v3.26.1
Variable Interest Entities - Schedule of Variable Interest Entities (Details)
$ in Thousands
Mar. 31, 2026
USD ($)
entity
Dec. 31, 2025
USD ($)
entity
Mar. 31, 2025
USD ($)
Restricted assets:      
Investments in real estate, net $ 851,876 $ 857,577  
Cash and cash equivalents 33,840 25,578 $ 140,800
Intangible assets, net 39,911 43,207  
Other assets 9,533 7,999  
Total assets [1] 1,301,417 1,200,916  
VIE non-recourse liabilities:      
Mortgages payable, net 235,153 234,748  
Financing obligation, net 53,980 53,983  
Accounts payable, accrued expenses, and other liabilities 25,396 22,340  
Total liabilities [2] $ 496,944 $ 439,946  
Variable Interest Entity, Primary Beneficiary      
Variable Interest Entity [Line Items]      
Total number of consolidated VIEs (in entities) | entity 10 10  
Restricted assets:      
Investments in real estate, net $ 460,490 $ 463,322  
Cash and cash equivalents 4,269 6,547  
Intangible assets, net 16,106 18,005  
Other assets 2,433 1,829  
Total assets 483,298 489,703  
VIE non-recourse liabilities:      
Mortgages payable, net 83,316 83,442  
Financing obligation, net 53,980 53,983  
Accounts payable, accrued expenses, and other liabilities 8,502 8,249  
Total liabilities $ 145,798 $ 145,674  
[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.”