v3.26.1
Real Property Acquisitions and Development - Summary of Real Property Investment Activity by Segment (Details)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
USD ($)
property
Jun. 30, 2025
USD ($)
Business Combination [Line Items]    
Land and land improvements $ 643,926 $ 409,428
Buildings and improvements 5,899,483 3,071,572
Acquired lease intangibles 383,792 187,112
Construction in progress 209,446 0
Real property held for sale 452 174,639
Right of use assets, net 13,368 24,204
Total net real estate assets 7,150,467 3,866,955
Receivables and other assets 78,067 15,984
Total assets acquired 7,228,534 3,882,939
Secured debt (409,241) (441,983)
Lease liabilities (4,048) (4,731)
Accrued expenses and other liabilities (120,231) (48,844)
Total liabilities acquired (533,520) (495,558)
Noncontrolling interests (38,438) (5,620)
Non-cash acquisition related activity (336,425) (444,943)
Cash disbursed for acquisitions 6,320,151 2,936,818
Construction in progress additions 163,246 256,662
Less: Capitalized interest (17,300) (20,173)
Accruals 20,970 2,072
Cash disbursed for construction in progress 166,916 238,561
Capital improvements to existing properties 589,126 473,229
Total cash invested in real property, net of cash acquired 7,076,193 3,648,608
Cash acquired from acquisition $ 5,384 4,548,000
Number of properties, reclassified from sales-type lease to operating lease | property 2  
Seniors Housing Operating    
Business Combination [Line Items]    
Land and land improvements $ 520,452 295,923
Buildings and improvements 4,263,118 1,840,711
Acquired lease intangibles 373,216 179,372
Construction in progress 209,446 0
Real property held for sale 452 174,639
Right of use assets, net 12,146 3,032
Total net real estate assets 5,378,830 2,493,677
Receivables and other assets 78,049 15,920
Total assets acquired 5,456,879 2,509,597
Secured debt (409,241) (441,983)
Lease liabilities (2,967) (3,032)
Accrued expenses and other liabilities (116,320) (36,813)
Total liabilities acquired (528,528) (481,828)
Noncontrolling interests (38,438) (5,620)
Non-cash acquisition related activity (88,567) (184,761)
Cash disbursed for acquisitions 4,801,346 1,837,388
Construction in progress additions 167,120 208,822
Less: Capitalized interest (17,016) (17,094)
Accruals 7,500 (4,470)
Cash disbursed for construction in progress 157,604 187,258
Capital improvements to existing properties 554,829 415,638
Total cash invested in real property, net of cash acquired 5,513,779 2,440,284
Triple-net    
Business Combination [Line Items]    
Land and land improvements 123,298 94,165
Buildings and improvements 1,549,177 1,229,242
Acquired lease intangibles 0 7,084
Construction in progress 0 0
Real property held for sale 0 0
Right of use assets, net 0 18,389
Total net real estate assets 1,672,475 1,348,880
Receivables and other assets 0 5
Total assets acquired 1,672,475 1,348,885
Secured debt 0 0
Lease liabilities 0 0
Accrued expenses and other liabilities (3,471) (10,442)
Total liabilities acquired (3,471) (10,442)
Noncontrolling interests 0 0
Non-cash acquisition related activity (156,221) (240,075)
Cash disbursed for acquisitions 1,512,783 1,098,368
Construction in progress additions (6) 0
Less: Capitalized interest 0 0
Accruals 0 1,094
Cash disbursed for construction in progress (6) 1,094
Capital improvements to existing properties 21,422 19,874
Total cash invested in real property, net of cash acquired 1,534,199 1,119,336
Outpatient Medical    
Business Combination [Line Items]    
Land and land improvements 176 19,340
Buildings and improvements 87,188 1,619
Acquired lease intangibles 10,576 656
Construction in progress 0 0
Real property held for sale 0 0
Right of use assets, net 1,222 2,783
Total net real estate assets 99,162 24,398
Receivables and other assets 18 59
Total assets acquired 99,180 24,457
Secured debt 0 0
Lease liabilities (1,081) (1,699)
Accrued expenses and other liabilities (440) (1,589)
Total liabilities acquired (1,521) (3,288)
Noncontrolling interests 0 0
Non-cash acquisition related activity (91,637) (20,107)
Cash disbursed for acquisitions 6,022 1,062
Construction in progress additions (3,868) 47,840
Less: Capitalized interest (284) (3,079)
Accruals 13,470 5,448
Cash disbursed for construction in progress 9,318 50,209
Capital improvements to existing properties 12,875 37,717
Total cash invested in real property, net of cash acquired $ 28,215 $ 88,988