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Dispositions, Real Property Held for Sale and Impairment (Tables)
 9 Months Ended
Sep. 30, 2025
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, 2025September 30, 2024
Real estate dispositions:(1)
Seniors Housing Operating$485,489 $366,255 
Triple-net(2)
250,555 170 
Outpatient Medical
5,541 42,761 
Total dispositions
741,585 409,186 
Gain (loss) on real estate dispositions and acquisitions of controlling interests, net(3)
70,652 171,053 
Net other assets/(liabilities) disposed829 (139)
 Non-cash consideration(4)
(290,979)(434,326)
Cash proceeds from real estate dispositions$522,087 $145,774 
(1) Dispositions occurring in the nine months ended September 30, 2025 include the disposition of unconsolidated equity method investments related to our Chartwell joint ventures. See disclosure below for further information. Dispositions occurring in the nine months ended September 30, 2024 include the disposition of unconsolidated equity method investments that owned six Seniors Housing Operating properties and one Outpatient Medical property.
(2) For the nine months ended September 30, 2024, 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) For the nine months ended September 30, 2024, 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).
(4) Non-cash consideration for the nine months ended September 30, 2025 includes the value of the equity method investment attributed to the 16 sold Chartwell properties and the deferred consideration in lieu of cash consideration for the acquired assets classified as held for sale and sold contemporaneously with the related acquisition.