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Segment Reporting | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting We operate in, and report financial information for, the following two segments: Medical Office and Life Science Portfolio and senior housing operating portfolio, or SHOP. We aggregate the operating results of our properties in these two reporting segments based on their similar operating and economic characteristics. Our Medical Office and Life Science Portfolio segment primarily consists of medical office properties leased to medical providers and other medical related businesses, as well as life science properties primarily leased to biotech laboratories and other similar tenants. Our SHOP segment consists of managed senior living communities that provide short term and long term residential living and, in some instances, care and other services for residents where we pay fees to managers to operate the communities on our behalf. We also report “non-segment” operations, which consists of triple net leased senior living communities and wellness centers that are leased to third party operators from which we receive rents, which we do not consider to be sufficiently material to constitute a separate reporting segment, and any other income or expenses that are not attributable to a specific reporting segment.
|  | For the Three Months Ended March 31, 2024
|  | Medical Office and Life Science Portfolio |  | SHOP |  | Non-Segment |  | Consolidated
Revenues: |  |  |  |  |  |  |  |
Rental income |  | $ | 54,149 |  |  | $ | — |  |  | $ | 8,501 |  |  | $ | 62,650 |
Residents fees and services |  | — |  |  | 308,126 |  |  | — |  |  | 308,126 |
Total revenues |  | 54,149 |  |  | 308,126 |  |  | 8,501 |  |  | 370,776 |
Expenses: |  |  |  |  |  |  |  |
Property operating expenses |  | 23,897 |  |  | 283,416 |  |  | 291 |  |  | 307,604 |
Depreciation and amortization |  | 20,740 |  |  | 46,922 |  |  | 2,471 |  |  | 70,133 |
General and administrative |  | — |  |  | — |  |  | 7,568 |  |  | 7,568 |
Acquisition and certain other transaction related costs |  | — |  |  | — |  |  | 86 |  |  | 86 |
Impairment of assets |  | 12,142 |  |  | — |  |  | — |  |  | 12,142 |
Total expenses |  | 56,779 |  |  | 330,338 |  |  | 10,416 |  |  | 397,533 |
Loss on sale of properties |  | (5,874) |  |  | — |  |  | — |  |  | (5,874) |
Gains on equity securities, net |  | — |  |  | — |  |  | — |  |  | — |
Interest and other income |  | — |  |  | — |  |  | 2,237 |  |  | 2,237 |
Interest expense |  | (222) |  |  | (68) |  |  | (57,286) |  |  | (57,576) |
Loss before income tax expense and equity in net earnings of investees |  | (8,726) |  |  | (22,280) |  |  | (56,964) |  |  | (87,970) |
Income tax expense |  | — |  |  | — |  |  | (187) |  |  | (187) |
Equity in net earnings of investees |  | 1,613 |  |  | — |  |  | 285 |  |  | 1,898 |
Net loss |  | $ | (7,113) |  |  | $ | (22,280) |  |  | $ | (56,866) |  |  | $ | (86,259) |
|  | As of March 31, 2024
|  | Medical Office and Life Science Portfolio |  | SHOP |  | Non-Segment |  | Consolidated
Total assets |  | $ | 1,834,609 |  |  | $ | 3,103,540 |  |  | $ | 409,888 |  |  | $ | 5,348,037 |
|  | For the Three Months Ended March 31, 2023
|  | Medical Office and Life Science Portfolio |  | SHOP |  | Non-Segment |  | Consolidated
Revenues: |  |  |  |  |  |  |  |
Rental income |  | $ | 57,022 |  |  | $ | — |  |  | $ | 9,416 |  |  | $ | 66,438 |
Residents fees and services |  | — |  |  | 279,592 |  |  | — |  |  | 279,592 |
Total revenues |  | 57,022 |  |  | 279,592 |  |  | 9,416 |  |  | 346,030 |
Expenses: |  |  |  |  |  |  |  |
Property operating expenses |  | 23,515 |  |  | 262,329 |  |  | 236 |  |  | 286,080 |
Depreciation and amortization |  | 20,035 |  |  | 42,152 |  |  | 2,613 |  |  | 64,800 |
General and administrative |  | — |  |  | — |  |  | 5,873 |  |  | 5,873 |
Acquisition and certain other transaction related costs |  | — |  |  | — |  |  | 93 |  |  | 93 |
Impairment of assets |  | 2,308 |  |  | 3,617 |  |  | — |  |  | 5,925 |
Total expenses |  | 45,858 |  |  | 308,098 |  |  | 8,815 |  |  | 362,771 |
Gain on sale of properties |  | — |  |  | 1,233 |  |  | — |  |  | 1,233 |
Gains on equity securities, net |  | — |  |  | — |  |  | 8,126 |  |  | 8,126 |
Interest and other income |  | — |  |  | — |  |  | 4,195 |  |  | 4,195 |
Interest expense |  | (109) |  |  | (271) |  |  | (47,400) |  |  | (47,780) |
Loss on modification or early extinguishment of debt |  | — |  |  | — |  |  | (1,075) |  |  | (1,075) |
Income (loss) before income tax benefit and equity in net losses of investees |  | 11,055 |  |  | (27,544) |  |  | (35,553) |  |  | (52,042) |
Income tax benefit |  | — |  |  | — |  |  | 31 |  |  | 31 |
Equity in net losses of investees |  | (647) |  |  | — |  |  | — |  |  | (647) |
Net income (loss) |  | $ | 10,408 |  |  | $ | (27,544) |  |  | $ | (35,522) |  |  | $ | (52,658) |
| As of December 31, 2023
| Medical Office and Life Science Portfolio |  | SHOP |  | Non-Segment |  | Consolidated
Total assets | $ | 1,866,422 |  |  | $ | 3,134,978 |  |  | $ | 444,736 |  |  | $ | 5,446,136 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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