v3.26.1
COMBINED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Revenues:        
Total revenues $ 200,345 $ 148,927 $ 603,989 $ 568,475
Costs and expenses:        
Operating 144,598 110,638 448,923 430,443
Depreciation and amortization of real estate and in-place resident contract intangibles 51,398 32,799 126,356 137,186
General and administrative     10,549 11,921
Interest expense 351 948 3,797 3,942
Transaction costs 18,510 0 1,607  
Total costs and expenses     591,232 583,492
Other income (expense):        
Gain (loss) on sales of real estate, net       (16,413)
Other income (expense), net 816 (2,380) 863 (32,417)
Total other income (expense), net 46,683 (2,380) 863 (48,830)
Income (loss) before income taxes and equity income (loss) from unconsolidated joint venture 28,885 (970) 13,620 (63,847)
Income tax benefit (expense) (1,122) (2,591) (11,339) 11,490
Equity income (loss) from unconsolidated joint venture 111 1,451 4,068 1,894
Net income (loss)     6,349 (50,463)
Resident fees and services        
Revenues:        
Total revenues $ 200,345 $ 148,927 $ 603,989 $ 568,475