v3.25.4
Investments - Schedule of Gross Investment Activity (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
investmentLocation
Dec. 31, 2024
USD ($)
investmentLocation
Dec. 31, 2023
USD ($)
investmentLocation
Number of Investment Locations      
Beginning balance | investmentLocation 2,104 1,873 1,653
Acquisitions of and additions to real estate investments | investmentLocation 255 264 291
Sales of investments in real estate | investmentLocation (60) (46) (51)
Relinquishment of properties at end of ground lease term | investmentLocation   (3) (2)
Investments in loans receivable | investmentLocation 15 33 2
Principal collections on and settlements of loans and direct financing lease receivables | investmentLocation (14) (17) (20)
Ending balance | investmentLocation 2,300 2,104 1,873
Dollar Amount of Investments      
Beginning balance $ 6,029,433 $ 4,915,246 $ 4,055,385
Acquisitions of and additions to real estate investments 1,240,364 1,100,712 1,004,075
Sales of investments in real estate (132,951) (96,774) (120,809)
Relinquishment of properties at end of ground lease term   (1,471) (1,543)
Provisions for impairment of real estate (11,997) (14,845) (3,548)
Investments in loans receivable 97,868 138,464 13,091
Principal collections on and settlements of loans and direct financing lease receivables (48,503) (10,022) (27,908)
Other (7,216) (1,877) (3,497)
Ending balance 7,166,998 6,029,433 $ 4,915,246
Less: accumulated depreciation and amortization (612,674) (476,827)  
Net investments $ 6,554,324 $ 5,552,606