v3.26.1
Investments in Unconsolidated Entities - Schedule of Unconsolidated Entities (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Balance Sheet      
Total assets [1] $ 1,301,417   $ 1,200,916
Total liabilities [2] (496,944)   (439,946)
Total equity 45,879   67,071
Operating Data      
Revenue 25,419 $ 16,583  
Net income (loss) 56 (2,342)  
Total      
Operating Data      
Revenue 48,792 31,253  
Net income (loss) (3,108) (5,376)  
Vida JV LLC      
Balance Sheet      
Total assets 368,861   364,661
Total liabilities (229,473)   (225,438)
Total equity (139,388)   (139,223)
Operating Data      
Revenue 9,494 9,371  
Net income (loss) 70 (1,338)  
San Simeon Preferred Equity      
Balance Sheet      
Total assets 132,155   134,192
Total liabilities (79,247)   (78,500)
Total equity (52,908)   (55,692)
Operating Data      
Revenue 2,798 2,683  
Net income (loss) 200 788  
Retail GP Fund      
Balance Sheet      
Total assets 1,168,236   1,111,223
Total liabilities (718,711)   (718,971)
Total equity (449,525)   (392,252)
Operating Data      
Revenue 33,046 17,235  
Net income (loss) (3,337) (3,772)  
Other      
Balance Sheet      
Total assets 7,819   7,154
Total liabilities (9,956)   (8,443)
Total equity 2,137   $ 1,289
Operating Data      
Revenue 3,454 1,964  
Net income (loss) $ (41) $ (1,054)  
[1] Includes restricted assets of consolidated variable interest entities at March 31, 2026 and December 31, 2025 of $483.3 million and $489.7 million, respectively. See Note 16 — “Variable Interest Entities.”
[2] Includes non-recourse liabilities of consolidated variable interest entities at March 31, 2026 and December 31, 2025 of $145.8 million and $145.7 million, respectively. See Note 16 — “Variable Interest Entities.”