Revenue and EBITDA Growth
Total revenues for the first quarter were $386.9 million, a 4% increase over last year. Adjusted EBITDAre was $75.1 million, up 17% year-over-year.
SHOP Segment Performance
Same-property NOI in the SHOP segment increased by 33.6% sequentially and 42.1% year-over-year. Occupancy increased 130 basis points to 80.2%, and SHOP NOI margin improved 320 basis points year-over-year to 11.2%.
Asset Sales and Deleveraging
Completed $332 million in asset sales and used proceeds to pay down debt, including $299 million from MUSE and Brookdale sales.
Medical Office and Life Science Leasing
145,000 square feet of new and renewal leasing with weighted average rents 18.4% higher than prior rents.