SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Summary information by reportable business segment

Summary information by reportable business segment is as follows (dollars in thousands):

	For the Three Months Ended March 31, 2023
	SHOP		Office Operations		Triple-Net Leased Properties		Non-Segment		Total
Revenues:
Rental income	$	—	$	203,004	$	149,739	$	—	$	352,743
Resident fees and services	704,993		—		—		—		704,993
Third party capital management revenues	—		628		—		3,549		4,177
Income from loans and investments	—		—		—		13,589		13,589
Interest and other income	—		—		—		1,743		1,743
Total revenues	$	704,993	$	203,632	$	149,739	$	18,881	$	1,077,245
Total revenues	$	704,993	$	203,632	$	149,739	$	18,881	$	1,077,245
Less:
Interest and other income	—		—		—		1,743		1,743
Property-level operating expenses	537,222		66,913		3,796		—		607,931
Third party capital management expenses	—		—		—		1,706		1,706
NOI	$	167,771	$	136,719	$	145,943	$	15,432	465,865
Interest and other income									1,743
Interest expense									(128,075)
Depreciation and amortization									(282,119)
General, administrative and professional fees									(44,798)
Transaction expenses and deal costs									(1,386)
Allowance on loans receivable and investments									8,064
Other									(7,762)
Loss from unconsolidated entities									(5,623)
Gain on real estate dispositions									10,201
Income tax benefit									2,802
Income from continuing operations									18,912
Net income									18,912
Net income attributable to noncontrolling interests									1,395
Net income attributable to common stockholders									$	17,517

	For the Three Months Ended March 31, 2022
	SHOP		Office Operations		Triple-Net Leased Properties		Non-Segment		Total
Revenues:
Rental income	$	—	$	200,540	$	151,561	$	—	$	352,101
Resident fees and services	651,121		—		—		—		651,121
Third party capital management revenues	—		617		—		3,332		3,949
Income from loans and investments	—		—		—		9,847		9,847
Interest and other income	—		—		—		536		536
Total revenues	$	651,121	$	201,157	$	151,561	$	13,715	$	1,017,554
Total revenues	$	651,121	$	201,157	$	151,561	$	13,715	$	1,017,554
Less:
Interest and other income	—		—		—		536		536
Property-level operating expenses	475,530		63,183		4,008		—		542,721
Third party capital management expenses	—		—		—		1,313		1,313
NOI	$	175,591	$	137,974	$	147,553	$	11,866	472,984
Interest and other income									536
Interest expense									(110,794)
Depreciation and amortization									(289,064)
General, administrative and professional fees									(42,998)
Transaction expenses and deal costs									(19,992)
Allowance on loans receivable and investments									54
Other									27,190
Loss from unconsolidated entities									(4,269)
Gain on real estate dispositions									2,455
Income tax benefit									4,490
Income from continuing operations									40,592
Net income									40,592
Net income attributable to noncontrolling interests									1,860
Net income attributable to common stockholders									$	38,732

Reconciliation of Assets from Segment to Consolidated

Capital expenditures, including investments in real estate property and development project expenditures, by reportable business segment are as follows (dollars in thousands):

	For the Three Months Ended March 31,
	2023		2022
Capital Expenditures:
SHOP	$	68,132	$	143,403
Office operations	40,804		274,074
Triple-net leased properties	3,720		634
Total capital expenditures	$	112,656	$	418,111

Revenues from external customers by geographic area

Geographic information regarding our operations is as follows (dollars in thousands):

	For the Three Months Ended March 31,
	2023		2022
Revenues:
United States	$	958,126	$	897,933
Canada	112,122		112,144
United Kingdom	6,997		7,477
Total revenues	$	1,077,245	$	1,017,554

	As of March 31, 2023		As of December 31, 2022
Net Real Estate Property:
United States	$	18,002,715	$	18,168,224
Canada	2,785,433		2,782,350
United Kingdom	211,161		209,876
Total net real estate property	$	20,999,309	$	21,160,450