Intangible assets primarily consist of lease-up intangibles and above market lease intangibles. The following table summarizes the Company’s intangible lease assets (dollars in thousands):


Intangible lease assets	June 30, 2025		December 31, 2024
Gross intangible lease assets(1)	$	1,394,502	$	1,468,985
Accumulated depreciation and amortization(2)	(717,401)		(651,731)
Intangible assets, net	$	677,101	$	817,254

Weighted average remaining amortization period in years	5		5

(1)At June 30, 2025 and December 31, 2024, includes $1.35 billion and $1.42 billion, respectively, of gross lease-up intangibles and at June 30, 2025 and December 31, 2024, includes $44 million and $45 million, respectively, of gross above market lease intangibles.

(2)At June 30, 2025 and December 31, 2024, includes $702 million and $640 million, respectively, of accumulated depreciation and amortization on lease-up intangibles and $15 million and $12 million, respectively, of accumulated depreciation and amortization on above market lease intangibles.

Intangible liabilities consist of below market lease intangibles. The following table summarizes the Company’s intangible lease liabilities (dollars in thousands):


Intangible lease liabilities	June 30, 2025		December 31, 2024
Gross intangible lease liabilities	$	308,535	$	351,602
Accumulated depreciation and amortization	(142,183)		(159,718)
Intangible liabilities, net	$	166,352	$	191,884

Weighted average remaining amortization period in years	9		9

During the six months ended June 30, 2025, in conjunction with the Company’s acquisition of real estate, the Company acquired $3 million of intangible assets with a weighted average amortization period at acquisition of 13 years.

On the Closing Date of the Merger, the Company acquired intangible assets of $891 million, inclusive of $852 million of lease-up intangibles and $39 million of above market lease intangibles. Also on the Closing Date of the Merger, the Company assumed intangible liabilities of $150 million (see Note 3). The intangible assets and liabilities acquired had a weighted average amortization period at acquisition of 6 years and 9 years, respectively.

In connection with the Merger, the Company recognized goodwill of $51 million, which was allocated to the Company’s outpatient medical segment (see Note 3). Goodwill is included in other assets, net on the Consolidated Balance Sheets. At June 30, 2025 and December 31, 2024, goodwill was allocated to the Company’s segment assets as follows (in thousands):


Segment	June 30, 2025		December 31, 2024
Outpatient medical	$	64,680	$	64,680
CCRC	1,998		1,998
Other non-reportable	1,851		1,851

	$	68,529	$	68,529