v3.26.1
SEGMENT INFORMATION - Income Statement (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues    
Rental income $ 353,175 $ 377,432
Income from loans and investments 4,069 4,324
Interest and other income 2,499 3,078
Revenues 1,656,944 1,358,074
Less:    
Interest and other income 2,499 3,078
Labor 513,961 392,624
Management fees 67,563 50,611
Other segment expenses 420,010 340,649
Property-level operating expenses 1,001,534 783,884
NOI 651,078 569,287
Interest and other income 2,499 3,078
Interest expense (156,142) (149,356)
Depreciation and amortization (382,468) (321,525)
General, administrative and professional fees (62,746) (53,149)
Loss on extinguishment of debt, net (449) 0
Transaction, transition and restructuring costs (6,659) (5,982)
Other expense (9,700) (1,412)
Income (loss) from unconsolidated entities (7,350) (3,311)
Gain on real estate dispositions 15,046 169
Income tax expense (benefit) (15,937) (10,557)
Net income 59,046 48,356
Net income attributable to noncontrolling interests 3,134 1,488
Net income attributable to common stockholders 55,912 46,868
Resident fees and services    
Revenues    
Resident fees and services 1,292,790 968,904
Third-party capital management expenses    
Revenues    
Other revenues 4,411 4,336
Less:    
Third-party capital management expenses 1,833 1,825
Operating Segments | SHOP    
Revenues    
Rental income 0 0
Income from loans and investments 0 0
Interest and other income 0 0
Revenues 1,292,790 968,904
Less:    
Interest and other income 0 0
Labor 513,961 392,624
Management fees 67,563 50,611
Other segment expenses 336,808 261,165
Property-level operating expenses 918,332 704,400
NOI 374,458 264,504
Interest and other income 0 0
Operating Segments | SHOP | Resident fees and services    
Revenues    
Resident fees and services 1,292,790 968,904
Operating Segments | SHOP | Third-party capital management expenses    
Revenues    
Other revenues 0 0
Less:    
Third-party capital management expenses 0 0
Operating Segments | OM&R    
Revenues    
Rental income 230,104 221,319
Income from loans and investments 0 0
Interest and other income 0 0
Revenues 230,904 221,999
Less:    
Interest and other income 0 0
Labor 0 0
Management fees 0 0
Other segment expenses 80,301 75,957
Property-level operating expenses 80,301 75,957
NOI 150,603 146,042
Interest and other income 0 0
Operating Segments | OM&R | Resident fees and services    
Revenues    
Resident fees and services 0 0
Operating Segments | OM&R | Third-party capital management expenses    
Revenues    
Other revenues 800 680
Less:    
Third-party capital management expenses 0 0
Operating Segments | NNN    
Revenues    
Rental income 123,071 156,113
Income from loans and investments 0 0
Interest and other income 0 0
Revenues 123,071 156,113
Less:    
Interest and other income 0 0
Labor 0 0
Management fees 0 0
Other segment expenses 2,901 3,527
Property-level operating expenses 2,901 3,527
NOI 120,170 152,586
Interest and other income 0 0
Operating Segments | NNN | Resident fees and services    
Revenues    
Resident fees and services 0 0
Operating Segments | NNN | Third-party capital management expenses    
Revenues    
Other revenues 0 0
Less:    
Third-party capital management expenses 0 0
Non-Segment    
Revenues    
Rental income 0 0
Income from loans and investments 4,069 4,324
Interest and other income 2,499 3,078
Revenues 10,179 11,058
Less:    
Interest and other income 2,499 3,078
Labor 0 0
Management fees 0 0
Other segment expenses 0 0
Property-level operating expenses 0 0
NOI 5,847 6,155
Interest and other income 2,499 3,078
Non-Segment | Resident fees and services    
Revenues    
Resident fees and services 0 0
Non-Segment | Third-party capital management expenses    
Revenues    
Other revenues 3,611 3,656
Less:    
Third-party capital management expenses $ 1,833 $ 1,825