Nikhil Chaudhri

“I am pleased to report that our investment activity and pipeline remain incredibly robust, visible, and actionable. Over the past three months since our last call, we have either acquired or entered into agreements to acquire an additional $1.2 billion of assets.”

“It's hard to believe that we're almost at the end of the summer. We have worked tirelessly over the last three months since our first-quarter call, expanding on our investment activity by an additional $2.1 billion.”

“Before speaking to our recent investment activity, I wanted to share some high-level market observations. As we have indicated before, we are in a unique environment in which business fundamentals are very strong, and at the same time, the opportunity to deploy capital remains extremely compelling.”

“On the transaction side, as Shankh mentioned, 2023 marked the most active year in the history of the company. Our new investment activity of almost $6 billion spanned more than 50 different transactions with a median transaction size of $54 million, in which we acquired 153 properties over the course of the year.”

“So look, we're pretty pleased with the performance that we've seen so far. If you remember, there were a total of about 147 buildings that were being transitioned over; of those, 133 have already been transitioned to the new operators.”