Real Estate Investments (Tables)

12 Months Ended

Dec. 31, 2022

Real Estate [Abstract]

Schedule of Equity Method Investments

As of December 31, 2022, we had equity investments in joint ventures as follows:

Joint Venture	DHC Ownership	DHC Carrying Value of Investment at December 31, 2022		Number of Properties	Location	Square Feet
Seaport Innovation LLC	10%	$	104,697	1	MA	1,134,479
The LSMD Fund REIT LLC	20%	50,780		10	CA, MA, NY, TX, WA	1,068,763
		$	155,477	11		2,203,242

The following table provides a summary of the mortgage debts of these joint ventures:

Joint Venture	Coupon Rate	Maturity Date	Principal Balance at December 31, 2022 (1)
Mortgage Notes Payable (secured by one property in Massachusetts) (2)	3.53%	8/6/2026	$	620,000
Mortgage Notes Payable (secured by nine properties in five states)	3.46%	2/11/2032	189,800
Mortgage Notes Payable (secured by one property in California) (3)	5.90%	2/9/2024	266,825
Weighted Average / Total	4.10%		$	1,076,625

(1)Amounts are not adjusted for our minority equity interest.

(2)Following the deconsolidation in December 2021 of the net assets of the Seaport JV, we no longer include this $620,000 of secured debt financing in our consolidated balance sheet; however, we continue to provide certain guaranties on this debt.

(3)The maturity date of February 9, 2024 is subject to three, one year extension options and requires interest to be paid at an annual rate based on the secured overnight financing rate, or SOFR, plus a premium of 1.90%. The interest rate is as of December 31, 2022. This joint venture has also purchased an interest rate cap through February 2024 with a SOFR strike rate equal to 4.00%.

Schedule of Real Estate Property Acquisition

The table below represents the purchase price allocations (including net closing adjustments) of acquisitions for the years ended December 31, 2022, 2021 and 2020:

Date

Location

Type of Property

Number of Properties

Square Feet

Cash Paid (1)

Land

Buildings and Improvements

Acquired Real Estate Leases

Acquisitions during the year ended December 31, 2022:

July 2022

California

Life Science

1

88,508

$

75,105

$

15,774

$

45,249

$

14,082

Acquisitions during the year ended December 31, 2021:

We did not acquire any properties during the year ended December 31, 2021.

Acquisitions during the year ended December 31, 2020:

We did not acquire any properties during the year ended December 31, 2020.

(1)Cash paid includes closing costs.

Schedule of Disposal Groups

Date of Sale	Location	Type of Property	Number of Properties	Square Feet or Number of Units		Sales Price (1)		Gain (loss) on Sale
Dispositions during the year ended December 31, 2022:
We did not dispose of any properties during the year ended December 31, 2022.
Dispositions during the year ended December 31, 2021:
February 2021	Pennsylvania	Medical Office	1	92,000	sq. ft.	$	9,000	$	(122)
April 2021	Florida	Life Science / Medical Office	4	263,656	sq. ft.	95,500		30,760
			5			$	104,500	$	30,638
Dispositions during the year ended December 31, 2020:
January 2020	Louisiana	Medical Office	6	40,575	sq. ft.	$	5,925	$	(81)
February 2020	Pennsylvania	Medical Office	1	50,000	sq. ft.	2,900		—
March 2020	Texas	Medical Office	1	70,229	sq. ft.	8,779		2,863
April 2020 (2)	California	IL / AL	3	599	units	47,000		(256)
June 2020	South Carolina	Medical Office	1	49,242	sq. ft.	3,550		—
July 2020	Texas	Medical Office	1	6,849	sq. ft.	2,072		(30)
July 2020	Connecticut	Medical Office	1	32,162	sq. ft.	625		(25)
August 2020 (2)	Mississippi	AL	2	116	units	2,500		(42)
September 2020	Mississippi	Medical Office	1	78,747	sq. ft.	7,250		(114)
October 2020	Various	AL	3	239	units	46,000		4,292
November 2020 (2)	Nebraska	AL	1	131	units	3,000		(26)
December 2020	New York	Medical Office	1	64,060	sq. ft.	3,875		(273)
December 2020	Ohio	Life Science	2	232,016	sq. ft.	7,917		257
December 2020 (2)	Wisconsin	SNF / AL	3	537	units	11,500		(303)
			27			$	152,893	$	6,262

(1)Sales price excludes closing costs.

(2)These senior living communities were previously operated by Five Star.