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INVESTMENT IN REAL ESTATE PROPERTIES (Tables)
 3 Months Ended
Mar. 31, 2023
Real Estate [Abstract]  
Schedule of Real Estate Properties Held for Investment
The Company’s real estate properties held for investment consisted of the following (dollars in thousands):
As of March 31, 2023
Property TypeNumber of
Properties		Number of
Beds/Units		Total
Real Estate
at Cost		Accumulated
Depreciation		Total
Real Estate
Investments, Net
Skilled Nursing/Transitional Care258 28,334 $3,212,202 $(518,215)$2,693,987 
Senior Housing - Leased47 3,600 592,119 (101,303)490,816 
Senior Housing - Managed59 5,973 1,245,066 (227,844)1,017,222 
Behavioral Health17 965 474,079 (61,487)412,592 
Specialty Hospitals and Other15 392 225,443 (43,392)182,051 
396 39,264 5,748,909 (952,241)4,796,668 
Corporate Level923 (550)373 
$5,749,832 $(952,791)$4,797,041 
As of December 31, 2022
Property TypeNumber of
Properties		Number of
Beds/Units		Total
Real Estate
at Cost		Accumulated
Depreciation		Total
Real Estate
Investments, Net
Skilled Nursing/Transitional Care264 29,136 $3,385,221 $(492,495)$2,892,726 
Senior Housing - Leased47 3,550 590,694 (97,716)492,978 
Senior Housing - Managed59 5,942 1,205,283 (222,089)983,194 
Behavioral Health17 965 465,143 (58,481)406,662 
Specialty Hospitals and Other15 392 225,443 (42,038)183,405 
402 39,985 5,871,784 (912,819)4,958,965 
Corporate Level904 (526)378 
$5,872,688 $(913,345)$4,959,343 
March 31, 2023December 31, 2022
Building and improvements$4,945,404 $5,034,470 
Furniture and equipment236,032 262,644 
Land improvements9,499 7,085 
Land558,897 568,489 
Total real estate at cost5,749,832 5,872,688 
Accumulated depreciation(952,791)(913,345)
Total real estate investments, net$4,797,041 $4,959,343 
Schedule of Future Minimum Rental Payments from Non-Cancelable Operating Leases
As of March 31, 2023, the future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases were as follows and may materially differ from actual future rental payments received (in thousands):
April 1 through December 31, 2023$279,989 
2024380,057 
2025375,286 
2026360,133 
2027337,235 
Thereafter1,535,962 
$3,268,662 
Schedule of Investment in Joint Ventures
The following is a summary of the Company’s investment in unconsolidated joint ventures (dollars in thousands):
Property Type
Number of
Properties as of
March 31, 2023
Ownership as of
March 31, 2023 (1)
Book Value
March 31, 2023December 31, 2022
Sienna Joint VentureSenior Housing - Managed12 50 %$119,824 $120,269 
Marlin Spring Joint VentureSenior Housing - Managed4 85 %19,578 14,693 
$139,402 $134,962 
(1)    These investments are not consolidated because the Company does not control, through voting rights or other means, the joint ventures.