SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2024

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, 2024
	SHOP		Outpatient Medical and Research Portfolio		Triple-Net Leased Properties		Non-Segment		Total
Revenues
Rental income	$	—	$	218,877	$	155,368	$	—	$	374,245
Resident fees and services	813,304		—		—		—		813,304
Third party capital management revenues	—		631		—		3,665		4,296
Income from loans and investments	—		—		—		1,289		1,289
Interest and other income	—		—		—		6,780		6,780
Total revenues	$	813,304	$	219,508	$	155,368	$	11,734	$	1,199,914
Total revenues	$	813,304	$	219,508	$	155,368	$	11,734	$	1,199,914
Less:
Interest and other income	—		—		—		6,780		6,780
Property-level operating expenses	609,821		73,938		3,738		—		687,497
Third party capital management expenses	—		—		—		1,753		1,753
NOI	$	203,483	$	145,570	$	151,630	$	3,201	503,884
Interest and other income									6,780
Interest expense									(149,933)
Depreciation and amortization									(300,255)
General, administrative and professional fees									(48,737)
Loss on extinguishment of debt, net									(252)
Transaction, transition and restructuring costs									(4,677)
Allowance on loans receivable and investments									68
Shareholder relations matters									(15,714)
Other income									1,334
Loss from unconsolidated entities									(8,383)
Gain on real estate dispositions									341
Income tax benefit									3,004
Loss from continuing operations									(12,540)
Net loss									(12,540)
Net income attributable to noncontrolling interests									1,772
Net loss attributable to common stockholders									$	(14,312)

	For the Three Months Ended March 31, 2023
	SHOP		Outpatient Medical and Research Portfolio		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, transition and restructuring costs									(1,386)
Allowance on loans receivable and investments									8,064
Other expense									(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

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,
	2024		2023
Capital Expenditures:
SHOP	$	106,540	$	68,132
Outpatient medical and research portfolio	62,770		40,804
Triple-net leased properties	906		3,720
Total capital expenditures	$	170,216	$	112,656

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,
	2024		2023
Revenues:
United States	$	1,063,384	$	958,126
Canada	128,959		112,122
United Kingdom	7,571		6,997
Total revenues	$	1,199,914	$	1,077,245

	As of March 31, 2024		As of December 31, 2023
Net Real Estate Property:
United States	$	18,425,569	$	18,702,960
Canada	2,921,702		2,837,858
United Kingdom	203,535		208,132
Total net real estate property	$	21,550,806	$	21,748,950