v3.26.1
SEGMENTS - Reportable segments (Details)
 3 Months Ended 6 Months Ended
Dec. 31, 2025
USD ($)
Jun. 30, 2026
USD ($)
Mar. 31, 2026
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
SEGMENTS            
Number of operating segments   2 1      
Number of reportable segment 1 2 1      
Revenue            
Rental income   $ 266,486,000   $ 239,202,000 $ 537,103,000 $ 471,380,000
Interest income   46,756,000   42,997,000 91,911,000 86,113,000
Resident fees and services   13,987,000     20,644,000  
Miscellaneous income   1,017,000   307,000 1,543,000 1,798,000
Total revenues   328,246,000   282,506,000 651,201,000 559,291,000
Property-level expenses   (16,197,000)   (3,771,000) (25,640,000) (7,597,000)
Net operating income from unconsolidated entities   18,865,000   2,504,000 37,814,000 4,915,000
Net operating income   330,914,000   281,239,000 663,375,000 556,609,000
Depreciation and amortization   (81,842,000)   (80,509,000) (165,982,000) (160,384,000)
Interest expense   (48,116,000)   (52,897,000) (97,871,000) (105,177,000)
General and administrative   (41,997,000)   (23,318,000) (67,584,000) (54,860,000)
Acquisition, merger and transition related costs   (4,660,000)   (2,010,000) (5,774,000) (3,474,000)
Impairment on real estate properties       (14,215,000) (392,000) (15,450,000)
Recovery (provision) for credit losses   5,019,000   4,771,000 8,313,000 (321,000)
Other (expense) income - net   (7,215,000)   13,751,000 (6,139,000) 16,798,000
Gain on assets sold - net   246,519,000   22,886,000 249,543,000 32,961,000
Income tax expense   (4,618,000)   (4,528,000) (9,724,000) (8,139,000)
Non-operating net loss from unconsolidated entities   (14,336,000)   (4,691,000) (29,521,000) (6,024,000)
Net income   379,668,000   140,479,000 538,244,000 252,539,000
Non-Segment/Corporate            
Revenue            
Miscellaneous income   1,017,000   307,000 1,543,000 1,798,000
Total revenues   1,017,000   307,000 1,543,000 1,798,000
Net operating income   1,017,000   307,000 1,543,000 1,798,000
Triple-Net Investments            
Revenue            
Impairment on real estate properties   0     (400,000)  
Triple-Net Investments | Operating segment            
Revenue            
Rental income   266,486,000   239,202,000 537,103,000 471,380,000
Interest income   46,756,000   42,997,000 91,911,000 86,113,000
Total revenues   313,242,000   282,199,000 629,014,000 557,493,000
Property-level expenses   (3,938,000)   (3,771,000) (7,954,000) (7,597,000)
Net operating income from unconsolidated entities   15,211,000   2,504,000 29,789,000 4,915,000
Net operating income   324,515,000   $ 280,932,000 650,849,000 $ 554,811,000
Operating segment | Operating segment            
Revenue            
Resident fees and services   13,987,000     20,644,000  
Total revenues   13,987,000     20,644,000  
Property-level expenses   (12,259,000)     (17,686,000)  
Net operating income from unconsolidated entities   3,654,000     8,025,000  
Net operating income   $ 5,382,000     $ 10,983,000