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Dispositions, Real Property Held for Sale and Impairment | 3 Months Ended
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Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Dispositions, Real Property Held for Sale and Impairment | Dispositions, Real Property Held for Sale and Impairment We periodically sell properties for various reasons, including favorable market conditions, the exercise of tenant purchase options or reduction of concentrations (i.e., property type, relationship or geography). At March 31, 2022, three Seniors Housing Operating, 11 Triple-net, and one Outpatient Medical properties with an aggregate real estate balance of $199,490,000 were classified as held for sale. In addition to the real property balances held for sale, lease liabilities of $66,893,000 and net other assets and (liabilities) of $2,462,000 are included in the Consolidated Balance Sheets related to the held for sale properties. Expected gross sales proceeds related to the held for sale properties is approximately $273,165,000. During the three months ended March 31, 2021, we recorded $12,098,000 of impairment charges related to one Triple-net property classified as held for sale for which the carrying value exceeded the estimated fair value less cost to sell. Additionally, during the three months ended March 31, 2021, we recorded $11,470,000 of impairment charges related to one Seniors Housing Operating property and two Triple-net properties that were held for use in which the carrying value exceeded the estimated fair value. The following is a summary of our real property disposition activity for the periods presented (in thousands):
|  | Three Months Ended March 31,
|  | 2022 |  | 2021
Real estate dispositions: |  |  |  |
Seniors Housing Operating |  | $ | — |  |  | $ | 74,326 |
Triple-net |  | 52,661 |  |  | — |
Outpatient Medical |  | — |  |  | 137,890 |
Total dispositions |  | 52,661 |  |  | 212,216 |
Gain (loss) on real estate dispositions, net |  | 22,934 |  |  | 59,080 |
Net other assets/(liabilities) disposed |  | (2,027) |  |  | 2,912 |
Proceeds from real estate dispositions |  | $ | 73,568 |  |  | $ | 274,208 |
Operating results attributable to properties sold or classified as held for sale, which do not meet the definition of discontinued operations are not reclassified on our Consolidated Statements of Comprehensive Income. The following represents the activity related to these properties for the periods presented (in thousands):
|  | Three Months Ended March 31, |  |  |
|  | 2022 |  | 2021 |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |
Total revenues |  | $ | 4,958 |  |  | $ | 30,414 |  |  |  |  |  |
Expenses: |  |  |  |  |  |  |  |  |
Interest expense |  | 871 |  |  | 1,115 |  |  |  |  |  |
Property operating expenses |  | 1,971 |  |  | 3,576 |  |  |  |  |  |
Provision for depreciation |  | 13 |  |  | 6,368 |  |  |  |  |  |
Total expenses |  | 2,855 |  |  | 11,059 |  |  |  |  |  |
Income (loss) from real estate dispositions, net |  | $ | 2,103 |  |  | $ | 19,355 |  |  |  |  |  |

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- References No definition available. + Details
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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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