DESCRIPTION OF BUSINESS (Tables)

6 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Reportable Business Segments And Non-Segment Assets

The following table summarizes information for our consolidated reportable business segments and non-segment assets for the six months ended June 30, 2024 (dollars in thousands):

Segment	Total NOI (1)		Percentage of Total NOI		Number of Consolidated Properties
Senior housing operating portfolio (SHOP)	$	417,724	41.0	%	582
Outpatient medical and research portfolio (OM&R)	291,842		28.7	%	428
Triple-net leased properties	302,058		29.7	%	308
Non-segment (2)	6,614		0.6	%	—
	$	1,018,238	100	%	1,318

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(1)    “NOI” is defined as total revenues, less interest and other income, property-level operating expenses and third party capital management expenses. See “Non-GAAP Financial Measures” included elsewhere in this Quarterly Report on Form 10-Q for additional disclosure and a reconciliation of net income attributable to common stockholders, as computed in accordance with GAAP, to NOI.

(2)    NOI for non-segment includes management fees and promote revenues, net of expenses related to our third-party institutional capital management business, income from loans and investments and various corporate-level expenses not directly attributable to any of our three reportable business segments.