Item 15. Exhibits, Financial Statement Schedules

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Item 15. Exhibits, Financial Statement Schedules

(a) 1. Financial Statement Schedules

Schedule II: Valuation and Qualifying Accounts


Allowance Accounts(1)			Additions				Deductions
			Amounts
	Balance at		Charged				Uncollectible
Year Ended	Beginning of		Against		Acquired		Accounts		Disposed		Balance at
December 31,	Year		Operations, net		Properties		Written-off		Properties		End of Year
2014	$	49,169	$	5,413	$	—	$	(2,512)	$	(693)	$	51,377
2013		48,599		2,633		—		(2,063)		—		49,169
2012		49,209		3,724		—		(960)		(3,374)		48,599

	(1)		Includes allowance for doubtful accounts, straight-line rent reserves, and allowances for loan and direct financing lease losses.

Schedule III: Real Estate and Accumulated Depreciation


									Costs											Life on Which
									Capitalized		Gross Amount at Which Carried									Depreciation in
					Initial Cost to Company				Subsequent		As of December 31, 2014								Year	Latest Income
			Encumbrances at				Buildings and		to				Buildings and				Accumulated		Acquired/	Statement is
City		State	December 31, 2014		Land		Improvements		Acquisition		Land		Improvements		Total(1)		Depreciation		Constructed	Computed
Senior housing
1107	Huntsville	AL	$	—	$	307	$	5,813	$	—	$	307	$	5,453	$	5,760	$	(1,125)	2006	40
2366	Little Rock	AR		—		1,922		14,140		445		2,046		13,967		16,013		(3,030)	2006	45
0786	Douglas	AZ		—		110		703		—		110		703		813		(305)	2005	35
2384	Prescott	AZ		—		1,276		8,660		—		1,276		8,660		9,936		(688)	2012	45
1974	Sun City	AZ		26,908		2,640		33,223		1,620		2,640		34,314		36,954		(4,647)	2011	30
0518	Tucson	AZ		—		2,350		24,037		—		2,350		24,037		26,387		(9,014)	2002	30
1238	Beverly Hills	CA		—		9,872		32,590		2,208		9,872		34,073		43,945		(7,652)	2006	40
2362	Camarillo	CA		—		5,798		19,427		575		5,822		19,202		25,024		(4,073)	2006	45
2352	Carlsbad	CA		—		7,897		14,255		2,063		7,897		15,527		23,424		(2,913)	2006	45
0883	Carmichael	CA		—		4,270		13,846		—		4,270		13,236		17,506		(2,675)	2006	40
2204	Chino Hills	CA		—		3,720		41,183		—		3,720		41,183		44,903		(803)	2014	35
0851	Citrus Heights	CA		—		1,180		8,367		—		1,180		8,037		9,217		(2,298)	2006	29
2092	Clearlake	CA		—		354		4,799		—		354		4,799		5,153		(328)	2012	45
0790	Concord	CA		25,000		6,010		39,601		—		6,010		38,301		44,311		(9,002)	2005	40
2399	Corona	CA		—		2,637		10,134		—		2,637		10,134		12,771		(687)	2012	45
0787	Dana Point	CA		—		1,960		15,946		—		1,960		15,466		17,426		(3,641)	2005	39
2364	Elk Grove	CA		—		2,235		6,339		262		2,235		6,448		8,683		(1,367)	2006	45
0798	Escondido	CA		14,340		5,090		24,253		—		5,090		23,353		28,443		(5,498)	2005	40
2054	Fortuna	CA		—		818		3,295		—		818		3,295		4,113		(996)	2012	50
2079	Fortuna	CA		—		1,346		11,856		—		1,346		11,856		13,202		(2,553)	2012	45
0791	Fremont	CA		8,641		2,360		11,672		—		2,360		11,192		13,552		(2,635)	2005	40
1965	Fresno	CA		18,666		1,730		31,918		6,623		1,730		38,111		39,841		(4,342)	2011	30
0788	Granada Hills	CA		—		2,200		18,257		—		2,200		17,637		19,837		(4,152)	2005	39
1156	Hemet	CA		—		1,270		5,966		214		1,271		5,933		7,204		(1,603)	2006	40
0856	Irvine	CA		—		8,220		14,104		—		8,220		13,564		21,784		(2,537)	2006	45
0227	Lodi	CA		8,664		732		5,453		—		732		5,453		6,185		(2,540)	1997	35
0226	Murrieta	CA		5,822		435		5,729		—		435		5,729		6,164		(2,601)	1997	35
1165	Northridge	CA		—		6,718		26,309		549		6,752		26,015		32,767		(5,464)	2006	40
1561	Orangevale	CA		—		2,160		8,522		1,000		2,160		9,002		11,162		(2,031)	2008	40
1168	Palm Springs	CA		—		1,005		5,183		396		1,005		5,216		6,221		(1,124)	2006	40
0789	Pleasant Hill	CA		6,270		2,480		21,333		—		2,480		20,633		23,113		(4,857)	2005	40
2369	Rancho Mirage	CA		—		1,798		24,053		475		1,811		23,600		25,411		(4,925)	2006	45
2380	Roseville	CA		—		692		21,662		—		692		21,662		22,354		(1,220)	2012	45
2205	Roseville	CA		—		3,844		33,527		—		3,844		33,527		37,371		(641)	2014	35
2353	San Diego	CA		—		6,384		32,072		222		6,384		31,191		37,575		(6,515)	2006	45
1007	San Dimas	CA		—		5,628		31,374		1,324		5,630		31,902		37,532		(6,424)	2006	40
2354	San Juan Capistrano	CA		—		5,983		9,614		189		5,983		9,517		15,500		(2,024)	2006	45
1167	Santa Rosa	CA		—		3,582		21,113		665		3,627		20,964		24,591		(4,451)	2006	40
0793	South San Francisco	CA		9,967		3,000		16,586		—		3,000		16,056		19,056		(3,774)	2005	40
1966	Sun City	CA		14,131		2,650		22,709		2,123		2,650		24,377		27,027		(3,523)	2011	30
0792	Ventura	CA		9,417		2,030		17,379		—		2,030		16,749		18,779		(3,943)	2005	40
1155	Yorba Linda	CA		—		4,968		19,290		308		5,030		18,740		23,770		(3,922)	2006	40
2055	Yreka	CA		—		565		9,184		—		565		9,184		9,749		(643)	2012	45
2373	Colorado Springs	CO		—		1,910		24,479		400		1,910		23,916		25,826		(5,014)	2006	45
0512	Denver	CO		—		2,810		36,021		1,885		2,810		37,906		40,716		(13,823)	2002	30
1233	Denver	CO		—		2,511		30,641		342		2,528		30,164		32,692		(6,310)	2006	40
2146	Denver	CO		—		875		5,693		—		875		5,693		6,568		(433)	2012	45
1000	Greenwood Village	CO		—		3,367		43,610		2,894		3,367		45,708		49,075		(8,217)	2006	40
1234	Lakewood	CO		—		3,012		31,913		321		3,012		31,436		34,448		(6,550)	2006	40
2091	Montrose	CO		—		1,078		24,224		—		1,078		24,224		25,302		(1,383)	2012	50
2085	Glastonbury	CT		—		3,743		9,766		—		3,743		9,766		13,509		(709)	2012	45
2144	Glastonbury	CT		—		1,658		16,046		—		1,658		16,046		17,704		(1,046)	2012	45
0730	Torrington	CT		—		166		11,001		—		166		10,591		10,757		(2,559)	2005	40
2355	Woodbridge	CT		—		2,352		9,929		224		2,363		9,680		12,043		(2,077)	2006	45
0538	Altamonte Springs	FL		—		1,530		7,956		—		1,530		7,136		8,666		(2,140)	2002	40
0861	Apopka	FL		—		920		4,816		—		920		4,716		5,636		(1,112)	2006	35
0852	Boca Raton	FL		—		4,730		17,532		3,602		4,730		20,723		25,453		(5,396)	2006	30
1001	Boca Raton	FL		11,242		2,415		17,923		—		2,415		17,561		19,976		(3,370)	2006	40
0544	Boynton Beach	FL		7,756		1,270		4,773		—		1,270		4,773		6,043		(1,412)	2003	40
1963	Boynton Beach	FL		27,733		2,550		31,521		2,057		2,550		33,017		35,567		(4,499)	2011	30
1964	Boynton Beach	FL		3,882		570		5,649		1,484		570		6,940		7,510		(1,096)	2011	30
0539	Clearwater	FL		—		2,250		2,627		—		2,250		2,627		4,877		(787)	2002	40
0746	Clearwater	FL		—		3,856		12,176		—		3,856		11,321		15,177		(3,901)	2005	40
0862	Clermont	FL		—		440		6,518		—		440		6,418		6,858		(1,513)	2006	35
1002	Coconut Creek	FL		13,443		2,461		16,006		—		2,461		15,620		18,081		(2,998)	2006	40
0492	Delray Beach	FL		11,040		850		6,637		—		850		6,637		7,487		(1,762)	2002	43
0850	Gainesville	FL		—		1,020		13,490		—		1,020		13,090		14,110		(2,809)	2006	40
1095	Gainesville	FL		—		1,221		12,226		—		1,221		12,001		13,222		(2,475)	2006	40
0490	Jacksonville	FL		42,689		3,250		25,936		6,170		3,250		32,106		35,356		(9,743)	2002	35
1096	Jacksonville	FL		—		1,587		15,616		—		1,587		15,298		16,885		(3,155)	2006	40
0855	Lantana	FL		—		3,520		26,452		—		3,520		25,652		29,172		(7,197)	2006	30
1968	Largo	FL		48,642		2,920		64,988		5,741		2,920		69,601		72,521		(9,887)	2011	30
0731	Ocoee	FL		—		2,096		9,322		—		2,096		8,801		10,897		(2,127)	2005	40
0859	Oviedo	FL		—		670		8,071		—		670		7,971		8,641		(1,879)	2006	35
1970	Palm Beach Gardens	FL		26,785		4,820		24,937		14,799		4,820		38,941		43,761		(4,407)	2011	30
1017	Palm Harbor	FL		—		1,462		16,774		500		1,462		16,888		18,350		(3,538)	2006	40
0732	Port Orange	FL		—		2,340		9,898		—		2,340		9,377		11,717		(2,266)	2005	40
1971	Sarasota	FL		22,427		3,050		29,516		2,183		3,050		31,278		34,328		(4,353)	2011	30
0802	St. Augustine	FL		—		830		11,627		—		830		11,227		12,057		(2,994)	2005	35
2194	Springtree	FL		—		1,066		15,874		—		1,066		15,874		16,940		(936)	2013	45
1097	Tallahassee	FL		—		1,331		19,039		—		1,331		18,695		20,026		(3,856)	2006	40
0224	Tampa	FL		—		600		5,566		686		696		6,134		6,830		(2,345)	1997	45
0849	Tampa	FL		—		800		11,340		—		800		10,940		11,740		(2,347)	2006	40
1257	Vero Beach	FL		—		2,035		34,993		201		2,035		33,634		35,669		(6,934)	2006	40
1605	Vero Beach	FL		—		700		16,234		—		700		16,234		16,934		(2,370)	2010	35
1976	West Palm Beach	FL		—		390		2,241		277		390		2,433		2,823		(351)	2011	30
1098	Alpharetta	GA		—		793		8,761		1,181		793		9,656		10,449		(1,921)	2006	40
1099	Atlanta	GA		—		687		5,507		1,281		687		6,388		7,075		(1,260)	2006	40


									Costs											Life on Which
									Capitalized		Gross Amount at Which Carried									Depreciation in
					Initial Cost to Company				Subsequent		As of December 31, 2014								Year	Latest Income
			Encumbrances at				Buildings and		to				Buildings and				Accumulated		Acquired/	Statement is
City		State	December 31, 2014		Land		Improvements		Acquisition		Land		Improvements		Total(1)		Depreciation		Constructed	Computed
2370	Atlanta	GA		—		2,665		5,911		455		2,669		6,092		8,761		(1,332)	2006	45
2108	Buford	GA		—		562		3,604		—		562		3,604		4,166		(266)	2012	45
2109	Buford	GA		—		536		3,142		—		536		3,142		3,678		(230)	2012	45
2388	Buford	GA		—		1,987		6,561		—		1,987		6,561		8,548		(498)	2012	45
2053	Canton	GA		—		401		17,888		—		401		17,888		18,289		(942)	2012	50
2155	Commerce	GA		—		737		8,228		—		737		8,228		8,965		(548)	2012	45
2165	Hartwell	GA		—		368		6,337		—		368		6,337		6,705		(377)	2012	45
2066	Lawrenceville	GA		—		581		2,669		—		581		2,669		3,250		(239)	2012	45
1241	Lilburn	GA		—		907		17,340		90		907		16,874		17,781		(3,480)	2006	40
2167	Lithia Springs	GA		—		1,031		6,954		—		1,031		6,954		7,985		(520)	2012	40
2105	Macon	GA		—		814		10,890		—		814		10,890		11,704		(601)	2012	45
1112	Marietta	GA		—		894		6,944		725		904		7,392		8,296		(1,561)	2006	40
2395	Marietta	GA		—		987		4,818		—		987		4,818		5,805		(364)	2012	45
2086	Newnan	GA		—		1,227		4,202		—		1,227		4,202		5,429		(349)	2012	45
2147	Stone Mountain	GA		—		264		3,182		—		264		3,182		3,446		(475)	2012	45
2118	Woodstock	GA		—		764		7,334		—		764		7,334		8,098		(464)	2012	45
2157	Woodstock	GA		—		1,926		12,757		—		1,926		12,757		14,683		(806)	2012	45
1088	Davenport	IA		—		511		8,039		—		511		7,868		8,379		(1,623)	2006	40
1093	Marion	IA		—		502		6,865		—		502		6,713		7,215		(1,385)	2006	40
2397	Sioux City	IA		—		197		8,078		—		197		8,078		8,275		(555)	2012	45
1091	Bloomington	IL		—		798		13,091		—		798		12,832		13,630		(2,647)	2006	40
2375	Burr Ridge	IL		—		2,640		23,901		912		2,704		24,749		27,453		(5,330)	2010	45
1089	Champaign	IL		—		101		4,207		1,592		279		5,463		5,742		(1,023)	2006	40
2200	Deer Park	IL		—		4,172		2,417		10,660		4,172		13,077		17,249		—	2014	*
2367	Hoffman Estates	IL		—		1,701		12,037		244		1,704		11,694		13,398		(2,458)	2006	45
1090	Macomb	IL		—		81		6,062		—		81		5,905		5,986		(1,218)	2006	40
1143	Mt. Vernon	IL		—		296		15,935		3,562		512		18,949		19,461		(3,619)	2006	40
1969	Niles	IL		25,672		3,790		32,912		3,853		3,790		36,040		39,830		(5,106)	2011	30
1005	Oak Park	IL		25,358		3,476		35,259		1,862		3,476		36,575		40,051		(6,702)	2006	40
1961	Olympia Fields	IL		29,011		4,120		29,400		1,670		4,120		30,546		34,666		(4,173)	2011	30
1162	Orland Park	IL		—		2,623		23,154		224		2,623		22,748		25,371		(4,729)	2006	40
1092	Peoria	IL		—		404		10,050		—		404		9,840		10,244		(2,030)	2006	40
2376	Prospect Heights	IL		—		2,680		20,299		953		2,725		21,207		23,932		(4,677)	2010	45
1952	Vernon Hills	IL		42,575		4,900		45,854		2,367		4,900		47,535		52,435		(6,215)	2011	30
1237	Wilmette	IL		—		1,100		9,373		—		1,100		9,149		10,249		(1,887)	2006	40
0379	Evansville	IN		—		500		9,302		—		500		7,762		8,262		(2,633)	1999	45
1144	Indianapolis	IN		—		1,197		7,718		—		1,197		7,486		8,683		(1,544)	2006	40
0457	Jasper	IN		—		165		5,952		359		165		6,311		6,476		(2,445)	2001	35
2047	Kokomo	IN		—		296		3,245		—		296		3,245		3,541		(463)	2012	30
2242	Kokomo	IN		—		230		—		—		230		—		230		—	2014	**
1146	West Lafayette	IN		—		813		10,876		—		813		10,626		11,439		(2,192)	2006	40
2371	Edgewood	KY		—		1,868		4,934		339		1,915		4,796		6,711		(1,062)	2006	45
0697	Lexington	KY		8,010		2,093		16,917		—		2,093		16,299		18,392		(5,702)	2004	30
1105	Louisville	KY		—		1,499		26,252		240		1,513		25,868		27,381		(5,417)	2006	40
2115	Murray	KY		—		288		7,400		—		288		7,400		7,688		(517)	2012	45
2135	Paducah	KY		—		621		16,768		—		621		16,768		17,389		(884)	2012	50
2358	Danvers	MA		—		4,616		30,692		243		4,621		30,344		34,965		(6,348)	2006	45
2363	Dartmouth	MA		—		3,145		6,880		516		3,176		7,117		10,293		(1,537)	2006	45
2357	Dedham	MA		—		3,930		21,340		267		3,930		21,032		24,962		(4,401)	2006	45
1158	Plymouth	MA		—		2,434		9,027		441		2,438		8,987		11,425		(1,927)	2006	40
2365	Baltimore	MD		—		1,684		18,889		380		1,696		18,834		20,530		(3,943)	2006	45
1249	Frederick	MD		—		609		9,158		333		609		9,248		9,857		(1,969)	2006	40
2356	Pikesville	MD		—		1,416		8,854		288		1,416		8,681		10,097		(1,920)	2006	45
0281	Westminster	MD		—		768		5,251		—		768		4,853		5,621		(1,348)	1998	45
0546	Cape Elizabeth	ME		—		630		3,524		93		630		3,617		4,247		(1,066)	2003	40
0545	Saco	ME		—		80		2,363		155		80		2,518		2,598		(738)	2003	40
1258	Auburn Hills	MI		—		2,281		10,692		—		2,281		10,692		12,973		(2,205)	2006	40
1248	Farmington Hills	MI		—		1,013		12,119		404		1,013		12,178		13,191		(2,636)	2006	40
1094	Portage	MI		—		100		5,700		4,617		100		9,950		10,050		(1,914)	2006	40
0472	Sterling Heights	MI		—		920		7,326		—		920		7,326		8,246		(2,791)	2001	35
1259	Sterling Heights	MI		—		1,593		11,500		—		1,593		11,181		12,774		(2,306)	2006	40
2143	Champlin	MN		—		1,576		26,725		—		1,576		26,725		28,301		(5,459)	2012	50
1235	Des Peres	MO		—		4,361		20,664		—		4,361		20,046		24,407		(4,134)	2006	40
1236	Richmond Heights	MO		—		1,744		24,232		—		1,744		23,548		25,292		(4,857)	2006	40
0853	St. Louis	MO		—		2,500		20,343		—		2,500		19,853		22,353		(5,680)	2006	30
2081	St. Peters	MO		—		1,377		31,508		—		1,377		31,508		32,885		(2,004)	2012	45
2074	Oxford	MS		—		2,003		14,140		—		2,003		14,140		16,143		(850)	2012	45
0842	Great Falls	MT		—		500		5,683		—		500		5,423		5,923		(1,197)	2006	40
2163	Great Falls	MT		—		252		9,908		—		252		9,908		10,160		(576)	2012	45
0878	Charlotte	NC		—		710		9,559		—		710		9,159		9,869		(1,851)	2006	40
2374	Charlotte	NC		—		2,051		6,529		—		2,051		6,529		8,580		(1,073)	2010	45
1119	Concord	NC		—		601		7,615		166		612		7,546		8,158		(1,618)	2006	40
2126	Mooresville	NC		—		2,538		37,617		—		2,538		37,617		40,155		(2,106)	2012	50
1254	Raleigh	NC		—		1,191		11,532		304		1,191		11,549		12,740		(2,420)	2006	40
2127	Minot	ND		—		685		16,047		—		685		16,047		16,732		(960)	2012	45
2080	Kearney	NE		—		856		22,584		—		856		22,584		23,440		(1,326)	2012	45
2169	Lexington	NE		—		474		8,405		—		474		8,405		8,879		(678)	2012	40
2168	Mc Cook	NE		—		1,024		13,789		—		1,024		13,789		14,813		(1,111)	2012	40
2129	Seward	NE		—		792		18,276		—		792		18,276		19,068		(1,259)	2012	40
2119	Wayne	NE		—		1,005		13,953		—		1,005		13,953		14,958		(880)	2012	45
1599	Cherry Hill	NJ		—		2,420		11,042		1,000		2,420		11,492		13,912		(1,910)	2010	25
1239	Cresskill	NJ		—		4,684		53,927		111		4,684		53,052		57,736		(10,954)	2006	40
0734	Hillsborough	NJ		—		1,042		10,042		—		1,042		9,576		10,618		(2,314)	2005	40
1242	Madison	NJ		—		3,157		19,909		61		3,157		19,385		22,542		(4,013)	2006	40
0733	Manahawkin	NJ		—		921		9,927		—		921		9,461		10,382		(2,286)	2005	40
2359	Paramus	NJ		—		4,280		31,684		207		4,280		31,190		35,470		(6,508)	2006	45
1231	Saddle River	NJ		—		1,784		15,625		308		1,784		15,489		17,273		(3,251)	2006	40
0245	Voorhees Township	NJ		—		900		7,629		—		900		7,629		8,529		(2,637)	1998	45
0213	Albuquerque	NM		—		767		9,324		—		767		8,825		9,592		(3,448)	1996	45
2387	Albuquerque	NM		—		2,223		8,049		—		2,223		8,049		10,272		(551)	2012	45
2161	Rio Rancho	NM		—		1,154		13,726		—		1,154		13,726		14,880		(891)	2012	40
2121	Roswell	NM		—		618		7,038		—		618		7,038		7,656		(545)	2012	45


									Costs											Life on Which
									Capitalized		Gross Amount at Which Carried									Depreciation in
					Initial Cost to Company				Subsequent		As of December 31, 2014								Year	Latest Income
			Encumbrances at				Buildings and		to				Buildings and				Accumulated		Acquired/	Statement is
City		State	December 31, 2014		Land		Improvements		Acquisition		Land		Improvements		Total(1)		Depreciation		Constructed	Computed
2150	Roswell	NM		—		837		8,614		—		837		8,614		9,451		(693)	2012	45
0796	Las Vegas	NV		—		1,960		5,816		—		1,960		5,426		7,386		(1,278)	2005	40
2110	Las Vegas	NV		—		667		14,469		—		667		14,469		15,136		(1,032)	2012	45
1252	Brooklyn	NY		—		8,117		23,627		692		8,117		23,743		31,860		(5,186)	2006	40
1256	Brooklyn	NY		—		5,215		39,052		257		5,215		38,458		43,673		(7,971)	2006	40
2177	Clifton Park	NY		—		2,257		11,470		—		2,257		11,470		13,727		(768)	2012	50
2176	Greece	NY		—		666		9,569		—		666		9,569		10,235		(634)	2012	45
2178	Greece	NY		—		601		7,362		—		601		7,362		7,963		(497)	2012	45
2174	Orchard Park	NY		—		726		17,735		—		726		17,735		18,461		(1,240)	2012	45
2175	Orchard Park	NY		—		478		11,961		—		478		11,961		12,439		(826)	2012	45
0473	Cincinnati	OH		—		600		4,428		—		600		4,428		5,028		(1,687)	2001	35
0841	Columbus	OH		—		970		7,806		1,023		970		8,438		9,408		(1,821)	2006	40
0857	Fairborn	OH		—		810		8,311		—		810		8,011		8,821		(1,926)	2006	36
1147	Fairborn	OH		—		298		10,704		3,068		298		13,541		13,839		(2,665)	2006	40
1386	Marietta	OH		—		1,069		11,435		—		1,069		11,230		12,299		(3,489)	2007	40
1253	Poland	OH		—		695		10,444		273		695		10,379		11,074		(2,114)	2006	40
1159	Willoughby	OH		—		1,177		9,982		295		1,194		9,855		11,049		(2,090)	2006	40
2158	Broken Arrow	OK		—		1,115		18,852		—		1,115		18,852		19,967		(1,071)	2012	45
2122	Muskogee	OK		—		412		2,815		—		412		2,815		3,227		(251)	2012	45
2083	Oklahoma City	OK		—		2,116		28,007		—		2,116		28,007		30,123		(1,621)	2012	45
2372	Oklahoma City	OK		—		801		4,904		265		811		4,776		5,587		(1,048)	2006	45
2383	Oklahoma City	OK		—		1,345		3,943		—		1,345		3,943		5,288		(318)	2012	45
2070	Tahlequah	OK		—		256		5,648		—		256		5,648		5,904		(381)	2012	45
1160	Tulsa	OK		—		1,115		11,028		282		1,129		10,607		11,736		(2,251)	2006	40
2130	Ashland	OR		—		—		19,303		—		—		19,303		19,303		(1,174)	2012	45
2103	Eagle Point	OR		—		609		12,117		—		609		12,117		12,726		(712)	2012	45
2179	Eldorado Heights	OR		—		311		7,868		—		311		7,868		8,179		(437)	2013	45
2098	Eugene	OR		—		1,082		18,858		—		1,082		18,858		19,940		(1,080)	2012	50
2104	Eugene	OR		—		653		13,568		—		653		13,568		14,221		(791)	2012	45
2390	Grants Pass	OR		—		430		3,267		—		430		3,267		3,697		(249)	2012	45
2393	Grants Pass	OR		—		774		13,230		—		774		13,230		14,004		(759)	2012	45
2391	Grants Pass	OR		—		1,064		16,124		—		1,064		16,124		17,188		(865)	2012	45
2392	Grants Pass	OR		—		618		2,932		—		618		2,932		3,550		(338)	2012	45
2139	Gresham	OR		—		465		6,403		—		465		6,403		6,868		(382)	2012	50
2182	Hermiston Terrace	OR		2,853		582		8,087		—		582		8,087		8,669		(400)	2013	45
2140	Lebanon	OR		—		505		12,571		—		505		12,571		13,076		(755)	2012	50
2152	McMinnville	OR		—		3,203		24,909		—		3,203		24,909		28,112		(2,247)	2012	45
2159	McMinnville	OR		—		1,374		6,118		—		1,374		6,118		7,492		(2,277)	2012	45
2090	Monmouth	OR		—		490		1,278		—		490		1,278		1,768		(133)	2012	50
2106	Monmouth	OR		—		603		8,538		—		603		8,538		9,141		(557)	2012	45
2089	Newberg	OR		—		1,889		16,855		—		1,889		16,855		18,744		(966)	2012	50
2133	Portland	OR		—		1,615		12,030		—		1,615		12,030		13,645		(655)	2012	50
2151	Portland	OR		—		1,677		9,469		—		1,677		9,469		11,146		(667)	2012	45
2171	Portland	OR		—		—		16,087		—		—		16,087		16,087		(836)	2012	50
2050	Redmond	OR		—		1,229		21,921		—		1,229		21,921		23,150		(1,126)	2012	50
2131	River Road	OR		2,915		551		6,454		—		551		6,454		7,005		(346)	2013	45
2084	Roseburg	OR		—		1,042		12,090		—		1,042		12,090		13,132		(787)	2012	45
2134	Scappoose	OR		—		353		1,258		—		353		1,258		1,611		(109)	2012	50
2153	Scappoose	OR		—		971		7,116		—		971		7,116		8,087		(533)	2012	45
2051	Springfield	OR		—		1,124		22,515		—		1,124		22,515		23,639		(1,231)	2012	50
2057	Springfield	OR		—		527		6,035		—		527		6,035		6,562		(410)	2012	45
2056	Stayton	OR		—		48		569		—		48		569		617		(64)	2012	45
2058	Stayton	OR		—		253		8,621		—		253		8,621		8,874		(561)	2012	45
2088	Tualatin	OR		—		—		6,326		—		—		6,326		6,326		(531)	2012	45
2180	Windfield Village	OR		3,507		580		9,817		—		580		9,817		10,397		(525)	2013	45
1163	Haverford	PA		—		16,461		108,816		4,348		16,461		111,552		128,013		(23,835)	2006	40
2063	Selinsgrove	PA		—		529		9,111		—		529		9,111		9,640		(660)	2012	45
1967	Cumberland	RI		—		2,630		19,050		770		2,630		19,473		22,103		(2,704)	2011	30
1959	East Providence	RI		14,715		1,890		13,989		1,158		1,890		14,894		16,784		(2,125)	2011	30
1960	Greenwich	RI		8,059		450		11,845		1,313		450		12,893		13,343		(1,900)	2011	30
1972	Smithfield	RI		—		1,250		17,816		653		1,250		18,134		19,384		(2,610)	2011	30
1973	South Kingstown	RI		—		1,390		12,551		630		1,390		12,918		14,308		(1,766)	2011	30
1975	Tiverton	RI		—		3,240		25,735		651		3,240		25,955		29,195		(3,520)	2011	30
1962	Warwick	RI		14,399		1,050		17,389		1,668		1,050		18,701		19,751		(2,792)	2011	30
1104	Aiken	SC		—		357		14,832		151		363		14,471		14,834		(3,044)	2006	40
1100	Charleston	SC		—		885		14,124		292		896		14,075		14,971		(2,988)	2006	40
1109	Columbia	SC		—		408		7,527		131		412		7,458		7,870		(1,581)	2006	40
2154	Florence	SC		—		255		4,052		—		255		4,052		4,307		(326)	2012	45
0306	Georgetown	SC		—		239		3,008		—		239		3,008		3,247		(1,036)	1998	45
0879	Greenville	SC		—		1,090		12,558		—		1,090		12,058		13,148		(2,437)	2006	40
1172	Greenville	SC		—		993		16,314		437		1,006		15,838		16,844		(3,300)	2006	40
2059	Greenville	SC		—		149		3,827		—		149		3,827		3,976		(306)	2012	45
2099	Hilton Head Island	SC		—		828		6,285		—		828		6,285		7,113		(482)	2012	45
2111	Hilton Head Island	SC		—		1,107		1,873		—		1,107		1,873		2,980		(183)	2012	45
2112	Hilton Head Island	SC		—		621		2,234		—		621		2,234		2,855		(204)	2012	45
0305	Lancaster	SC		—		84		2,982		—		84		2,982		3,066		(943)	1998	45
0880	Myrtle Beach	SC		—		900		10,913		—		900		10,513		11,413		(2,124)	2006	40
0312	Rock Hill	SC		—		203		2,671		—		203		2,671		2,874		(900)	1998	45
1113	Rock Hill	SC		—		695		4,119		322		795		4,126		4,921		(972)	2006	40
2076	Rock Hill	SC		—		919		14,741		—		919		14,741		15,660		(939)	2012	45
2093	Rock Hill	SC		—		503		4,281		—		503		4,281		4,784		(304)	2012	45
0313	Sumter	SC		—		196		2,623		—		196		2,623		2,819		(904)	1998	45
2067	West Columbia	SC		—		220		2,662		—		220		2,662		2,882		(242)	2012	45
2132	Cordova	TN		—		2,167		5,829		—		2,167		5,829		7,996		(431)	2012	45
2060	Franklin	TN		—		2,475		27,337		—		2,475		27,337		29,812		(1,591)	2012	45
2385	Hendersonville	TN		—		1,298		2,464		—		1,298		2,464		3,762		(249)	2012	45
2073	Kingsport	TN		—		1,113		8,625		—		1,113		8,625		9,738		(560)	2012	45
2381	Memphis	TN		—		1,315		9,787		—		1,315		9,787		11,102		(553)	2012	45
1003	Nashville	TN		10,860		812		16,983		2,524		812		18,759		19,571		(3,223)	2006	40
2094	Nashville	TN		—		1,444		14,436		—		1,444		14,436		15,880		(833)	2012	45
0860	Oak Ridge	TN		—		500		4,741		—		500		4,641		5,141		(1,094)	2006	35
0843	Abilene	TX		—		300		2,830		—		300		2,710		3,010		(582)	2006	39


									Costs											Life on Which
									Capitalized		Gross Amount at Which Carried									Depreciation in
					Initial Cost to Company				Subsequent		As of December 31, 2014								Year	Latest Income
		State/	Encumbrances at				Buildings and		to				Buildings and				Accumulated		Acquired/	Statement is
City		Country	December 31, 2014		Land		Improvements		Acquisition		Land		Improvements		Total(1)		Depreciation		Constructed	Computed
2107	Amarillo	TX		—		1,315		26,838		—		1,315		26,838		28,153		(1,530)	2012	45
1004	Arlington	TX		13,896		2,002		19,110		—		2,002		18,729		20,731		(3,594)	2006	40
1116	Arlington	TX		—		2,494		12,192		249		2,540		11,873		14,413		(2,528)	2006	40
0511	Austin	TX		—		2,960		41,645		—		2,960		41,645		44,605		(15,617)	2002	30
2377	Austin	TX		—		2,860		17,359		497		2,973		17,743		20,716		(4,139)	2010	45
0202	Beaumont	TX		—		145		10,404		—		145		10,020		10,165		(3,989)	1996	45
2075	Bedford	TX		—		1,204		26,845		—		1,204		26,845		28,049		(1,532)	2012	45
0844	Burleson	TX		—		1,050		5,242		—		1,050		4,902		5,952		(1,052)	2006	40
0848	Cedar Hill	TX		—		1,070		11,554		—		1,070		11,104		12,174		(2,383)	2006	40
1325	Cedar Hill	TX		—		440		7,494		—		440		6,974		7,414		(1,351)	2007	40
2396	Dallas	TX		—		2,120		8,986		—		2,120		8,986		11,106		(602)	2012	45
0513	Fort Worth	TX		—		2,830		50,832		—		2,830		50,832		53,662		(19,062)	2002	30
0506	Friendswood	TX		—		400		7,354		—		400		7,354		7,754		(2,043)	2002	45
0217	Houston	TX		—		835		7,195		—		835		7,195		8,030		(2,721)	1997	45
0491	Houston	TX		—		2,470		21,710		750		2,470		22,460		24,930		(8,327)	2002	35
1106	Houston	TX		—		1,008		15,333		183		1,020		15,098		16,118		(3,173)	2006	40
1111	Houston	TX		—		1,877		25,372		247		1,961		24,491		26,452		(5,138)	2006	40
1955	Houston	TX		48,357		9,820		50,079		5,470		9,820		54,263		64,083		(7,715)	2011	30
1957	Houston	TX		31,758		8,170		37,285		3,233		8,170		39,697		47,867		(5,526)	2011	30
1958	Houston	TX		29,241		2,910		37,443		3,672		2,910		40,224		43,134		(5,659)	2011	30
2068	Houston	TX		—		985		18,824		—		985		18,824		19,809		(1,086)	2012	45
0820	Irving	TX		—		710		9,949		—		710		9,359		10,069		(2,407)	2005	35
2394	Kerrville	TX		—		1,459		33,407		—		1,459		33,407		34,866		(2,011)	2012	45
2389	Lubbock	TX		—		1,143		4,656		—		1,143		4,656		5,799		(361)	2012	45
0845	North Richland Hills	TX		—		520		5,117		—		520		4,807		5,327		(1,032)	2006	40
0846	North Richland Hills	TX		—		870		9,259		—		870		8,819		9,689		(2,163)	2006	35
2113	North Richland Hills	TX		—		909		11,337		—		909		11,337		12,246		(656)	2012	45
1102	Plano	TX		—		494		12,518		145		505		12,247		12,752		(2,574)	2006	40
2379	Plano	TX		—		590		6,930		—		590		6,930		7,520		(470)	2012	45
2162	Portland	TX		—		1,233		14,001		—		1,233		14,001		15,234		(940)	2012	45
0494	San Antonio	TX		7,623		730		3,961		—		730		3,961		4,691		(1,122)	2002	45
2378	San Antonio	TX		—		2,860		17,030		282		2,880		17,292		20,172		(4,014)	2010	45
2116	Sherman	TX		—		209		3,492		—		209		3,492		3,701		(251)	2012	45
1954	Sugar Land	TX		31,275		3,420		36,846		3,071		3,420		39,246		42,666		(5,576)	2011	30
1103	The Woodlands	TX		—		802		17,358		228		869		17,071		17,940		(3,597)	2006	40
0195	Victoria	TX		12,337		175		4,290		3,101		175		7,018		7,193		(2,184)	1995	43
0847	Waxahachie	TX		—		390		3,879		—		390		3,659		4,049		(785)	2006	40
1953	Webster	TX		29,882		4,780		30,854		2,798		4,780		32,994		37,774		(4,764)	2011	30
2069	Cedar City	UT		—		437		8,706		—		437		8,706		9,143		(520)	2012	45
2368	Salt Lake City	UT		—		2,621		22,072		287		2,654		21,371		24,025		(4,456)	2006	45
2386	St. George	UT		—		683		9,436		—		683		9,436		10,119		(586)	2012	45
1244	Arlington	VA		—		3,833		7,076		239		3,833		7,078		10,911		(1,495)	2006	40
1245	Arlington	VA		—		7,278		37,407		445		7,278		36,967		44,245		(7,727)	2006	40
2360	Arlington	VA		—		4,320		19,567		455		4,320		19,444		23,764		(4,194)	2006	45
0881	Chesapeake	VA		—		1,090		12,444		—		1,090		11,944		13,034		(2,414)	2006	40
1247	Falls Church	VA		—		2,228		8,887		203		2,228		8,875		11,103		(1,879)	2006	40
1164	Fort Belvoir	VA		—		11,594		99,528		7,496		11,594		105,026		116,620		(22,506)	2006	40
1250	Leesburg	VA		—		607		3,236		120		607		3,210		3,817		(2,421)	2006	35
2361	Richmond	VA		—		2,110		11,469		281		2,110		11,324		13,434		(2,413)	2006	45
1246	Sterling	VA		—		2,360		22,932		555		2,360		22,973		25,333		(4,851)	2006	40
2077	Sterling	VA		—		1,046		15,788		—		1,046		15,788		16,834		(883)	2012	45
0225	Woodbridge	VA		—		950		6,983		—		950		6,983		7,933		(2,520)	1997	45
1173	Bellevue	WA		—		3,734		16,171		210		3,737		15,813		19,550		(3,300)	2006	40
2095	College Place	WA		—		758		8,051		—		758		8,051		8,809		(555)	2012	45
1240	Edmonds	WA		—		1,418		16,502		71		1,418		16,102		17,520		(3,338)	2006	40
2172	Ellensburg	WA		—		759		5,699		—		759		5,699		6,458		(488)	2012	40
2160	Kenmore	WA		—		3,284		16,641		—		3,284		16,641		19,925		(955)	2012	45
0797	Kirkland	WA		—		1,000		13,403		—		1,000		13,043		14,043		(3,071)	2005	40
1174	Lynnwood	WA		—		1,203		7,415		326		1,203		7,741		8,944		(3,524)	2006	40
1251	Mercer Island	WA		—		4,209		8,123		318		4,209		8,236		12,445		(1,854)	2006	40
2141	Moses Lake	WA		—		429		4,417		—		429		4,417		4,846		(414)	2012	50
2096	Poulsbo	WA		—		1,801		18,068		—		1,801		18,068		19,869		(1,120)	2012	45
2102	Richland	WA		—		249		5,067		—		249		5,067		5,316		(301)	2012	45
0794	Shoreline	WA		8,755		1,590		10,671		—		1,590		10,261		11,851		(2,416)	2005	40
0795	Shoreline	WA		—		4,030		26,421		—		4,030		25,651		29,681		(5,966)	2005	39
1175	Snohomish	WA		—		1,541		10,228		195		1,541		10,164		11,705		(4,023)	2006	40
2097	Spokane	WA		—		903		5,363		—		903		5,363		6,266		(433)	2012	45
2061	Vancouver	WA		—		513		4,556		—		513		4,556		5,069		(347)	2012	45
2062	Vancouver	WA		—		1,498		9,997		—		1,498		9,997		11,495		(597)	2012	45
2052	Yakima	WA		—		557		5,897		—		557		5,897		6,454		(375)	2012	50
2078	Yakima	WA		—		353		5,668		—		353		5,668		6,021		(325)	2012	45
2114	Yakima	WA		—		721		8,872		—		721		8,872		9,593		(605)	2012	45
2382	Appleton	WI		—		182		12,581		—		182		12,581		12,763		(733)	2012	45
2170	Madison	WI		—		834		10,050		—		834		10,050		10,884		(672)	2012	40
2398	Stevens Point	WI		—		801		16,687		—		801		16,687		17,488		(763)	2012	45
2117	Bridgeport	WV		—		3,174		15,437		—		3,174		15,437		18,611		(1,211)	2012	45
2125	Bridgeport	WV		—		3,280		4,181		—		3,280		4,181		7,461		(406)	2012	45
2142	Cody	WY		—		708		9,926		—		708		9,926		10,634		(521)	2012	50
2148	Sheridan	WY		—		915		12,047		—		915		12,047		12,962		(750)	2012	45
United Kingdom
2216	Alderley Edge	UK		—		1,442		10,047		—		1,442		10,047		11,489		(123)	2014	60
2217	Alderley Edge	UK		—		1,403		7,867		—		1,403		7,867		9,270		(101)	2014	60
2206	Bangor	UK		—		444		2,378		—		444		2,378		2,822		(40)	2014	50
2214	Barnsley	UK		—		1,150		1,948		—		1,150		1,948		3,098		(60)	2014	50
2207	Batley	UK		—		748		3,691		—		748		3,691		4,439		(85)	2014	45
2223	Catterick Garrison	UK		—		920		1,690		—		920		1,690		2,610		(55)	2014	50
2226	Chester	UK		—		608		5,880		—		608		5,880		6,488		(24)	2014	50
2208	Elstead	UK		—		1,029		3,527		—		1,029		3,527		4,556		(65)	2014	45
2213	Ilkley	UK		—		1,099		2,902		—		1,099		2,902		4,001		(76)	2014	45
2222	Knebworth	UK		—		959		6,985		—		959		6,985		7,944		(108)	2014	50
2215	Leeds	UK		—		580		917		—		580		917		1,497		(37)	2014	45
2228	Leeds	UK		—		524		3,879		—		524		3,879		4,403		(20)	2014	50


									Costs											Life on Which
									Capitalized		Gross Amount at Which Carried									Depreciation in
					Initial Cost to Company				Subsequent		As of December 31, 2014								Year	Latest Income
			Encumbrances at				Buildings and		to				Buildings and				Accumulated		Acquired/	Statement is
City		State	December 31, 2014		Land		Improvements		Acquisition		Land		Improvements		Total(1)		Depreciation		Constructed	Computed
2210	Macclesfield	UK		—		631		8,191		—		631		8,191		8,822		(127)	2014	45
2211	Macclesfield	UK		—		655		4,976		—		655		4,976		5,631		(67)	2014	60
2218	Nantwich	UK		—		1,146		7,479		—		1,146		7,479		8,625		(106)	2014	60
2219	Ripon	UK		—		218		1,044		—		218		1,044		1,262		(24)	2014	45
2221	Stockport	UK		—		398		1,867		—		398		1,867		2,265		(33)	2014	50
2227	Stockport	UK		—		795		4,567		—		795		4,567		5,362		(19)	2014	60
2224	Stockton-On-Tees	UK		—		337		2,403		—		337		2,403		2,740		(45)	2014	50
2209	Tadworht	UK		—		1,201		4,475		—		1,201		4,475		5,676		(76)	2014	45
2220	Thornton-Clevele	UK		—		1,052		5,262		—		1,052		5,262		6,314		(90)	2014	50
2225	Wadebridge	UK		—		343		7,097		—		343		7,097		7,440		(97)	2014	50
2212	York	UK		—		505		646		—		505		646		1,151		(25)	2014	50
			$	764,523	$	632,398	$	5,175,389	$	163,820	$	634,035	$	5,246,484	$	5,880,519	$	(876,836)
Post-acute/skilled nursing
0002	Fort Collins	CO		—		499		1,913		1,454		499		3,114		3,613		(3,114)	1985	25
0018	Morrison	CO		—		1,429		5,464		4,019		1,429		8,758		10,187		(8,613)	1985	24
0280	Statesboro	GA		—		168		1,508		—		168		1,509		1,677		(907)	1992	25
0297	Rexburg	ID		—		200		5,310		—		200		5,057		5,257		(2,383)	1998	35
0378	Anderson	IN		—		500		4,724		10,341		1,166		13,998		15,164		(2,628)	1999	35
0384	Angola	IN		—		130		2,900		2,791		130		5,691		5,821		(1,520)	1999	35
0385	Fort Wayne	IN		—		200		4,150		2,667		200		6,817		7,017		(2,298)	1999	38
0386	Fort Wayne	IN		—		140		3,760		—		140		3,760		3,900		(1,629)	1999	35
0387	Huntington	IN		—		30		2,970		338		30		3,308		3,338		(1,346)	1999	35
0373	Kokomo	IN		—		250		4,622		1,294		250		5,653		5,903		(1,716)	1999	45
0454	New Albany	IN		—		230		6,595		—		230		6,595		6,825		(2,591)	2001	35
0484	Tell City	IN		—		95		6,208		1,299		95		7,509		7,604		(2,140)	2001	45
0688	Cynthiana	KY		—		192		4,875		—		192		4,875		5,067		(1,205)	2004	40
0298	Franklin	LA		—		405		3,424		—		405		3,424		3,829		(2,029)	1998	25
0299	Morgan City	LA		—		203		2,050		—		203		2,050		2,253		(1,214)	1998	25
0388	Las Vegas	NV		—		1,300		3,950		5,124		1,300		9,074		10,374		(2,091)	1999	35
0389	Las Vegas	NV		—		1,300		5,800		—		1,300		5,800		7,100		(2,513)	1999	35
0390	Fairborn	OH		—		250		4,850		—		250		4,850		5,100		(2,102)	1999	35
0391	Georgetown	OH		—		130		4,970		—		130		4,970		5,100		(2,154)	1999	35
0392	Port Clinton	OH		—		370		3,630		—		370		3,630		4,000		(1,573)	1999	35
0393	Springfield	OH		—		250		3,950		2,113		250		6,063		6,313		(2,029)	1999	35
0394	Toledo	OH		—		120		5,130		—		120		5,130		5,250		(2,223)	1999	35
0395	Versailles	OH		—		120		4,980		—		120		4,980		5,100		(2,158)	1999	35
0285	Fort Worth	TX		—		243		2,036		269		243		2,305		2,548		(1,380)	1998	25
0296	Ogden	UT		—		250		4,685		—		250		4,432		4,682		(2,067)	1998	35
0681	Fishersville	VA		—		751		7,734		—		751		7,220		7,971		(1,931)	2004	40
0682	Floyd	VA		—		309		2,263		—		309		1,893		2,202		(805)	2004	25
0689	Independence	VA		—		206		8,366		—		206		7,810		8,016		(2,066)	2004	40
0683	Newport News	VA		—		535		6,192		—		535		5,719		6,254		(1,529)	2004	40
0684	Roanoke	VA		—		586		7,159		—		586		6,696		7,282		(1,789)	2004	40
0685	Staunton	VA		—		422		8,681		—		422		8,136		8,558		(2,173)	2004	40
0686	Williamsburg	VA		—		699		4,886		—		699		4,464		5,163		(1,195)	2004	40
0690	Windsor	VA		—		319		7,543		—		319		7,018		7,337		(1,857)	2004	40
0687	Woodstock	VA		—		603		5,395		9		605		4,989		5,594		(1,335)	2004	40
			$	—	$	13,434	$	162,673	$	31,718	$	14,102	$	187,297	$	201,399	$	(70,303)
Life science
1482	Brisbane	CA		—		50,989		1,789		39,927		50,989		41,716		92,705		—	2007	**
1481	Carlsbad	CA		—		30,300		—		7,731		30,300		7,731		38,031		—	2007	**
1522	Carlsbad	CA		—		23,475		—		2,821		23,475		2,821		26,296		—	2007	**
1401	Hayward	CA		—		900		7,100		915		900		8,015		8,915		(1,667)	2007	40
1402	Hayward	CA		—		1,500		6,400		3,682		1,719		9,863		11,582		(2,475)	2007	40
1403	Hayward	CA		—		1,900		7,100		1,362		1,900		8,208		10,108		(1,323)	2007	40
1404	Hayward	CA		—		2,200		17,200		12		2,200		17,212		19,412		(3,192)	2007	40
1405	Hayward	CA		—		1,000		3,200		7,478		1,000		10,678		11,678		(3,849)	2007	40
1549	Hayward	CA		—		1,006		4,259		1,602		1,055		5,694		6,749		(2,043)	2007	29
1550	Hayward	CA		—		677		2,761		5,302		710		7,976		8,686		(2,082)	2007	29
1551	Hayward	CA		—		661		1,995		4,253		693		6,216		6,909		(1,402)	2007	29
1552	Hayward	CA		—		1,187		7,139		1,310		1,223		8,113		9,336		(2,019)	2007	29
1553	Hayward	CA		—		1,189		9,465		1,478		1,225		10,908		12,133		(2,603)	2007	29
1554	Hayward	CA		—		1,246		5,179		1,867		1,283		7,008		8,291		(2,491)	2007	29
1555	Hayward	CA		—		1,521		13,546		5,890		1,566		19,391		20,957		(3,840)	2007	29
1556	Hayward	CA		—		1,212		5,120		3,049		1,248		7,795		9,043		(2,542)	2007	29
1424	La Jolla	CA		—		9,600		25,283		6,603		9,648		30,900		40,548		(6,190)	2007	40
1425	La Jolla	CA		—		6,200		19,883		125		6,276		19,931		26,207		(3,739)	2007	40
1426	La Jolla	CA		—		7,200		12,412		4,377		7,291		16,697		23,988		(5,466)	2007	27
1427	La Jolla	CA		—		8,700		16,983		3,787		8,746		20,723		29,469		(4,775)	2007	30
1947	La Jolla	CA		11,777		2,581		10,534		139		2,581		10,673		13,254		(1,407)	2011	30
1949	La Jolla	CA		7,765		2,686		11,045		575		2,686		11,620		14,306		(1,823)	2011	30
2229	La Jolla	CA		—		8,753		32,528		794		8,753		33,323		42,076		(465)	2014	35
1488	Mountain View	CA		—		7,300		25,410		1,901		7,567		27,044		34,611		(5,164)	2007	40
1489	Mountain View	CA		—		6,500		22,800		1,866		6,500		24,666		31,166		(4,736)	2007	40
1490	Mountain View	CA		—		4,800		9,500		442		4,800		9,942		14,742		(1,938)	2007	40
1491	Mountain View	CA		—		4,200		8,400		1,249		4,209		8,998		13,207		(1,698)	2007	40
1492	Mountain View	CA		—		3,600		9,700		730		3,600		9,703		13,303		(1,799)	2007	40
1493	Mountain View	CA		—		7,500		16,300		1,904		7,500		17,603		25,103		(3,366)	2007	40
1494	Mountain View	CA		—		9,800		24,000		203		9,800		24,203		34,003		(4,523)	2007	40
1495	Mountain View	CA		—		6,900		17,800		3,245		6,900		21,045		27,945		(4,034)	2007	40
1496	Mountain View	CA		—		7,000		17,000		6,364		7,000		23,364		30,364		(7,780)	2007	40
1497	Mountain View	CA		—		14,100		31,002		10,111		14,100		41,113		55,213		(12,957)	2007	40
1498	Mountain View	CA		—		7,100		25,800		8,101		7,100		33,901		41,001		(10,226)	2013	40
2017	Mountain View	CA		—		—		20,350		1,007		—		21,357		21,357		(1,494)	2004	40
1470	Poway	CA		—		5,826		12,200		5,826		5,826		18,026		23,852		(6,559)	2007	40
1471	Poway	CA		—		5,978		14,200		4,253		5,978		18,453		24,431		(5,481)	2007	40
1472	Poway	CA		—		8,654		—		12,005		8,654		12,005		20,659		(68)	2007	40
1473	Poway	CA		—		17,146		2,405		2,229		17,146		4,634		21,780		—	2007	**
1477	Poway	CA		—		29,943		2,475		17,799		29,943		20,273		50,216		—	2007	**
1478	Poway	CA		—		6,700		14,400		6,145		6,700		20,545		27,245		(8,106)	2007	40
1499	Redwood City	CA		—		3,400		5,500		1,435		3,407		6,395		9,802		(1,497)	2007	40


									Costs											Life on Which
									Capitalized		Gross Amount at Which Carried									Depreciation in
					Initial Cost to Company				Subsequent		As of December 31, 2014								Year	Latest Income
			Encumbrances at				Buildings and		to				Buildings and				Accumulated		Acquired/	Statement is
City		State	December 31, 2014		Land		Improvements		Acquisition		Land		Improvements		Total(1)		Depreciation		Constructed	Computed
1500	Redwood City	CA		—		2,500		4,100		1,220		2,506		5,314		7,820		(1,671)	2007	40
1501	Redwood City	CA		—		3,600		4,600		860		3,607		5,453		9,060		(1,436)	2007	30
1502	Redwood City	CA		—		3,100		5,100		843		3,107		5,690		8,797		(1,341)	2007	31
1503	Redwood City	CA		—		4,800		17,300		3,280		4,818		20,562		25,380		(4,065)	2007	31
1504	Redwood City	CA		—		5,400		15,500		930		5,418		16,412		21,830		(2,999)	2007	31
1505	Redwood City	CA		—		3,000		3,500		635		3,006		4,129		7,135		(1,254)	2007	40
1506	Redwood City	CA		—		6,000		14,300		3,947		6,018		17,622		23,640		(3,142)	2007	40
1507	Redwood City	CA		—		1,900		12,800		13,463		1,912		26,251		28,163		(2,386)	2007	39
1508	Redwood City	CA		—		2,700		11,300		12,170		2,712		23,458		26,170		(2,318)	2007	39
1509	Redwood City	CA		—		2,700		10,900		6,937		2,712		17,825		20,537		(3,474)	2007	40
1510	Redwood City	CA		—		2,200		12,000		5,203		2,212		17,192		19,404		(4,377)	2007	38
1511	Redwood City	CA		—		2,600		9,300		1,764		2,612		10,645		13,257		(1,995)	2007	26
1512	Redwood City	CA		—		3,300		18,000		10,750		3,300		28,750		32,050		(3,354)	2007	40
1513	Redwood City	CA		—		3,300		17,900		11,904		3,300		29,804		33,104		(3,338)	2007	40
0679	San Diego	CA		—		7,872		34,617		17,748		8,272		51,218		59,490		(14,487)	2002	39
0837	San Diego	CA		—		4,630		2,029		8,967		4,630		10,996		15,626		(3,317)	2006	31
0838	San Diego	CA		—		2,040		902		4,975		2,040		5,878		7,918		(1,070)	2006	40
0839	San Diego	CA		—		3,940		3,184		4,942		3,951		4,897		8,848		(904)	2006	40
0840	San Diego	CA		—		5,690		4,579		686		5,703		4,826		10,529		(1,033)	2006	*
1418	San Diego	CA		—		11,700		31,243		6,370		11,700		37,613		49,313		(8,470)	2007	40
1420	San Diego	CA		—		6,524		—		3,599		6,524		3,601		10,125		—	2007	**
1421	San Diego	CA		—		7,000		33,779		5		7,000		33,784		40,784		(6,263)	2007	40
1422	San Diego	CA		—		7,179		3,687		855		7,184		4,537		11,721		(1,094)	2007	30
1423	San Diego	CA		—		8,400		33,144		18		8,400		33,162		41,562		(6,146)	2007	40
1514	San Diego	CA		—		5,200		—		—		5,200		—		5,200		—	2007	**
1558	San Diego	CA		—		7,740		22,654		2,134		7,888		24,639		32,527		(4,779)	2007	38
1948	San Diego	CA		24,313		5,879		25,305		1,884		5,879		27,189		33,068		(3,669)	2011	30
1950	San Diego	CA		912		884		2,796		—		884		2,796		3,680		(373)	2011	30
2197	San Diego	CA		—		7,621		3,913		3,750		7,626		7,658		15,284		(1,934)	2010	33
1407	South San Francisco	CA		—		28,600		48,700		11,974		28,600		60,292		88,892		(13,794)	2007	35
1408	South San Francisco	CA		—		9,000		17,800		1,023		9,000		18,823		27,823		(3,630)	2007	40
1409	South San Francisco	CA		—		18,000		38,043		685		18,000		38,729		56,729		(7,102)	2007	40
1410	South San Francisco	CA		—		4,900		18,100		157		4,900		18,257		23,157		(3,389)	2007	40
1411	South San Francisco	CA		—		8,000		27,700		313		8,000		28,014		36,014		(5,164)	2007	40
1412	South San Francisco	CA		—		10,100		22,521		239		10,100		22,760		32,860		(4,288)	2007	40
1413	South San Francisco	CA		—		8,000		28,299		252		8,000		28,550		36,550		(5,272)	2007	40
1414	South San Francisco	CA		—		3,700		20,800		203		3,700		21,003		24,703		(3,952)	2007	40
1430	South San Francisco	CA		—		10,700		23,621		325		10,700		23,945		34,645		(4,442)	2007	40
1431	South San Francisco	CA		—		7,000		15,500		157		7,000		15,657		22,657		(2,889)	2007	40
1435	South San Francisco	CA		—		13,800		42,500		32,936		13,800		75,436		89,236		(11,538)	2008	40
1436	South San Francisco	CA		—		14,500		45,300		34,087		14,500		79,387		93,887		(12,074)	2008	40
1437	South San Francisco	CA		—		9,400		24,800		44,080		9,400		68,879		78,279		(5,308)	2008	40
1439	South San Francisco	CA		—		11,900		68,848		70		11,900		68,918		80,818		(12,773)	2007	40
1440	South San Francisco	CA		—		10,000		57,954		—		10,000		57,954		67,954		(10,746)	2007	40
1441	South San Francisco	CA		—		9,300		43,549		—		9,300		43,549		52,849		(8,075)	2007	40
1442	South San Francisco	CA		—		11,000		47,289		81		11,000		47,370		58,370		(8,804)	2007	40
1443	South San Francisco	CA		—		13,200		60,932		1,158		13,200		62,090		75,290		(10,833)	2007	40
1444	South San Francisco	CA		—		10,500		33,776		352		10,500		34,127		44,627		(6,358)	2007	40
1445	South San Francisco	CA		—		10,600		34,083		—		10,600		34,083		44,683		(6,320)	2007	40
1448	South San Francisco	CA		—		14,100		71,344		52		14,100		71,396		85,496		(13,237)	2007	40
1449	South San Francisco	CA		—		12,800		63,600		472		12,800		64,072		76,872		(11,956)	2007	40
1450	South San Francisco	CA		—		11,200		79,222		20		11,200		79,242		90,442		(14,692)	2007	40
1451	South San Francisco	CA		—		7,200		50,856		66		7,200		50,922		58,122		(9,440)	2007	40
1452	South San Francisco	CA		—		14,400		101,362		(115)		14,400		101,247		115,647		(18,762)	2007	40
1454	South San Francisco	CA		—		11,100		47,738		9,369		11,100		57,108		68,208		(12,697)	2008	40
1455	South San Francisco	CA		—		9,700		41,937		5,835		10,261		47,211		57,472		(9,986)	2008	40
1456	South San Francisco	CA		—		6,300		22,900		8,196		6,300		31,096		37,396		(7,053)	2008	40
1458	South San Francisco	CA		—		10,900		20,900		6,505		10,909		27,197		38,106		(8,108)	2007	40
1459	South San Francisco	CA		—		3,600		100		195		3,600		296		3,896		(94)	2007	**
1460	South San Francisco	CA		—		2,300		100		105		2,300		205		2,505		(100)	2007	**
1461	South San Francisco	CA		—		3,900		200		196		3,900		397		4,297		(200)	2007	**
1462	South San Francisco	CA		—		7,117		600		4,911		7,117		5,163		12,280		(1,246)	2007	40
1463	South San Francisco	CA		—		10,381		2,300		17,839		10,381		20,139		30,520		(2,578)	2007	40
1464	South San Francisco	CA		—		7,403		700		11,664		7,403		12,363		19,766		(1,420)	2007	40
1468	South San Francisco	CA		—		10,100		24,013		4,774		10,100		26,642		36,742		(4,680)	2007	40
1480	South San Francisco	CA		—		32,210		3,110		11,177		32,210		14,287		46,497		—	2007	**
1559	South San Francisco	CA		—		5,666		5,773		1,136		5,695		6,811		12,506		(5,892)	2007	5
1560	South San Francisco	CA		—		1,204		1,293		219		1,210		1,491		2,701		(1,305)	2007	5
1982	South San Francisco	CA		—		64,900		—		22,638		64,900		22,639		87,539		—	2011	**
1604	Cambridge	MA		—		8,389		10,630		27,596		8,389		38,226		46,615		(2,013)	2010	30
2011	Durham	NC		8,040		448		6,152		21,349		448		27,502		27,950		(1,166)	2011	30
2030	Durham	NC		—		1,920		5,661		32,603		1,920		38,265		40,185		(1,416)	2012	30
0461	Salt Lake City	UT		—		500		8,548		—		500		8,548		9,048		(3,422)	2001	33
0462	Salt Lake City	UT		—		890		15,623		—		890		15,624		16,514		(5,504)	2001	38
0463	Salt Lake City	UT		—		190		9,875		—		190		9,875		10,065		(2,989)	2001	43
0464	Salt Lake City	UT		—		630		6,921		62		630		6,984		7,614		(2,526)	2001	38
0465	Salt Lake City	UT		—		125		6,368		68		125		6,436		6,561		(1,935)	2001	43
0466	Salt Lake City	UT		—		—		14,614		7		—		14,621		14,621		(3,890)	2001	43
0507	Salt Lake City	UT		—		280		4,345		226		280		4,572		4,852		(1,291)	2002	43
0537	Salt Lake City	UT		—		—		6,517		—		—		6,517		6,517		(1,905)	2002	35
0799	Salt Lake City	UT		—		—		14,600		90		—		14,690		14,690		(2,874)	2005	40
1593	Salt Lake City	UT		—		—		23,998		—		—		23,998		23,998		(3,212)	2010	33
			$	52,807	$	944,582	$	2,250,610	$	637,080	$	946,976	$	2,871,988	$	3,818,964	$	(531,848)
Medical office
0638	Anchorage	AK		—		1,456		10,650		8,287		1,456		18,884		20,340		(2,884)	2006	30
0520	Chandler	AZ		—		3,669		13,503		2,266		3,669		15,519		19,188		(4,286)	2002	40
2040	Mesa	AZ		—		—		17,314		440		—		17,755		17,755		(1,045)	2012	45
0468	Oro Valley	AZ		—		1,050		6,774		918		1,050		7,116		8,166		(2,155)	2001	43
0356	Phoenix	AZ		—		780		3,199		1,126		780		3,599		4,379		(1,609)	1999	32
0470	Phoenix	AZ		—		280		877		48		280		925		1,205		(291)	2001	43
1066	Scottsdale	AZ		—		5,115		14,064		2,970		4,791		16,844		21,635		(3,841)	2006	40
2021	Scottsdale	AZ		—		—		12,312		766		—		13,078		13,078		(1,500)	2012	25


									Costs											Life on Which
									Capitalized		Gross Amount at Which Carried									Depreciation in
					Initial Cost to Company				Subsequent		As of December 31, 2014								Year	Latest Income
			Encumbrances at				Buildings and		to				Buildings and				Accumulated		Acquired/	Statement is
City		State	December 31, 2014		Land		Improvements		Acquisition		Land		Improvements		Total(1)		Depreciation		Constructed	Computed
2022	Scottsdale	AZ		—		—		9,179		237		—		9,416		9,416		(1,260)	2012	25
2023	Scottsdale	AZ		—		—		6,398		392		—		6,790		6,790		(727)	2012	25
2024	Scottsdale	AZ		—		—		9,522		503		—		10,025		10,025		(997)	2012	25
2025	Scottsdale	AZ		—		—		4,102		822		—		4,924		4,924		(621)	2012	25
2026	Scottsdale	AZ		—		—		3,655		388		—		4,042		4,042		(406)	2012	25
2027	Scottsdale	AZ		—		—		7,168		669		—		7,837		7,837		(840)	2012	25
2028	Scottsdale	AZ		—		—		6,659		661		—		7,320		7,320		(755)	2012	25
0453	Tucson	AZ		—		215		6,318		1,052		326		6,974		7,300		(2,749)	2000	35
0556	Tucson	AZ		—		215		3,940		657		267		4,117		4,384		(1,037)	2003	43
1041	Brentwood	CA		—		—		30,864		2,362		187		32,843		33,030		(7,099)	2006	40
1200	Encino	CA		—		6,151		10,438		3,075		6,535		12,893		19,428		(3,687)	2006	33
0436	Murietta	CA		—		400		9,266		2,544		578		10,736		11,314		(4,497)	1999	33
0239	Poway	CA		—		2,700		10,839		2,354		2,872		11,670		14,542		(5,705)	1997	35
0318	Sacramento	CA		—		2,860		21,850		13,977		2,860		34,980		37,840		(6,278)	1998	*
0234	San Diego	CA		—		2,848		5,879		1,435		3,009		5,303		8,312		(2,851)	1997	21
0235	San Diego	CA		—		2,863		8,913		2,913		3,068		9,605		12,673		(5,402)	1997	21
0236	San Diego	CA		—		4,619		19,370		3,901		4,711		17,887		22,598		(9,516)	1997	21
0421	San Diego	CA		—		2,910		17,362		11,144		2,910		28,506		31,416		(5,854)	1999	22
0564	San Jose	CA		2,764		1,935		1,728		1,774		1,935		3,065		5,000		(1,237)	2003	37
0565	San Jose	CA		6,436		1,460		7,672		495		1,460		8,161		9,621		(2,677)	2003	37
0659	San Jose	CA		—		1,718		3,124		577		1,718		3,618		5,336		(920)	2000	34
1209	Sherman Oaks	CA		—		7,472		10,075		3,755		7,904		13,164		21,068		(4,966)	2006	22
0439	Valencia	CA		—		2,300		6,967		1,512		2,390		7,018		9,408		(3,089)	1999	35
1211	Valencia	CA		—		1,344		7,507		614		1,383		7,941		9,324		(1,734)	2006	40
0440	West Hills	CA		—		2,100		11,595		2,273		2,156		10,868		13,024		(4,708)	1999	32
0728	Aurora	CO		—		—		8,764		2,226		—		10,991		10,991		(4,041)	2005	39
1196	Aurora	CO		—		210		12,362		1,456		210		13,672		13,882		(3,143)	2006	40
1197	Aurora	CO		—		200		8,414		921		200		9,232		9,432		(2,538)	2006	33
0882	Colorado Springs	CO		—		—		12,933		9,640		—		21,901		21,901		(4,899)	2006	40
0814	Conifer	CO		—		—		1,485		35		13		1,508		1,521		(357)	2005	40
1199	Denver	CO		—		493		7,897		1,690		558		9,494		10,052		(2,318)	2006	33
0808	Englewood	CO		—		—		8,616		6,815		11		14,696		14,707		(3,282)	2005	35
0809	Englewood	CO		—		—		8,449		3,022		—		10,863		10,863		(3,167)	2005	35
0810	Englewood	CO		—		—		8,040		4,786		—		12,421		12,421		(4,022)	2005	35
0811	Englewood	CO		—		—		8,472		2,483		—		10,593		10,593		(3,123)	2005	35
0812	Littleton	CO		—		—		4,562		1,970		256		5,996		6,252		(1,824)	2005	35
0813	Littleton	CO		—		—		4,926		1,360		5		6,115		6,120		(1,737)	2005	38
0570	Lone Tree	CO		—		—		—		18,968		—		18,551		18,551		(4,979)	2003	39
0666	Lone Tree	CO		—		—		23,274		2,102		—		25,188		25,188		(5,694)	2000	37
2233	Lone Tree	CO		—		—		—		5,453		—		5,453		5,453		—	2014	*
1076	Parker	CO		—		—		13,388		496		8		13,788		13,796		(3,027)	2006	40
0510	Thornton	CO		—		236		10,206		2,303		244		12,477		12,721		(3,835)	2002	43
0433	Atlantis	FL		—		—		5,651		694		33		5,500		5,533		(2,386)	1999	35
0434	Atlantis	FL		—		—		2,027		258		5		2,173		2,178		(941)	1999	34
0435	Atlantis	FL		—		—		2,000		727		—		2,530		2,530		(1,099)	1999	32
0602	Atlantis	FL		—		455		2,231		342		455		2,368		2,823		(640)	2000	34
0604	Englewood	FL		—		170		1,134		389		198		1,388		1,586		(377)	2000	34
0609	Kissimmee	FL		—		788		174		214		788		299		1,087		(84)	2000	34
0610	Kissimmee	FL		—		481		347		629		486		931		1,417		(237)	2000	34
0671	Kissimmee	FL		—		—		7,574		1,983		—		8,883		8,883		(2,497)	2000	36
0603	Lake Worth	FL		—		1,507		2,894		1,807		1,507		4,569		6,076		(1,194)	2000	34
0612	Margate	FL		—		1,553		6,898		1,058		1,553		7,920		9,473		(1,944)	2000	34
0613	Miami	FL		—		4,392		11,841		3,081		4,392		14,323		18,715		(4,097)	2000	34
2202	Miami	FL		—		—		13,123		2,237		—		15,360		15,360		(355)	2014	25
2203	Miami	FL		—		—		8,877		850		—		9,727		9,727		(203)	2014	30
1067	Milton	FL		—		—		8,566		248		—		8,806		8,806		(1,856)	2006	40
0563	Orlando	FL		—		2,144		5,136		4,182		2,332		8,558		10,890		(3,206)	2003	37
0833	Pace	FL		—		—		10,309		2,580		26		10,729		10,755		(2,221)	2006	44
0834	Pensacola	FL		—		—		11,166		478		—		11,644		11,644		(2,428)	2006	45
0614	Plantation	FL		—		969		3,241		1,075		1,011		4,029		5,040		(1,179)	2000	34
0673	Plantation	FL		4,611		1,091		7,176		687		1,091		7,530		8,621		(1,735)	2002	36
0701	St. Petersburg	FL		—		—		10,141		8,183		—		17,710		17,710		(3,477)	2006	ɫ
1210	Tampa	FL		—		1,967		6,602		4,674		2,142		10,589		12,731		(4,080)	2006	25
1058	Mccaysville	GA		—		—		3,231		18		—		3,249		3,249		(678)	2006	40
1065	Marion	IL		—		99		11,484		319		100		11,783		11,883		(2,546)	2006	40
1057	Newburgh	IN		—		—		14,019		2,910		—		16,923		16,923		(3,324)	2006	40
2039	Kansas City	KS		1,789		440		2,173		9		448		2,173		2,621		(164)	2012	35
2043	Overland Park	KS		—		—		7,668		—		—		7,668		7,668		(527)	2012	40
0483	Wichita	KS		—		530		3,341		460		530		3,801		4,331		(1,233)	2001	45
1064	Lexington	KY		—		—		12,726		1,119		—		13,765		13,765		(3,250)	2006	40
0735	Louisville	KY		—		936		8,426		4,405		936		12,106		13,042		(8,652)	2005	11
0737	Louisville	KY		—		835		27,627		3,679		835		30,674		31,509		(8,706)	2005	37
0738	Louisville	KY		4,820		780		8,582		4,229		818		11,962		12,780		(5,923)	2005	18
0739	Louisville	KY		7,791		826		13,814		1,624		826		14,768		15,594		(4,246)	2005	38
0740	Louisville	KY		8,436		2,983		13,171		3,695		2,991		16,501		19,492		(5,623)	2005	30
1944	Louisville	KY		—		788		2,414		—		788		2,414		3,202		(386)	2010	25
1945	Louisville	KY		24,782		3,255		28,644		653		3,255		29,297		32,552		(4,128)	2010	30
1946	Louisville	KY		—		430		6,125		46		430		6,171		6,601		(822)	2010	30
2237	Louisville	KY		10,162		1,519		15,386		—		1,519		15,386		16,905		(51)	2014	25
2238	Louisville	KY		10,162		1,334		12,172		—		1,334		12,172		13,506		(41)	2014	25
2239	Louisville	KY		12,889		1,644		10,832		—		1,644		10,832		12,476		(36)	2014	25
1324	Haverhill	MA		—		800		8,537		1,827		828		10,137		10,965		(2,634)	2007	40
1213	Ellicott City	MD		—		1,115		3,206		2,511		1,222		5,403		6,625		(1,435)	2006	34
0361	GlenBurnie	MD		—		670		5,085		—		670		5,085		5,755		(2,276)	1999	35
1052	Towson	MD		—		—		14,233		3,599		—		15,788		15,788		(4,815)	2006	40
0240	Minneapolis	MN		—		117		13,213		1,620		117		14,444		14,561		(6,945)	1997	32
0300	Minneapolis	MN		490		160		10,131		2,823		160		12,520		12,680		(5,983)	1997	35
2032	Independence	MO		32,018		—		48,025		337		—		48,361		48,361		(2,582)	2012	45
1078	Flowood	MS		—		—		8,413		729		—		9,115		9,115		(2,131)	2006	40
1059	Jackson	MS		—		—		8,869		65		—		8,933		8,933		(1,843)	2006	40
1060	Jackson	MS		—		—		7,187		2,160		—		9,347		9,347		(2,325)	2006	40
1068	Omaha	NE		—		—		16,243		737		17		16,915		16,932		(3,639)	2006	40


									Costs											Life on Which
									Capitalized		Gross Amount at Which Carried									Depreciation in
					Initial Cost to Company				Subsequent		As of December 31, 2014								Year	Latest Income
			Encumbrances at				Buildings and		to				Buildings and				Accumulated		Acquired/	Statement is
City		State	December 31, 2014		Land		Improvements		Acquisition		Land		Improvements		Total(1)		Depreciation		Constructed	Computed
0729	Albuquerque	NM		—		—		5,380		388		—		5,768		5,768		(1,509)	2005	39
0348	Elko	NV		—		55		2,637		12		55		2,649		2,704		(1,203)	1999	35
0571	Las Vegas	NV		—		—		—		18,307		—		17,421		17,421		(4,927)	2003	40
0660	Las Vegas	NV		—		1,121		4,363		4,389		1,302		7,141		8,443		(2,218)	2000	34
0661	Las Vegas	NV		—		2,125		4,829		4,435		2,267		8,564		10,831		(2,603)	2000	34
0662	Las Vegas	NV		—		3,480		12,305		4,376		3,480		15,182		18,662		(3,974)	2000	34
0663	Las Vegas	NV		—		1,717		3,597		2,850		1,717		6,072		7,789		(2,119)	2000	34
0664	Las Vegas	NV		—		1,172		1,550		321		1,172		1,596		2,768		(1,589)	2000	*
0691	Las Vegas	NV		—		3,244		18,339		5,859		3,273		23,218		26,491		(6,935)	2004	40
2037	Mesquite	NV		3,040		—		5,559		17		—		5,576		5,576		(373)	2012	40
1285	Cleveland	OH		—		823		2,726		676		853		2,668		3,521		(812)	2006	40
0400	Harrison	OH		—		—		4,561		300		—		4,861		4,861		(2,096)	1999	35
1054	Durant	OK		—		619		9,256		1,331		659		10,534		11,193		(2,157)	2006	40
0817	Owasso	OK		—		—		6,582		643		—		7,225		7,225		(2,976)	2005	40
0404	Roseburg	OR		—		—		5,707		—		—		5,707		5,707		(2,404)	1999	35
2234	Philadelphia	PA		—		24,264		99,904		786		24,264		100,690		124,954		(965)	2014	35
0252	Clarksville	TN		—		765		4,184		47		765		4,231		4,996		(2,005)	1998	35
0624	Hendersonville	TN		—		256		1,530		1,114		256		2,343		2,599		(678)	2000	34
0559	Hermitage	TN		—		830		5,036		5,332		830		9,828		10,658		(3,213)	2003	35
0561	Hermitage	TN		—		596		9,698		3,816		596		12,723		13,319		(4,126)	2003	37
0562	Hermitage	TN		—		317		6,528		2,437		317		8,588		8,905		(2,851)	2003	37
0154	Knoxville	TN		—		700		4,559		4,812		700		9,277		9,977		(3,019)	1994	19
0625	Nashville	TN		—		955		14,289		2,055		955		15,717		16,672		(4,369)	2000	34
0626	Nashville	TN		—		2,050		5,211		3,048		2,055		8,012		10,067		(2,299)	2000	34
0627	Nashville	TN		—		1,007		181		572		1,007		727		1,734		(268)	2000	34
0628	Nashville	TN		—		2,980		7,164		2,136		2,980		8,998		11,978		(2,384)	2000	34
0630	Nashville	TN		—		515		848		251		528		1,085		1,613		(335)	2000	34
0631	Nashville	TN		—		266		1,305		1,343		266		2,499		2,765		(665)	2000	34
0632	Nashville	TN		—		827		7,642		3,642		827		10,829		11,656		(3,113)	2000	34
0633	Nashville	TN		—		5,425		12,577		4,064		5,425		16,360		21,785		(4,742)	2000	34
0634	Nashville	TN		—		3,818		15,185		6,275		3,818		20,378		24,196		(5,330)	2000	34
0636	Nashville	TN		—		583		450		298		583		748		1,331		(159)	2000	34
0573	Arlington	TX		—		769		12,355		2,849		769		14,753		15,522		(3,845)	2003	34
0576	Conroe	TX		—		324		4,842		1,877		324		5,809		6,133		(1,551)	2000	34
0577	Conroe	TX		—		397		7,966		2,363		397		9,841		10,238		(2,406)	2000	34
0578	Conroe	TX		—		388		7,975		3,801		388		11,588		11,976		(2,490)	2006	31
0579	Conroe	TX		—		188		3,618		698		188		4,298		4,486		(1,134)	2000	34
0581	Corpus Christi	TX		—		717		8,181		4,222		717		11,693		12,410		(3,240)	2000	34
0600	Corpus Christi	TX		—		328		3,210		3,084		328		5,916		6,244		(1,806)	2000	34
0601	Corpus Christi	TX		—		313		1,771		1,608		313		3,131		3,444		(797)	2000	34
0582	Dallas	TX		—		1,664		6,785		3,135		1,693		9,460		11,153		(2,634)	2000	34
1314	Dallas	TX		—		15,230		162,971		7,355		15,860		168,420		184,280		(39,215)	2006	35
2201	Dallas	TX		—		1,043		25,841		56		1,043		25,896		26,939		(308)	2014	35
0583	Fort Worth	TX		—		898		4,866		1,606		898		6,273		7,171		(1,868)	2000	34
0805	Fort Worth	TX		—		—		2,481		880		2		3,230		3,232		(1,263)	2005	25
0806	Fort Worth	TX		—		—		6,070		347		5		6,311		6,316		(1,484)	2005	40
2231	Fort Worth	TX		—		902		—		—		902		—		902		—	2014	**
1061	Granbury	TX		—		—		6,863		152		—		7,015		7,015		(1,491)	2006	40
0430	Houston	TX		—		1,927		33,140		3,597		2,062		36,365		38,427		(15,777)	1999	35
0446	Houston	TX		—		2,200		19,585		7,004		2,209		22,769		24,978		(15,016)	1999	17
0586	Houston	TX		—		1,033		3,165		1,105		1,033		4,026		5,059		(1,234)	2000	34
0589	Houston	TX		—		1,676		12,602		3,980		1,706		15,701		17,407		(4,483)	2000	34
0670	Houston	TX		—		257		2,884		1,159		318		3,823		4,141		(1,141)	2000	35
0702	Houston	TX		—		—		7,414		1,320		7		8,706		8,713		(2,632)	2004	36
1044	Houston	TX		—		—		4,838		3,218		—		7,964		7,964		(2,499)	2006	40
0590	Irving	TX		—		828		6,160		2,446		828		8,437		9,265		(2,189)	2000	34
0700	Irving	TX		—		—		8,550		3,147		—		11,255		11,255		(3,372)	2004	34
1202	Irving	TX		—		1,604		16,107		950		1,604		17,026		18,630		(3,611)	2006	40
1207	Irving	TX		—		1,955		12,793		1,255		1,986		14,016		16,002		(2,974)	2006	40
1062	Lancaster	TX		—		172		2,692		881		185		3,510		3,695		(993)	2006	39
2195	Lancaster	TX		—		—		1,138		672		131		1,679		1,810		(74)	2006	39
0591	Lewisville	TX		—		561		8,043		1,170		561		9,129		9,690		(2,271)	2000	34
0144	Longview	TX		—		102		7,998		423		102		8,420		8,522		(3,994)	1992	45
0143	Lufkin	TX		—		338		2,383		40		338		2,383		2,721		(1,061)	1992	45
0568	McKinney	TX		—		541		6,217		799		541		6,495		7,036		(2,091)	2003	36
0569	McKinney	TX		—		—		636		7,673		—		7,661		7,661		(2,146)	2003	40
0596	Nassau Bay	TX		—		812		8,883		2,202		812		10,830		11,642		(2,605)	2000	37
1079	North Richland Hills	TX		—		—		8,942		798		—		9,607		9,607		(2,145)	2006	40
2048	North Richland Hills	TX		—		1,385		10,213		1,365		1,385		11,578		12,963		(1,047)	2012	30
1048	Pearland	TX		—		—		4,014		4,043		—		7,848		7,848		(2,243)	2006	40
2232	Pearland	TX		—		—		—		5,491		—		5,491		5,491		—	2014	*
0447	Plano	TX		—		1,700		7,810		5,926		1,704		13,113		14,817		(4,403)	1999	20
0597	Plano	TX		—		1,210		9,588		3,418		1,210		12,266		13,476		(2,952)	2000	34
0672	Plano	TX		8,962		1,389		12,768		1,501		1,389		13,683		15,072		(3,636)	2002	36
1284	Plano	TX		—		2,049		18,793		1,119		2,087		18,648		20,735		(6,171)	2006	40
1286	Plano	TX		—		3,300		—		—		3,300		—		3,300		—	2006	**
0815	San Antonio	TX		—		—		9,193		1,338		12		10,059		10,071		(2,603)	2006	35
0816	San Antonio	TX		4,072		—		8,699		2,063		148		10,176		10,324		(2,522)	2006	35
1591	San Antonio	TX		—		—		7,309		327		12		7,624		7,636		(1,191)	2010	30
1977	San Antonio	TX		—		—		26,191		889		—		27,080		27,080		(3,796)	2011	30
0598	Sugarland	TX		—		1,078		5,158		2,066		1,135		6,858		7,993		(1,944)	2000	34
1081	Texarkana	TX		—		1,117		7,423		674		1,195		7,228		8,423		(2,831)	2006	40
0599	Texas City	TX		—		—		9,519		157		—		9,676		9,676		(2,214)	2000	37
0152	Victoria	TX		—		125		8,977		394		125		9,371		9,496		(4,048)	1994	45
1592	Bountiful	UT		4,973		999		7,426		54		999		7,481		8,480		(1,118)	2010	30
0169	Bountiful	UT		—		276		5,237		864		330		6,035		6,365		(2,580)	1995	45
0346	Castle Dale	UT		—		50		1,818		63		50		1,881		1,931		(875)	1998	35
0347	Centerville	UT		—		300		1,288		191		300		1,479		1,779		(734)	1999	35
2035	Draper	UT		5,549		—		10,803		113		—		10,916		10,916		(684)	2012	45
0469	Kaysville	UT		—		530		4,493		146		530		4,639		5,169		(1,389)	2001	43
0456	Layton	UT		—		371		7,073		512		389		7,457		7,846		(2,994)	2001	35
2042	Layton	UT		—		—		10,275		26		—		10,302		10,302		(622)	2012	45


									Costs											Life on Which
									Capitalized		Gross Amount at Which Carried									Depreciation in
					Initial Cost to Company				Subsequent		As of December 31, 2014								Year	Latest Income
			Encumbrances at				Buildings and		to				Buildings and				Accumulated		Acquired/	Statement is
City		State	December 31, 2014		Land		Improvements		Acquisition		Land		Improvements		Total(1)		Depreciation		Constructed	Computed
0359	Ogden	UT		—		180		1,695		121		180		1,764		1,944		(839)	1999	35
1283	Ogden	UT		—		106		4,464		678		106		4,533		4,639		(4,478)	2006	40
0357	Orem	UT		—		337		8,744		1,538		306		9,411		9,717		(4,837)	1999	35
0371	Providence	UT		—		240		3,876		202		256		3,774		4,030		(1,674)	1999	35
0353	Salt Lake City	UT		—		190		779		148		201		916		1,117		(407)	1999	35
0354	Salt Lake City	UT		—		220		10,732		1,539		220		11,991		12,211		(5,399)	1999	35
0355	Salt Lake City	UT		—		180		14,792		1,755		180		16,375		16,555		(7,407)	1999	35
0467	Salt Lake City	UT		—		3,000		7,541		1,545		3,126		8,623		11,749		(2,702)	2001	38
0566	Salt Lake City	UT		—		509		4,044		1,359		509		5,143		5,652		(1,604)	2003	37
2041	Salt Lake City	UT		—		—		12,326		21		—		12,346		12,346		(733)	2012	45
2033	Sandy	UT		2,787		867		3,513		365		867		3,879		4,746		(490)	2012	20
0358	Springville	UT		—		85		1,493		233		95		1,618		1,713		(723)	1999	35
0482	Stansbury	UT		—		450		3,201		368		450		3,468		3,918		(1,098)	2001	45
0351	Washington Terrace	UT		—		—		4,573		2,273		—		6,465		6,465		(2,835)	1999	35
0352	Washington Terrace	UT		—		—		2,692		1,128		—		3,459		3,459		(1,388)	1999	35
2034	West Jordan	UT		7,422		—		12,021		—		—		12,021		12,021		(705)	2012	45
2036	West Jordan	UT		1,160		—		1,383		312		—		1,695		1,695		(201)	2012	20
0495	West Valley City	UT		—		410		8,266		1,002		410		9,268		9,678		(3,580)	2002	35
0349	West Valley City	UT		—		1,070		17,463		128		1,036		17,619		18,655		(7,982)	1999	35
1208	Fairfax	VA		—		8,396		16,710		4,194		8,494		20,670		29,164		(6,222)	2006	28
2230	Fredericksburg	VA		—		1,101		8,570		—		1,101		8,570		9,671		(102)	2014	40
0572	Reston	VA		—		—		11,902		563		—		12,394		12,394		(3,794)	2003	43
0448	Renton	WA		—		—		18,724		1,862		—		19,908		19,908		(8,663)	1999	35
0781	Seattle	WA		—		—		52,703		10,414		—		59,830		59,830		(15,273)	2004	39
0782	Seattle	WA		—		—		24,382		6,072		21		29,421		29,442		(8,599)	2004	36
0783	Seattle	WA		—		—		5,625		1,243		142		6,678		6,820		(6,061)	2004	10
0785	Seattle	WA		—		—		7,293		1,705		—		8,043		8,043		(2,612)	2004	33
1385	Seattle	WA		—		—		38,925		1,978		—		40,776		40,776		(10,077)	2007	30
2038	Evanston	WY		1,986		—		4,601		8		—		4,609		4,609		(303)	2012	40
0884	Coyoacan	DF		—		415		3,739		51		256		3,952		4,208		(936)	2006	40
			$	167,101	$	223,689	$	2,167,443	$	457,932	$	228,743	$	2,540,380	$	2,769,123	$	(652,966)
Hospital
0126	Sherwood	AR		—		709		9,604		—		709		9,587		10,296		(5,105)	1990	45
0113	Glendale	AZ		—		1,565		7,050		—		1,565		7,050		8,615		(3,837)	1988	45
1038	Fresno	CA		—		3,652		29,113		21,935		3,652		51,048		54,700		(12,716)	2006	40
0423	Irvine	CA		—		18,000		70,800		—		18,000		70,800		88,800		(30,686)	1999	35
0127	Colorado Springs	CO		—		690		8,338		—		690		8,338		9,028		(4,419)	1989	45
0887	Atlanta	GA		—		4,300		13,690		—		4,300		11,890		16,190		(4,657)	2007	40
0112	Overland Park	KS		—		2,316		10,681		—		2,316		10,680		12,996		(6,019)	1989	45
1383	Baton Rouge	LA		—		690		8,545		86		690		8,502		9,192		(2,592)	2007	40
0877	Slidell	LA		—		1,490		22,034		—		1,490		20,934		22,424		(4,274)	2006	40
2031	Slidell	LA		—		3,000		—		643		3,000		643		3,643		—	2012	**
0886	Dallas	TX		—		1,820		8,508		26		1,820		7,454		9,274		(1,460)	2007	40
1319	Dallas	TX		—		18,840		155,659		1,428		18,840		157,087		175,927		(34,706)	2007	35
1384	Plano	TX		—		6,290		22,686		5,707		6,290		28,203		34,493		(7,709)	2007	25
2198	Webster	TX		—		2,220		9,602		—		2,220		9,602		11,822		(544)	2013	35
			$	—	$	65,582	$	376,310	$	29,825	$	65,582	$	401,818	$	467,400	$	(118,724)
Total operations properties			$	984,431	$	1,879,685	$	10,132,425	$	1,320,375	$	1,889,438	$	11,247,967	$	13,137,405	$	(2,250,677)
Corporate and other assets				—		—		—		467		—		239		239		(80)
Total			$	984,431	$	1,879,685	$	10,132,425	$	1,320,842	$	1,889,438	$	11,248,206	$	13,137,644	$	(2,250,757)


*	Property is in development and not yet placed in service or taken out of service and placed in redevelopment.
**	Represents land parcels which are not depreciated.
†	A portion of the property has been taken out of service and placed in redevelopment.

	(1)		At December 31, 2014, the tax basis of the Company’s net real estate assets is less than the reported amounts by approximately $1.4 billion.

	(b)		A summary of activity for real estate and accumulated depreciation for the years ended December 31, 2014, 2013 and 2012 follows (in thousands):


	Year ended December 31,
	2014		2013		2012
Real estate:
Balances at beginning of year	$	12,592,841	$	12,524,224	$	10,616,690
Acquisition of real estate and development and improvements		756,043		257,189		1,941,091
Disposition of real estate		(169,311)		(78,151)		(148,752)
Impairments		—		—		(7,878)
Balances associated with changes in reporting presentation(1)		(41,929)		(110,421)		123,073
Balances at end of year	$	13,137,644	$	12,592,841	$	12,524,224
Accumulated depreciation:
Balances at beginning of year	$	1,965,592	$	1,694,892	$	1,408,310
Depreciation expense		384,019		353,344		302,332
Disposition of real estate		(55,745)		(38,447)		(32,942)
Balances associated with changes in reporting presentation(1)		(43,109)		(44,197)		17,192
Balances at end of year	$	2,250,757	$	1,965,592	$	1,694,892

	(1)		The balances associated with changes in reporting presentation represent real estate and accumulated depreciation related to properties placed into discontinued operations or where the lease classification has changed to direct financing leases as of December 31, 2014.

(a) 2.Exhibits

See the Exhibit Index immediately following the signature page of this Annual Report on Form 10-K.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: February 10, 2015

	HCP, Inc. (Registrant)

	/s/ Lauralee E. Martin
	Lauralee E. Martin,
	President and Chief Executive Officer (Principal Executive Officer)

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

Signature	Title	Date

/s/ Lauralee E. Martin	President and Chief Executive Officer	February 10, 2015
Lauralee E. Martin	(Principal Executive Officer)

/s/ Timothy M. Schoen	Executive Vice President and Chief	February 10, 2015
Timothy M. Schoen	Financial Officer (Principal Financial Officer)

/s/ Scott A. Anderson	Senior Vice President — Chief	February 10, 2015
Scott A. Anderson	Accounting Officer (Principal Accounting Officer)

/s/ Brian G. Cartwright	Director	February 10, 2015
Brian G. Cartwright

/s/ Christine N. Garvey	Director	February 10, 2015
Christine N. Garvey

/s/ David B. Henry	Director	February 10, 2015
David B. Henry

/s/ James Hoffman	Director	February 10, 2015
James Hoffmann

/s/ Michael D. McKee	Director	February 10, 2015
Michael D. McKee

/s/ Peter L. Rhein	Director	February 10, 2015
Peter L. Rhein

/s/ Joseph P. Sullivan	Director	February 10, 2015
Joseph P. Sullivan

EXHIBIT INDEX

Exhibit Number	Description	Incorporated by reference herein
Form	Date Filed
2.1	Purchase Agreement, dated as of December 13, 2010, by and among HCP, Inc., HCP 2010 REIT LLC, HCR ManorCare, Inc., HCR Properties, LLC and HCR Healthcare, LLC.***	Current Report on Form 8‑K (File No. 001‑08895)	December 14, 2010
2.1.1	Amendment to Purchase Agreement, dated as of April 7, 2011, by and among HCP, Inc., HCP 2010 REIT LLC, HCR ManorCare MergeCo, Inc., HCR ManorCare, LLC, HCR Properties, LLC and HCR Healthcare, LLC.**	Current Report on Form 8‑K (File No. 001‑08895)	April 13, 2011
2.2	Purchase and Sale Agreement, dated as of October 16, 2012, by and among BRE/SW Portfolio LLC, those owner entities listed on Schedule 1 thereto, HCP, Inc. and Emeritus Corporation; and First Amendment to such Purchase and Sale Agreement, by and among such parties, dated as of December 4, 2012.***	Quarterly Report on Form 10‑Q (File No. 001‑08895)	May 2, 2013
2.3	Master Contribution and Transactions Agreement, dated April 23, 2014, by and between HCP, Inc. and Brookdale Senior Living Inc.***	Quarterly Report on Form 10-Q (File No. 001‑08895)	August 5, 2014
3.1	Articles of Restatement of HCP.	Registration Statement on Form S‑3 (Registration No. 333‑182824	July 24, 2012
3.2	Fourth Amended and Restated Bylaws of HCP.	Current Report on Form 8‑K (File No. 001‑08895)	September 25, 2006
3.2.1	Amendment No. 1 to Fourth Amended and Restated Bylaws of HCP.	Quarterly Report on Form 10‑Q (File No. 001‑08895)	October 30, 2007
3.2.2	Amendment No. 2 to Fourth Amended and Restated Bylaws of HCP.	Quarterly Report on Form 10‑Q (File No. 001‑08895)	November 3, 2009
3.2.3	Amendment No. 3 to Fourth Amended and Restated Bylaws of HCP.	Current Report on Form 8‑K (File No. 001‑08895)	March 10, 2011
3.2.4	Amendment No. 4 to Fourth Amended and Restated Bylaws of HCP.	Current Report on Form 8‑K (File No. 001‑08895)	October 3, 2013
4.1	Indenture, dated as of September 1, 1993, between HCP and The Bank of New York, as Trustee.	Registration Statement on Form S‑3/A (Registration No. 333‑86654)	May 21, 2002
4.1.1	First Supplemental Indenture dated as of January 24, 2011, to the Indenture, dated as of September 1, 1993, by and between HCP and The Bank of New York Mellon Trust Company, N.A., as Trustee.	Current Report on Form 8‑K (File No. 001‑08895)	January 24, 2011
4.2	Indenture, dated November 19, 2012, between HCP and The Bank of New York Mellon Trust Company, N.A., as trustee.	Current Report on Form 8‑K (File No. 001‑ 08895)	November 19, 2012
4.2.1	First Supplemental Indenture, dated November 19, 2012, between HCP and The Bank of New York Mellon Trust Company, N.A., as trustee.	Current Report on Form 8‑K (File No. 001‑08895)	November 19, 2012
4.2.2	Second Supplemental Indenture, dated November 12, 2013, between HCP and The Bank of New York Mellon Trust Company, N.A., as trustee.	Current Report on Form 8‑K (File No. 001‑08895)	November 13, 2013
4.2.3	Third Supplemental Indenture dated February 21, 2014, between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee.	Current Report on Form 8‑K (File No. 001‑08895)	February 24, 2014
4.2.4	Fourth Supplemental Indenture, dated August 14, 2014, between HCP and The Bank of New York Mellon Trust Company, N.A., as trustee.	Current Report on Form 8‑K (File No. 001‑08895)	August 14, 2014
4.3	Form of Fixed Rate Global Medium‑Term Note.	Current Report on Form 8‑K (File No. 001‑08895)	November 20, 2003
4.4	Form of Floating Rate Global Medium‑Term Note.	Current Report on Form 8‑K (File No. 001‑08895)	November 20, 2003
4.5	Form of Fixed Rate Global Medium‑Term Note.	Current Report on Form 8‑K (File No. 001‑08895)	February 17, 2006

Exhibit Number	Description	Incorporated by reference herein
Form	Date Filed
4.6	Form of Floating Rate Global Medium‑Term Note.	Current Report on Form 8‑K (File No. 001‑08895)	February 17, 2006
4.7	Officers’ Certificate, dated February 25, 2003, pursuant to Section 301 of the Indenture, dated as of September 1, 1993, by and between HCP and The Bank of New York, as Trustee, establishing a series of securities entitled “6.00% Senior Notes due March 1, 2015”.	Current Report on Form 8‑K (File No. 001‑08895)	February 28, 2003
4.8	Officers’ Certificate, dated April 22, 2005, pursuant to Section 301 of the Indenture, dated as of September 1, 1993, by and between HCP and The Bank of New York, as Trustee, establishing a series of securities entitled “55/8% Senior Notes due May 1, 2017”.	Current Report on Form 8‑K (File No. 001‑08895)	April 27, 2005
4.9	Officers’ Certificate, dated February 17, 2006, pursuant to Section 301 of the Indenture, dated as of September 1, 1993, by and between HCP and The Bank of New York, as trustee, setting forth the terms of HCP’s Fixed Rate Medium‑Term Notes and Floating Rate Medium‑Term Notes.	Current Report on Form 8‑K (File No. 001‑08895)	February 17, 2006
4.10	Form of 6.30% Notes Due 2016.	Current Report on Form 8‑K (File No. 001‑08895)	September 19, 2006
4.11	Form of 6.00% Senior Notes Due 2017.	Current Report on Form 8‑K (File No. 001‑08895)	January 22, 2007
4.12	Officers’ Certificate (including Form of 6.70% Senior Notes Due 2018 as Annex A thereto), dated October 15, 2007, pursuant to Section 301 of the Indenture, dated as of September 1, 1993, by and between HCP and The Bank of New York Trust Company, N.A., as successor trustee to The Bank of New York, establishing a series of securities entitled “6.70% Senior Notes due 2018”.	Quarterly Report on Form 10‑Q (File No. 001‑08895)	October 30, 2007
4.13	Form of 2.700% Senior Notes due 2014.	Current Report on Form 8‑K (File No. 001‑08895)	January 24, 2011
4.14	Form of 3.750% Senior Notes due 2016.	Current Report on Form 8‑K (File No. 001‑08895)	January 24, 2011
4.15	Form of 5.375% Senior Notes due 2021.	Current Report on Form 8‑K (File No. 001‑08895)	January 24, 2011
4.16	Form of 6.750% Senior Notes due 2041.	Current Report on Form 8‑K (File No. 001‑08895)	January 24, 2011
4.17	Form of 3.75% Senior Notes due 2019.	Current Report on Form 8‑K (File No. 001‑08895)	January 23, 2012
4.18	Form of 3.15% Senior Notes due 2022.	Current Report on Form 8‑K (File No. 001‑08895)	July 23, 2012
4.19	Form of 2.625% Senior Notes due 2020.	Current Report on Form 8‑K (File No. 001‑08895)	November 19, 2012
4.20	Form of 4.250% Senior Notes due 2023.	Current Report on Form 8‑K (File No. 001‑08895)	November 13, 2013
4.21	Form of 4.20% Senior Notes due 2024.	Current Report on Form 8‑K (File No. 001‑08895)	February 24, 2014
4.22	Form of 3.875% Senior Notes due 2024.	Current Report on Form 8‑K (File No. 001‑08895)	August 14, 2014
10.1	Second Amended and Restated Director Deferred Compensation Plan.*	Quarterly Report on Form 10‑Q (File No. 001‑08895)	November 3, 2009
10.2	Amended and Restated Executive Retirement Plan, effective as of May 7, 2003.*	Annual Report on Form 10‑K (File No. 001‑08895)	March 15, 2004
10.3	2006 Performance Incentive Plan, as amended and restated.*	Annex 2 to HCP’s Proxy Statement (File No. 001‑08895)	March 10, 2009
10.3.1	Form of Employee 2006 Performance Incentive Plan Performance Restricted Stock Unit Agreement with five‑year installment vesting.*	Quarterly Report on Form 10‑Q (File No. 001‑08895)	April 28, 2009

Exhibit Number	Description	Incorporated by reference herein
Form	Date Filed
10.3.2	Form of Director 2006 Performance Incentive Plan Director Stock Unit Award Agreement with four‑year installment vesting.*	Quarterly Report on Form 10‑Q (File No. 001‑08895)	August 4, 2009
10.3.3	HCP, Inc. Terms and Conditions Applicable to Restricted Stock Unit Awards Granted Under the 2006 Performance Incentive Plan.*	Quarterly Report on Form 10‑Q (File No. 001‑08895)	May 3, 2011
10.3.4	Form of Non‑Employee Directors 2006 Performance Incentive Plan Stock‑For‑Fees Program.*	Current Report on Form 8‑K (File No. 001‑08895)	August 2, 2006
10.3.5	Form of Employee 2006 Performance Incentive Plan Nonqualified Stock Option Agreement.*	Quarterly Report on Form 10‑Q (File No. 001‑08895)	May 1, 2012
10.3.6	Form of Employee 2006 Performance Incentive Plan Performance‑Based Restricted Stock Unit Agreement.*	Quarterly Report on Form 10‑Q (File No. 001‑08895)	May 1, 2012
10.3.7	Form of Employee 2006 Performance Incentive Plan Time‑Based Restricted Stock Unit Agreement.*	Quarterly Report on Form 10‑Q (File No. 001‑08895)	May 1, 2012
10.3.8	Restricted Stock Unit Award Agreement, dated as of October 3, 2013, by and between HCP and Paul F. Gallagher.*	Quarterly Report on Form 10‑Q (File 001‑ 08895)	November 4, 2013
10.3.9	Restricted Stock Unit Award Agreement, dated as of October 3, 2013, by and between HCP and Timothy M. Schoen.*	Quarterly Report on Form 10‑Q (File 001‑ 08895)	November 4, 2013
10.3.10	Restricted Stock Unit Award Agreement, dated as of October 31, 2013, by and between HCP and James W. Mercer.*	Quarterly Report on Form 10‑Q (File 001‑ 08895)	November 4, 2013
10.3.11	Amended 2013 Restricted Stock Award Agreement, dated as of December 20, 2013, by and between HCP and Lauralee E. Martin.*	Annual Report on Form 10‑K (File No. 001‑08895)	February 11, 2014
10.4	HCP, Inc. 2014 Performance Incentive Plan*	Current Report on Form 8‑K (File No. 001‑08895)	May 6, 2014
10.4.1	Form of 2014 Performance Incentive Plan Non-Employee Director Restricted Stock Unit Award Agreement.*	Quarterly Report on Form 10-Q (File No. 001‑08895)	August 5, 2014
10.4.2	Form of 2014 Performance Incentive Plan CEO Annual LTIP Restricted Stock Unit Award Agreement.*	Quarterly Report on Form 10-Q (File No. 001‑08895)	August 5, 2014
10.4.3	Form of 2014 Performance Incentive Plan CEO Annual LTIP Option Agreement.*	Quarterly Report on Form 10-Q (File No. 001‑08895)	August 5, 2014
10.4.4	Form of 2014 Performance Incentive Plan CEO 3-Year LTIP Restricted Stock Unit Award Agreement.*	Quarterly Report on Form 10-Q (File No. 001‑08895)	August 5, 2014
10.4.5	Form of 2014 Performance Incentive Plan NEO Annual LTIP Restricted Stock Unit Award Agreement.*	Quarterly Report on Form 10-Q (File No. 001‑08895)	August 5, 2014
10.4.6	Form of 2014 Performance Incentive Plan NEO Annual LTIP Option Agreement.*	Quarterly Report on Form 10-Q (File No. 001‑08895)	August 5, 2014
10.4.7	Form of 2014 Performance Incentive Plan NEO 3-Year LTIP Restricted Stock Unit Award Agreement.*	Quarterly Report on Form 10-Q (File No. 001‑08895)	August 5, 2014
10.4.8	Form of 2014 Performance Incentive Plan Non-NEO Restricted Stock Unit Award Agreement.*	Quarterly Report on Form 10-Q (File No. 001‑08895)	August 5, 2014
10.4.9	Form of 2014 Performance Incentive Plan Non-NEO Option Agreement.*	Quarterly Report on Form 10-Q (File No. 001‑08895)	August 5, 2014
10.4.10	Form of 2014 Performance Incentive Plan Non-Employee Directors Stock-for-Fees Program.*	Quarterly Report on Form 10-Q (File No. 001‑08895)	August 5, 2014
10.5	Change in Control Severance Plan.*	Quarterly Report on Form 10‑Q (File No. 001‑08895)	October 30, 2012

Exhibit Number	Description	Incorporated by reference herein
Form	Date Filed
10.5.1	HCP, Inc. Change in Control Severance Plan (as Amended and Restated as of March 13, 2014).*†
10.6	Executive Bonus Program.*	Current Report on Form 8‑K (File No. 001‑08895)	January 31, 2008
10.7	Amended and Restated Dividend Reinvestment and Stock Purchase Plan, amended as of July 25, 2012.	Registration Statement on Form S‑3 (Registration No. 333‑182824)	July 24, 2012 and as supplemented on July 25, 2012
10.8	Form of directors and officers Indemnification Agreement.*	Annual Report on Form 10‑K, as amended (File No. 001‑08895)	February 12, 2008
10.9	Employment Agreement, dated as of January 26, 2012, by and between HCP and Paul F. Gallagher.*	Current Report on Form 8‑K (File 001‑08895)	February 1, 2012
10.9.1	Amendment No. 1, dated as of April 5, 2013, to the Employment Agreement, dated as of January 26, 2012, by and between HCP and Paul F. Gallagher.*	Current Report on Form 8‑K (File 001‑08895)	April 5, 2013
10.9.2	Term Sheet Amendment to Employment Agreement, dated as of October 3, 2013, by and between HCP and Paul F. Gallagher.*	Current Report on Form 8‑K (File 001‑08895)	October 3, 2013
10.9.3	Amendment No. 2, dated as of October 31, 2013, to the Employment Agreement, dated as of January 26, 2012, by and between HCP and Paul F. Gallagher.*	Quarterly Report on Form 10‑Q (File 001‑08895)	November 4, 2013
10.10	Employment Agreement, dated as of January 26, 2012, by and between HCP and Timothy M. Schoen.*	Current Report on Form 8‑K (File 001‑08895)	February 1, 2012
10.10.1	Amendment No. 1, dated as of April 5, 2013, to the Employment Agreement, dated as of January 26, 2012, by and between HCP and Timothy M. Schoen.*	Current Report on Form 8‑K (File 001‑08895)	April 5, 2013
10.10.2	Term Sheet Amendment to Employment Agreement, dated as of October 3, 2013, by and between HCP and Timothy M. Schoen.*	Current Report on Form 8‑K (File 001‑ 08895)	October 3, 2013
10.10.3	Amendment No. 2, dated as of October 31, 2013, to the Employment Agreement, dated as of January 26, 2012, by and between HCP and Timothy M. Schoen.*	Quarterly Report on Form 10‑Q (File 001‑08895)	November 4, 2013
10.11	Employment Agreement, dated October 25, 2012, by and between HCP, Inc. and James W. Mercer.*	Quarterly Report on Form 10‑Q (File No. 001‑08895)	October 30, 2012
10.11.1	Amendment No. 1, dated as of April 5, 2013, to the Employment Agreement, dated as of January 26, 2012, by and between HCP and James W. Mercer.*	Current Report on Form 8‑K (File 001‑08895)	April 5, 2013
10.11.2	Amendment No. 2, dated as of October 31, 2013, to the Employment Agreement, dated as of January 26, 2012, by and between HCP and James W. Mercer.*	Quarterly Report on Form 10‑Q (File 001‑08895)	November 4, 2013
10.12	Employment Agreement, dated as of October 2, 2013, by and between HCP, Inc. and Lauralee E. Martin.*	Current Report on Form 8‑K (File 001‑08895)	October 3, 2013
10.13	Amended and Restated Limited Liability Company Agreement of HCPI/Utah, LLC, dated as of January 20, 1999.	Annual Report on Form 10‑K (File No. 001‑ 08895)	March 29, 1999
10.14	Amended and Restated Limited Liability Company Agreement of HCPI/Utah II, LLC, dated as of August 17, 2001, as amended.	Current Report on Form 8‑K (File No. 001‑08895)	November 9, 2012
10.15	Amended and Restated Limited Liability Company Agreement of HCPI/Tennessee, LLC, dated as of October 2, 2003.	Quarterly Report on Form 10‑Q (File No. 001‑ 08895)	November 12, 2003
10.15.1	Amendment No. 1 to Amended and Restated Limited Liability Company Agreement of HCPI/Tennessee, LLC, dated as of September 29, 2004.	Quarterly Report on Form 10‑Q (File No. 001‑08895)	November 8, 2004
10.15.2	Amendment No. 2 to Amended and Restated Limited Liability Company Agreement of HCPI/Tennessee, LLC, dated as of October 29, 2004.	Annual Report on Form 10‑K (File No. 001‑08895)	March 15, 2005

Exhibit Number	Description	Incorporated by reference herein
Form	Date Filed
10.15.3	Amendment No. 3 to Amended and Restated Limited Liability Company Agreement of HCPI/Tennessee, LLC and New Member Joinder Agreement, dated as of October 19, 2005, by and among HCP, HCPI/Tennessee, LLC and A. Daniel Weyland.	Quarterly Report on Form 10‑Q (File No. 001‑08895)	November 1, 2005
10.15.4	Amendment No. 4 to Amended and Restated Limited Liability Company Agreement of HCPI/Tennessee, LLC, effective as of January 1, 2007.	Annual Report on Form 10‑K, as amended (File No. 001‑08895)	February 12, 2008
10.16	Amended and Restated Limited Liability Company Agreement of HC PDR MCD, LLC, dated as of February 9, 2007.	Current Report on Form 8‑K (File No. 001‑ 08895)	April 20, 2012
10.17	Amended and Restated Limited Liability Company Agreement of HCP DR California II, LLC, dated as of June 1, 2014.	Quarterly Report on Form 10-Q (File No. 001‑08895)	August 5, 2014
10.18	Stockholders Agreement, dated as of December 13, 2010, among HCP, Inc., HCR ManorCare, Inc. and certain stockholders of HCR ManorCare, Inc..	Current Report on Form 8‑K (File No. 001‑08895)	December 14, 2010
10.19	Credit Agreement, dated March 11, 2011, by and among HCP, as borrower, the lenders referred to therein, and Bank of America, N.A., as administrative agent.	Current Report on Form 8‑K (File No. 001‑08895)	March 15, 2011
10.19.1	Amendment No. 1 to Credit Agreement, dated March 27, 2012, by and among HCP, as borrower, the lenders referred to therein and Bank of America, N.A., as administrative agent.	Current Report on Form 8‑K (File No. 001‑08895)	March 29, 2012
10.19.2	Amendment No. 2 to Credit Agreement, dated May 7, 2013, by and among HCP, as borrower, the financial institutions referred to therein, and Bank of America, N.A., as administrative agent.	Quarterly Report on Form 10‑Q (File No. 001‑08895)	August 2, 2013
10.19.3	Amendment No. 3 to Credit Agreement, dated March 31, 2014, by and among the Company, as borrower, the financial institutions referred to therein, and Bank of America, N.A., as administrative agent.	Current Report on Form 8‑K (File No. 001‑08895)	March 31, 2014
10.19.4	Amendment No. 4 to Credit Agreement, dated November 24, 2014, by and among the Company, as borrower, the financial institutions referred to therein, and Bank of America, N.A., as administrative agent.†
10.20	Master Lease and Security Agreement, dated as of April 7, 2011, by and between the parties set forth on Exhibit A‑1, Exhibit A‑2, Exhibit A‑3 and Exhibit A‑4 attached thereto and HCR III Healthcare, LLC.**	Current Report on Form 8‑K (File No. 001‑08895)	July 12, 2011
10.20.1	First Amendment to Master Lease and Security Agreement, dated as of April 7, 2011, by and among the parties signatory thereto and HCR III Healthcare, LLC.	Annual Report on Form 10‑K (File No. 001‑08895)	February 14, 2012
10.20.2	Second Amendment to Master Lease and Security Agreement, dated as of May 16, 2011, by and among the parties signatory thereto and HCR III Healthcare, LLC.	Annual Report on Form 10‑K (File No. 001‑08895)	February 14, 2012
10.20.3	Third Amendment to Master Lease and Security Agreement, dated as of January 10, 2012, by and among the parties signatory thereto and HCR III Healthcare, LLC.	Annual Report on Form 10‑K (File No. 001‑08895)	February 14, 2012
10.20.4	Fourth Amendment to Master Lease and Security Agreement, dated as of April 18, 2012, by and among the parties signatory thereto and HCR III Healthcare, LLC.	Quarterly Report on Form 10‑Q (File No. 001‑08895)	May 1, 2012
10.20.5	Fifth Amendment to Master Lease and Security Agreement, dated as of May 4, 2012, by and among the parties signatory thereto and HCR III Healthcare, LLC.	Quarterly Report on Form 10‑Q (File No. 001‑08895)	July 31, 2012

Exhibit Number	Description	Incorporated by reference herein
Form	Date Filed
10.20.6	Sixth Amendment to Master Lease and Security Agreement, dated as of May 30, 2012, by and among the parties signatory thereto and HCR III Healthcare, LLC.	Quarterly Report on Form 10‑Q (File No. 001‑08895)	July 31, 2012
10.20.7	Seventh Amendment to Master Lease and Security Agreement, dated as of February 11, 2013, by and among the parties signatory thereto and HCR III Healthcare, LLC.	Quarterly Report on Form 10‑Q (File No. 001‑08895)	May 2, 2013
10.20.8	Eighth Amendment to Master Lease and Security Agreement, dated as of July 31, 2014, by and among the parties signatory thereto and HCR III Healthcare, LLC.	Quarterly Report on Form 10‑Q (File No. 001‑08895)	November 4, 2014
10.20.9	Ninth Amendment to Master Lease and Security Agreement, dated as of September 30, 2014, by and among the parties signatory thereto and HCR III Healthcare, LLC.	Quarterly Report on Form 10‑Q (File No. 001‑08895)	November 4, 2014
10.21	Master Lease and Security Agreement, dated as of October 31, 2012, by and between HCPI Trust, HCP Senior Housing Properties Trust, HCP SH ELP1 Properties, LLC, HCP SH ELP2 Properties, LLC, HCP SH ELP3 Properties, LLC, HCP SH Lassen House, LLC, HCP SH Mountain Laurel, LLC, HCP SH Mountain View, LLC, HCP SH Oakridge, LLC, HCP SH River Valley Landing, LLC and HCP SH Sellwood Landing, LLC, as lessor, and Emeritus Corporation, as lessee.**	Annual Report on Form 10‑K (File No. 001‑08895)	February 12, 2013
10.21.1	First Amendment to Master Lease and Security Agreement, dated as of December 4, 2012, by and between HCPI Trust, HCP Senior Housing Properties Trust, HCP SH ELP1 Properties, LLC, HCP SH ELP2 Properties, LLC, HCP SH ELP3 Properties, LLC, HCP SH Lassen House, LLC, HCP SH Mountain Laurel, LLC, HCP SH Mountain View, LLC, HCP SH Oakridge, LLC, HCP SH River Valley Landing, LLC and HCP SH Sellwood Landing, LLC, as lessor, and Emeritus Corporation, as lessee.**	Annual Report on Form 10‑K (File No. 001‑08895)	February 12, 2013
10.21.2	Omnibus Amendment to Leases, dated as of July 31, 2014, which amends the Master Lease and Security Agreement, dated as of October 31, 2012, by and between HCPI Trust, HCP Senior Housing Properties Trust, HCP SH ELP1 Properties, LLC, HCP SH ELP2 Properties, LLC, HCP SH ELP3 Properties, LLC, HCP SH Lassen House, LLC, HCP SH Mountain Laurel, LLC, HCP SH Mountain View, LLC, HCP SH Oakridge, LLC, HCP SH River Valley Landing, LLC and HCP SH Sellwood Landing, LLC, as lessor, and Emeritus Corporation, as lessee, as amended.	Quarterly Report on Form 10‑Q (File No. 001‑08895)	November 4, 2014
10.22	Amended and Restated Master Lease and Security Agreement, dated as of August 29, 2014, by and between HCP AUR1 California A Pack, LLC, HCP EMOH, LLC, HCP Hazel Creek, LLC, HCP MA2 California, LP, HCP MA2 Massachusetts, LP, HCP MA2 Ohio, LP, HCP MA2 Oklahoma, LP, HCP MA3 California, LP, HCP MA3 South Carolina, LP, HCP MA3 Washington LP, HCP Partners, LP, HCP Senior Housing Properties Trust, HCP SH Eldorado Heights LLC, HCP SH ELP1Properties, LLC, HCP SH ELP2 Properties, LLC, HCP SH ELP3 Properties, LLC, HCP SH Lassen House, LLC, HCP SH Mountain Laurel, LLC, HCP SH Mountain View, LLC, HCP SH River Valley Landing, LLC, HCP SH Sellwood Landing, LLC, HCP ST1 Colorado, LP, HCP, Inc. and HCPI Trust, as their interests may appear, as lessor, and Emeritus Corporation, Summerville at Hazel Creek, LLC and Summerville at Prince William, Inc., as lessee.**	Quarterly Report on Form 10‑Q (File No. 001‑08895)	November 4, 2014

Exhibit Number	Description	Incorporated by reference herein
Form	Date Filed
10.22.1	First Amendment to Amended and Restated Master Lease and Security Agreement and Option Exercise Notice, dated as of December 29, 2014, by and between HCP, Inc. and Brookdale Senior Living Inc.**†
10.22.2	Second Amendment to Amended and Restated Master Lease and Security Agreement, dated as of January 1, 2015, by and among the entities collectively defined therein as Lessor, consisting of HCP, Inc. and certain of its subsidiaries, the entities collectively defined therein as Lessee, each a subsidiary of Brookdale Senior Living Inc., and Brookdale Senior Living Inc. as guarantor.**†
21.1	Subsidiaries of the Company.†
23.1	Consent of Independent Registered Public Accounting Firm—Deloitte & Touche LLP.†
23.2	Consent of Independent Registered Public Accounting Firm—Ernst & Young LLP.†
31.1	Certification by Lauralee E. Martin, HCP’s Principal Executive Officer, Pursuant to Securities Exchange Act Rule 13a‑14(a).†
31.2	Certification by Timothy M. Schoen, HCP’s Principal Financial Officer, Pursuant to Securities Exchange Act Rule 13a‑14(a).†
32.1	Certification by Lauralee E. Martin, HCP’s Principal Executive Officer, Pursuant to Securities Exchange Act Rule 13a‑14(b) and 18 U.S.C. Section 1350.†
32.2	Certification by Timothy M. Schoen, HCP’s Principal Financial Officer, Pursuant to Securities Exchange Act Rule 13a‑14(b) and 18 U.S.C. Section 1350.†
99.1	HCR ManorCare, Inc. Financial Statements as of December 31, 2014 and 2013 and for the three years in the periods ended December 31, 2014.
101.INS	XBRL Instance Document.††
101.SCH	XBRL Taxonomy Extension Schema Document.††
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document.††
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document.††
101.LAB	XBRL Taxonomy Extension Labels Linkbase Document.††
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document.††

Management Contract or Compensatory Plan or Arrangement.

** Portions of this exhibit have been omitted pursuant to a request for confidential treatment with the SEC.

*** Certain schedules or similar attachments have been omitted pursuant to Item 601(b)(2) of Regulation S-K. The Company agrees to furnish supplementally copies of any of the omitted schedules or attachments upon request by the SEC.

† Filed herewith.

†† Furnished herewith.

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