Upon completion of this offering, we will be the only U.S. publicly traded REIT focused exclusively on the senior housing sector and the only U.S. publicly traded REIT whose entire portfolio is owned and operated under RIDEA structures. We have an initial portfolio consisting of 34 senior housing communities, comprised of 10,422 units as of Dec. 31, 2025. Our communities are located primarily in major retirement markets across 10 states, with units in Florida and Texas representing 69 percent of the total units as of Dec. 31, 2025. All of our communities are owned and operated under RIDEA structures. Services provided by our operators under a RIDEA structure are primarily paid for directly by the residents, rather than governmental reimbursement programs, which provides us with greater visibility into operating cash flow from our communities.

Of the 34 senior housing communities in our portfolio, we describe 15 as “life plan communities” that offer a full continuum of care, including independent living, assisted living, memory care and skilled nursing in large-scale communities.