The following tables present segment reporting for the three months ended September 30, 2018 and 2017 (dollars in thousands): Statement of Operations: Three Months Ended September 30, 2018 (1) Real Estate Equity Real Estate Debt Corporate (2) Total Rental and resident fee income $ 72,455 $  $  $ 72,455 Net interest income on debt and securities  1,943  1,943 Other revenue 846  169 1,015 Property operating expenses (47,355 )   (47,355 ) Interest expense (17,595 )  (82 ) (17,677 ) Other expenses related to securitization trust     Transaction costs     Asset management and other fees - related party   (5,951 ) (5,951 ) General and administrative expenses (232 ) (10 ) (2,576 ) (2,818 ) Depreciation and amortization (25,629 )   (25,629 ) Impairment loss     Unrealized gain (loss) on senior housing mortgage loans and debt held in securitization trust, net     Realized gain (loss) on investments and other 726   726 Income (loss) before equity in earnings (losses) of unconsolidated ventures and income tax benefit (expense) (16,784 ) 1,933 (8,440 ) (23,291 ) Equity in earnings (losses) of unconsolidated ventures 16,631   16,631 Income tax benefit (expense) (10 )   (10 ) Net income (loss) $ (163 ) $ 1,933 $ (8,440 ) $ (6,670 ) _______________________________________ (1) For the three months ended September 30, 2018 , the Company did not have activity in the healthcare-related securities segment as a result of having sold the Class B certificates of its consolidated Investing VIE in March 2018 and no longer having to consolidate the related interest income and interest expense on the consolidated statements of operations. (2) Includes unallocated asset management fee-related party and general and administrative expenses. Three Months Ended September 30, 2017 Real Estate Equity Real Estate Debt Healthcare-Related Securities Corporate (1) Subtotal Investing VIE (2) Total Rental and resident fee income $ 73,740 $  $  $  $ 73,740 $  $ 73,740 Net interest income on debt and securities  1,940 1,025 (3) (389 ) (3) 2,576 981 3,557 Other revenue 541   120 661  661 Property operating expenses (42,981 )    (42,981 )  (42,981 ) Interest expense (15,687 )    (15,687 )  (15,687 ) Other expenses related to securitization trust      (981 ) (981 ) Transaction costs (3,814 )    (3,814 )  (3,814 ) Asset management and other fees - related party    (13,299 ) (13,299 )  (13,299 ) General and administrative expenses (262 ) (12 )  (2,767 ) (3,041 )  (3,041 ) Depreciation and amortization (24,454 )    (24,454 )  (24,454 ) Unrealized gain (loss) on senior housing mortgage loans and debt held in securitization trust, net   (5 ) 389 384  384 Realized gain (loss) on investments and other        Income (loss) before equity in earnings (losses) of unconsolidated ventures and income tax benefit (expense) (12,917 ) 1,928 1,020 (15,946 ) (25,915 )  (25,915 ) Equity in earnings (losses) of unconsolidated ventures (18,557 )    (18,557 )  (18,557 ) Income tax benefit (expense) (15 )    (15 )  (15 ) Net income (loss) $ (31,489 ) $ 1,928 $ 1,020 $ (15,946 ) $ (44,487 ) $  $ (44,487 ) _______________________________________ (1) Includes unallocated asset management fee-related party and general and administrative expenses. (2) Investing VIEs are not considered to be a segment that the Company conducts its business through, however U.S. GAAP requires the Company, as the primary beneficiary, to present the assets and liabilities of the securitization trust on its consolidated balance sheets and recognize the related interest income and interest expense, as net interest income on the consolidated statements of operations. Though U.S. GAAP requires this presentation, the Company views its investment in the securitization trust as a net investment in healthcare-related securities. (3) Represents income earned from the healthcare-related securities purchased at a discount, recognized using the effective interest method had the transaction been recorded as an available for sale security, at amortized cost. During the three months ended September 30, 2017, $0.4 million was attributable to discount accretion income and was eliminated in consolidation in the corporate segment. The following tables present segment reporting for the nine months ended September 30, 2018 and 2017 (dollars in thousands): Statement of Operations: Nine Months Ended September 30, 2018 Real Estate Equity Real Estate Debt Healthcare-Related Securities Corporate (1) Subtotal Investing VIE (2) Total Rental and resident fee income $ 217,858 $  $  $  $ 217,858 $  $ 217,858 Net interest income on debt and securities  5,763 828 (3) (314 ) (3) 6,277 811 7,088 Other revenue 2,228   464 2,692  2,692 Property operating expenses (141,510 )    (141,510 )  (141,510 ) Interest expense (52,215 )   (193 ) (52,408 )  (52,408 ) Other expenses related to securitization trust      (811 ) (811 ) Transaction costs (806 )    (806 )  (806 ) Asset management and other fees - related party    (17,845 ) (17,845 )  (17,845 ) General and administrative expenses (734 ) (29 ) (5 ) (9,159 ) (9,927 )  (9,927 ) Depreciation and amortization (81,943 )    (81,943 )  (81,943 ) Impairment loss (5,239 )    (5,239 )  (5,239 ) Unrealized gain (loss) on senior housing mortgage loans and debt held in securitization trust, net   (314 ) 314    Realized gain (loss) on investments and other 726  3,495  4,221  4,221 Income (loss) before equity in earnings (losses) of unconsolidated ventures and income tax benefit (expense) (61,635 ) 5,734 4,004 (26,733 ) (78,630 )  (78,630 ) Equity in earnings (losses) of unconsolidated ventures 3,907    3,907  3,907 Income tax benefit (expense) (40 )    (40 )  (40 ) Net income (loss) $ (57,768 ) $ 5,734 $ 4,004 $ (26,733 ) $ (74,763 ) $  $ (74,763 ) _______________________________________ (1) Includes unallocated asset management fee-related party and general and administrative expenses. (2) Investing VIEs are not considered to be a segment that the Company conducts its business through, however U.S. GAAP requires the Company, as the primary beneficiary, to present the assets and liabilities of the securitization trust on its consolidated balance sheets and recognize the related interest income and interest expense, as net interest income on the consolidated statements of operations. Though U.S. GAAP requires this presentation, the Company views its investment in the securitization trust as a net investment in healthcare-related securities. (3) Represents income earned from the healthcare-related securities purchased at a discount, recognized using the effective interest method had the transaction been recorded as an available for sale security, at amortized cost. During the nine months ended September 30, 2018 , $0.3 million was attributable to discount accretion income and was eliminated in consolidation in the corporate segment. Nine Months Ended September 30, 2017 Real Estate Equity Real Estate Debt Healthcare-Related Securities Corporate (1) Subtotal Investing VIE (2) Total Rental and resident fee income $ 207,249 $  $  $  $ 207,249 $  $ 207,249 Net interest income on debt and securities  5,755 3,016 (3) (1,122 ) (3) 7,649 2,947 10,596 Other revenue 1,595   596 2,191  2,191 Property operating expenses (118,526 )    (118,526 )  (118,526 ) Interest expense (44,479 )    (44,479 )  (44,479 ) Other expenses related to securitization trust      (2,947 ) (2,947 ) Transaction costs (6,778 )    (6,778 )  (6,778 ) Asset management and other fees - related party    (32,716 ) (32,716 )  (32,716 ) General and administrative expenses (682 ) (39 )  (7,671 ) (8,392 )  (8,392 ) Depreciation and amortization (69,223 )    (69,223 )  (69,223 ) Unrealized gain (loss) on senior housing mortgage loans and debt held in securitization trust, net   (14 ) 1,122 1,108  1,108 Realized gain (loss) on investments and other 118    118  118 Income (loss) before equity in earnings (losses) of unconsolidated ventures and income tax benefit (expense) (30,726 ) 5,716 3,002 (39,791 ) (61,799 )  (61,799 ) Equity in earnings (losses) of unconsolidated ventures (31,234 )    (31,234 )  (31,234 ) Income tax benefit (expense) (56 )    (56 )  (56 ) Net income (loss) $ (62,016 ) $ 5,716 $ 3,002 $ (39,791 ) $ (93,089 ) $  $ (93,089 ) _______________________________________ (1) Includes unallocated asset management fee-related party and general and administrative expenses. (2) Investing VIEs are not considered to be a segment through which the Company conducts business, however U.S. GAAP requires the Company, as the primary beneficiary, to present the assets and liabilities of the securitization trust on its consolidated balance sheets and recognize the related interest income and interest expense, as net interest income on the consolidated statements of operations. Though U.S. GAAP requires this presentation, the Company views its investment in the securitization trust as a net investment in healthcare-related securities. (3) Represents income earned from the healthcare-related securities purchased at a discount, recognized using the effective interest method had the transaction been recorded as an available for sale security, at amortized cost. During the nine months ended September 30, 2017, $1.1 million was attributable to discount accretion income and was eliminated in consolidation in the corporate segment.