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Segment Reporting
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Our operating segments are based on our internal reporting structure and property type and are aligned with how our Chief Operating Decision Maker, or the CODM, reviews the operating results to allocate resources and assess segment performance. The CODM is our President and Chief Executive Officer. Our two reportable segments are Medical Office and Life Science Portfolio and SHOP. 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.
The significant expense categories and amounts presented below align with the segment-level information that is regularly provided to our CODM. The CODM reviews operating and financial results, including net income (loss) and its components, to assess performance, allocate resources and guide strategic decisions. For further information regarding the accounting policies of our reportable segments, see Note 2 to our consolidated financial statements included in Part IV, Item 15 of our Annual Report. The tables below present information about our segments.
 
For the Three Months Ended March 31, 2025
 Medical Office and Life Science Portfolio
SHOP
Total
Revenues:   
Rental income$49,763 $— $49,763 
Residents fees and services— 328,306 328,306 
Total segment revenues49,763 328,306 378,069 
Reconciliation of revenue:
Other revenue (1)
8,795 
Total revenues386,864 
Less:   
Senior living labor and benefits— 162,404 162,404 
Dietary— 20,246 20,246 
Utilities3,602 19,578 23,180 
Real estate taxes5,834 12,070 17,904 
Insurance621 10,313 10,934 
Other operating expenses (2)
12,850 66,867 79,717 
Interest expense2,253 66 2,319 
Depreciation and amortization17,321 48,635 65,956 
Other segment items (3)
26,018 (8,786)17,232 
Segment loss(18,736)(3,087)(21,823)
Reconciliation of segment loss:
Other income (1)
6,485 
General and administrative(9,000)
Acquisition and certain other transaction related costs(24)
Gain on sale of properties97,560 
Interest and other income2,099 
Interest expense(55,512)
Loss on modification or early extinguishment of debt(29,071)
Income tax expense(49)
Equity in net earnings of an investee349 
Net loss$(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 PortfolioSHOPTotal
Revenues:   
Rental income$54,149 $— $54,149 
Residents fees and services— 308,126 308,126 
Total segment revenues54,149 308,126 362,275 
Reconciliation of revenue:
Other revenue (1)
8,501 
Total revenues370,776 
Less:   
Senior living labor and benefits— 157,881 157,881 
Dietary— 20,519 20,519 
Utilities3,409 18,254 21,663 
Real estate taxes7,180 11,463 18,643 
Insurance734 11,207 11,941 
Other operating expenses (2)
12,574 64,092 76,666 
Interest expense222 68 290 
Depreciation and amortization20,740 46,922 67,662 
Other segment items (3)
16,403 — 16,403 
Segment loss(7,113)(22,280)(29,393)
Reconciliation of segment loss:
Other income (1)
5,739 
General and administrative(7,568)
Acquisition and certain other transaction related costs(86)
Interest and other income2,237 
Interest expense(57,286)
Income tax expense(187)
Equity in net earnings of an investee285 
Net loss$(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, 2025As of December 31, 2024
Assets (1)
Medical Office and Life Science Portfolio$1,474,576 $1,688,034 
SHOP3,046,342 3,084,101 
All Other474,925 364,870 
Total assets$4,995,843 $5,137,005 
(1)See Note 3 for further information regarding additions to long-lived assets.