v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY AND NONCONTROLLING INTERESTS - USD ($)
$ in Thousands
Total
Redeemable Common Stock
Common Class A
Common Class C
Common Stock
Common Class A
Common Stock
Common Class C
Deferred Consideration
Common Class C
Additional Paid-in Capital
Accumulated Deficit
Beginning balance at Dec. 31, 2024   $ 5,955,662              
Increase (Decrease) in Temporary Equity [Roll Forward]                  
Redemption of Common Units   (40,821)              
Net income   13,132              
Change in redemption value of noncontrolling interest   (401,214)              
Distributions paid to Common Unit limited partners   (76,204)              
Ending balance at Mar. 31, 2025   5,450,555              
Beginning balance (in shares) at Dec. 31, 2024         59,930,000 97,783,000 7,680,000    
Beginning balance at Dec. 31, 2024 $ (2,976,596)       $ 6 $ 9 $ 1 $ 0 $ (2,976,612)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Redemption of Common Units (in shares)         744,000 (744,000)      
Redemption of Common Units 40,821             40,821  
Issuance of common stock through dividend and distribution reinvestment plan (in shares)         6,000        
Issuance of common stock through dividend and distribution reinvestment plan 390             390  
Share-based compensation (in shares)         242,000        
Share-based compensation 20,653             20,653  
Net income (loss) 6,130               6,130
Change in redemption value of noncontrolling interest 401,214               401,214
Recognition of deferred tax asset 5,102             5,102  
Dividends on Class A Common Stock (47,367)               (47,367)
Ending balance (in shares) at Mar. 31, 2025         60,922,000 97,039,000 7,680,000    
Ending balance at Mar. 31, 2025 (2,549,653)       $ 6 $ 9 $ 1 66,966 (2,616,635)
Beginning balance at Dec. 31, 2025   3,495,762              
Increase (Decrease) in Temporary Equity [Roll Forward]                  
Redemption of Common Units   (182,418)              
Net income   (3,458)              
Change in redemption value of noncontrolling interest   1,280,522              
Distributions paid to Common Unit limited partners   (79,023)              
Ending balance at Mar. 31, 2026   $ 4,511,385              
Beginning balance (in shares) at Dec. 31, 2025     64,080,915 97,557,604 64,081,000 97,558,000 0    
Beginning balance at Dec. 31, 2025 (565,380)       $ 6 $ 10 $ 0 240,725 (806,121)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Redemption of Common Units (in shares)     (4,000,000.0) (4,000,000.0) 4,000,000 (4,000,000)      
Redemption of Common Units 182,418       $ 1 $ (1) $ 0 182,418  
Issuance of common stock through dividend and distribution reinvestment plan (in shares)         11,000        
Issuance of common stock through dividend and distribution reinvestment plan 498             498  
Share-based compensation (in shares)         710,000        
Share-based compensation 20,663             20,663  
Net income (loss) (1,667)               (1,667)
Change in redemption value of noncontrolling interest (1,280,522)             (471,845) (808,677)
Recognition of deferred tax asset 27,541             27,541  
Dividends on Class A Common Stock (52,785)               (52,785)
Ending balance (in shares) at Mar. 31, 2026     68,802,183 93,557,604 68,802,000 93,558,000 0    
Ending balance at Mar. 31, 2026 $ (1,669,234)       $ 7 $ 9 $ 0 $ 0 $ (1,669,250)