INVESTMENT IN REAL ESTATE PROPERTIES (Tables)

9 Months Ended

Sep. 30, 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 September 30, 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	233	26,330	$	2,992,712	$	(586,817)	$	2,405,895
Senior Housing - Leased	39	3,319	512,037		(102,191)		409,846
Senior Housing - Managed	68	6,588	1,487,337		(307,545)		1,179,792
Behavioral Health	18	1,164	479,189		(76,518)		402,671
Specialty Hospitals and Other	15	392	225,498		(51,517)		173,981
	373	37,793	5,696,773		(1,124,588)		4,572,185
Corporate Level			2,965		(882)		2,083
			$	5,699,738	$	(1,125,470)	$	4,574,268

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

	September 30, 2024		December 31, 2023
Building and improvements	$	4,897,747	$	4,843,258
Furniture and equipment	243,226		238,185
Land improvements	10,919		10,306
Land	547,846		546,598
Total real estate at cost	5,699,738		5,638,347
Accumulated depreciation	(1,125,470)		(1,021,086)
Total real estate investments, net	$	4,574,268	$	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 September 30, 2024	Ownership as of September 30, 2024 (1)		Book Value
					September 30, 2024		December 31, 2023
Sienna Joint Venture	Senior Housing - Managed	12	50	%	$	115,299	$	119,724
Marlin Spring Joint Venture	Senior Housing - Managed	4	85	%	15,512		17,119
					$	130,811	$	136,843

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