v3.26.1
Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2026
Intangible Assets  
Summary of the carrying amount of intangible assets

March 31, 2026

December 31, 2025

Accumulated

Accumulated

Assets

Cost

Amortization

Net

Cost

Amortization

Net

In-place leases

$

28,602

(1)

$

(8,849)

(2)

$

19,753

$

24,098

(1)

$

(7,772)

(2)

$

16,326

Tax abatement intangible

$

8,309

(3)

$

(1,962)

(3)

$

6,347

$

8,309

(3)

$

(1,789)

(3)

$

6,520

(1)Included in the Buildings and improvements line item in our Consolidated Balance Sheets. Increase relates to acquisition of a portfolio of three seniors housing communities during 2026 within our SHOP segment. See Note 3. Owned Real Properties for more information regarding our SHOP segment acquisitions.

(2)Included in the Accumulated depreciation and amortization line item in our Consolidated Balance Sheets.

(3)Included in the Prepaid expenses and other assets line item in our Consolidated Balance Sheets.
Schedule of future amortization expenses related to the intangible assets

The following table provides future amortization expenses related to the intangible assets at March 31, 2026 (in thousands):

April-December

  ​ ​ ​

Total

  ​ ​ ​

2026

2027

  ​ ​ ​

2028

  ​ ​ ​

2029

  ​ ​ ​

2030

  ​ ​ ​

2031

  ​ ​ ​

Thereafter

In-place leases (1)

$

19,753

$

3,198

$

4,152

$

3,819

$

3,487

$

2,944

$

921

$

1,232

Tax abatement intangible (2)

 

6,347

519

 

692

 

692

 

692

 

692

 

692

 

2,368

$

26,100

$

3,717

$

4,844

$

4,511

$

4,179

$

3,636

$

1,613

$

3,600

(1)Recorded as amortization expense included in the Depreciation and amortization line item on our Consolidated Statements of Income.

(2)Recorded as Triple-net lease property tax expense on our Consolidated Statements of Income.