v3.26.1
Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2026
Intangible Assets  
Summary of the carrying amount of intangible assets

June 30, 2026

December 31, 2025

Accumulated

Accumulated

Assets

Cost

Amortization

Net

Cost

Amortization

Net

In-place leases

$

30,403

(1)

$

(10,025)

(2)

$

20,378

$

24,098

(1)

$

(7,772)

(2)

$

16,326

Tax abatement intangible

$

8,309

(3)

$

(2,135)

(3)

$

6,174

$

8,309

(3)

$

(1,789)

(3)

$

6,520

(1)Included in the Buildings and improvements line item in our Consolidated Balance Sheets. Increase relates to acquisition of five seniors housing communities during 2026 within our SHOP segment. See Note 3. Owned Real Properties for more information regarding our SHOP segment acquisitions.

(2)Included in the Accumulated depreciation and amortization line item in our Consolidated Balance Sheets.

(3)Included in the Prepaid expenses and other assets line item in our Consolidated Balance Sheets.
Schedule of future amortization expenses related to the intangible assets

The following table provides future amortization expenses related to the intangible assets at June 30, 2026 (in thousands):

July-December

  ​ ​ ​

Total

  ​ ​ ​

2026

2027

  ​ ​ ​

2028

  ​ ​ ​

2029

  ​ ​ ​

2030

  ​ ​ ​

2031

  ​ ​ ​

Thereafter

In-place leases (1)

$

20,378

$

2,390

$

4,662

$

4,329

$

3,998

$

3,454

$

1,214

$

331

Tax abatement intangible (2)

 

6,174

346

 

692

 

692

 

692

 

692

 

692

 

2,368

$

26,552

$

2,736

$

5,354

$

5,021

$

4,690

$

4,146

$

1,906

$

2,699

(1)Recorded as amortization expense included in the Depreciation and amortization line item on our Consolidated Statements of Income.

(2)Recorded as Triple-net lease property tax expense on our Consolidated Statements of Income.