v3.26.1
Net Investment in Sales-type Leases and Ground Lease Receivables - Joint Venture (Details)
$ in Thousands
1 Months Ended 6 Months Ended 16 Months Ended
Aug. 30, 2024
USD ($)
lease
May 31, 2023
USD ($)
Jun. 30, 2026
USD ($)
lease
Jun. 30, 2025
USD ($)
Aug. 30, 2024
USD ($)
lease
Joint venture          
Earliest exercise date | lease     7    
Ground Lease acquisition purchase price     $ 107,725 $ 54,948  
Carrying value of noncontrolling interest acquired $ 46,000       $ 46,000
Joint Venture for New Acquisitions of Ground Leases          
Joint venture          
Joint venture commitments   $ 275,000      
Controlling interest in joint venture   55.00%      
Percent of Promote fee     15.00%    
Internal rate of return     9.00%    
Promote fee cap percent     1.275    
Number of Ground Leases acquired | lease 9       9
Ground Lease acquisition purchase price         $ 170,400
Funded amount of Ground Lease acquisition $ 101,200       $ 101,200
Sovereign wealth fund | Joint Venture for New Acquisitions of Ground Leases          
Joint venture          
Joint venture commitments   $ 225,000      
Joint venture for new acquisitions of Ground Leases | Sovereign wealth fund          
Joint venture          
Ownership percentage   45.00%      
Brookfield JV          
Joint venture          
Acquired interest ground leases | lease     7    
Cash at gross valuation     $ 348,000    
Cash proceeds from the formation of consolidated joint venture     $ 170,500    
Brookfield JV | Brookfield Corporation          
Joint venture          
Ownership percentage     49.00%    
First five year following acquisition | Joint Venture for New Acquisitions of Ground Leases          
Joint venture          
Percent of management fee     0.25%    
Management fee term     5 years    
After five years of acquisition | Joint Venture for New Acquisitions of Ground Leases          
Joint venture          
Percent of management fee     0.15%    
Sovereign wealth fund          
Joint venture          
Purchase of joint venture partner share of Ground Leases $ 48,300