Dispositions of Real Estate |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Discontinued Operations and Disposal Groups [Abstract] | |
| Dispositions of Real Estate | Dispositions of Real Estate 2025 Dispositions of Real Estate In July 2025, the Company sold two outpatient medical buildings for $27 million. During the three months ended June 30, 2025, the Company sold one outpatient medical land parcel for $4 million, resulting in gain on sale of $3 million. 2024 Dispositions of Real Estate During the three months ended March 31, 2024, the Company sold two outpatient medical buildings for $29 million, resulting in total gain on sales of $3 million. During the three months ended June 30, 2024, the Company sold a portfolio of seven lab buildings for $180 million and 11 outpatient medical buildings for $179 million, resulting in total gain on sales of $122 million. During the year ended December 31, 2024, the Company also 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 7), (ii) one outpatient medical building for $12 million, (iii) 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 7), and (iv) a portfolio comprised of a land parcel and various vacant buildings on certain of the Company’s CCRC campuses for $12 million. Held for Sale As of June 30, 2025, two outpatient medical buildings and two lab buildings were classified as held for sale, with a carrying value of $46 million, primarily comprised of net real estate assets. 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 June 30, 2025, liabilities related to the assets held for sale were $1 million, primarily comprised of deferred revenue. As of December 31, 2024, liabilities related to the assets held for sale were zero. In July 2025, the Company sold the two outpatient medical buildings classified as held for sale as of June 30, 2025 for $27 million. One of the outpatient medical buildings sold in July 2025 was also classified as held for sale as of December 31, 2024. Impairments of Real Estate During the three and six months ended June 30, 2025 and 2024, the Company did not recognize any impairment charges.
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