v3.26.1
OPERATION EXPANSIONS
6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
OPERATION EXPANSIONS OPERATION EXPANSIONS
2026 Expansions
During the six months ended June 30, 2026, the Company’s operations grew through the addition of four stand-alone facilities, three of which were acquired in conjunction with the real estate for the properties and one of which the Company
acquired through a long-term lease. The new facilities added 316 assisted living beds operated by the Company's affiliated operating subsidiaries. The aggregate purchase price for these facilities was $92,766.
Additionally, during the same period the Company expanded its portfolio of owned properties by acquiring four properties, that it had previously operated, for an aggregate purchase price of $98,033.
During the same period, the Company also divested of one leased facility which included 110 skilled nursing beds.
The Company’s expansion strategy has been focused on identifying both opportunistic and strategic acquisitions within its target markets that offer strong opportunities to improve both clinical and financial performance of the acquired facilities. The operations added by the Company are frequently underperforming or moderately-performing financially and may have regulatory and clinical challenges to overcome. Financial information, especially with underperforming operations, is often inadequate, inaccurate or unavailable. The Company believes that prior operating results are not typically a meaningful representation of the Company’s current operating results or indicative of the integration potential of its newly acquired operating subsidiaries. The assets added during the six months ended June 30, 2026 and through the issuance of the financial statements were not material operations to the Company individually or in the aggregate. Accordingly, pro forma financial information is not presented. The additions have been included in the condensed consolidated balance sheets of the Company, and the operating results have been included in the condensed consolidated statements of income of the Company since the date the Company gained effective control.
Expansions After Period End
Subsequent to June 30, 2026, the Company’s operations expanded in one existing state through the addition of 20 stand-alone facilities which the Company acquired via long-term leases. These new facilities added 2,312 skilled nursing beds operated by the Company’s affiliated operating subsidiaries. The aggregate purchase price for these facilities was $66,124. Additionally, the Company expanded its portfolio of owned properties by acquiring four properties that it had previously operated, including the remaining ownership interest of BRFS. The aggregate purchase price of the properties was $95,707, which includes $27,460 of assumed HUD debt.