DISPOSITIONS AND IMPAIRMENTS

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

NOTE 5 – DISPOSITIONS AND IMPAIRMENTS

2023 Activity

During the year ended December 31, 2023, we sold seven senior housing communities (four of which were vacant), seven outpatient medical buildings (one of which was vacant), three research centers, nine triple-net leased properties (two of which were vacant) and two land parcel for aggregate consideration of $399.5 million and recognized a gain on the sale of these assets of $62.1 million in our Consolidated Statements of Income.

2022 Activity

During the year ended December 31, 2022, we sold seven senior housing communities, two outpatient medical buildings, three triple-net leased properties, one vacant land parcel and one vacant outpatient medical building for aggregate consideration of $115.1 million and recognized a net gain on the sale of these assets of $7.8 million in our Consolidated Statements of Income.

2021 Activity

During the year ended December 31, 2021, we sold 34 outpatient medical buildings, eight triple-net leased properties and 23 senior housing communities for aggregate consideration of $859.7 million and recognized gains on the sale of these assets of $218.8 million in our Consolidated Statements of Income.

Assets Held for Sale

The table below summarizes our real estate assets classified as held for sale including the amounts reported on our Consolidated Balance Sheets, which may include anticipated post-closing settlements of working capital for disposed properties (dollars in thousands):


	As of December 31, 2023					As of December 31, 2022
	Number of Properties Held for Sale	Assets Held for Sale		Liabilities Related to Assets Held for Sale		Number of Properties Held for Sale	Assets Held for Sale		Liabilities Related to Assets Held for Sale
SHOP	13	$	48,173	$	6,419	3	$	44,852	$	5,675
Outpatient medical and research portfolio (1)	3	5,431		2,643		—	41		817
Triple-net leased properties	1	2,885		181		—	—		—
Total	17	$	56,489	$	9,243	3	$	44,893	$	6,492

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(1)Balances as of December 31, 2022 primarily relate to sold assets that will be settled post close.

Real Estate Impairments

We recognized impairments of $226.6 million, $107.8 million and $219.4 million for the years ended December 31, 2023, 2022 and 2021, respectively, which are recorded primarily as a component of depreciation and amortization in our Consolidated Statements of Income. The impairments recorded were primarily a result of a change in our intent to hold or a change in the future cash flows of the impaired assets.