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v3.25.2

Real Estate Investments - Financing Receivable (Details) $ in Thousands | 3 Months Ended | 6 Months Ended |
--- | --- | --- | ---
Jun. 30, 2024 USD ($) Option property | Jun. 30, 2025 USD ($) property item $ / item | Jun. 30, 2024 USD ($) property | Jun. 30, 2025 USD ($) | Jun. 30, 2025 item
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] |  |  |  |  |
Gross Investment |  |  |  | $ 1,329,683 |
Number of properties |  | 121 |  |  | 121
Financing receivables |  |  |  |  |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] |  |  |  |  |
Gross Investment |  |  |  | 361,438 |
LTC Investment |  | $ 283,172 |  |  |
Number of properties | property |  | 31 |  |  |
Number of Beds/Units | item |  | 1,562 |  |  |
SNF |  |  |  |  |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] |  |  |  |  |
Gross Investment |  |  |  | 598,800 |
Number of properties |  | 50 |  |  | 50
Investment per Bed/Unit | $ / item |  | 94.31 |  |  |
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 |  |  |  | 76,559 |
LTC Investment |  | $ 62,234 |  |  |
Number of properties | property |  | 3 |  |  |
Number of Beds/Units | item |  | 299 |  |  |
Investment per Bed/Unit | $ / item |  | 256.05 |  |  |
SH |  |  |  |  |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] |  |  |  |  |
Gross Investment |  |  |  | 718,878 |
Number of properties |  | 70 |  |  | 70
Investment per Bed/Unit | $ / item |  | 169.71 |  |  |
SH | North Carolina/ South Carolina | 7.25% (2034 Maturity Year One) |  |  |  |  |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] |  |  |  |  |
Interest rate (as a percent) |  | 7.25% |  |  |
Gross Investment | $ 122,460 |  | $ 122,460 | 122,460 |
LTC Investment | $ 64,450 | $ 64,450 |  |  |
Number of properties | property | 13 | 13 | 13 |  |
Number of Beds/Units | item |  | 523 |  |  |
Investment per Bed/Unit | $ / item |  | 234.15 |  |  |
Percentage of cash return | 8.00% |  |  |  |
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 |  |
SH | 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 |  |  |  | 121,419 |
LTC Investment |  | $ 118,503 |  |  |
Number of properties | property |  | 11 |  |  |
Number of Beds/Units | item |  | 523 |  |  |
Investment per Bed/Unit | $ / item |  | 232,160 |  |  |
Percentage of cash return |  | 9.00% |  |  |
SH | North Carolina | 7.25% (2034 Maturity Year One) |  |  |  |  |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] |  |  |  |  |
Number of properties | property | 12 |  | 12 |  |
SH | North Carolina | 7.25% (2034 Maturity Year Two) |  |  |  |  |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] |  |  |  |  |
Interest rate (as a percent) |  | 7.25% |  |  |
Gross Investment |  |  |  | $ 41,000 |
LTC Investment | $ 37,985 | $ 37,985 |  |  |
Number of properties | property | 4 | 4 | 4 |  |
Number of Beds/Units | item |  | 217 |  |  |
Investment per Bed/Unit | $ / item |  | 188.94 |  |  |
Percentage of cash return | 8.00% |  |  |  |
Additional amount funded under mortgage loan | $ 2,766 |  |  |  |
Controlling interest obtained from JV (%) | 93.00% |  |  |  |
Non-controlling interest owned by JV partner | 7.00% |  |  |  |
Lease term | 10 years |  | 10 years |  |
Number of operating lease renewals | Option | 2 |  |  |  |
Lease renewal term | 5 years |  | 5 years |  |
SH | South Carolina | 7.25% (2034 Maturity Year One) |  |  |  |  |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] |  |  |  |  |
Number of properties | property | 1 |  | 1 |  |
Affiliates of ALG |  |  |  |  |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] |  |  |  |  |
Additional amount funded under mortgage loan |  |  | $ 5,546 |  |
Affiliates of ALG | SH | North Carolina | 7.25% (2034 Maturity Year Two) |  |  |  |  |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] |  |  |  |  |
Gross Investment | $ 41,000 |  | $ 41,000 |  |

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