Three Months Ended March 31, | |||||||||||
| 2025 | 2024 | ||||||||||
| Revenues: | |||||||||||
| Resident fees and services | $ | 497,176 | $ | 452,118 | |||||||
| Real estate revenue | 43,427 | 47,415 | |||||||||
| Total revenues | 540,603 | 499,533 | |||||||||
| Expenses: | |||||||||||
| Property operating expenses | 432,423 | 403,629 | |||||||||
| Rental expenses | 13,643 | 13,727 | |||||||||
| General and administrative | 13,155 | 11,828 | |||||||||
| Business acquisition expenses | 1,837 | 2,782 | |||||||||
| Depreciation and amortization | 41,114 | 42,767 | |||||||||
| Total expenses | 502,172 | 474,733 | |||||||||
| Other income (expense): | |||||||||||
| Interest expense: | |||||||||||
| Interest expense | (22,945) | (36,438) | |||||||||
| (Loss) gain in fair value of derivative financial instruments | (750) | 6,417 | |||||||||
| (Loss) gain on dispositions of real estate investments, net | (359) | 2,263 | |||||||||
| Impairment of real estate investment | (21,706) | — | |||||||||
| Loss from unconsolidated entities | (1,848) | (1,205) | |||||||||
| Foreign currency gain (loss) | 1,416 | (426) | |||||||||
| Other income, net | 1,525 | 1,863 | |||||||||
| Total net other expense | (44,667) | (27,526) | |||||||||
| Loss before income taxes | (6,236) | (2,726) | |||||||||
| Income tax expense | (604) | (278) | |||||||||
| Net | (6,840) | (3,004) | |||||||||
| Net loss (income) attributable to noncontrolling interests | 36 | (888) | |||||||||
| Net loss attributable to controlling interest | $ | (6,804) | $ | (3,892) | |||||||
| Net loss per share of Common Stock, Class T common stock and Class I common stock attributable to controlling interest: | |||||||||||
| Basic | $ | (0.04) | $ | (0.04) | |||||||
| Diluted | $ | (0.04) | $ | (0.04) | |||||||
| Weighted average number of shares of Common Stock, Class T common stock and Class I common stock outstanding: | |||||||||||
| Basic | 156,922,819 | 104,295,142 | |||||||||
| Diluted | 156,922,819 | 104,295,142 | |||||||||
| Net | $ | (6,840) | $ | (3,004) | |||||||
| Other comprehensive income (loss): | |||||||||||
| Foreign currency translation adjustments | 176 | (43) | |||||||||
| Total other comprehensive income (loss) | 176 | (43) | |||||||||
| Comprehensive loss | (6,664) | (3,047) | |||||||||
| Comprehensive loss (income) attributable to noncontrolling interests | 36 | (888) | |||||||||
| Comprehensive loss attributable to controlling interest | $ | (6,628) | $ | (3,935) | |||||||