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v3.23.3

Segment Reporting (Tables) | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information |
|  | For the Three Months Ended September 30, 2023
|  | Office Portfolio |  | SHOP |  | Non-Segment |  | Consolidated
Revenues: |  |  |  |  |  |  |  |
Rental income |  | $ | 55,058 |  |  | $ | — |  |  | $ | 8,332 |  |  | $ | 63,390 |
Residents fees and services |  | — |  |  | 293,134 |  |  | — |  |  | 293,134 |
Total revenues |  | 55,058 |  |  | 293,134 |  |  | 8,332 |  |  | 356,524 |
Expenses: |  |  |  |  |  |  |  |
Property operating expenses |  | 25,784 |  |  | 272,445 |  |  | 203 |  |  | 298,432 |
Depreciation and amortization |  | 20,175 |  |  | 44,587 |  |  | 2,474 |  |  | 67,236 |
General and administrative |  | — |  |  | — |  |  | 6,954 |  |  | 6,954 |
Acquisition and certain other transaction related costs |  | — |  |  | — |  |  | 3,676 |  |  | 3,676 |
Impairment of assets |  | 427 |  |  | 729 |  |  | — |  |  | 1,156 |
Total expenses |  | 46,386 |  |  | 317,761 |  |  | 13,307 |  |  | 377,454 |
Interest and other income |  | — |  |  | 115 |  |  | 3,128 |  |  | 3,243 |
Interest expense |  | (119) |  |  | (79) |  |  | (47,560) |  |  | (47,758) |
Income (loss) before income tax expense and equity in net losses of investees |  | 8,553 |  |  | (24,591) |  |  | (49,407) |  |  | (65,445) |
Income tax expense |  | — |  |  | — |  |  | (189) |  |  | (189) |
Equity in net losses of investees |  | (145) |  |  | — |  |  | — |  |  | (145) |
Net income (loss) |  | $ | 8,408 |  |  | $ | (24,591) |  |  | $ | (49,596) |  |  | $ | (65,779) |
|  | For the Nine Months Ended September 30, 2023
|  | Office Portfolio |  | SHOP |  | Non-Segment |  | Consolidated
Revenues: |  |  |  |  |  |  |  |
Rental income |  | $ | 165,448 |  |  | $ | — |  |  | $ | 25,753 |  |  | $ | 191,201 |
Residents fees and services |  | — |  |  | 857,572 |  |  | — |  |  | 857,572 |
Total revenues |  | 165,448 |  |  | 857,572 |  |  | 25,753 |  |  | 1,048,773 |
Expenses: |  |  |  |  |  |  |  |
Property operating expenses |  | 73,237 |  |  | 796,733 |  |  | 770 |  |  | 870,740 |
Depreciation and amortization |  | 63,065 |  |  | 129,891 |  |  | 7,474 |  |  | 200,430 |
General and administrative |  | — |  |  | — |  |  | 20,111 |  |  | 20,111 |
Acquisition and certain other transaction related costs |  | — |  |  | — |  |  | 9,812 |  |  | 9,812 |
Impairment of assets |  | 14,034 |  |  | 4,346 |  |  | — |  |  | 18,380 |
Total expenses |  | 150,336 |  |  | 930,970 |  |  | 38,167 |  |  | 1,119,473 |
Gain on sale of properties |  | — |  |  | 1,233 |  |  | — |  |  | 1,233 |
Gains on equity securities, net |  | — |  |  | — |  |  | 8,126 |  |  | 8,126 |
Interest and other income |  | — |  |  | 1,581 |  |  | 10,991 |  |  | 12,572 |
Interest expense |  | (344) |  |  | (502) |  |  | (142,076) |  |  | (142,922) |
Loss on modification or early extinguishment of debt |  | — |  |  | — |  |  | (1,075) |  |  | (1,075) |
Income (loss) before income tax expense and equity in net earnings of investees |  | 14,768 |  |  | (71,086) |  |  | (136,448) |  |  | (192,766) |
Income tax expense |  | — |  |  | — |  |  | (379) |  |  | (379) |
Equity in net earnings of investees |  | 2,137 |  |  | — |  |  | — |  |  | 2,137 |
Net income (loss) |  | $ | 16,905 |  |  | $ | (71,086) |  |  | $ | (136,827) |  |  | $ | (191,008) |
|  | As of September 30, 2023
|  | Office Portfolio |  | SHOP |  | Non-Segment |  | Consolidated
Total assets |  | $ | 1,918,452 |  |  | $ | 3,132,120 |  |  | $ | 479,684 |  |  | $ | 5,530,256 |
|  | For the Three Months Ended September 30, 2022
|  | Office Portfolio |  | SHOP |  | Non-Segment |  | Consolidated
Revenues: |  |  |  |  |  |  |  |
Rental income |  | $ | 55,254 |  |  | $ | — |  |  | $ | 8,706 |  |  | $ | 63,960 |
Residents fees and services |  | — |  |  | 258,960 |  |  | — |  |  | 258,960 |
Total revenues |  | 55,254 |  |  | 258,960 |  |  | 8,706 |  |  | 322,920 |
Expenses: |  |  |  |  |  |  |  |
Property operating expenses |  | 24,179 |  |  | 264,722 |  |  | 195 |  |  | 289,096 |
Depreciation and amortization |  | 19,037 |  |  | 38,484 |  |  | 2,886 |  |  | 60,407 |
General and administrative |  | — |  |  | — |  |  | 6,179 |  |  | 6,179 |
Acquisition and certain other transaction related costs |  | — |  |  | — |  |  | 289 |  |  | 289 |
Total expenses |  | 43,216 |  |  | 303,206 |  |  | 9,549 |  |  | 355,971 |
(Loss) gain on sale of properties |  | (5,074) |  |  | 30 |  |  | — |  |  | (5,044) |
Losses on equity securities, net |  | — |  |  | — |  |  | (2,674) |  |  | (2,674) |
Interest and other income |  | — |  |  | 125 |  |  | 3,974 |  |  | 4,099 |
Interest expense |  | (217) |  |  | (298) |  |  | (46,421) |  |  | (46,936) |
Income (loss) before income tax expense and equity in net earnings of investees |  | 6,747 |  |  | (44,389) |  |  | (45,964) |  |  | (83,606) |
Income tax expense |  | — |  |  | — |  |  | (13) |  |  | (13) |
Equity in net earnings of investees |  | 2,127 |  |  | — |  |  | — |  |  | 2,127 |
Net income (loss) |  | $ | 8,874 |  |  | $ | (44,389) |  |  | $ | (45,977) |  |  | $ | (81,492) |
|  | For the Nine Months Ended September 30, 2022
|  | Office Portfolio |  | SHOP |  | Non-Segment |  | Consolidated
Revenues: |  |  |  |  |  |  |  |
Rental income |  | $ | 162,861 |  |  | $ | — |  |  | $ | 28,906 |  |  | $ | 191,767 |
Residents fees and services |  | — |  |  | 754,914 |  |  | — |  |  | 754,914 |
Total revenues |  | 162,861 |  |  | 754,914 |  |  | 28,906 |  |  | 946,681 |
Expenses: |  |  |  |  |  |  |  |
Property operating expenses |  | 69,652 |  |  | 754,057 |  |  | 195 |  |  | 823,904 |
Depreciation and amortization |  | 55,424 |  |  | 111,836 |  |  | 8,667 |  |  | 175,927 |
General and administrative |  | — |  |  | — |  |  | 20,671 |  |  | 20,671 |
Acquisition and certain other transaction related costs |  | — |  |  | — |  |  | 1,826 |  |  | 1,826 |
Total expenses |  | 125,076 |  |  | 865,893 |  |  | 31,359 |  |  | 1,022,328 |
Gain on sale of properties |  | 321,242 |  |  | 822 |  |  | — |  |  | 322,064 |
Losses on equity securities, net |  | — |  |  | — |  |  | (21,384) |  |  | (21,384) |
Interest and other income |  | — |  |  | 1,084 |  |  | 5,676 |  |  | 6,760 |
Interest expense |  | (798) |  |  | (1,283) |  |  | (157,961) |  |  | (160,042) |
Gain (loss) on modification or early extinguishment of debt |  | 16 |  |  | — |  |  | (30,059) |  |  | (30,043) |
Income (loss) before income tax expense and equity in net earnings of investees |  | 358,245 |  |  | (110,356) |  |  | (206,181) |  |  | 41,708 |
Income tax expense |  | — |  |  | — |  |  | (845) |  |  | (845) |
Equity in net earnings of investees |  | 8,685 |  |  | — |  |  | — |  |  | 8,685 |
Net income (loss) |  | $ | 366,930 |  |  | $ | (110,356) |  |  | $ | (207,026) |  |  | $ | 49,548 |
| As of December 31, 2022
| Office Portfolio |  | SHOP |  | Non-Segment |  | Consolidated
Total assets | $ | 1,967,244 |  |  | $ | 3,147,785 |  |  | $ | 887,064 |  |  | $ | 6,002,093 |

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