INVESTMENT IN REAL ESTATE PROPERTIES (Tables)

3 Months Ended

Mar. 31, 2024

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, 2024

Property Type	Number of Properties	Number of Beds/Units	Total Real Estate at Cost		Accumulated Depreciation		Total Real Estate Investments, Net
Skilled Nursing/Transitional Care	237	26,667	$	3,043,320	$	(555,220)	$	2,488,100
Senior Housing - Leased	38	3,191	475,831		(94,895)		380,936
Senior Housing - Managed	66	6,341	1,392,189		(284,444)		1,107,745
Behavioral Health	18	1,159	496,934		(75,334)		421,600
Specialty Hospitals and Other	15	392	225,498		(48,808)		176,690
	374	37,750	5,633,772		(1,058,701)		4,575,071
Corporate Level			2,951		(704)		2,247
			$	5,636,723	$	(1,059,405)	$	4,577,318

As of December 31, 2023

Property Type	Number of Properties	Number of Beds/Units	Total Real Estate at Cost		Accumulated Depreciation		Total Real Estate Investments, Net
Skilled Nursing/Transitional Care	241	26,769	$	3,050,861	$	(535,653)	$	2,515,208
Senior Housing - Leased	43	3,473	573,274		(109,601)		463,673
Senior Housing - Managed	61	6,041	1,289,485		(255,803)		1,033,682
Behavioral Health	18	1,159	496,737		(71,943)		424,794
Specialty Hospitals and Other	15	392	225,443		(47,454)		177,989
	378	37,834	5,635,800		(1,020,454)		4,615,346
Corporate Level			2,547		(632)		1,915
			$	5,638,347	$	(1,021,086)	$	4,617,261

	March 31, 2024		December 31, 2023
Building and improvements	$	4,843,475	$	4,843,258
Furniture and equipment	239,086		238,185
Land improvements	10,253		10,306
Land	543,909		546,598
Total real estate at cost	5,636,723		5,638,347
Accumulated depreciation	(1,059,405)		(1,021,086)
Total real estate investments, net	$	4,577,318	$	4,617,261

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, 2024	Ownership as of March 31, 2024 (1)		Book Value
					March 31, 2024		December 31, 2023
Sienna Joint Venture	Senior Housing - Managed	12	50	%	$	115,921	$	119,724
Marlin Spring Joint Venture	Senior Housing - Managed	4	85	%	16,101		17,119
					$	132,022	$	136,843

(1)    These investments are not consolidated because the Company does not control, through voting rights or other means, the joint ventures.