v3.26.3
Real Property Acquisitions and Development - Summary of Real Property Investment Activity by Segment (Details)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
USD ($)
property
Sep. 30, 2025
USD ($)
Business Combination [Line Items]    
Land and land improvements $ 945,328 $ 527,104
Buildings and improvements 8,584,738 4,275,346
Acquired lease intangibles 516,116 229,990
Construction in progress 628,257 0
Real property held for sale 452 224,015
Right of use assets, net 13,368 24,204
Total net real estate assets 10,688,259 5,280,659
Receivables and other assets 128,065 36,151
Total assets acquired 10,816,324 5,316,810
Secured debt (559,043) (441,983)
Lease liabilities (4,048) (4,731)
Accrued expenses and other liabilities (146,096) (75,202)
Total liabilities acquired (709,187) (521,916)
Noncontrolling interests (55,089) (5,620)
Non-cash acquisition related activity (347,053) (748,338)
Cash disbursed for acquisitions 9,704,995 4,040,936
Construction in progress additions 377,832 362,493
Less: Capitalized interest (30,024) (26,322)
Accruals 12,553 (2,190)
Cash disbursed for construction in progress 360,361 333,981
Capital improvements to existing properties 937,095 736,288
Total cash invested in real property, net of cash acquired 11,002,451 5,111,205
Cash acquired from acquisition $ 7,379 5,239,000
Number of properties, reclassified from sales-type lease to operating lease | property 2  
Seniors Housing Operating    
Business Combination [Line Items]    
Land and land improvements $ 763,834 359,679
Buildings and improvements 6,147,921 2,221,761
Acquired lease intangibles 505,540 222,250
Construction in progress 628,257 0
Real property held for sale 452 175,262
Right of use assets, net 12,146 3,032
Total net real estate assets 8,058,150 2,981,984
Receivables and other assets 128,047 22,536
Total assets acquired 8,186,197 3,004,520
Secured debt (559,043) (441,983)
Lease liabilities (2,967) (3,032)
Accrued expenses and other liabilities (142,242) (63,171)
Total liabilities acquired (704,252) (508,186)
Noncontrolling interests (55,089) (5,620)
Non-cash acquisition related activity (96,792) (196,950)
Cash disbursed for acquisitions 7,330,064 2,293,764
Construction in progress additions 381,706 289,195
Less: Capitalized interest (29,740) (22,609)
Accruals (917) 3,511
Cash disbursed for construction in progress 351,049 270,097
Capital improvements to existing properties 891,013 634,959
Total cash invested in real property, net of cash acquired 8,572,126 3,198,820
Triple-net    
Business Combination [Line Items]    
Land and land improvements 181,148 148,088
Buildings and improvements 2,349,629 2,052,242
Acquired lease intangibles 0 7,084
Construction in progress 0 0
Real property held for sale 0 48,753
Right of use assets, net 0 18,389
Total net real estate assets 2,530,777 2,274,556
Receivables and other assets 0 13,556
Total assets acquired 2,530,777 2,288,112
Secured debt 0 0
Lease liabilities 0 0
Accrued expenses and other liabilities (3,414) (10,442)
Total liabilities acquired (3,414) (10,442)
Noncontrolling interests 0 0
Non-cash acquisition related activity (158,624) (531,281)
Cash disbursed for acquisitions 2,368,739 1,746,389
Construction in progress additions (6) 153
Less: Capitalized interest 0 0
Accruals 0 1,094
Cash disbursed for construction in progress (6) 1,247
Capital improvements to existing properties 32,348 30,233
Total cash invested in real property, net of cash acquired 2,401,081 1,777,869
Outpatient Medical    
Business Combination [Line Items]    
Land and land improvements 346 19,337
Buildings and improvements 87,188 1,343
Acquired lease intangibles 10,576 656
Construction in progress 0 0
Real property held for sale 0 0
Right of use assets, net 1,222 2,783
Total net real estate assets 99,332 24,119
Receivables and other assets 18 59
Total assets acquired 99,350 24,178
Secured debt 0 0
Lease liabilities (1,081) (1,699)
Accrued expenses and other liabilities (440) (1,589)
Total liabilities acquired (1,521) (3,288)
Noncontrolling interests 0 0
Non-cash acquisition related activity (91,637) (20,107)
Cash disbursed for acquisitions 6,192 783
Construction in progress additions (3,868) 73,145
Less: Capitalized interest (284) (3,713)
Accruals 13,470 (6,795)
Cash disbursed for construction in progress 9,318 62,637
Capital improvements to existing properties 13,734 71,096
Total cash invested in real property, net of cash acquired $ 29,244 $ 134,516