Segment Reporting

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

We operate in, and report financial information for, the following two segments: Office Portfolio and 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 managers to operate the communities.

We also report “non-segment” operations, consisting of triple net leased senior living communities and wellness centers that are leased to third party operators from which we receive rents, 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 Year Ended December 31, 2022
	Office Portfolio		SHOP		Non-Segment		Consolidated
Revenues:
Rental income	$	222,390	$	—	$	38,350	$	260,740
Residents fees and services	—		1,022,826		—		1,022,826
Total revenues	222,390		1,022,826		38,350		1,283,566
Expenses:
Property operating expenses	94,299		1,014,100		671		1,109,070
Depreciation and amortization	76,007		151,930		11,343		239,280
General and administrative	—		—		26,435		26,435
Acquisition and certain other transaction related costs	—		—		2,605		2,605
Total expenses	170,306		1,166,030		41,054		1,377,390
Gain on sale of properties	321,040		822		—		321,862
Losses on equity securities, net	—		—		(25,660)		(25,660)
Interest and other income	—		4,327		11,602		15,929
Interest expense	(913)		(1,534)		(206,936)		(209,383)
Gain (loss) on modification or early extinguishment of debt	16		—		(30,059)		(30,043)
Income (loss) from continuing operations before income tax expense and equity in net earnings of investees	372,227		(139,589)		(253,757)		(21,119)
Income tax expense	—		—		(710)		(710)
Equity in net earnings of investees	6,055		—		—		6,055
Net income (loss)	$	378,282	$	(139,589)	$	(254,467)	$	(15,774)
	As of December 31, 2022
	Office Portfolio		SHOP		Non-Segment		Consolidated
Total assets	$	1,967,244	$	3,147,785	$	887,064	$	6,002,093

	For the Year Ended December 31, 2021
	Office Portfolio		SHOP		Non-Segment		Consolidated
Revenues:
Rental income	$	367,597	$	—	$	40,992	$	408,589
Residents fees and services	—		974,623		—		974,623
Total revenues	367,597		974,623		40,992		1,383,212
Expenses:
Property operating expenses	127,313		964,499		—		1,091,812
Depreciation and amortization	127,632		132,044		11,455		271,131
General and administrative	—		—		34,087		34,087
Acquisition and certain other transaction related costs	—		—		17,506		17,506
Impairment of assets	—		(174)		—		(174)
Total expenses	254,945		1,096,369		63,048		1,414,362
Gain on sale of properties	492,072		200		—		492,272
Losses on equity securities, net	—		—		(42,232)		(42,232)
Interest and other income	—		19,554		1,081		20,635
Interest expense	(23,477)		(2,089)		(230,193)		(255,759)
Loss on modification or early extinguishment of debt	—		—		(2,410)		(2,410)
Income (loss) from continuing operations before income tax expense	581,247		(104,081)		(295,810)		181,356
Income tax expense	—		—		(1,430)		(1,430)
Net income (loss)	581,247		(104,081)		(297,240)		179,926
Net income attributable to noncontrolling interest	(5,411)		—		—		(5,411)
Net income (loss) attributable to common shareholders	$	575,836	$	(104,081)	$	(297,240)	$	174,515
	As of December 31, 2021
	Office Portfolio		SHOP		Non-Segment		Consolidated
Total assets	$	2,282,652	$	2,995,819	$	1,345,043	$	6,623,514

	For the Year Ended December 31, 2020
	Office Portfolio		SHOP		Non-Segment		Consolidated
Revenues:
Rental income	$	383,365	$	—	$	43,850	$	427,215
Residents fees and services	—		1,204,811		—		1,204,811
Total revenues	383,365		1,204,811		43,850		1,632,026
Expenses:
Property operating expenses	129,756		1,106,601		—		1,236,357
Depreciation and amortization	129,321		129,124		11,702		270,147
General and administrative	—		—		30,593		30,593
Acquisition and certain other transaction related costs	—		—		814		814
Impairment of assets	8,558		98,414		—		106,972
Total expenses	267,635		1,334,139		43,109		1,644,883
Gain (loss) on sale of properties	2,597		(627)		4,517		6,487
Gains on equity securities, net	—		—		34,106		34,106
Interest and other income	—		17,485		736		18,221
Interest expense	(24,188)		(2,223)		(175,072)		(201,483)
Gain on lease termination	—		—		22,896		22,896
Loss on modification or early extinguishment of debt	(401)		—		(26)		(427)
Income (loss) from continuing operations before income tax expense	93,738		(114,693)		(112,102)		(133,057)
Income tax expense	—		—		(1,250)		(1,250)
Net income (loss)	93,738		(114,693)		(113,352)		(134,307)
Net income attributable to noncontrolling interest	(5,146)		—		—		(5,146)
Net income (loss) attributable to common shareholders	$	88,592	$	(114,693)	$	(113,352)	$	(139,453)
	As of December 31, 2020
	Office Portfolio		SHOP		Non-Segment		Consolidated
Total assets	$	3,092,289	$	2,912,570	$	471,565	$	6,476,424