v3.26.1
Variable Interest Entities - Schedule of Assets and Liabilities of Variable Interest Entities (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Jun. 30, 2025
Assets      
Investments in real estate, net $ 1,453,064 $ 1,294,008  
Intangible assets, net 49,029 43,892  
Cash and cash equivalents 1,227 629 $ 692
Other assets 89,886 82,463  
Total assets [1] 1,619,823 1,440,980  
Liabilities      
Mortgages payable, net 888,610 932,120  
Accounts payable and accrued expenses 12,139 11,242  
Intangible liabilities 7,577 6,394  
Total liabilities [1] 1,054,466 984,935  
Related party      
Liabilities      
Other liabilities 9,896 6,246  
Non related party      
Liabilities      
Other liabilities 6,259 4,613  
VIEs      
Assets      
Investments in real estate, net 610,085 652,242  
Intangible assets, net 26,273 27,442  
Cash and cash equivalents 48 264  
Other assets 54,943 53,781  
Total assets 691,349 733,729  
Liabilities      
Mortgages payable, net 467,027 496,975  
Accounts payable and accrued expenses 15,850 14,089  
Intangible liabilities 434 468  
Total liabilities 484,551 512,993  
VIEs | Related party      
Liabilities      
Other liabilities 2    
VIEs | Non related party      
Liabilities      
Other liabilities $ 1,238 $ 1,461  
[1] Total Assets includes assets of consolidated variable interest entities (“VIEs”) of $691,349 and $733,729 as of June 30, 2026 and December 31, 2025, respectively, that can only be used to settle the obligations of the VIEs; Total Liabilities includes liabilities of consolidated VIEs of $484,551 and $512,993 as of June 30, 2026 and December 31, 2025, respectively, including third-party liabilities for which the creditors or beneficial interest holders do not have recourse to the general credit of the Company.