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SEGMENT INFORMATION - Income Statement (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Rental income $ 373,516 $ 372,787 $ 750,948 $ 747,032
Income from loans and investments 4,395 1,436 8,719 2,725
Interest and other income 5,871 4,825 8,949 11,605
Revenues 1,420,893 1,200,980 2,778,967 2,400,894
Less:        
Interest and other income 5,871 4,825 8,949 11,605
Labor 420,212 343,099 812,836 687,806
Management fees 54,421 41,951 105,032 84,017
Other segment expenses 350,636 295,101 691,285 595,825
Property-level operating expenses 825,269 680,151 1,609,153 1,367,648
Third-party capital management expenses     3,452 3,403
NOI 588,126 514,354 1,157,413 1,018,238
Interest and other income 5,871 4,825 8,949 11,605
Interest expense (150,298) (149,259) (299,654) (299,192)
Depreciation and amortization (347,719) (339,848) (669,244) (640,103)
General, administrative and professional fees (42,856) (37,727) (96,005) (86,464)
Loss on extinguishment of debt, net 0 (420) 0 (672)
Transaction, transition and restructuring costs (4,627) (2,886) (10,609) (7,563)
Recovery of allowance on loans receivable and investments, net   42   110
Shareholder relations matters 0 (37) 0 (15,751)
Other expense (5,839) (8,128) (7,251) (6,794)
Loss from unconsolidated entities (1,138) (1,652) (4,449) (10,035)
Gain on real estate dispositions 33,816 49,670 33,985 50,011
Income tax expense (3,874) (7,766) 6,683 (4,762)
Net income 71,462 21,168 119,818 8,628
Net income attributable to noncontrolling interests 3,198 1,781 4,686 3,553
Net income attributable to common stockholders 68,264 19,387 115,132 5,075
Resident fees and services        
Revenues        
Other revenues 1,032,714 817,600 2,001,618 1,630,904
Third-party capital management expenses        
Revenues        
Other revenues 4,397 4,332 8,733 8,628
Less:        
Third-party capital management expenses 1,627 1,650 3,452 3,403
Operating Segments | SHOP        
Revenues        
Rental income 0 0 308,815 0
Income from loans and investments 0 0 0 0
Interest and other income 0 0 0 0
Revenues 1,032,714 817,600 2,001,618 1,630,904
Less:        
Interest and other income 0 0 0 0
Third-party capital management expenses     0 0
NOI   214,241   417,724
Interest and other income 0 0 0 0
Operating Segments | SHOP | Resident fees and services        
Revenues        
Other revenues 1,032,714 817,600 0 1,630,904
Operating Segments | SHOP | Third-party capital management expenses        
Revenues        
Other revenues 0 0 0 0
Less:        
Third-party capital management expenses 0 0    
Operating Segments | OM&R        
Revenues        
Rental income 220,814 218,853 442,133 437,730
Income from loans and investments 0 0 0 0
Interest and other income 0 0 0 0
Revenues 221,487 219,559 443,486 439,066
Less:        
Interest and other income 0 0 0 0
Labor 0 0 0 0
Management fees 0 0 0 0
Other segment expenses 75,001 73,286 150,958 147,224
Property-level operating expenses 75,001 73,286 150,958 147,224
Third-party capital management expenses     0 0
NOI 146,486 146,273 292,528 291,842
Interest and other income 0 0 0 0
Operating Segments | OM&R | Resident fees and services        
Revenues        
Other revenues 0 0 0 0
Operating Segments | OM&R | Third-party capital management expenses        
Revenues        
Other revenues 673 706 1,353 1,336
Less:        
Third-party capital management expenses 0 0    
Operating Segments | NNN        
Revenues        
Rental income 152,702 153,934 0 309,302
Income from loans and investments 0 0 0 0
Interest and other income 0 0 0 0
Revenues 152,702 153,934 308,815 309,302
Less:        
Interest and other income 0 0 0 0
Labor 0 0 0 0
Management fees 0 0 0 0
Other segment expenses 3,966 3,506 7,493 7,244
Property-level operating expenses 3,966 3,506 7,493 7,244
Third-party capital management expenses     0 0
NOI 148,736 150,428 301,322 302,058
Interest and other income 0 0 0 0
Operating Segments | NNN | Resident fees and services        
Revenues        
Other revenues 0 0 2,001,618 0
Operating Segments | NNN | Third-party capital management expenses        
Revenues        
Other revenues 0 0 0 0
Less:        
Third-party capital management expenses 0 0    
Operating Segments | Senior Living Operations        
Less:        
Labor 420,212 343,099 812,836 687,806
Management fees 54,421 41,951 105,032 84,017
Other segment expenses 271,669 218,309 532,834 441,357
Property-level operating expenses 746,302 603,359 1,450,702 1,213,180
NOI 286,412   550,916  
Non-Segment        
Revenues        
Rental income 0 0 0 0
Income from loans and investments 4,395 1,436 8,719 2,725
Interest and other income 5,871 4,825 8,949 11,605
Revenues 13,990 9,887 25,048 21,622
Less:        
Interest and other income 5,871 4,825 8,949 11,605
Labor 0 0 0 0
Management fees 0 0 0 0
Other segment expenses 0 0 0 0
Property-level operating expenses 0 0 0 0
Third-party capital management expenses     3,452 3,403
NOI 6,492 3,412 12,647 6,614
Interest and other income 5,871 4,825 8,949 11,605
Non-Segment | Resident fees and services        
Revenues        
Other revenues 0 0 0 0
Non-Segment | Third-party capital management expenses        
Revenues        
Other revenues 3,724 3,626 $ 7,380 $ 7,292
Less:        
Third-party capital management expenses $ 1,627 $ 1,650