XML 60 R49.htm IDEA: XBRL DOCUMENT v3.24.2
Real Estate Investments - Financing Receivable (Details)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended 24 Months Ended
Jun. 30, 2024
USD ($)
Option
property
Jun. 30, 2023
USD ($)
Jun. 30, 2024
USD ($)
property
item
$ / item
Jun. 30, 2023
USD ($)
Dec. 31, 2023
USD ($)
item
property
Option
$ / item
Dec. 31, 2022
USD ($)
property
Option
item
$ / item
Dec. 31, 2023
USD ($)
item
property
Nov. 30, 2023
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]                
Gross Investment $ 1,342,069   $ 1,342,069          
Number of properties | property 125   125          
Interest income from financing receivables $ 3,830 $ 3,830 $ 7,660 $ 7,581        
Non-controlling interest owned by JV partner 7.00%              
Lease renewal term               4 years
Provision for credit losses $ 703 187 727 1,918        
Financing receivables                
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]                
Gross Investment 163,557 $ 121,332 163,557 $ 121,332 $ 361,525   $ 361,525  
Amount exchanged             $ 282,498  
Number of properties | property         31   31  
Number of Beds/Units | item             1,562  
Florida | 7.25% (2032 Maturity Year)                
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]                
Number of properties | property           3    
Lease term           10 years    
Number of operating lease renewals | Option           2    
Lease renewal term           5 years    
SNF                
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]                
Gross Investment $ 597,666   $ 597,666          
Number of properties | property 50   50          
Investment per Bed/Unit | $ / item     94.14          
SNF | Florida | 7.25% (2032 Maturity Year)                
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]                
Interest rate (as a percent)           7.25%    
Gross Investment           $ 76,647    
Amount exchanged           $ 62,476    
Number of properties | property           3    
Number of Beds/Units | item           299    
Investment per Bed/Unit | $ / item           256.34    
ALF & MC | North Carolina | 7.25% (2033 Maturity Year)                
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]                
Interest rate (as a percent)         7.25%      
Gross Investment         $ 121,418   $ 121,418  
Amount exchanged         $ 117,587      
Number of properties | property         11   11  
Number of Beds/Units | item         523      
Investment per Bed/Unit | $ / item         232,160      
Percentage of contractual initial cash yield         7.25%      
Lease term         10 years   10 years  
Number of operating lease renewals | Option         2      
Lease renewal term         5 years   5 years  
Percentage of contractual initial cash yield in year three         7.50%      
Percentage of floor on initial cash yield         2.00%      
Percentage of ceiling on initial cash yield         4.00%      
Maximum percentage of purchase option to buy properties         50.00%      
Percentage of cash return         9.00%      
Interest income deferred     $ 1,466          
Interest income deferred per month     $ 250          
ALF & MC | North Carolina | 7.25% (2034 Maturity Year)                
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]                
Interest rate (as a percent)     7.25%          
Gross Investment $ 122,460   $ 122,460          
Amount exchanged $ 64,450   $ 64,450          
Number of properties | property 13   13          
Number of Beds/Units | item     523          
Investment per Bed/Unit | $ / item     234.15          
Additional amount funded under mortgage loan $ 5,546              
Controlling interest obtained from JV (%) 53.00%              
Non-controlling interest owned by JV partner 47.00%              
Lease term 10 years   10 years          
Number of operating lease renewals | Option 2              
Lease renewal term 5 years   5 years          
Percentage of cash return 8.00%              
ALF                
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]                
Gross Investment $ 732,398   $ 732,398          
Number of properties | property 74   74          
Investment per Bed/Unit | $ / item     165.66          
ALF | North Carolina/ South Carolina | 7.25% (2034 Maturity Year)                
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]                
Interest rate (as a percent)           7.25%    
Gross Investment           $ 41,000    
Amount exchanged $ 37,985         $ 37,985    
Number of properties | property 4   4     4    
Number of Beds/Units | item           217    
Investment per Bed/Unit | $ / item           188.94    
Additional amount funded under mortgage loan $ 2,766              
Controlling interest obtained from JV (%) 93.00%              
Lease term 10 years   10 years          
Number of operating lease renewals | Option 2              
Lease renewal term 5 years   5 years          
Percentage of cash return 8.00%              
Affiliates of ALG                
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]                
Additional amount funded under mortgage loan     $ 5,546          
Affiliates of ALG | ALF | 7.25% (2034 Maturity Year)                
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]                
Gross Investment $ 41,000   41,000          
Affiliates of ALG | ALF | North Carolina                
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]                
Additional amount funded under mortgage loan     $ 2,766