Farrell Granath

I was just wondering if you could bridge that change what other assets were maybe being considered

How much of the near-term or line of sight leasing is potentially for this alternate use versus life science

has that changed your outlook at all and expectations into '26

Is -- was that a one-off transaction that you're looking to maintain? Or is that something that you could see doing across other properties

what would turn your perspective or optimism a little bit higher, either if that's greater IPOs or different capital market movements

I know last quarter, you had some commentary about potential benefits to occupancy, about $600,000 or 1.7%. I was curious on the update

will we see that starting to peak anytime soon or any insights

can you share any possible trends or catalysts that led up to this deal being able to close

Does this encompass a worst-case scenario, especially in terms of what could happen in the biotech market, specifically with capital raising or within the range is there a worst case and best-case ...

do you think that that pacing of leasing within private biotech is sustainable going forward

I was wondering if you could bridge between the offsetting of the vacancies with your new leasing potential dispositions and also your redevelopment that you saw? What were the benefiting factors f...

I'm curious how that maybe has influenced or even changed your thinking and timing on opportunistic life science investments going forward? If that has actually moved up the time line or if there i...

that 100,000 seems a little bit lower than potential past LOIs that we've been seeing

Can you walk through a few of the underlying assumptions within that range?

I was curious if you could outline your kind of risk list and how that compares to the beginning of the year

I've seen some recent headlines about the influx of demand for the AI companies, especially when it comes to lab spaces

how much foresight maybe left over impacts from those -- that specific bucket, would you expect to maybe weigh on the occupancy?

Can you just speak a little bit more on the MOBs and maybe some of the tenants such as not or at least the type of tenant that chose to not renew?

what would change you to a more positive expectation and performance perhaps in the back half of 2025 if there's any news or updates to be expected?

if you could potentially quantify that with your current pipeline if that is what you're seeing are things getting pushed out by single quarters or longer term

Curious if you can go through how this ties to your acquisition guidance, if anything has changed in how you're viewing the landscape of capital deployment

when it comes to increased M&A in the life science area, how are you seeing that either impact demand or are you seeing a different type of clientele

Are there any other contributing factors or initiatives going into that figure

on the rollout of Ventas OI, is that fully with all your operators currently on your SHOP platform

is there a quantifiable difference between what your pipeline is today versus what it was 1 year ago for '25

where can we potentially see this margin number move? Are you seeing additional revenue growth or margin expansion from the layering of the Ventas OI

I was just wondering if that has to do with anything coming into the Same-Store at a higher occupancy? Or if you're seeing things in market trends right now

what's your comfortability of potentially expanding that into the U.K. or in other areas as well

What was some of the best operational advice that took away from those organizations

does this now frame your SNF portfolio in total as a source of funds for future disposition or future acquisitions?

I was wondering if you could discuss your decision why for the structure