Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Summary of Material Commitments

The following table summarizes the Company’s material commitments, excluding obligations as the lessee under operating leases (see Note 7), commitments to fund additional loans for outpatient medical capital expenditure projects (see Note 8), debt service obligations (see Note 11), and potential future obligations related to redeemable noncontrolling interests (see Note 13) at December 31, 2024 (in thousands):

	Amount
Development and redevelopment commitments(1)	$	199,139
Lease and other contractual commitments(2)	84,654
Letters of credit(3)	11,929
	$	295,722

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(1)Represents construction and other commitments as of December 31, 2024 for developments and redevelopments in progress and includes allowances for Company-owned tenant improvements that the Company has provided as a lessor.

(2)Represents the Company’s commitments, as lessor, under signed leases and contracts for operating properties as of December 31, 2024 and includes allowances for Company-owned tenant improvements and leasing commissions. Excludes allowances for Company-owned tenant improvements related to developments and redevelopments in progress for which the Company has executed an agreement with a general contractor to complete the tenant improvements (recognized in the “Development and redevelopment commitments” line).

(3)Represents 15 outstanding letter of credit obligations expiring in 2025 and one outstanding letter of credit obligation expiring in 2026.