| Schedule of significant 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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The following table presents significant segment expenses and net income (loss) for the years ended December 31, 2025 and 2024 (in thousands): | | | | | | | | | | | | | | | | Year Ended December 31, | | | 2025 | | 2024 | Resident fees and services | | $ | 603,989 | | $ | 568,475 | Compensation and property management | | | (287,758) | | | (278,881) | Food | | | (27,263) | | | (26,513) | Real estate taxes | | | (15,937) | | | (15,472) | Repairs and maintenance | | | (20,212) | | | (18,373) | Utilities | | | (23,602) | | | (22,309) | Other segment items(1) | | | (74,151) | | | (68,895) | Depreciation and amortization | | | (126,356) | | | (137,186) | General and administrative | | | (10,549) | | | (11,921) | Interest expense | | | (3,797) | | | (3,942) | Transaction costs | | | (1,607) | | | — | Gain (loss) on sales of real estate, net | | | — | | | (16,413) | Other income (expense), net | | | 863 | | | (32,417) | Income tax benefit (expense) | | | (11,339) | | | 11,490 | Equity income (loss) from unconsolidated joint venture | | | 4,068 | | | 1,894 | Net income (loss) | | $ | 6,349 | | $ | (50,463) |
| (1) | Other segment items include: (i) cleaning and supplies, (ii) insurance, (iii) marketing, and (iv) other expenses. |
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