| Schedule of segment information |
Summary information by reportable segment for the three and six months ended June 30, 2025 is as follows (unaudited, in thousands): | | | | | | | | | | | | | | | Three Months Ended June 30, 2025 | | | Real estate | | | | | Non-segment | | | | | | investment portfolio | | SHOP | | /corporate | | Total | Revenues: | | | | | | | | | | | | | Rental income | | $ | 30,177 | | $ | — | | $ | — | | $ | 30,177 | Resident fees and services | | | — | | | 11,950 | | | — | | | 11,950 | Interest income from financing receivables | | | 7,084 | | | — | | | — | | | 7,084 | Interest income from mortgage loans | | | 9,680 | | | — | | | — | | | 9,680 | Interest and other income | | | 1,224 | | | — | | | 125 | | | 1,349 | Total revenues | | | 48,165 | | | 11,950 | | | 125 | | | 60,240 | | | | | | | | | | | | | | Income from unconsolidated joint ventures | | | 439 | | | — | | | — | | | 439 | Property level expenses | | | (2,795) | | | (9,419) | | | — | | | (12,214) | NOI | | | 45,809 | | | 2,531 | | | 125 | | | 48,465 | Interest expense | | | | | | | | | | | | (8,014) | Depreciation and amortization | | | | | | | | | | | | (8,776) | Provision for credit losses | | | | | | | | | | | | (387) | Transaction costs | | | | | | | | | | | | (6,706) | General and administrative expenses | | | | | | | | | | | | (8,447) | Gain on sale of real estate, net | | | | | | | | | | | | 332 | Income tax benefit | | | | | | | | | | | | 81 | Net income | | | | | | | | | | | $ | 16,548 |
| | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | | | Real estate | | | | Non-segment | | | | | | investment portfolio | | SHOP | | /Corporate | | Total | Revenues: | | | | | | | | | | | | | Rental income | | $ | 61,621 | | $ | — | | $ | — | | $ | 61,621 | Resident fees and services | | | — | | | 11,950 | | | — | | | 11,950 | Interest income from financing receivables | | | 14,086 | | | — | | | — | | | 14,086 | Interest income from mortgage loans | | | 18,859 | | | — | | | — | | | 18,859 | Interest and other income | | | 2,451 | | | — | | | 304 | | | 2,755 | Total revenues | | | 97,017 | | | 11,950 | | | 304 | | | 109,271 | | | | | | | | | | | | | | Income from unconsolidated joint ventures | | | 4,104 | | | — | | | — | | | 4,104 | Property level expenses | | | (5,902) | | | (9,419) | | | — | | | (15,321) | NOI | | | 95,219 | | | 2,531 | | | 304 | | | 98,054 | Interest expense | | | | | | | | | | | | (15,927) | Depreciation and amortization | | | | | | | | | | | | (17,938) | Provision for credit losses | | | | | | | | | | | | (3,439) | Transaction costs | | | | | | | | | | | | (7,147) | General and administrative expenses | | | | | | | | | | | | (15,418) | Gain on sale of real estate, net | | | | | | | | | | | | 503 | Income tax benefit | | | | | | | | | | | | 81 | Net income | | | | | | | | | | | $ | 38,769 |
Summary information by reportable segment for the three and six months ended June 30, 2024 is as follows (unaudited, in thousands): | | | | | | | | | Three Months Ended | | Six Months Ended | | Three and Six Months Ended June 30, 2024 | | June 30, 2024 | Revenues: | | | | | | | Rental income | | $ | 31,657 | | $ | 65,206 | Interest income from financing receivables | | | 3,830 | | | 7,660 | Interest income from mortgage loans | | | 12,661 | | | 25,109 | Interest and other income | | | 1,968 | | | 3,507 | Total revenues | | | 50,116 | | | 101,482 | Expenses: | | | | | | | Interest expense | | | 10,903 | | | 21,948 | Depreciation and amortization | | | 9,024 | | | 18,119 | Provision for credit losses | | | 703 | | | 727 | Transaction costs | | | 380 | | | 646 | Property tax expense | | | 3,247 | | | 6,630 | General and administrative expenses | | | 6,760 | | | 13,251 | Total expenses | | | 31,017 | | | 61,321 | | | | | | | | Income before unconsolidated joint ventures, real estate dispositions and other items | | | 19,099 | | | 40,161 | | | | | | | | (Loss) gain on sale of real estate, net | | | (32) | | | 3,219 | Income from unconsolidated joint ventures | | | 671 | | | 1,047 | Net income | | $ | 19,738 | | $ | 44,427 |
|