Concentration of Credit Risk

12 Months Ended

Dec. 31, 2021

Concentrations of credit risk arise when one or more tenants, operators, or obligors related to the Company’s investments are engaged in similar business activities or activities in the same geographic region, or have similar economic features that would cause their ability to meet contractual obligations, including those to the Company, to be similarly affected by changes in economic conditions. The Company regularly monitors various segments of its portfolio to assess potential concentrations of credit risks.

The following table provides information regarding the Company’s concentrations with respect to certain states; the information provided is presented for the gross assets and revenues that are associated with certain real estate assets as percentages of total Company’s total assets and revenues, excluding assets classified as discontinued operations:


	Percentage of Total Company Assets		Percentage of Total Company Revenues
	December 31,		Year Ended December 31,
State	2021	2020	2021	2020	2019
California	34	30	28	21	22
Florida	11	10	17	14	2
Texas	10	9	11	9	11
Massachusetts	16	11	9	4	2

The Company’s rental revenue is generated from multiple tenants across its diverse portfolio; as a result, the inability of any single tenant to make its lease payments is unlikely to have a significant financial impact on the Company’s operations. As of December 31, 2021, the Company’s largest tenant in its life science and medical office segments accounted for 3% and 8%, respectively, of the Company’s total revenues.