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Real Estate Investments - Financing Receivable (Details) |  |  | 3 Months Ended | 9 Months Ended |  |
--- | --- | --- | --- | --- | --- | ---
Sep. 30, 2025 USD ($) | Jun. 30, 2025 | Sep. 30, 2024 USD ($) property Option | Sep. 30, 2025 USD ($) item $ / item | Sep. 30, 2024 USD ($) property | Sep. 30, 2025 property | Sep. 30, 2025 item | Dec. 31, 2024 USD ($)
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] |  |  |  |  |  |  |  |
Gross Investment | $ 1,596,451,000 |  |  | $ 1,596,451,000 |  |  |  |
Number of properties |  |  |  |  |  | 128 | 128 |
Accrued interest | 4,009,000 |  |  | 4,009,000 |  |  |  | $ 3,094,000
Financing receivables |  |  |  |  |  |  |  |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] |  |  |  |  |  |  |  |
Gross Investment | $ 362,201,000 |  |  | 362,201,000 |  |  |  |
LTC Investment |  |  |  | $ 283,935,000 |  |  |  |
Number of properties | property |  |  |  |  |  | 31 |  |
Number of Beds/Units | item |  |  |  | 1,562 |  |  |  |
Mortgage loans with 11.1% interest maturing 2043 |  |  |  |  |  |  |  |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] |  |  |  |  |  |  |  |
Interest rate (as a percent) | 11.14% | 8.50% |  |  |  |  |  |
Gross Investment | $ 180,388,000 |  |  | $ 180,388,000 |  |  |  |
Accrued interest | 41,455,000 |  |  | 41,455,000 |  |  |  |
SNF |  |  |  |  |  |  |  |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] |  |  |  |  |  |  |  |
Gross Investment | 599,663,000 |  |  | $ 599,663,000 |  |  |  |
Number of properties |  |  |  |  |  | 50 | 50 |
Investment per Bed/Unit | $ / item |  |  |  | 94.45 |  |  |  |
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 | 76,545,000 |  |  | $ 76,545,000 |  |  |  |
LTC Investment |  |  |  | $ 62,220,000 |  |  |  |
Number of properties | property |  |  |  |  |  | 3 |  |
Number of Beds/Units | item |  |  |  | 299 |  |  |  |
Investment per Bed/Unit | $ / item |  |  |  | 256 |  |  |  |
Percentage of cash return |  |  |  | 8.50% |  |  |  |
SH |  |  |  |  |  |  |  |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] |  |  |  |  |  |  |  |
Gross Investment | 984,783,000 |  |  | $ 984,783,000 |  |  |  |
Number of properties |  |  |  |  |  | 77 | 77 |
Investment per Bed/Unit | $ / item |  |  |  | 197.71 |  |  |  |
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 | 122,460,000 |  | $ 122,460,000 | $ 122,460,000 | $ 122,460,000 |  |  |
LTC Investment |  |  | $ 64,450,000 | $ 64,450,000 |  |  |  |
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 |  |  | $ 5,546,000 |  |  |  |  |
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 | 122,196,000 |  |  | $ 122,196,000 |  |  |  |
LTC Investment |  |  |  | $ 119,280,000 |  |  |  |
Number of properties | property |  |  |  |  |  | 11 |  |
Number of Beds/Units | item |  |  |  | 523 |  |  |  |
Investment per Bed/Unit | $ / item |  |  |  | 233,640 |  |  |  |
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 | $ 41,000,000 |  |  | $ 41,000,000 |  |  |  |
LTC Investment |  |  | $ 37,985,000 | $ 37,985,000 |  |  |  |
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 |  |  | $ 2,766,000 |  |  |  |  |
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 |  |  |  |  | $ 5,546,000 |  |  |
Affiliates of ALG | SH | North Carolina | 7.25% (2034 Maturity Year Two) |  |  |  |  |  |  |  |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] |  |  |  |  |  |  |  |
Gross Investment |  |  | $ 41,000,000 |  | $ 41,000,000 |  |  |

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