v3.26.1
Segment Reporting
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company is a REIT that owns, leases, acquires, invests in joint ventures, manages, finances, develops and redevelops its medical outpatient properties and reports the operating results in the accompanying Condensed Consolidated Financial Statements as one reportable segment. The CODM assesses performance and allocates resources based on consolidated net income (loss) as reported on the Company's Condensed Consolidated Statements of Operations. The Company uses net income (loss) to monitor expected versus actual results to assess the segment's performance. The measure of the Company's reportable segment assets is reported on the Company's Condensed Consolidated Balance Sheets as total assets.
Pursuant to ASU 2023-07, Segment Reporting (Topic 280), public entities are required to disclose more detailed information about significant reportable segment expenses that are regularly provided to the CODM.
The table below details the significant expenses for the three and six months ended June 30, 2026 and 2025.
THREE MONTHS ENDED JUNE 30,SIX MONTHS ENDED JUNE 30,
Dollars in thousands2026202520262025
Significant Segment Expenses:
Property taxes$25,463 $29,029 $51,488 $57,839 
Personnel26,154 24,221 50,715 48,600 
Utilities20,750 22,189 41,792 44,140 
Maintenance24,369 24,746 50,117 53,493 
Totals$96,736 $100,185 $194,112 $204,072 
The following schedule reconciles net loss to segment expenses for the three and six months ended June 30, 2026 and 2025.
THREE MONTHS ENDED JUNE 30,SIX MONTHS ENDED JUNE 30,
Dollars in thousands2026202520262025
Revenue$281,849 $297,502 $560,839 $596,478 
Property taxes(25,463)(29,029)(51,488)(57,839)
Personnel(26,154)(24,221)(50,715)(48,600)
Utilities(20,750)(22,189)(41,792)(44,140)
Maintenance(24,369)(24,746)(50,117)(53,493)
Other segment expenses 1
(16,606)(27,494)(36,631)(47,033)
Transaction costs(1,473)(593)(2,410)(1,604)
Depreciation and amortization(128,065)(153,476)(257,051)(309,510)
Gain on sales of real estate properties and other assets3,713 20,004 14,490 22,907 
Interest expense(45,146)(53,346)(89,036)(108,157)
Loss on extinguishment of debt(1,698)— (1,718)— 
Impairment of real estate properties and credit loss recoveries (reserves)(42,741)(142,348)(41,757)(154,429)
Equity income from unconsolidated joint ventures2,929 158 3,425 159 
Interest and other (expense) income, net19 (366)27 (271)
Net loss$(43,955)$(160,144)$(43,934)$(205,532)
1    Other segment expenses are primarily related to administrative costs, travel, legal, technology, and insurance.