Dispositions, Real Property Held for Sale and Impairment (Tables)

9 Months Ended

Sep. 30, 2024

Discontinued Operations and Disposal Groups [Abstract]

Summary of Real Property Disposition Activity

The following is a summary of our real property disposition activity for the periods presented (in thousands):

	Nine Months Ended
	September 30, 2024		September 30, 2023
Real estate dispositions:(1)
Seniors Housing Operating	$	366,255	$	371,143
Triple-net(2)	170		6,391
Outpatient Medical	42,761		—
Total dispositions	409,186		377,534
Gain (loss) on real estate dispositions and acquisitions of controlling interests, net(3)	171,053		69,681
Net other assets/(liabilities) disposed	(139)		(1,401)
Non-cash consideration	(434,326)		(361,830)
Cash proceeds from real estate dispositions	$	145,774	$	83,984

(1) The nine months ended September 30, 2024 includes the disposition of unconsolidated equity method investments that owned six Seniors Housing Operating properties and one Outpatient Medical property.

(2) Excludes $376,695,000 of net real property derecognized related to 15 properties upon the reclassification of two leases from operating to sales-type (see Note 6 for additional details).

(3) Excludes the $179,770,000 gain recognized in conjunction with the joint venture consolidation (see Note 3 for additional details) and the $92,593,000 gain recognized as a result of the reclassification of two leases from operating to sales-type (see Note 6 for additional details).