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SEGMENT INFORMATION (Tables)
6 Months Ended
Jun. 30, 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 June 30, 2023
SHOPOutpatient Medical and Research PortfolioTriple-Net
Leased
Properties
Non-SegmentTotal
Revenues:     
Rental income$— $215,807 $154,355 $— $370,162 
Resident fees and services724,614 — — — 724,614 
Third party capital management revenues— 559 — 3,437 3,996 
Income from loans and investments— — — 6,554 6,554 
Interest and other income— — — 1,032 1,032 
Total revenues$724,614 $216,366 $154,355 $11,023 $1,106,358 
Total revenues$724,614 $216,366 $154,355 $11,023 $1,106,358 
Less:     
Interest and other income— — — 1,032 1,032 
Property-level operating expenses547,110 72,171 3,537 — 622,818 
Third party capital management expenses— — — 1,4361,436 
NOI$177,504 $144,195 $150,818 $8,555 481,072 
Interest and other income    1,032 
Interest expense    (143,265)
Depreciation and amortization    (304,689)
General, administrative and professional fees    (34,399)
Gain on extinguishment of debt, net6,801 
Transaction expenses and deal costs    (3,069)
Allowance on loans receivable and investments12,065 
Gain on foreclosure of real estate29,127 
Other    17,959 
Income from unconsolidated entities31,254 
Gain on real estate dispositions1,405 
Income tax benefit    9,773 
Income from continuing operations    105,066 
Net income105,066 
Net income attributable to noncontrolling interests1,613 
Net income attributable to common stockholders$103,453 
For the Three Months Ended June 30, 2022
SHOPOutpatient Medical and Research PortfolioTriple-Net
Leased
Properties
Non-SegmentTotal
Revenues:     
Rental income$— $199,241 $149,397 $— $348,638 
Resident fees and services658,056 — — — 658,056 
Third party capital management revenues— 670 — 3,656 4,326 
Income from loans and investments— — — 10,752 10,752 
Interest and other income— — — 1,166 1,166 
Total revenues$658,056 $199,911 $149,397 $15,574 $1,022,938 
Total revenues$658,056 $199,911 $149,397 $15,574 $1,022,938 
Less:     
Interest and other income— — — 1,166 1,166 
Property-level operating expenses507,446 63,328 3,585 — 574,359 
Third party capital management expenses— — — 1,410 1,410 
NOI$150,610 $136,583 $145,812 $12,998 446,003 
Interest and other income    1,166 
Interest expense    (113,951)
Depreciation and amortization    (283,075)
General, administrative and professional fees    (32,915)
Loss on extinguishment of debt, net(7)
Transaction expenses and deal costs    (13,078)
Allowance on loans receivable and investments62 
Other    (48,116)
Loss from unconsolidated entities(1,047)
Loss on real estate dispositions(34)
Income tax benefit    3,790 
Loss from continuing operations    (41,202)
Net loss(41,202)
Net income attributable to noncontrolling interests1,214 
Net loss attributable to common stockholders$(42,416)
For the Six Months Ended June 30, 2023
SHOPOutpatient Medical and Research PortfolioTriple-Net
Leased
Properties
Non-SegmentTotal
Revenues:     
Rental income$— $418,811 $304,094 $— $722,905 
Resident fees and services1,429,607 — — — 1,429,607 
Third party capital management revenues— 1,187 — 6,986 8,173 
Income from loans and investments— — — 20,143 20,143 
Interest and other income— — — 2,775 2,775 
Total revenues$1,429,607 $419,998 $304,094 $29,904 $2,183,603 
Total revenues$1,429,607 $419,998 $304,094 $29,904 $2,183,603 
Less:     
Interest and other income— — — 2,775 2,775 
Property-level operating expenses1,084,332 139,084 7,333 — 1,230,749 
Third party capital management expenses— — — 3,142 3,142 
NOI$345,275 $280,914 $296,761 $23,987 946,937 
Interest and other income    2,775 
Interest expense    (271,340)
Depreciation and amortization    (586,808)
General, administrative and professional fees    (79,197)
Gain on extinguishment of debt, net6,801 
Transaction expenses and deal costs    (4,455)
Allowance on loans receivable and investments20,129 
Gain on foreclosure of real estate29,127 
Other    10,197 
Income from unconsolidated entities25,631 
Gain on real estate dispositions11,606 
Income tax benefit    12,575 
Income from continuing operations123,978 
Net income123,978 
Net income attributable to noncontrolling interests3,008 
Net income attributable to common stockholders    $120,970 
For the Six Months Ended June 30, 2022
SHOPOutpatient Medical and Research PortfolioTriple-Net
Leased
Properties
Non-SegmentTotal
Revenues:     
Rental income$— $399,781 $300,958 $— $700,739 
Resident fees and services1,309,177 — — — 1,309,177 
Third party capital management revenues— 1,287 — 6,988 8,275 
Income from loans and investments— — — 20,599 20,599 
Interest and other income— — — 1,702 1,702 
Total revenues$1,309,177 $401,068 $300,958 $29,289 $2,040,492 
Total revenues$1,309,177 $401,068 $300,958 $29,289 $2,040,492 
Less:     
Interest and other income— — — 1,702 1,702 
Property-level operating expenses982,976 126,511 7,593 — 1,117,080 
Third party capital management expenses— — 2,723 2,723 
NOI$326,201 $274,557 $293,365 $24,864 918,987 
Interest and other income    1,702 
Interest expense    (224,745)
Depreciation and amortization    (572,139)
General, administrative and professional fees    (75,913)
Loss on extinguishment of debt, net(7)
Transaction expenses and deal costs    (33,070)
Allowance on loans receivable and investments116 
Other    (20,926)
Loss from unconsolidated entities(5,316)
Gain on real estate dispositions2,421 
Income tax benefit    8,280 
Loss from continuing operations    (610)
Net loss(610)
Net income attributable to noncontrolling interests3,074 
Net loss attributable to common stockholders$(3,684)
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 June 30,For the Six Months Ended June 30,
2023202220232022
Capital Expenditures:
SHOP$87,548 $55,540 $155,680 $198,943 
Outpatient medical and research portfolio39,814 85,752 80,618 359,826 
Triple-net leased properties2,039 1,774 5,759 2,408 
Total capital expenditures$129,401 $143,066 $242,057 $561,177 
Revenues from external customers by geographic area Geographic information regarding our operations is as follows (dollars in thousands):
 For the Three Months Ended June 30,For the Six Months Ended June 30,
2023202220232022
Revenues:
United States$983,749 $903,057 $1,941,875 $1,800,990 
Canada115,324 112,809 227,446 224,953 
United Kingdom7,285 7,072 14,282 14,549 
Total revenues$1,106,358 $1,022,938 $2,183,603 $2,040,492 

As of June 30, 2023As of December 31, 2022
Net Real Estate Property:
United States$19,423,245 $18,168,224 
Canada2,845,233 2,782,350 
United Kingdom214,631 209,876 
Total net real estate property$22,483,109 $21,160,450