XML 41 R29.htm IDEA: XBRL DOCUMENT v3.25.3
CONCENTRATION OF CREDIT RISK (Tables)
 9 Months Ended
Sep. 30, 2025
Risks and Uncertainties [Abstract]  
Schedules of Concentration of Risk, by Risk Factor
The following table summarizes certain information about our credit risk concentration for our NNN and OM&R segments:

 For the Three Months Ended September 30,For the Nine Months Ended September 30,
 2025202420252024
Contribution as a Percentage of Total Revenues:
  
Brookdale (1)
2.8 %3.1 %2.9 %3.1 %
Ardent
2.6 3.0 2.7 3.1 
Kindred
2.3 2.8 2.5 2.8 
Contribution as a Percentage of Total NOI:
Brookdale (1)
6.8 %7.3 %6.8 %7.3 %
Ardent
6.3 7.3 6.5 7.3 
Kindred
5.5 6.8 5.9 6.7 
____________________________
(1)For all periods presented, includes 121 senior housing properties in our NNN segment leased to Brookdale, including 56 properties for which the lease expires on December 31, 2025 (the “Brookdale Conversion and Sale Communities”). We plan to sell or convert to our SHOP segment all of the Brookdale Conversion and Sale Communities. In connection therewith, (i) 13 of the Brookdale Conversion and Sale Communities were converted to our SHOP segment during the quarter ended September 30, 2025, with the revenues and NOI for those properties included in the above table through the date of conversion, and (ii) 14 of the Brookdale Conversion and Sale Communities were converted to our SHOP segment on October 1, 2025.
Operating Lease, Lease Income
The following table summarizes rental income from our NNN and OM&R operating leases (dollars in thousands):

For the Three Months Ended September 30,For the Nine Months Ended September 30,
2025202420252024
Fixed income from operating leases$321,326 $315,731 $947,262 $951,279 
Variable income from operating leases64,924 60,575 189,936 172,059