OTHER ASSETS (Tables)

6 Months Ended

Jun. 30, 2025

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Summary of Other Assets

The following is a summary of our Other assets (dollars in thousands):

	As of June 30, 2025		As of December 31, 2024
Straight-line rent receivables	$	219,331	$	202,675
Deferred lease costs, net	152,846		145,973
Accounts receivable, net (1)	72,400		108,138
Investment in unconsolidated operating entities	99,827		95,623
Prepaid assets	58,303		71,786
Non-mortgage loans receivable, net	20,915		28,129
Other intangibles, net	11,156		11,513
Other (2)	99,124		128,826
Total Other assets	$	733,902	$	792,663

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(1)     Allowance for doubtful accounts as of June 30, 2025 and December 31, 2024 were $70.2 million and $70.3 million, respectively.

(2)    The balance as of June 30, 2025 includes stock warrants exercisable at any time prior to September 13, 2034 for 9.9% of the common equity of a parent company of Kindred Healthcare, LLC (together with its subsidiaries, “Kindred”) at the pre-transaction value of such common equity (the “Scion Warrants”). The balance as of December 31, 2024 includes the Scion warrants as well as stock warrants exercisable at any time prior to December 31, 2025, in whole or in part, for 11.1 million shares of Brookdale Senior Living, Inc. common stock (“Brookdale Common Stock”) at an exercise price of $3.00 per share (the “Brookdale Warrants”). During the six months ended June 30, 2025, we exercised all remaining 11.1 million Brookdale Warrants on a cashless basis (net of the $3.00 exercise price), resulting in Ventas receiving 5.7 million net shares of Brookdale Common Stock, which we sold for net cash proceeds of approximately $35.6 million (recorded within operating cash flows in our Consolidated Statements of Cash Flows). The Brookdale Warrants and the Scion Warrants are measured at fair value with changes in fair value being recognized within Other expense in our Consolidated Statements of Income.