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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (8,986) $ (86,259)
Adjustments to reconcile net loss to cash (used in) provided by operating activities:    
Depreciation and amortization 68,325 70,133
Net amortization of debt discounts, premiums, issuance costs and interest rate cap 26,087 24,863
Payment of accreted interest on senior secured notes (34,700) 0
Straight line rental income (455) (291)
Amortization of acquired real estate leases and other intangible assets, net 26 28
Loss on modification or early extinguishment of debt 29,071 0
Impairment of assets 38,472 12,142
(Gain) loss on sale of properties (110,140) 5,874
Gain on insurance recoveries (7,522) 0
Other non-cash adjustments, net (351) (385)
Unconsolidated joint venture distributions 0 1,231
Equity in net earnings of investees (1,487) (1,898)
Change in assets and liabilities:    
Deferred leasing costs, net (773) (669)
Other assets 6,444 10,102
Accrued interest (1,733) 904
Other liabilities (5,521) (7,173)
Net cash (used in) provided by operating activities (3,243) 28,602
Cash flows from investing activities:    
Real estate improvements (39,650) (46,723)
Proceeds from sale of properties, net 318,235 3,343
Investment in AlerisLife Inc. 0 (15,459)
Equity method investment distribution 17,000 0
Contributions to unconsolidated joint ventures (5,800) 0
Proceeds from insurance recoveries 1,308 0
Net cash provided by (used in) investing activities 291,093 (58,839)
Cash flows from financing activities:    
Proceeds from mortgage notes payable 140,000 0
Redemption of senior secured notes (238,555) 0
Repayment of other debt (840) (822)
Early extinguishment of debt settled in cash (25,903) 0
Payment of debt issuance costs (3,332) (5,257)
Repurchase of common shares (6) (78)
Distributions to shareholders (2,413) (2,404)
Net cash used in financing activities (131,049) (8,561)
Increase (decrease) in cash and cash equivalents and restricted cash 156,801 (38,798)
Cash and cash equivalents and restricted cash at beginning of period 149,854 246,961
Cash and cash equivalents and restricted cash at end of period $ 306,655 $ 208,163