CNL Healthcare Properties (CHTH) 10-Q 14 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 09, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Registrant Name	CNL Healthcare Properties, Inc.
Entity Central Index Key	0001496454
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity File Number	000-54685
Entity Tax Identification Number	27-2876363
Entity Address, Address Line One	CNL Center at City Commons
Entity Address, Address Line Two	450 South Orange Avenue
Entity Address, City or Town	Orlando
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32801
City Area Code	407
Local Phone Number	650-1000
Entity Common Stock, Shares Outstanding		173,960,540
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	MD
Document Quarterly Report	true
Document Transition Report	false
Entity Filer Category	Non-accelerated Filer

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
ASSETS
Real estate investment properties, net (including VIEs $31,129 and $42,612, respectively)	$ 1,320,475	$ 1,338,856
Assets held for sale	0	8,373
Cash (including VIEs $670 and $1,597, respectively)	94,733	53,161
Restricted cash (including VIEs $88 and $59, respectively)	4,195	4,520
Other assets (including VIEs $576 and $544, respectively)	15,308	18,700
Deferred rent, lease incentives and intangibles, net	14,427	12,970
Total assets	1,449,138	1,436,580
Liabilities:
Mortgages and other notes payable, net (including VIEs $21,176 and $28,855, respectively)	62,121	89,400
Credit facilities	545,759	499,728
Accounts payable and accrued liabilities (including VIEs $1,215 and $1,489, respectively)	29,700	29,170
Other liabilities (including VIEs $222 and $299, respectively)	7,586	6,115
Due to related parties	1,389	1,406
Total liabilities	646,555	625,819
Commitments and contingencies (Note 12)
Stockholders' equity:
Preferred stock, $0.01 par value per share, 200,000 shares authorized; none issued or outstanding	0	0
Excess shares, $0.01 par value per share, 300,000 shares authorized; none issued or outstanding	0	0
Common stock, $0.01 par value per share, 1,120,000 shares authorized, 186,626 shares issued and 173,960 shares outstanding	1,740	1,740
Capital in excess of par value	1,516,926	1,516,926
Accumulated income	106,487	101,861
Accumulated distributions	(824,853)	(811,493)
Accumulated other comprehensive income	1,712	10
Total stockholders' equity	802,012	809,044
Noncontrolling interest	571	1,717
Total equity	802,583	810,761
Total liabilities and equity	$ 1,449,138	$ 1,436,580

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Real estate investment properties	$ 1,320,475	$ 1,338,856
Cash	94,733	53,161
Restricted cash	4,195	4,520
Other assets	15,308	18,700
Mortgages and other notes payable, net	62,121	89,400
Accounts payable and accrued liabilities	29,700	29,170
Other liabilities	$ 7,586	$ 6,115
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	200,000,000	200,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Excess shares, par value (in dollars per share)	$ 0.01	$ 0.01
Excess shares, shares authorized (in shares)	300,000,000	300,000,000
Excess shares, shares issued (in shares)	0	0
Excess shares, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,120,000,000	1,120,000,000
Common stock, shares issued (in shares)	186,626,000	186,626,000
Common stock, shares outstanding (in shares)	173,960,000	173,960,000
Variable Interest Entity, Primary Beneficiary
Real estate investment properties	$ 31,129	$ 42,612
Cash	670	1,597
Restricted cash	88	59
Other assets	576	544
Mortgages and other notes payable, net	21,176	28,855
Accounts payable and accrued liabilities	1,215	1,489
Other liabilities	$ 222	$ 299

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues:
Rental income and related revenues	$ 6,668	$ 7,737	$ 20,240	$ 22,472
Resident fees and services	74,824	66,446	220,888	197,123
Total revenues	81,492	74,183	241,128	219,595
Operating expenses:
Property operating expenses	57,297	49,475	169,148	144,674
General and administrative expenses	2,730	2,229	7,802	6,747
Depreciation and amortization	13,232	12,641	40,765	37,585
Total operating expenses	80,435	71,150	239,337	210,583
Gain on sale of real estate	6,282	0	6,282	0
Operating income	7,339	3,033	8,073	9,012
Other income (expense):
Interest and other income	70	25	4,064	415
Interest expense and loan cost amortization	(6,076)	(5,248)	(14,678)	(15,789)
Gain on change of control of a joint venture	0	0	8,376	0
Equity in earnings of unconsolidated entity	0	176	0	413
Total other (expense) income	(6,006)	(5,047)	(2,238)	(14,961)
Income (loss) before income taxes	1,333	(2,014)	5,835	(5,949)
Income tax (expense) benefit	(71)	1,502	(221)	3,861
Income (loss) from continuing operations	1,262	(512)	5,614	(2,088)
Loss from discontinued operations	0	0	0	(10)
Net income (loss)	1,262	(512)	5,614	(2,098)
Less: Amounts attributable to noncontrolling interests
Net income (loss) from continuing operations	940	21	988	(12)
Net income (loss) attributable to common stockholders	$ 322	$ (533)	$ 4,626	$ (2,086)
Net income (loss) per share of common stock (basic and diluted)
Continuing operations, basic (in dollars per share)	$ 0	$ 0	$ 0.03	$ (0.01)
Continuing operations, diluted (in dollars per share)	0	0	0.03	(0.01)
Discontinued operations, basic (in dollars per share)	0	0	0	0
Discontinued operations, diluted (in dollars per share)	$ 0	$ 0	$ 0	$ 0
Weighted average number of shares outstanding, basic (in shares)	173,960	173,960	173,960	173,960
Weighted average number of shares outstanding, diluted (in shares)	173,960	173,960	173,960	173,960
Asset Management Fees
Operating expenses:
Cost of Goods and Services Sold	$ 3,496	$ 3,575	$ 10,598	$ 12,158
Property Management Fees
Operating expenses:
Cost of Goods and Services Sold	$ 3,680	$ 3,230	$ 11,024	$ 9,419

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 1,262	$ (512)	$ 5,614	$ (2,098)
Other comprehensive income:
Unrealized (loss) gain on derivative financial instruments, net	(145)	9	1,702	15
Unrealized gain on derivative financial instruments of equity method investments	0	1	0	5
Total other comprehensive (loss) income	(145)	10	1,702	20
Comprehensive income (loss)	1,117	(502)	7,316	(2,078)
Less: Comprehensive income (loss) attributable to noncontrolling interest	940	21	988	(12)
Comprehensive income (loss) attributable to common stockholders	$ 177	$ (523)	$ 6,328	$ (2,066)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND REDEEMABLE NONCONTROLLING INTEREST (UNAUDITED) - USD ($) $ in Thousands	Total	Redeemable Noncontrolling Interest	Total Stockholders' Equity	Common Stock	Capital in Excess of Par Value	Accumulated Income (Loss)	Accumulated Distributions	Accumulated Other Comprehensive (Loss) Income	Non- controlling Interest
Beginning balance at Dec. 31, 2020	$ 869,369	$ 572	$ 867,508	$ 1,740	$ 1,516,926	$ 124,743	$ (775,866)	$ (35)	$ 1,289
Beginning Balance (in shares) at Dec. 31, 2020				173,960,000
Net income (loss)	(2,098)	22	(2,086)			(2,086)			(34)
Other comprehensive income	20		20					20
Distributions to noncontrolling interests	(160)	(89)							(71)
Cash distributions declared	(26,720)		(26,720)				(26,720)
Reclassification of redeemable noncontrolling interest		(505)							505
Ending Balance at Sep. 30, 2021	840,411	0	838,722	$ 1,740	1,516,926	122,657	(802,586)	(15)	1,689
Ending Balance (in shares) at Sep. 30, 2021				173,960,000
Beginning balance at Jun. 30, 2021	849,843		848,152	$ 1,740	1,516,926	123,190	(793,679)	(25)	1,691
Beginning Balance (in shares) at Jun. 30, 2021				173,960,000
Net income (loss)	(512)		(533)			(533)			21
Other comprehensive income	10		10					10
Distributions to noncontrolling interests	(23)								(23)
Cash distributions declared	(8,907)		(8,907)				(8,907)
Ending Balance at Sep. 30, 2021	840,411	$ 0	838,722	$ 1,740	1,516,926	122,657	(802,586)	(15)	1,689
Ending Balance (in shares) at Sep. 30, 2021				173,960,000
Beginning balance at Dec. 31, 2021	$ 810,761		809,044	$ 1,740	1,516,926	101,861	(811,493)	10	1,717
Beginning Balance (in shares) at Dec. 31, 2021	173,960,000			173,960,000
Net income (loss)	$ 5,614		4,626			4,626			988
Other comprehensive income	1,702		1,702					1,702
Distributions to noncontrolling interests	(2,134)								(2,134)
Cash distributions declared	(13,360)		(13,360)				(13,360)
Ending Balance at Sep. 30, 2022	$ 802,583		802,012	$ 1,740	1,516,926	106,487	(824,853)	1,712	571
Ending Balance (in shares) at Sep. 30, 2022	173,960,000			173,960,000
Beginning balance at Jun. 30, 2022	$ 808,054		806,289	$ 1,740	1,516,926	106,165	(820,399)	1,857	1,765
Beginning Balance (in shares) at Jun. 30, 2022				173,960,000
Net income (loss)	1,262		322			322			940
Other comprehensive income	(145)		(145)					(145)
Distributions to noncontrolling interests	(2,134)								(2,134)
Cash distributions declared	(4,454)		(4,454)				(4,454)
Ending Balance at Sep. 30, 2022	$ 802,583		$ 802,012	$ 1,740	$ 1,516,926	$ 106,487	$ (824,853)	$ 1,712	$ 571
Ending Balance (in shares) at Sep. 30, 2022	173,960,000			173,960,000

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND REDEEMABLE NONCONTROLLING INTEREST (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Stockholders' Equity [Abstract]
Cash distributions, declared per share	$ 0.0256	$ 0.0512	$ 0.0768	$ 0.1536

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities:
Net cash flows provided by operating activities – continuing operations	$ 34,394	$ 32,919
Net cash flows used in operating activities – discontinued operations	0	(7)
Net cash flows provided by operating activities	34,394	32,912
Investing activities:
Acquisition of joint venture interest, net of cash acquired	(1,134)	0
Net proceeds from sale of property	36,655	0
Capital expenditures	(12,288)	(8,332)
Other investing activities	373	35
Net cash provided by (used in) investing activities – continuing operations	23,606	(8,297)
Net cash provided by investing activities – discontinued operations	0	7,402
Net cash provided by (used in) investing activities	23,606	(895)
Financing activities:
Distributions to stockholders	(13,360)	(26,720)
Payment of loan costs	(324)	(2,242)
Draws on line of credit	45,000	0
Principal payments on mortgages and other notes payable	(45,935)	(8,439)
Distributions to noncontrolling interests	(2,134)	(160)
Other financing activities	0	1
Net cash flows used in financing activities	(16,753)	(37,560)
Net increase (decrease) in cash and restricted cash	41,247	(5,543)
Cash and restricted cash at beginning of period, including assets held for sale	57,681	66,011
Cash and restricted cash at end of period, including assets held for sale	98,928	60,468
Supplemental disclosure of non-cash investing and financing activities:
Real estate investment properties	29,384	0
Intangibles	4,281	0
Mortgages and notes payable	(18,468)	0
Net assets recognized upon the change in control of the Windsor Manor Joint Venture (Note 4)	$ 15,197	$ 0

Organization

Organization	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization CNL Healthcare Properties, Inc. (the “Company”) is a Maryland corporation that elected to be taxed as a real estate investment trust (“REIT”) for United States (“U.S.”) federal income tax purposes. The Company has been and intends to continue to be organized and operate in a manner that allows it to remain qualified as a REIT for U.S. federal income tax purposes. The Company conducts substantially all of its operations either directly or indirectly through: (1) an operating partnership, CHP Partners, LP (“Operating Partnership”), in which the Company is the sole limited partner and its wholly-owned subsidiary, CHP GP, LLC, is the sole general partner; (2) a wholly-owned taxable REIT subsidiary (“TRS”), CHP TRS Holding, Inc.; (3) property owner and lender subsidiaries, which are single purpose entities; and (4) investments in joint ventures. The Company is externally managed and advised by CNL Healthcare Corp. (“Advisor”), which is an affiliate of CNL Financial Group, LLC (“Sponsor”). The Sponsor is an affiliate of CNL Financial Group, Inc. (“CNL”). The Advisor is responsible for managing the Company’s day-to-day operations, serving as a consultant in connection with policy decisions to be made by the board of directors, and for identifying, recommending and executing on possible strategic alternatives and dispositions on the Company’s behalf pursuant to an advisory agreement among the Company, the Operating Partnership and the Advisor. Substantially all of the Company’s operating, administrative and certain property management services are provided by affiliates of the Advisor. In addition, certain property management services are provided by third-party property managers. In 2017, the Company began evaluating possible strategic alternatives to provide liquidity to the Company’s stockholders. As part of executing under possible strategic alternatives, the Company’s board of directors committed to a plan to sell 70 properties, including properties comprising its MOB/Healthcare portfolio. As of December 31, 2021, the Company had successfully completed the sale of 69 properties and in April 2022, completed the sale of the Hurst Specialty Hospital, the last property that the Company had committed to sell.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Consolidation — The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and note disclosures required by generally accepted accounting principles in the U.S. (“GAAP”). The unaudited condensed consolidated financial statements reflect all normal recurring adjustments, which, in the opinion of management, are necessary for the fair statement of the Company’s results for the interim period presented. Operating results for the nine months ended September 30, 2022 may not be indicative of the results that may be expected for the year ending December 31, 2022. Amounts as of December 31, 2021 included in the unaudited condensed consolidated financial statements have been derived from audited consolidated financial statements as of that date but do not include all disclosures required by GAAP. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The accompanying unaudited condensed consolidated financial statements include the Company’s accounts, the accounts of wholly owned subsidiaries or subsidiaries for which the Company has a controlling interest, the account s of two v ariable interest entities (“VIEs”) in which the Company is the primary beneficiary, and the accounts of other subsidiaries over which the Company has a controlling financial interest. All material intercompany accounts and transactions have been eliminated in consolidation. 2. Summary of Significant Accounting Policies (continued) Government Grant Income — On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was signed into law which provided, among other things, for the establishment of a Provider Relief Fund under the direction of the Department of Health and Human Services (“HHS”). Provider relief funds received under the CARES Act are deemed governmental grants provided that the recipient attests to and complies with certain terms and conditions. Grant income is recognized upon receipt of provider relief funds and when all the conditions of the grant have been met. During the nine months ended September 30, 2022 and 2021, the Company recorded approximatel y $3.9 million and $0.4 million , res pectively, as other income in the accompanying condensed consolidated statements of operations as all conditions of the grant had been met. Risks and Uncertainties — In March 2020, the World Health Organization declared the outbreak of the novel coronavirus (“COVID-19”) as a pandemic around the globe. Since the onset of the pandemic, the Company has operated and continues to operate its communities through the disruptions and uncertainties of the pandemic, including disruptions from new variants of the virus. Although more normalized activities have resumed, at this time the Company cannot predict the full extent of the impacts of the COVID-19 pandemic on the Company and its operations, and the COVID-19 pandemic may continue to have a material and adverse impact on our financial condition, results of operations and cash flows. Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements, the reported amounts of revenues and expenses during the reporting periods and the disclosure of contingent liabilities. For example, significant assumptions are made in the analysis of real estate impairments, the valuation of contingent assets and liabilities, and the valuation of restricted common stock (“Restricted Stock”) shares issued to the Advisor. Accordingly, actual results could differ from those estimates. Assets Held For Sale, net and Discontinued Operations — The Company determines to classify a property as held for sale once management has the authority to approve and commits to a plan to sell the property, the property is available for immediate sale, there is an active program to locate a buyer, the sale of the property is probable and the transfer of the property is expected to occur within one year. Upon the determination to classify a property as held for sale, the Company ceases recording further depreciation and amortization relating to the associated assets and those assets are measured at the lower of its carrying amount or fair value less disposition costs and are presented separately in the consolidated balance sheets for all periods presented. In addition, the Company classifies assets held for sale as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on the Company’s operations and financial results. For any disposal(s) qualifying as discontinued operations, the Company allocates interest expense and loan cost amortization that directly relates to either: (1) expense on mortgages and other notes payable collateralized by properties classified as discontinued operations; or (2) expense on the Company’s Credit Facilities, which is allocated based on the value of the properties that are classified as discontinued operations since these properties are included in the Credit Facilities’ unencumbered pool of assets and the related indebtedness is required to be repaid upon sale of the properties. Reclassifications — Certain amounts in the prior years’ condensed consolidated balance sheet and condensed consolidated statement of cash flows have been reclassified to conform to the current year’s presentation. Recently Adopted Accounting Pronouncements —

Revenue

Revenue	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The following table presents disaggregated revenue related to the Company’s resident fees and services during the quarter and nine months ended September 30, 2022 and 2021: Quarter Ended September 30, Number of Units Revenues (in millions) Percentage of Revenues Resident fees and services: 2022 2021 2022 2021 2022 2021 Independent living 2,223 2,256 $ 18.7 $ 17.7 25.0 % 26.7 % Assisted living 3,041 2,947 37.3 32.1 49.9 48.3 Memory care 932 904 15.1 13.2 20.2 19.9 Other revenues — — 3.7 3.4 4.9 5.1 6,196 6,107 $ 74.8 $ 66.4 100.0 % 100.0 % Nine Months Ended September 30, Number of Units Revenues (in millions) Percentage of Revenues Resident fees and services: 2022 2021 2022 2021 2022 2021 Independent living 2,223 2,256 $ 55.1 $ 51.9 24.9 % 26.3 % Assisted living 3,041 2,947 109.5 95.5 49.7 48.5 Memory care 932 904 45.6 39.8 20.6 20.2 Other revenues — — 10.7 9.9 4.8 5.0 6,196 6,107 $ 220.9 $ 197.1 100.0 % 100.0 %

Acquisition

Acquisition	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisition	Acquisition As of December 31, 2021, the Company held an interest in five properties through a 75% interest in an unconsolidated joint venture (the “Windsor Manor Joint Venture”), which was accounted for as an equity method investment. Effective January 1, 2022, the Company acquired the remaining 25% interest in the Windsor Manor Joint Venture from its joint venture partner for approximately $3.3 million. As a result, the Company obtained a 100% controlling interest in the Windsor Manor Joint Venture and consolidated the Windsor Manor Joint Venture. The acquisition was accounted for as an asset acquisition. As such, no goodwill was recognized in the acquisition. As the Company previously held an equity method investment in the Windsor Manor Joint Venture, the acquisition resulted in a gain on change of control of a joint venture of approximately $8.4 million, representing the difference between the fair market value and the carrying value of the equity method investment on the acquisition date. 4. Acquisition (continued) The following table summarizes the fair market value of the assets and liabilities recorded as part of the acquisition, adjusted on a relative fair value basis for the difference between the consideration transferred and the fair market value of the net assets acquired, of the Windsor Manor Joint Venture as of the acquisition date (in thousands): Equity method investment in unconsolidated joint venture $ 4,737 Consideration paid for additional 25% interest in joint venture 3,310 Total equity method investment and consideration paid $ 8,047 Cash $ 2,097 Restricted cash 79 Prepaid and other assets 64 Real estate assets 29,384 Intangibles (1) 4,281 Total assets acquired 35,905 Accounts payable and accrued expenses (953) Other liabilities (61) Mortgages and notes payable (18,468) Total liabilities assumed (19,482) Net assets acquired $ 16,423 _____________ FOOTNOTE: (1) Effective January 1, 2022, the weighted-average amortization period on the lease intangibles was approximately 1.3 years and was comprised of in-place lease intangibles.

Real Estate Assets, net

Real Estate Assets, net	9 Months Ended
	Sep. 30, 2022
Real Estate [Abstract]
Real Estate Assets, net	Real Estate Assets, net In July 2022, the Company entered into a purchase and sale agreement (the “Fieldstone Sale Agreement ” ) for the sale of its Fieldstone Memory Care and Fieldstone at Pear Orchard properties (the “Fieldstone Properties ” ) with an unrelated third party buyer. The Fieldstone at Pear Orchard property was indirectly owned through a consolidated joint venture. The Company completed the sale of the Fieldstone Properties in August 2022 and recorded a gain of approximately $6.3 million, of which approxima tely $5.4 million was attributable to common stockholders. Additionally, the Company paid a disposition fee of approximately $0.1 million to the Advisor for the sale of these properties. The sale of the Fieldstone Properties did not cause a strategic shift in the Company’s operations, and was not considered significant; therefore, these properties did not qualify as discontinued operations. The gross carrying amount and accumulated depreciation of the Company’s real estate assets as of September 30, 2022 and December 31, 2021 are as follows, excluding the one asset held for sale (in thousands): September 30, December 31, Land and land improvements $ 136,229 $ 131,312 Building and building improvements 1,494,189 1,486,630 Furniture, fixtures and equipment 102,077 101,063 Less: accumulated depreciation (412,020) (380,149) Real estate investment properties, net $ 1,320,475 $ 1,338,856

Asset Held For Sale and Discont

Asset Held For Sale and Discontinued Operations	9 Months Ended
	Sep. 30, 2022
Real Estate Liabilities Associated with Assets Held for Development and Sale [Abstract]
Asset Held For Sale and Discontinued Operations	Asset Held For Sale and Discontinued OperationsIn March 2022, the Company received an unsolicited offer and entered into a purchase and sale agreement for the Hurst Specialty Hospital with an unrelated third party and classified this property as held for sale as of December 31, 2021 in the accompanying condensed consolidated balance sheet. Assets held for sale consisted of real estate held for sale, net as of December 31, 2021. The Company sold this property in April 2022, received net sales proceeds of $8.3 million and did not record a gain or loss on sale for financial reporting purposes. The sale of the Hurst Specialty Hospital did not cause a strategic shift in the Company's operations, and was not considered significant; therefore, this property did not qualify as discontinued operations. The Company did not have any properties for which it had classified the revenues and expenses as discontinued operations during the quarter and nine months ended September 30, 2022. During the nine months ended September 30, 2021, the Company classified the revenues and expenses related to the Company’s acute care property sold in January 2021 as discontinued operations in the accompanying condensed consolidated statements of operations. This property was identified for sale as part of the plan to sell the MOB/Healthcare portfolio and the Company determined that the sale of these properties represented a strategic shift in the Company’s operations. The Company recorded a loss from discontinued operations of approximately $10 thousand during the nine months ended September 30, 2021.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities As of September 30, 2022 and December 31, 2021, the Company had two subsidiaries classified as VIEs. These s ubsidiaries are joint ventures in which the equity interest consists of non-substantive protective voting rights. The Company determined it is the primary beneficiary and holds a controlling financial interest in each of these subsidiaries due to its power to direct the activities that most significantly impact the economic performance of the entities, as well as its obligation to absorb the losses and its right to receive benefits from these entities that could potentially be significant to these entities. As such, the transactions and accounts of these VIEs are included in the accompanying condensed consolidated financial statements. As described above in Note 5. “ Real Estate Assets, net, ”

Indebtedness

Indebtedness	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Indebtedness	Indebtedness The following table provides details of the Company's indebtedness as of September 30, 2022 and December 31, 2021 (in thousands): As of September 30, As of December 31, 2022 2021 Mortgages payable and other notes payable: Fixed rate debt (1) $ 44,287 $ 89,766 Variable rate debt (1)(2) 18,012 — Premium (3) 28 59 Loan costs, net (206) (425) Total mortgages and other notes payable, net 62,121 89,400 Credit facilities: Revolving Credit Facility (4)(5)(6) 133,000 88,000 Term Loan Facility (4)(6) 265,000 265,000 2021 Term Loan Facility (4)(6) 150,000 150,000 Loan costs, net related to Term Loan Facilities (2,241) (3,272) Total credit facilities, net 545,759 499,728 Total indebtedness, net $ 607,880 $ 589,128 8. Indebtedness (continued) _____________ FOOTNOTES: (1) As of September 30, 2022 and December 31, 2021, the Company’s mortgages and other notes payable are collateralized by seven properties, with total carrying value of approximately $93.3 million and $135.4 million, respectively. (2) In connection with the acquisition of the 25% interest in the Windsor Manor Joint Venture, the Company consolidated the net assets of the joint venture effective January 1, 2022, including the debt associated with the properties, at fair value. The debt collateralized by the five Windsor Manor properties pays interest at a rate of 2.50% plus 30-day LIBOR and matures in February 2024. The 30-day LIBOR was approxima tely 3.14% as of September 30, 2022. (3) Premium is reflective of the Company recording mortgage note payables assumed at fair value on the respective acquisition dates. (4) As of September 30, 2022 and December 31, 2021, the Company had entered into interest rate caps with notional amounts of approximately $355.0 million. (5) As of September 30, 2022 and December 31, 2021, the Company had undrawn availability under the applicable revolving credit facility of approximately $117.0 million and $14.1 million, respectively, based on the value of the properties in the unencumbered pool of assets supporting the loan. (6) Term SOFR (as defined in the Credit Facilities agreement) was approximately 3.14% a s of September 30, 2022. The 30-day LIBOR was approxima tely 0.10% as of December 31, 2021. In June 2022, the Company refinanced secured indebtedness of approximately $44.5 million, consisting of debt collateralized by five properties, in advance of its scheduled maturity of September 2022 using available borrowings under its Revolving Credit Facility. In September 2022, the Company amended the agreements under its Credit Facilities to transition its benchmark rate from LIBOR to SOFR effective September 2022. The Company had liquidity of approximately $211.7 million as of September 30, 2022 (consisting of cash on hand and undrawn availability under the Company's Credit Facilities). The Company has $0.4 million of scheduled payments coming due during the rest of 2022 and in May 2023, the $133 million outstanding under its Revolving Credit Facility will become due. The Revolving Credit Facility has a one-year extension option, which if exercised by the Company, will extend the maturity date to May 2024. The following is a schedule of future principal payments for the Company’s total indebtedness for the remainder of 2022, each of the next four years and thereafter, in the aggregate, as of September 30, 2022 (in thousands): 2022 $ 358 2023 157,054 2024 452,887 2025 — 2026 — Thereafter — $ 610,299 The following table provides the details of the fair market value and carrying value of the Company’s indebtedness as of September 30, 2022 and December 31, 2021 (in millions): September 30, 2022 December 31, 2021 Fair Value Carrying Value Fair Value Carrying Value Mortgages and other notes payable, net $ 61.0 $ 62.1 $ 90.4 $ 89.4 Credit facilities, net $ 548.0 $ 545.8 $ 503.0 $ 499.7 8. Indebtedness (continued) These fair market values are based on current rates and spreads the Company would expect to obtain for similar borrowings. Since this methodology includes inputs that are less observable by the public and are not necessarily reflected in active markets, the measurement of the estimated fair values related to the Company’s mortgage notes payable is categorized as Level 3 on the three-level valuation hierarchy. Generally, the loan agreements for the Company’s mortgage loans contain customary financial covenants and ratios; including (but not limited to) the following: debt service coverage ratio, minimum occupancy levels, limitations on incurrence of additional indebtedness, etc. The loan agreements also contain customary events of default and remedies for the lenders. As of September 30, 2022, the Company was in compliance with all financial covenants related to its mortgage loans.

Related Party Arrangements

Related Party Arrangements	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party Arrangements	Related Party Arrangements In May 2022, the Company extended its advisory agreement with the Advisor through June 2023. The Company paid approximately $0.03 million and $0.10 million during the quarter and nine months ended September 30, 2022, respectively, and approximately $0.07 million and $0.20 million during the quarter and nine months ended September 30, 2021, respectively, of cash distributions on Restricted Stock issued through March 2017 pursuant to the Advisor expense support agreement. These amounts have been recognized as compensation expense and included in general and administrative expenses in the accompanying condensed consolidated statements of operations. The expenses and fees incurred by and reimbursable to the Company’s related parties, including amounts included in income from discontinued operations, for the quarter and nine months ended September 30, 2022 and 2021, and related amounts unpaid as of September 30, 2022 and December 31, 2021 are as follows (in thousands): Quarter Ended Nine Months Ended Unpaid amounts as of (1) September 30, September 30, September 30, 2022 December 31, 2021 2022 2021 2022 2021 Reimbursable expenses: Operating expenses (2) $ 835 $ 887 $ 2,390 $ 2,360 $ 230 $ 214 835 887 2,390 2,360 230 214 Investment services fee (3) — — 60 — — — Disposition fee (4) 127 — 195 — — — Financing coordination fees (5) — 1,500 — 1,500 — — Asset management fees (6) 3,496 3,575 10,598 12,165 1,159 1,192 $ 4,458 $ 5,962 $ 13,243 $ 16,025 $ 1,389 $ 1,406 9. Related Party Arrangements (continued) _______________ FOOTNOTES: (1) Amounts are recorded as due to related parties in the accompanying condensed consolidated balance sheets. (2) Amounts are recorded as general and administrative expenses in the accompanying condensed consolidated statements of operations unless such amounts represent prepaid expenses, which are capitalized in the accompanying condensed consolidated balance sheets. (3) For the nine months ended September 30, 2022, the Company incurred approximately $0.1 million in investment services fees, all of which was capitalized and included in real estate assets, net in the accompanying condensed consolidated balance sheets. For the quarter and nine months ended September 30, 2021, the Company did not incur any investment services fees. (4) Amounts are recorded as a reduction to gain on sale of real estate in the accompanying condensed consolidated statements of operations. Effective May 26, 2021, the disposition fee was reduced from 1.0% to 0.80% of the gross market capitalization of the Company upon the occurrence of a listing on a national securities exchange, or of the gross consideration paid to the Company or its stockholders upon the occurrence of any other liquidity event of the Company (including the sale of the Company or a portion thereof), or of the gross sales price upon the sale or transfer of one or more of its properties. (5) For the quarter and nine months ended September 30, 2021, the Company incurred financing coordination fees of approximately $1.5 million related to the 2021 Term Loan Facility, all of which were capitalized as loan costs and reflected in mortgages and other notes payable, net in the accompanying condensed consolidated balance sheets.

Equity

Equity	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Equity	Equity

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesFrom time to time, the Company may be a party to legal proceedings in the ordinary course of, or incidental to the normal course of, its business, including proceedings to enforce its contractual or statutory rights. While the Company cannot predict the outcome of these legal proceedings with certainty, based upon currently available information, the Company does not believe the final outcome of any pending or threatened legal proceeding will have a material adverse effect on its results of operations or financial condition. 12. Commitments and Contingencies (continued) As a result of the Company’s completed seniors housing developments continuing to move towards or achieving stabilization, the Company monitors the lease-up of these properties to determine whether the established performance metrics have been met as of each reporting period. As of September 30, 2022, the Company had one r emaining promoted interest agreement with third-party developers pursuant to which certain operating targets have been established that, upon meeting such targets, the developer will be entitled to additional payments based on enumerated percentages of the assumed net proceeds of a deemed sale, subject to achievement of an established internal rate of return on the Company’s investment in the development. The established performance metrics were not met or probable of being met as of September 30, 2022. The Company’s Advisor has approximately 1.3 million contingently issuable Restricted Stock shares for financial reporting purposes that were issued pursuant to the Advisor expense support agreement. Refer to Note 9. “Related Party Arrangements”

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation — The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and note disclosures required by generally accepted accounting principles in the U.S. (“GAAP”). The unaudited condensed consolidated financial statements reflect all normal recurring adjustments, which, in the opinion of management, are necessary for the fair statement of the Company’s results for the interim period presented. Operating results for the nine months ended September 30, 2022 may not be indicative of the results that may be expected for the year ending December 31, 2022. Amounts as of December 31, 2021 included in the unaudited condensed consolidated financial statements have been derived from audited consolidated financial statements as of that date but do not include all disclosures required by GAAP. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The accompanying unaudited condensed consolidated financial statements include the Company’s accounts, the accounts of wholly owned subsidiaries or subsidiaries for which the Company has a controlling interest, the account s of two v ariable interest entities (“VIEs”) in which the Company is the primary beneficiary, and the accounts of other subsidiaries over which the Company has a controlling financial interest. All material intercompany accounts and transactions have been eliminated in consolidation.
Government Grant Income	Government Grant Income — On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was signed into law which provided, among other things, for the establishment of a Provider Relief Fund under the direction of the Department of Health and Human Services (“HHS”). Provider relief funds received under the CARES Act are deemed governmental grants provided that the recipient attests to and complies with certain terms and conditions. Grant income is recognized upon receipt of provider relief funds and when all the conditions of the grant have been met. During the nine months ended September 30, 2022 and 2021, the Company recorded approximatel y $3.9 million and $0.4 million , res
Risk and Uncertainties	Risks and Uncertainties —
Use of Estimates	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements, the reported amounts of revenues and expenses during the reporting periods and the disclosure of contingent liabilities. For example, significant assumptions are made in the analysis of real estate impairments, the valuation of contingent assets and liabilities, and the valuation of restricted common stock (“Restricted Stock”) shares issued to the Advisor. Accordingly, actual results could differ from those estimates.
Assets Held For Sale, net and Discontinued Operations	Assets Held For Sale, net and Discontinued Operations — The Company determines to classify a property as held for sale once management has the authority to approve and commits to a plan to sell the property, the property is available for immediate sale, there is an active program to locate a buyer, the sale of the property is probable and the transfer of the property is expected to occur within one year. Upon the determination to classify a property as held for sale, the Company ceases recording further depreciation and amortization relating to the associated assets and those assets are measured at the lower of its carrying amount or fair value less disposition costs and are presented separately in the consolidated balance sheets for all periods presented. In addition, the Company classifies assets held for sale as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on the Company’s operations and financial results. For any disposal(s) qualifying as discontinued operations, the Company allocates interest expense and loan cost amortization that directly relates to either: (1) expense on mortgages and other notes payable collateralized by properties classified as discontinued operations; or (2) expense on the Company’s Credit Facilities, which is allocated based on the value of the properties that are classified as discontinued operations since these properties are included in the Credit Facilities’ unencumbered pool of assets and the related indebtedness is required to be repaid upon sale of the properties.
Reclassifications	Reclassifications — Certain amounts in the prior years’ condensed consolidated balance sheet and condensed consolidated statement of cash flows have been reclassified to conform to the current year’s presentation.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements —

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Summary of Disaggregation of Revenue	The following table presents disaggregated revenue related to the Company’s resident fees and services during the quarter and nine months ended September 30, 2022 and 2021: Quarter Ended September 30, Number of Units Revenues (in millions) Percentage of Revenues Resident fees and services: 2022 2021 2022 2021 2022 2021 Independent living 2,223 2,256 $ 18.7 $ 17.7 25.0 % 26.7 % Assisted living 3,041 2,947 37.3 32.1 49.9 48.3 Memory care 932 904 15.1 13.2 20.2 19.9 Other revenues — — 3.7 3.4 4.9 5.1 6,196 6,107 $ 74.8 $ 66.4 100.0 % 100.0 % Nine Months Ended September 30, Number of Units Revenues (in millions) Percentage of Revenues Resident fees and services: 2022 2021 2022 2021 2022 2021 Independent living 2,223 2,256 $ 55.1 $ 51.9 24.9 % 26.3 % Assisted living 3,041 2,947 109.5 95.5 49.7 48.5 Memory care 932 904 45.6 39.8 20.6 20.2 Other revenues — — 10.7 9.9 4.8 5.0 6,196 6,107 $ 220.9 $ 197.1 100.0 % 100.0 %

Acquisition (Tables)

Acquisition (Tables)	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of the Fair Value of the Assets Acquired and Liabilities Assumed	The following table summarizes the fair market value of the assets and liabilities recorded as part of the acquisition, adjusted on a relative fair value basis for the difference between the consideration transferred and the fair market value of the net assets acquired, of the Windsor Manor Joint Venture as of the acquisition date (in thousands): Equity method investment in unconsolidated joint venture $ 4,737 Consideration paid for additional 25% interest in joint venture 3,310 Total equity method investment and consideration paid $ 8,047 Cash $ 2,097 Restricted cash 79 Prepaid and other assets 64 Real estate assets 29,384 Intangibles (1) 4,281 Total assets acquired 35,905 Accounts payable and accrued expenses (953) Other liabilities (61) Mortgages and notes payable (18,468) Total liabilities assumed (19,482) Net assets acquired $ 16,423 _____________ FOOTNOTE: (1) Effective January 1, 2022, the weighted-average amortization period on the lease intangibles was approximately 1.3 years and was comprised of in-place lease intangibles.

Real Estate Assets, net (Tables

Real Estate Assets, net (Tables)	9 Months Ended
	Sep. 30, 2022
Real Estate [Abstract]
Schedule of Real Estate Investment Properties Excluding Assets Held For Sale	The gross carrying amount and accumulated depreciation of the Company’s real estate assets as of September 30, 2022 and December 31, 2021 are as follows, excluding the one asset held for sale (in thousands): September 30, December 31, Land and land improvements $ 136,229 $ 131,312 Building and building improvements 1,494,189 1,486,630 Furniture, fixtures and equipment 102,077 101,063 Less: accumulated depreciation (412,020) (380,149) Real estate investment properties, net $ 1,320,475 $ 1,338,856

Indebtedness (Tables)

Indebtedness (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Details of Indebtedness, Excluding Indebtedness Associated with Assets Held for Sale	The following table provides details of the Company's indebtedness as of September 30, 2022 and December 31, 2021 (in thousands): As of September 30, As of December 31, 2022 2021 Mortgages payable and other notes payable: Fixed rate debt (1) $ 44,287 $ 89,766 Variable rate debt (1)(2) 18,012 — Premium (3) 28 59 Loan costs, net (206) (425) Total mortgages and other notes payable, net 62,121 89,400 Credit facilities: Revolving Credit Facility (4)(5)(6) 133,000 88,000 Term Loan Facility (4)(6) 265,000 265,000 2021 Term Loan Facility (4)(6) 150,000 150,000 Loan costs, net related to Term Loan Facilities (2,241) (3,272) Total credit facilities, net 545,759 499,728 Total indebtedness, net $ 607,880 $ 589,128 8. Indebtedness (continued) _____________ FOOTNOTES: (1) As of September 30, 2022 and December 31, 2021, the Company’s mortgages and other notes payable are collateralized by seven properties, with total carrying value of approximately $93.3 million and $135.4 million, respectively. (2) In connection with the acquisition of the 25% interest in the Windsor Manor Joint Venture, the Company consolidated the net assets of the joint venture effective January 1, 2022, including the debt associated with the properties, at fair value. The debt collateralized by the five Windsor Manor properties pays interest at a rate of 2.50% plus 30-day LIBOR and matures in February 2024. The 30-day LIBOR was approxima tely 3.14% as of September 30, 2022. (3) Premium is reflective of the Company recording mortgage note payables assumed at fair value on the respective acquisition dates. (4) As of September 30, 2022 and December 31, 2021, the Company had entered into interest rate caps with notional amounts of approximately $355.0 million. (5) As of September 30, 2022 and December 31, 2021, the Company had undrawn availability under the applicable revolving credit facility of approximately $117.0 million and $14.1 million, respectively, based on the value of the properties in the unencumbered pool of assets supporting the loan. (6) Term SOFR (as defined in the Credit Facilities agreement) was approximately 3.14% a s of September 30, 2022. The 30-day LIBOR was approxima tely
Schedule of Maturities of Indebtedness	The following is a schedule of future principal payments for the Company’s total indebtedness for the remainder of 2022, each of the next four years and thereafter, in the aggregate, as of September 30, 2022 (in thousands): 2022 $ 358 2023 157,054 2024 452,887 2025 — 2026 — Thereafter — $ 610,299
Schedule of Fair Market Value and Carrying Value of Indebtedness	The following table provides the details of the fair market value and carrying value of the Company’s indebtedness as of September 30, 2022 and December 31, 2021 (in millions): September 30, 2022 December 31, 2021 Fair Value Carrying Value Fair Value Carrying Value Mortgages and other notes payable, net $ 61.0 $ 62.1 $ 90.4 $ 89.4 Credit facilities, net $ 548.0 $ 545.8 $ 503.0 $ 499.7

Related Party Arrangements (Tab

Related Party Arrangements (Tables)	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Schedule of Fees, Reimbursable Expenses and Related Amounts Unpaid to Related Parties	The expenses and fees incurred by and reimbursable to the Company’s related parties, including amounts included in income from discontinued operations, for the quarter and nine months ended September 30, 2022 and 2021, and related amounts unpaid as of September 30, 2022 and December 31, 2021 are as follows (in thousands): Quarter Ended Nine Months Ended Unpaid amounts as of (1) September 30, September 30, September 30, 2022 December 31, 2021 2022 2021 2022 2021 Reimbursable expenses: Operating expenses (2) $ 835 $ 887 $ 2,390 $ 2,360 $ 230 $ 214 835 887 2,390 2,360 230 214 Investment services fee (3) — — 60 — — — Disposition fee (4) 127 — 195 — — — Financing coordination fees (5) — 1,500 — 1,500 — — Asset management fees (6) 3,496 3,575 10,598 12,165 1,159 1,192 $ 4,458 $ 5,962 $ 13,243 $ 16,025 $ 1,389 $ 1,406 9. Related Party Arrangements (continued) _______________ FOOTNOTES: (1) Amounts are recorded as due to related parties in the accompanying condensed consolidated balance sheets. (2) Amounts are recorded as general and administrative expenses in the accompanying condensed consolidated statements of operations unless such amounts represent prepaid expenses, which are capitalized in the accompanying condensed consolidated balance sheets. (3) For the nine months ended September 30, 2022, the Company incurred approximately $0.1 million in investment services fees, all of which was capitalized and included in real estate assets, net in the accompanying condensed consolidated balance sheets. For the quarter and nine months ended September 30, 2021, the Company did not incur any investment services fees. (4) Amounts are recorded as a reduction to gain on sale of real estate in the accompanying condensed consolidated statements of operations. Effective May 26, 2021, the disposition fee was reduced from 1.0% to 0.80% of the gross market capitalization of the Company upon the occurrence of a listing on a national securities exchange, or of the gross consideration paid to the Company or its stockholders upon the occurrence of any other liquidity event of the Company (including the sale of the Company or a portion thereof), or of the gross sales price upon the sale or transfer of one or more of its properties. (5) For the quarter and nine months ended September 30, 2021, the Company incurred financing coordination fees of approximately $1.5 million related to the 2021 Term Loan Facility, all of which were capitalized as loan costs and reflected in mortgages and other notes payable, net in the accompanying condensed consolidated balance sheets.

Organization - Additional Infor

Organization - Additional Information (Detail)	1 Months Ended	9 Months Ended	12 Months Ended
	Jan. 31, 2018 Property	Sep. 30, 2022 Property Agreement State	Dec. 31, 2021 Properties
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Number of properties sold | Properties			69
MOB/Healthcare Portfolio
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Number of properties	70
Investment Portfolio
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Number of properties		70
Number of states | State		26
Number of seniors housing properties		69
Investment Portfolio | Vacant Land Parcel
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Number of properties | Agreement		1

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($) Subsidiary	Sep. 30, 2021 USD ($)
Provider Relief Fund | COVID19
Summary Of Significant Accounting Policies [Line Items]
Grant Income Received From P R F H S | $	$ 3.9	$ 0.4
VIEs
Summary Of Significant Accounting Policies [Line Items]
Number of subsidiaries | Subsidiary	2

Revenue - Summary of Disaggrega

Revenue - Summary of Disaggregation of Revenue (Detail) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) Facility	Sep. 30, 2021 USD ($) Facility	Sep. 30, 2022 USD ($) Facility	Sep. 30, 2021 USD ($) Facility
Disaggregation Of Revenue [Line Items]
Number of Units | Facility	6,196	6,107	6,196	6,107
Resident fees and services | $	$ 74,824	$ 66,446	$ 220,888	$ 197,123
Percentage of revenues	100%	100%	100%	100%
Independent Living
Disaggregation Of Revenue [Line Items]
Number of Units | Facility	2,223	2,256	2,223	2,256
Resident fees and services | $	$ 18,700	$ 17,700	$ 55,100	$ 51,900
Percentage of revenues	25%	26.70%	24.90%	26.30%
Assisted Living
Disaggregation Of Revenue [Line Items]
Number of Units | Facility	3,041	2,947	3,041	2,947
Resident fees and services | $	$ 37,300	$ 32,100	$ 109,500	$ 95,500
Percentage of revenues	49.90%	48.30%	49.70%	48.50%
Memory Care
Disaggregation Of Revenue [Line Items]
Number of Units | Facility	932	904	932	904
Resident fees and services | $	$ 15,100	$ 13,200	$ 45,600	$ 39,800
Percentage of revenues	20.20%	19.90%	20.60%	20.20%
Other Revenues
Disaggregation Of Revenue [Line Items]
Number of Units | Facility	0	0	0	0
Resident fees and services | $	$ 3,700	$ 3,400	$ 10,700	$ 9,900
Percentage of revenues	4.90%	5.10%	4.80%	5%

Acquisition (Additional Informa

Acquisition (Additional Information) (Details) - USD ($) $ in Thousands		9 Months Ended
	Jan. 01, 2022	Sep. 30, 2022	Dec. 31, 2021
Windsor Manor Joint Venture
Business Acquisition [Line Items]
Percentage of controlling interest		100%
Windsor Manor Joint Venture
Business Acquisition [Line Items]
Percentage interest in an unconsolidated joint venture	25%		75%
Cost of acquisition	$ 3,300
Goodwill		$ 0
Gain on change of control of interests		$ 8,400

Acquisition - Schedule of the F

Acquisition - Schedule of the Fair Value of the Assets Acquired and Liabilities Assumed (Details) - Windsor Manor Joint Venture $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Business Acquisition [Line Items]
Equity method investment in unconsolidated joint venture	$ 4,737
Consideration paid for additional 25% interest in joint venture	3,310
Total equity method investment and consideration paid	8,047
Cash	2,097
Restricted cash	79
Prepaid and other assets	64
Real estate assets	29,384
Intangibles	4,281
Total assets acquired	35,905
Accounts payable and accrued expenses	(953)
Other liabilities	(61)
Mortgages and notes payable	(18,468)
Total liabilities assumed	(19,482)
Net assets acquired	$ 16,423

Acquisition - Schedule of the_2

Acquisition - Schedule of the Fair Value of the Assets Acquired and Liabilities Assumed (Parenthetical) (Details) - Windsor Manor Joint Venture	9 Months Ended
	Sep. 30, 2022	Jan. 01, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Percentage interest in an unconsolidated joint venture		25%	75%
The weighted-average amortization period on the lease intangibles	1 year 3 months 18 days

Real Estate Assets, Net - Sched

Real Estate Assets, Net - Schedule of Real Estate Investment Properties Excluding Assets Held For Sale (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Real Estate [Abstract]
Land and land improvements	$ 136,229	$ 131,312
Building and building improvements	1,494,189	1,486,630
Furniture, fixtures and equipment	102,077	101,063
Less: accumulated depreciation	(412,020)	(380,149)
Real estate investment properties, net	$ 1,320,475	$ 1,338,856

Real Estate Assets, Net - Addit

Real Estate Assets, Net - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Aug. 31, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Real Estate [Line Items]
Depreciation expense		$ 12,400	$ 12,500	$ 38,200	$ 37,300
Fieldstone Sale
Real Estate [Line Items]
Gain on sale of property	$ 6,300
Gain (loss) on sale of properties, attributable to stakeholders	5,400
Disposition expense	$ 100

Asset Held For Sale and Disco_2

Asset Held For Sale and Discontinued Operations - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Apr. 30, 2022	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Net sales proceeds	$ 8,300
Loss From Discontinued Operations		$ 10

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Detail) $ in Thousands	1 Months Ended	9 Months Ended		12 Months Ended
	Aug. 31, 2022 USD ($)	Sep. 30, 2022 USD ($) Subsidiary	Sep. 30, 2021 USD ($)	Dec. 31, 2021 Subsidiary
Variable Interest Entity [Line Items]
Net proceeds from sale of property		$ 36,655	$ 0
Sale proceeds to noncontrolling interests		2,134	$ 160
Maximum exposure to loss VIEs limits		$ 9,300
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Number of subsidiaries | Subsidiary		2
Variable Interest Entity, Primary Beneficiary | Joint Ventures Real Estate Under Development Entities
Variable Interest Entity [Line Items]
Number of subsidiaries | Subsidiary		2		2
Net proceeds from sale of property	$ 16,000
Sale proceeds to noncontrolling interests	$ 2,000

Indebtedness - Details of Indeb

Indebtedness - Details of Indebtedness, Excluding Indebtedness Associated with Assets Held for Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Premium	$ 28	$ 59
Total mortgages and other notes payable, net	62,121	89,400
Credit facilities	545,759	499,728
Total credit facilities, net	545,759	499,728
Notes And Loans Payable Net	607,880	589,128
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facilities	133,000	88,000
Term Loan Facility
Debt Instrument [Line Items]
Loan costs, net	(2,241)	(3,272)
Credit facilities	265,000	265,000
2021 Term Loan Facility
Debt Instrument [Line Items]
Credit facilities	150,000	150,000
Mortgages Payable And Other Notes Payable
Debt Instrument [Line Items]
Loan costs, net	(206)	(425)
Fixed Interest Rate
Debt Instrument [Line Items]
Mortgages payable and other notes payable	44,287	89,766
Variable Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable	$ 18,012	$ 0

Indebtedness - Details of Ind_2

Indebtedness - Details of Indebtedness, Excluding Indebtedness Associated with Assets Held for Sale (Parenthetical) (Detail) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022 USD ($) Properties	Dec. 31, 2021 USD ($) Properties
Debt Instrument [Line Items]
Debt instrument interest rate during period	2.50%
Notional amounts of derivative contract	$ 355	$ 355
Windsor Manor Joint Venture Ownership Interest
Debt Instrument [Line Items]
Number of collateralized properties owned | Properties	5
Interest paid	25%
LIBOR
Debt Instrument [Line Items]
Debt instrument interest rate during period	3.14%	0.10%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt instrument interest rate during period	3.14%
Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, current borrowing capacity	$ 117	$ 14.1
Secured Debt
Debt Instrument [Line Items]
Number of collateralized properties owned | Properties	7	7
Mortgages and other notes payable carrying value of collateral	$ 93.3	$ 135.4

Indebtedness - Additional Infor

Indebtedness - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Jun. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Line of Credit Facility [Line Items]
Refinanced secured indebtedness	$ 44,500
Liquidity		$ 211,700
Credit facilities		$ 545,759	$ 499,728
Maximum allowable distributions as a percentage of adjusted FFO		95%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit facilities		$ 133,000	$ 88,000
Long term line of credit, extension option		1 year

Indebtedness - Schedule of Matu

Indebtedness - Schedule of Maturities of Indebtedness (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Debt Disclosure [Abstract]
2022	$ 358
2023	157,054
2024	452,887
2025	0
2026	0
Thereafter	0
Long-term Debt, Total	$ 610,299

Indebtedness - Schedule of Fair

Indebtedness - Schedule of Fair Market Value and Carrying Value of Indebtedness (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Carrying Value	$ 610,299
Mortgages and other notes payable, net
Debt Instrument [Line Items]
Fair Value	61,000	$ 90,400
Carrying Value	62,100	89,400
Credit facilities
Debt Instrument [Line Items]
Fair Value	548,000	503,000
Carrying Value	$ 545,800	$ 499,700

Related Party Arrangements - Ad

Related Party Arrangements - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Related Party Transaction [Line Items]
Cash distributions on restricted stock			$ 13,360	$ 26,720
Expense Support Agreements | Restricted Stock
Related Party Transaction [Line Items]
Cash distributions on restricted stock	$ 30	$ 70	$ 100	$ 200

Related Party Arrangements - Sc

Related Party Arrangements - Schedule of Fees, Reimbursable Expenses and Related Amounts Unpaid to Related Parties (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Related Party Transactions [Abstract]
Operating expenses	$ 835	$ 887	$ 2,390	$ 2,360
Total reimbursable expenses	835	887	2,390	2,360
Investment services fee	0	0	60	0
Disposition fee	127	0	195	0
Financing coordination fees	0	1,500	0	1,500
Asset management fees	3,496	3,575	10,598	12,165
Total reimbursable expenses, net	4,458	$ 5,962	13,243	$ 16,025
Operating expenses, unpaid	230		230		$ 214
Total reimbursable expenses	230		230		214
Investment services fees unpaid	0		0		0
Disposition fees, unpaid	0		0		0
Financing coordination fees, unpaid	0		0		0
Asset management fees, unpaid	1,159		1,159		1,192
Total related amount unpaid	$ 1,389		$ 1,389		$ 1,406

Related Party Arrangements - _2

Related Party Arrangements - Schedule of Fees, Reimbursable Expenses and Related Amounts Unpaid to Related Parties (Parenthetical) (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	May 26, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Related Party Transaction [Line Items]
Investment services fees			$ 0	$ 100	$ 0
Financing coordination fees		$ 0	$ (1,500)	$ 0	$ (1,500)
Maximum
Related Party Transaction [Line Items]
Percentage of disposition fee	1%
Percentage of asset management fee	1%
Minimum
Related Party Transaction [Line Items]
Percentage of disposition fee	0.80%
Percentage of asset management fee	0.80%

Equity - Additional Information

Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Mar. 31, 2022
Equity [Abstract]
Distribution per share					$ 0.0256
Cash distribution declared	$ 4,454	$ 8,907	$ 13,360	$ 26,720

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income tax (expense) benefit	$ (71)	$ 1,502	$ (221)	$ 3,861
Income tax expense, change in deferred tax asset		1,600		4,300
Current income tax expense	$ (100)	$ (100)	$ (200)	$ (400)

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) shares in Millions	9 Months Ended
	Sep. 30, 2022 Agreement shares
Commitments And Contingencies [Line Items]
Number of promoted interest agreements	1
Number of promoted interest agreements met established performance metrics	0
Advisor Expense Support Agreement | Restricted Stock
Commitments And Contingencies [Line Items]
Contingently issuable restricted stock shares | shares	1.3