v3.25.2
Real Estate Investments - Financing Receivable (Details)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
USD ($)
Option
property
Jun. 30, 2025
USD ($)
property
item
$ / item
Jun. 30, 2024
USD ($)
property
Jun. 30, 2025
USD ($)
Jun. 30, 2025
item
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]          
Gross Investment       $ 1,329,683  
Number of properties   121     121
Financing receivables          
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]          
Gross Investment       361,438  
LTC Investment   $ 283,172      
Number of properties | property   31      
Number of Beds/Units | item   1,562      
SNF          
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]          
Gross Investment       598,800  
Number of properties   50     50
Investment per Bed/Unit | $ / item   94.31      
SNF | Florida | 7.25% (2032 Maturity Year)          
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]          
Interest rate (as a percent)   7.25%      
Gross Investment       76,559  
LTC Investment   $ 62,234      
Number of properties | property   3      
Number of Beds/Units | item   299      
Investment per Bed/Unit | $ / item   256.05      
SH          
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]          
Gross Investment       718,878  
Number of properties   70     70
Investment per Bed/Unit | $ / item   169.71      
SH | North Carolina/ South Carolina | 7.25% (2034 Maturity Year One)          
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]          
Interest rate (as a percent)   7.25%      
Gross Investment $ 122,460   $ 122,460 122,460  
LTC Investment $ 64,450 $ 64,450      
Number of properties | property 13 13 13    
Number of Beds/Units | item   523      
Investment per Bed/Unit | $ / item   234.15      
Percentage of cash return 8.00%        
Additional amount funded under mortgage loan $ 5,546        
Controlling interest obtained from JV (%) 53.00%        
Non-controlling interest owned by JV partner 47.00%        
Lease term 10 years   10 years    
Number of operating lease renewals | Option 2        
Lease renewal term 5 years   5 years    
SH | North Carolina | 7.25% (2033 Maturity Year)          
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]          
Interest rate (as a percent)   7.25%      
Gross Investment       121,419  
LTC Investment   $ 118,503      
Number of properties | property   11      
Number of Beds/Units | item   523      
Investment per Bed/Unit | $ / item   232,160      
Percentage of cash return   9.00%      
SH | North Carolina | 7.25% (2034 Maturity Year One)          
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]          
Number of properties | property 12   12    
SH | North Carolina | 7.25% (2034 Maturity Year Two)          
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]          
Interest rate (as a percent)   7.25%      
Gross Investment       $ 41,000  
LTC Investment $ 37,985 $ 37,985      
Number of properties | property 4 4 4    
Number of Beds/Units | item   217      
Investment per Bed/Unit | $ / item   188.94      
Percentage of cash return 8.00%        
Additional amount funded under mortgage loan $ 2,766        
Controlling interest obtained from JV (%) 93.00%        
Non-controlling interest owned by JV partner 7.00%        
Lease term 10 years   10 years    
Number of operating lease renewals | Option 2        
Lease renewal term 5 years   5 years    
SH | South Carolina | 7.25% (2034 Maturity Year One)          
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]          
Number of properties | property 1   1    
Affiliates of ALG          
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]          
Additional amount funded under mortgage loan     $ 5,546    
Affiliates of ALG | SH | North Carolina | 7.25% (2034 Maturity Year Two)          
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]          
Gross Investment $ 41,000   $ 41,000