v3.24.3
Real Estate and Other Investments (Tables)
 9 Months Ended
Sep. 30, 2024
Real Estate [Abstract]  
Schedule of Disposal Groups
Date of SaleLocationType of PropertyNumber of Properties
Sales Price (1)
(Loss) Gain on Sale
March 2024ArizonaMedical Office1$3,600 $(5,874)
June 2024TexasMedical Office14,200 (13,213)
July 2024Illinois and MinnesotaMedical Office221,275 111 
4$29,075 $(18,976)
(1)Sales price excludes closing costs.
As of September 30, 2024, we had 25 properties classified as held for sale in our condensed consolidated balance sheet as follows:
SegmentNumber of PropertiesReal Estate Properties, Net
Medical Office and Life Science4$33,213 
SHOP38,780 
Non-Segment (1)
1835,660 
25$77,653 
(1)Represents 18 triple net leased senior living communities.
Schedule of Joint Ventures
As of September 30, 2024, we had equity investments in unconsolidated joint ventures as follows:
Joint VentureDHC Ownership
DHC Carrying Value of Investment at September 30, 2024
Number of PropertiesLocationSquare Feet
Seaport Innovation LLC10%$65,590 1MA1,134,479 
The LSMD Fund REIT LLC20%44,923 10CA, MA, NY, TX, WA1,068,763 
$110,513 112,203,242 
The following table provides a summary of the mortgage debts of these joint ventures:
Joint VentureCoupon RateMaturity Date
Principal Balance at September 30, 2024 (1)
Mortgage Notes Payable (secured by one property in Massachusetts) (2) (3)
3.53%11/6/2028$620,000 
Mortgage Notes Payable (secured by nine properties in five states) (4)
3.46%2/11/2032189,800 
Mortgage Notes Payable (secured by one property in California) (4) (5)
6.38%2/9/2025266,825 
4.22%$1,076,625 
(1)Amounts are not adjusted for our minority equity interest.
(2)We provide certain guaranties on this debt.
(3)This mortgage loan requires interest only payments until the anticipated repayment date on August 6, 2026, at which time all accrued and unpaid interest along with the principal balance of $620,000 is expected to be repaid. This mortgage loan matures on November 6, 2028 and any unpaid principal from the anticipated repayment date through the maturity date bears interest at a variable rate of the greater of 6.53% or the then effective U.S. swap rate terminating on the maturity date plus 5.00%.
(4)The debt securing these properties is non-recourse to us.
(5)This mortgage loan matures on February 9, 2025 and requires interest to be paid at an annual rate of the one month term secured overnight financing rate, or SOFR, plus a premium of 1.90%. This joint venture has also purchased an interest rate cap through February 2025 with a SOFR strike rate equal to 4.48% and an initial premium of $1,200. The maturity date of this mortgage loan is subject to two remaining one-year extension options.