v3.26.1
Concentration of Credit Risk
6 Months Ended
Jun. 30, 2026
Risks and Uncertainties [Abstract]  
Concentration of Credit Risk Concentration of Credit Risk
Concentrations of credit risk arise when one or more residents, operators, or obligors related to the Company’s investments are engaged in similar business activities or activities in the same geographic region, or have similar economic features that would cause their ability to meet contractual obligations, including those to the Company, to be similarly affected by changes in economic conditions. The Company regularly monitors its portfolio to assess potential concentrations of credit risks.
The following table provides information regarding the Company’s concentrations with respect to certain states, operators, and properties; the information provided is presented as percentages of the Company’s total gross real estate assets and revenues:
Percentage of Gross Real Estate AssetsPercentage of Total Revenues
June 30,
2026
December 31,
2025
Three Months Ended June 30,Six Months Ended June 30,
Concentration2026202520262025
State:
Florida516850645164
Texas112134134
Pennsylvania111512161216
Operator:
LCS668665846684
Sunrise Senior Living101412161316
Ciel Senior Living111010
Property:
Freedom Plaza Sun City Center8117979
Cypress Village7107979
There is no resident concentration in resident fees and services because the related agreements are with individual residents.
The following table provides information regarding the Company’s concentrations for Medicare and Medicaid as percentages of total revenues:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Medicare12 %16 %13 %16 %
Medicaid%%%%