Segment Reporting

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

We operate in, and report financial information for, the following two segments: Office Portfolio and senior housing operating portfolio, or SHOP. We aggregate each of these two reporting segments based on their similar operating and economic characteristics. Our Office Portfolio segment consists of medical office properties leased to medical providers and other medical related businesses, as well as life science properties 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 the operator to manage the communities for our account.

We also report “non-segment” operations, which consists of triple net leased senior living communities that are leased to operators from which we receive rents, and wellness centers, 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, 2021
	Office Portfolio		SHOP		Non-Segment		Consolidated
Revenues:
Rental income	$	93,323	$	—	$	9,435	$	102,758
Residents fees and services	—		259,966		—		259,966
Total revenues	93,323		259,966		9,435		362,724
Expenses:
Property operating expenses	31,293		256,098		—		287,391
Depreciation and amortization	31,938		31,361		2,854		66,153
General and administrative	—		—		7,542		7,542
Impairment of assets	—		(174)		—		(174)
Total expenses	63,231		287,285		10,396		360,912
Loss on sale of properties	(122)		—		—		(122)
Losses on equity securities, net	—		—		(8,339)		(8,339)
Interest and other income	—		2,433		402		2,835
Interest expense	(5,939)		(528)		(53,624)		(60,091)
Loss on early extinguishment of debt	—		—		(2,040)		(2,040)
Income (loss) from continuing operations before income tax expense	24,031		(25,414)		(64,562)		(65,945)
Income tax expense	—		—		(238)		(238)
Net income (loss)	24,031		(25,414)		(64,800)		(66,183)
Net income attributable to noncontrolling interest	(1,322)		—		—		(1,322)
Net income (loss) attributable to common shareholders	$	22,709	$	(25,414)	$	(64,800)	$	(67,505)

	As of March 31, 2021
	Office Portfolio		SHOP		Non-Segment		Consolidated
Total assets	$	3,072,160	$	2,908,334	$	1,562,212	$	7,542,706

	For the Three Months Ended March 31, 2020
	Office Portfolio		SHOP		Non-Segment		Consolidated
Revenues:
Rental income	$	98,770	$	—	$	11,728	$	110,498
Residents fees and services	—		331,969		—		331,969
Total revenues	98,770		331,969		11,728		442,467
Expenses:
Property operating expenses	32,706		283,879		—		316,585
Depreciation and amortization	32,163		33,042		3,225		68,430
General and administrative	—		—		8,832		8,832
Acquisition and certain other transaction related costs	—		—		663		663
Impairment of assets	6,218		5,016		—		11,234
Total expenses	71,087		321,937		12,720		405,744
Gain on sale of properties	2,782		—		—		2,782
Losses on equity securities, net	—		—		(9,943)		(9,943)
Interest and other income	—		—		138		138
Interest expense	(6,052)		(564)		(35,034)		(41,650)
Gain on lease termination	—		—		22,896		22,896
Loss on early extinguishment of debt	(246)		—		—		(246)
Income (loss) from continuing operations before income tax benefit	24,167		9,468		(22,935)		10,700
Income tax benefit	—		—		443		443
Net income (loss)	24,167		9,468		(22,492)		11,143
Net income attributable to noncontrolling interest	(1,408)		—		—		(1,408)
Net income (loss) attributable to common shareholders	$	22,759	$	9,468	$	(22,492)	$	9,735

	As of December 31, 2020
	Office Portfolio		SHOP		Non-Segment		Consolidated
Total assets	$	3,092,289	$	2,912,570	$	471,565	$	6,476,424