CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024	[1]
Real property owned:
Land and land improvements	$ 5,146,696	$ 5,271,418
Buildings and improvements	42,496,555	42,207,735
Acquired lease intangibles	2,189,639	2,548,766
Real property held for sale, net of accumulated depreciation	5,091,216	51,866
Construction in progress	511,574	1,219,720
Less accumulated depreciation and amortization	(10,107,309)	(10,626,263)
Net real property owned	45,328,371	40,673,242
Right of use assets, net	1,250,447	1,201,131
Investments in sales-type leases, net	0	172,260
Real estate loans receivable, net of credit allowance	1,773,788	1,805,044
Net real estate investments	48,352,606	43,851,677
Other assets:
Investments in unconsolidated entities	1,835,979	1,768,772
Cash and cash equivalents	6,806,507	3,506,586
Restricted cash	134,066	204,871
Receivables and other assets	2,375,644	1,712,402
Total other assets	11,152,196	7,192,631
Total assets	59,504,802	51,044,308
Liabilities:
Unsecured credit facility and commercial paper	0	0
Senior unsecured notes	14,365,008	13,162,102
Secured debt	2,487,354	2,338,155
Lease liabilities	1,311,600	1,258,099
Accrued expenses and other liabilities	2,028,458	1,713,366
Total liabilities	20,192,420	18,471,722
Redeemable noncontrolling interests	284,364	256,220
Equity:
Common stock	684,229	637,002
Capital in excess of par value	47,054,892	40,016,503
Treasury stock	(14,340)	(114,176)
Cumulative net income	10,937,128	10,096,724
Cumulative dividends	(19,687,645)	(18,320,064)
Accumulated other comprehensive income (loss)	(217,446)	(359,781)
Total Welltower Inc. stockholders' equity	38,756,818	31,956,208
Noncontrolling interests	271,200	360,158
Total equity	39,028,018	32,316,366
Total liabilities and equity	$ 59,504,802	$ 51,044,308

[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.