| Schedule of Segment Expenses and Net Income (Loss) |
The following table presents significant segment expenses and net income (loss) for the three and six months ended June 30, 2026 and 2025 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Resident fees and services | $ | 216,456 | | | $ | 148,855 | | | $ | 416,801 | | | $ | 297,782 | | | Compensation and property management | (100,605) | | | (72,083) | | | (191,613) | | | (142,465) | | | Food | (9,870) | | | (6,782) | | | (18,568) | | | (13,225) | | | Real estate taxes | (6,566) | | | (4,324) | | | (13,046) | | | (8,832) | | | Repairs and maintenance | (7,719) | | | (4,873) | | | (14,371) | | | (9,719) | | | Utilities | (8,701) | | | (5,719) | | | (16,846) | | | (11,382) | | Other segment items(1) | (25,325) | | | (18,006) | | | (48,940) | | | (36,802) | | | Depreciation and amortization | (56,473) | | | (31,191) | | | (107,871) | | | (63,990) | | | General and administrative | (1,334) | | | (2,382) | | | (4,292) | | | (5,514) | | | General and administrative - related party management fee | (2,472) | | | — | | | (2,800) | | | — | | | Interest expense | (350) | | | (949) | | | (701) | | | (1,897) | | | Transaction costs | (4,278) | | | — | | | (22,788) | | | — | | | Gain (loss) on sales of real estate, net | 3,884 | | | — | | | 3,884 | | | — | | | Gain (loss) upon change of control, net | — | | | — | | | 46,270 | | | — | | | Gain (loss) on debt extinguishments | — | | | — | | | (403) | | | — | | | Other income (expense), net | 16,465 | | | (4,029) | | | 17,281 | | | (6,409) | | | Income tax benefit (expense) | 1,746 | | | (2,096) | | | 624 | | | (4,687) | | | Equity income (loss) from unconsolidated joint venture | — | | | 1,009 | | | 111 | | | 2,460 | | | Net income (loss) | $ | 14,858 | | | $ | (2,570) | | | $ | 42,732 | | | $ | (4,680) | |
_______________________________________ (1)Other segment items include: (i) cleaning and supplies, (ii) insurance, (iii) marketing, and (iv) other expenses.
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