2022 Q1 Form 10-Q Financial Statement

#000163297022000045 Filed on May 16, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $319.0M $37.84M
YoY Change 742.93% 0.79%
Cost Of Revenue $287.2M $245.1M
YoY Change 17.14% 1783.24%
Gross Profit $31.81M -$207.3M
YoY Change -115.35% -945.2%
Gross Profit Margin 9.97% -547.82%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $42.31M $25.72M
YoY Change 64.49% 105.29%
% of Gross Profit 132.99%
Operating Expenses
YoY Change
Operating Profit $73.68M $38.08M
YoY Change 93.49%
Interest Expense $23.33M $20.37M
YoY Change 14.53% 283.52%
% of Operating Profit 31.66% 53.48%
Other Income/Expense, Net -$20.81M -$19.96M
YoY Change 4.24%
Pretax Income -$729.0K -$16.11M
YoY Change -95.47% 103.08%
Income Tax $168.0K $163.0K
% Of Pretax Income
Net Earnings -$2.956M -$11.85M
YoY Change -75.05% 52.55%
Net Earnings / Revenue -0.93% -31.31%
Basic Earnings Per Share -$0.01 -$0.07
Diluted Earnings Per Share -$0.01 -$0.07
COMMON SHARES
Basic Shares Outstanding 262.5M shares 179.6M shares
Diluted Shares Outstanding 262.5M shares 179.6M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $75.12M $90.00M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $18.09M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $211.7M
YoY Change
Intangibles $241.1M $59.91M
YoY Change 302.53% -23.43%
Long-Term Investments $22.73M $45.75M
YoY Change -50.32% -3.22%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $4.556B $1.087B
YoY Change 319.29% -3.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $2.750B $542.9M
YoY Change 406.54% -0.99%
SHAREHOLDERS EQUITY
Retained Earnings -$980.6M -$196.8M
YoY Change 398.19% 30.88%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.557B $540.5M
YoY Change
Total Liabilities & Shareholders Equity $4.556B $1.087B
YoY Change 319.29% -3.73%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$2.956M -$11.85M
YoY Change -75.05% 52.55%
Depreciation, Depletion And Amortization $42.31M $25.72M
YoY Change 64.49% 105.29%
Cash From Operating Activities $22.36M -$5.255M
YoY Change -525.5% -153.66%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions $0.00
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$27.37M -$106.8M
YoY Change -74.39% 56.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $4.134M $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$1.307M $89.61M
YoY Change -101.46% 41.06%
NET CHANGE
Cash From Operating Activities $22.36M -$5.255M
Cash From Investing Activities -$27.37M -$106.8M
Cash From Financing Activities -$1.307M $89.61M
Net Change In Cash -$6.314M -$22.49M
YoY Change -71.93% -548.21%
FREE CASH FLOW
Cash From Operating Activities $22.36M -$5.255M
Capital Expenditures
Free Cash Flow
YoY Change

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<div style="margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">1. Organization and Description of Business </span></div><div style="margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Overview and Background</span></div><div style="margin-top:9pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">American Healthcare REIT, Inc., a Maryland corporation, owns a diversified portfolio of clinical healthcare real estate properties, focusing primarily on medical office buildings, skilled nursing facilities, senior housing, hospitals and other healthcare-related facilities. We also operate healthcare-related facilities utilizing the structure permitted by the REIT Investment Diversification and Empowerment Act of 2007, which is commonly referred to as a “RIDEA” structure (the provisions of the Internal Revenue Code of 1986, as amended, or the Code, authorizing the RIDEA structure were enacted as part of the Housing and Economic Recovery Act of 2008). Our healthcare facilities operated under a RIDEA structure include our senior housing operating properties, or SHOP (formerly known as senior housing — RIDEA), and our integrated senior health campuses. We have originated and acquired secured loans and may also originate and acquire other real estate-related investments on an infrequent and opportunistic basis. We generally seek investments that produce current income; however, we have selectively developed, and may continue to selectively develop, healthcare real estate properties. We qualified to be taxed as a real estate investment trust, or REIT, under the Code for federal income tax purposes, and we intend to continue to qualify to be taxed as a REIT. </span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Merger of Griffin-American Healthcare REIT III, Inc. and Griffin-American Healthcare REIT IV, Inc.</span></div><div style="margin-top:8pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 1, 2021, pursuant to an Agreement and Plan of Merger dated June 23, 2021, or the Merger Agreement, GAHR III merged with and into Continental Merger Sub, LLC, a Maryland limited liability company and newly formed wholly owned subsidiary of GAHR IV, or Merger Sub, with Merger Sub being the surviving company, or the REIT Merger. On October 1, 2021, also pursuant to the Merger Agreement, Griffin-American Healthcare REIT IV Holdings, LP, a Delaware limited partnership and subsidiary and operating partnership of GAHR IV, or GAHR IV Operating Partnership, merged with and into Griffin-American Healthcare REIT III Holdings, LP, a Delaware limited partnership, or our operating partnership, with our operating partnership being the surviving entity, or the Partnership Merger. We collectively refer to the REIT Merger and the Partnership Merger as the Merger. Following the Merger on October 1, 2021, our company, or the Combined Company, was renamed American Healthcare REIT, Inc. and our operating partnership, also referred to as the surviving partnership, was renamed American Healthcare REIT Holdings, LP. The REIT Merger qualified as a reorganization under, and within the meaning of, Section 368(a) of the Code. As a result of and at the effective time of the Merger, the separate corporate existence of GAHR III and GAHR IV Operating Partnership ceased.</span></div><div style="margin-top:8pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the effective time of the REIT Merger, each issued and outstanding share of GAHR III’s common stock, $0.01 par value per share, converted into the right to receive 0.9266 shares of GAHR IV’s Class I common stock, $0.01 par value per share. At the effective time of the Partnership Merger, (i) each unit of limited partnership interest in our operating partnership outstanding as of immediately prior to the effective time of the Partnership Merger was converted automatically into the right to receive 0.9266 of a Partnership Class I Unit, as defined in the agreement of limited partnership, as amended, of the surviving partnership and (ii) each unit of limited partnership interest in GAHR IV Operating Partnership outstanding as of immediately prior to the effective time of the Partnership Merger was converted automatically into the right to receive one unit of limited partnership interest of the surviving partnership of like class.</span></div><div style="margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:107%">AHI Acquisition</span></div><div style="margin-top:8pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Also on October 1, 2021, immediately prior to the consummation of the Merger, GAHR III acquired a newly formed entity, American Healthcare Opps Holdings, LLC, or NewCo, which we refer to as the AHI Acquisition, pursuant to a contribution and exchange agreement dated June 23, 2021, or the Contribution Agreement, between GAHR III; our operating partnership; American Healthcare Investors, LLC, or AHI; Griffin Capital Company, LLC, or Griffin Capital; Platform Healthcare Investor T-II, LLC; Flaherty Trust; and Jeffrey T. Hanson, our former Chief Executive Officer and current Executive Chairman of the Board of Directors, Danny Prosky, our former Chief Operating Officer and current Chief Executive Officer and President, and Mathieu B. Streiff, our former Executive Vice President, General Counsel and current Chief </span></div><div style="margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating Officer, or collectively, the AHI Principals. NewCo owned substantially all of the business and operations of AHI, as well as all of the equity interests in (i) Griffin-American Healthcare REIT IV Advisor, LLC, or GAHR IV Advisor, a subsidiary of AHI that served as the external advisor of GAHR IV, and (ii) Griffin-American Healthcare REIT III Advisor, LLC, or GAHR III Advisor, also referred to as our former advisor, a subsidiary of AHI that served as the external advisor of GAHR III. See “Operating Partnership and Former Advisor” below for a further discussion. </span></div><div style="margin-top:8pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the Contribution Agreement, AHI contributed substantially all of its business and operations to the surviving partnership, including its interest in GAHR III Advisor and GAHR IV Advisor, and Griffin Capital contributed its then-current ownership interest in GAHR III Advisor and GAHR IV Advisor to the surviving partnership. In exchange for these contributions, the surviving partnership issued limited partnership units, or surviving partnership OP units. Subject to working capital and other customary adjustments, the total approximate value of these surviving partnership OP units at the time of consummation of the transactions contemplated by the Contribution Agreement was approximately $131,674,000, with a reference value for purposes thereof of $8.71 per unit, such that the surviving partnership issued 15,117,529 surviving partnership OP units as consideration, or the Closing Date Consideration. Following the consummation of the Merger and the AHI Acquisition, the Combined Company became self-managed. As of March 31, 2022 and December 31, 2021, such surviving partnership OP units are owned by AHI Group Holdings, LLC, or AHI Group Holdings, which is owned and controlled by the AHI Principals, Platform Healthcare Investor T-II, LLC, Flaherty Trust and a wholly owned subsidiary of Griffin Capital, or collectively, the NewCo Sellers. </span></div><div style="margin-top:8pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The AHI Acquisition was treated as a business combination for accounting purposes, with GAHR III as both the legal and accounting acquiror of NewCo. While GAHR IV was the legal acquiror of GAHR III in the REIT Merger, GAHR III was determined to be the accounting acquiror in the REIT Merger in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 805, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Business Combinations</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, after considering the relative share ownership and the composition of the governing body of the Combined Company. Thus, the financial information set forth herein subsequent to the consummation of the Merger and the AHI Acquisition reflects results of the Combined Company, and the financial information set forth herein prior to the Merger and the AHI Acquisition reflects GAHR III’s results. For this reason, period to period comparisons may not be meaningful. </span></div><div style="margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Operating Partnership and Former Advisor</span></div><div style="margin-top:8pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We conduct substantially all of our operations through our operating partnership. Through September 30, 2021, we were externally advised by our former advisor pursuant to an advisory agreement, as amended, or the Advisory Agreement, between us and our former advisor. Our former advisor used its best efforts, subject to the oversight and review of our board of directors, or our board, to, among other things, provide asset management, property management, acquisition, disposition and other advisory services on our behalf consistent with our investment policies and objectives.</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Following the Merger and the AHI Acquisition, we became self-managed and are no longer externally advised. As a result, any fees that would have otherwise been payable to our former advisor are no longer being paid. Also, on October 1, 2021 and in connection with the AHI Acquisition, our operating partnership redeemed all 22,222 shares of our common stock owned by our former advisor and the 20,833 shares of our Class T common stock owned by GAHR IV Advisor in GAHR IV. </span></div><div style="margin-top:8pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Prior to the Merger and the AHI Acquisition, our former advisor was 75.0% owned and managed by wholly owned subsidiaries of AHI, and 25.0% owned by a wholly owned subsidiary of Griffin Capital, or collectively, our former co-sponsors. Prior to the AHI Acquisition, AHI was 47.1% owned by AHI Group Holdings, 45.1% indirectly owned by Digital Bridge Group, Inc. (NYSE: DBRG), or Digital Bridge, and 7.8% owned by James F. Flaherty III. We were not affiliated with Griffin Capital, Digital Bridge or Mr. Flaherty; however, we were affiliated with our former advisor, AHI and AHI Group Holdings. Please see the “Merger of Griffin-American Healthcare REIT III, Inc. and Griffin-American Healthcare REIT IV, Inc.” and “AHI Acquisition” sections above for a further discussion of our operations effective October 1, 2021. See Note 13, Redeemable Noncontrolling Interests, and Note 14, Equity — Noncontrolling Interests in Total Equity, for a further discussion of the ownership in our operating partnership.</span></div><div style="margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:112%">Public Offering</span></div><div style="margin-top:8pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Prior to the Merger, we raised $1,842,618,000 through a best efforts initial public offering that commenced on February 26, 2014, or the GAHR III initial offering, and issued 184,930,598 shares of our common stock. In addition, during the GAHR III initial offering, we issued 1,948,563 shares of our common stock pursuant to our initial distribution reinvestment plan, or the Initial DRIP, for a total of $18,511,000 in distributions reinvested. Following the deregistration of the GAHR III initial offering on April 22, 2015, we continued issuing shares of our common stock pursuant to subsequent distribution reinvestment plan offerings.</span></div><div style="margin-top:8pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">See Note 14, Equity — Common Stock, and Note 14, Equity — Distribution Reinvestment Plan, for a further discussion of our public offerings.</span></div><div style="margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Our Real Estate Investments Portfolio</span></div><div style="margin-top:8pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We currently operate through six reportable business segments: medical office buildings, integrated senior health campuses, skilled nursing facilities, SHOP, senior housing and hospitals. As of March 31, 2022, we owned and/or operated 182 properties, comprising 191 buildings, and 122 integrated senior health campuses including completed development projects, or approximately 19,461,000 square feet of gross leasable area, or GLA, for an aggregate contract purchase price of $4,299,872,000, including the fair value of the properties acquired in the Merger. In addition, as of March 31, 2022, we also owned a real estate-related debt investment purchased for $60,429,000.</span></div><div style="margin-top:8pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">COVID-19</span></div><div style="margin-top:8pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our residents, tenants, operating partners and managers, our industry and the U.S. economy continue to be disrupted by the COVID-19 pandemic and related supply chain disruptions and labor shortages. The timing and extent of the economic recovery from the COVID-19 pandemic is dependent upon many factors, including the rate of vaccination, the emergence and severity of COVID-19 variants, the continued effectiveness of the vaccines against those variants, the frequency of booster vaccinations and the duration and implications of continued restrictions and safety measures. As the COVID-19 pandemic is still impacting the healthcare system to a certain extent, it continues to present challenges for us as an owner and operator of healthcare facilities, making it difficult to ascertain the long-term impact the COVID-19 pandemic will have on real estate markets in which we own and/or operate properties and our portfolio of investments. </span></div><div style="margin-top:8pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have evaluated the impacts of the COVID-19 pandemic on our business thus far and incorporated information concerning such impacts into our assessments of liquidity, impairment and collectability from tenants and residents as of March 31, 2022. We will continue to monitor such impacts and will adjust our estimates and assumptions based on the best available information.</span></div>
CY2022Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
6 segment
gahr Numberof Properties Acquiredfrom Unaffiliated Parties
NumberofPropertiesAcquiredfromUnaffiliatedParties
182 Property
gahr Number Of Buildings Acquired From Unaffiliated Parties
NumberOfBuildingsAcquiredFromUnaffiliatedParties
191 Building
gahr Number Of Integrated Senior Health Campuses Acquired From Unaffiliated Parties
NumberOfIntegratedSeniorHealthCampusesAcquiredFromUnaffiliatedParties
122 Campus
CY2022Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
19461000 sqft
gahr Acquisition Aggregated Cost Of Acquired Properties Purchase Price Netof Disposals
AcquisitionAggregatedCostOfAcquiredPropertiesPurchasePriceNetofDisposals
4299872000 USD
gahr Acquisitionaggregatedcostofacquiredrealestaterelatedinvestmentspurchasepricenetofprincipalrepayments
Acquisitionaggregatedcostofacquiredrealestaterelatedinvestmentspurchasepricenetofprincipalrepayments
60429000 USD
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:8pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of our accompanying condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, as well as the disclosure of contingent assets and liabilities, at the date of our condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates and assumptions include, but are not limited to, the initial and recurring valuation of certain assets acquired and liabilities assumed through property acquisitions, including through business combinations, goodwill and its impairment, revenues and grant income, allowance for credit losses, impairment of long-lived and intangible assets and contingencies. These estimates are made and evaluated on an on-going basis using information that is currently available as well as various other assumptions believed to be reasonable under the circumstances. Actual results could differ from those estimates, perhaps in material adverse ways, and those estimates could be different under different assumptions or conditions.</span></div>
CY2021Q4 us-gaap Accrued Insurance Current And Noncurrent
AccruedInsuranceCurrentAndNoncurrent
36440000 USD
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses Policy For Uncollectible Amounts
FinancingReceivableAllowanceForCreditLossesPolicyForUncollectibleAmounts
<div style="margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Tenant and Resident Receivables and Allowances</span></div><div style="margin-top:8pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Resident receivables, which are related to resident fees and services, are carried net of an allowance for credit losses. An allowance is maintained for estimated losses resulting from the inability of residents and payors to meet the contractual obligations under their lease or service agreements. Substantially all of such allowances are recorded as direct reductions of resident fees and services revenue as contractual adjustments provided to third-party payors or implicit price concessions in our accompanying condensed consolidated statements of operations and comprehensive loss. Our determination of the adequacy of these allowances is based primarily upon evaluations of historical loss experience, the residents’ financial condition, security deposits, cash collection patterns by payor and by state, current economic conditions, future expectations in estimating credit losses and other relevant factors. Tenant receivables, which are related to real estate revenue, and unbilled deferred rent receivables are reduced for uncollectible amounts, which are recognized as direct reductions of real estate revenue in our accompanying condensed consolidated statements of operations and comprehensive loss.</span></div>
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
13872000 USD
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
12378000 USD
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
5223000 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
2478000 USD
CY2022Q1 gahr Accounts Receivable Allowancefor Credit Loss Period Increase Decreasefrom Collectionsor Adjustments
AccountsReceivableAllowanceforCreditLossPeriodIncreaseDecreasefromCollectionsorAdjustments
-2099000 USD
CY2021Q1 gahr Accounts Receivable Allowancefor Credit Loss Period Increase Decreasefrom Collectionsor Adjustments
AccountsReceivableAllowanceforCreditLossPeriodIncreaseDecreasefromCollectionsorAdjustments
-1505000 USD
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
1630000 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
1606000 USD
CY2022Q1 gahr Reimbursement Of Payroll Related Costs To Managers
ReimbursementOfPayrollRelatedCostsToManagers
28456000 USD
CY2021Q4 gahr Reimbursement Of Payroll Related Costs To Managers
ReimbursementOfPayrollRelatedCostsToManagers
31101000 USD
CY2022Q1 us-gaap Accrued Insurance Current And Noncurrent
AccruedInsuranceCurrentAndNoncurrent
35294000 USD
CY2021Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
22102000 USD
CY2022Q1 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
21654000 USD
CY2022Q1 gahr Accrued Developments And Capital Expenditures
AccruedDevelopmentsAndCapitalExpenditures
14750000 USD
CY2021Q4 gahr Accrued Developments And Capital Expenditures
AccruedDevelopmentsAndCapitalExpenditures
22852000 USD
CY2022Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
8794000 USD
CY2021Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
8768000 USD
CY2021Q1 gahr Early Payoff Of Mortgage Payable
EarlyPayoffOfMortgagePayable
101734000 USD
CY2022Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
4031430000 USD
CY2021Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
4038572000 USD
CY2022Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
555795000 USD
CY2021Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
523886000 USD
CY2022Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
3475635000 USD
CY2021Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
3514686000 USD
CY2022Q1 us-gaap Depreciation
Depreciation
34422000 USD
CY2021Q1 us-gaap Depreciation
Depreciation
24190000 USD
CY2022Q1 gahr Sale Of Ownership Interest In Real Estate Percent
SaleOfOwnershipInterestInRealEstatePercent
0.770
CY2022Q1 gahr Contract Sale Price Of Disposition
ContractSalePriceOfDisposition
19622000 USD
CY2022Q1 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
756000 USD
CY2022Q1 gahr Ownership Interest In Real Estate Percent
OwnershipInterestInRealEstatePercent
0.230
CY2022Q1 gahr Ownership Interest In Real Estate Percent
OwnershipInterestInRealEstatePercent
0.230
CY2022Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedEquipment
1558000 USD
CY2022Q1 gahr Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Certificates Of Need
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCertificatesOfNeed
690000 USD
CY2022Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
588000 USD
CY2022Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Long Term Debt
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt
56000 USD
CY2022Q1 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
80239000 USD
CY2021Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
79315000 USD
CY2022Q1 gahr Heldto Maturity Debt Securities Unamortizedclosingcosts
HeldtoMaturityDebtSecuritiesUnamortizedclosingcosts
948000 USD
CY2021 gahr Heldto Maturity Debt Securities Unamortizedclosingcosts
HeldtoMaturityDebtSecuritiesUnamortizedclosingcosts
1004000 USD
CY2022Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
980000 USD
CY2021Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
881000 USD
CY2022Q1 us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
56000 USD
CY2021Q1 us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
47000 USD
CY2022Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
241140000 USD
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
248871000 USD
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
8239000 USD
CY2021Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1196000 USD
CY2022Q1 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P8Y8M12D
CY2021 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P8Y9M18D
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
16985000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
17202000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
13673000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
11034000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
9864000 USD
CY2022Q1 gahr Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
45015000 USD
CY2022Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
113773000 USD
CY2022Q1 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
42672000 USD
CY2021Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
41061000 USD
CY2022Q1 gahr Prepaid Expense Deposits Other Assets And Deferred Tax Assets
PrepaidExpenseDepositsOtherAssetsAndDeferredTaxAssets
33818000 USD
CY2021Q4 gahr Prepaid Expense Deposits Other Assets And Deferred Tax Assets
PrepaidExpenseDepositsOtherAssetsAndDeferredTaxAssets
22484000 USD
CY2022Q1 us-gaap Equity Method Investments
EquityMethodInvestments
22726000 USD
CY2021Q4 us-gaap Equity Method Investments
EquityMethodInvestments
15615000 USD
CY2022Q1 us-gaap Inventory Net
InventoryNet
18087000 USD
CY2021Q4 us-gaap Inventory Net
InventoryNet
18929000 USD
CY2022Q1 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
5100000 USD
CY2021Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
4911000 USD
CY2022Q1 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
16283000 USD
CY2021Q4 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
16120000 USD
CY2022Q1 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
3668000 USD
CY2021Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
8469000 USD
CY2022Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
6130000 USD
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
3781000 USD
CY2022Q1 gahr Accumulated Amortization Lease Inducements
AccumulatedAmortizationLeaseInducements
1930000 USD
CY2021Q4 gahr Accumulated Amortization Lease Inducements
AccumulatedAmortizationLeaseInducements
1842000 USD
CY2022Q1 gahr Lease Inducements Weighted Average Remaining Life
LeaseInducementsWeightedAverageRemainingLife
P8Y8M12D
CY2021 gahr Lease Inducements Weighted Average Remaining Life
LeaseInducementsWeightedAverageRemainingLife
P8Y10M24D
CY2022Q1 us-gaap Incentive To Lessee
IncentiveToLessee
3070000 USD
CY2021Q4 us-gaap Incentive To Lessee
IncentiveToLessee
3158000 USD
CY2022Q1 us-gaap Other Assets
OtherAssets
142786000 USD
CY2021Q4 us-gaap Other Assets
OtherAssets
121148000 USD
CY2022Q1 gahr Amortizationof Deferred Lease Inducements
AmortizationofDeferredLeaseInducements
88000 USD
CY2021Q1 gahr Amortizationof Deferred Lease Inducements
AmortizationofDeferredLeaseInducements
88000 USD
CY2022Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1121901000 USD
CY2022Q1 us-gaap Secured Debt
SecuredDebt
1103006000 USD
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1116216000 USD
CY2021Q4 us-gaap Secured Debt
SecuredDebt
1095594000 USD
CY2022Q1 gahr Number Of Fixed Rate Mortgage Loans Payable
NumberOfFixedRateMortgageLoansPayable
67 MortgageLoan
CY2022Q1 gahr Number Of Variable Rate Mortgage Loans Payable
NumberOfVariableRateMortgageLoansPayable
11 MortgageLoan
CY2021Q4 gahr Number Of Fixed Rate Mortgage Loans Payable
NumberOfFixedRateMortgageLoansPayable
66 MortgageLoan
CY2021Q4 gahr Number Of Variable Rate Mortgage Loans Payable
NumberOfVariableRateMortgageLoansPayable
12 MortgageLoan
CY2022Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1121901000 USD
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1116216000 USD
CY2022Q1 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
356000 USD
CY2021Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
397000 USD
CY2022Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
10937000 USD
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
12339000 USD
CY2022Q1 us-gaap Secured Debt
SecuredDebt
1103006000 USD
CY2021Q4 us-gaap Secured Debt
SecuredDebt
1095594000 USD
CY2021Q4 us-gaap Secured Debt
SecuredDebt
1095594000 USD
CY2020Q4 us-gaap Secured Debt
SecuredDebt
810478000 USD
CY2022Q1 gahr Proceeds From Mortgage Loans
ProceedsFromMortgageLoans
88659000 USD
CY2021Q1 gahr Proceeds From Mortgage Loans
ProceedsFromMortgageLoans
205826000 USD
CY2022Q1 gahr Amortizationofdeferredfinancingcostsrelatedtomortgage
Amortizationofdeferredfinancingcostsrelatedtomortgage
2078000 USD
CY2021Q1 gahr Amortizationofdeferredfinancingcostsrelatedtomortgage
Amortizationofdeferredfinancingcostsrelatedtomortgage
2627000 USD
CY2022Q1 us-gaap Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
4538000 USD
CY2021Q1 us-gaap Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
3480000 USD
CY2022Q1 gahr Early Payoff Of Mortgage Payable
EarlyPayoffOfMortgagePayable
78437000 USD
CY2021Q1 gahr Early Payoff Of Mortgage Payable
EarlyPayoffOfMortgagePayable
101734000 USD
CY2022Q1 gahr Capitalizeddeferredfinancingcostsformortgages
Capitalizeddeferredfinancingcostsformortgages
333000 USD
CY2021Q1 gahr Capitalizeddeferredfinancingcostsformortgages
Capitalizeddeferredfinancingcostsformortgages
1037000 USD
CY2022Q1 gahr Long Term Debt Without Lender Approval
LongTermDebtWithoutLenderApproval
14137000 USD
CY2022Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-17000 USD
CY2021Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
203000 USD
CY2022Q1 us-gaap Secured Debt
SecuredDebt
1103006000 USD
CY2021Q1 us-gaap Secured Debt
SecuredDebt
912883000 USD
CY2022Q1 gahr Numberofdebtinstrumentsextinguished
Numberofdebtinstrumentsextinguished
8 MortgageLoan
CY2021Q1 gahr Numberofdebtinstrumentsextinguished
Numberofdebtinstrumentsextinguished
10 MortgageLoan
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
121952000 USD
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
121130000 USD
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
163974000 USD
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
29571000 USD
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
155402000 USD
CY2022Q1 gahr Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
529872000 USD
CY2022Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1121901000 USD
CY2022Q1 gahr Mortgage Loans Without Lender Approval
MortgageLoansWithoutLenderApproval
2 MortgageLoan
CY2022Q1 us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
500000 USD
CY2021Q1 us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
1821000 USD
CY2022Q1 gahr Finite Lived Intangible Liabilities Amortization Expenses Remainder Of Fiscal Year
FiniteLivedIntangibleLiabilitiesAmortizationExpensesRemainderOfFiscalYear
1239000 USD
CY2022Q1 gahr Finite Lived Intangible Liabilities Amortization Expenses Year Two
FiniteLivedIntangibleLiabilitiesAmortizationExpensesYearTwo
1596000 USD
CY2022Q1 gahr Finite Lived Intangible Liabilities Amortization Expenses Year Three
FiniteLivedIntangibleLiabilitiesAmortizationExpensesYearThree
1475000 USD
CY2022Q1 gahr Finite Lived Intangible Liabilities Amortization Expenses Year Four
FiniteLivedIntangibleLiabilitiesAmortizationExpensesYearFour
1347000 USD
CY2022Q1 gahr Finite Lived Intangible Liabilities Amortization Expenses Year Five
FiniteLivedIntangibleLiabilitiesAmortizationExpensesYearFive
1198000 USD
CY2022Q1 gahr Finite Lived Intangible Liabilities Amortization Expenses After Year Five
FiniteLivedIntangibleLiabilitiesAmortizationExpensesAfterYearFive
5222000 USD
CY2022Q1 gahr Finite Lived Intangible Liabilities Net
FiniteLivedIntangibleLiabilitiesNet
12077000 USD
CY2022Q1 gahr Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest With Redemption Features Outstanding
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterestWithRedemptionFeaturesOutstanding
0.010
CY2021Q4 us-gaap Redeemable Noncontrolling Interest Equity Fair Value
RedeemableNoncontrollingInterestEquityFairValue
72725000 USD
CY2020Q4 us-gaap Redeemable Noncontrolling Interest Equity Fair Value
RedeemableNoncontrollingInterestEquityFairValue
40340000 USD
CY2022Q1 gahr Additional Redeemable Noncontrolling Interests
AdditionalRedeemableNoncontrollingInterests
173000 USD
CY2021Q1 gahr Additional Redeemable Noncontrolling Interests
AdditionalRedeemableNoncontrollingInterests
0 USD
CY2022Q1 gahr Reclassificationof Noncontrolling Interest
ReclassificationofNoncontrollingInterest
-21000 USD
CY2021Q1 gahr Reclassificationof Noncontrolling Interest
ReclassificationofNoncontrollingInterest
0 USD
CY2022Q1 gahr Paymentsto Redeemable Noncontrolling Interest
PaymentstoRedeemableNoncontrollingInterest
695000 USD
CY2021Q1 gahr Paymentsto Redeemable Noncontrolling Interest
PaymentstoRedeemableNoncontrollingInterest
0 USD
CY2022Q1 gahr Adjustments To Additional Paid In Capital Adjustment To Redeemable Noncontrolling Interests
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27000 USD
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191000 USD
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4799000 sqft
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173000 USD
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23325000 USD
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500000 USD
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756000 USD
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1260000 USD
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168000 USD
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253026000 USD
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30023000 USD
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20365000 USD
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1821000 USD
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-335000 USD
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291278000 USD
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272000 USD
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415000 USD
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163000 USD
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4556185000 USD
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3514686000 USD
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1 State
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0 tenant
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CY2022Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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1490000 USD
CY2021Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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0 USD

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