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Segment Reporting
3 Months Ended
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
SHOPNon-SegmentConsolidated
Revenues:    
Rental income$54,149 $— $8,501 $62,650 
Residents fees and services— 308,126 — 308,126 
Total revenues54,149 308,126 8,501 370,776 
Expenses:    
Property operating expenses23,897 283,416 291 307,604 
Depreciation and amortization20,740 46,922 2,471 70,133 
General and administrative— — 7,568 7,568 
Acquisition and certain other transaction related costs
— — 86 86 
Impairment of assets12,142 — — 12,142 
Total expenses56,779 330,338 10,416 397,533 
Loss on sale of properties(5,874)— — (5,874)
Gains on equity securities, net— — — — 
Interest and other income— — 2,237 2,237 
Interest expense(222)(68)(57,286)(57,576)
Loss before income tax expense and equity in net earnings of investees(8,726)(22,280)(56,964)(87,970)
Income tax expense— — (187)(187)
Equity in net earnings of investees1,613 — 285 1,898 
Net loss$(7,113)$(22,280)$(56,866)$(86,259)
 As of March 31, 2024
 
Medical Office and Life Science Portfolio
SHOP Non-SegmentConsolidated
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
SHOPNon-SegmentConsolidated
Revenues:    
Rental income$57,022 $— $9,416 $66,438 
Residents fees and services— 279,592 — 279,592 
Total revenues57,022 279,592 9,416 346,030 
Expenses:    
Property operating expenses23,515 262,329 236 286,080 
Depreciation and amortization20,035 42,152 2,613 64,800 
General and administrative— — 5,873 5,873 
Acquisition and certain other transaction related costs
— — 93 93 
Impairment of assets2,308 3,617 — 5,925 
Total expenses45,858 308,098 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 investees11,055 (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-SegmentConsolidated
Total assets$1,866,422 $3,134,978 $444,736 $5,446,136