		7,890		(2,489)	2007	29
1550	Hayward	CA		—		677		2,761		5,570		710		8,243		8,953		(3,535)	2007	29
1551	Hayward	CA		—		661		1,995		4,258		693		6,221		6,914		(2,310)	2007	29
1552	Hayward	CA		—		1,187		7,139		1,346		1,222		8,148		9,370		(2,446)	2007	29
1553	Hayward	CA		—		1,189		9,465		3,982		1,225		13,411		14,636		(3,174)	2007	29
1554	Hayward	CA		—		1,246		5,179		1,867		1,283		6,525		7,808		(2,475)	2007	29
1555	Hayward	CA		—		1,521		13,546		5,913		1,566		19,414		20,980		(4,950)	2007	29
1556	Hayward	CA		—		1,212		5,120		3,049		1,249		7,795		9,044		(3,466)	2007	29
1424	La Jolla	CA		—		9,600		25,283		7,356		9,719		30,596		40,315		(6,370)	2007	40
1425	La Jolla	CA		—		6,200		19,883		125		6,276		19,931		26,207		(4,247)	2007	40
1426	La Jolla	CA		—		7,200		12,412		4,784		7,291		17,105		24,396		(6,555)	2007	27
1427	La Jolla	CA		—		8,700		16,983		4,342		8,746		20,795		29,541		(5,513)	2007	30
1949	La Jolla	CA		—		2,686		11,045		608		2,686		11,323		14,009		(1,889)	2011	30
2229	La Jolla	CA		—		8,753		32,528		2,614		8,753		35,143		43,896		(1,451)	2014	35
1488	Mountain View	CA		—		7,300		25,410		1,901		7,567		27,044		34,611		(5,975)	2007	40
1489	Mountain View	CA		—		6,500		22,800		1,866		6,500		24,666		31,166		(5,501)	2007	40
1490	Mountain View	CA		—		4,800		9,500		442		4,800		9,942		14,742		(2,207)	2007	40
1491	Mountain View	CA		—		4,200		8,400		1,249		4,209		8,998		13,207		(1,951)	2007	40
1492	Mountain View	CA		—		3,600		9,700		730		3,600		9,703		13,303		(2,042)	2007	40
1493	Mountain View	CA		—		7,500		16,300		1,904		7,500		17,603		25,103		(3,891)	2007	40
1494	Mountain View	CA		—		9,800		24,000		203		9,800		24,203		34,003		(5,136)	2007	40
1495	Mountain View	CA		—		6,900		17,800		3,245		6,900		21,045		27,945		(4,793)	2007	40
1496	Mountain View	CA		—		7,000		17,000		6,364		7,000		23,364		30,364		(9,132)	2007	40
1497	Mountain View	CA		—		14,100		31,002		10,111		14,100		41,113		55,213		(15,042)	2007	40
1498	Mountain View	CA		—		7,100		25,800		8,101		7,100		33,901		41,001		(11,688)	2013	40
2017	Mountain View	CA		—		—		20,350		1,007		—		21,255		21,255		(2,262)	2004	40
1470	Poway	CA		—		5,826		12,200		6,046		5,826		18,246		24,072		(7,570)	2007	40
1471	Poway	CA		—		5,978		14,200		4,253		5,978		18,453		24,431		(6,304)	2007	40
1472	Poway	CA		—		8,654		—		11,934		8,654		11,934		20,588		(474)	2007	40
1473	Poway	CA		—		17,146		2,405		2,236		17,146		4,641		21,787		—	2007	**
1477	Poway	CA		—		29,943		2,475		17,868		29,943		20,343		50,286		—	2007	**
1478	Poway	CA		—		6,700		14,400		6,145		6,700		14,400		21,100		(3,030)	2007	40
1499	Redwood City	CA		—		3,400		5,500		2,265		3,407		7,226		10,633		(1,864)	2007	40
1500	Redwood City	CA		—		2,500		4,100		1,220		2,506		4,563		7,069		(1,209)	2007	40
1501	Redwood City	CA		—		3,600		4,600		860		3,607		5,453		9,060		(1,714)	2007	30
1502	Redwood City	CA		—		3,100		5,100		843		3,107		5,690		8,797		(1,530)	2007	31
1503	Redwood City	CA		—		4,800		17,300		3,298		4,818		20,581		25,399		(4,790)	2007	31
1504	Redwood City	CA		—		5,400		15,500		949		5,418		16,431		21,849		(3,414)	2007	31
1505	Redwood City	CA		—		3,000		3,500		869		3,006		4,363		7,369		(1,457)	2007	40
1506	Redwood City	CA		—		6,000		14,300		3,871		6,018		17,545		23,563		(3,626)	2007	40
1507	Redwood City	CA		—		1,900		12,800		13,559		1,912		26,347		28,259		(3,737)	2007	39
1508	Redwood City	CA		—		2,700		11,300		12,120		2,712		23,409		26,121		(3,503)	2007	39
1509	Redwood City	CA		—		2,700		10,900		9,122		2,712		19,540		22,252		(4,606)	2007	40
1510	Redwood City	CA		—		2,200		12,000		5,418		2,212		17,407		19,619		(5,412)	2007	38
1511	Redwood City	CA		—		2,600		9,300		1,822		2,612		10,555		13,167		(2,143)	2007	26
1512	Redwood City	CA		—		3,300		18,000		12,336		3,300		30,336		33,636		(4,836)	2007	40
1513	Redwood City	CA		—		3,300		17,900		14,629		3,300		32,529		35,829		(4,788)	2007	40
0679	San Diego	CA		—		7,872		34,617		18,167		8,272		51,638		59,910		(16,156)	2002	39
0837	San Diego	CA		—		4,630		2,029		8,967		4,630		10,996		15,626		(4,400)	2006	31
0838	San Diego	CA		—		2,040		902		4,975		2,040		5,878		7,918		(1,446)	2006	40
0839	San Diego	CA		—		3,940		3,184		4,860		3,951		4,813		8,764		(1,076)	2006	40
0840	San Diego	CA		—		5,690		4,579		711		5,703		4,851		10,554		(1,219)	2006	40
1418	San Diego	CA		—		11,700		31,243		6,403		11,700		37,647		49,347		(9,954)	2007	40
1420	San Diego	CA		—		6,524		—		4,341		6,524		4,340		10,864		—	2007	**
1421	San Diego	CA		—		7,000		33,779		683		7,000		34,462		41,462		(7,108)	2007	40
1422	San Diego	CA		—		7,179		3,687		934		7,184		4,615		11,799		(1,248)	2007	30
1423	San Diego	CA		—		8,400		33,144		18		8,400		33,162		41,562		(6,976)	2007	40
1514	San Diego	CA		—		5,200		—		—		5,200		—		5,200		—	2007	**
1558	San Diego	CA		—		7,740		22,654		2,174		7,888		24,530		32,418		(5,586)	2007	38
1947	San Diego	CA		11,528		2,581		10,534		3,207		2,581		13,741		16,322		(1,840)	2011	30
1948	San Diego	CA		23,797		5,879		25,305		2,417		5,879		27,718		33,597		(4,942)	2011	30
1950	San Diego	CA		802		884		2,796		—		884		2,796		3,680		(466)	2011	30
2197	San Diego	CA		—		7,621		3,913		3,750		7,626		7,657		15,283		(2,932)	2007	33

									Costs											Life on Which
									Capitalized		Gross Amount at Which Carried									Depreciation in
					Initial Cost to Company				Subsequent		As of December 31, 2015								Year	Latest Income
			Encumbrances at				Buildings and		to				Buildings and				Accumulated		Acquired/	Statement is
City		State	December 31, 2015		Land		Improvements		Acquisition		Land		Improvements		Total(1)		Depreciation		Constructed	Computed
1407	South San Francisco	CA		—		28,600		48,700		14,739		28,600		59,820		88,420		(13,782)	2007	35
1408	South San Francisco	CA		—		9,000		17,800		1,076		9,000		18,877		27,877		(4,273)	2007	40
1409	South San Francisco	CA		—		18,000		38,043		4,235		18,000		42,279		60,279		(8,071)	2007	40
1410	South San Francisco	CA		—		4,900		18,100		157		4,900		18,257		23,157		(3,857)	2007	40
1411	South San Francisco	CA		—		8,000		27,700		313		8,000		28,013		36,013		(5,872)	2007	40
1412	South San Francisco	CA		—		10,100		22,521		2,011		10,100		24,532		34,632		(4,905)	2007	40
1413	South San Francisco	CA		—		8,000		28,299		252		8,000		28,550		36,550		(5,986)	2007	40
1414	South San Francisco	CA		—		3,700		20,800		1,257		3,700		22,056		25,756		(4,518)	2007	40
1430	South San Francisco	CA		—		10,700		23,621		1,233		10,700		24,854		35,554		(5,050)	2007	40
1431	South San Francisco	CA		—		7,000		15,500		195		7,000		15,695		22,695		(3,283)	2007	40
1435	South San Francisco	CA		—		13,800		42,500		33,050		13,800		75,550		89,350		(13,906)	2008	40
1436	South San Francisco	CA		—		14,500		45,300		34,087		14,500		79,387		93,887		(14,547)	2008	40
1437	South San Francisco	CA		—		9,400		24,800		45,116		9,400		69,917		79,317		(8,763)	2008	40
1439	South San Francisco	CA		—		11,900		68,848		112		11,900		68,960		80,860		(14,498)	2007	40
1440	South San Francisco	CA		—		10,000		57,954		—		10,000		57,954		67,954		(12,195)	2007	40
1441	South San Francisco	CA		—		9,300		43,549		—		9,300		43,549		52,849		(9,163)	2007	40
1442	South San Francisco	CA		—		11,000		47,289		81		11,000		47,370		58,370		(9,993)	2007	40
1443	South San Francisco	CA		—		13,200		60,932		1,158		13,200		62,090		75,290		(12,381)	2007	40
1444	South San Francisco	CA		—		10,500		33,776		352		10,500		34,127		44,627		(7,237)	2007	40
1445	South San Francisco	CA		—		10,600		34,083		—		10,600		34,083		44,683		(7,172)	2007	40
1448	South San Francisco	CA		—		14,100		71,344		1,051		14,100		72,395		86,495		(15,022)	2007	40
1449	South San Francisco	CA		—		12,800		63,600		472		12,800		64,072		76,872		(13,572)	2007	40
1450	South San Francisco	CA		—		11,200		79,222		20		11,200		79,242		90,442		(16,673)	2007	40
1451	South San Francisco	CA		—		7,200		50,856		1,075		7,200		51,931		59,131		(10,713)	2007	40
1452	South San Francisco	CA		—		14,400		101,362		(115)		14,400		101,247		115,647		(21,294)	2007	40
1454	South San Francisco	CA		—		11,100		47,738		9,369		11,100		57,108		68,208		(14,671)	2008	40
1455	South San Francisco	CA		—		9,700		41,937		5,958		10,261		47,334		57,595		(11,525)	2008	40
1456	South San Francisco	CA		—		6,300		22,900		8,196		6,300		31,096		37,396		(8,150)	2008	40
1458	South San Francisco	CA		—		10,900		20,900		8,264		10,909		25,125		36,034		(5,461)	2007	40
1459	South San Francisco	CA		—		3,600		100		208		3,600		309		3,909		(94)	2007	**
1460	South San Francisco	CA		—		2,300		100		108		2,300		208		2,508		(100)	2007	**
1461	South San Francisco	CA		—		3,900		200		202		3,900		402		4,302		(200)	2007	**
1462	South San Francisco	CA		—		7,117		600		4,911		7,117		5,163		12,280		(1,543)	2007	40
1463	South San Francisco	CA		—		10,381		2,300		17,849		10,381		20,149		30,530		(3,573)	2007	40
1464	South San Francisco	CA		—		7,403		700		11,638		7,403		12,338		19,741		(3,149)	2007	40
1468	South San Francisco	CA		—		10,100		24,013		4,774		10,100		26,642		36,742		(5,720)	2007	40
1480	South San Francisco	CA		—		32,210		3,110		11,196		32,210		14,306		46,516		—	2007	**
1559	South San Francisco	CA		—		5,666		5,773		12,958		5,695		18,633		24,328		(6,467)	2007	5
1560	South San Francisco	CA		—		1,204		1,293		454		1,210		1,726		2,936		(1,329)	2007	5
1983	South San Francisco	CA		—		16,493		—		76,433		16,493		76,433		92,926		—	2011	*
1985	South San Francisco	CA		—		13,416		—		7,277		13,416		7,277		20,693		—	2011	**
1987	South San Francisco	CA		—		27,833		—		7,429		27,833		7,429		35,262		—	2011	**
2553	South San Francisco	CA		—		2,897		8,691		—		2,897		8,691		11,588		(21)	2015	35
2554	South San Francisco	CA		—		995		2,754		—		995		2,754		3,749		(7)	2015	35
2555	South San Francisco	CA		—		2,202		10,776		—		2,202		10,776		12,978		(26)	2015	35
2556	South San Francisco	CA		—		2,962		15,108		—		2,962		15,108		18,070		(36)	2015	35
2557	South San Francisco	CA		—		2,453		13,063		—		2,453		13,063		15,516		(31)	2015	35
2558	South San Francisco	CA		—		1,163		5,925		—		1,163		5,925		7,088		(14)	2015	35
1604	Cambridge	MA		—		8,389		10,630		29,587		8,389		40,201		48,590		(4,940)	2010	30
2011	Durham	NC		7,389		448		6,152		21,379		448		27,494		27,942		(2,418)	2011	30
2030	Durham	NC		—		1,920		5,661		33,871		1,920		39,533		41,453		(3,262)	2012	30
9999	Denton	TX		—		100		—		—		100		—		100		—	2015	**
0461	Salt Lake City	UT		—		500		8,548		—		500		8,548		9,048		(3,678)	2001	33
0462	Salt Lake City	UT		—		890		15,623		—		890		15,624		16,514		(5,917)	2001	38
0463	Salt Lake City	UT		—		190		9,875		—		190		9,875		10,065		(3,213)	2001	43
0464	Salt Lake City	UT		—		630		6,921		62		630		6,984		7,614		(2,718)	2001	38
0465	Salt Lake City	UT		—		125		6,368		68		125		6,436		6,561		(2,083)	2001	43
0466	Salt Lake City	UT		—		—		14,614		7		—		14,621		14,621		(4,217)	2001	43
0507	Salt Lake City	UT		—		280		4,345		226		280		4,572		4,852		(1,425)	2002	43
0537	Salt Lake City	UT		—		—		6,517		—		—		6,517		6,517		(2,092)	2002	35
0799	Salt Lake City	UT		—		—		14,600		90		—		14,690		14,690		(3,241)	2005	40
1593	Salt Lake City	UT		—		—		23,998		—		—		23,998		23,998		(3,939)	2010	33
			$	43,516	$	919,896	$	2,306,927	$	749,119	$	922,361	$	3,023,094	$	3,945,455	$	(618,902)
Medical office
0638	Anchorage	AK		—		1,456		10,650		10,250		1,456		20,847		22,303		(3,793)	2006	**
0520	Chandler	AZ		—		3,669		13,503		2,368		3,669		15,581		19,250		(4,785)	2002	40
2040	Mesa	AZ		—		—		17,314		483		—		17,780		17,780		(1,538)	2012	45
0468	Oro Valley	AZ		—		1,050		6,774		918		1,050		7,117		8,167		(2,389)	2001	43
0356	Phoenix	AZ		—		780		3,199		1,160		780		3,633		4,413		(1,756)	1999	32
0470	Phoenix	AZ		—		280		877		104		280		970		1,250		(307)	2001	43
1066	Scottsdale	AZ		—		5,115		14,064		3,234		4,791		16,972		21,763		(4,344)	2006	40
2021	Scottsdale	AZ		—		—		12,312		1,196		—		13,461		13,461		(2,208)	2012	25
2022	Scottsdale	AZ		—		—		9,179		519		—		9,699		9,699		(1,853)	2012	25
2023	Scottsdale	AZ		—		—		6,398		636		—		7,034		7,034		(1,094)	2012	25
2024	Scottsdale	AZ		—		—		9,522		570		—		10,093		10,093		(1,472)	2012	25
2025	Scottsdale	AZ		—		—		4,102		994		—		5,089		5,089		(958)	2012	25
2026	Scottsdale	AZ		—		—		3,655		554		—		4,179		4,179		(598)	2012	25
2027	Scottsdale	AZ		—		—		7,168		862		—		8,030		8,030		(1,245)	2012	25
2028	Scottsdale	AZ		—		—		6,659		840		—		7,499		7,499		(1,126)	2012	25
0453	Tucson	AZ		—		215		6,318		1,189		326		6,977		7,303		(2,896)	2000	35
0556	Tucson	AZ		—		215		3,940		1,084		267		4,544		4,811		(1,174)	2003	43
1041	Brentwood	CA		—		—		30,864		2,640		187		33,121		33,308		(8,091)	2006	40
1200	Encino	CA		—		6,151		10,438		3,206		6,534		12,746		19,280		(4,013)	2006	33
0436	Murietta	CA		—		400		9,266		2,800		578		10,883		11,461		(4,869)	1999	33
0239	Poway	CA		—		2,700		10,839		2,665		2,872		11,684		14,556		(5,928)	1997	35

									Costs											Life on Which
									Capitalized		Gross Amount at Which Carried									Depreciation in
					Initial Cost to Company				Subsequent		As of December 31, 2015								Year	Latest Income
			Encumbrances at				Buildings and		to				Buildings and				Accumulated		Acquired/	Statement is
City		State	December 31, 2015		Land		Improvements		Acquisition		Land		Improvements		Total(1)		Depreciation		Constructed	Computed
0318	Sacramento	CA		—		2,860		21,850		35,287		2,860		56,290		59,150		(6,279)	1998	*
2404	Sacramento	CA		—		1,268		5,109		130		1,268		5,239		6,507		(137)	2015	30
0234	San Diego	CA		—		2,848		5,879		1,450		3,009		5,214		8,223		(2,975)	1997	21
0235	San Diego	CA		—		2,863		8,913		2,913		3,068		9,450		12,518		(5,672)	1997	21
0236	San Diego	CA		—		4,619		19,370		4,023		4,711		17,954		22,665		(10,161)	1997	21
0421	San Diego	CA		—		2,910		17,362		14,088		2,915		31,444		34,359		(6,901)	1999	22
0564	San Jose	CA		2,762		1,935		1,728		2,136		1,935		3,203		5,138		(1,226)	2003	37
0565	San Jose	CA		6,432		1,460		7,672		527		1,460		8,192		9,652		(2,955)	2003	37
0659	Los Gatos	CA		—		1,718		3,124		622		1,758		3,598		5,356		(1,043)	2000	34
1209	Sherman Oaks	CA		—		7,472		10,075		4,233		7,931		13,523		21,454		(5,736)	2006	22
0439	Valencia	CA		—		2,300		6,967		2,534		2,390		7,861		10,251		(3,209)	1999	35
1211	Valencia	CA		—		1,344		7,507		630		1,383		7,932		9,315		(1,955)	2006	40
0440	West Hills	CA		—		2,100		11,595		2,987		2,156		11,548		13,704		(5,121)	1999	32
0728	Aurora	CO		—		—		8,764		2,223		—		10,986		10,986		(4,746)	2005	39
1196	Aurora	CO		—		210		12,362		1,513		210		13,635		13,845		(3,513)	2006	40
1197	Aurora	CO		—		200		8,414		978		200		9,268		9,468		(2,892)	2006	33
0882	Colorado Springs	CO		—		—		12,933		10,602		—		22,864		22,864		(6,053)	2006	40
0814	Conifer	CO		—		—		1,485		35		13		1,508		1,521		(398)	2005	40
1199	Denver	CO		—		493		7,897		1,865		622		9,400		10,022		(2,581)	2006	33
0808	Englewood	CO		—		—		8,616		7,829		11		15,671		15,682		(4,243)	2005	35
0809	Englewood	CO		—		—		8,449		3,444		—		11,255		11,255		(3,744)	2005	35
0810	Englewood	CO		—		—		8,040		4,792		—		12,411		12,411		(4,745)	2005	35
0811	Englewood	CO		—		—		8,472		2,551		—		10,573		10,573		(3,627)	2005	35
0812	Littleton	CO		—		—		4,562		2,200		257		6,145		6,402		(2,110)	2005	35
0813	Littleton	CO		—		—		4,926		1,796		106		6,144		6,250		(1,693)	2005	38
0570	Lone Tree	CO		—		—		—		19,241		—		18,822		18,822		(5,552)	2003	39
0666	Lone Tree	CO		—		—		23,274		2,382		—		25,328		25,328		(6,597)	2000	37
2233	Lone Tree	CO		—		—		—		23,315		—		23,316		23,316		—	2014	*
1076	Parker	CO		—		—		13,388		640		8		13,946		13,954		(3,471)	2006	40
0510	Thornton	CO		—		236		10,206		3,089		454		13,054		13,508		(4,325)	2002	43
0433	Atlantis	FL		—		—		5,651		836		33		5,596		5,629		(2,556)	1999	35
0434	Atlantis	FL		—		—		2,027		263		5		2,139		2,144		(982)	1999	34
0435	Atlantis	FL		—		—		2,000		738		—		2,484		2,484		(1,179)	1999	32
0602	Atlantis	FL		—		455		2,231		344		455		2,371		2,826		(725)	2000	34
0604	Englewood	FL		—		170		1,134		400		198		1,400		1,598		(463)	2000	34
0609	Kissimmee	FL		—		788		174		226		788		311		1,099		(104)	2000	34
0610	Kissimmee	FL		—		481		347		731		486		1,032		1,518		(339)	2000	34
0671	Kissimmee	FL		—		—		7,574		2,065		—		8,450		8,450		(2,349)	2000	36
0603	Lake Worth	FL		—		1,507		2,894		1,807		1,507		4,569		6,076		(1,450)	2000	34
0612	Margate	FL		—		1,553		6,898		1,275		1,553		8,058		9,611		(2,216)	2000	34
0613	Miami	FL		—		4,392		11,841		3,325		4,392		14,245		18,637		(4,505)	2000	34
2202	Miami	FL		—		—		13,123		2,760		—		15,883		15,883		(996)	2014	25
2203	Miami	FL		—		—		8,877		1,184		—		10,061		10,061		(569)	2014	30
1067	Milton	FL		—		—		8,566		248		—		8,795		8,795		(2,077)	2006	40
0563	Orlando	FL		—		2,144		5,136		4,664		2,343		8,570		10,913		(3,282)	2003	37
0833	Pace	FL		—		—		10,309		2,595		26		10,584		10,610		(2,321)	2006	44
0834	Pensacola	FL		—		—		11,166		478		—		11,644		11,644		(2,724)	2006	45
0614	Plantation	FL		—		969		3,241		1,299		1,017		4,144		5,161		(1,287)	2000	34
0673	Plantation	FL		—		1,091		7,176		902		1,091		7,744		8,835		(2,006)	2002	36
0701	St. Petersburg	FL		—		—		10,141		9,016		—		18,532		18,532		(4,359)	2006	ɫ
1210	Tampa	FL		—		1,967		6,602		5,061		2,142		10,834		12,976		(4,758)	2006	25
1058	Mccaysville	GA		—		—		3,231		18		—		3,249		3,249		(761)	2006	40
1065	Marion	IL		—		99		11,484		389		100		11,854		11,954		(2,920)	2006	40
1057	Newburgh	IN		—		—		14,019		4,080		—		18,093		18,093		(3,910)	2006	40
2039	Kansas City	KS		1,722		440		2,173		9		448		2,173		2,621		(232)	2012	35
2043	Overland Park	KS		—		—		7,668		294		—		7,962		7,962		(764)	2012	40
0483	Wichita	KS		—		530		3,341		460		530		3,801		4,331		(1,389)	2001	45
1064	Lexington	KY		—		—		12,726		1,164		—		13,777		13,777		(3,663)	2006	40
0735	Louisville	KY		—		936		8,426		4,551		936		11,435		12,371		(8,935)	2005	11
0737	Louisville	KY		—		835		27,627		4,144		877		30,240		31,117		(9,139)	2005	37
0738	Louisville	KY		4,743		780		8,582		4,561		818		11,856		12,674		(6,339)	2005	18
0739	Louisville	KY		7,667		826		13,814		1,712		832		14,622		15,454		(4,476)	2005	38
0740	Louisville	KY		8,301		2,983		13,171		4,065		2,991		16,612		19,603		(6,130)	2005	30
1944	Louisville	KY		—		788		2,414		—		788		2,414		3,202		(483)	2010	25
1945	Louisville	KY		24,644		3,255		28,644		665		3,255		29,008		32,263		(5,127)	2010	30
1946	Louisville	KY		—		430		6,125		53		430		6,178		6,608		(1,031)	2010	30
2237	Louisville	KY		9,901		1,519		15,386		495		1,542		15,857		17,399		(671)	2014	25
2238	Louisville	KY		9,901		1,334		12,172		378		1,423		12,461		13,884		(548)	2014	25
2239	Louisville	KY		12,557		1,644		10,832		649		1,661		11,465		13,126		(476)	2014	25
1324	Haverhill	MA		—		800		8,537		1,911		869		10,122		10,991		(3,066)	2007	40
1213	Ellicott City	MD		—		1,115		3,206		2,554		1,222		5,432		6,654		(1,853)	2006	34
0361	GlenBurnie	MD		—		670		5,085		—		670		5,085		5,755		(2,421)	1999	35
1052	Towson	MD		—		—		14,233		3,611		—		15,800		15,800		(5,491)	2006	40
0240	Minneapolis	MN		—		117		13,213		1,734		117		14,463		14,580		(7,380)	1997	32
0300	Minneapolis	MN		—		160		10,131		3,251		160		12,437		12,597		(6,038)	1997	35
2032	Independence	MO		31,274		—		48,025		572		—		48,596		48,596		(3,795)	2012	45
1078	Flowood	MS		—		—		8,413		729		—		9,115		9,115		(2,422)	2006	40
1059	Jackson	MS		—		—		8,868		73		—		8,941		8,941		(2,071)	2006	40
1060	Jackson	MS		—		—		7,187		2,160		—		9,347		9,347		(2,639)	2006	40
1068	Omaha	NE		—		—		16,243		932		17		17,097		17,114		(4,139)	2006	40
0729	Albuquerque	NM		—		—		5,380		388		—		5,768		5,768		(1,713)	2005	39
0348	Elko	NV		—		55		2,637		12		55		2,649		2,704		(1,279)	1999	35
0571	Las Vegas	NV		—		—		—		18,729		—		17,638		17,638		(5,320)	2003	40
0660	Las Vegas	NV		—		1,121		4,363		4,611		1,302		7,363		8,665		(2,719)	2000	34
0661	Las Vegas	NV		—		2,305		4,829		4,513		2,447		8,362		10,809		(2,918)	2000	34
0662	Las Vegas	NV		—		3,480		12,305		4,637		3,480		15,258		18,738		(4,563)	2000	34
0663	Las Vegas	NV		—		1,717		3,597		3,273		1,724		5,789		7,513		(1,816)	2000	34
0664	Las Vegas	NV		—		1,172		—		175		1,172		175		1,347		—	2000	*
0691	Las Vegas	NV		—		3,244		18,339		7,095		3,273		24,277		27,550		(7,800)	2004	30
2037	Mesquite	NV		2,908		—		5,559		57		—		5,616		5,616		(534)	2012	40
1285	Cleveland	OH		—		823		2,726		925		853		2,917		3,770		(977)	2006	40
0400	Harrison	OH		—		—		4,561		300		—		4,861		4,861		(2,257)	1999	35
1054	Durant	OK		—		619		9,256		1,636		659		10,833		11,492		(2,454)	2006	40
0817	Owasso	OK		—		—		6,582		808		—		7,275		7,275		(3,262)	2005	40
0404	Roseburg	OR		—		—		5,707		—		—		5,707		5,707		(2,570)	1999	35
2234	Philadelphia	PA		—		24,264		99,904		2,204		24,264		102,108		126,372		(3,968)	2014	35
2403	Philadelphia	PA		—		26,063		97,646		3,405		26,084		101,031		127,115		(2,685)	2015	25
0252	Clarksville	TN		—		765		4,184		60		765		4,244		5,009		(2,130)	1998	35
0624	Hendersonville	TN		—		256		1,530		1,483		256		2,656		2,912		(789)	2000	34
0559	Hermitage	TN		—		830		5,036		5,698		830		10,136		10,966		(3,621)	2003	35
0561	Hermitage	TN		—		596		9,698		4,377		596		13,454		14,050		(5,123)	2003	37
0562	Hermitage	TN		—		317		6,528		2,589		317		8,538		8,855		(3,168)	2003	37
0154	Knoxville	TN		—		700		4,559		4,856		700		9,322		10,022		(3,600)	1994	19
0625	Nashville	TN		—		955		14,289		2,319		955		15,545		16,500		(4,649)	2000	34
0626	Nashville	TN		—		2,050		5,211		3,498		2,055		8,320		10,375		(2,682)	2000	34
0627	Nashville	TN		—		1,007		181		649		1,007		805		1,812		(324)	2000	34
0628	Nashville	TN		—		2,980		7,164		2,186		2,980		8,979		11,959		(2,800)	2000	34
0630	Nashville	TN		—		515		848		286		528		1,120		1,648		(394)	2000	34
0631	Nashville	TN		—		266		1,305		1,384		266		2,469		2,735		(771)	2000	34
0632	Nashville	TN		—		827		7,642		3,699		827		10,316		11,143		(3,200)	2000	34
0633	Nashville	TN		—		5,425		12,577		4,144		5,425		16,440		21,865		(5,616)	2000	34
0634	Nashville	TN		—		3,818		15,185		7,422		3,818		21,238		25,056		(6,348)	2000	34
0636	Nashville	TN		—		583		450		303		583		753		1,336		(205)	2000	34

									Costs											Life on Which
									Capitalized		Gross Amount at Which Carried									Depreciation in
					Initial Cost to Company				Subsequent		As of December 31, 2015								Year	Latest Income
			Encumbrances at				Buildings and		to				Buildings and				Accumulated		Acquired/	Statement is
City		State	December 31, 2015		Land		Improvements		Acquisition		Land		Improvements		Total(1)		Depreciation		Constructed	Computed
0573	Arlington	TX		—		769		12,355		3,707		769		15,342		16,111		(4,278)	2003	34
0576	Conroe	TX		—		324		4,842		2,024		324		5,902		6,226		(1,778)	2000	34
0577	Conroe	TX		—		397		7,966		2,363		397		9,840		10,237		(2,839)	2000	34
0578	Conroe	TX		—		388		7,975		3,862		388		11,649		12,037		(3,271)	2006	31
0579	Conroe	TX		—		188		3,618		983		188		4,583		4,771		(1,322)	2000	34
0581	Corpus Christi	TX		—		717		8,181		4,852		717		12,204		12,921		(3,903)	2000	34
0600	Corpus Christi	TX		—		328		3,210		3,735		328		6,483		6,811		(2,139)	2000	34
0601	Corpus Christi	TX		—		313		1,771		1,663		313		2,999		3,312		(813)	2000	34
2244	Cypress	TX		—		—		—		20,330		—		20,330		20,330		—	2015	*
0582	Dallas	TX		—		1,664		6,785		3,251		1,706		9,398		11,104		(3,020)	2000	34
1314	Dallas	TX		—		15,230		162,971		8,480		15,860		169,116		184,976		(44,163)	2006	35
2201	Dallas	TX		—		1,043		25,841		61		1,043		25,901		26,944		(1,053)	2014	35
0583	Fort Worth	TX		—		898		4,866		1,776		898		6,439		7,337		(2,174)	2000	34
0805	Fort Worth	TX		—		—		2,481		1,138		2		3,444		3,446		(1,420)	2005	25
0806	Fort Worth	TX		—		—		6,070		371		5		6,335		6,340		(1,696)	2005	40
2231	Fort Worth	TX		—		902		—		44		946		—		946		(3)	2014	**
1061	Granbury	TX		—		—		6,863		197		—		7,060		7,060		(1,683)	2006	40
0430	Houston	TX		—		1,927		33,140		4,344		2,070		36,424		38,494		(16,662)	1999	35
0446	Houston	TX		—		2,200		19,585		8,033		2,209		22,938		25,147		(15,751)	1999	17
0586	Houston	TX		—		1,033		3,165		1,218		1,033		3,938		4,971		(1,247)	2000	34
0589	Houston	TX		—		1,676		12,602		4,559		1,706		15,562		17,268		(4,569)	2000	34
0670	Houston	TX		—		257		2,884		1,252		318		3,843		4,161		(1,302)	2000	35
0702	Houston	TX		—		—		7,414		1,639		7		8,877		8,884		(2,925)	2004	36
1044	Houston	TX		—		—		4,838		3,218		—		7,964		7,964		(2,853)	2006	40
2542	Houston	TX		—		304		17,764		—		304		17,764		18,068		(272)	2015	35
2543	Houston	TX		—		116		6,555		—		116		6,555		6,671		(118)	2015	30
2544	Houston	TX		—		312		12,094		—		312		12,094		12,406		(222)	2015	30
2545	Houston	TX		—		316		13,931		—		316		13,931		14,247		(194)	2015	40
2546	Houton	TX		—		408		18,332		—		408		18,332		18,740		(400)	2015	25
2547	Houston	TX		—		470		18,197		—		470		18,197		18,667		(336)	2015	30
2548	Houston	TX		—		313		7,036		—		313		7,036		7,349		(166)	2015	25
2549	Houston	TX		—		530		22,711		—		530		22,711		23,241		(278)	2015	45
0590	Irving	TX		—		828		6,160		2,572		828		8,543		9,371		(2,619)	2000	34
0700	Irving	TX		—		—		8,550		3,362		—		11,471		11,471		(3,968)	2006	34
1202	Irving	TX		—		1,604		16,107		987		1,633		17,034		18,667		(4,101)	2006	40
1207	Irving	TX		—		1,955		12,793		1,616		1,986		14,377		16,363		(3,472)	2006	40
1062	Lancaster	TX		—		172		2,692		1,091		185		3,715		3,900		(1,172)	2006	39
2195	Lancaster	TX		—		—		1,138		672		131		1,679		1,810		(178)	2006	39
0591	Lewisville	TX		—		561		8,043		1,425		561		9,374		9,935		(2,708)	2000	34
0144	Longview	TX		—		102		7,998		450		102		8,447		8,549		(4,269)	1992	45
0143	Lufkin	TX		—		338		2,383		47		338		2,390		2,728		(1,114)	1992	45
0568	Mckinney	TX		—		541		6,217		1,039		541		6,588		7,129		(2,212)	2003	36
0569	Mckinney	TX		—		—		636		7,748		—		7,703		7,703		(2,345)	2003	40
1079	Nassau Bay	TX		—		—		8,942		1,178		—		9,985		9,985		(2,491)	2006	40
0596	North Richland Hills	TX		—		812		8,883		2,350		812		10,890		11,702		(3,013)	2000	37
2048	North Richland Hills	TX		—		1,385		10,213		1,427		1,399		11,626		13,025		(1,566)	2012	30
1048	Pearland	TX		—		—		4,014		4,173		—		7,783		7,783		(2,370)	2006	40
2232	Pearland	TX		—		—		—		13,874		—		13,874		13,874		(3)	2014	*
0447	Plano	TX		—		1,700		7,810		6,191		1,727		13,355		15,082		(5,124)	1999	20
0597	Plano	TX		—		1,210		9,588		3,831		1,210		12,641		13,851		(3,565)	2000	34
0672	Plano	TX		—		1,389		12,768		1,824		1,389		13,385		14,774		(3,567)	2002	36
1284	Plano	TX		—		2,049		18,793		1,950		2,101		18,735		20,836		(6,125)	2006	40
1286	Plano	TX		—		3,300		—		—		3,300		—		3,300		—	2006	**
0815	San Antonio	TX		—		—		9,193		1,472		12		10,191		10,203		(3,022)	2006	35
0816	San Antonio	TX		3,854		—		8,699		2,640		148		10,673		10,821		(2,920)	2006	35
1591	San Antonio	TX		—		—		7,309		355		12		7,653		7,665		(1,474)	2010	30
1977	San Antonio	TX		—		—		26,191		1,118		—		27,301		27,301		(4,819)	2011	30
0598	Sugarland	TX		—		1,078		5,158		2,236		1,170		6,879		8,049		(2,219)	2000	34
0599	Texas City	TX		—		—		9,519		157		—		9,676		9,676		(2,489)	2000	37
0152	Victoria	TX		—		125		8,977		394		125		9,370		9,495		(4,314)	1994	45
2550	The Woodlands	TX		—		115		5,141		—		115		5,141		5,256		(80)	2015	35
2551	The Woodlands	TX		—		296		18,282		—		296		18,282		18,578		(248)	2015	40
2552	The Woodlands	TX		—		374		25,125		—		374		25,125		25,499		(302)	2015	45
1592	Bountiful	UT		4,870		999		7,426		161		999		7,587		8,586		(1,374)	2010	30
0169	Bountiful	UT		—		276		5,237		1,078		348		6,086		6,434		(2,682)	1995	45
0346	Castle Dale	UT		—		50		1,818		63		50		1,881		1,931		(934)	1998	35
0347	Centerville	UT		—		300		1,288		191		300		1,479		1,779		(790)	1999	35
2035	Draper	UT		5,384		—		10,803		113		—		10,916		10,916		(972)	2012	45
0469	Kaysville	UT		—		530		4,493		226		530		4,719		5,249		(1,517)	2001	43
0456	Layton	UT		—		371		7,073		861		389		7,675		8,064		(3,117)	2001	35
2042	Layton	UT		—		—		10,975		83		—		11,058		11,058		(900)	2012	45
0359	Ogden	UT		—		180		1,695		187		180		1,761		1,941		(819)	1999	35
1283	Ogden	UT		—		106		4,464		696		106		4,241		4,347		(4,167)	2006	40
0357	Orem	UT		—		337		8,744		1,622		306		8,128		8,434		(3,898)	1999	35
0371	Providence	UT		—		240		3,876		250		256		3,820		4,076		(1,788)	1999	35
0353	Salt Lake City	UT		—		190		779		148		201		916		1,117		(446)	1999	35
0354	Salt Lake City	UT		—		220		10,732		1,727		220		12,179		12,399		(5,885)	1999	35
0355	Salt Lake City	UT		—		180		14,792		1,835		180		16,102		16,282		(7,674)	1999	35
0467	Salt Lake City	UT		—		3,000		7,541		2,013		3,126		9,081		12,207		(3,024)	2001	38
0566	Salt Lake City	UT		—		509		4,044		1,512		509		5,200		5,709		(1,752)	2003	37
2041	Salt Lake City	UT		—		—		12,326		73		—		12,399		12,399		(1,039)	2012	45
2033	Sandy	UT		—		867		3,513		718		867		4,231		5,098		(717)	2012	20
0358	Springville	UT		—		85		1,493		233		95		1,618		1,713		(779)	1999	35
0482	Stansbury	UT		—		450		3,201		374		450		3,448		3,898		(1,182)	2001	45
0351	Washington Terrace	UT		—		—		4,573		2,299		17		6,421		6,438		(3,141)	1999	35
0352	Washington Terrace	UT		—		—		2,692		1,159		15		3,470		3,485		(1,591)	1999	35
2034	West Jordan	UT		7,118		—		12,021		—		—		12,021		12,021		(996)	2012	45
2036	West Jordan	UT		947		—		1,383		329		—		1,713		1,713		(308)	2012	20
0495	West Valley City	UT		—		410		8,266		1,002		410		9,268		9,678		(3,909)	2002	35
0349	West Valley City	UT		—		1,070		17,463		128		1,036		17,581		18,617		(8,461)	1999	35
1208	Fairfax	VA		—		8,396		16,709		4,406		8,494		20,467		28,961		(6,819)	2006	28
2230	Fredericksburg	VA		—		1,101		8,570		—		1,101		8,570		9,671		(347)	2014	40
0572	Reston	VA		—		—		11,902		563		—		12,394		12,394		(4,328)	2003	43
0448	Renton	WA		—		—		18,724		1,973		—		19,469		19,469		(8,824)	1999	35
0781	Seattle	WA		—		—		52,703		11,475		—		60,430		60,430		(17,488)	2004	39
0782	Seattle	WA		—		—		24,382		11,409		125		34,502		34,627		(9,828)	2004	36
0783	Seattle	WA		—		—		5,625		1,318		183		6,685		6,868		(6,147)	2004	10
0785	Seattle	WA		—		—		7,293		4,596		—		10,723		10,723		(2,740)	2004	33
1385	Seattle	WA		—		—		45,027		2,271		—		47,120		47,120		(11,601)	2007	30
2038	Evanston	WY		—		—		4,601		8		—		4,609		4,609		(429)	2012	40
0884	Coyoacan	MX		—		415		3,739		(666)		70		3,417		3,487		(799)	2006	40
			$	144,985	$	253,637	$	2,433,193	$	587,192	$	259,512	$	2,913,075	$	3,172,587	$	(735,839)
Hospital
0126	Sherwood	AR		—		709		9,604		—		709		9,588		10,297		(5,311)	1990	45
0113	Glendale	AZ		—		1,565		7,050		—		1,565		7,050		8,615		(3,984)	1988	45
1038	Fresno	CA		—		3,652		29,113		21,935		3,652		51,048		54,700		(13,923)	2006	40
0423	Irvine	CA		—		18,000		70,800		—		18,000		70,800		88,800		(32,709)	1999	35
0127	Colorado Springs	CO		—		690		8,338		—		690		8,338		9,028		(4,599)	1989	45
0887	Atlanta	GA		—		4,300		13,690		—		4,300		11,890		16,190		(5,251)	2007	40
0112	Overland Park	KS		—		2,316		10,681		—		2,316		10,680		12,996		(6,250)	1988	45
1383	Baton Rouge	LA		—		690		8,545		87		690		8,502		9,192		(3,110)	2007	40
0877	Slidell	LA		—		1,490		22,034		—		1,490		20,934		22,424		(4,799)	2006	40
2031	Slidell	LA		—		3,000		—		643		3,000		643		3,643		—	2012	**
0886	Dallas	TX		—		1,820		8,508		26		1,820		7,454		9,274		(1,646)	2007	40
1319	Dallas	TX		—		18,840		155,659		1,465		18,840		157,124		175,964		(39,257)	2007	35
1384	Plano	TX		—		6,290		22,686		5,705		6,290		28,202		34,492		(9,617)	2007	25
2198	Webster	TX		—		2,220		9,602		—		2,220		9,602		11,822		(979)	2013	35
			$	—	$	65,582	$	376,310	$	29,861	$	65,582	$	401,855	$	467,437	$	(131,435)
Total operations properties			$	932,212	$	1,984,966	$	11,444,006	$	1,695,529	$	1,995,612	$	12,890,310	$	14,885,922	$	(2,605,036)
Corporate and other assets				—		—		—		313		45		1,785		1,830		—
Total			$	932,212	$	1,984,966	$	11,444,006	$	1,695,842	$	1,995,657	$	12,892,095	$	14,887,752	$	(2,605,036)

*	Property is in development and not yet placed in service or taken out of service and placed in redevelopment.
**	Represents land parcels which are not depreciated.
†	A portion of the property has been taken out of service and placed in redevelopment.

(1) At December 31, 2015, the tax basis of the Company’s net real estate assets is less than the reported amounts by approximately $1.6 billion (unaudited).

(b) A summary of activity for real estate and accumulated depreciation follows (in thousands):

	Year ended December 31,
	2015		2014		2013
Real estate:
Balances at beginning of year	$	13,137,644	$	12,592,841	$	12,524,224
Acquisition of real estate and development and improvements		1,930,931		756,043		257,189
Disposition of real estate		(121,374)		(169,311)		(78,151)
Impairments		(3,118)		—		—
Balances associated with changes in reporting presentation(1)		(56,331)		(41,929)		(110,421)
Balances at end of year	$	14,887,752	$	13,137,644	$	12,592,841
Accumulated depreciation:
Balances at beginning of year	$	2,250,757	$	1,965,592	$	1,694,892
Depreciation expense		418,591		384,019		353,344
Disposition of real estate		(17,251)		(55,745)		(38,447)
Balances associated with changes in reporting presentation(1)		(47,061)		(43,109)		(44,197)
Balances at end of year	$	2,605,036	$	2,250,757	$	1,965,592

The balances associated with changes in reporting presentation represent real estate and accumulated depreciation related to fully depreciated assets written off, properties placed into discontinued operations or where the lease classification has changed to direct financing leases.