CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Real property owned:
Land and land improvements	$ 5,794,697	$ 5,271,418	[1]
Buildings and improvements	46,583,039	42,207,735	[1]
Acquired lease intangibles	2,775,121	2,548,766	[1]
Real property held for sale, net of accumulated depreciation	108,925	51,866	[1]
Construction in progress	712,119	1,219,720	[1]
Less accumulated depreciation and amortization	(11,673,306)	(10,626,263)	[1]
Net real property owned	44,300,595	40,673,242	[1]
Right of use assets, net	1,279,172	1,201,131	[1]
Investments in sales-type leases, net	0	172,260
Real estate loans receivable, net of credit allowance	1,801,860	1,805,044	[1]
Net real estate investments	47,381,627	43,851,677	[1]
Other assets:
Investments in unconsolidated entities	1,964,267	1,768,772	[1]
Cash and cash equivalents	4,409,740	3,506,586	[1]
Restricted cash	113,771	204,871	[1]
Receivables and other assets	1,964,090	1,712,402	[1]
Total other assets	8,451,868	7,192,631	[1]
Total assets	55,833,495	51,044,308	[1]
Liabilities:
Unsecured credit facility and commercial paper	0	0	[1]
Senior unsecured notes	13,448,881	13,162,102	[1]
Secured debt	2,522,222	2,338,155	[1]
Lease liabilities	1,335,647	1,258,099	[1]
Accrued expenses and other liabilities	1,980,444	1,713,366	[1]
Total liabilities	19,287,194	18,471,722	[1]
Redeemable noncontrolling interests	283,187	256,220	[1]
Equity:
Common stock	665,238	637,002	[1]
Capital in excess of par value	43,949,130	40,016,503	[1]
Treasury stock	(13,944)	(114,176)	[1]
Cumulative net income	10,656,569	10,096,724	[1]
Cumulative dividends	(19,190,453)	(18,320,064)	[1]
Accumulated other comprehensive income (loss)	(166,014)	(359,781)	[1]
Total Welltower Inc. stockholders' equity	35,900,526	31,956,208	[1]
Noncontrolling interests	362,588	360,158	[1]
Total equity	36,263,114	32,316,366	[1]
Total liabilities and equity	$ 55,833,495	$ 51,044,308	[1]

[1] The consolidated balance sheet at December 31, 2024 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements.