v3.25.4
Land, Buildings and Improvements, and Assets Held for Sale - Narratives (Details)
$ in Thousands
12 Months Ended
Dec. 31, 2025
USD ($)
property
Dec. 31, 2024
USD ($)
property
Dec. 31, 2023
USD ($)
property
Aug. 01, 2025
property
Jul. 01, 2025
property
Apr. 01, 2025
property
Sep. 01, 2024
USD ($)
property
Investments in real estate              
Total capitalized costs $ 1,657,339 $ 1,128,809 $ 1,211,397        
Capitalized construction cost $ 98,200            
Construction projects in progress (property) | property 10 4          
Unfunded commitment $ 125,300 $ 72,100          
Capitalized interest 1,100 1,000 600        
Lease termination income 16,900 7,000 11,900        
End lease related settlement 5,300 11,800 9,100        
Sublease Income (5,600) (5,000) (4,900)        
Cash paid for operating lease liabilities 17,300 16,200 16,100        
Increase in value of balance sheet item due to foreign currency translation 32,943 (6,281) 19,758        
Land, buildings and improvements — net lease and other 14,451,306 12,842,869          
Assets held for sale, net $ 3,327 0          
Real Estate Investment Property, Net, Real Estate Leased              
Investments in real estate              
Number of properties (property) | property       1 1 2  
Owned Real Estate [Member]              
Investments in real estate              
Number of properties (property) | property 1,682            
Operating property revenues $ 112,500 146,800 180,300        
Owned Real Estate [Member] | Occupancy              
Investments in real estate              
Operating property revenues 103,900 136,500 164,500        
Owned Real Estate [Member] | Food and beverage              
Investments in real estate              
Operating property revenues $ 8,600 $ 10,300 $ 15,800        
Adjustment              
Investments in real estate              
Number of properties (property) | property 2            
Adjustment | Real Estate Investment Property, Net, Real Estate Leased              
Investments in real estate              
Number of properties (property) | property 26            
Properties reclassified due to lease extension | property 3            
Discontinued Operations, Disposed of by Sale              
Investments in real estate              
Number of properties sold | property 128 176 31        
Discontinued Operations, Held-for-sale              
Investments in real estate              
Number of properties (property) | property 1            
Assets held for sale, net $ 3,300            
Build to Suit              
Investments in real estate              
Number of properties (property) | property 9            
Funding commitment $ 157,000            
Self Storage | Discontinued Operations, Disposed of by Sale              
Investments in real estate              
Number of properties sold | property 1            
Hotels | Adjustment              
Investments in real estate              
Land, buildings and improvements — net lease and other             $ 51,300
Hotels | Adjustment | Owned Real Estate [Member]              
Investments in real estate              
Number of properties (property) | property             4
Construction in progress              
Investments in real estate              
Number of properties (property) | property 3 5 4        
Total capitalized costs $ 68,944 $ 87,000 $ 60,700        
Land, buildings and improvements — net lease and other              
Investments in real estate              
Assets held for sale, net 3,327 $ 0          
Land, buildings and improvements — net lease and other | Owned Real Estate [Member]              
Investments in real estate              
Decrease in operating properties $ 802,100            
Land, buildings and improvements — net lease and other | Discontinued Operations, Disposed of by Sale              
Investments in real estate              
Number of properties sold | property 34            
Other real estate, period increase (decrease) $ (300,300)            
Real Estate Subject to Operating Leases              
Investments in real estate              
Number of properties (property) | property 173 25 12        
Total capitalized costs $ 1,656,317 $ 1,200,000 $ 1,200,000        
Increase in value of balance sheet item due to foreign currency translation 435,900            
Depreciation 331,100 292,900 325,800        
Real Estate Subject to Operating Leases | Long-Term Debt              
Investments in real estate              
Total capitalized costs   4,200          
Real Estate Subject to Operating Leases | Operating Lease Liability              
Investments in real estate              
Total capitalized costs   4,300          
Real Estate Subject to Operating Leases | In-place lease              
Investments in real estate              
Total capitalized costs 252,165 166,100          
Real Estate Subject to Operating Leases | Above-market rent              
Investments in real estate              
Total capitalized costs 14,059 7,100          
Real Estate Subject to Operating Leases | Land              
Investments in real estate              
Total capitalized costs 420,119 219,400 212,600        
Real Estate Subject to Operating Leases | Land | Land lease right-of-use assets              
Investments in real estate              
Total capitalized costs 2,296 4,300          
Real Estate Subject to Operating Leases | Building              
Investments in real estate              
Total capitalized costs   772,300 774,100        
Real Estate Subject to Operating Leases | Net lease intangible              
Investments in real estate              
Total capitalized costs     185,900        
Real Estate Subject to Operating Leases | Land Lease ROU Assets              
Investments in real estate              
Total capitalized costs   400 13,000        
Real Estate Subject to Operating Leases | Below-market ground lease intangibles              
Investments in real estate              
Total capitalized costs 1,495 3,500          
Real Estate Subject to Operating Leases | Prepaid rent              
Investments in real estate              
Total capitalized costs     6,900        
Real Estate Subject to Operating Leases | Buildings and improvements              
Investments in real estate              
Total capitalized costs 995,255            
Real estate operating business              
Investments in real estate              
Increase in value of balance sheet item due to foreign currency translation 7,000            
Depreciation $ 22,500 $ 28,700 $ 29,800        
Real estate operating business | Self Storage Operating Property              
Investments in real estate              
Number of properties (property) | property   1          
Total capitalized costs   $ 7,400          
Real estate operating business | Self Storage              
Investments in real estate              
Number of properties (property) | property 11 78 4        
Total capitalized costs     $ 47,300        
Real estate operating business | Student Housing              
Investments in real estate              
Number of properties (property) | property 1 2          
Real estate operating business | Hotels              
Investments in real estate              
Number of properties (property) | property   4          
Real estate operating business | Land | Self Storage Operating Property              
Investments in real estate              
Total capitalized costs   $ 1,700          
Real estate operating business | Land | Self Storage              
Investments in real estate              
Total capitalized costs     13,500        
Real estate operating business | Building | Self Storage              
Investments in real estate              
Total capitalized costs     31,900        
Real estate operating business | Net lease intangible | Self Storage Operating Property              
Investments in real estate              
Total capitalized costs   400          
Real estate operating business | Net lease intangible | Self Storage              
Investments in real estate              
Total capitalized costs     $ 1,800        
Real estate operating business | Buildings and improvements | Self Storage Operating Property              
Investments in real estate              
Total capitalized costs   $ 5,300          
Hotel              
Investments in real estate              
Number of properties (property) | property 4            
Hotel | Owned Real Estate [Member]              
Investments in real estate              
Number of properties (property) | property 4            
Hotel | Discontinued Operations, Disposed of by Sale              
Investments in real estate              
Number of properties sold | property     8        
Consolidated properties | Self Storage              
Investments in real estate              
Number of properties (property) | property 78 81 80        
Consolidated properties | Student Housing              
Investments in real estate              
Number of properties (property) | property 2            
Consolidated properties | Hotels              
Investments in real estate              
Number of properties (property) | property 4 5 13        
Self Storage | Owned Real Estate [Member]              
Investments in real estate              
Number of properties (property) | property 11            
Number of properties sold | property 63            
Self Storage | Discontinued Operations, Disposed of by Sale              
Investments in real estate              
Number of properties sold | property 63            
Student Housing | Owned Real Estate [Member]              
Investments in real estate              
Number of properties sold | property 1