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Dispositions of Real Estate and Discontinued Operations
 12 Months Ended
Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Dispositions of Real Estate and Discontinued Operations Dispositions of Real Estate and Discontinued Operations
2024 Dispositions of Real Estate
During the year ended December 31, 2024, the Company sold: (i) a portfolio of 59 outpatient medical buildings for $674 million and provided the buyer with a mortgage loan secured by the real estate sold for $405 million (see Note 8), (ii) 14 outpatient medical buildings for $220 million, (iii) a portfolio of seven lab buildings for $180 million, (iv) a portfolio of two outpatient medical buildings for $23 million and provided the buyer with a mortgage loan secured by the real estate sold for $14 million (see Note 8), and (v) a portfolio comprised of a land parcel and various vacant buildings on certain of the Company’s CCRC campuses for $12 million, resulting in total net gain on sales of $179 million.
2023 Dispositions of Real Estate
During the year ended December 31, 2023, the Company sold two lab buildings in Durham, North Carolina, for $113 million and two outpatient medical buildings for $32 million, resulting in total gain on sales of $81 million.
2022 Dispositions of Real Estate
During the year ended December 31, 2022, the Company sold one lab building in Salt Lake City, Utah for $14 million and five outpatient medical buildings and one outpatient medical land parcel for $36 million, resulting in total gain on sales of $15 million.
Held for Sale and Discontinued Operations
As of December 31, 2024, one outpatient medical building was classified as held for sale, with a carrying value of $8 million, primarily comprised of net real estate assets. As of December 31, 2024, liabilities related to the asset held for sale were zero. As of December 31, 2023, two lab buildings and one outpatient medical building were classified as held for sale, with a carrying value of $118 million, primarily comprised of net real estate assets. As of December 31, 2023, liabilities related to the assets held for sale were $1 million. During the three months ended March 31, 2024, the Company sold the outpatient medical building and a 65% interest in the two lab buildings (see Note 9) that were classified as held for sale as of December 31, 2023.
In 2020, the Company concluded that the dispositions of its senior housing triple-net and SHOP portfolios represented a strategic shift that had a major effect on its operations and financial results. Therefore, the results of senior housing triple-net and SHOP assets are classified as discontinued operations in all periods presented herein. The Company has successfully completed the disposition of its senior housing triple-net and SHOP properties.
At each of December 31, 2024 and 2023, the total assets and total liabilities classified as discontinued operations were zero.
The results of discontinued operations during the years ended December 31, 2024, 2023, and 2022 are presented below (in thousands) and are included in the consolidated results of operations for the years ended December 31, 2024, 2023, and 2022:
 Year Ended December 31,
 202420232022
Revenues:
Resident fees and services$— $— $7,489 
Total revenues— — 7,489 
Costs and expenses:
Operating— — 6,452 
Total costs and expenses— — 6,452 
Other income (expense):
Gain (loss) on sales of real estate, net— — 1,344 
Other income (expense), net— — 169 
Total other income (expense), net— — 1,513 
Income (loss) before income taxes and equity income (loss) from unconsolidated joint ventures— — 2,550 
Income tax benefit (expense)— — 270 
Equity income (loss) from unconsolidated joint ventures— — 64 
Income (loss) from discontinued operations$— $— $2,884