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Variable Interest Entities | 3 Months Ended
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Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Variable Interest Entities | Variable Interest Entities We have entered into joint ventures and have certain subsidiaries that are wholly owned by consolidated joint ventures and own certain seniors housing and outpatient medical assets which are deemed to be VIEs. We have concluded that we are the primary beneficiary of these VIEs based on a combination of operational control of the entities and the rights to receive residual returns or the obligation to absorb losses arising from the entities. Except for capital contributions associated with the initial entity formations, the entities have been and are expected to be funded from the ongoing operations of the underlying properties. Accordingly, such entities have been consolidated, and the table below summarizes the balance sheets of consolidated VIEs in the aggregate (in thousands):
|  | March 31, 2023 |  | December 31, 2022
Assets: |  |  |  |
Net real estate investments |  | $ | 1,492,518 |  |  | $ | 1,499,078 |
Cash and cash equivalents |  | 11,577 |  |  | 15,582 |
Receivables and other assets |  | 32,582 |  |  | 9,949 |
Total assets (1) |  | $ | 1,536,677 |  |  | $ | 1,524,609 |
Liabilities and equity: |  |  |  |
Secured debt |  | $ | 155,678 |  |  | $ | 155,992 |
Lease liabilities |  | 1,329 |  |  | 1,329 |
Accrued expenses and other liabilities |  | 39,119 |  |  | 28,417 |
Total equity |  | 1,340,551 |  |  | 1,338,871 |
Total liabilities and equity |  | $ | 1,536,677 |  |  | $ | 1,524,609 |
(1) Note that assets of the consolidated VIEs can only be used to settle obligations relating to such VIEs. Liabilities of the consolidated VIEs represent claims against the specific assets of the VIEs.

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- References No definition available. + Details
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- Definition The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI https://asc.fasb.org/topic&trid=2197479 + Details
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