Intangibles (Tables)

6 Months Ended

Jun. 30, 2024

Intangibles [Abstract]

Schedule of Intangible Lease Assets

Intangible assets primarily consist of lease-up intangibles and above market lease intangibles. The following table summarizes the Company’s intangible lease assets (dollars in thousands):

Intangible lease assets	June 30, 2024		December 31, 2023
Gross intangible lease assets(1)	$	1,611,677	$	739,228
Accumulated depreciation and amortization(2)	(535,590)		(425,072)
Intangible assets, net	$	1,076,087	$	314,156
Weighted average remaining amortization period in years	5		5

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(1)As of June 30, 2024 and December 31, 2023, includes $1.56 billion and $725 million, respectively, of gross lease-up intangibles and $53 million and $14 million, respectively, of gross above market lease intangibles.

(2)As of June 30, 2024 and December 31, 2023, includes $525 million and $418 million, respectively, of accumulated depreciation and amortization on lease-up intangibles and $11 million and $7 million, respectively, of accumulated depreciation and amortization on above market lease intangibles.

Schedule of Intangible Lease Liabilities

Intangible liabilities consist of below market lease intangibles. The following table summarizes the Company’s intangible lease liabilities (dollars in thousands):

Intangible lease liabilities	June 30, 2024		December 31, 2023
Gross intangible lease liabilities	$	374,084	$	228,105
Accumulated depreciation and amortization	(146,714)		(100,725)
Intangible liabilities, net	$	227,370	$	127,380
Weighted average remaining amortization period in years	9		7

Schedule of Goodwill Segments

At June 30, 2024 and December 31, 2023, goodwill was allocated to the Company’s segment assets as follows (in thousands):

Segment	June 30, 2024		December 31, 2023
Outpatient medical	$	61,314	$	14,178
CCRC	1,998		1,998
Other non-reportable	1,851		1,851
	$	65,163	$	18,027