v3.26.1
Segment Reporting - Summary Information for Reportable Segments (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting [Line Items]        
Resident fees and services $ 2,984,891 $ 1,971,044 $ 5,765,822 $ 3,835,574
Rental income   459,740 483,040 913,582 944,607
Interest income 77,369 62,057 148,298 124,547
Other income 22,586 32,103 68,810 66,603
Total revenues 3,544,586 2,548,244 6,896,512 4,971,331
Property operating expenses 2,150,123 1,514,711 4,205,543 2,977,101
Consolidated net operating income (loss) 1,394,463 1,033,533 2,690,969 1,994,230
Depreciation and amortization 737,764 495,036 1,360,516 980,905
Interest expense 181,914 141,157 374,629 286,119
General and administrative expenses 67,486 64,175 134,960 127,933
Loss (gain) on derivatives and financial instruments, net 0 (409) 0 (3,619)
Loss (gain) on extinguishment of debt, net 1,984 0 2,711 6,156
Provision for loan losses, net 2,183 (1,113) 3,815 (3,120)
Impairment of assets   25,774 19,876 30,600 72,278
Other expenses 56,930 16,598 118,067 30,658
Income (loss) from continuing operations before income taxes and other items 320,428 298,213 665,671 496,920
Income tax (expense) benefit 61,979 (1,053) 50,346 4,466
Income (loss) from unconsolidated entities (17,969) (7,392) (19,655) (6,129)
Gain (loss) on real estate dispositions and acquisitions of controlling interests, net 98,537 14,850 518,937 66,627
Income (loss) from continuing operations 462,975 304,618 1,215,299 561,884
Net income (loss) 462,975 304,618 1,215,299 561,884
Seniors Housing Operating        
Segment Reporting [Line Items]        
Rental income       472,321 381,566
Operating Segments | Seniors Housing Operating        
Segment Reporting [Line Items]        
Resident fees and services 2,984,891 1,971,044 5,765,822 3,835,574
Rental income   0 0 0 0
Interest income 0 0 0 0
Other income 10,445 4,688 19,888 8,029
Total revenues 2,995,336 1,975,732 5,785,710 3,843,603
Property operating expenses 2,128,109 1,438,277 4,143,470 2,822,961
Consolidated net operating income (loss) 867,227 537,455 1,642,240 1,020,642
Operating Segments | Triple-net        
Segment Reporting [Line Items]        
Resident fees and services 0 0 0 0
Rental income   414,789 273,394 798,592 526,082
Interest income 0 0 8,077 2,111
Other income 52 360 284 591
Total revenues 414,841 273,754 806,953 528,784
Property operating expenses 7,343 8,652 15,149 17,470
Consolidated net operating income (loss) 407,498 265,102 791,804 511,314
Operating Segments | Outpatient Medical        
Segment Reporting [Line Items]        
Resident fees and services 0 0 0 0
Rental income   44,951 209,646 114,990 418,525
Interest income 0 0 0 0
Other income 817 2,165 1,910 4,302
Total revenues 45,768 211,811 116,900 422,827
Property operating expenses 7,734 62,834 25,567 127,440
Consolidated net operating income (loss) 38,034 148,977 91,333 295,387
Non-segment/Corporate        
Segment Reporting [Line Items]        
Resident fees and services 0 0 0 0
Rental income   0 0 0 0
Interest income 77,369 62,057 140,221 122,436
Other income 11,272 24,890 46,728 53,681
Total revenues 88,641 86,947 186,949 176,117
Property operating expenses 6,937 4,948 21,357 9,230
Consolidated net operating income (loss) $ 81,704 $ 81,999 $ 165,592 $ 166,887