v3.24.3
Segment Reporting
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
We operate in, and report financial information for, the following two segments: Medical Office and Life Science Portfolio and SHOP. We aggregate the operating results of our properties in these two reporting segments based on their similar operating and economic characteristics. Our Medical Office and Life Science Portfolio segment primarily consists of medical office properties leased to medical providers and other medical related businesses, as well as life science properties primarily leased to biotech laboratories and other similar tenants. Our SHOP segment consists of managed senior living communities that provide short term and long term residential living and, in some instances, care and other services for residents where we pay fees to managers to operate the communities on our behalf.
We also report “non-segment” operations, which consists of triple net leased senior living communities and wellness centers that are leased to third party operators from which we receive rents, which we do not consider to be sufficiently material
to constitute a separate reporting segment, and any other income or expenses that are not attributable to a specific reporting segment.
For the Three Months Ended September 30, 2024
 Medical Office and Life Science PortfolioSHOPNon-SegmentConsolidated
Revenues:    
Rental income$52,901 $— $8,734 $61,635 
Residents fees and services— 312,005 — 312,005 
Total revenues52,901 312,005 8,734 373,640 
Expenses:    
Property operating expenses25,074 284,572 51 309,697 
Depreciation and amortization18,773 47,343 2,843 68,959 
General and administrative— — 13,933 13,933 
Acquisition and certain other transaction related costs
— — 331 331 
Impairment of assets23,031 — — 23,031 
Total expenses66,878 331,915 17,158 415,951 
Gain on sale of properties111 — — 111 
Interest and other income— — 2,575 2,575 
Interest expense(2,319)(54)(57,070)(59,443)
Loss before income tax expense and equity in net earnings (losses) of investees(16,185)(19,964)(62,919)(99,068)
Income tax expense— — (148)(148)
Equity in net earnings (losses) of investees1,707 — (1,180)527 
Net loss$(14,478)$(19,964)$(64,247)$(98,689)
 For the Nine Months Ended September 30, 2024
 Medical Office and Life Science PortfolioSHOPNon-SegmentConsolidated
Revenues:    
Rental income$161,605 $— $25,550 $187,155 
Residents fees and services— 928,653 — 928,653 
Total revenues161,605 928,653 25,550 1,115,808 
Expenses:    
Property operating expenses73,253 847,526 587 921,366 
Depreciation and amortization58,488 141,176 7,785 207,449 
General and administrative— — 27,763 27,763 
Acquisition and certain other transaction related costs
— — 2,243 2,243 
Impairment of assets41,718 — — 41,718 
Total expenses173,459 988,702 38,378 1,200,539 
Loss on sale of properties(18,976)— — (18,976)
Interest and other income— — 7,215 7,215 
Interest expense(3,435)(183)(172,103)(175,721)
Loss on modification or early extinguishment of debt— — (209)(209)
Loss before income tax expense and equity in net (losses) earnings of investees(34,265)(60,232)(177,925)(272,422)
Income tax expense— — (505)(505)
Equity in net (losses) earnings of investees(18,173)— 8,291 (9,882)
Net loss$(52,438)$(60,232)$(170,139)$(282,809)
 As of September 30, 2024
 Medical Office and Life Science PortfolioSHOP Non-SegmentConsolidated
Total assets$1,726,082 $3,111,775 $447,339 $5,285,196 
 For the Three Months Ended September 30, 2023
 Medical Office and Life Science PortfolioSHOPNon-SegmentConsolidated
Revenues:    
Rental income$55,058 $— $8,332 $63,390 
Residents fees and services— 293,134 — 293,134 
Total revenues55,058 293,134 8,332 356,524 
Expenses:    
Property operating expenses25,784 272,445 203 298,432 
Depreciation and amortization20,175 44,587 2,474 67,236 
General and administrative— — 6,954 6,954 
Acquisition and certain other transaction related costs
— — 3,676 3,676 
Impairment of assets427 729 — 1,156 
Total expenses46,386 317,761 13,307 377,454 
Interest and other income— 115 3,128 3,243 
Interest expense(119)(79)(47,560)(47,758)
Income (loss) before income tax expense and equity in net losses of investees8,553 (24,591)(49,407)(65,445)
Income tax expense— — (189)(189)
Equity in net losses of investees(145)— — (145)
Net income (loss)$8,408 $(24,591)$(49,596)$(65,779)
 For the Nine Months Ended September 30, 2023
 Medical Office and Life Science PortfolioSHOP Non-SegmentConsolidated
Revenues:    
Rental income$165,448 $— $25,753 $191,201 
Residents fees and services— 857,572 — 857,572 
Total revenues165,448 857,572 25,753 1,048,773 
Expenses:    
Property operating expenses73,237 796,733 770 870,740 
Depreciation and amortization63,065 129,891 7,474 200,430 
General and administrative— — 20,111 20,111 
Acquisition and certain other transaction related costs
— — 9,812 9,812 
Impairment of assets14,034 4,346 — 18,380 
Total expenses150,336 930,970 38,167 1,119,473 
Gain on sale of properties— 1,233 — 1,233 
Gains on equity securities, net— — 8,126 8,126 
Interest and other income— 1,581 10,991 12,572 
Interest expense(344)(502)(142,076)(142,922)
Loss on modification or early extinguishment of debt— — (1,075)(1,075)
Income (loss) before income tax expense and equity in net earnings of investees14,768 (71,086)(136,448)(192,766)
Income tax expense— — (379)(379)
Equity in net earnings of investees2,137 — — 2,137 
Net income (loss)$16,905 $(71,086)$(136,827)$(191,008)
 As of December 31, 2023
Medical Office and Life Science PortfolioSHOP Non-SegmentConsolidated
Total assets$1,866,422 $3,134,978 $444,736 $5,446,136