| Schedule of Investments in Real Estate, Net |
Investments in real estate, net consisted of the following ($ in thousands):
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
|
December 31, 2025 |
|
Building and building improvements |
|
$ |
16,451,030 |
|
|
$ |
16,452,127 |
|
Land and land improvements |
|
|
2,793,271 |
|
|
|
2,797,405 |
|
Furniture, fixtures and equipment |
|
|
267,446 |
|
|
|
268,251 |
|
Right-of-use asset - operating lease(1) |
|
|
105,230 |
|
|
|
105,230 |
|
Total |
|
|
19,616,977 |
|
|
|
19,623,013 |
|
Accumulated depreciation and amortization |
|
|
(2,857,776 |
) |
|
|
(2,693,881 |
) |
Investments in real estate, net |
|
$ |
16,759,201 |
|
|
$ |
16,929,132 |
|
__________ (1)Refer to Note 14 for additional details on the Company’s leases.
|
| Schedule of Equity Investment In Unconsolidated Real Estate Ventures |
The following table details the Company’s equity investments in unconsolidated real estate ventures ($ in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in Unconsolidated
Real Estate Ventures |
|
Segment |
|
Date
Acquired |
|
Number of Properties |
|
Ownership Interest |
|
March 31, 2026 |
|
|
December 31, 2025 |
|
Extended Stay Portfolio |
|
Other |
|
July 2022 |
|
195 |
|
45% |
|
$ |
281,973 |
|
|
$ |
285,313 |
|
Fort Lauderdale Hotel |
|
Other |
|
March 2019 |
|
1 |
|
43% |
|
|
9,471 |
|
|
|
9,079 |
|
Total investments in unconsolidated real estate ventures |
|
|
|
|
|
$ |
291,444 |
|
|
$ |
294,392 |
|
|
| Schedule of Income (Loss) from Unconsolidated Real Estate Ventures |
The following table details the Company’s income (loss) from equity investments in unconsolidated real estate ventures ($ in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
March 31, |
|
Investments in Unconsolidated Real Estate Ventures |
|
Segment |
|
2026 |
|
|
2025 |
|
Extended Stay Portfolio |
|
Other |
|
$ |
(3,319 |
) |
|
$ |
(2,174 |
) |
Fort Lauderdale Hotel |
|
Other |
|
|
392 |
|
|
|
345 |
|
Total loss from unconsolidated real estate ventures |
|
|
$ |
(2,927 |
) |
|
$ |
(1,829 |
) |
|