Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2024

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Real Estate and Accumulated Depreciation

Schedule III

Universal Health Realty Income Trust

Real Estate and Accumulated Depreciation — December 31, 2024

(amounts in thousands)

					Gross amount at					Date of
					which carried					Completion of
	Initial Cost				at end of period				Accumulated	Construction,
Description	Encumbrance (c.)	Land	Building & Improv.	Adjustments to Basis (a.)	Land	Building & Improvements	CIP	Total	Depreciation as of Dec. 31, 2024	Acquisition or Significant improvement	Date Acquired	Average Depreciable Life
McAllen Medical Center    McAllen, Texas	—	$4,720	$31,442	$10,189	$6,281	$40,070	—	$46,351	$33,837	1994	1986	42 Years
Wellington Regional    Medical Center    West Palm Beach, Florida	—	1,190	14,652	17,370	1,663	31,549	—	33,212	25,156	2006	1986	42 Years
Evansville Facility    Evansville, Indiana	—	500	6,945	1,062	500	8,007	—	8,507	7,100	1993	1989	40 Years
4058 W. Melrose Facility    Central Chicago, Illinois	—	158	6,404	(6,404)	158	—	—	158	—	1993	1986	25 Years
Family Doctor’s Medical    Office Building    Shreveport, Louisiana	—	54	1,526	549	54	2,075	—	2,129	1,410	1991	1995	45 Years
Professional Buildings at    King’s Crossing    Kingwood, Texas (d.)	—	439	1,837	(287)	439	1,550	—	1,989	816	1995	1995	45 Years
Chesterbrook Academy    Audubon, Pennsylvania	—	307	996	—	307	996	—	1,303	631	1996	1996	45 Years
Chesterbrook Academy    New Britain, Pennsylvania	—	250	744	—	250	744	—	994	480	1991	1996	45 Years
Chesterbrook Academy    Uwchlan, Pennsylvania	—	180	815	—	180	815	—	995	513	1992	1996	45 Years
Chesterbrook Academy    Newtown, Pennsylvania	—	195	749	—	195	749	—	944	481	1992	1996	45 Years
The Southern Crescent    Center I (b.)	—	1,130	5,092	(1,881)	1,130	3,211	—	4,341	2,906	1994	1996	45 Years
Southern Crescent    Center II (b.)    Riverdale, Georgia	—	—	—	5,389	806	4,583	—	5,389	3,779	2000	1998	35 Years
Cypresswood    Professional Center    Spring, Texas (e.)	—	573	3,842	(1,599)	573	2,243	—	2,816	893	1997	1997	35 Years
701 South Tonopah Building    Las Vegas, Nevada (f.)	—	—	1,579	68	—	1,647	—	1,647	1,647	1999	1999	25 Years
Danbury Medical Plaza    Danbury, Connecticut	—	1,151	5,176	1,576	1,151	6,752	—	7,903	5,230	2000	2000	30 Years
Apache Junction Medical Plaza    Apache Junction, AZ	—	240	3,590	1,414	240	5,004	5	5,249	3,044	2004	2004	30 Years
BRB Medical Office    Building    Kingwood, Texas	—	430	8,970	1,960	430	10,930	—	11,360	4,222	2010	2010	37 Years
Centennial Hills Medical    Office Building    Las Vegas, NV (f.)	—	—	19,890	4,000	—	23,890	374	24,264	10,987	2006	2006	34 Years
Desert Springs Medical Plaza    Las Vegas, NV	—	1,200	9,560	2,912	1,200	12,472	17	13,689	6,673	1998	1998	30 Years
700 Shadow Lane &    Goldring MOBs    Las Vegas, NV	—	400	11,300	5,883	400	17,183	930	18,513	9,321	2003	2003	30 Years
Spring Valley Hospital MOB I    Las Vegas, NV (f.)	—	—	9,500	2,441	—	11,941	369	12,310	5,602	2004	2004	35 Years
Spring Valley Hospital    MOB II    Las Vegas, NV (f.)	—	—	9,800	2,162	—	11,962	338	12,300	5,479	2006	2006	34 Years
Summerlin Hospital    MOB I    Las Vegas, NV	—	460	15,440	2,226	460	17,666	1,409	19,535	9,138	1999	1999	30 Years

Schedule III

Universal Health Realty Income Trust

Real Estate and Accumulated Depreciation — December 31, 2024 (continued)

(amounts in thousands)

					Gross amount at					Date of
					which carried					Completion of
	Initial Cost				at end of period				Accumulated	Construction,
Description	Encumbrance (c.)	Land	Building & Improv.	Adjustments to Basis (a.)	Land	Building & Improvements	CIP	Total	Depreciation as of Dec. 31, 2024	Acquisition or Significant improvement	Date Acquired	Average Depreciable Life
Summerlin Hospital    MOB II    Las Vegas, NV	—	370	16,830	3,022	370	19,852	783	21,005	9,595	2000	2000	30 Years
Summerlin Hospital    MOB III    Las Vegas, NV (f.)	—	—	14,900	3,500	—	18,400	39	18,439	7,363	2009	2009	36 Years
Emory at Dunwoody    Building    Dunwoody, GA	—	782	3,455	—	782	3,455		4,237	1,635	2011	2011	35 Years
Forney Medical Plaza    Forney, TX	—	910	11,960	1,157	910	13,117	6	14,033	5,845	2011	2011	35 Years
Lake Pointe Medical Arts    Building    Rowlett, TX	—	1,100	9,000	1,132	1,100	10,132		11,232	4,294	2011	2011	35 Years
Tuscan Professional Building    Irving, TX	363	1,100	12,525	3,703	1,100	16,228	0	17,328	7,127	2011	2011	35 Years
PeaceHealth Medical    Clinic    Bellingham, WA	—	1,900	24,910	921	1,900	25,831	—	27,731	10,654	2012	2012	35 Years
Northwest Texas    Professional Office Tower    Amarillo, TX (f.)	—	—	7,180	1,590	—	8,770	—	8,770	3,525	2012	2012	35 Years
Ward Eagle Office Village    Farmington Hills, MI	—	220	3,220	177	220	3,397	—	3,617	1,364	2013	2013	35 Years
5004 Poole Road MOB    Denison, TX	—	96	529	—	96	529	—	625	200	2013	2013	35 Years
Desert Valley Medical    Center    Phoenix, AZ	—	2,280	4,624	1,408	2,280	6,032	14	8,326	2,836	1996	1996	30 Years
Hanover Emergency Center    Mechanicsville, VA	—	1,300	6,224	—	1,300	6,224	—	7,524	2,147	2014	2014	35 Years
Haas Medical Office Park    Ottumwa, IA (g.)	—	—	3,571	—	—	3,571	—	3,571	1,185	2015	2015	35 Years
South Texas ER at Mission    Mission, TX	—	1,441	4,696	—	1,441	4,696	—	6,137	1,562	2015	2015	35 Years
3811 E. Bell    Phoenix, AZ	—	930	6,929	2,403	930	9,332	266	10,528	4,423	2010	2010	30 Years
The Northwest Medical Center    at Sugar Creek    Bentonville, AR	—	1,100	2,870	140	1,100	3,010	—	4,110	1,091	2014	2014	35 Years
Rosenberg Children’s    Medical Plaza    Phoenix, AZ (g.)	11,503	—	23,302	158	—	23,460	5	23,465	8,186	2001	2001	35 Years
Phoenix Children’s East    Valley Care    Center Phoenix, AZ	7,646	1,050	10,900	—	1,050	10,900	—	11,950	3,780	2006	2006	35 Years
Palmdale Medical Plaza    Palmdale, CA (f.)	—	—	10,555	1,869	—	12,424	837	13,261	4,823	2008	2008	34 Years
Piedmont-Roswell Physician Center    Sandy Springs, GA	—	2,338	2,128	—	2,338	2,128	—	4,466	890	2015	2015	30 Years
Piedmont-Vinings Physician Center    Vinings, GA	—	1,348	2,418	—	1,348	2,418	—	3,766	978	2015	2015	30 Years
Santa Fe Professional    Plaza    Scottsdale, AZ	—	1,090	1,960	671	1,090	2,631	74	3,795	1,278	1999	1999	30 Years
Sierra San Antonio Medical    Plaza    Fontana, CA (g.)	—	—	11,538	1,381	—	12,919	734	13,653	5,374	2006	2006	30 Years
Vista Medical Terrace &    Sparks MOB    Sparks, NV (f.)	—	—	9,276	2,576	—	11,852	123	11,975	5,564	2008	2008	30 Years
South Texas ER at Weslaco    Weslaco ,TX	—	1,749	4,879	—	1,749	4,879	—	6,628	1,631	2015	2015	35 Years
Chandler Corporate Center III    Chandler, AZ	—	2,328	14,131	—	2,328	14,131	—	16,459	5,864	2016	2016	35 Years
Frederick Crestwood MOB    Frederick, MD	—	2,265	18,731	—	2,265	18,731	—	20,996	6,004	2016	2016	35 Years
Madison Professional    Office Building    Madison, AL	—	2,296	6,411	137	2,296	6,548	—	8,844	2,247	2016	2016	35 Years
2704 North Tenaya Way MOB    Las Vegas, NV	—	3,032	10,602	—	3,032	10,602	—	13,634	3,206	2016	2016	35 Years
Henderson Medical Plaza    Henderson, NV (f.)	—	—	10,718	10,592	—	21,310	56	21,366	10,171	2017	2017	35 Years
Health Center at Hamburg    Hamburg, PA	—	696	3,406	—	696	3,406	—	4,102	1,023	2017	2017	35 Years
Las Palmas Del Sol Emergency Center - West    El Paso, TX	—	801	5,029	—	801	5,029	—	5,830	1,367	2017	2017	35 Years
Beaumont Medical Sleep Center Building    Southfield, MI	—	254	2,968	—	254	2,968	—	3,222	787	2018	2018	35 Years
Clive Behavioral Health    Clive, IA	—	1,330	33,954	—	1,330	33,954	—	35,284	5,678	2020	2019	35 Years

					Gross amount at					Date of
					which carried					Completion of
	Initial Cost				at end of period				Accumulated	Construction,
Description	Encumbrance (c.)	Land	Building & Improv.	Adjustments to Basis (a.)	Land	Building & Improvements	CIP	Total	Depreciation as of Dec. 31, 2024	Acquisition or Significant improvement	Date Acquired	Average Depreciable Life
Bellin Health Family Medicine Center    Escanaba, MI	—	605	3,906	—	605	3,906	—	4,511	809	2019	2019	35 Years
Sand Point Medical Properties    Escanaba, MI	—	265	1,654	—	265	1,654	—	1,919	271	2020	2020	35 Years
Fire Mesa, LLC    Las Vegas, NV		2,400	9,671		2,400	9,671		12,071	1,662	2021	2021	35 Years
Texoma Medical Plaza    Denison, TX (f)(a)	—	—	19,771	575	—	20,346	—	20,346	7,639	2021	2021	39 Years
Sierra Medical Plaza I    Reno, NV (f)	—	—	29,275	—	—	29,275	—	29,275	1,975	2023	2021	35 Years
Beaumont Heart & Vascular Center    Dearborn, MI	—	537	4,434		537	4,434	—	4,971	555	2022	2022	35 Years
140 Thomas Johnson Drive    Frederick, MD	—	1,197	5,635	35	1,197	5,670	—	6,867	627	2022	2022	35 Years
McAllen Doctor's Center    McAllen, TX	—	1,343	4,440		1,343	4,440	1,316	7,099	352	2023	2023	35 Years
TOTALS (h.)	$19,512	$54,030	$564,964	$86,177	$56,870	$648,301	$7,695	$712,866	$286,932

a. Consists of costs capitalized subsequent to acquisition or initial construction, purchase price adjustments, and write-off of costs of fully depreciated assets, divested assets, asset impairments and hurricane-damaged assets.

b. During 2008, a $4.6 million provision for asset impairment was recorded in connection with the real estate assets of Southern Crescent Center I & Southern Crescent Center II.

c. Consists of outstanding balances as of December 31, 2024 on third-party debt that is non-recourse to us.

d. Carrying value of depreciable assets were written down to zero as a result of substantial damage from Hurricane Harvey during the third quarter of 2017.

e. Carrying value of depreciable assets were written down as a result of substantial damage from Hurricane Harvey during the third quarter of 2017.

f. We are the lessee with a UHS-related party on a ground lease for land.

g. We are the lessee with a third party on a ground lease for land.

h. The aggregate cost for federal income tax purposes is $726 million (unaudited) with a net book value of $421 million (unaudited).

In addition to the real estate properties listed in the table above, as part of the December, 2021 asset purchase and sale agreement with UHS, as amended, and as discussed herein, a wholly-owned subsidiary of UHS purchased the real estate assets of the Inland Valley Campus of Southwest Healthcare System from us, and transferred the real estate assets of two wholly-owned subsidiaries of UHS (Aiken Regional Medical Center and Canyon Creek Behavioral Health). The real estate assets of Aiken Regional Medical Center and Canyon Creek Behavioral Health are recorded as a financing receivable from UHS on our Consolidated Balance Sheet at December 31, 2024. Please see Note 2 for additional disclosure.

UNIVERSAL HEALTH REALTY INCOME TRUST

NOTES TO SCHEDULE III

DECEMBER 31, 2024

(amounts in thousands)

(1) RECONCILIATION OF REAL ESTATE PROPERTIES

The following table reconciles the Real Estate Properties from January 1, 2022 to December 31, 2024:

	2024			2023			2022
Balance at January 1,	$	706,244		$	697,969		$	663,733
Additions (a.)		6,647			17,505			22,555
Acquisitions		—			5,783			11,802
Disposals/Divestitures (b.)		(25	)		(15,013	)		(121	)
Balance at December 31,	$	712,866		$	706,244		$	697,969

(2) RECONCILIATION OF ACCUMULATED DEPRECIATION

The following table reconciles the Accumulated Depreciation from January 1, 2022 to December 31, 2024:

	2024			2023			2022
Balance at January 1,	$	262,449		$	248,772		$	225,584
Disposals/Divestitures (b.)		(25	)		(10,882	)		(121	)
Depreciation expense		24,508			24,559			23,309
Balance at December 31,	$	286,932		$	262,449		$	248,772

(a)Included in the additions for 2024, 2023 and 2022 are approximately $855,000, $7.5 million and $18.0 million related to the construction of a new MOB, which was substantially completed in March, 2023, and is located on the campus of a UHS wholly-owned hospital that was completed and opened in April, 2022.

(b)The 2024 year includes the disposal of $25,000 in fully depreciated furniture. The 2023 year includes the sale of the Corpus Christi facility, as well as the demolition of the building previously located on the now-vacant land in Chicago, Illinois.