XML 60 R47.htm IDEA: XBRL DOCUMENT v3.25.2
Indebtedness - Narrative (Details)
 1 Months Ended 3 Months Ended 6 Months Ended
Aug. 01, 2025
USD ($)
property
Jun. 30, 2025
USD ($)
property
option
May 31, 2025
USD ($)
property
Apr. 30, 2025
USD ($)
property
Mar. 31, 2025
USD ($)
property
Jun. 30, 2025
USD ($)
property
option
Jun. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
property
option
Jun. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
Indebtedness                    
Number of properties owned (property) | property   341       341   341    
Repayments amount               $ 679,158,000    
Secured revolving credit facility   $ 0       $ 0   $ 0   $ 0
Held for sale                    
Indebtedness                    
Number of properties owned (property) | property   21       21   21    
Held for sale | Subsequent Event                    
Indebtedness                    
Number of properties owned (property) | property 49                  
Secured Debts                    
Indebtedness                    
Principal balance   $ 1,112,676,000       $ 1,112,676,000   $ 1,112,676,000   1,070,336,000
Senior Unsecured Notes                    
Indebtedness                    
Debt face amount   1,600,000,000       1,600,000,000   1,600,000,000   1,980,000,000
Unsecured Debt, Not Guaranteed                    
Indebtedness                    
Debt face amount   $ 1,100,000,000       $ 1,100,000,000   $ 1,100,000,000    
Senior Secured Note Due 2026 | Subsequent Event                    
Indebtedness                    
Redemption of senior notes $ 90,588,000                  
Senior Secured Note Due 2026 | Held for sale                    
Indebtedness                    
Number of real estate properties under agreement | property   2       2   2    
Senior Secured Note Due 2026 | Held for sale | Subsequent Event                    
Indebtedness                    
Number of real estate properties under agreement | property 11                  
Senior Secured Note Due 2026 | Secured Debts                    
Indebtedness                    
Principal balance   $ 641,376,000       $ 641,376,000   $ 641,376,000   940,534,000
Interest rate (as a percent)   0.00%     0.00% 0.00%   0.00%    
Equity interest in each collateral guarantee               100.00%    
Accreted value increase rate   11.25%       11.25%   11.25%    
Amortization of debt discount           $ 16,307,000 $ 21,440,000 $ 38,429,000 $ 42,099,000  
Repayments amount         $ 299,158,000          
Senior unsecured notes, 4.375% coupon rate, due 2031 | Senior Unsecured Notes                    
Indebtedness                    
Debt face amount   $ 500,000,000       $ 500,000,000   $ 500,000,000   500,000,000
Interest rate (as a percent)   4.375%       4.375%   4.375%    
Floating Rate Mortgage Loan 6.82 Percent Due March 2028 | Secured Debts                    
Indebtedness                    
Principal balance   $ 140,000,000       $ 140,000,000   $ 140,000,000   0
Debt face amount         $ 140,000,000          
Interest rate (as a percent)   6.82%       6.82%   6.82%    
Basis points per annum (as a percent)         2.50%     2.50%    
Number of extension options | option   2       2   2    
Extension term               6 months    
Floating Rate Mortgage Loan 6.82 Percent Due March 2028 | Secured Debts | SHOP                    
Indebtedness                    
Number of properties owned (property) | property         14          
Mortgage Notes 6.22 Percent Due May 2035 | Secured Debts                    
Indebtedness                    
Principal balance   $ 108,873,000       $ 108,873,000   $ 108,873,000   0
Debt face amount       $ 108,873,000            
Interest rate (as a percent)   6.22%   6.22%   6.22%   6.22%    
Mortgage Notes 6.22 Percent Due May 2035 | Secured Debts | SHOP                    
Indebtedness                    
Number of properties owned (property) | property       7            
Mortgage Notes 6.57 Percent Due June 2030 | Secured Debts                    
Indebtedness                    
Principal balance   $ 64,000,000       $ 64,000,000   $ 64,000,000   0
Debt face amount     $ 64,000,000              
Interest rate (as a percent)   6.57% 6.57%     6.57%   6.57%    
Mortgage Notes 6.57 Percent Due June 2030 | Secured Debts | SHOP                    
Indebtedness                    
Number of properties owned (property) | property     4              
Mortgage Notes 6.36 Percent Due June 2035 | Secured Debts                    
Indebtedness                    
Principal balance   $ 30,284,000       $ 30,284,000   $ 30,284,000   0
Debt face amount     $ 30,284,000              
Interest rate (as a percent)   6.36% 6.36%     6.36%   6.36%    
Mortgage Notes 6.36 Percent Due June 2035 | Secured Debts | SHOP                    
Indebtedness                    
Number of properties owned (property) | property     2              
Senior unsecured notes, 9.750% coupon rate, due 2025 | Senior Unsecured Notes                    
Indebtedness                    
Debt face amount   $ 0       $ 0   $ 0   380,000,000
Interest rate (as a percent)   9.75% 9.75% 9.75%   9.75%   9.75%    
Repayments amount   $ 100,000,000 $ 140,000,000 $ 140,000,000   $ 380,000,000        
Secured Revolving Credit Facility Due 2029 | Secured Debts                    
Indebtedness                    
Principal balance   $ 0       $ 0   $ 0   $ 0
Interest rate (as a percent)   7.05%       7.05%   7.05%    
Basis points per annum (as a percent)               2.50%    
Revolving credit facility, maximum borrowing capacity   $ 150,000,000       $ 150,000,000   $ 150,000,000    
Number of extension options | option   2       2   2    
Extension term   6 months                
Secured revolving credit facility   $ 0       $ 0   $ 0    
Remaining borrowing capacity   $ 150,000,000       $ 150,000,000   $ 150,000,000    
Secured Revolving Credit Facility Due 2029 | Secured Debts | Subsequent Event                    
Indebtedness                    
Secured revolving credit facility $ 0                  
Secured Revolving Credit Facility Due 2029 | Secured Debts | SHOP                    
Indebtedness                    
Number of properties owned (property) | property   14       14   14    
Secured Revolving Credit Facility Due 2029 | Secured Debts | Minimum                    
Indebtedness                    
Basis points per annum (as a percent)   2.50%                
Unused commitment fee percentage   0.25%                
Secured Revolving Credit Facility Due 2029 | Secured Debts | Maximum                    
Indebtedness                    
Basis points per annum (as a percent)   3.00%                
Unused commitment fee percentage   0.35%