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Dispositions, Real Property Held for Sale and Impairment (Tables)
 12 Months Ended
Dec. 31, 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):
 Year Ended
 December 31, 2024December 31, 2023December 31, 2022
Real estate dispositions:(1)
Seniors Housing Operating$390,226 $385,128 $85,413 
Triple-net(2)
355,580 6,391 89,827 
Outpatient Medical42,761 — 393 
Total dispositions788,567 391,519 175,633 
Gain (loss) on real estate dispositions and acquisitions of controlling interests, net(3)
176,376 67,898 16,043 
Net other assets (liabilities) disposed(194,092)(846)7,820 
Non-cash consideration(434,326)(361,830)— 
Cash proceeds from real estate dispositions$336,525 $96,741 $199,496 
(1) Dispositions occurring in the year ended December 31, 2024 include the disposition of unconsolidated equity method investments that owned six Seniors Housing Operating properties and one Outpatient Medical property. Dispositions occurring in the year ended December 31, 2023 include the disposition of unconsolidated equity method investments related to Revera. See discussion below for further information.
(2) For the year ended December 31, 2024, excludes $79,695,000 of net real property derecognized related to four properties upon the reclassification of one lease from operating to sales-type and includes $297,000,000 of net real property derecognized in the third quarter related to 11 properties upon reclassification of one lease from operating to sales-type for which the underlying properties were sold and the sales-type lease terminated in the fourth quarter. (see Note 6 for additional details).
(3) For the year ended December 31, 2024, excludes the $182,642,000 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.