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Segment Reporting (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information |
|  | For the Three Months Ended March 31, 2025
|  | Medical Office and Life Science Portfolio |  | SHOP |  | Total |  |
Revenues: |  |  |  |  |  |  |  |
Rental income |  | $ | 49,763 |  |  | $ | — |  |  | $ | 49,763 |  |  |
Residents fees and services |  | — |  |  | 328,306 |  |  | 328,306 |  |  |
Total segment revenues |  | 49,763 |  |  | 328,306 |  |  | 378,069 |  |  |
Reconciliation of revenue: |  |  |  |  |  |  |  |
Other revenue (1) |  |  |  |  |  | 8,795 |  |  |
Total revenues |  |  |  |  |  | 386,864 |  |  |
Less: |  |  |  |  |  |  |  |
Senior living labor and benefits |  | — |  |  | 162,404 |  |  | 162,404 |  |  |
Dietary |  | — |  |  | 20,246 |  |  | 20,246 |  |  |
Utilities |  | 3,602 |  |  | 19,578 |  |  | 23,180 |  |  |
Real estate taxes |  | 5,834 |  |  | 12,070 |  |  | 17,904 |  |  |
Insurance |  | 621 |  |  | 10,313 |  |  | 10,934 |  |  |
Other operating expenses (2) |  | 12,850 |  |  | 66,867 |  |  | 79,717 |  |  |
Interest expense |  | 2,253 |  |  | 66 |  |  | 2,319 |  |  |
Depreciation and amortization |  | 17,321 |  |  | 48,635 |  |  | 65,956 |  |  |
Other segment items (3) |  | 26,018 |  |  | (8,786) |  |  | 17,232 |  |  |
Segment loss |  | (18,736) |  |  | (3,087) |  |  | (21,823) |  |  |
Reconciliation of segment loss: |  |  |  |  |  |  |  |
Other income (1) |  |  |  |  |  | 6,485 |  |  |
General and administrative |  |  |  |  |  | (9,000) |  |  |
Acquisition and certain other transaction related costs |  |  |  |  |  | (24) |  |  |
Gain on sale of properties |  |  |  |  |  | 97,560 |  |  |
Interest and other income |  |  |  |  |  | 2,099 |  |  |
Interest expense |  |  |  |  |  | (55,512) |  |  |
Loss on modification or early extinguishment of debt |  |  |  |  |  | (29,071) |  |  |
Income tax expense |  |  |  |  |  | (49) |  |  |
Equity in net earnings of an investee |  |  |  |  |  | 349 |  |  |
Net loss |  |  |  |  |  | $ | (8,986) |  |  |
(1)Revenue and net income from our triple net leased wellness centers and senior living communities that are leased to third party operators, which we do not consider to be sufficiently material to constitute a separate reportable segment. (2)Other operating expenses for each reportable segment include expenses such as management fees, repairs and maintenance, cleaning and other costs incurred in connection with the operation of our properties. (3)Other segment items for each reportable segment include impairment of assets, gain (loss) on sale of properties, gain (loss) on modification or early extinguishment of debt, equity in net earnings (losses) of investees, interest and other income and gain on insurance recoveries, as applicable.
|  | For the Three Months Ended March 31, 2024 |  |
|  | Medical Office and Life Science Portfolio |  | SHOP |  | Total |  |
Revenues: |  |  |  |  |  |  |  |
Rental income |  | $ | 54,149 |  |  | $ | — |  |  | $ | 54,149 |  |  |
Residents fees and services |  | — |  |  | 308,126 |  |  | 308,126 |  |  |
Total segment revenues |  | 54,149 |  |  | 308,126 |  |  | 362,275 |  |  |
Reconciliation of revenue: |  |  |  |  |  |  |  |
Other revenue (1) |  |  |  |  |  | 8,501 |  |  |
Total revenues |  |  |  |  |  | 370,776 |  |  |
Less: |  |  |  |  |  |  |  |
Senior living labor and benefits |  | — |  |  | 157,881 |  |  | 157,881 |  |  |
Dietary |  | — |  |  | 20,519 |  |  | 20,519 |  |  |
Utilities |  | 3,409 |  |  | 18,254 |  |  | 21,663 |  |  |
Real estate taxes |  | 7,180 |  |  | 11,463 |  |  | 18,643 |  |  |
Insurance |  | 734 |  |  | 11,207 |  |  | 11,941 |  |  |
Other operating expenses (2) |  | 12,574 |  |  | 64,092 |  |  | 76,666 |  |  |
Interest expense |  | 222 |  |  | 68 |  |  | 290 |  |  |
Depreciation and amortization |  | 20,740 |  |  | 46,922 |  |  | 67,662 |  |  |
Other segment items (3) |  | 16,403 |  |  | — |  |  | 16,403 |  |  |
Segment loss |  | (7,113) |  |  | (22,280) |  |  | (29,393) |  |  |
Reconciliation of segment loss: |  |  |  |  |  |  |  |
Other income (1) |  |  |  |  |  | 5,739 |  |  |
General and administrative |  |  |  |  |  | (7,568) |  |  |
Acquisition and certain other transaction related costs |  |  |  |  |  | (86) |  |  |
Interest and other income |  |  |  |  |  | 2,237 |  |  |
Interest expense |  |  |  |  |  | (57,286) |  |  |
Income tax expense |  |  |  |  |  | (187) |  |  |
Equity in net earnings of an investee |  |  |  |  |  | 285 |  |  |
Net loss |  |  |  |  |  | $ | (86,259) |  |  |
(1)Revenue and net income from our triple net leased wellness centers and senior living communities that are leased to third party operators, which we do not consider to be sufficiently material to constitute a separate reportable segment. (2)Other operating expenses for each reportable segment include expenses such as management fees, repairs and maintenance, cleaning and other costs incurred in connection with the operation of our properties. (3)Other segment items for each reportable segment include impairment of assets, gain (loss) on sale of properties, gain (loss) on modification or early extinguishment of debt, equity in net earnings (losses) of investees, interest and other income and gain on insurance recoveries, as applicable.
| As of March 31, 2025 |  | As of December 31, 2024
Assets (1) |  |  |
Medical Office and Life Science Portfolio | $ | 1,474,576 |  |  | $ | 1,688,034 |
SHOP | 3,046,342 |  |  | 3,084,101 |
All Other | 474,925 |  |  | 364,870 |
Total assets | $ | 4,995,843 |  |  | $ | 5,137,005 |
(1)See Note 3 for further information regarding additions to long-lived assets.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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