Omega Healthcare Investors (OHI) 10-Q 3 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	Apr. 30, 2024
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity Registrant Name	OMEGA HEALTHCARE INVESTORS, INC.
Entity Incorporation, State or Country Code	MD
Entity File Number	1-11316
Entity Tax Identification Number	38-3041398
Entity Address, Address Line One	303 International Circle, Suite 200
Entity Address, City or Town	Hunt Valley
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	21030
City Area Code	410
Local Phone Number	427-1700
Title of 12(b) Security	Common Stock
Trading Symbol	OHI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Shares Outstanding		247,098,960
Amendment Flag	false
Entity Central Index Key	0000888491
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Real estate assets
Buildings and improvements	$ 6,866,358	$ 6,879,034
Land	865,028	867,486
Furniture and equipment	467,178	467,393
Construction in progress	162,269	138,410
Total real estate assets	8,360,833	8,352,323
Less accumulated depreciation	(2,526,536)	(2,464,227)
Real estate assets - net	5,834,297	5,888,096
Investments in direct financing leases - net	8,873	8,716
Real estate loans receivable - net	1,246,528	1,212,162
Investments in unconsolidated joint ventures	185,937	188,409
Assets held for sale	81,546	81,546
Total real estate investments	7,357,181	7,378,929
Non-real estate loans receivable - net	269,342	275,615
Total investments	7,626,523	7,654,544
Cash and cash equivalents	361,773	442,810
Restricted cash	1,253	1,920
Contractual receivables - net	10,973	11,888
Other receivables and lease inducements	223,281	214,657
Goodwill	643,778	643,897
Other assets	144,267	147,686
Total assets	9,011,848	9,117,402
LIABILITIES AND EQUITY
Revolving credit facility	20,213	20,397
Secured borrowings	20,145	61,963
Senior notes and other unsecured borrowings - net	4,987,794	4,984,956
Accrued expenses and other liabilities	283,103	287,795
Total liabilities	5,311,255	5,355,111
Preferred stock $1.00 par value authorized - 20,000 shares, issued and outstanding - none
Common stock $0.10 par value authorized - 350,000 shares, issued and outstanding - 246,377 shares as of March 31, 2024 and 245,282 shares as of December 31, 2023	24,637	24,528
Additional paid-in capital	6,705,333	6,671,198
Cumulative net earnings	3,747,942	3,680,581
Cumulative dividends paid	(6,995,876)	(6,831,061)
Accumulated other comprehensive income	31,852	29,338
Total stockholders' equity	3,513,888	3,574,584
Noncontrolling interest	186,705	187,707
Total equity	3,700,593	3,762,291
Total liabilities and equity	$ 9,011,848	$ 9,117,402

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Statement Of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized	350,000,000	350,000,000
Common stock, shares issued	246,377,000	245,282,000
Common stock, shares outstanding	246,377,000	245,282,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues
Rental income	$ 206,921	$ 189,331
Interest income	35,836	28,420
Miscellaneous income	542	451
Total revenues	243,299	218,202
Expenses
Depreciation and amortization	74,557	81,192
General and administrative	21,532	20,526
Real estate taxes	3,798	3,997
Acquisition, merger and transition related costs	2,603	639
Impairment on real estate properties	5,292	38,988
Provision (recovery) for credit losses	8,470	(4,057)
Interest expense	57,820	58,546
Total expenses	174,072	199,831
Other income (expense)
Other income - net	5,276	2,720
Loss on debt extinguishment	(1,283)	(6)
(Loss) gain on assets sold - net	(1,391)	13,637
Total other income	2,602	16,351
Income before income tax (expense) benefit and income from unconsolidated joint ventures	71,829	34,722
Income tax (expense) benefit	(2,581)	1,292
Income from unconsolidated joint ventures	98	831
Net income	69,346	36,845
Net income attributable to noncontrolling interest	(1,985)	(903)
Net income available to common stockholders	$ 67,361	$ 35,942
Basic:
Net income available to common stockholders	$ 0.27	$ 0.15
Diluted:
Net income available to common stockholders	$ 0.27	$ 0.15

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 69,346	$ 36,845
Other comprehensive income (loss)
Foreign currency translation	(4,288)	10,793
Cash flow hedges	6,877	(9,550)
Total other comprehensive income	2,589	1,243
Comprehensive income	71,935	38,088
Comprehensive income attributable to noncontrolling interest	(2,060)	(938)
Comprehensive income attributable to common stockholders	$ 69,875	$ 37,150

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total Stockholders' Equity [Member]	Common Stock Par Value	Additional Paid-in Capital	Cumulative Net Earnings [Member]	Cumulative Dividends	AOCI Including Portion Attributable to Noncontrolling Interest [Member]	Noncontrolling Interest [Member]	Total
Beginning balance at Dec. 31, 2022	$ 3,609,368	$ 23,425	$ 6,314,203	$ 3,438,401	$ (6,186,986)	$ 20,325	$ 193,914	$ 3,803,282
Increase (Decrease) In Stockholders' Equity [Roll Forward]
Stock related compensation	8,792		8,792					8,792
Issuance of common stock	1,985	9	1,976					1,985
Common dividends declared	(157,427)				(157,427)			(157,427)
Vesting/exercising of Omega OP Units	(2,811)		(2,811)				2,811
Omega OP Units distributions							(9,131)	(9,131)
Capital contribution from noncontrolling interest holder in consolidated JV							22	22
Other comprehensive income	1,208					1,208	35	1,243
Net income	35,942			35,942			903	36,845
Balance ending at Mar. 31, 2023	3,497,057	23,434	6,322,160	3,474,343	(6,344,413)	21,533	188,554	3,685,611
Beginning balance at Dec. 31, 2023	3,574,584	24,528	6,671,198	3,680,581	(6,831,061)	29,338	187,707	3,762,291
Increase (Decrease) In Stockholders' Equity [Roll Forward]
Stock related compensation	9,284		9,284					9,284
Issuance of common stock	32,350	108	32,242					32,350
Common dividends declared	(164,815)				(164,815)			(164,815)
Vesting/exercising of Omega OP Units	(7,722)		(7,722)				7,722
Conversion and redemption of Omega OP Units to common stock	332	1	331				(332)
Omega OP Units distributions							(10,452)	(10,452)
Other comprehensive income	2,514					2,514	75	2,589
Net income	67,361			67,361			1,985	69,346
Balance ending at Mar. 31, 2024	$ 3,513,888	$ 24,637	$ 6,705,333	$ 3,747,942	$ (6,995,876)	$ 31,852	$ 186,705	$ 3,700,593

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parentheticals) - $ / shares	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Increase (Decrease) In Stockholders' Equity [Roll Forward]
Dividend per Common Share	$ 0.67	$ 0.67	$ 0.67

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities
Net income	$ 69,346	$ 36,845
Adjustment to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	74,557	81,192
Impairment on real estate properties	5,292	38,988
Provision for rental income		12,500
Provision (recovery) for credit losses	8,470	(4,057)
Amortization of deferred financing costs and loss on debt extinguishment	4,959	3,259
Accretion of direct financing leases	34	26
Stock-based compensation expense	9,227	8,744
Loss (gain) on assets sold - net	1,391	(13,637)
Amortization of acquired in-place leases - net	(531)	(6,131)
Straight-line rent and effective interest receivables	(9,201)	(12,576)
Interest paid-in-kind	(3,575)	(2,555)
Loss from unconsolidated joint ventures	827	137
Change in operating assets and liabilities - net:
Contractual receivables	915	180
Lease inducements	233	(12,323)
Other operating assets and liabilities	(10,470)	(19,232)
Net cash provided by operating activities	151,474	111,360
Cash flows from investing activities
Acquisition of real estate	(13,262)	(26,383)
Net proceeds from sale of real estate investments	10,089	17,559
Investments in construction in progress	(14,506)	(4,780)
Placement of loan principal	(48,113)	(31,240)
Collection of loan principal	14,342	52,011
Investments in unconsolidated joint ventures	(61)
Distributions from unconsolidated joint ventures in excess of earnings	942	382
Capital improvements to real estate investments	(6,941)	(5,340)
Proceeds from net investment hedges	8,429
Receipts from insurance proceeds	1,627	448
Net cash (used in) provided by investing activities	(47,454)	2,657
Cash flows from financing activities
Payments of long-term borrowings	(41,878)	(1,913)
Payments of financing related costs	(1,283)	(6)
Net proceeds from issuance of common stock	32,350	1,985
Dividends paid	(164,758)	(157,379)
Net payments to noncontrolling members of consolidated joint venture		22
Distributions to Omega OP Unit Holders	(10,452)	(9,131)
Net cash used in financing activities	(186,021)	(166,422)
Effect of foreign currency translation on cash, cash equivalents and restricted cash	297	279
Decrease in cash, cash equivalents and restricted cash	(81,704)	(52,126)
Cash, cash equivalents and restricted cash at beginning of period	444,730	300,644
Cash, cash equivalents and restricted cash at end of period	$ 363,026	$ 248,518

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2024
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Business Overview and Organization Omega Healthcare Investors, Inc. (“Parent”) is a Maryland corporation that, together with its consolidated subsidiaries (collectively, “Omega,” the “Company,” “we,” “our” or “us”) invests in healthcare-related real estate properties located in the United States (“U.S.”) and the United Kingdom (“U.K.”). Our core business is to provide financing and capital to the long-term healthcare industry with a particular focus on skilled nursing facilities (“SNFs”), assisted living facilities (“ALFs”), and to a lesser extent, independent living facilities (“ILFs”), rehabilitation and acute care facilities (“specialty facilities”) and medical office buildings. Our core portfolio consists of long-term “triple net” leases and real estate loans with healthcare operating companies and affiliates (collectively, our “operators”). In addition to our core investments, we make loans to operators and/or their principals. From time to time, we also acquire equity interests in joint ventures or entities that support the long-term healthcare industry and our operators. Omega has elected to be taxed as a real estate investment trust (“REIT”) for federal income tax purposes and is structured as an umbrella partnership REIT (“UPREIT”) under which all of Omega’s assets are owned directly or indirectly by, and all of Omega’s operations are conducted directly or indirectly through, its operating partnership subsidiary, OHI Healthcare Properties Limited Partnership (collectively with its subsidiaries, “Omega OP”). Omega has exclusive control over Omega OP’s day-to-day management pursuant to the partnership agreement governing Omega OP. As of March 31, 2024, Parent owned 97% of the issued and outstanding units of partnership interest in Omega OP (“Omega OP Units”), and other investors owned 3% of the outstanding Omega OP Units. Basis of Presentation and Principles of Consolidation The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all the information and notes required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements. In our opinion, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The results of operations for the interim periods reported herein are not necessarily indicative of results to be expected for the full year. These unaudited consolidated financial statements should be read in conjunction with the financial statements and the footnotes thereto included in our Annual Report on Form 10-K Omega’s consolidated financial statements include the accounts of Omega Healthcare Investors, Inc., its wholly-owned subsidiaries and the joint ventures (“JVs”) and variable interest entities (“VIEs”) that it controls, through voting rights or other means. All intercompany transactions and balances have been eliminated in consolidation. Segments We conduct our operations and report financial results as one business segment. The presentation of financial results as one reportable segment is consistent with the way we operate our business and is consistent with the manner in which our Chief Operating Decision Maker (CODM), our Chief Executive Officer, evaluates performance and makes resource and operating decisions for the business. Reclassification Certain amounts in the prior year period have been reclassified to conform to the current period presentation. Income from direct financing leases, which was previously reported separately on our Consolidated Statements of Operations, is now included in Rental Income for all periods presented. In addition, we previously reported assets held for sale of $93.7 million on the Consolidated Balance Sheet as of December 31, 2023. $12.2 million of these assets no longer qualify as held for sale and have been reclassified to assets held for use within the applicable line items in real estate assets – net on the Consolidated Balance Sheet as of December 31, 2023. See further discussion on the held for sale reclassification in Note 3 – Assets Held for Sale, Dispositions and Impairments.

REAL ESTATE ASSETS

REAL ESTATE ASSETS	3 Months Ended
	Mar. 31, 2024
REAL ESTATE ASSETS [Abstract]
REAL ESTATE ASSETS	NOTE 2 – REAL ESTATE ASSETS ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2024 ​ 2023 ​ ​ (in thousands) Fixed income from operating leases ​ $ 203,292 ​ $ 185,327 Variable income from operating leases ​ ​ 3,377 ​ ​ 3,750 Interest income from direct financing leases ​ ​ 252 ​ ​ 254 Total rental income ​ $ 206,921 ​ $ 189,331 ​ Our variable income from operating leases primarily represents the reimbursement by operators for real estate taxes that Omega pays directly. Asset Acquisitions The following table summarizes the asset acquisitions that occurred during the three months ended March 31, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of ​ ​ ​ Total Real Estate ​ Initial ​ ​ Facilities ​ Assets Acquired Annual ​ Period ​ SNF ALF ​ Country/State ​ (in millions) ​ Cash Yield (1) ​ Q1 ​ 1 — WV ​ $ 8.1 ​ 10.0 % Q1 ​ — 1 ​ U.K. ​ ​ 5.2 ​ 9.5 % Total 1 1 ​ ​ $ 13.3 ​ ​ (1) Initial annual cash yield reflects the initial annual contractual cash rent divided by the purchase price. Construction in Progress and Capital Expenditure Investments We invested $21.4 million and $10.1 million under our construction in progress and capital improvement programs during the three months ended March 31, 2024 and 2023, respectively. As of March 31, 2024, construction in progress included two projects consisting of the development of a SNF in Virginia and an ALF in Washington D.C.

ASSETS HELD FOR SALE, DISPOSITI

ASSETS HELD FOR SALE, DISPOSITIONS AND IMPAIRMENTS	3 Months Ended
	Mar. 31, 2024
ASSETS HELD FOR SALE, DISPOSITIONS AND IMPAIRMENTS [Abstract]
ASSETS HELD FOR SALE, DISPOSITIONS AND IMPAIRMENTS	NOTE 3 – ASSETS HELD FOR SALE, DISPOSITIONS AND IMPAIRMENTS Periodically we sell facilities to reduce our exposure to certain operators, geographies and non-strategic assets or due to the exercise of a tenant purchase option. The following is a summary of our assets held for sale: ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2024 2023 Number of facilities held for sale ​ 16 ​ ​ 16 Amount of assets held for sale (in thousands) $ 81,546 ​ $ 81,546 ​ In the first quarter of 2024, we reclassified one facility with a net book value of $12.2 million from assets held for sale to assets held for use within the applicable line items in real estate assets – net. Of the $12.2 million reclassified net of $5.4 million of accumulated depreciation, $15.9 million relates to buildings, $0.6 million relates to land and $1.1 relates to furniture and equipment. We originally reclassified this facility as held for sale in the fourth quarter of 2023 as a result of receiving a notification from an operator of their intent to exercise a purchase option over the facility. Due to regulatory issues encountered in the first quarter of 2024 during the due diligence process that limit our ability to sell this facility, this facility no longer qualifies as an asset held for sale. Asset Sales During the three months ended March 31, 2024, we sold four facilities (four SNFs) subject to operating leases for $10.1 million in net cash proceeds. As a result of these sales, we recognized a net loss of $1.4 million. During the three months ended March 31, 2023, we sold two facilities (one SNF and one medical office building) subject to operating leases for $17.6 million in net cash proceeds. As a result of these sales, we recognized a net gain of $13.6 million. During the three months ended March 31, 2024 and 2023, we received interest of $0.3 million and $2.1 million, respectively, related to seller financing provided in connection with sales that did not meet the contract criteria to be recognized under ASC 610-20. The interest received was deferred and recorded as a contract liability within accrued expenses and other liabilities on our Consolidated Balance Sheets. As of March 31, 2024, we have one sale that has not been recognized. Real Estate Impairments During the three months ended March 31, 2024, we recorded impairments of $5.3 million on three facilities. The $5.3 million relates to three held for use facilities (of which $1.3 million relates to a closed facility) for which the carrying value exceeded the fair value. During the three months ended March 31, 2023, we recorded impairments of $39.0 million on four facilities. Of the $39.0 million, $37.0 million related to two facilities that were classified as held for use for which the carrying value exceeded the fair value and $2.0 million related to two facilities that were classified as held for sale for which the carrying values exceeded the estimated fair value costs to sell. Of the $37.0 million, $27.5 million related to one held for use facility which was closed during the quarter. To estimate the fair value of the facilities for the impairments noted above, we utilized a market approach that considered binding sale agreements (a Level 1 input) or non-binding offers from unrelated third parties and/or broker quotes (a Level 3 input).

CONTRACTUAL RECEIVABLES AND OTH

CONTRACTUAL RECEIVABLES AND OTHER RECEIVABLES AND LEASE INDUCEMENTS	3 Months Ended
	Mar. 31, 2024
CONTRACTUAL RECEIVABLES AND OTHER RECEIVABLES AND LEASE INDUCEMENTS [Abstract]
CONTRACTUAL RECEIVABLES AND OTHER RECEIVABLES AND LEASE INDUCEMENTS	NOTE 4 – CONTRACTUAL RECEIVABLES AND OTHER RECEIVABLES AND LEASE INDUCEMENTS Contractual receivables relate to the amounts currently owed to us under the terms of our lease and loan agreements. Effective yield interest receivables relate to the difference between the interest income recognized on an effective yield basis over the term of the loan agreement and the interest currently due to us according to the contractual agreement. Straight-line rent receivables relate to the difference between the rental revenue recognized on a straight-line basis and the amounts currently due to us according to the contractual agreement. Lease inducements result from value provided by us to the lessee, at the inception, modification or renewal of the lease, and are amortized as a reduction of rental income over the non-cancellable lease term. A summary of our net receivables and lease inducements by type is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2024 2023 ​ ​ (in thousands) ​ Contractual receivables – net ​ $ 10,973 ​ $ 11,888 ​ ​ ​ ​ ​ ​ ​ ​ ​ Effective yield interest receivables ​ $ 2,363 ​ $ 3,127 ​ Straight-line rent receivables ​ 212,399 ​ 202,748 ​ Lease inducements ​ 8,519 ​ 8,782 ​ Other receivables and lease inducements ​ $ 223,281 ​ $ 214,657 ​ ​ Cash Basis Operators and Straight-Line Receivable Write-Offs We review our collectibility assumptions related to rental income from our operator leases on an ongoing basis. During the three months ended March 31, 2024, we entered into a lease with a new operator as part of the transition of facilities from another operator. As we had no previous relationship with this new operator and collection of substantially all contractual lease payments due from the new operator was not deemed probable, we placed the new operator We also did not have any straight-line receivable write-offs through rental income during either of the three months ended March 31, 2024 and 2023. As of March 31, 2024, we had 20 operators on a cash basis for revenue recognition, which represent 18.4% and 20.5% of our total revenues for the three months ended March 31, 2024 and 2023, respectively. Rent Deferrals and Application of Collateral During each of the three months ended March 31, 2024 and 2023, we allowed three and eight operators to defer $0.9 million and $24.4 million, respectively, of contractual rent and interest. The deferrals during the three months ended March 31, 2024 primarily related to Maplewood Senior Living (along with affiliates, “Maplewood”) ($0.7 million). During each of the three months ended March 31, 2024 and 2023, we received repayments of deferred rent from three operators of $0.5 million and $0.2 million, respectively. Additionally, we allowed four and three operators to apply collateral, such as security deposits or letters of credit, to contractual rent and interest during the three months ended March 31, 2024 and 2023, respectively. The total collateral applied to contractual rent and interest was $0.5 million and $5.2 million for the three months ended March 31, 2024 and 2023, respectively. Operator Collectibility Updates Maplewood In the first quarter of 2024, Maplewood paid $11.3 million of contractual rent, a short pay of $6.5 million of the $17.8 million (consisting of $17.3 million of contractual rent and $0.5 million of contractual interest) due under its lease and loan agreements. Maplewood initially short-paid the contractual rent amount due under its lease agreement during the second quarter of 2023 and has not made full contractual rent and interest payments since that time. Omega applied Maplewood’s $4.8 million security deposit to cover a portion of the rent that was short paid in 2023. As the security deposit was fully exhausted in the fourth quarter of 2023, we were unable to apply collateral to unpaid rent and interest in the first quarter of 2024. To address liquidity concerns, Omega entered into a comprehensive restructuring of Maplewood’s lease and loan agreements in the first quarter of 2023 that, among other things, fixed rent at $69.3 million per annum through December 2025 and provided Maplewood a one-time option termination fee of $12.5 million. Maplewood is on a cash basis of revenue recognition for lease purposes, and we recorded rental income of $11.3 million and $17.3 million for the three months ended March 31, 2024 and 2023, respectively, for the contractual rent payments that were received from Maplewood. The $12.5 million option termination fee payment made in the first quarter of 2023 in connection with the restructuring agreement was recorded as a reduction to the $17.3 million rental income recognized for the three months ended March 31, 2023. As discussed further in Note 5 – Real Estate Loans Receivable, we recorded interest income of $1.5 million on the secured revolving credit facility during the three months ended March 31, 2023, for the contractual interest payment we received from Maplewood related to December 2022, as the loan was placed on non-accrual status for interest recognition during the fourth quarter of 2022. No interest income was recorded during the three months ended March 31, 2024. In April 2024, Maplewood short-paid the contractual rent and interest amounts due under its lease and loan agreements by $2.2 million. LaVie In connection with the ongoing restructuring of our facilities operated by LaVie Care Centers, LLC (“LaVie”), in the first quarter of 2024, we sold two facilities and transitioned two facilities to another operator, all of which were previously subject to the master lease with LaVie. Concurrent with the sales and transitions, we amended the master lease agreement with LaVie to reduce monthly rent to $3.2 million. In the first quarter of 2024, LaVie paid $4.4 million of contractual rent, a short pay of $5.5 million of the $9.9 million due under its lease agreement. As LaVie is on a cash basis of revenue recognition for lease purposes, only the $4.4 million and $7.4 million of contractual rent payments that we received from LaVie were recorded as rental income during the three months ended March 31, 2024 and 2023, respectively. We did not recognize any interest income related to LaVie during the three months ended March 31, 2024 and 2023 as the two loans outstanding have payment-in-kind (“PIK”) interest and are on non-accrual status. In April 2024, LaVie paid $1.5 million of contractual rent, a short pay of $1.7 million of the $3.2 million due under its lease agreement. Guardian Consistent with the third and fourth quarter of 2023, Guardian Healthcare (“Guardian”) did not pay the contractual amounts due under its lease agreement in the first quarter of 2024. We recorded rental income of $0.1 million and $3.8 million related to our lease with Guardian for the three months ended March 31, 2024 and 2023, respectively. As Guardian is on a cash basis of revenue recognition, rental income for these periods was limited to the contractual rent payments that were received and/or collateral held by Omega that was applied to outstanding rent. Rental income for the three months ended March 31, 2024 included the application of $0.1 million of Guardian’s security deposit to fund a portion of the unpaid rent. In April 2024, we transitioned the remaining six facilities previously included in Guardian’s master lease to a new operator for minimum initial contractual rent of $5.5 million per annum with the potential to increase contractual rent up to $12.4 million dependent on revenue received by the operator. Agemo Agemo Holdings, LLC (“ Omega and Agemo in the first quarter of 2023, We did not recognize interest income on our loans with Agemo during the three months ended March 31, 2024 and 2023. See Note 6 – Non-Real Estate Loans Receivable for discussion regarding our loans and interest with Agemo. Other During the three months ended March 31, 2023, we re-leased 43 facilities that were previously subject to leases with three cash basis operators to other operators. Following the transition, we have no remaining relationships with these three cash basis operators. All of the operators that the 43 facilities were transitioned to have leases for which Omega is recognizing revenue on a straight-line basis. The aggregate initial contractual rent for the 43 facilities under these leases is $43.3 million per annum. In connection with the transition of certain of these facilities, in the first quarter of 2023, Omega made termination payments of $15.5 million that were recorded as initial direct costs related to the lease with the new operator. These termination payments are deferred and will be recognized within depreciation and amortization expense on a straight-line basis over the term of the master lease with the new operator.

REAL ESTATE LOANS RECEIVABLE

REAL ESTATE LOANS RECEIVABLE	3 Months Ended
	Mar. 31, 2024
REAL ESTATE LOANS RECEIVABLE [Abstract]
REAL ESTATE LOANS RECEIVABLE	NOTE 5 – REAL ESTATE LOANS RECEIVABLE Real estate loans consist of mortgage notes and other real estate loans which are primarily collateralized by a first, second or third mortgage lien or a leasehold mortgage on, or an assignment of the partnership interest in the related properties. As of March 31, 2024, our real estate loans receivable consists of 13 fixed rate mortgage notes on 62 long-term care facilities and 15 other real estate loans. The mortgage notes relate to facilities located in 11 states that are operated by 12 independent healthcare operating companies. We monitor compliance with our real estate loans and, when necessary, have initiated collection, foreclosure and other proceedings with respect to certain outstanding real estate loans. A summary of our real estate loans receivable by loan type and by borrower and/or guarantor is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2024 2023 ​ ​ (in thousands) ​ Mortgage notes due 2030; interest at 11.22% (1)(2) ​ $ 517,437 $ 514,866 ​ Mortgage notes due 2037; interest at 10.50% ​ ​ 72,420 ​ ​ 72,420 ​ Mortgage note due 2025; interest at 7.85% ​ ​ 61,533 ​ ​ 62,010 ​ Mortgage note due 2028; interest at 10.00% ​ ​ 50,000 ​ ​ 50,000 ​ Other mortgage notes outstanding (3) ​ 90,655 ​ 55,141 ​ Mortgage notes receivable – gross ​ 792,045 ​ 754,437 ​ Allowance for credit losses on mortgage notes receivable ​ ​ (48,164) ​ ​ (55,661) ​ Mortgage notes receivable – net ​ ​ 743,881 ​ ​ 698,776 ​ Other real estate loan due 2035; interest at 7.00% ​ ​ 263,580 ​ ​ 263,520 ​ Other real estate loans due 2024-2030; interest at 11.76% (1) ​ ​ 118,474 ​ ​ 120,576 ​ Other real estate loans due 2024; interest at 13.21% (1)(4) ​ ​ 109,011 ​ ​ 106,807 ​ Other real estate loans outstanding (5) ​ ​ 63,860 ​ ​ 57,812 ​ Other real estate loans – gross ​ ​ 554,925 ​ ​ 548,715 ​ Allowance for credit losses on other real estate loans ​ (52,278) ​ (35,329) ​ Other real estate loans – net ​ ​ 502,647 ​ ​ 513,386 ​ Total real estate loans receivable – net ​ $ 1,246,528 ​ $ 1,212,162 ​ (1) Approximates the weighted average interest rate on facilities as of March 31, 2024. (2) All mortgage notes mature in 2030 with the exception of two mortgage notes with an aggregate outstanding principal balance of $52.0 million that mature in 2024. (3) Other mortgage notes outstanding consists of nine loans to multiple borrowers that have a weighted average interest rate of 9.67% as of March 31, 2024, with maturity dates ranging from 2024 through 2027 (with $8.3 million maturing in 2024). Two of the mortgage notes with an aggregate principal balance of $12.9 million are past due and have been written down, through our allowance for credit losses, to the estimated fair value of the underlying collateral of $1.5 million. (4) During the first quarter of 2024, the maturity dates of these loans were extended from March 29, 2024 to June 28, 2024. (5) Other real estate loans outstanding consists of seven loans to multiple borrowers that have a weighted average interest rate of 10.88% as of March 31, 2024, with maturity dates ranging from 2027 through 2033 . Interest income on real estate loans is included within interest income on the Consolidated Statements of Operations and is summarized as follows: ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2024 2023 ​ (in thousands) Mortgage notes – interest income $ 19,843 $ 16,548 Other real estate loans – interest income 8,896 ​ 6,849 Total real estate loans interest income $ 28,739 ​ $ 23,397 ​ During the three months ended March 31, 2024, we funded $41.2 million under seven new real estate loans with a weighted average interest rate of 9.6%. These new loans have a weighted average term of 3.1 years. We also advanced $2.8 million under existing real estate loans during the three months ended March 31, 2024. Included below is additional discussion on any significant new loans issued and significant updates to any existing loans. Other real estate loan due 2035 In the first quarter of 2023, Omega entered into a restructuring agreement and a loan amendment with Maplewood that modified Maplewood’s secured revolving credit facility. As part of the restructuring agreement and loan amendment, Omega agreed to extend the maturity date of the facility to June 2035, increase the capacity of the secured revolving credit facility from $250.5 million to $320.0 million, including PIK interest applied to the principal, and convert the 7% cash interest due on the secured revolving credit facility to all PIK interest in 2023, with 1% cash interest and 6% PIK interest beginning in 2024, which increases to 4% cash interest and 3% PIK interest in 2025 and through the maturity date. The maximum PIK interest allowable under the credit facility, as amended, is $52.2 million. This amendment was treated as a loan modification provided to a borrower experiencing financial difficulty. During the first quarter of 2024, Maplewood failed to make cash interest payments of $0.5 million that were required under the loan agreement. Following the missed interest payments in the first quarter of 2024, we reviewed the characteristics associated with the loan and borrower and adjusted the internal risk rating on the loan, utilized as a component of our allowance for credit loss calculation, from a 4 to a 5 to reflect the increased risk associated with the loan. The Maplewood risk rating adjustment was the primary reason for the increase in the allowance for credit losses presented in Note 7 – Allowance for Credit Losses. Omega previously adjusted the internal risk rating on the Maplewood loan from a 3 to a 4 in the second quarter of 2023 when Maplewood began to short-pay contractual rent under its lease agreement. We are in discussions with Maplewood to amend the loan agreement. The revolving credit facility is secured by a leasehold mortgage on certain Maplewood facilities. Additionally, the principal on the revolving credit facility is required to be repaid prior to Maplewood receiving any share of residual profit as a result of a sale of the facilities subject to the Maplewood master lease. During the three months ended March 31, 2023, we recorded interest income of $1.5 million on the secured revolving credit facility for the contractual interest payment received related to December 2022, as the loan was placed on non-accrual status for interest recognition during the fourth quarter of 2022. We did not record any interest income related to the PIK interest during the three months ended March 31, 2024 and 2023. As of March 31, 2024, the amortized cost basis of this loan was $263.6 million, which represents 19.6% of the total amortized cost basis of all real estate loan receivables. As of March 31, 2024, the remaining commitment under the secured revolving credit facility, including the unrecognized PIK interest, was $33.9 million.

NON-REAL ESTATE LOANS RECEIVABL

NON-REAL ESTATE LOANS RECEIVABLE	3 Months Ended
	Mar. 31, 2024
NON-REAL ESTATE LOANS RECEIVABLE [Abstract]
NON-REAL ESTATE LOANS RECEIVABLE	NOTE 6 – NON-REAL ESTATE LOANS RECEIVABLE Our non-real estate loans consist of fixed and variable rate loans to operators or principals. These loans may be either unsecured or secured by the collateral of the borrower, which may include the working capital of the borrower. As of March 31, 2024, we had 45 loans with 22 different borrowers. A summary of our non-real estate loans by borrower and/or guarantor is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2024 2023 ​ ​ ​ (in thousands) ​ Notes due 2024-2029; interest at 11.20% (1) ​ $ 92,851 ​ $ 92,681 ​ Notes due 2036; interest at 5.63% ​ ​ 76,684 ​ 77,854 ​ Notes due 2024-2026; interest at 10.99% (1) ​ ​ 49,970 ​ ​ 53,300 ​ Note due 2025; interest at 7.83% (2) ​ ​ 44,249 ​ ​ 44,999 ​ Notes due 2036; interest at 2.00% ​ ​ 32,308 ​ ​ 32,308 ​ Other notes outstanding (3) ​ 94,224 ​ 96,104 ​ Non-real estate loans receivable – gross ​ ​ 390,286 ​ ​ 397,246 ​ Allowance for credit losses on non-real estate loans receivable ​ ​ (120,944) ​ ​ (121,631) ​ Total non-real estate loans receivable – net ​ $ 269,342 ​ $ 275,615 ​ (1) Approximates the weighted average interest rate as of March 31, 2024. (2) During the first quarter of 2024, this loan was amended to, among other items, extend the maturity date to December 31, 2025 , modify the mandatory principal payments required under the loan, reduce the maximum principal under the loan from $55.0 million to $45.0 million and increase the interest rate on borrowings in excess of $15.0 million to 8% in January 2024, with further interest rate increases to 9% and 10% in April 2024 and June 2024, respectively. The interest rate remains at 7.5% for borrowings that do not exceed $15.0 million. The interest rate above represents the weighted average interest rate as of March 31, 2024. (3) Other notes outstanding have a weighted average interest rate of 8.09% as of March 31, 2024, with maturity dates ranging from 2024 through 2030 (with $7.6 million maturing in 2024 ). Three of the other notes outstanding with an aggregate principal balance of $10.1 million are past due and have been written down to the estimated fair value of the underlying collateral of zero , through our allowance for credit losses. For the three months ended March 31, 2024 and 2023, non-real estate loans generated interest income of $7.1 million and $5.0 million, respectively. Interest income on non-real estate loans is included within interest income on the Consolidated Statements of Operations. During the three months ended March 31, 2024, we did not fund any new non-real estate loans. We advanced $4.1 million under existing working capital loans during the three months ended March 31, 2024. We received principal repayments of $6.9 million on existing non-real estate loans during the three months ended March 31, 2024. Included below is additional discussion on any significant new loans issued and/or significant updates to any existing loans. Notes due 2036 ; interest at 5.63% As discussed in Note 4 – Contractual Receivables and Other Receivables and Lease Inducements, in the first quarter of 2023, Omega entered into a restructuring agreement and a replacement loan agreement that modified the existing Agemo loans. The outstanding principal of the Agemo Term Loan was refinanced into a new $32.0 million loan (“Agemo Replacement Loan A”). The outstanding principal of the Agemo WC Loan and the aggregate rent deferred and outstanding under the Agemo lease agreement was combined and refinanced into a new $50.2 million loan (“Agemo Replacement Loan B” and with Agemo Replacement Loan A, the “Agemo Replacement Loans”). The Agemo Replacement Loans bear interest at 5.63% per annum through October 2024, which increases to 5.71% per annum until maturity. The Agemo Replacement Loans mature on December 31, 2036. These amendments were treated as loan modifications provided to a borrower experiencing financial difficulty. Agemo resumed making interest payments for the Agemo Replacement Loans in May 2023 in accordance with the terms of the restructuring agreement. The Agemo Replacement Loans are on non-accrual status, and we are utilizing the cost recovery method, under which any payments we receive are applied against the principal amount. During the three months ended March 31, 2024, we received $1.2 million of interest payments from Agemo that we applied against the outstanding principal of the loans, and we recognized a recovery for credit loss equal to the amount of payments applied against principal. As of March 31, 2024, the amortized cost basis of these loans was $76.7 million, which represents 19.6% of the total amortized cost basis of all non-real estate loan receivables. The total reserve as of March 31, 2024 related to the Agemo Replacement Loans was $71.5 million, which reserves the loan down to the fair value of the underlying collateral, consisting of a second lien on the accounts receivable of Agemo. Notes due 2036 ; interest at 2.00% We have two term loans with LaVie, an $8.3 million term loan and a $25.0 million term loan, that bear interest at 2% (which is all PIK interest) and mature on November 30, 2036. As of March 31, 2024, the amortized cost basis of these loans was $32.3 million, which represents 8.3% of the total amortized cost basis of all non-real estate loan receivables. The total reserve as of March 31, 2024 related to these loans was $28.7 million, which reserves the loan down to the fair value of the underlying collateral consisting of a second lien on the accounts receivable of the operator.

ALLOWANCE FOR CREDIT LOSSES

ALLOWANCE FOR CREDIT LOSSES	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
ALLOWANCE FOR CREDIT LOSSES	NOTE 7 – ALLOWANCE FOR CREDIT LOSSES A rollforward of our allowance for credit losses for the three months ended March 31, 2024 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Rating ​ Financial Statement Line Item Allowance for Credit Loss as of December 31, 2023 ​ Provision (Recovery) for Credit Loss for the three months ended March 31, 2024 (1) ​ Write-offs charged against allowance for the three months ended March 31, 2024 ​ Allowance for Credit Loss as of March 31, 2024 ​ ​ ​ (in thousands) 1 ​ Real estate loan receivable $ 1,501 ​ $ (193) ​ $ — ​ $ 1,308 2 ​ Real estate loans receivable ​ 291 ​ ​ 269 ​ ​ — ​ ​ 560 3 ​ Real estate loans receivable ​ 12,635 ​ ​ 1,056 ​ ​ — ​ ​ 13,691 4 ​ Real estate loans receivable ​ 65,113 ​ ​ (29,915) (2) ​ — ​ ​ 35,198 5 ​ Real estate loans receivable ​ — ​ ​ 38,235 (2) ​ — ​ ​ 38,235 6 ​ Real estate loans receivable ​ 11,450 ​ ​ — ​ ​ — ​ ​ 11,450 ​ ​ Sub-total ​ 90,990 ​ ​ 9,452 ​ ​ — ​ ​ 100,442 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5 ​ Investment in direct financing leases ​ 2,489 ​ ​ (191) ​ ​ — ​ ​ 2,298 ​ ​ Sub-total ​ 2,489 ​ ​ (191) ​ ​ — ​ ​ 2,298 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2 ​ Non-real estate loans receivable ​ 1,151 ​ ​ 191 ​ ​ — ​ ​ 1,342 3 ​ Non-real estate loans receivable ​ 3,903 ​ ​ 206 ​ ​ — ​ ​ 4,109 4 ​ Non-real estate loans receivable ​ 720 ​ ​ (110) ​ ​ — ​ ​ 610 5 ​ Non-real estate loans receivable ​ 43,404 ​ ​ 2,723 ​ ​ — ​ ​ 46,127 6 ​ Non-real estate loans receivable ​ 72,453 ​ ​ (605) ​ ​ (3,092) ​ ​ 68,756 ​ ​ Sub-total ​ 121,631 ​ ​ 2,405 (3) ​ (3,092) ​ ​ 120,944 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2 ​ Unfunded real estate loan commitments ​ 10 ​ ​ (5) ​ ​ — ​ ​ 5 3 ​ Unfunded real estate loan commitments ​ 335 ​ ​ 121 ​ ​ — ​ ​ 456 4 ​ Unfunded real estate loan commitments ​ 4,314 ​ ​ (4,239) ​ ​ — ​ ​ 75 5 ​ Unfunded real estate loan commitments ​ — ​ ​ 4,924 ​ ​ — ​ ​ 4,924 2 ​ Unfunded non-real estate loan commitments ​ 692 ​ ​ (112) ​ ​ — ​ ​ 580 3 ​ Unfunded non-real estate loan commitments ​ 46 ​ ​ (2) ​ ​ — ​ ​ 44 4 ​ Unfunded non-real estate loan commitments ​ 63 ​ ​ (21) ​ ​ — ​ ​ 42 5 ​ Unfunded non-real estate loan commitments ​ 1,594 ​ ​ (1,594) ​ ​ — ​ ​ — ​ ​ Sub-total ​ 7,054 ​ ​ (928) ​ ​ — ​ ​ 6,126 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ 222,164 ​ $ 10,738 ​ $ (3,092) ​ $ 229,810 ​ (1) During the three months ended March 31, 2024, we received proceeds of $2.3 million from the liquidating trust related to the $25.0 million senior unsecured debtor in possession facility to Gulf Coast Health Care LLC, which resulted in a recovery for credit losses of $2.3 million that is not included in the rollforward above since we had previously written-off the loan balance and related reserves. (2) Amount reflects the movement of reserves associated with Maplewood’s secured revolving credit facility due to an adjustment to the internal risk rating on the loan from a 4 to a 5 during the first quarter of 2024. See Note 5 – Real Estate Loans Receivable for additional information. (3) This amount includes cash recoveries of $1.2 million related to interest payments received on loans that are written down to fair value and are being accounted for under the cost recovery method in which any payments received are applied directly against the principal balance outstanding. This amount also includes $0.2 million related to principal payments received on loans that were fully reserved. A rollforward of our allowance for credit losses for the three months ended March 31, 2023 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Rating ​ Financial Statement Line Item Allowance for Credit Loss at December 31, 2022 ​ Provision (Recovery) for Credit Loss for the three months ended March 31, 2023 ​ Write-offs charged against allowance for the three months ended March 31, 2023 ​ Other additions to the allowance for the three months ended March 31, 2023 ​ Allowance for Credit Loss as of March 31, 2023 ​ ​ ​ (in thousands) 1 ​ Real estate loans receivable $ 162 ​ $ 351 ​ $ — ​ $ — ​ $ 513 2 ​ Real estate loans receivable ​ 157 ​ ​ (111) ​ ​ ​ ​ ​ — ​ ​ 46 3 ​ Real estate loans receivable ​ 15,110 ​ ​ (421) ​ ​ — ​ ​ — ​ ​ 14,689 4 ​ Real estate loans receivable ​ 33,666 ​ ​ (9,445) ​ ​ — ​ ​ — ​ ​ 24,221 6 ​ Real estate loans receivable ​ 52,265 ​ ​ (2,294) ​ ​ — ​ ​ — ​ ​ 49,971 ​ ​ Sub-total ​ 101,360 ​ ​ (11,920) ​ ​ — ​ ​ — ​ ​ 89,440 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5 ​ Investment in direct financing leases ​ 2,816 ​ ​ (193) ​ ​ — ​ ​ — ​ ​ 2,623 ​ ​ Sub-total ​ 2,816 ​ ​ (193) ​ ​ — ​ ​ — ​ ​ 2,623 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2 ​ Non-real estate loans receivable ​ 859 ​ ​ (567) ​ ​ — ​ ​ — ​ ​ 292 3 ​ Non-real estate loans receivable ​ 2,079 ​ ​ (1,727) ​ ​ — ​ ​ — ​ ​ 352 4 ​ Non-real estate loans receivable ​ 634 ​ ​ (361) ​ ​ — ​ ​ — ​ ​ 273 5 ​ Non-real estate loans receivable ​ 18,619 ​ ​ 66 ​ ​ — ​ ​ 25,200 (1) ​ 43,885 6 ​ Non-real estate loans receivable ​ 61,677 ​ ​ 8,086 ​ ​ — ​ ​ — ​ ​ 69,763 ​ ​ Sub-total ​ 83,868 ​ ​ 5,497 ​ ​ — ​ ​ 25,200 ​ ​ 114,565 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3 ​ Unfunded real estate loan commitments ​ — ​ ​ 2,660 ​ ​ — ​ ​ — ​ ​ 2,660 4 ​ Unfunded real estate loan commitments ​ 84 ​ ​ (62) ​ ​ — ​ ​ — ​ ​ 22 2 ​ Unfunded non-real estate loan commitments ​ 207 ​ ​ (96) ​ ​ — ​ ​ — ​ ​ 111 3 ​ Unfunded non-real estate loan commitments ​ 29 ​ ​ (23) ​ ​ — ​ ​ — ​ ​ 6 6 ​ Unfunded non-real estate loan commitments ​ — ​ ​ 80 ​ ​ — ​ ​ — ​ ​ 80 ​ ​ ​ ​ 320 ​ ​ 2,559 ​ ​ — ​ ​ — ​ ​ 2,879 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ 188,364 ​ $ (4,057) (2) $ — ​ $ 25,200 ​ $ 209,507 (1) This amount relates to the additional $25.2 million allowance recorded during the first quarter of 2023 to reserve the aggregate deferred rent amount that is included within Agemo Replacement Loan B. (2) The amount includes cash recoveries of $2.5 million related to interest payments received on loans that are written down to fair value and are being accounted for under the cost recovery method in which any payments received are applied directly against the principal balance outstanding. This amount also includes $0.4 million related to principal payments received on loans that were fully reserved. A summary of our amortized cost basis by year of origination and credit quality indicator is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Rating Financial Statement Line Item 2024 2023 2022 2021 2020 2019 2018 & older Revolving Loans Balance as of March 31, 2024 ​ ​ (in thousands) 1 Real estate loans receivable $ — $ — $ 20,000 $ — $ — $ — $ 61,533 $ — $ 81,533 2 Real estate loans receivable ​ 11,700 ​ 8,257 ​ — ​ — ​ 21,325 ​ — ​ — ​ — ​ 41,282 3 Real estate loans receivable ​ 23,257 ​ 172,393 ​ 30,600 ​ 72,420 ​ — ​ — ​ — ​ — ​ 298,670 4 Real estate loans receivable ​ 6,016 ​ 89,594 ​ — ​ 30,627 ​ 82,781 ​ — ​ 439,965 ​ — ​ 648,983 5 Real estate loans receivable ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ 263,580 ​ 263,580 6 Real estate loans receivable ​ — ​ — ​ — ​ — ​ — ​ — ​ 12,922 ​ — ​ 12,922 ​ Sub-total ​ 40,973 ​ 270,244 ​ 50,600 ​ 103,047 ​ 104,106 ​ — ​ 514,420 ​ 263,580 ​ 1,346,970 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5 Investment in direct financing leases ​ — ​ — ​ — ​ — ​ — ​ — ​ 11,171 ​ — ​ 11,171 ​ Sub-total ​ — ​ — ​ — ​ — ​ — ​ — ​ 11,171 ​ — ​ 11,171 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2 Non-real estate loans receivable ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ 114,398 ​ 114,398 3 Non-real estate loans receivable ​ — ​ 88,276 ​ 20,000 ​ — ​ — ​ 3,653 ​ 667 ​ 8,550 ​ 121,146 4 Non-real estate loans receivable ​ — ​ 1,105 ​ — ​ — ​ — ​ 667 ​ 1,000 ​ 26,033 ​ 28,805 5 Non-real estate loans receivable ​ — ​ 4,190 ​ — ​ — ​ — ​ 2,274 ​ 47,117 ​ — ​ 53,581 6 Non-real estate loans receivable ​ — ​ 5,924 ​ 24,457 ​ 7,851 ​ — ​ — ​ 29,567 ​ 4,557 ​ 72,356 ​ Sub-total ​ — ​ 99,495 ​ 44,457 ​ 7,851 ​ — ​ 6,594 ​ 78,351 ​ 153,538 ​ 390,286 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ 40,973 $ 369,739 $ 95,057 $ 110,898 $ 104,106 $ 6,594 $ 603,942 $ 417,118 $ 1,748,427 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year to date gross write-offs $ — $ — $ — $ — $ — $ — $ (3,092) $ — $ (3,092) ​ Interest Receivable on Real Estate Loans and Non-Real Estate Loans We have elected the practical expedient to exclude interest receivable from our allowance for credit losses. As of March 31, 2024 and December 31, 2023, we have excluded $10.8 million and $10.2 million, respectively, of contractual interest receivables and $2.4 million and $3.1 million, respectively, of effective yield interest receivables from our allowance for credit losses. We write-off contractual interest receivables to provision for credit losses in the period we determine the interest is no longer considered collectible. During the three months ended March 31, 2024 and 2023, we recognized $1.0 million and $1.5 million, respectively, of interest income related to loans on non-accrual status as of March 31, 2024.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	3 Months Ended
	Mar. 31, 2024
Variable Interest Entities [Abstract]
VARIABLE INTEREST ENTITIES	NOTE 8 – VARIABLE INTEREST ENTITIES Unconsolidated Variable Interest Entities We hold variable interests in several VIEs through our investing and financing activities, which are not consolidated, as we have concluded that we are not the primary beneficiary of these entities as we do not have the power to direct activities that most significantly impact the VIE’s economic performance and/or the variable interest we hold does not obligate us to absorb losses or provide us with the right to receive benefits from the VIE which could potentially be significant. Below is a summary of our assets, liabilities, collateral and maximum exposure to loss associated with these unconsolidated VIEs as of March 31, 2024 and December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2024 ​ 2023 ​ ​ ​ (in thousands) ​ Assets ​ ​ ​ ​ ​ ​ ​ Real estate assets – net ​ $ 1,012,089 ​ $ 996,540 ​ Assets held for sale ​ ​ — ​ ​ 66,130 ​ Real estate loans receivable – net ​ 400,068 ​ ​ 370,147 ​ Investments in unconsolidated joint ventures ​ ​ 9,016 ​ ​ 9,009 ​ Non-real estate loans receivable – net ​ 9,965 ​ ​ 10,679 ​ Contractual receivables – net ​ 544 ​ ​ 746 ​ Other assets ​ ​ 711 ​ ​ 1,423 ​ Total assets ​ 1,432,393 ​ 1,454,674 ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ Accrued expenses and other liabilities ​ ​ (47,048) ​ ​ (46,677) ​ Total liabilities ​ (47,048) ​ (46,677) ​ ​ ​ ​ ​ ​ ​ ​ ​ Collateral ​ ​ ​ Personal guarantee ​ (48,000) ​ ​ (48,000) ​ Other collateral (1) ​ (1,078,671) ​ ​ (1,105,383) ​ Total collateral ​ (1,126,671) ​ ​ (1,153,383) ​ ​ ​ ​ ​ ​ ​ ​ ​ Maximum exposure to loss ​ $ 258,674 ​ $ 254,614 ​ (1) Amount excludes accounts receivable that Omega has a security interest in as collateral under the two loans with operators that are unconsolidated VIEs. The fair value of the accounts receivable available to Omega was $8.1 million and $8.9 million as of March 31, 2024 and December 31, 2023, respectively. In determining our maximum exposure to loss from the unconsolidated VIEs, we considered the underlying carrying value of the real estate subject to leases with the operator and other collateral, if any, supporting our other investments, which may include accounts receivable, security deposits, letters of credit or personal guarantees, if any, as well as other liabilities recognized with respect to these operators. The table below reflects our total revenues from the operators that are considered unconsolidated VIEs for the three months ended March 31, 2024 and 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ 2024 ​ 2023 ​ ​ ​ (in thousands) Revenue ​ ​ ​ Rental income ​ ​ $ 19,128 ​ $ 9,838 Interest income ​ ​ 2,964 ​ 2,106 Total ​ ​ $ 22,092 ​ $ 11,944 ​ Consolidated VIEs We own a partial equity interest in a joint venture that we have determined is a VIE. We have consolidated this VIE because we have concluded that we are the primary beneficiary of this VIE based on a combination of our ability to direct the activities that most significantly impact the joint venture’s economic performance and our rights to receive residual returns and obligation to absorb losses arising from the joint venture. As of March 31, 2024 and December 31, 2023, this joint venture has $28.0 million and $27.9 million, respectively, of total assets, and $21.0 million and $20.7 million, respectively, of total liabilities, which are included in our Consolidated Balance Sheets.

INVESTMENT IN JOINT VENTURES

INVESTMENT IN JOINT VENTURES	3 Months Ended
	Mar. 31, 2024
INVESTMENTS IN JOINT VENTURES [Abstract]
INVESTMENTS IN JOINT VENTURES	NOTE 9 – INVESTMENTS IN JOINT VENTURES Unconsolidated Joint Ventures The following is a summary of our investments in unconsolidated joint ventures (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Amount ​ ​ Ownership ​ Facility ​ Facility ​ March 31, ​ December 31, Entity ​ % (1) ​ Type ​ Count (1) ​ 2024 2023 Second Spring Healthcare Investment ​ 15% ​ SNF ​ — ​ $ 8,336 $ 8,945 Lakeway Realty, L.L.C. (2) ​ 51% ​ Specialty facility ​ 1 ​ ​ 68,569 ​ ​ 68,902 Cindat Joint Venture ​ 49% ​ ALF ​ 63 ​ ​ 95,979 ​ ​ 97,559 OMG Senior Housing, LLC ​ 50% ​ Specialty facility ​ 1 ​ — ​ — OH CHS SNP, Inc. ​ 9% ​ N/A ​ N/A ​ ​ 794 ​ ​ 752 RCA NH Holdings RE Co., LLC (2)(3) ​ 20% ​ SNF ​ 5 ​ ​ 3,400 ​ ​ 3,400 WV Pharm Holdings, LLC (2)(3) ​ 20% ​ N/A ​ N/A ​ ​ 3,000 ​ ​ 3,000 OMG-Form Senior Holdings, LLC (2)(3) ​ 49% ​ ALF ​ 1 ​ ​ 2,617 ​ ​ 2,609 CHS OHI Insight Holdings, LLC ​ 25% ​ N/A ​ N/A ​ ​ 3,242 ​ ​ 3,242 ​ ​ ​ ​ ​ ​ ​ ​ $ 185,937 ​ $ 188,409 (1) Ownership percentages and facility counts are as of March 31, 2024. (2) As of March 31, 2024 and December 31, 2023, we have an aggregate of $79.6 million of loans outstanding with these joint ventures. (3) These joint ventures are unconsolidated VIEs and therefore are included in the tables in Note 8 – Variable Interest Entities. ​ The following table reflects our income (loss) from unconsolidated joint ventures for the three months ended March 31, 2024 and 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, Entity ​ 2024 2023 ​ ​ (in thousands) Second Spring Healthcare Investments ​ $ 235 ​ $ 289 Lakeway Realty, L.L.C. ​ ​ 691 ​ 679 Cindat Joint Venture ​ (705) ​ 1 OMG Senior Housing, LLC ​ (112) ​ (220) OH CHS SNP, Inc. ​ 42 ​ 82 OMG-Form Senior Holdings, LLC ​ ​ (53) ​ ​ — Total ​ $ 98 ​ $ 831 ​

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES	3 Months Ended
	Mar. 31, 2024
Goodwill and Other Intangibles [Abstract]
GOODWILL AND OTHER INTANGIBLES	NOTE 10 – GOODWILL AND OTHER INTANGIBLES The following is a summary of our goodwill as of March 31, 2024 and December 31, 2023: ​ ​ ​ ​ ​ (in thousands) Balance as of December 31, 2023 ​ $ 643,897 Foreign currency translation ​ (119) Balance as of March 31, 2024 ​ $ 643,778 ​ The following is a summary of our intangible assets and liabilities as of March 31, 2024 and December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ ​ (in thousands) ​ Assets: ​ ​ ​ ​ Above market leases ​ $ 4,214 ​ $ 4,214 ​ Accumulated amortization ​ (3,547) (3,532) ​ Net above market leases ​ $ 667 ​ $ 682 ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ Below market leases ​ $ 48,791 ​ $ 48,791 ​ Accumulated amortization ​ (37,723) (37,177) ​ Net below market leases ​ $ 11,068 ​ $ 11,614 ​ ​ Above market leases, net of accumulated amortization, are included in other assets on our Consolidated Balance Sheets. Below market leases, net of accumulated amortization, are included in accrued expenses and other liabilities on our Consolidated Balance Sheets. The net amortization related to the above and below market leases is included in our Consolidated Statements of Operations as an adjustment to rental income. For the three months ended March 31, 2024 and 2023, our net amortization related to intangibles was $0.5 million and $6.1 million, respectively. The estimated net amortization related to these intangibles for the remainder of 2024 and the next four years is as follows: remainder of 2024 – $1.6 million; 2025 – $2.1 million; 2026 – $1.8 million; 2027 – $1.5 million and 2028 – $0.9 million. As of March 31, 2024, the weighted average remaining amortization period of above market lease assets is 13 years and below market lease liabilities is seven years.

CONCENTRATION OF RISK

CONCENTRATION OF RISK	3 Months Ended
	Mar. 31, 2024
Concentration of Risk [Abstract]
CONCENTRATION OF RISK	NOTE 11 – CONCENTRATION OF RISK As of March 31, 2024, our portfolio of real estate investments (including properties associated with mortgages, direct financing leases, assets held for sale and consolidated joint ventures) consisted of 896 healthcare facilities, located in 42 states and the U.K. and operated by 78 third-party operators. Our investment in these facilities, net of impairments and allowances, totaled $9.2 billion at March 31, 2024, with 97% of our real estate investments related to long-term healthcare facilities. Our portfolio is made up of (i) 590 SNFs, 189 ALFs, 19 ILFs, 19 specialty facilities and one medical office building, (ii) fixed rate mortgages on 47 SNFs, 12 ALFs, two specialty facilities and one ILF, and (iii) 16 facilities that are held for sale. At March 31, 2024, we also held other real estate loans receivable (excluding mortgages) of $502.6 million, non-real estate loans receivable of $269.3 million and $185.9 million of investments in nine unconsolidated joint ventures. As of March 31, 2024 and December 31, 2023, we had investments with one operator or manager that approximated or exceeded 10% of our total investments: Maplewood. Maplewood generated 4.7% and 2.9% of our total revenues for the three months ended March 31, 2024 and 2023, respectively. The revenue associated with Maplewood for the three months ended March 31, 2023 reflects a reduction of revenue of $12.5 million related to a termination fee payment made by Omega as discussed in Note 4 – Contractual Receivables and Other Receivables and Lease Inducements. During the three months ended March 31, 2024, we also have one operator with total revenues that exceeded 10% of our total revenues: CommuniCare Health Services, Inc. (“CommuniCare”). CommuniCare generated 12.9% and 9.6% of our total revenues for the three months ended March 31, 2024 and 2023, respectively. As of March 31, 2024, CommuniCare represented 9.3% of our total investments. As of March 31, 2024, the three states in which we had our highest concentration of investments were Texas (10.4%), Indiana (6.8%) and California (6.1%). In addition, our concentration of investments in the U.K. is 6.8%.

STOCKHOLDERS EQUITY

STOCKHOLDERS EQUITY	3 Months Ended
	Mar. 31, 2024
Stockholders Equity [Abstract]
STOCKHOLDERS EQUITY	NOTE 12 – STOCKHOLDERS’ EQUITY Dividends The following is a summary of our declared cash dividends on common stock: ​ ​ ​ ​ ​ ​ Record ​ Payment ​ Dividend per Date Date Common Share February 5, 2024 ​ February 15, 2024 ​ $ 0.67 April 30, 2024 ​ May 15, 2024 ​ ​ 0.67 ​ Dividend Reinvestment and Common Stock Purchase Plan The following is a summary of the shares issued under the Dividend Reinvestment and Common Stock Purchase Plan for the three months ended March 31, 2024 and 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ Period Ended Shares issued ​ Gross Proceeds Three Months Ended March 31, 2023 82 ​ $ 2,278 Three Months Ended March 31, 2024 29 ​ ​ 882 ​ At-The-Market Offering Programs The following is a summary of the shares issued under our $1.0 billion At-The-Market Offering Program (“ATM Program”) for the three months ended March 31, 2024 and 2023 (in thousands except average price per share): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average Net Price ​ ​ ​ ​ ​ Period Ended Shares issued Per Share (1) Gross Proceeds Net Proceeds Three Months Ended March 31, 2023 — $ — $ — $ — Three Months Ended March 31, 2024 1,041 ​ 30.49 ​ 32,295 ​ 31,738 (1) Represents the average price per share after issuance costs. Accumulated Other Comprehensive Income (Loss) The following is a summary of our accumulated other comprehensive income (loss), net of tax where applicable: ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ 2024 2023 ​ (in thousands) Foreign currency translation $ (55,780) $ (69,170) Derivative instruments designated as cash flow hedges (1) ​ 81,988 ​ ​ 76,806 Derivative instruments designated as net investment hedges 5,653 ​ 13,593 Total accumulated other comprehensive income before noncontrolling interest 31,861 ​ 21,229 Add: portion included in noncontrolling interest (9) ​ 304 Total accumulated other comprehensive income for Omega $ 31,852 ​ $ 21,533 (1) During the three months ended March 31, 2024 and 2023, we reclassified $2.6 million and $1.1 million, respectively, of realized gains out of accumulated other comprehensive income into interest expense on our Consolidated Statements of Operations associated with our cash flow hedges.

TAXES

TAXES	3 Months Ended
	Mar. 31, 2024
Taxes [Abstract]
TAXES	NOTE 13 – TAXES Omega was organized, has operated and intends to continue to operate in a manner that enables Omega to qualify for taxation as a REIT under Sections 856 through 860 of the Code. On a quarterly and annual basis, we perform several analyses to test our compliance within the REIT taxation rules. If we fail to meet the requirements for qualification as a REIT in any tax year, we will be subject to federal income tax on our taxable income at regular corporate rates and may not be able to qualify as a REIT for the four We are also subject to federal taxation of 100% of the net income derived from the sale or other disposition of property, other than foreclosure property, that we held primarily for sale to customers in the ordinary course of a trade or business. We believe that we do not hold assets for sale to customers in the ordinary course of business and that none of the assets currently held for sale or that have been sold would be considered a prohibited transaction within the REIT taxation rules. As a REIT under the Code, we generally will not be subject to federal income taxes on the REIT taxable income that we distribute to stockholders, subject to certain exceptions. In 2023, we distributed dividends in excess of our taxable income. We currently own stock in certain subsidiary REITs. These subsidiary entities are required to individually satisfy all of the rules for qualification as a REIT. If we fail to meet the requirements for qualification as a REIT for any of the subsidiary REITs, it may cause Omega to fail the requirements for qualification as a REIT also. We have elected to treat certain of our active subsidiaries as taxable REIT subsidiaries (“TRSs”). Our domestic TRSs are subject to federal, state and local income taxes at the applicable corporate rates. As of March 31, 2024, one of our TRSs that is subject to income taxes at the applicable corporate rates had a net operating loss (“NOL”) carry-forward of $9.8 million. Our NOL carry-forward was partially reserved as of March 31, 2024, with a valuation allowance due to uncertainties regarding realization. Under current law, NOL carry-forwards generated up through December 31, 2017, may be carried forward for no more than 20 years, and NOL carry-forwards generated in taxable years ended after December 31, 2017, may be carried forward indefinitely. We do not anticipate that such changes will materially impact the computation of Omega’s taxable income, or the taxable income of any Omega entity, including our TRSs. Our foreign subsidiaries are subject to foreign income taxes and withholding taxes. The majority of our U.K. portfolio elected to enter the U.K. REIT regime with an effective date of April 1, 2023. As of March 31, 2024, one of our U.K. subsidiaries had a NOL carryforward of $35.4 million. These U.K. NOLs have no expiration date and may be available to offset future taxable income. We believe these foreign NOLs are realizable under a “more likely than not” measurement and have not recorded a valuation allowance against the deferred tax asset. The following is a summary of deferred tax assets and liabilities (which are recorded in other assets and accrued expenses and other liabilities in our Consolidated Balance Sheets): ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2024 2023 ​ ​ (in thousands) U.S. Federal net operating loss carryforward ​ $ 2,048 ​ $ 2,079 Valuation allowance on deferred tax asset ​ (1,996) ​ (2,024) Foreign net operating loss carryforward ​ ​ 8,857 ​ ​ 9,491 Net deferred tax asset ​ $ 8,909 ​ $ 9,546 ​ ​ ​ ​ ​ ​ ​ Foreign deferred tax liability (1) ​ $ 1,426 ​ $ 1,508 Net deferred tax liability ​ $ 1,426 ​ $ 1,508 (1) The deferred tax liability resulted from book to tax differences recorded in the U.S. relating to depreciation and revenue recognition in the U.K. recognized upon the majority of our U.K. portfolio entering the U.K. REIT regime effective April 1, 2023. The following is a summary of our provision for income taxes: ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2024 2023 ​ (in millions) Federal, state and local income tax expense $ 0.5 $ 0.3 Foreign income tax expense (benefit) (1) ​ 2.1 ​ (1.6) Total income tax expense (benefit) (2) $ 2.6 ​ $ (1.3) (1) The benefit for the three months ended March 31, 2023 primarily relates to adjustments made to our deferred tax assets and liabilities as a result of the majority of our U.K. portfolio electing to enter into the U.K. REIT regime effective April 1, 2023. (2) The above amounts do not include gross income receipts or franchise taxes payable to certain states and municipalities.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2024
Stock-Based Compensation [Abstract]
STOCK-BASED COMPENSATION	NOTE 14 – STOCK-BASED COMPENSATION Stock-based compensation expense was $9.2 million and $8.7 million for the three months ended March 31, 2024 and 2023, respectively. Stock-based compensation expense is included within general and administrative expenses on our Consolidated Statements of Operations. We granted 259,781 time-based profits interest units (“PIUs”) during the first quarter of 2024 to certain officers and employees, and those units vest on December 31, 2026 (three years after the grant date), subject to continued employment and vesting in connection with certain other events. We granted 2,297,064 performance-based PIUs during the first quarter of 2024 to certain officers and employees, which are earned based on the level of performance over the performance period (normally three years) and vest quarterly in the four Time-based and performance-based grants made to named executive officers and key employees that meet certain conditions under the Company’s retirement policy (length of service, age, etc.) vest on an accelerated basis pursuant to the terms of our 2018 Stock Incentive Plan.

BORROWING ACTIVITIES AND ARRANG

BORROWING ACTIVITIES AND ARRANGEMENTS	3 Months Ended
	Mar. 31, 2024
BORROWING ACTIVITIES AND ARRANGEMENTS [Abstract]
BORROWING ACTIVITIES AND ARRANGEMENTS	NOTE 15 – BORROWING ACTIVITIES AND ARRANGEMENTS The following is a summary of our borrowings: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Annual ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest Rate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ as of ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ ​ March 31, ​ December 31, ​ Maturity 2024 ​ 2024 2023 ​ ​ ​ ​ (in thousands) Secured borrowings: ​ ​ ​ HUD mortgages (1) ​ 2049 - 2051 ​ N/A ​ ​ $ — ​ $ 41,878 2024 term loan (2) 2024 10.83 % ​ ​ 20,145 ​ ​ 20,085 Total secured borrowings ​ ​ ​ ​ ​ ​ ​ 20,145 ​ ​ 61,963 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unsecured borrowings: ​ ​ ​ Revolving credit facility (3)(4) 2025 6.64 % ​ 20,213 ​ 20,397 ​ ​ ​ ​ ​ ​ ​ ​ 20,213 ​ ​ 20,397 Senior notes and other unsecured borrowings: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 notes (3)(5) 2024 4.95 % ​ 400,000 ​ 400,000 2025 notes (3) 2025 4.50 % ​ 400,000 ​ 400,000 2026 notes (3) 2026 5.25 % ​ 600,000 ​ 600,000 2027 notes (3) 2027 4.50 % ​ 700,000 ​ 700,000 2028 notes (3) 2028 4.75 % ​ 550,000 ​ 550,000 2029 notes (3) 2029 3.63 % ​ 500,000 ​ 500,000 2031 notes (3) ​ 2031 ​ 3.38 % ​ ​ 700,000 ​ ​ 700,000 2033 notes (3) ​ 2033 ​ 3.25 % ​ ​ 700,000 ​ ​ 700,000 2025 term loan (3)(6) ​ 2025 5.60 % ​ 428,500 ​ 428,500 OP term loan (7)(8) 2025 5.52 % ​ 50,000 ​ 50,000 Deferred financing costs – net ​ ​ ​ (18,958) ​ (20,442) Discount – net ​ ​ (21,748) ​ (23,102) Total senior notes and other unsecured borrowings – net ​ ​ 4,987,794 ​ 4,984,956 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total unsecured borrowings – net ​ ​ 5,008,007 ​ 5,005,353 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total secured and unsecured borrowings – net (9)(10) ​ ​ $ 5,028,152 ​ $ 5,067,316 (1) Wholly owned subsidiaries of Omega OP were the obligors on these borrowings. During the first quarter of 2024, the remaining nine HUD mortgages with outstanding principal of $41.6 million were paid off. The payoff also included a $1.3 million prepayment fee, which is included in loss on debt extinguishment on our Consolidated Statements of Operations. (2) Borrowing is the debt of the consolidated joint venture discussed in Note 8 – Variable Interest Entities which was formed in the first quarter of 2022. The borrowing is secured by two ALFs, which are owned by the joint venture. During the first quarter of 2024, this loan was extended from February 29, 2024 to April 30, 2024 . During the second quarter of 2024, the company repaid this loan using available cash and proceeds from our revolving credit facility. (3) Guaranteed by Omega OP. (4) As of March 31, 2024, borrowings under Omega’s $1.45 billion senior unsecured multicurrency revolving credit facility consisted of £16.0 million British Pounds Sterling (“GBP”). The applicable interest rate on the U.S. Dollar tranche and on the GBP borrowings under the alternative currency tranche of the credit facility were 6.64% and 6.51% as of March 31, 2024, respectively. (5) The Company repaid the $400 million of 4.95% senior notes on the April 1, 2024 maturity date using available cash and proceeds from our revolving credit facility. (6) The weighted average interest rate of the $428.5 million 2025 term loan has been adjusted to reflect the impact of the interest rate swaps that effectively fix the SOFR-based portion of the interest rate at 4.047% . (7) Omega OP is the obligor on this borrowing. (8) The weighted average interest rate of the $50 million OP term loan has been adjusted to reflect the impact of the interest rate swaps that effectively fix the SOFR-based portion of the interest rate at 3.957% . (9) All borrowings are direct borrowings of Parent unless otherwise noted. (10) Certain of our other secured and unsecured borrowings are subject to customary affirmative and negative covenants, including financial covenants. As of March 31, 2024 and December 31, 2023, we were in compliance with all applicable covenants for our borrowings .

DERIVATIVES AND HEDGING

DERIVATIVES AND HEDGING	3 Months Ended
	Mar. 31, 2024
DERIVATIVES AND HEDGING [Abstract]
DERIVATIVES AND HEDGING	NOTE 16 – DERIVATIVES AND HEDGING We are exposed to, among other risks, the impact of changes in foreign currency exchange rates as a result of our investments in the U.K. and interest rate risk related to our capital structure. As a matter of policy, we do not use derivatives for trading or speculative purposes. Our risk management program is designed to manage the exposure and volatility arising from these risks, and utilizes foreign currency forward contracts, interest rate swaps and debt issued in foreign currencies to offset a portion of these risks. As of March 31, 2024, we have 12 interest rate swaps with $478.5 million in notional value. The swaps are designated as cash flow hedges of the interest payments on two of Omega’s variable interest loans. Additionally, we have 11 foreign currency forward contracts with £258.0 million in notional value issued at a weighted average GBP-USD forward rate of 1.2899 that are designated as net investment hedges. On February 27, 2024, we terminated two foreign currency forward contracts that were entered into in March 2021 with notional amounts totaling £70.0 million. Omega received a net cash settlement of $8.4 million as a result of termination, which is included within net cash used in investing activities in the Consolidated Statements of Cash Flows. The $8.4 million related to the termination will remain in accumulated other comprehensive income until the underlying hedged items are liquidated. Concurrent with the termination of the two foreign currency forward contracts, also on February 27, 2024, we entered into three new foreign currency forward contracts with notional amounts totaling £78.0 million and a GBP-USD forward rate of 1.2707, each of which mature between March 8, 2027 and March 7, 2031. The new currency forward contracts hedge an intercompany loan between a U.S. and a U.K. subsidiary. The location and fair value of derivative instruments designated as hedges, at the respective balance sheet dates, were as follows: ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2024 2023 Cash flow hedges: (in thousands) Other assets $ 1,745 ​ $ — Accrued expenses and other liabilities $ 325 ​ $ 6,533 ​ ​ ​ ​ ​ ​ Net investment hedges: ​ ​ ​ ​ ​ Other assets $ 2,835 ​ $ 8,903 Accrued expenses and other liabilities $ 646 ​ $ 8 ​ The fair value of the interest rate swap and foreign currency forwards is derived from observable market data such as yield curves and foreign exchange rates and represents a Level 2 measurement on the fair value hierarchy.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2024
Financial Instruments [Abstract]
FINANCIAL INSTRUMENTS	NOTE 17 – FINANCIAL INSTRUMENTS The net carrying amount of cash and cash equivalents, restricted cash, contractual receivables, other assets and accrued expenses and other liabilities reported in the Consolidated Balance Sheets approximates fair value because of the short maturity of these instruments (Level 1). At March 31, 2024 and December 31, 2023, the net carrying amounts and fair values of our other financial instruments were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2024 ​ December 31, 2023 ​ Carrying Fair Carrying Fair ​ Amount Value Amount Value ​ ​ (in thousands) Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investments in direct financing leases – net $ 8,873 ​ $ 8,873 $ 8,716 $ 8,716 Real estate loans receivable – net ​ 1,246,528 ​ 1,221,793 ​ 1,212,162 ​ 1,258,838 Non-real estate loans receivable – net ​ 269,342 ​ 276,042 ​ 275,615 ​ 279,710 Total ​ $ 1,524,743 ​ $ 1,506,708 ​ $ 1,496,493 ​ $ 1,547,264 Liabilities: ​ ​ ​ ​ Revolving credit facility ​ $ 20,213 ​ $ 20,213 ​ $ 20,397 ​ $ 20,397 2024 term loan ​ 20,145 ​ 19,750 ​ 20,085 ​ 19,750 2025 term loan ​ ​ 425,257 ​ ​ 428,500 ​ ​ 424,662 ​ ​ 428,500 OP term loan ​ 49,890 ​ 50,000 ​ 49,864 ​ 50,000 4.95% notes due 2024 – net ​ 400,000 ​ 400,000 ​ 399,747 ​ 398,888 4.50% notes due 2025 – net ​ 399,397 ​ 395,600 ​ 399,207 ​ 393,240 5.25% notes due 2026 – net ​ 598,730 ​ 596,094 ​ 598,553 ​ 596,508 4.50% notes due 2027 – net ​ 695,668 ​ 677,411 ​ 695,302 ​ 671,538 4.75% notes due 2028 – net ​ 546,177 ​ 530,992 ​ 545,925 ​ 528,704 3.63% notes due 2029 – net ​ ​ 493,401 ​ ​ 446,305 ​ ​ 493,099 ​ ​ 440,785 3.38% notes due 2031 – net ​ ​ 687,620 ​ ​ 597,492 ​ ​ 687,172 ​ ​ 594,734 3.25% notes due 2033 – net ​ ​ 691,654 ​ ​ 566,881 ​ ​ 691,425 ​ ​ 564,809 HUD mortgages – net ​ ​ — ​ ​ — ​ ​ 41,878 ​ ​ 31,322 Total ​ $ 5,028,152 ​ $ 4,729,238 ​ $ 5,067,316 ​ $ 4,739,175 ​ Fair value estimates are subjective in nature and are dependent on a number of important assumptions, including estimates of future cash flows, risks, discount rates and relevant comparable market information associated with each financial instrument (see Note 2 – Summary of Significant Accounting Policies in our Annual Report on Form 10-K The following methods and assumptions were used in estimating fair value disclosures for financial instruments. ● Real estate loans receivable: The fair value of the real estate loans receivables are estimated using a discounted cash flow analysis, using interest rates being offered for similar loans to borrowers with similar credit ratings (Level 3). ● Non-real estate loans receivable: Non-real estate loans receivable are primarily comprised of notes receivable. The fair values of notes receivable are estimated using a discounted cash flow analysis, using interest rates being offered for similar loans to borrowers with similar credit ratings (Level 3). ● Revolving credit facility, OP term loan, 2024 term loan and 2025 term loan: The carrying amount of these approximate fair value because the borrowings are interest rate adjusted. Differences between carrying value and the fair value in the table above are due to the inclusion of deferred financing costs in the carrying value. ● Senior notes: The fair value of the senior unsecured notes payable was estimated based on (Level 1) publicly available trading prices. ● HUD mortgages: The fair value of our borrowings under HUD debt agreements was estimated using an expected present value technique based on quotes obtained by HUD debt brokers (Level 2).

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2024
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 18 – COMMITMENTS AND CONTINGENCIES Litigation Shareholder Litigation Certain derivative actions have been brought against three of the Company’s officers, C. Taylor Pickett, Robert O. Stephenson, and Daniel J. Booth, and certain current and former directors of the Company, asserting claims for breach of duty primarily relating to matters at issue in a securities class action in the Southern District of New York that was settled in 2023, including alleged failures to disclose material adverse facts about the Company’s business, operations and prospects, including the financial and operating results of one of the Company’s operators, Orianna Health Systems (“Orianna”), the ability of Orianna to make timely rent payments and the impairment of certain of the Company’s leases and the uncollectibility of certain receivables concerning Orianna. In 2018, Stourbridge Investments LLC, a purported stockholder of the Company, filed a derivative action purportedly on behalf of the Company in the U.S. District Court for the Southern District of New York, alleging violations of Section 14(a) of the Exchange Act and state-law claims including breach of fiduciary duty (the “Stourbridge Matter”). The complaint alleges, among other things, that the named defendants are responsible for the Company’s failure to disclose the financial condition of Orianna. The plaintiff did not make a demand on the Company to bring the action prior to filing it, but rather alleges that demand would have been futile. In 2019, purported stockholder Phillip Swan by his counsel, and stockholders Tom Bradley and Sarah Smith by their counsel, filed derivative actions in the Baltimore City Circuit Court of Maryland, purportedly on behalf of the Company, asserting claims for breach of fiduciary duty, waste of corporate assets and unjust enrichment against the named defendants. The complaints allege, among other things, that the named defendants are responsible for the Company’s failure to disclose the financial condition of Orianna. Those actions were consolidated (together, the “Swan Matter”). Prior to filing suit, each of these stockholders had made demands on the Board of Directors in 2018 that the Company bring such lawsuits. After an investigation and due consideration, and in the exercise of its business judgment, the Board of Directors determined that it is not in the best interests of the Company to commence litigation against any current or former officers or directors based on the matters raised in the demands. In addition, in late 2020, Robert Wojcik, a purported shareholder of the Company, filed a derivative action in the U.S. District Court for the District of Maryland, purportedly on behalf of the Company, asserting violations of Section 14(a) of the Exchange Act, Sections 10(b) and 21D of the Exchange Act, as well as claims for breach of fiduciary duty, unjust enrichment, abuse of control, gross mismanagement, and waste of corporate assets (the “Wojcik Matter”). The complaint alleges, among other things, that the named defendants are responsible for the Company’s failure to disclose the financial condition of Orianna, as well as certain alleged discriminatory conduct and lack of diversity concerning the Company. Wojcik also did not make a demand on the Company prior to filing suit. The Company and individual defendants have reached an agreement in principle with each of the derivative plaintiffs to resolve these derivative actions, as reflected by written memoranda of understanding. The proposed settlements contemplate the Company’s adoption of certain non-monetary corporate governance enhancements and initiatives. In February 2024, formal stipulations of settlement, incorporating the substantive terms of the memoranda of understanding and detailing the proposed settlements’ operational terms, were submitted for court approval. In March 2024, the court overseeing the Stourbridge Matter and the Swan Matter issued an order granting preliminary approval to a proposed settlement reached with the plaintiffs in the Stourbridge Matter and the Swan Matter. That court scheduled a hearing on May 21, 2024, to determine whether it should issue an order for final approval of the proposed settlement in the Stourbridge Matter and the Swan Matter. In April 2024, the court overseeing the Wojcik Matter issued an order granting preliminary approval to the proposed settlement reached with the plaintiff in the Wojcik Matter. That court scheduled a hearing on June 24, 2024, to determine whether it should issue an order for final approval of the proposed settlement. The proposed settlements While the Company believes that it was and is in compliance with all applicable laws, in the fourth quarter of 2023, the Company recorded a $ million legal reserve related to this matter which is included within accrued expenses and other liabilities on the Consolidated Balance Sheets. Other Gulf Coast Subordinated Debt In August 2021, we filed suit in the Circuit Court for Baltimore County (the “Court”) against the holders of certain Subordinated Debt (the “Debt Holders”) associated with our Gulf Coast master lease agreement, following an assertion by the Debt Holders that our prior exercise of offset rights in connection with Gulf Coast’s non-payment of rent had resulted in defaults under the terms of the Subordinated Debt. The suit seeks a declaratory judgment to, among other items, declare that the aggregate amount of unpaid rent due from Gulf Coast under the master lease agreement exceeds all amounts which otherwise would be due and owing by an indirect subsidiary of Omega (“Omega Obligor”) under the Subordinated Debt, and that all principal and interest due and owing under the Subordinated Debt may be (and was) offset in full as of December 31, 2021. In October 2021, the Debt Holders filed a motion to dismiss for lack of personal jurisdiction. On November 3, 2022, the Court granted the Debt Holders’ motion to dismiss for lack of personal jurisdiction, and Omega filed a timely appeal of the ruling. While Omega believes Omega Obligor is entitled to the enforcement of the offset rights sought in the action, Omega cannot predict the outcome of the declaratory judgment action, irrespective of whether (a) it is ultimately litigated in the Court if Omega Obligor prevails in its appeal or (b) if the order granting the motion to dismiss for lack of personal jurisdiction is affirmed and the issues are litigated in the Delaware Court (as defined below). On or about January 19, 2023, the Debt Holders served a lawsuit against the Omega Obligor in the Superior Court of the State of Delaware (the “Delaware Court”), asserting claims for (i) breach of the instruments evidencing the Subordinated Debt, (ii) declaratory judgment, and (iii) unjust enrichment, all claims that are factually based on the claims that are the subject of Omega Obligor’s suit in the Court and that are now on appeal. On February 8, 2023, Omega Obligor filed a motion to dismiss or, in the alternative, to stay this action pending the outcome of the above-referenced lawsuit in Maryland. On July 10, 2023, the Delaware state court case stayed the proceeding pending further developments in the Maryland litigation. Omega believes that the claims are baseless and is evaluating procedural and substantive legal options in connection with this recently filed suit to the extent the stay is lifted. Other In addition to the matters above, we are subject to various other legal proceedings, claims and other actions arising out of the normal course of business. While any legal proceeding or claim has an element of uncertainty, management believes that the outcome of each lawsuit, claim or legal proceeding that is pending or threatened, or all of them combined, will not have a material adverse effect on our consolidated financial position or results of operations. Indemnification Agreements In connection with certain facility transitions, we have agreed to indemnify certain operators in certain events. As of March 31, 2024, our maximum funding commitment under these indemnification agreements was $6.5 million. Claims under these indemnification agreements generally may be made within 18 months to 72 months of the transition date. These indemnification agreements were provided to certain operators in connection with facility transitions and generally would be applicable in the event that the prior operators do not perform under their transition agreements. Commitments We have committed to fund the construction of new leased and mortgaged facilities, capital improvements and other commitments. We expect the funding of these commitments to be completed over the next several years. Our remaining commitments at March 31, 2024, are outlined in the table below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lessor construction and capital commitments under lease agreements ​ $ 162,651 ​ ​ Non-real estate loan commitments ​ 43,304 ​ ​ Real estate loan commitments ​ 51,092 ​ ​ Total remaining commitments (1) ​ $ 257,047 ​ ​ (1) Includes finance costs . ​

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2024
Earnings per Share [Abstract]
EARNINGS PER SHARE	NOTE 19 – EARNINGS PER SHARE The following tables set forth the computation of basic and diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2024 2023 ​ ​ (in thousands, except per share amounts) Numerator: ​ ​ Net income available to common stockholders – basic ​ $ 67,361 ​ $ 35,942 Add: net income attributable to OP Units ​ 2,036 ​ 1,048 Net income available to common stockholders – diluted ​ $ 69,397 ​ $ 36,990 Denominator: ​ ​ Denominator for basic earnings per share ​ 246,071 ​ 234,954 Effect of dilutive securities: ​ ​ ​ ​ Common stock equivalents ​ 3,756 ​ 1,384 Noncontrolling interest – Omega OP Units ​ 7,437 ​ 6,850 Denominator for diluted earnings per share ​ 257,264 ​ 243,188 ​ ​ ​ ​ ​ ​ ​ Earnings per share – basic: ​ ​ Net income available to common stockholders ​ $ 0.27 ​ $ 0.15 Earnings per share – diluted: ​ ​ Net income available to common stockholders ​ $ 0.27 ​ $ 0.15 ​

SUPPLEMENTAL DISCLOSURE TO CONS

SUPPLEMENTAL DISCLOSURE TO CONSOLIDATED STATEMENTS OF CASH FLOWS	3 Months Ended
	Mar. 31, 2024
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL DISCLOSURE TO CONSOLIDATED STATEMENTS OF CASH FLOWS	​ NOTE 20 – SUPPLEMENTAL DISCLOSURE TO CONSOLIDATED STATEMENTS OF CASH FLOWS The following are supplemental disclosures to the Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2024 2023 ​ (in thousands) ​ Reconciliation of cash and cash equivalents and restricted cash: ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 361,773 ​ $ 245,182 ​ Restricted cash ​ 1,253 ​ 3,336 ​ Cash, cash equivalents and restricted cash at end of period ​ $ 363,026 ​ $ 248,518 ​ ​ ​ ​ ​ ​ ​ ​ ​ Supplemental information: ​ ​ ​ ​ ​ Interest paid during the period, net of amounts capitalized ​ $ 58,412 ​ $ 61,451 ​ Taxes paid during the period ​ $ 1,249 ​ $ 1,636 ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-cash financing activities: ​ ​ ​ Change in fair value of hedges ​ $ 9,675 ​ $ (13,516) ​ Remeasurement of debt denominated in a foreign currency ​ $ (184) ​ $ 538 ​ ​

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2024
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 21 – SUBSEQUENT EVENTS New Investments In April 2024, we acquired one facility in Michigan for consideration of $31.0 million and leased it to an existing operator. The facility has an initial annual cash yield of 11.5% with annual escalators of 2.0% beginning in the third year. In May 2024, we acquired 32 facilities in the U.K. for aggregate consideration of $62.7 million and leased them to one new operator. The facilities have a weighted average initial annual cash yield of 10.0% with annual escalators of 2.5%. In May 2024, we funded $71.7 million in real estate loans to a U.K. operator. The loans have a weighted average interest rate of 10.0% and a weighted average term of 6 months. Loan Repayments The Company repaid the $400 million of 4.95% senior notes on the April 1, 2024 maturity date, using available cash and proceeds from our revolving credit facility. Subsequent to quarter end, the Company repaid the $19.8 million 2024 term loan, which was the debt of a consolidated joint venture and had a maturity date of April 30, 2024, using available cash and proceeds from our revolving credit facility. ​ ​

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policy)	3 Months Ended
	Mar. 31, 2024
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all the information and notes required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements. In our opinion, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The results of operations for the interim periods reported herein are not necessarily indicative of results to be expected for the full year. These unaudited consolidated financial statements should be read in conjunction with the financial statements and the footnotes thereto included in our Annual Report on Form 10-K Omega’s consolidated financial statements include the accounts of Omega Healthcare Investors, Inc., its wholly-owned subsidiaries and the joint ventures (“JVs”) and variable interest entities (“VIEs”) that it controls, through voting rights or other means. All intercompany transactions and balances have been eliminated in consolidation.
Segments	Segments We conduct our operations and report financial results as one business segment. The presentation of financial results as one reportable segment is consistent with the way we operate our business and is consistent with the manner in which our Chief Operating Decision Maker (CODM), our Chief Executive Officer, evaluates performance and makes resource and operating decisions for the business.
Reclassification	Reclassification Certain amounts in the prior year period have been reclassified to conform to the current period presentation. Income from direct financing leases, which was previously reported separately on our Consolidated Statements of Operations, is now included in Rental Income for all periods presented. In addition, we previously reported assets held for sale of $93.7 million on the Consolidated Balance Sheet as of December 31, 2023. $12.2 million of these assets no longer qualify as held for sale and have been reclassified to assets held for use within the applicable line items in real estate assets – net on the Consolidated Balance Sheet as of December 31, 2023. See further discussion on the held for sale reclassification in Note 3 – Assets Held for Sale, Dispositions and Impairments.

REAL ESTATE ASSETS (Tables)

REAL ESTATE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2024
REAL ESTATE ASSETS [Abstract]
Schedule of operating and direct financing lease income	​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2024 ​ 2023 ​ ​ (in thousands) Fixed income from operating leases ​ $ 203,292 ​ $ 185,327 Variable income from operating leases ​ ​ 3,377 ​ ​ 3,750 Interest income from direct financing leases ​ ​ 252 ​ ​ 254 Total rental income ​ $ 206,921 ​ $ 189,331 ​
Summary of asset acquisitions	The following table summarizes the asset acquisitions that occurred during the three months ended March 31, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of ​ ​ ​ Total Real Estate ​ Initial ​ ​ Facilities ​ Assets Acquired Annual ​ Period ​ SNF ALF ​ Country/State ​ (in millions) ​ Cash Yield (1) ​ Q1 ​ 1 — WV ​ $ 8.1 ​ 10.0 % Q1 ​ — 1 ​ U.K. ​ ​ 5.2 ​ 9.5 % Total 1 1 ​ ​ $ 13.3 ​ ​ (1) Initial annual cash yield reflects the initial annual contractual cash rent divided by the purchase price.

ASSETS HELD FOR SALE, DISPOSI_2

ASSETS HELD FOR SALE, DISPOSITIONS AND IMPAIRMENTS (Tables)	3 Months Ended
	Mar. 31, 2024
ASSETS HELD FOR SALE, DISPOSITIONS AND IMPAIRMENTS [Abstract]
Schedule of Properties Held-for-Sale	The following is a summary of our assets held for sale: ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2024 2023 Number of facilities held for sale ​ 16 ​ ​ 16 Amount of assets held for sale (in thousands) $ 81,546 ​ $ 81,546

CONTRACTUAL RECEIVABLES AND O_2

CONTRACTUAL RECEIVABLES AND OTHER RECEIVABLES AND LEASE INDUCEMENTS (Tables)	3 Months Ended
	Mar. 31, 2024
CONTRACTUAL RECEIVABLES AND OTHER RECEIVABLES AND LEASE INDUCEMENTS [Abstract]
Schedule of Net Accounts Receivable	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2024 2023 ​ ​ (in thousands) ​ Contractual receivables – net ​ $ 10,973 ​ $ 11,888 ​ ​ ​ ​ ​ ​ ​ ​ ​ Effective yield interest receivables ​ $ 2,363 ​ $ 3,127 ​ Straight-line rent receivables ​ 212,399 ​ 202,748 ​ Lease inducements ​ 8,519 ​ 8,782 ​ Other receivables and lease inducements ​ $ 223,281 ​ $ 214,657 ​

REAL ESTATE LOANS RECEIVABLE (T

REAL ESTATE LOANS RECEIVABLE (Tables) - Mortgage Receivables and Other Real Estate Loans [Member]	3 Months Ended
	Mar. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of Investments	A summary of our real estate loans receivable by loan type and by borrower and/or guarantor is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2024 2023 ​ ​ (in thousands) ​ Mortgage notes due 2030; interest at 11.22% (1)(2) ​ $ 517,437 $ 514,866 ​ Mortgage notes due 2037; interest at 10.50% ​ ​ 72,420 ​ ​ 72,420 ​ Mortgage note due 2025; interest at 7.85% ​ ​ 61,533 ​ ​ 62,010 ​ Mortgage note due 2028; interest at 10.00% ​ ​ 50,000 ​ ​ 50,000 ​ Other mortgage notes outstanding (3) ​ 90,655 ​ 55,141 ​ Mortgage notes receivable – gross ​ 792,045 ​ 754,437 ​ Allowance for credit losses on mortgage notes receivable ​ ​ (48,164) ​ ​ (55,661) ​ Mortgage notes receivable – net ​ ​ 743,881 ​ ​ 698,776 ​ Other real estate loan due 2035; interest at 7.00% ​ ​ 263,580 ​ ​ 263,520 ​ Other real estate loans due 2024-2030; interest at 11.76% (1) ​ ​ 118,474 ​ ​ 120,576 ​ Other real estate loans due 2024; interest at 13.21% (1)(4) ​ ​ 109,011 ​ ​ 106,807 ​ Other real estate loans outstanding (5) ​ ​ 63,860 ​ ​ 57,812 ​ Other real estate loans – gross ​ ​ 554,925 ​ ​ 548,715 ​ Allowance for credit losses on other real estate loans ​ (52,278) ​ (35,329) ​ Other real estate loans – net ​ ​ 502,647 ​ ​ 513,386 ​ Total real estate loans receivable – net ​ $ 1,246,528 ​ $ 1,212,162 ​ (1) Approximates the weighted average interest rate on facilities as of March 31, 2024. (2) All mortgage notes mature in 2030 with the exception of two mortgage notes with an aggregate outstanding principal balance of $52.0 million that mature in 2024. (3) Other mortgage notes outstanding consists of nine loans to multiple borrowers that have a weighted average interest rate of 9.67% as of March 31, 2024, with maturity dates ranging from 2024 through 2027 (with $8.3 million maturing in 2024). Two of the mortgage notes with an aggregate principal balance of $12.9 million are past due and have been written down, through our allowance for credit losses, to the estimated fair value of the underlying collateral of $1.5 million. (4) During the first quarter of 2024, the maturity dates of these loans were extended from March 29, 2024 to June 28, 2024. (5) Other real estate loans outstanding consists of seven loans to multiple borrowers that have a weighted average interest rate of 10.88% as of March 31, 2024, with maturity dates ranging from 2027 through 2033 .
Summary of Real Estate interest income	Interest income on real estate loans is included within interest income on the Consolidated Statements of Operations and is summarized as follows: ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2024 2023 ​ (in thousands) Mortgage notes – interest income $ 19,843 $ 16,548 Other real estate loans – interest income 8,896 ​ 6,849 Total real estate loans interest income $ 28,739 ​ $ 23,397

NON-REAL ESTATE LOANS RECEIVA_2

NON-REAL ESTATE LOANS RECEIVABLE (Tables)	3 Months Ended
	Mar. 31, 2024
Non Real Estate Loans Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of Investments	Our non-real estate loans consist of fixed and variable rate loans to operators or principals. These loans may be either unsecured or secured by the collateral of the borrower, which may include the working capital of the borrower. As of March 31, 2024, we had 45 loans with 22 different borrowers. A summary of our non-real estate loans by borrower and/or guarantor is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2024 2023 ​ ​ ​ (in thousands) ​ Notes due 2024-2029; interest at 11.20% (1) ​ $ 92,851 ​ $ 92,681 ​ Notes due 2036; interest at 5.63% ​ ​ 76,684 ​ 77,854 ​ Notes due 2024-2026; interest at 10.99% (1) ​ ​ 49,970 ​ ​ 53,300 ​ Note due 2025; interest at 7.83% (2) ​ ​ 44,249 ​ ​ 44,999 ​ Notes due 2036; interest at 2.00% ​ ​ 32,308 ​ ​ 32,308 ​ Other notes outstanding (3) ​ 94,224 ​ 96,104 ​ Non-real estate loans receivable – gross ​ ​ 390,286 ​ ​ 397,246 ​ Allowance for credit losses on non-real estate loans receivable ​ ​ (120,944) ​ ​ (121,631) ​ Total non-real estate loans receivable – net ​ $ 269,342 ​ $ 275,615 ​ (1) Approximates the weighted average interest rate as of March 31, 2024. (2) During the first quarter of 2024, this loan was amended to, among other items, extend the maturity date to December 31, 2025 , modify the mandatory principal payments required under the loan, reduce the maximum principal under the loan from $55.0 million to $45.0 million and increase the interest rate on borrowings in excess of $15.0 million to 8% in January 2024, with further interest rate increases to 9% and 10% in April 2024 and June 2024, respectively. The interest rate remains at 7.5% for borrowings that do not exceed $15.0 million. The interest rate above represents the weighted average interest rate as of March 31, 2024. (3) Other notes outstanding have a weighted average interest rate of 8.09% as of March 31, 2024, with maturity dates ranging from 2024 through 2030 (with $7.6 million maturing in 2024 ). Three of the other notes outstanding with an aggregate principal balance of $10.1 million are past due and have been written down to the estimated fair value of the underlying collateral of zero , through our allowance for credit losses.

ALLOWANCE FOR CREDIT LOSSES (Ta

ALLOWANCE FOR CREDIT LOSSES (Tables)	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Schedule of expected credit loss	A rollforward of our allowance for credit losses for the three months ended March 31, 2024 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Rating ​ Financial Statement Line Item Allowance for Credit Loss as of December 31, 2023 ​ Provision (Recovery) for Credit Loss for the three months ended March 31, 2024 (1) ​ Write-offs charged against allowance for the three months ended March 31, 2024 ​ Allowance for Credit Loss as of March 31, 2024 ​ ​ ​ (in thousands) 1 ​ Real estate loan receivable $ 1,501 ​ $ (193) ​ $ — ​ $ 1,308 2 ​ Real estate loans receivable ​ 291 ​ ​ 269 ​ ​ — ​ ​ 560 3 ​ Real estate loans receivable ​ 12,635 ​ ​ 1,056 ​ ​ — ​ ​ 13,691 4 ​ Real estate loans receivable ​ 65,113 ​ ​ (29,915) (2) ​ — ​ ​ 35,198 5 ​ Real estate loans receivable ​ — ​ ​ 38,235 (2) ​ — ​ ​ 38,235 6 ​ Real estate loans receivable ​ 11,450 ​ ​ — ​ ​ — ​ ​ 11,450 ​ ​ Sub-total ​ 90,990 ​ ​ 9,452 ​ ​ — ​ ​ 100,442 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5 ​ Investment in direct financing leases ​ 2,489 ​ ​ (191) ​ ​ — ​ ​ 2,298 ​ ​ Sub-total ​ 2,489 ​ ​ (191) ​ ​ — ​ ​ 2,298 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2 ​ Non-real estate loans receivable ​ 1,151 ​ ​ 191 ​ ​ — ​ ​ 1,342 3 ​ Non-real estate loans receivable ​ 3,903 ​ ​ 206 ​ ​ — ​ ​ 4,109 4 ​ Non-real estate loans receivable ​ 720 ​ ​ (110) ​ ​ — ​ ​ 610 5 ​ Non-real estate loans receivable ​ 43,404 ​ ​ 2,723 ​ ​ — ​ ​ 46,127 6 ​ Non-real estate loans receivable ​ 72,453 ​ ​ (605) ​ ​ (3,092) ​ ​ 68,756 ​ ​ Sub-total ​ 121,631 ​ ​ 2,405 (3) ​ (3,092) ​ ​ 120,944 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2 ​ Unfunded real estate loan commitments ​ 10 ​ ​ (5) ​ ​ — ​ ​ 5 3 ​ Unfunded real estate loan commitments ​ 335 ​ ​ 121 ​ ​ — ​ ​ 456 4 ​ Unfunded real estate loan commitments ​ 4,314 ​ ​ (4,239) ​ ​ — ​ ​ 75 5 ​ Unfunded real estate loan commitments ​ — ​ ​ 4,924 ​ ​ — ​ ​ 4,924 2 ​ Unfunded non-real estate loan commitments ​ 692 ​ ​ (112) ​ ​ — ​ ​ 580 3 ​ Unfunded non-real estate loan commitments ​ 46 ​ ​ (2) ​ ​ — ​ ​ 44 4 ​ Unfunded non-real estate loan commitments ​ 63 ​ ​ (21) ​ ​ — ​ ​ 42 5 ​ Unfunded non-real estate loan commitments ​ 1,594 ​ ​ (1,594) ​ ​ — ​ ​ — ​ ​ Sub-total ​ 7,054 ​ ​ (928) ​ ​ — ​ ​ 6,126 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ 222,164 ​ $ 10,738 ​ $ (3,092) ​ $ 229,810 ​ (1) During the three months ended March 31, 2024, we received proceeds of $2.3 million from the liquidating trust related to the $25.0 million senior unsecured debtor in possession facility to Gulf Coast Health Care LLC, which resulted in a recovery for credit losses of $2.3 million that is not included in the rollforward above since we had previously written-off the loan balance and related reserves. (2) Amount reflects the movement of reserves associated with Maplewood’s secured revolving credit facility due to an adjustment to the internal risk rating on the loan from a 4 to a 5 during the first quarter of 2024. See Note 5 – Real Estate Loans Receivable for additional information. (3) This amount includes cash recoveries of $1.2 million related to interest payments received on loans that are written down to fair value and are being accounted for under the cost recovery method in which any payments received are applied directly against the principal balance outstanding. This amount also includes $0.2 million related to principal payments received on loans that were fully reserved. A rollforward of our allowance for credit losses for the three months ended March 31, 2023 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Rating ​ Financial Statement Line Item Allowance for Credit Loss at December 31, 2022 ​ Provision (Recovery) for Credit Loss for the three months ended March 31, 2023 ​ Write-offs charged against allowance for the three months ended March 31, 2023 ​ Other additions to the allowance for the three months ended March 31, 2023 ​ Allowance for Credit Loss as of March 31, 2023 ​ ​ ​ (in thousands) 1 ​ Real estate loans receivable $ 162 ​ $ 351 ​ $ — ​ $ — ​ $ 513 2 ​ Real estate loans receivable ​ 157 ​ ​ (111) ​ ​ ​ ​ ​ — ​ ​ 46 3 ​ Real estate loans receivable ​ 15,110 ​ ​ (421) ​ ​ — ​ ​ — ​ ​ 14,689 4 ​ Real estate loans receivable ​ 33,666 ​ ​ (9,445) ​ ​ — ​ ​ — ​ ​ 24,221 6 ​ Real estate loans receivable ​ 52,265 ​ ​ (2,294) ​ ​ — ​ ​ — ​ ​ 49,971 ​ ​ Sub-total ​ 101,360 ​ ​ (11,920) ​ ​ — ​ ​ — ​ ​ 89,440 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5 ​ Investment in direct financing leases ​ 2,816 ​ ​ (193) ​ ​ — ​ ​ — ​ ​ 2,623 ​ ​ Sub-total ​ 2,816 ​ ​ (193) ​ ​ — ​ ​ — ​ ​ 2,623 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2 ​ Non-real estate loans receivable ​ 859 ​ ​ (567) ​ ​ — ​ ​ — ​ ​ 292 3 ​ Non-real estate loans receivable ​ 2,079 ​ ​ (1,727) ​ ​ — ​ ​ — ​ ​ 352 4 ​ Non-real estate loans receivable ​ 634 ​ ​ (361) ​ ​ — ​ ​ — ​ ​ 273 5 ​ Non-real estate loans receivable ​ 18,619 ​ ​ 66 ​ ​ — ​ ​ 25,200 (1) ​ 43,885 6 ​ Non-real estate loans receivable ​ 61,677 ​ ​ 8,086 ​ ​ — ​ ​ — ​ ​ 69,763 ​ ​ Sub-total ​ 83,868 ​ ​ 5,497 ​ ​ — ​ ​ 25,200 ​ ​ 114,565 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3 ​ Unfunded real estate loan commitments ​ — ​ ​ 2,660 ​ ​ — ​ ​ — ​ ​ 2,660 4 ​ Unfunded real estate loan commitments ​ 84 ​ ​ (62) ​ ​ — ​ ​ — ​ ​ 22 2 ​ Unfunded non-real estate loan commitments ​ 207 ​ ​ (96) ​ ​ — ​ ​ — ​ ​ 111 3 ​ Unfunded non-real estate loan commitments ​ 29 ​ ​ (23) ​ ​ — ​ ​ — ​ ​ 6 6 ​ Unfunded non-real estate loan commitments ​ — ​ ​ 80 ​ ​ — ​ ​ — ​ ​ 80 ​ ​ ​ ​ 320 ​ ​ 2,559 ​ ​ — ​ ​ — ​ ​ 2,879 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ 188,364 ​ $ (4,057) (2) $ — ​ $ 25,200 ​ $ 209,507 (1) This amount relates to the additional $25.2 million allowance recorded during the first quarter of 2023 to reserve the aggregate deferred rent amount that is included within Agemo Replacement Loan B. (2) The amount includes cash recoveries of $2.5 million related to interest payments received on loans that are written down to fair value and are being accounted for under the cost recovery method in which any payments received are applied directly against the principal balance outstanding. This amount also includes $0.4 million related to principal payments received on loans that were fully reserved.
Schedule by segment balance by vintage and credit quality indicator	A summary of our amortized cost basis by year of origination and credit quality indicator is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Rating Financial Statement Line Item 2024 2023 2022 2021 2020 2019 2018 & older Revolving Loans Balance as of March 31, 2024 ​ ​ (in thousands) 1 Real estate loans receivable $ — $ — $ 20,000 $ — $ — $ — $ 61,533 $ — $ 81,533 2 Real estate loans receivable ​ 11,700 ​ 8,257 ​ — ​ — ​ 21,325 ​ — ​ — ​ — ​ 41,282 3 Real estate loans receivable ​ 23,257 ​ 172,393 ​ 30,600 ​ 72,420 ​ — ​ — ​ — ​ — ​ 298,670 4 Real estate loans receivable ​ 6,016 ​ 89,594 ​ — ​ 30,627 ​ 82,781 ​ — ​ 439,965 ​ — ​ 648,983 5 Real estate loans receivable ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ 263,580 ​ 263,580 6 Real estate loans receivable ​ — ​ — ​ — ​ — ​ — ​ — ​ 12,922 ​ — ​ 12,922 ​ Sub-total ​ 40,973 ​ 270,244 ​ 50,600 ​ 103,047 ​ 104,106 ​ — ​ 514,420 ​ 263,580 ​ 1,346,970 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5 Investment in direct financing leases ​ — ​ — ​ — ​ — ​ — ​ — ​ 11,171 ​ — ​ 11,171 ​ Sub-total ​ — ​ — ​ — ​ — ​ — ​ — ​ 11,171 ​ — ​ 11,171 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2 Non-real estate loans receivable ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ 114,398 ​ 114,398 3 Non-real estate loans receivable ​ — ​ 88,276 ​ 20,000 ​ — ​ — ​ 3,653 ​ 667 ​ 8,550 ​ 121,146 4 Non-real estate loans receivable ​ — ​ 1,105 ​ — ​ — ​ — ​ 667 ​ 1,000 ​ 26,033 ​ 28,805 5 Non-real estate loans receivable ​ — ​ 4,190 ​ — ​ — ​ — ​ 2,274 ​ 47,117 ​ — ​ 53,581 6 Non-real estate loans receivable ​ — ​ 5,924 ​ 24,457 ​ 7,851 ​ — ​ — ​ 29,567 ​ 4,557 ​ 72,356 ​ Sub-total ​ — ​ 99,495 ​ 44,457 ​ 7,851 ​ — ​ 6,594 ​ 78,351 ​ 153,538 ​ 390,286 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total $ 40,973 $ 369,739 $ 95,057 $ 110,898 $ 104,106 $ 6,594 $ 603,942 $ 417,118 $ 1,748,427 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year to date gross write-offs $ — $ — $ — $ — $ — $ — $ (3,092) $ — $ (3,092)

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	3 Months Ended
	Mar. 31, 2024
Variable Interest Entities [Abstract]
Schedule of Variable Interest Entities	Below is a summary of our assets, liabilities, collateral and maximum exposure to loss associated with these unconsolidated VIEs as of March 31, 2024 and December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2024 ​ 2023 ​ ​ ​ (in thousands) ​ Assets ​ ​ ​ ​ ​ ​ ​ Real estate assets – net ​ $ 1,012,089 ​ $ 996,540 ​ Assets held for sale ​ ​ — ​ ​ 66,130 ​ Real estate loans receivable – net ​ 400,068 ​ ​ 370,147 ​ Investments in unconsolidated joint ventures ​ ​ 9,016 ​ ​ 9,009 ​ Non-real estate loans receivable – net ​ 9,965 ​ ​ 10,679 ​ Contractual receivables – net ​ 544 ​ ​ 746 ​ Other assets ​ ​ 711 ​ ​ 1,423 ​ Total assets ​ 1,432,393 ​ 1,454,674 ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ Accrued expenses and other liabilities ​ ​ (47,048) ​ ​ (46,677) ​ Total liabilities ​ (47,048) ​ (46,677) ​ ​ ​ ​ ​ ​ ​ ​ ​ Collateral ​ ​ ​ Personal guarantee ​ (48,000) ​ ​ (48,000) ​ Other collateral (1) ​ (1,078,671) ​ ​ (1,105,383) ​ Total collateral ​ (1,126,671) ​ ​ (1,153,383) ​ ​ ​ ​ ​ ​ ​ ​ ​ Maximum exposure to loss ​ $ 258,674 ​ $ 254,614 ​ (1) Amount excludes accounts receivable that Omega has a security interest in as collateral under the two loans with operators that are unconsolidated VIEs. The fair value of the accounts receivable available to Omega was $8.1 million and $8.9 million as of March 31, 2024 and December 31, 2023, respectively.
Schedule of Variable Interest Entities revenue	The table below reflects our total revenues from the operators that are considered unconsolidated VIEs for the three months ended March 31, 2024 and 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ ​ 2024 ​ 2023 ​ ​ ​ (in thousands) Revenue ​ ​ ​ Rental income ​ ​ $ 19,128 ​ $ 9,838 Interest income ​ ​ 2,964 ​ 2,106 Total ​ ​ $ 22,092 ​ $ 11,944

INVESTMENT IN JOINT VENTURES (T

INVESTMENT IN JOINT VENTURES (Tables)	3 Months Ended
	Mar. 31, 2024
INVESTMENTS IN JOINT VENTURES [Abstract]
Schedule of equity method investments	The following is a summary of our investments in unconsolidated joint ventures (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Amount ​ ​ Ownership ​ Facility ​ Facility ​ March 31, ​ December 31, Entity ​ % (1) ​ Type ​ Count (1) ​ 2024 2023 Second Spring Healthcare Investment ​ 15% ​ SNF ​ — ​ $ 8,336 $ 8,945 Lakeway Realty, L.L.C. (2) ​ 51% ​ Specialty facility ​ 1 ​ ​ 68,569 ​ ​ 68,902 Cindat Joint Venture ​ 49% ​ ALF ​ 63 ​ ​ 95,979 ​ ​ 97,559 OMG Senior Housing, LLC ​ 50% ​ Specialty facility ​ 1 ​ — ​ — OH CHS SNP, Inc. ​ 9% ​ N/A ​ N/A ​ ​ 794 ​ ​ 752 RCA NH Holdings RE Co., LLC (2)(3) ​ 20% ​ SNF ​ 5 ​ ​ 3,400 ​ ​ 3,400 WV Pharm Holdings, LLC (2)(3) ​ 20% ​ N/A ​ N/A ​ ​ 3,000 ​ ​ 3,000 OMG-Form Senior Holdings, LLC (2)(3) ​ 49% ​ ALF ​ 1 ​ ​ 2,617 ​ ​ 2,609 CHS OHI Insight Holdings, LLC ​ 25% ​ N/A ​ N/A ​ ​ 3,242 ​ ​ 3,242 ​ ​ ​ ​ ​ ​ ​ ​ $ 185,937 ​ $ 188,409 (1) Ownership percentages and facility counts are as of March 31, 2024. (2) As of March 31, 2024 and December 31, 2023, we have an aggregate of $79.6 million of loans outstanding with these joint ventures. (3) These joint ventures are unconsolidated VIEs and therefore are included in the tables in Note 8 – Variable Interest Entities. ​ The following table reflects our income (loss) from unconsolidated joint ventures for the three months ended March 31, 2024 and 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, Entity ​ 2024 2023 ​ ​ (in thousands) Second Spring Healthcare Investments ​ $ 235 ​ $ 289 Lakeway Realty, L.L.C. ​ ​ 691 ​ 679 Cindat Joint Venture ​ (705) ​ 1 OMG Senior Housing, LLC ​ (112) ​ (220) OH CHS SNP, Inc. ​ 42 ​ 82 OMG-Form Senior Holdings, LLC ​ ​ (53) ​ ​ — Total ​ $ 98 ​ $ 831 ​

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Other Intangibles [Abstract]
Schedule of Reconciliation of Goodwill	The following is a summary of our goodwill as of March 31, 2024 and December 31, 2023: ​ ​ ​ ​ ​ (in thousands) Balance as of December 31, 2023 ​ $ 643,897 Foreign currency translation ​ (119) Balance as of March 31, 2024 ​ $ 643,778
Schedule of Intangibles	The following is a summary of our intangible assets and liabilities as of March 31, 2024 and December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ ​ (in thousands) ​ Assets: ​ ​ ​ ​ Above market leases ​ $ 4,214 ​ $ 4,214 ​ Accumulated amortization ​ (3,547) (3,532) ​ Net above market leases ​ $ 667 ​ $ 682 ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities: ​ ​ ​ ​ Below market leases ​ $ 48,791 ​ $ 48,791 ​ Accumulated amortization ​ (37,723) (37,177) ​ Net below market leases ​ $ 11,068 ​ $ 11,614 ​ ​

STOCKHOLDERS EQUITY (Tables)

STOCKHOLDERS EQUITY (Tables)	3 Months Ended
	Mar. 31, 2024
Stockholders Equity [Abstract]
Schedule of common stock dividends	The following is a summary of our declared cash dividends on common stock: ​ ​ ​ ​ ​ ​ Record ​ Payment ​ Dividend per Date Date Common Share February 5, 2024 ​ February 15, 2024 ​ $ 0.67 April 30, 2024 ​ May 15, 2024 ​ ​ 0.67
Schedule of dividend reinvestment and common stock purchase plan	The following is a summary of the shares issued under the Dividend Reinvestment and Common Stock Purchase Plan for the three months ended March 31, 2024 and 2023 (in thousands): ​ ​ ​ ​ ​ ​ ​ Period Ended Shares issued ​ Gross Proceeds Three Months Ended March 31, 2023 82 ​ $ 2,278 Three Months Ended March 31, 2024 29 ​ ​ 882
Schedule of ATM Issuances	The following is a summary of the shares issued under our $1.0 billion At-The-Market Offering Program (“ATM Program”) for the three months ended March 31, 2024 and 2023 (in thousands except average price per share): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average Net Price ​ ​ ​ ​ ​ Period Ended Shares issued Per Share (1) Gross Proceeds Net Proceeds Three Months Ended March 31, 2023 — $ — $ — $ — Three Months Ended March 31, 2024 1,041 ​ 30.49 ​ 32,295 ​ 31,738 (1) Represents the average price per share after issuance costs.
Schedule of accumulated other comprehensive income (loss)	The following is a summary of our accumulated other comprehensive income (loss), net of tax where applicable: ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ 2024 2023 ​ (in thousands) Foreign currency translation $ (55,780) $ (69,170) Derivative instruments designated as cash flow hedges (1) ​ 81,988 ​ ​ 76,806 Derivative instruments designated as net investment hedges 5,653 ​ 13,593 Total accumulated other comprehensive income before noncontrolling interest 31,861 ​ 21,229 Add: portion included in noncontrolling interest (9) ​ 304 Total accumulated other comprehensive income for Omega $ 31,852 ​ $ 21,533 (1) During the three months ended March 31, 2024 and 2023, we reclassified $2.6 million and $1.1 million, respectively, of realized gains out of accumulated other comprehensive income into interest expense on our Consolidated Statements of Operations associated with our cash flow hedges.

TAXES (Tables)

TAXES (Tables)	3 Months Ended
	Mar. 31, 2024
Taxes [Abstract]
Schedule of components of income tax expense	The following is a summary of our provision for income taxes: ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2024 2023 ​ (in millions) Federal, state and local income tax expense $ 0.5 $ 0.3 Foreign income tax expense (benefit) (1) ​ 2.1 ​ (1.6) Total income tax expense (benefit) (2) $ 2.6 ​ $ (1.3) (1) The benefit for the three months ended March 31, 2023 primarily relates to adjustments made to our deferred tax assets and liabilities as a result of the majority of our U.K. portfolio electing to enter into the U.K. REIT regime effective April 1, 2023. (2) The above amounts do not include gross income receipts or franchise taxes payable to certain states and municipalities.
Schedule of deferred tax assets and liabilities	The following is a summary of deferred tax assets and liabilities (which are recorded in other assets and accrued expenses and other liabilities in our Consolidated Balance Sheets): ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2024 2023 ​ ​ (in thousands) U.S. Federal net operating loss carryforward ​ $ 2,048 ​ $ 2,079 Valuation allowance on deferred tax asset ​ (1,996) ​ (2,024) Foreign net operating loss carryforward ​ ​ 8,857 ​ ​ 9,491 Net deferred tax asset ​ $ 8,909 ​ $ 9,546 ​ ​ ​ ​ ​ ​ ​ Foreign deferred tax liability (1) ​ $ 1,426 ​ $ 1,508 Net deferred tax liability ​ $ 1,426 ​ $ 1,508 (1) The deferred tax liability resulted from book to tax differences recorded in the U.S. relating to depreciation and revenue recognition in the U.K. recognized upon the majority of our U.K. portfolio entering the U.K. REIT regime effective April 1, 2023.

BORROWING ACTIVITIES AND ARRA_2

BORROWING ACTIVITIES AND ARRANGEMENTS (Tables)	3 Months Ended
	Mar. 31, 2024
BORROWING ACTIVITIES AND ARRANGEMENTS [Abstract]
Schedule of Borrowings	The following is a summary of our borrowings: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Annual ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest Rate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ as of ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ ​ March 31, ​ December 31, ​ Maturity 2024 ​ 2024 2023 ​ ​ ​ ​ (in thousands) Secured borrowings: ​ ​ ​ HUD mortgages (1) ​ 2049 - 2051 ​ N/A ​ ​ $ — ​ $ 41,878 2024 term loan (2) 2024 10.83 % ​ ​ 20,145 ​ ​ 20,085 Total secured borrowings ​ ​ ​ ​ ​ ​ ​ 20,145 ​ ​ 61,963 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unsecured borrowings: ​ ​ ​ Revolving credit facility (3)(4) 2025 6.64 % ​ 20,213 ​ 20,397 ​ ​ ​ ​ ​ ​ ​ ​ 20,213 ​ ​ 20,397 Senior notes and other unsecured borrowings: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 notes (3)(5) 2024 4.95 % ​ 400,000 ​ 400,000 2025 notes (3) 2025 4.50 % ​ 400,000 ​ 400,000 2026 notes (3) 2026 5.25 % ​ 600,000 ​ 600,000 2027 notes (3) 2027 4.50 % ​ 700,000 ​ 700,000 2028 notes (3) 2028 4.75 % ​ 550,000 ​ 550,000 2029 notes (3) 2029 3.63 % ​ 500,000 ​ 500,000 2031 notes (3) ​ 2031 ​ 3.38 % ​ ​ 700,000 ​ ​ 700,000 2033 notes (3) ​ 2033 ​ 3.25 % ​ ​ 700,000 ​ ​ 700,000 2025 term loan (3)(6) ​ 2025 5.60 % ​ 428,500 ​ 428,500 OP term loan (7)(8) 2025 5.52 % ​ 50,000 ​ 50,000 Deferred financing costs – net ​ ​ ​ (18,958) ​ (20,442) Discount – net ​ ​ (21,748) ​ (23,102) Total senior notes and other unsecured borrowings – net ​ ​ 4,987,794 ​ 4,984,956 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total unsecured borrowings – net ​ ​ 5,008,007 ​ 5,005,353 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total secured and unsecured borrowings – net (9)(10) ​ ​ $ 5,028,152 ​ $ 5,067,316 (1) Wholly owned subsidiaries of Omega OP were the obligors on these borrowings. During the first quarter of 2024, the remaining nine HUD mortgages with outstanding principal of $41.6 million were paid off. The payoff also included a $1.3 million prepayment fee, which is included in loss on debt extinguishment on our Consolidated Statements of Operations. (2) Borrowing is the debt of the consolidated joint venture discussed in Note 8 – Variable Interest Entities which was formed in the first quarter of 2022. The borrowing is secured by two ALFs, which are owned by the joint venture. During the first quarter of 2024, this loan was extended from February 29, 2024 to April 30, 2024 . During the second quarter of 2024, the company repaid this loan using available cash and proceeds from our revolving credit facility. (3) Guaranteed by Omega OP. (4) As of March 31, 2024, borrowings under Omega’s $1.45 billion senior unsecured multicurrency revolving credit facility consisted of £16.0 million British Pounds Sterling (“GBP”). The applicable interest rate on the U.S. Dollar tranche and on the GBP borrowings under the alternative currency tranche of the credit facility were 6.64% and 6.51% as of March 31, 2024, respectively. (5) The Company repaid the $400 million of 4.95% senior notes on the April 1, 2024 maturity date using available cash and proceeds from our revolving credit facility. (6) The weighted average interest rate of the $428.5 million 2025 term loan has been adjusted to reflect the impact of the interest rate swaps that effectively fix the SOFR-based portion of the interest rate at 4.047% . (7) Omega OP is the obligor on this borrowing. (8) The weighted average interest rate of the $50 million OP term loan has been adjusted to reflect the impact of the interest rate swaps that effectively fix the SOFR-based portion of the interest rate at 3.957% . (9) All borrowings are direct borrowings of Parent unless otherwise noted. (10) Certain of our other secured and unsecured borrowings are subject to customary affirmative and negative covenants, including financial covenants. As of March 31, 2024 and December 31, 2023, we were in compliance with all applicable covenants for our borrowings .

DERIVATIVES AND HEDGING (Tables

DERIVATIVES AND HEDGING (Tables)	3 Months Ended
	Mar. 31, 2024
DERIVATIVES AND HEDGING [Abstract]
Location and the fair value of derivative instruments designated as hedges	The location and fair value of derivative instruments designated as hedges, at the respective balance sheet dates, were as follows: ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2024 2023 Cash flow hedges: (in thousands) Other assets $ 1,745 ​ $ — Accrued expenses and other liabilities $ 325 ​ $ 6,533 ​ ​ ​ ​ ​ ​ Net investment hedges: ​ ​ ​ ​ ​ Other assets $ 2,835 ​ $ 8,903 Accrued expenses and other liabilities $ 646 ​ $ 8

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2024
Financial Instruments [Abstract]
Schedule of Financial Instruments	At March 31, 2024 and December 31, 2023, the net carrying amounts and fair values of our other financial instruments were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2024 ​ December 31, 2023 ​ Carrying Fair Carrying Fair ​ Amount Value Amount Value ​ ​ (in thousands) Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investments in direct financing leases – net $ 8,873 ​ $ 8,873 $ 8,716 $ 8,716 Real estate loans receivable – net ​ 1,246,528 ​ 1,221,793 ​ 1,212,162 ​ 1,258,838 Non-real estate loans receivable – net ​ 269,342 ​ 276,042 ​ 275,615 ​ 279,710 Total ​ $ 1,524,743 ​ $ 1,506,708 ​ $ 1,496,493 ​ $ 1,547,264 Liabilities: ​ ​ ​ ​ Revolving credit facility ​ $ 20,213 ​ $ 20,213 ​ $ 20,397 ​ $ 20,397 2024 term loan ​ 20,145 ​ 19,750 ​ 20,085 ​ 19,750 2025 term loan ​ ​ 425,257 ​ ​ 428,500 ​ ​ 424,662 ​ ​ 428,500 OP term loan ​ 49,890 ​ 50,000 ​ 49,864 ​ 50,000 4.95% notes due 2024 – net ​ 400,000 ​ 400,000 ​ 399,747 ​ 398,888 4.50% notes due 2025 – net ​ 399,397 ​ 395,600 ​ 399,207 ​ 393,240 5.25% notes due 2026 – net ​ 598,730 ​ 596,094 ​ 598,553 ​ 596,508 4.50% notes due 2027 – net ​ 695,668 ​ 677,411 ​ 695,302 ​ 671,538 4.75% notes due 2028 – net ​ 546,177 ​ 530,992 ​ 545,925 ​ 528,704 3.63% notes due 2029 – net ​ ​ 493,401 ​ ​ 446,305 ​ ​ 493,099 ​ ​ 440,785 3.38% notes due 2031 – net ​ ​ 687,620 ​ ​ 597,492 ​ ​ 687,172 ​ ​ 594,734 3.25% notes due 2033 – net ​ ​ 691,654 ​ ​ 566,881 ​ ​ 691,425 ​ ​ 564,809 HUD mortgages – net ​ ​ — ​ ​ — ​ ​ 41,878 ​ ​ 31,322 Total ​ $ 5,028,152 ​ $ 4,729,238 ​ $ 5,067,316 ​ $ 4,739,175

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2024
COMMITMENTS AND CONTINGENCIES [Abstract]
Schedule of remaining commitments	We expect the funding of these commitments to be completed over the next several years. Our remaining commitments at March 31, 2024, are outlined in the table below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lessor construction and capital commitments under lease agreements ​ $ 162,651 ​ ​ Non-real estate loan commitments ​ 43,304 ​ ​ Real estate loan commitments ​ 51,092 ​ ​ Total remaining commitments (1) ​ $ 257,047 ​ ​ (1) Includes finance costs .

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings per Share	The following tables set forth the computation of basic and diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2024 2023 ​ ​ (in thousands, except per share amounts) Numerator: ​ ​ Net income available to common stockholders – basic ​ $ 67,361 ​ $ 35,942 Add: net income attributable to OP Units ​ 2,036 ​ 1,048 Net income available to common stockholders – diluted ​ $ 69,397 ​ $ 36,990 Denominator: ​ ​ Denominator for basic earnings per share ​ 246,071 ​ 234,954 Effect of dilutive securities: ​ ​ ​ ​ Common stock equivalents ​ 3,756 ​ 1,384 Noncontrolling interest – Omega OP Units ​ 7,437 ​ 6,850 Denominator for diluted earnings per share ​ 257,264 ​ 243,188 ​ ​ ​ ​ ​ ​ ​ Earnings per share – basic: ​ ​ Net income available to common stockholders ​ $ 0.27 ​ $ 0.15 Earnings per share – diluted: ​ ​ Net income available to common stockholders ​ $ 0.27 ​ $ 0.15 ​

SUPPLEMENTAL DISCLOSURE TO CO_2

SUPPLEMENTAL DISCLOSURE TO CONSOLIDATED STATEMENTS OF CASH FLOWS (Tables)	3 Months Ended
	Mar. 31, 2024
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Schedule of Cash Flow Supplemental Disclosures	The following are supplemental disclosures to the Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2024 2023 ​ (in thousands) ​ Reconciliation of cash and cash equivalents and restricted cash: ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 361,773 ​ $ 245,182 ​ Restricted cash ​ 1,253 ​ 3,336 ​ Cash, cash equivalents and restricted cash at end of period ​ $ 363,026 ​ $ 248,518 ​ ​ ​ ​ ​ ​ ​ ​ ​ Supplemental information: ​ ​ ​ ​ ​ Interest paid during the period, net of amounts capitalized ​ $ 58,412 ​ $ 61,451 ​ Taxes paid during the period ​ $ 1,249 ​ $ 1,636 ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-cash financing activities: ​ ​ ​ Change in fair value of hedges ​ $ 9,675 ​ $ (13,516) ​ Remeasurement of debt denominated in a foreign currency ​ $ (184) ​ $ 538 ​ ​

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) segment facility	Apr. 30, 2024 facility	Dec. 31, 2023 USD ($)
Basis Of Presentation And Significant Accounting Policies [Line Items]
Number of reportable segment | segment	1
Number of Operating Segments | segment	1
Number of real estate properties | facility	896
Real estate assets - net	$ 5,834,297		$ 5,888,096
Assets held for sale	81,546		81,546
Previously Reported [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Assets held for sale			$ 93,700
Restatement Adjustment [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Real estate assets - net	$ 12,200
Omega OP Units
Basis Of Presentation And Significant Accounting Policies [Line Items]
Ownership by parent	97%
Ownership by noncontrolling interest	3%
Guardian [Member] | Subsequent Event [Member] | Facilities Being Transitioned To Other Operator [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Number of real estate properties | facility		6

REAL ESTATE ASSET (Narrative) (

REAL ESTATE ASSET (Narrative) (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) facility property item	Mar. 31, 2023 USD ($)
Real Estate Properties [Line Items]
Number of Facilities	896
Number of projects | item	2
Payments for construction in progress and capital improvement programs | $	$ 21,400	$ 10,100
Payment for real estate acquisition | $	$ 13,262	$ 26,383
Skilled Nursing Facilities [Member]
Real Estate Properties [Line Items]
Number of Facilities	590
Assisted Living Facilities [Member]
Real Estate Properties [Line Items]
Number of Facilities	189
Independent Living Facilities [Member]
Real Estate Properties [Line Items]
Number of Facilities | property	19
Medical Office Building [Member]
Real Estate Properties [Line Items]
Number of Facilities	1
Facilities Leased | Skilled Nursing Facilities [Member]
Real Estate Properties [Line Items]
Number of Facilities	589
Facilities Leased | Assisted Living Facilities [Member]
Real Estate Properties [Line Items]
Number of Facilities	189
Facilities Leased | Independent Living Facilities [Member]
Real Estate Properties [Line Items]
Number of Facilities	19
Facilities Leased | Specialty Facility
Real Estate Properties [Line Items]
Number of Facilities	19
Facilities Leased | Medical Office Building [Member]
Real Estate Properties [Line Items]
Number of Facilities	1

REAL ESTATE ASSETS (Schedule of

REAL ESTATE ASSETS (Schedule of operating and direct financing lease income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
REAL ESTATE ASSETS [Abstract]
Fixed income from operating leases	$ 203,292	$ 185,327
Variable income from operating leases	3,377	3,750
Interest income from direct financing leases	252	254
Total rental income	$ 206,921	$ 189,331

REAL ESTATE ASSETS (Schedule _2

REAL ESTATE ASSETS (Schedule of Significant Acquisitions) (Detail) $ in Thousands	1 Months Ended	3 Months Ended
	Apr. 30, 2024	Mar. 31, 2024 USD ($) facility property	Dec. 31, 2023 USD ($)
Real Estate Properties [Line Items]
Number of real estate properties		896
Real Estate Assets Acquired | $		$ 13,300
Initial Annual Cash Yield (%)	11.50%
Deferred tax assets related to net operating loss carryforwards | $		8,857	$ 9,491
Deferred income tax liability | $		1,426	1,508
Real estate investments - net | $		5,834,297	$ 5,888,096
United Kingdom
Real Estate Properties [Line Items]
Real Estate Assets Acquired | $		$ 5,200
Initial Annual Cash Yield (%)		9.50%
West Virginia
Real Estate Properties [Line Items]
Real Estate Assets Acquired | $		$ 8,100
Initial Annual Cash Yield (%)		10%
Skilled Nursing Facilities [Member]
Real Estate Properties [Line Items]
Number of real estate properties		590
Assisted Living Facilities [Member]
Real Estate Properties [Line Items]
Number of real estate properties		189
Specialty [Member]
Real Estate Properties [Line Items]
Number of real estate properties | property		19
Medical Office Building [Member]
Real Estate Properties [Line Items]
Number of real estate properties		1
Facilities Acquired | Skilled Nursing Facilities [Member]
Real Estate Properties [Line Items]
Number of real estate properties		1
Facilities Acquired | Skilled Nursing Facilities [Member] | West Virginia
Real Estate Properties [Line Items]
Number of real estate properties		1
Facilities Acquired | Assisted Living Facilities [Member]
Real Estate Properties [Line Items]
Number of real estate properties		1
Facilities Acquired | Assisted Living Facilities [Member] | United Kingdom
Real Estate Properties [Line Items]
Number of real estate properties		1

ASSETS HELD FOR SALE, DISPOSI_3

ASSETS HELD FOR SALE, DISPOSITIONS AND IMPAIRMENTS (Schedule of Properties Held-for-Sale) (Details) $ in Thousands	Mar. 31, 2024 USD ($)	Mar. 31, 2024 facility	Mar. 31, 2024 property	Dec. 31, 2023 USD ($) facility
Number of real estate properties | facility		896
Amount of Assets Held for Sale | $	$ 81,546			$ 81,546
Facilities Held for Sale [Member]
Number of real estate properties		16	16	16

ASSETS HELD FOR SALE, DISPOSI_4

ASSETS HELD FOR SALE, DISPOSITIONS AND IMPAIRMENTS (General Narrative) (Details) $ in Thousands	Mar. 31, 2024 USD ($) facility	Dec. 31, 2023 USD ($)
Number of real estate properties | facility	896
Real estate assets - net	$ 5,834,297	$ 5,888,096
Less accumulated depreciation	2,526,536	2,464,227
Buildings and improvements	6,866,358	6,879,034
Land	865,028	867,486
Furniture and equipment	$ 467,178	$ 467,393
Facilities Reclassified From Assets Held For Sale to Assets Held For Use [Member]
Number of real estate properties | facility	1
Facilities Reclassified From Assets Held For Sale to Assets Held For Use [Member] | 1 Facility
Real estate assets - net	$ 12,200
Less accumulated depreciation	5,400
Buildings and improvements	15,900
Land	600
Furniture and equipment	$ 1,100

ASSETS HELD FOR SALE, DISPOSI_5

ASSETS HELD FOR SALE, DISPOSITIONS AND IMPAIRMENTS (Asset Sales) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) facility property	Mar. 31, 2023 USD ($) facility
Number of real estate properties	896
Interest received recorded as contract liability | $	$ 0.3	$ 2.1
Medical Office Building [Member]
Number of real estate properties	1
Skilled Nursing Facilities [Member]
Number of real estate properties	590
Independent Living Facilities [Member]
Number of real estate properties | property	19
Assisted Living Facilities [Member]
Number of real estate properties	189
2 Facilities
Total proceeds | $		17.6
Amount of gain (loss) from sale of facilities | $		$ 13.6
4 Facilities
Total proceeds | $	$ 10.1
Amount of gain (loss) from sale of facilities | $	$ (1.4)
Facilities Sold
Number of real estate properties	4	2
Facilities Sold | Medical Office Building [Member]
Number of real estate properties		1
Facilities Sold | Skilled Nursing Facilities [Member]
Number of real estate properties		1
Facilities Sold | 4 Facilities | Skilled Nursing Facilities [Member]
Number of real estate properties	4

ASSETS HELD FOR SALE, DISPOSI_6

ASSETS HELD FOR SALE, DISPOSITIONS AND IMPAIRMENTS (Real Estate Impairment) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) facility	Mar. 31, 2023 USD ($) facility
Impairment of Real Estate	$ 5,292	$ 38,988
Number of Facilities | facility	896
Facilities With Impairment Charges Held For Use [Member]
Number of Facilities | facility	3
3 Facilities | Facilities With Impairment Charges Held For Use [Member]
Impairment of Real Estate	$ 5,300
1 of 3 Facilities | Facilities With Impairment Charges Held For Use Later Closed [Member]
Impairment of Real Estate	$ 1,300
4 Facilities | Facilities With Impairment Charges [Member]
Impairment of Real Estate		$ 39,000
Number of Facilities | facility		4
2 of 4 Facilities | Facilities With Impairment Charges Held For Use [Member]
Impairment of Real Estate		$ 37,000
Number of Facilities | facility		2
2 of 4 Facilities Second | Facilities With Impairment Charges Held For Sale [Member]
Impairment of Real Estate		$ 2,000
Number of Facilities | facility		2
1 of 2 Facilities | Facilities With Impairment Charges Held For Use Later Closed [Member]
Impairment of Real Estate		$ 27,500
Number of Facilities | facility		1

CONTRACTUAL RECEIVABLES AND O_3

CONTRACTUAL RECEIVABLES AND OTHER RECEIVABLES AND LEASE INDUCEMENTS (Schedule of Net Accounts Receivable) (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
CONTRACTUAL RECEIVABLES AND OTHER RECEIVABLES AND LEASE INDUCEMENTS [Abstract]
Contractual receivables - net	$ 10,973	$ 11,888
Effective yield interest receivables	2,363	3,127
Straight-line rent receivables	212,399	202,748
Lease inducements	8,519	8,782
Other receivables and lease inducements	$ 223,281	$ 214,657

CONTRACTUAL RECEIVABLES AND O_4

CONTRACTUAL RECEIVABLES AND OTHER RECEIVABLES AND LEASE INDUCEMENTS (Cash Basis Operators and Straight Line Receivable Write Offs Narrative) (Details)	3 Months Ended
	Mar. 31, 2024 contract item	Mar. 31, 2023 item
Number of operators | contract	78
Operator Placed On Cash Basis [Member]
Number of operators	1	0
20 Operators Placed On Cash Basis [Member]
Number of operators	20
20 Operators Placed On Cash Basis [Member] | Revenue, Product and Service Benchmark [Member] | Customer Concentration Risk [Member]
Concentration risk, percentage	18.40%	20.50%

CONTRACTUAL RECEIVABLES AND O_5

CONTRACTUAL RECEIVABLES AND OTHER RECEIVABLES AND LEASE INDUCEMENTS (Rent Deferrals and Applications of Collateral Narrative) (Details) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2024 USD ($) item	Mar. 31, 2023 USD ($) item	Dec. 31, 2023 USD ($)
Number of operators in which deferred rent was allowed | item	3	8
Number of operators in which deferred rent payments were received | item	3	3
Deferred aggregate rent	$ 0.9	$ 24.4
The number of operators in which security deposit was applied to pay rent | item	4	3
Security deposit used against uncollected receivables	$ 0.5	$ 5.2
Deferred rent received	0.5	$ 0.2
Maplewood Real Estate Holdings
Deferred aggregate rent	$ 0.7
Security deposit used against uncollected receivables			$ 4.8

CONTRACTUAL RECEIVABLES AND O_6

CONTRACTUAL RECEIVABLES AND OTHER RECEIVABLES AND LEASE INDUCEMENTS (Operator Collectibility - Maplewood) (Details) - USD ($)	1 Months Ended	3 Months Ended		12 Months Ended
	Apr. 30, 2024	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Interest income related to loans on non-accrual status		$ 1,000,000	$ 1,500,000
Interest income		35,836,000	28,420,000
Security deposit used against uncollected receivables		500,000	5,200,000
Investment Type Characteristic Real Estate Related Loans [Member]
Interest income		28,739,000	23,397,000
Investment Type Characteristic Real Estate Related Loans [Member] | Other Real Estate Loans [Member]
Interest income		8,896,000	6,849,000
Maplewood Real Estate Holdings
Rental income		11,300,000	17,300,000
Short paid amount of rent paid		6,500,000
Contractual income expected to be received, rent and interest		17,800,000
Contractual rent income expected to be received		17,300,000		$ 69,300,000
Contractual interest income expected to be received		500,000
Termination fee incurred cost			12,500,000
Security deposit used against uncollected receivables				$ 4,800,000
Maplewood Real Estate Holdings | Subsequent Event [Member]
Short paid amount of rent paid	$ 2,200,000
Maplewood Real Estate Holdings | Other Real Estate Loans Due 2035 [Member]
Contractual interest income expected to be received		500,000
Maplewood Real Estate Holdings | Investment Type Characteristic Real Estate Related Loans [Member] | Other Real Estate Loans Due 2035 [Member]
Interest income		$ 0	$ 1,500,000

CONTRACTUAL RECEIVABLES AND O_7

CONTRACTUAL RECEIVABLES AND OTHER RECEIVABLES AND LEASE INDUCEMENTS (Operator Collectibility - LaVie) (Details)	1 Months Ended		3 Months Ended
	Apr. 30, 2024 USD ($)	Mar. 31, 2024 USD ($) facility	Mar. 31, 2024 USD ($) facility	Mar. 31, 2023 USD ($) facility
Number of real estate properties | facility		896	896
Interest income related to loans on non-accrual status			$ 1,000,000	$ 1,500,000
Facilities Sold
Number of real estate properties | facility		4	4	2
LaVie Care Centers LLC (f/k/a Consulate Health Care)
Monthly expected payment amount to be received		$ 3,200,000
Rental income			$ 4,400,000	$ 7,400,000
Short paid amount of rent paid			5,500,000
Contractual rent income expected to be received			9,900,000
Interest income related to loans on non-accrual status			$ 0	$ 0
LaVie Care Centers LLC (f/k/a Consulate Health Care) | Subsequent Event [Member]
Rental income	$ 1,500,000
Short paid amount of rent paid	1,700,000
Contractual rent income expected to be received	$ 3,200,000
LaVie Care Centers LLC (f/k/a Consulate Health Care) | Facilities Being Transitioned To Other Operator [Member]
Number of real estate properties | facility		2	2
LaVie Care Centers LLC (f/k/a Consulate Health Care) | Facilities Sold
Number of real estate properties | facility		2	2

CONTRACTUAL RECEIVABLES AND O_8

CONTRACTUAL RECEIVABLES AND OTHER RECEIVABLES AND LEASE INDUCEMENTS (Operator Collectibility - Guardian) (Details) $ in Millions	1 Months Ended	3 Months Ended
	Apr. 30, 2024 USD ($) facility	Mar. 31, 2024 USD ($) facility	Mar. 31, 2023 USD ($)
Security deposit used against uncollected receivables		$ 0.5	$ 5.2
Number of real estate properties | facility		896
Facilities Being Transitioned To Other Operator [Member] | Subsequent Event [Member] | Maximum [Member] | Forecast [Member]
Contractual rent income expected to be received	$ 12.4
Guardian [Member]
Rental income		$ 0.1	$ 3.8
Security deposit used against uncollected receivables		$ 0.1
Guardian [Member] | Facilities Being Transitioned To Other Operator [Member] | Subsequent Event [Member]
Number of real estate properties | facility	6
Guardian [Member] | Facilities Being Transitioned To Other Operator [Member] | Subsequent Event [Member] | Minimum [Member]
Contractual rent income expected to be received	$ 5.5

CONTRACTUAL RECEIVABLES AND O_9

CONTRACTUAL RECEIVABLES AND OTHER RECEIVABLES AND LEASE INDUCEMENTS (Operator Collectibility - Agemo) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Interest income related to loans on non-accrual status	$ 1,000,000	$ 1,500,000
Agemo Holdings LLC [Member]
Rental income	6,000,000	0
Interest income related to loans on non-accrual status	$ 0	$ 0

CONTRACTUAL RECEIVABLES AND _10

CONTRACTUAL RECEIVABLES AND OTHER RECEIVABLES AND LEASE INDUCEMENTS (Operator Collectibility - Other) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) item facility	Mar. 31, 2024 facility
Number of real estate properties		896
Number operators in which facilities were transitioned | item	3
43 Facilities
Number of real estate properties	43
Contractual rent income expected to be received | $	$ 43.3
Certain Facilities of the 43 Facilities [Member]
Termination fee incurred cost | $	$ 15.5
Facilities Transitioned From 3 Cash Basis Operators To Other Operators [Member]
Number of real estate properties	43

REAL ESTATE LOANS RECEIVABLE (N

REAL ESTATE LOANS RECEIVABLE (Narrative) (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) facility state loan item property	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of real estate properties | facility	896
Number of states | state	42
Payments to acquire loans receivable	$ 48,113	$ 31,240
Skilled Nursing Facilities [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of real estate properties | facility	590
Assisted Living Facilities [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of real estate properties | facility	189
Facilities Under Fixed Rate Mortgage Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of real estate properties | facility	62
Facilities Under Fixed Rate Mortgage Loans [Member] | Skilled Nursing Facilities [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of real estate properties | property	47
Facilities Under Fixed Rate Mortgage Loans [Member] | Assisted Living Facilities [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of real estate properties | property	12
Mortgage Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of fixed rate mortgage | item	13
Number of states | state	11
Number of independent healthcare operating companies operating under mortgage notes receivable | item	12
Financing receivable, gross	$ 792,045		$ 754,437
Other Real Estate Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of other real estate loans | loan	15
Financing receivable, gross	$ 554,925		$ 548,715
Seven New Real Estate Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans, real estate | loan	7
Financing receivable, weighted average term, new real estate loans	3 years 1 month 6 days
Payments to acquire loans receivable	$ 41,200
Seven New Real Estate Loans [Member] | Weighted Average [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate	9.60%
Advancements On Existing Real Estate Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payments to acquire loans receivable	$ 2,800

REAL ESTATE LOANS RECEIVABLE (S

REAL ESTATE LOANS RECEIVABLE (Schedule of Receivables) (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) facility loan	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses		$ (209,507)
Real estate loans receivable - net	$ 1,246,528		$ 1,212,162
Number of real estate properties | facility	896
Number of other mortgage note loans | loan	9
Number of other real estate loans | loan	7
Collection of loan principal	$ 14,342	$ 52,011
Mortgage Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	792,045		754,437
Allowance for credit losses	(48,164)		(55,661)
Real estate loans receivable - net	743,881		698,776
Mortgage Note Due 2025 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 61,533		62,010
Interest rate	7.85%
Investment Maturity Year	2025
Mortgage Note Due 2028 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 50,000		50,000
Interest rate	10%
Investment Maturity Year	2028
Mortgage Note Due 2030 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 517,437		514,866
Investment Maturity Year	2030
Mortgage Note Due 2030 [Member] | Weighted Average [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate	11.22%
Mortgage Note Due 2030 Except Two Due in 2024[Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 52,000
Mortgage Note Due 2037 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 72,420		72,420
Interest rate	10.50%
Investment Maturity Year	2037
Other Mortgage Notes Member
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 90,655		55,141
Other Mortgage Notes Related to Nine Loans | Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investment Maturity Year	2024
Other Mortgage Notes Related to Nine Loans | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investment Maturity Year	2027
Other Mortgage Notes Related to Nine Loans | Weighted Average [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate	9.67%
Other Mortgage Notes Two Currently Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 12,900
Financing Receivable Fair Value of Collateral	1,500
Other Mortgage Notes Due 2024 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	8,300
Other Real Estate Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	554,925		548,715
Allowance for credit losses	(52,278)		(35,329)
Real estate loans receivable - net	$ 502,647		513,386
Number of other real estate loans | loan	15
Other Real Estate Loans Due 2035 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 263,580		263,520
Interest rate	7%
Investment Maturity Year	2035
Other Real Estate Loans Due 2024 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 109,011		106,807
Investment Maturity Year	2024
Other Real Estate Loans Due 2024 [Member] | Weighted Average [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate	13.21%
Other Real Estate Loans Due 2024 - 2030 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 118,474		120,576
Other Real Estate Loans Due 2024 - 2030 [Member] | Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investment Maturity Year	2024
Other Real Estate Loans Due 2024 - 2030 [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investment Maturity Year	2030
Other Real Estate Loans Due 2024 - 2030 [Member] | Weighted Average [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate	11.76%
Other Real Estate Loans Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 63,860		$ 57,812
Other Real Estate Loans Other [Member] | Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investment Maturity Year	2027
Other Real Estate Loans Other [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investment Maturity Year	2033
Other Real Estate Loans Other [Member] | Weighted Average [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate	10.88%

REAL ESTATE LOANS RECEIVABLE _2

REAL ESTATE LOANS RECEIVABLE (Summary of investments income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income	$ 35,836	$ 28,420
Investment Type Characteristic Real Estate Related Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income	28,739	23,397
Mortgage Receivable [Member] | Investment Type Characteristic Real Estate Related Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income	19,843	16,548
Other Real Estate Loans [Member] | Investment Type Characteristic Real Estate Related Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income	$ 8,896	$ 6,849

REAL ESTATE LOANS RECEIVABLE (O

REAL ESTATE LOANS RECEIVABLE (Other Real Estate Loans Due 2035) (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Jun. 22, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income	$ 35,836,000	$ 28,420,000
Investment Type Characteristic Real Estate Related Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	1,346,970,000
Interest income	28,739,000	23,397,000
Maplewood Real Estate Holdings
Accounts, Notes, Loans and Financing Receivable [Line Items]
Rental income	11,300,000	17,300,000
Contractual interest income expected to be received	500,000
Other Real Estate Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	554,925,000				$ 548,715,000
Other Real Estate Loans [Member] | Investment Type Characteristic Real Estate Related Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income	$ 8,896,000	6,849,000
Other Real Estate Loans Due 2035 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investment Maturity Year	2035
Financing receivable, gross	$ 263,580,000				$ 263,520,000
Interest rate	7%
Other Real Estate Loans Due 2035 [Member] | Maplewood Real Estate Holdings
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, face amount		320,000,000				$ 250,500,000
Financing receivable, gross	$ 263,600,000
Interest rate						7%
Financing Receivable, Loan Percentage Of All Financing Receivables	19.60%
Remaining Commitment And Paid In Kind Interest	$ 33,900,000
Contractual interest income expected to be received	500,000
Other Real Estate Loans Due 2035 [Member] | Maplewood Real Estate Holdings | Investment Type Characteristic Real Estate Related Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income	0	$ 1,500,000
Other Real Estate Loans Due 2035 [Member] | Maplewood Real Estate Holdings | Forecast [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Paid In Kind			3%	6%
Interest Paid In Cash			4%	1%
Other Real Estate Loans Due 2035 [Member] | Maplewood Real Estate Holdings | Scenario, Plan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Real estate related loans non cash maximum interest paid-in kind	$ 52,200,000

NON-REAL ESTATE LOANS RECEIVA_3

NON-REAL ESTATE LOANS RECEIVABLE (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) loan item	Mar. 31, 2023 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income	$ 35,836	$ 28,420
Collection of loan principal	14,342	52,011
Payments to acquire loans receivable	48,113	31,240
Non Real Estate Loans Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Collection of loan principal	6,900
Existing Working Capital Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payments to acquire loans receivable	4,100
Investment Type Characteristic Non Real Estate Related Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income	$ 7,100	$ 5,000
Number of Borrowers | item	22
Number of non real estate loans receivable | loan	45

NON-REAL ESTATE LOANS RECEIVA_4

NON-REAL ESTATE LOANS RECEIVABLE (Schedule of receivables) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Jun. 30, 2024	May 31, 2024	Apr. 30, 2024	Dec. 31, 2023	Oct. 15, 2023	Mar. 31, 2023	Sep. 01, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses							$ (209,507)
Non-real estate loans receivable - net	$ 269,342				$ 275,615
Weighted Average [Member] | Subsequent Event [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate			10%
Non Real Estate Loans Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	390,286				397,246
Allowance for credit losses	(120,944)				(121,631)
Non-real estate loans receivable - net	269,342				275,615
Notes Receivable Due 2036 At 5.63% [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 76,684				77,854
Investment Maturity Year	2036
Interest rate	5.63%
Notes Receivable Due 2036 at 2.00% [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 32,308				32,308
Allowance for credit losses	$ (28,700)
Investment Maturity Year	2036
Interest rate	2%
Investment Maturity Date								Nov. 30, 2036
Notes Receivable Due 2025 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 44,249				44,999
Investment Maturity Year	2025
Financing receivable, benchmark amount for interest rate determination	$ 15,000					$ 15,000
Investment Maturity Date	Dec. 31, 2025
Notes Receivable Due 2025 [Member] | Greater Than $15 Million [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate	8%
Notes Receivable Due 2025 [Member] | Less Than $15 Million [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate	7.50%
Notes Receivable Due 2025 [Member] | Scenario, Plan [Member] | Greater Than $15 Million [Member] | Subsequent Event [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate		10%		9%
Notes Receivable Due 2025 [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, face amount	$ 45,000				55,000
Notes Receivable Due 2025 [Member] | Weighted Average [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate	7.83%
Notes Receivable Due 2024 Through 2026 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 49,970				53,300
Notes Receivable Due 2024 Through 2026 [Member] | Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investment Maturity Year	2024
Notes Receivable Due 2024 Through 2026 [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investment Maturity Year	2026
Notes Receivable Due 2024 Through 2026 [Member] | Weighted Average [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate	10.99%
Notes Receivable Due 2024 Through 2029 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 92,851				92,681
Notes Receivable Due 2024 Through 2029 [Member] | Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investment Maturity Year	2024
Notes Receivable Due 2024 Through 2029 [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investment Maturity Year	2029
Notes Receivable Due 2024 Through 2029 [Member] | Weighted Average [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate	11.20%
Other Notes [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 94,224				$ 96,104
Other Notes [Member] | Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investment Maturity Year	2024
Other Notes [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investment Maturity Year	2030
Other Notes [Member] | Weighted Average [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate	8.09%
Other Notes $7.6 Million [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investment Maturity Year	2024
Other Notes Three Loans Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 10,100
Financing Receivable Fair Value of Collateral	0
Other Notes Maturing 2024 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 7,600

NON-REAL ESTATE LOANS RECEIVA_5

NON-REAL ESTATE LOANS RECEIVABLE (Notes due 2036 at 5.63 Percent) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Nov. 01, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable allowance, increase (decrease)		$ 25,200
Allowance for loss on notes receivable		209,507
Interest payments applied against principal for cost recovery loans		$ 2,500
Non Real Estate Loans Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	$ 390,286			$ 397,246
Allowance for loss on notes receivable	$ 120,944			121,631
Notes Receivable Due 2036 At 5.63% [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investment Maturity Year	2036
Interest rate	5.63%
Financing receivable, gross	$ 76,684			$ 77,854
Notes Receivable Due 2036 At 5.63% [Member] | Agemo Holdings LLC [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investment Maturity Year	2036
Interest rate	5.63%
Interest payments applied against principal for cost recovery loans	$ 1,200
Notes Receivable $82.2 Million Due 2036 [Member] | Agemo Holdings LLC [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate		5.63%
Financing receivable, gross	$ 76,700
Financing receivable, loan percentage of all financing receivables	19.60%
Allowance for loss on notes receivable	$ 71,500
Investment Maturity Date	Dec. 31, 2036
Notes Receivable $82.2 Million Due 2036 [Member] | Agemo Holdings LLC [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Forecast [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate			5.71%
Notes Receivable Due Loan A [Member] | Agemo Holdings LLC [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, face amount	$ 32,000
Notes Receivable Due Loan B [Member] | Agemo Holdings LLC [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, face amount	$ 50,200
Additional Principal Deferred Rent Working Capital [Member] | Agemo Holdings LLC [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable allowance, increase (decrease)		$ 25,200

NON-REAL ESTATE LOANS RECEIVA_6

NON-REAL ESTATE LOANS RECEIVABLE (Notes due 2036 at 2.00 Percent) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Sep. 01, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest payments applied against principal for cost recovery loans			$ 2,500
Financing receivable allowance, increase (decrease)			25,200
Allowance for loss on notes receivable			$ 209,507
LaVie Care Centers LLC (f/k/a Consulate Health Care)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Monthly expected payment amount to be received	$ 3,200
Non Real Estate Loans Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, gross	390,286	$ 390,286		$ 397,246
Allowance for loss on notes receivable	$ 120,944	$ 120,944		121,631
Notes Receivable Due 2036 at 2.00% [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investment Maturity Year		2036
Interest rate	2%	2%
Investment Maturity Date					Nov. 30, 2036
Financing receivable, loan percentage of all financing receivables	8.30%	8.30%
Financing receivable, gross	$ 32,308	$ 32,308		$ 32,308
Allowance for loss on notes receivable	28,700	28,700
Notes Receivable Due $8.3 Million Term Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, face amount	8,300	8,300
Notes Receivable Due $25.0 Million Term Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, face amount	$ 25,000	$ 25,000

ALLOWANCE FOR CREDIT LOSSES (Na

ALLOWANCE FOR CREDIT LOSSES (Narrative) (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Accrued investment income receivable	$ 10,800,000		$ 10,200,000
Effective yield interest receivables	2,363,000		$ 3,127,000
Interest income related to loans on non-accrual status	$ 1,000,000	$ 1,500,000
Financing Receivable, Practical Expedient, Accrued Interest Exclusion [true false]	true
Agemo Holdings LLC [Member]
Interest income related to loans on non-accrual status	$ 0	$ 0

ALLOWANCE FOR CREDIT LOSSES (Sc

ALLOWANCE FOR CREDIT LOSSES (Schedule of expected credit loss per segment) (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) facility	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Oct. 31, 2021 USD ($)
Number of real estate properties | facility	896
ECL balance, total receivables			$ 222,164	$ 188,364
Provision (Recovery) for Credit Losses, total receivables	$ 10,738	$ (4,057)
Write-offs charged against allowance for the period ended, total receivables	(3,092)
Financing receivable allowance, increase (decrease)		25,200
Interest payments applied against principal for cost recovery loans		2,500
Financing receivable, principal payments received against fully reserved amounts		400
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Financing receivable allowance, increase (decrease)		25,200
ECL Ending balance		209,507
Direct Financing Lease, Net Investment in Lease, Allowance for Credit Loss [Roll Forward]
Direct Financing Lease, beginning balance	2,489	2,816
Provision (recovery) on direct financing leases	(191)	(193)
Direct Financing Lease, ending balance	2,298	2,623
Unfunded loan commitments, Credit Loss, Liability [Roll Forward]
ECL Beginning balance, unfunded loan commitments	7,054	320
Provision (Recovery) for Credit Losses, unfunded loan commitments	(928)	2,559
ECL Ending balance, unfunded loan commitments	6,126	2,879
Investment Type Characteristic Real Estate Related Loans [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
ECL Beginning balance	90,990	101,360
Provision (Recovery) for Credit Losses	9,452	(11,920)
ECL Ending balance	100,442	89,440
Investment Type Characteristic Non Real Estate Related Loans [Member]
Financing receivable allowance, increase (decrease)		25,200
Interest payments applied against principal for cost recovery loans	1,200
Financing receivable, principal payments received against fully reserved amounts	200
Financing Receivable, Allowance for Credit Loss [Roll Forward]
ECL Beginning balance	121,631	83,868
Provision (Recovery) for Credit Losses	2,405	5,497
Write-offs charged against allowance for the period ended	(3,092)
Financing receivable allowance, increase (decrease)		25,200
ECL Ending balance	120,944	114,565
Gulf Coast LLC [Member]
DIP financing, proceeds from trust	2,300
Mortgage Receivable [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
ECL Beginning balance	55,661
ECL Ending balance	48,164
Non Real Estate Loans Receivable [Member]
ECL balance, total receivables	229,810
Financing Receivable, Allowance for Credit Loss [Roll Forward]
ECL Beginning balance	121,631
ECL Ending balance	120,944
Notes Receivable Due $8.3 Million Term Loan [Member]
Financing receivable, face amount	8,300
Notes Receivable Due $25.0 Million Term Loan [Member]
Financing receivable, face amount	25,000
Notes Receivable Due 2036 At 5.63% [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Agemo Holdings LLC [Member]
Interest payments applied against principal for cost recovery loans	1,200
Notes Receivable $82.2 Million Due 2036 [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Agemo Holdings LLC [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
ECL Ending balance	71,500
Notes Receivable Due Loan A [Member] | Agemo Holdings LLC [Member]
Financing receivable, face amount	32,000
Notes Receivable Due Loan B [Member] | Agemo Holdings LLC [Member]
Financing receivable, face amount	50,200
Additional Principal Deferred Rent Working Capital [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | Agemo Holdings LLC [Member]
Financing receivable allowance, increase (decrease)		25,200
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Financing receivable allowance, increase (decrease)		25,200
Other Notes $25 Million Senior Secured Facility [Member] | Gulf Coast LLC [Member]
Debtor-in-Possession Financing, Amount Arranged					$ 25,000
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Provision (Recovery) for Credit Losses	(2,300)
Internal Credit Rating One [Member] | Investment Type Characteristic Real Estate Related Loans [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
ECL Beginning balance	1,501	162
Provision (Recovery) for Credit Losses	(193)	351
ECL Ending balance	1,308	513
Internal Credit Rating Two [Member] | Investment Type Characteristic Real Estate Related Loans [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
ECL Beginning balance	291	157
Provision (Recovery) for Credit Losses	269	(111)
ECL Ending balance	560	46
Unfunded loan commitments, Credit Loss, Liability [Roll Forward]
ECL Beginning balance, unfunded loan commitments	10
Provision (Recovery) for Credit Losses, unfunded loan commitments	(5)
ECL Ending balance, unfunded loan commitments	5
Internal Credit Rating Two [Member] | Investment Type Characteristic Non Real Estate Related Loans [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
ECL Beginning balance	1,151	859
Provision (Recovery) for Credit Losses	191	(567)
ECL Ending balance	1,342	292
Unfunded loan commitments, Credit Loss, Liability [Roll Forward]
ECL Beginning balance, unfunded loan commitments	692	207
Provision (Recovery) for Credit Losses, unfunded loan commitments	(112)	(96)
ECL Ending balance, unfunded loan commitments	580	111
Internal Credit Rating Three [Member] | Investment Type Characteristic Real Estate Related Loans [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
ECL Beginning balance	12,635	15,110
Provision (Recovery) for Credit Losses	1,056	(421)
ECL Ending balance	13,691	14,689
Unfunded loan commitments, Credit Loss, Liability [Roll Forward]
ECL Beginning balance, unfunded loan commitments	335
Provision (Recovery) for Credit Losses, unfunded loan commitments	121	2,660
ECL Ending balance, unfunded loan commitments	456	2,660
Internal Credit Rating Three [Member] | Investment Type Characteristic Non Real Estate Related Loans [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
ECL Beginning balance	3,903	2,079
Provision (Recovery) for Credit Losses	206	(1,727)
ECL Ending balance	4,109	352
Unfunded loan commitments, Credit Loss, Liability [Roll Forward]
ECL Beginning balance, unfunded loan commitments	46	29
Provision (Recovery) for Credit Losses, unfunded loan commitments	(2)	(23)
ECL Ending balance, unfunded loan commitments	44	6
Internal Credit Rating Four [Member] | Investment Type Characteristic Real Estate Related Loans [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
ECL Beginning balance	65,113	33,666
Provision (Recovery) for Credit Losses	(29,915)	(9,445)
ECL Ending balance	35,198	24,221
Unfunded loan commitments, Credit Loss, Liability [Roll Forward]
ECL Beginning balance, unfunded loan commitments	4,314	84
Provision (Recovery) for Credit Losses, unfunded loan commitments	(4,239)	(62)
ECL Ending balance, unfunded loan commitments	75	22
Internal Credit Rating Four [Member] | Investment Type Characteristic Non Real Estate Related Loans [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
ECL Beginning balance	720	634
Provision (Recovery) for Credit Losses	(110)	(361)
ECL Ending balance	610	273
Unfunded loan commitments, Credit Loss, Liability [Roll Forward]
ECL Beginning balance, unfunded loan commitments	63
Provision (Recovery) for Credit Losses, unfunded loan commitments	(21)
ECL Ending balance, unfunded loan commitments	42
Internal Credit Rating Five [Member]
Direct Financing Lease, Net Investment in Lease, Allowance for Credit Loss [Roll Forward]
Direct Financing Lease, beginning balance	2,489	2,816
Provision (recovery) on direct financing leases	(191)	(193)
Direct Financing Lease, ending balance	2,298	2,623
Internal Credit Rating Five [Member] | Investment Type Characteristic Real Estate Related Loans [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Provision (Recovery) for Credit Losses	38,235
ECL Ending balance	38,235
Unfunded loan commitments, Credit Loss, Liability [Roll Forward]
Provision (Recovery) for Credit Losses, unfunded loan commitments	4,924
ECL Ending balance, unfunded loan commitments	4,924
Internal Credit Rating Five [Member] | Investment Type Characteristic Non Real Estate Related Loans [Member]
Financing receivable allowance, increase (decrease)		25,200
Financing Receivable, Allowance for Credit Loss [Roll Forward]
ECL Beginning balance	43,404	18,619
Provision (Recovery) for Credit Losses	2,723	66
Financing receivable allowance, increase (decrease)		25,200
ECL Ending balance	46,127	43,885
Unfunded loan commitments, Credit Loss, Liability [Roll Forward]
ECL Beginning balance, unfunded loan commitments	1,594
Provision (Recovery) for Credit Losses, unfunded loan commitments	(1,594)
Internal Credit Rating Six [Member] | Investment Type Characteristic Real Estate Related Loans [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
ECL Beginning balance	11,450	52,265
Provision (Recovery) for Credit Losses		(2,294)
ECL Ending balance	11,450	49,971
Internal Credit Rating Six [Member] | Investment Type Characteristic Non Real Estate Related Loans [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
ECL Beginning balance	72,453	61,677
Provision (Recovery) for Credit Losses	(605)	8,086
Write-offs charged against allowance for the period ended	(3,092)
ECL Ending balance	$ 68,756	69,763
Unfunded loan commitments, Credit Loss, Liability [Roll Forward]
Provision (Recovery) for Credit Losses, unfunded loan commitments		80
ECL Ending balance, unfunded loan commitments		$ 80

ALLOWANCE FOR CREDIT LOSSES (_2

ALLOWANCE FOR CREDIT LOSSES (Schedule by segment balance by vintage and credit quality indicator) (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Total 2024	$ 40,973
Total 2023	369,739
Total 2022	95,057
Total 2021	110,898
Total 2020	104,106
Total 2019	6,594
Total 2018 & older	603,942
Total receivable Revolving	417,118
Total receivables	1,748,427
2024, current-period gross write-offs
2023, current-period gross write-offs
2022, current-period gross write-offs
2021, current-period gross write-offs
2020, current-period gross write-offs
2019, current-period gross write-offs
2018 & older, current-period gross write-offs	(3,092)
Revolving, current-period gross write-offs
Total write offs, current period	(3,092)
Direct Financing Lease, Net Investment in Lease, before Allowance for Credit Loss [Abstract]
2018 & older, Investment in direct financing leases	11,171
Investment in direct financing leases	11,171
Investment Type Characteristic Real Estate Related Loans [Member]
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
2024	40,973
2023	270,244
2022	50,600
2021	103,047
2020	104,106
2018 & older	514,420
Revolving Loans	263,580
Total Balance	1,346,970
Investment Type Characteristic Non Real Estate Related Loans [Member]
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
2023	99,495
2022	44,457
2021	7,851
2019	6,594
2018 & older	78,351
Revolving Loans	153,538
Total Balance	390,286
Internal Credit Rating One [Member] | Investment Type Characteristic Real Estate Related Loans [Member]
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
2022	20,000
2018 & older	61,533
Total Balance	81,533
Internal Credit Rating Two [Member] | Investment Type Characteristic Real Estate Related Loans [Member]
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
2024	11,700
2023	8,257
2020	21,325
Total Balance	41,282
Internal Credit Rating Two [Member] | Investment Type Characteristic Non Real Estate Related Loans [Member]
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Revolving Loans	114,398
Total Balance	114,398
Internal Credit Rating Three [Member] | Investment Type Characteristic Real Estate Related Loans [Member]
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
2024	23,257
2023	172,393
2022	30,600
2021	72,420
Total Balance	298,670
Internal Credit Rating Three [Member] | Investment Type Characteristic Non Real Estate Related Loans [Member]
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
2023	88,276
2022	20,000
2019	3,653
2018 & older	667
Revolving Loans	8,550
Total Balance	121,146
Internal Credit Rating Four [Member] | Investment Type Characteristic Real Estate Related Loans [Member]
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
2024	6,016
2023	89,594
2021	30,627
2020	82,781
2018 & older	439,965
Total Balance	648,983
Internal Credit Rating Four [Member] | Investment Type Characteristic Non Real Estate Related Loans [Member]
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
2023	1,105
2019	667
2018 & older	1,000
Revolving Loans	26,033
Total Balance	28,805
Internal Credit Rating Five [Member]
Direct Financing Lease, Net Investment in Lease, before Allowance for Credit Loss [Abstract]
2018 & older, Investment in direct financing leases	11,171
Investment in direct financing leases	11,171
Internal Credit Rating Five [Member] | Investment Type Characteristic Real Estate Related Loans [Member]
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Revolving Loans	263,580
Total Balance	263,580
Internal Credit Rating Five [Member] | Investment Type Characteristic Non Real Estate Related Loans [Member]
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
2023	4,190
2019	2,274
2018 & older	47,117
Total Balance	53,581
Internal Credit Rating Six [Member] | Investment Type Characteristic Real Estate Related Loans [Member]
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
2018 & older	12,922
Total Balance	12,922
Internal Credit Rating Six [Member] | Investment Type Characteristic Non Real Estate Related Loans [Member]
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
2023	5,924
2022	24,457
2021	7,851
2018 & older	29,567
Revolving Loans	4,557
Total Balance	72,356
Mortgage Receivable [Member]
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Total Balance	792,045	$ 754,437
Non Real Estate Loans Receivable [Member]
Financing Receivable, before Allowance for Credit Loss, by Origination Year [Abstract]
Total Balance	$ 390,286	$ 397,246

VARIABLE INTEREST ENTITIES (Sch

VARIABLE INTEREST ENTITIES (Schedule of variable interest entities) (Detail)	3 Months Ended
	Mar. 31, 2024 USD ($) facility	Mar. 31, 2023 USD ($) facility	Dec. 31, 2023 USD ($)
Assets
Real estate assets - net	$ 5,834,297,000		$ 5,888,096,000
Assets held for sale	81,546,000		81,546,000
Real estate loans receivable - net	1,246,528,000		1,212,162,000
Investments in unconsolidated joint ventures	185,937,000		188,409,000
Non-real estate loans receivable - net	269,342,000		275,615,000
Contractual receivables - net	10,973,000		11,888,000
Other receivables and lease inducements	223,281,000		214,657,000
Lease inducements	8,519,000		8,782,000
Other assets	144,267,000		147,686,000
Total assets	9,011,848,000		9,117,402,000
Liabilities
Accrued expenses and other liabilities	(283,103,000)		(287,795,000)
Total Liabilities	(5,311,255,000)		(5,355,111,000)
Restricted cash	1,253,000	$ 3,336,000	1,920,000
Interest income	35,836,000	28,420,000
Total revenues	$ 243,299,000	$ 218,202,000
Number of Facilities | facility	896
Assisted Living Facilities [Member]
Liabilities
Number of Facilities | facility	189
Facilities Sold
Liabilities
Number of Facilities | facility	4	2
Facilities Acquired | Assisted Living Facilities [Member]
Liabilities
Number of Facilities | facility	1
Non Real Estate Loans Receivable [Member]
Assets
Non-real estate loans receivable - net	$ 269,342,000		275,615,000
Agemo Holdings LLC [Member]
Liabilities
Rental income	6,000,000	$ 0
Maplewood Real Estate Holdings
Liabilities
Rental income	11,300,000	17,300,000
Termination fee incurred cost		12,500,000
Variable Interest Entity, Primary Beneficiary [Member]
Assets
Total assets	28,000,000		27,900,000
Liabilities
Total Liabilities	(21,000,000)		(20,700,000)
Variable Interest Entity, Not Primary Beneficiary [Member]
Assets
Real estate assets - net	1,012,089,000		996,540,000
Assets held for sale			66,130,000
Real estate loans receivable - net	400,068,000		370,147,000
Investments in unconsolidated joint ventures	9,016,000		9,009,000
Non-real estate loans receivable - net	9,965,000		10,679,000
Contractual receivables - net	544,000		746,000
Other assets	711,000		1,423,000
Total assets	1,432,393,000		1,454,674,000
Liabilities
Accrued expenses and other liabilities	(47,048,000)		(46,677,000)
Total Liabilities	(47,048,000)		(46,677,000)
Total collateral	(1,126,671,000)		(1,153,383,000)
Maximum exposure to loss	258,674,000		254,614,000
Rental income	$ 19,128,000	$ 9,838,000
Rental income, Statement of Income [Extensible Enumeration]	Rental income	Rental income
Interest income	$ 2,964,000	$ 2,106,000
Total revenues	22,092,000	11,944,000
Variable Interest Entity, Not Primary Beneficiary [Member] | Asset Pledged as Collateral with Right [Member] | Notes Payable, Other Payables [Member]
Liabilities
Accounts receivable	8,100,000		8,900,000
Variable Interest Entity, Not Primary Beneficiary [Member] | Personal Guarantee Collateral [Member]
Liabilities
Total collateral	(48,000,000)		(48,000,000)
Variable Interest Entity, Not Primary Beneficiary [Member] | Other Collateral [Member]
Liabilities
Total collateral	$ (1,078,671,000)		$ (1,105,383,000)
Variable Interest Entity, Not Primary Beneficiary [Member] | Maplewood Real Estate Holdings
Liabilities
Termination fee incurred cost		$ 12,500,000

INVESTMENT IN JOINT VENTURES (S

INVESTMENT IN JOINT VENTURES (Schedule of equity method investments) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) facility property contract	Mar. 31, 2023 USD ($) facility	Dec. 31, 2023 USD ($)
Number of real estate properties | facility	896
Investments in unconsolidated joint ventures	$ 185,937		$ 188,409
Number of operators | contract	78
Income (loss) from unconsolidated joint ventures	$ 98	$ 831
Second Spring Healthcare Investments [Member]
Income (loss) from unconsolidated joint ventures	235	289
Lakeway Realty LLC [Member]
Income (loss) from unconsolidated joint ventures	691	679
Cindat Ice Portfolio JV GP Limited [Member]
Income (loss) from unconsolidated joint ventures	(705)	1
OMG Senior Housing LLC [Member]
Income (loss) from unconsolidated joint ventures	$ (112)	(220)
OH CHS SNP Inc [Member]
Ownership %	9%
Investments in unconsolidated joint ventures	$ 794		752
Income (loss) from unconsolidated joint ventures	$ 42	$ 82
WV Pharm Holdings LLC Investment [Member]
Ownership %	20%
Investments in unconsolidated joint ventures	$ 3,000		3,000
OMG Form Senior Holdings LLC Investment [Member]
Income (loss) from unconsolidated joint ventures	$ (53)
CHS OHI Insight Holdings LLC Investment [Member]
Ownership %	25%
Investments in unconsolidated joint ventures	$ 3,242		3,242
RCA NH Holdings RECO LLC Investment And WV Pharm Holdings LLC Investment And Lakeway Realty LLC And OMG Form Senior Holdings LLC Investment [Member]
Financing receivable, gross	$ 79,600
Skilled Nursing Facilities [Member]
Number of real estate properties | facility	590
Skilled Nursing Facilities [Member] | Second Spring Healthcare Investments [Member]
Ownership %	15%
Investments in unconsolidated joint ventures	$ 8,336		8,945
Skilled Nursing Facilities [Member] | RCA NH Holdings RE CO LLC Investment [Member]
Ownership %	20%
Number of real estate properties | facility	5
Investments in unconsolidated joint ventures	$ 3,400		3,400
Specialty [Member]
Number of real estate properties | property	19
Specialty [Member] | Lakeway Realty LLC [Member]
Ownership %	51%
Number of real estate properties | facility	1
Investments in unconsolidated joint ventures	$ 68,569		68,902
Specialty [Member] | OMG Senior Housing LLC [Member]
Ownership %	50%
Number of real estate properties | facility	1
Assisted Living Facilities [Member]
Number of real estate properties | facility	189
Assisted Living Facilities [Member] | Cindat Ice Portfolio JV GP Limited [Member]
Ownership %	49%
Number of real estate properties | facility	63
Investments in unconsolidated joint ventures	$ 95,979		97,559
Assisted Living Facilities [Member] | OMG Form Senior Holdings LLC Investment [Member]
Ownership %	49%
Number of real estate properties | facility	1
Investments in unconsolidated joint ventures	$ 2,617		2,609
Independent Living Facilities [Member]
Number of real estate properties | property	19
Non Real Estate Loans Receivable [Member]
Financing receivable, gross	$ 390,286		397,246
Mortgage Receivable [Member]
Financing receivable, gross	$ 792,045		$ 754,437
Facilities Sold
Number of real estate properties | facility	4	2
Facilities Sold | Skilled Nursing Facilities [Member]
Number of real estate properties | facility		1
Facilities Acquired | Skilled Nursing Facilities [Member]
Number of real estate properties | facility	1
Facilities Acquired | Assisted Living Facilities [Member]
Number of real estate properties | facility	1

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLES (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net amortization of intangible assets	$ 0.5	$ 6.1
Remainder 2024	1.6
2025	2.1
2026	1.8
2027	1.5
2028	$ 0.9
Below market leases, weighted average remaining amortization, period	7 years
Above market leases
Weighted average remaining amortization	13 years

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLES (Schedule of Reconciliation of Goodwill) (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill [Roll Forward]
Balance	$ 643,897
Foreign currency translation	(119)
Balance	$ 643,778

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLES (Schedule of Intangibles) (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets:
Gross intangible assets	$ 4,214	$ 4,214
Accumulated amortization	(3,547)	(3,532)
Net intangible assets	667	682
Liabilities:
Below market leases	48,791	48,791
Accumulated amortization	(37,723)	(37,177)
Net intangible liabilities	$ 11,068	$ 11,614

CONCENTRATION OF RISK (Narrativ

CONCENTRATION OF RISK (Narrative) (Detail)	3 Months Ended
	Mar. 31, 2024 item	Mar. 31, 2023 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2024 facility	Mar. 31, 2024 state	Mar. 31, 2024 contract	Mar. 31, 2024 property	Dec. 31, 2023 USD ($) facility item
Concentration Risk [Line Items]
Number of real estate properties | facility				896
Number of states | state					42
Number of operators | contract						78
Gross investment in facilities, net of impairments and reserves for uncollectible loans			$ 9,200,000,000
Real estate loans receivable - net			1,246,528,000					$ 1,212,162,000
Non-real estate loans receivable - net			269,342,000					275,615,000
Investment in unconsolidated joint venture			185,937,000					188,409,000
Number of unconsolidated joint ventures | item	9
Other Real Estate Loans [Member]
Concentration Risk [Line Items]
Real estate loans receivable - net			502,647,000					513,386,000
Variable Interest Entity, Not Primary Beneficiary [Member]
Concentration Risk [Line Items]
Real estate loans receivable - net			400,068,000					370,147,000
Non-real estate loans receivable - net			9,965,000					10,679,000
Investment in unconsolidated joint venture			$ 9,016,000					$ 9,009,000
Maplewood Real Estate Holdings
Concentration Risk [Line Items]
Number of operators that met or exceeded ten percent of investments | item	1							1
Termination fee incurred cost		$ 12,500,000
Maplewood Real Estate Holdings | Variable Interest Entity, Not Primary Beneficiary [Member]
Concentration Risk [Line Items]
Termination fee incurred cost		$ 12,500,000
Communicare Health Services, Inc
Concentration Risk [Line Items]
Number of operators that met or exceeded ten percent threshold for revenues			1
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Maplewood Real Estate Holdings | Variable Interest Entity, Not Primary Beneficiary [Member]
Concentration Risk [Line Items]
Concentration percentage	4.70%	2.90%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Communicare Health Services, Inc
Concentration Risk [Line Items]
Concentration percentage	12.90%	9.60%
Assets, Total [Member] | Geographic Concentration Risk [Member] | Texas
Concentration Risk [Line Items]
Concentration percentage	10.40%
Assets, Total [Member] | Geographic Concentration Risk [Member] | Indiana
Concentration Risk [Line Items]
Concentration percentage	6.80%
Assets, Total [Member] | Geographic Concentration Risk [Member] | California
Concentration Risk [Line Items]
Concentration percentage	6.10%
Assets, Total [Member] | Geographic Concentration Risk [Member] | United Kingdom
Concentration Risk [Line Items]
Concentration percentage	6.80%
Assets, Total [Member] | Product Concentration Risk [Member] | Communicare Health Services, Inc
Concentration Risk [Line Items]
Concentration percentage	9.30%
Assets, Total [Member] | Product Concentration Risk [Member] | Real Estate Investment Related to Long Term Healthcare Facilities [Member]
Concentration Risk [Line Items]
Concentration percentage	97%
Skilled Nursing Facilities [Member]
Concentration Risk [Line Items]
Number of real estate properties | facility				590
Assisted Living Facilities [Member]
Concentration Risk [Line Items]
Number of real estate properties | facility				189
Specialty [Member]
Concentration Risk [Line Items]
Number of real estate properties | property							19
Medical Office Building [Member]
Concentration Risk [Line Items]
Number of real estate properties | facility				1
Independent Living Facilities [Member]
Concentration Risk [Line Items]
Number of real estate properties | property							19
Facilities Under Fixed Rate Mortgage Loans [Member]
Concentration Risk [Line Items]
Number of real estate properties | facility				62
Facilities Under Fixed Rate Mortgage Loans [Member] | Skilled Nursing Facilities [Member]
Concentration Risk [Line Items]
Number of real estate properties | property							47
Facilities Under Fixed Rate Mortgage Loans [Member] | Assisted Living Facilities [Member]
Concentration Risk [Line Items]
Number of real estate properties | property							12
Facilities Under Fixed Rate Mortgage Loans [Member] | Specialty [Member]
Concentration Risk [Line Items]
Number of real estate properties | property							2
Facilities Under Fixed Rate Mortgage Loans [Member] | Independent Living Facilities [Member]
Concentration Risk [Line Items]
Number of real estate properties | facility				1
Facilities Held for Sale [Member]
Concentration Risk [Line Items]
Number of real estate properties				16			16	16

STOCKHOLDERS EQUITY (Schedule o

STOCKHOLDERS EQUITY (Schedule of Common Stock Dividends) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Stockholders Equity [Abstract]
Dividends Declared, Date Of Record	Apr. 30, 2024	Feb. 05, 2024
Dividends Payable, Date to be Paid	May 15, 2024	Feb. 15, 2024
Common Stock, Dividends, Per Share, Declared	$ 0.67	$ 0.67	$ 0.67

STOCKHOLDERS EQUITY (Schedule_2

STOCKHOLDERS EQUITY (Schedule of dividend reinvestment and common stock purchase plan) (Detail) - Dividend Reinvestment And Common Stock Purchase Plan [Member] - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Shares issued	29	82
Gross Proceeds	$ 882	$ 2,278

STOCKHOLDERS EQUITY (At The Mar

STOCKHOLDERS EQUITY (At The Market Program Schedule and Narrative) (Detail) - $1 Billion ATM Program $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Sales price, equity distribution agreement	$ 1,000,000
Issuance of common stock (in shares) | shares	1,041
Average issue price per share | $ / shares	$ 30.49
Gross proceeds	$ 32,295
Proceeds from issuance of common stock	$ 31,738

STOCKHOLDERS EQUITY (Schedule_3

STOCKHOLDERS EQUITY (Schedule of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Stockholders Equity/AOCI	$ 3,513,888		$ 3,574,584
Add: portion included in noncontrolling interest	186,705		187,707
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	3,700,593	$ 3,685,611	3,762,291	$ 3,803,282
Realized gain	2,600	1,100
AOCI Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Add: portion included in noncontrolling interest	(9)	304
AOCI Including Portion Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	31,852	21,533	$ 29,338	$ 20,325
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Stockholders Equity/AOCI	31,861	21,229
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Stockholders Equity/AOCI	(55,780)	(69,170)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Stockholders Equity/AOCI	81,988	76,806
Accumulated Net Gain (Loss) from Net Investment Hedges Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Stockholders Equity/AOCI	$ 5,653	$ 13,593

TAXES (Narrative) (Detail)

TAXES (Narrative) (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) subsidiary	Dec. 31, 2023 USD ($)
Taxes [Line Items]
Minimum number of subsequent years the company may not be able to qualify as a REIT	4 years
Percentage of income subject to federal taxation	100%
Number of TSRs subject to federal, state and local income taxes with net operating loss carryforwards | subsidiary	1
Deferred tax assets related to net operating loss carryforwards	$ 8,857	$ 9,491
Taxable REIT Subsidiaries [Member]
Taxes [Line Items]
Net operating loss carry-forward	9,800
Foreign Tax Authority
Taxes [Line Items]
Net operating loss carry-forward	$ 35,400
Net operating loss carryforwards period	no

TAXES (Schedule of components o

TAXES (Schedule of components of income tax expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Taxes [Abstract]
Federal, state and local income tax expense	$ 500	$ 300
Foreign income tax expense (benefit)	2,100	(1,600)
Total income tax expense (benefit)	2,600	(1,300)
Income before income tax (expense) benefit and income from unconsolidated joint ventures	71,829	34,722
Income from unconsolidated joint ventures	$ 98	$ 831

TAXES (Schedule of deferred tax

TAXES (Schedule of deferred tax assets and liabilities) (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Deferred tax assets:
Federal net operating loss carryforward	$ 2,048	$ 2,079
Valuation allowance on deferred tax asset	(1,996)	(2,024)
Foreign net operating loss carryforward	8,857	9,491
Net deferred tax asset	8,909	9,546
Deferred tax liability:
Foreign deferred tax liability	1,426	1,508
Net deferred tax liability	$ 1,426	$ 1,508

STOCK-BASED COMPENSATION (Narra

STOCK-BASED COMPENSATION (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Stock-based compensation expense	$ 9.2	$ 8.7
Performance Based Restricted Stock Units [Member]
Shares awarded, other than options	71,106
Performance period used for performance based awards	3 years
Performance Based Profit Interest Units [Member]
Vesting period, years	4 years
Performance Based Profit Interest Units [Member] | Certain Officers and Key Employees [Member]
Shares awarded, other than options	2,297,064
Performance period used for performance based awards	3 years
Time Based Profit Interest Units [Member] | Certain Officers and Key Employees [Member]
Shares awarded, other than options	259,781
Vesting period, years	3 years

STOCK-BASED COMPENSATION (Summa

STOCK-BASED COMPENSATION (Summary of stock based compensation) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Stock-Based Compensation [Abstract]
Stock-based compensation expense	$ 9.2	$ 8.7

BORROWING ACTIVITIES AND ARRA_3

BORROWING ACTIVITIES AND ARRANGEMENTS (Schedule of Borrowings) (Details) $ in Thousands, £ in Millions		3 Months Ended		12 Months Ended
	Apr. 01, 2024 USD ($)	Mar. 31, 2024 USD ($) facility item	Mar. 31, 2023 USD ($) facility	Dec. 31, 2023 USD ($)	Mar. 31, 2024 GBP (£) facility	Jun. 30, 2023 USD ($)
Debt Instrument [Line Items]
Total secured borrowings		$ 20,145		$ 61,963
Revolving credit facility		20,213		20,397
Total senior notes and other unsecured borrowings - net		4,987,794		4,984,956
Total secured and unsecured borrowings - net		5,028,152		5,067,316
Real estate assets - net		5,834,297		$ 5,888,096
Loss on extinguishment of debt		$ 1,283	$ 6
Debt instrument, covenant compliance		As of March 31, 2024 and December 31, 2023, we were in compliance with all applicable covenants for our borrowings		As of March 31, 2024 and December 31, 2023, we were in compliance with all applicable covenants for our borrowings
Number of Facilities | facility		896			896
Repayments of Long-term Debt		$ 41,878	$ 1,913
Number Of Assumed Loans Retired | item		9
Assisted Living Facilities [Member]
Debt Instrument [Line Items]
Number of Facilities | facility		189			189
Facilities Sold
Debt Instrument [Line Items]
Number of Facilities | facility		4	2		4
Facilities Sold | LaVie Care Centers LLC (f/k/a Consulate Health Care)
Debt Instrument [Line Items]
Number of Facilities | facility		2			2
Nine Hud Mortgages [Member]
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 1,300
Repayments of secured debt		$ 41,600
Term Loan Maturity 2024 [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date		Apr. 30, 2024		Feb. 29, 2024
4.95% notes due 2024
Debt Instrument [Line Items]
Rate		4.95%		4.95%	4.95%
4.95% notes due 2024 | Subsequent Event [Member]
Debt Instrument [Line Items]
Repayments of senior debt	$ 400,000
4.50% notes due 2025
Debt Instrument [Line Items]
Rate		4.50%		4.50%	4.50%
5.25% notes due 2026
Debt Instrument [Line Items]
Rate		5.25%		5.25%	5.25%
4.50% notes due 2027
Debt Instrument [Line Items]
Rate		4.50%		4.50%	4.50%
4.75% notes due 2028
Debt Instrument [Line Items]
Rate		4.75%		4.75%	4.75%
3.63% notes due 2029
Debt Instrument [Line Items]
Rate		3.63%		3.63%	3.63%
3.38% notes due 2031
Debt Instrument [Line Items]
Rate		3.38%		3.38%	3.38%
3.25% notes due 2033
Debt Instrument [Line Items]
Rate		3.25%		3.25%	3.25%
2025 Term Loan [Member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 428,500
Secured Debt [Member]
Debt Instrument [Line Items]
Total secured borrowings		$ 20,145		$ 61,963
Secured Debt [Member] | Hud Mortgage
Debt Instrument [Line Items]
Total secured borrowings				41,878
Secured Debt [Member] | Term Loan Maturity 2024 [Member]
Debt Instrument [Line Items]
Maturity		2024
Rate		10.83%			10.83%
Total secured borrowings		$ 20,145		20,085
Secured Debt [Member] | Term Loan Maturity 2024 [Member] | Facilities Related to Joint Venture [Member] | Assisted Living Facilities [Member]
Debt Instrument [Line Items]
Number of Facilities | facility		2			2
Unsecured Debt [Member]
Debt Instrument [Line Items]
Deferred financing costs - net		$ (18,958)		(20,442)
Discount - net		(21,748)		(23,102)
Total senior notes and other unsecured borrowings - net		4,987,794		4,984,956
Total unsecured borrowings - net		$ 5,008,007		5,005,353
Unsecured Debt [Member] | Omega OP Term Loan Facility
Debt Instrument [Line Items]
Maturity		2025
Total term loans - net		$ 50,000		50,000
Debt instrument, face amount						$ 50,000
Debt instrument, interest rate, effective percentage		5.52%			5.52%
Unsecured Debt [Member] | Omega OP Term Loan Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument [Line Items]
Derivative, Variable Interest Rate		3.957%			3.957%
Unsecured Debt [Member] | 2025 Term Loan [Member]
Debt Instrument [Line Items]
Maturity		2025
Long-term debt, gross		$ 428,500		428,500
Debt instrument, interest rate, effective percentage		5.60%			5.60%
Unsecured Debt [Member] | 2025 Term Loan [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument [Line Items]
Derivative, Variable Interest Rate		4.047%			4.047%
Senior Notes [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Rate	4.95%
Senior Notes [Member] | 4.95% notes due 2024
Debt Instrument [Line Items]
Maturity		2024
Rate		4.95%			4.95%
Long-term debt, gross		$ 400,000		400,000
Senior Notes [Member] | 4.50% notes due 2025
Debt Instrument [Line Items]
Maturity		2025
Rate		4.50%			4.50%
Long-term debt, gross		$ 400,000		400,000
Senior Notes [Member] | 5.25% notes due 2026
Debt Instrument [Line Items]
Maturity		2026
Rate		5.25%			5.25%
Long-term debt, gross		$ 600,000		600,000
Senior Notes [Member] | 4.50% notes due 2027
Debt Instrument [Line Items]
Maturity		2027
Rate		4.50%			4.50%
Long-term debt, gross		$ 700,000		700,000
Senior Notes [Member] | 4.75% notes due 2028
Debt Instrument [Line Items]
Maturity		2028
Rate		4.75%			4.75%
Long-term debt, gross		$ 550,000		550,000
Senior Notes [Member] | 3.63% notes due 2029
Debt Instrument [Line Items]
Maturity		2029
Rate		3.63%			3.63%
Long-term debt, gross		$ 500,000		500,000
Senior Notes [Member] | 3.38% notes due 2031
Debt Instrument [Line Items]
Maturity		2031
Rate		3.38%			3.38%
Long-term debt, gross		$ 700,000		700,000
Senior Notes [Member] | 3.25% notes due 2033
Debt Instrument [Line Items]
Maturity		2033
Rate		3.25%			3.25%
Long-term debt, gross		$ 700,000		700,000
Minimum [Member] | Hud Mortgage
Debt Instrument [Line Items]
Maturity		2049
Maximum [Member] | Hud Mortgage
Debt Instrument [Line Items]
Maturity		2051
Revolving Credit Facility | Unsecured Debt [Member]
Debt Instrument [Line Items]
Revolving credit facility | £					£ 16
Maximum borrowing capacity		$ 1,450,000
Revolving Credit Facility | Unsecured Debt [Member] | United States Dollar Tranche [Member]
Debt Instrument [Line Items]
Rate		6.64%			6.64%
Revolving Credit Facility | Unsecured Debt [Member] | British Pound Sterling Tranche [Member]
Debt Instrument [Line Items]
Rate		6.51%			6.51%
Revolving Credit Facility | Unsecured Debt [Member] | Revolving Credit Facility Due 2025 [Member]
Debt Instrument [Line Items]
Maturity		2025
Rate		6.64%			6.64%
Revolving credit facility		$ 20,213		$ 20,397

DERIVATIVES AND HEDGING (Narrat

DERIVATIVES AND HEDGING (Narrative) (Details) $ in Thousands, £ in Millions		3 Months Ended
	Feb. 27, 2024 USD ($)	Mar. 31, 2024 USD ($) contract	Mar. 31, 2023 USD ($)	Apr. 01, 2024	Mar. 31, 2024 GBP (£) contract	Feb. 27, 2024 GBP (£) contract	Dec. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)
Unrealized gain (loss)		$ 6,877	$ (9,550)
Proceeds from net investment hedges	$ 8,400	8,429
Senior Notes [Member] | Subsequent Event [Member]
Interest rate				4.95%
Omega OP Term Loan Facility | Unsecured Debt [Member]
Term loans - net		$ 50,000					$ 50,000
Debt instrument, face amount								$ 50,000
Maturity		2025
Debt instrument, interest rate, effective percentage		5.52%			5.52%
3.38% notes due 2031
Interest rate		3.38%			3.38%		3.38%
3.38% notes due 2031 | Senior Notes [Member]
Maturity		2031
Long-term Debt, Gross		$ 700,000					$ 700,000
Interest rate		3.38%			3.38%
3.25% notes due 2033
Interest rate		3.25%			3.25%		3.25%
3.25% notes due 2033 | Senior Notes [Member]
Maturity		2033
Long-term Debt, Gross		$ 700,000					$ 700,000
Interest rate		3.25%			3.25%
2025 Term Loan [Member]
Long-term Debt, Gross		$ 428,500
2025 Term Loan [Member] | Unsecured Debt [Member]
Maturity		2025
Long-term Debt, Gross		$ 428,500					$ 428,500
Debt instrument, interest rate, effective percentage		5.60%			5.60%
Net Investment Hedging [Member]
Derivative, Notional Amount Terminated | £						£ 70
Derivative, Number of Instruments Terminated | contract						2
Interest Rate Swap | Cash Flow Hedging [Member]
Derivative, notional amount		$ 478,500
Derivative, Number of Instruments Held | contract		12			12
Foreign Exchange Forward [Member] | Net Investment Hedging [Member]
Derivative, notional amount | £					£ 258	£ 78
Derivative, forward exchange rate		1.2899			1.2899	1.2707
Derivative, Number of Instruments Held | contract		11			11	3
Foreign Exchange Forward [Member] | Net Investment Hedging [Member] | Minimum [Member]
Derivative, maturity Date	Mar. 08, 2027
Foreign Exchange Forward [Member] | Net Investment Hedging [Member] | Maximum [Member]
Derivative, maturity Date	Mar. 07, 2031

DERIVATIVES AND HEDGING (Locati

DERIVATIVES AND HEDGING (Location and the fair value of derivative instruments designated as hedges) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Other Assets [Member] | Cash Flow Hedging [Member]
Cash flow hedges recorded at fair value, asset	$ 1,745
Other Assets [Member] | Net Investment Hedging [Member]
Net investment hedges recorded at fair value, asset	2,835	$ 8,903
Accounts Payable and Accrued Liabilities [Member] | Cash Flow Hedging [Member]
Cash flow hedges recorded at fair value, liability	325	6,533
Accounts Payable and Accrued Liabilities [Member] | Net Investment Hedging [Member]
Net investment hedges recorded at fair value, liability	$ 646	$ 8

FINANCIAL INSTRUMENTS (Schedule

FINANCIAL INSTRUMENTS (Schedule of Financial Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
4.95% notes due 2024
Liabilities:
Notes issued, interest rate	4.95%	4.95%
4.50% notes due 2025
Liabilities:
Notes issued, interest rate	4.50%	4.50%
5.25% notes due 2026
Liabilities:
Notes issued, interest rate	5.25%	5.25%
4.50% notes due 2027
Liabilities:
Notes issued, interest rate	4.50%	4.50%
4.75% notes due 2028
Liabilities:
Notes issued, interest rate	4.75%	4.75%
3.63% notes due 2029
Liabilities:
Notes issued, interest rate	3.63%	3.63%
3.38% notes due 2031
Liabilities:
Notes issued, interest rate	3.38%	3.38%
3.25% notes due 2033
Liabilities:
Notes issued, interest rate	3.25%	3.25%
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Assets:
Investments in direct financing leases - net	$ 8,873	$ 8,716
Real estate loans receivable - net	1,246,528	1,212,162
Non-real estate loans receivable - net	269,342	275,615
Total	1,524,743	1,496,493
Liabilities:
Revolving line of credit	20,213	20,397
Omega OP term loan	49,890	49,864
Total	5,028,152	5,067,316
Carrying (Reported) Amount, Fair Value Disclosure [Member] | 4.95% notes due 2024
Liabilities:
Notes Payable	400,000	399,747
Carrying (Reported) Amount, Fair Value Disclosure [Member] | 4.50% notes due 2025
Liabilities:
Notes Payable	399,397	399,207
Carrying (Reported) Amount, Fair Value Disclosure [Member] | 5.25% notes due 2026
Liabilities:
Notes Payable	598,730	598,553
Carrying (Reported) Amount, Fair Value Disclosure [Member] | 4.50% notes due 2027
Liabilities:
Notes Payable	695,668	695,302
Carrying (Reported) Amount, Fair Value Disclosure [Member] | 4.75% notes due 2028
Liabilities:
Notes Payable	546,177	545,925
Carrying (Reported) Amount, Fair Value Disclosure [Member] | 3.63% notes due 2029
Liabilities:
Notes Payable	493,401	493,099
Carrying (Reported) Amount, Fair Value Disclosure [Member] | 3.38% notes due 2031
Liabilities:
Notes Payable	687,620	687,172
Carrying (Reported) Amount, Fair Value Disclosure [Member] | 3.25% notes due 2033
Liabilities:
Notes Payable	691,654	691,425
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Hud Mortgage
Liabilities:
HUD debt - net		41,878
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Term Loan Maturity 2024 [Member]
Liabilities:
Term loan	20,145	20,085
Carrying (Reported) Amount, Fair Value Disclosure [Member] | 2025 Term Loan [Member]
Liabilities:
Term loan	425,257	424,662
Estimate Of Fair Value, Fair Value Disclosure [Member]
Assets:
Investments in direct financing leases - net	8,873	8,716
Real estate loans receivable - net	1,221,793	1,258,838
Non-real estate loans receivable - net	276,042	279,710
Total	1,506,708	1,547,264
Liabilities:
Revolving line of credit	20,213	20,397
Omega OP term loan	50,000	50,000
Total	4,729,238	4,739,175
Estimate Of Fair Value, Fair Value Disclosure [Member] | 4.95% notes due 2024
Liabilities:
Notes Payable	400,000	398,888
Estimate Of Fair Value, Fair Value Disclosure [Member] | 4.50% notes due 2025
Liabilities:
Notes Payable	395,600	393,240
Estimate Of Fair Value, Fair Value Disclosure [Member] | 5.25% notes due 2026
Liabilities:
Notes Payable	596,094	596,508
Estimate Of Fair Value, Fair Value Disclosure [Member] | 4.50% notes due 2027
Liabilities:
Notes Payable	677,411	671,538
Estimate Of Fair Value, Fair Value Disclosure [Member] | 4.75% notes due 2028
Liabilities:
Notes Payable	530,992	528,704
Estimate Of Fair Value, Fair Value Disclosure [Member] | 3.63% notes due 2029
Liabilities:
Notes Payable	446,305	440,785
Estimate Of Fair Value, Fair Value Disclosure [Member] | 3.38% notes due 2031
Liabilities:
Notes Payable	597,492	594,734
Estimate Of Fair Value, Fair Value Disclosure [Member] | 3.25% notes due 2033
Liabilities:
Notes Payable	566,881	564,809
Estimate Of Fair Value, Fair Value Disclosure [Member] | Hud Mortgage
Liabilities:
HUD debt - net		31,322
Estimate Of Fair Value, Fair Value Disclosure [Member] | Term Loan Maturity 2024 [Member]
Liabilities:
Term loan	19,750	19,750
Estimate Of Fair Value, Fair Value Disclosure [Member] | 2025 Term Loan [Member]
Liabilities:
Term loan	$ 428,500	$ 428,500

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Increase (decrease) in legal reserve		$ 2.8
Increase (decrease) in insurance receivable		$ 2.8
Indemnification Agreement [Member]
Total commitments	$ 6.5
Minimum [Member] | Indemnification Agreement [Member]
Indemnification agreement occurrence period	18 months
Maximum [Member] | Indemnification Agreement [Member]
Indemnification agreement occurrence period	72 months

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Schedule of remaining commitments) (Detail) $ in Thousands	Mar. 31, 2024 USD ($)
Remaining commitments	$ 257,047
Non Real Estate Loans Receivable [Member]
Remaining commitments	43,304
Real Estate Loans Receivable [Member]
Remaining commitments	51,092
Lessor construction and capital commitments under lease agreements
Remaining commitments	$ 162,651

EARNINGS PER SHARE (Schedule of

EARNINGS PER SHARE (Schedule of Computation of Basic and Diluted Earnings per Share) (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Numerator:
Net income available to common stockholders - basic	$ 67,361	$ 35,942
Add: net income attributable to OP Units	2,036	1,048
Net income available to common stockholders - diluted	$ 69,397	$ 36,990
Denominator:
Denominator for basic earnings per share	246,071	234,954
Effect of dilutive securities:
Common stock equivalents	3,756	1,384
Noncontrolling interest - Omega OP Units	7,437	6,850
Denominator for diluted earnings per share	257,264	243,188
Earnings per share - basic:
Net income available to common stockholders	$ 0.27	$ 0.15
Earnings per share - diluted:
Net income available to common stockholders	$ 0.27	$ 0.15

SUPPLEMENTAL DISCLOSURE TO CO_3

SUPPLEMENTAL DISCLOSURE TO CONSOLIDATED STATEMENTS OF CASH FLOWS (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of cash and cash equivalents and restricted cash:
Cash and cash equivalents	$ 361,773	$ 245,182	$ 442,810
Restricted cash	1,253	3,336	1,920
Cash, cash equivalents and restricted cash at end of period	363,026	248,518	$ 444,730	$ 300,644
Supplemental Information:
Interest paid during the period, net of amounts capitalized	58,412	61,451
Taxes paid during the period	1,249	1,636
Non cash financing activities
Change in fair value of hedges	9,675	(13,516)
Remeasurement of debt denominated in a foreign currency	$ (184)	$ 538

SUBSEQUENT EVENTS (Narrative) (

SUBSEQUENT EVENTS (Narrative) (Details) $ in Thousands			1 Months Ended		3 Months Ended
	Apr. 30, 2024 USD ($) facility	Apr. 01, 2024 USD ($)	May 31, 2024 USD ($) facility	Apr. 30, 2024 USD ($) facility	Mar. 31, 2024 USD ($) facility	Dec. 31, 2023 USD ($)
Subsequent Event [Line Items]
Number of real estate properties | facility					896
Initial Annual Cash Yield (%)				11.50%
Real Estate Assets Acquired					$ 13,300
United Kingdom
Subsequent Event [Line Items]
Initial Annual Cash Yield (%)					9.50%
Real Estate Assets Acquired					$ 5,200
Investment Type Characteristic Real Estate Related Loans [Member]
Subsequent Event [Line Items]
Financing receivable, gross					1,346,970
Non Real Estate Loans Receivable [Member]
Subsequent Event [Line Items]
Financing receivable, gross					$ 390,286	$ 397,246
Subsequent Event [Member]
Subsequent Event [Line Items]
Payments to acquire real estate			$ 62,700
Percentage of annual escalators	2%		2.50%	2%
Financing receivable, weighted average term, new real estate loans			6 months
Real Estate Assets Acquired				$ 31,000
Subsequent Event [Member] | Term Loan Maturity 2024 [Member]
Subsequent Event [Line Items]
Repayments of debt	$ 19,800
Subsequent Event [Member] | Senior Notes [Member]
Subsequent Event [Line Items]
Repayments of debt		$ 400,000
Debt instrument, interest rate, stated percentage		4.95%
Subsequent Event [Member] | Real Estate Loans Receivable [Member]
Subsequent Event [Line Items]
Financing receivable, face amount			$ 71,700
Subsequent Event [Member] | Facilities Acquired
Subsequent Event [Line Items]
Number of real estate properties | facility	1		32	1
Subsequent Event [Member] | Weighted Average [Member]
Subsequent Event [Line Items]
Initial Annual Cash Yield (%)			10%
Interest rate			10%

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non Rule 10b5-1 Arrangement Modified	false