v3.26.1
Related Party and Other Transactions (Tables)
 6 Months Ended
Jun. 30, 2026
Related Party Transactions [Abstract]  
Schedule of Components of Due to Affiliated Entities
The following table details the components of due to affiliates ($ in thousands): 
June 30, 2026December 31, 2025
Accrued stockholder servicing fee$656,169 $724,771 
Performance participation allocation243,066 — 
Accrued management fee59,437 56,818 
Other8,852 10,152 
Total$967,524 $791,741 
Schedule of Related Party Expenses Incurred and Amortization of Incentive Compensation Awards Capitalized Support Services
The following tables detail the amounts incurred for portfolio companies owned by Blackstone-advised investment vehicles ($ in thousands):
Service
Provider Expenses
Amortization of
Service Provider
Incentive Compensation Awards		Capitalized Transaction
Support Services
Three Months Ended June 30,Three Months Ended June 30,Three Months Ended June 30,
202620252026202520262025
Link Logistics Real Estate LLC$28,520 $30,377 $5,975 $6,398 $2,710 $6,578 
TAH Operations LLC(1)
20,316 27,264 473 2,083 2,079 — 
LivCor, LLC13,982 26,162 3,831 4,988 1,424 2,111 
Revantage(2)
8,549 7,128 3,245 2,443 — 15 
Apartment Income REIT, L.P.
7,691 577 292 — 600 20 
Perform Properties LLC7,517 7,209 563 126 759 277 
BRE Hotels and Resorts LLC1,842 3,337 23 336 — 25 
BPP MFNY Employer LLC560 828 253 300 — — 
Longview Senior Housing, LLC486 320 — — — — 
Brio Real Estate, LLC23 — — — — — 
$89,486 $103,202 $14,655 $16,674 $7,572 $9,026 
Service
Provider Expenses
Amortization of
Service Provider
Incentive Compensation Awards
Capitalized Transaction
Support Services
Six Months Ended June 30,Six Months Ended June 30,Six Months Ended June 30,
202620252026202520262025
Link Logistics Real Estate LLC$59,864 $59,049 $12,996 $12,795 $7,598 $8,902 
TAH Operations LLC(1)
44,941 39,022 1,598 2,083 2,079 — 
LivCor, LLC36,618 54,456 8,266 9,977 2,956 3,409 
Revantage(2)
17,133 16,434 6,628 4,887 — 15 
Perform Properties LLC15,571 15,680 699 250 2,299 544 
Apartment Income REIT, L.P.
9,367 577 584 — 980 20 
BRE Hotels and Resorts LLC4,223 6,349 68 673 — 25 
BPP MFNY Employer LLC1,065 1,694 536 601 — — 
Longview Senior Housing, LLC632 602 — — — — 
Brio Real Estate, LLC2 — — — — — 
$189,416 $193,863 $31,375 $31,266 $15,912 $12,915 
(1)TAH Operations LLC began providing services to the Company on February 1, 2025.
(2)Includes Revantage Corporate Services, LLC and Revantage Global Services Europe S.à r.l.
Schedule of Incentive Compensation Awards The following table details the incentive compensation awards issued to certain employees of April Housing and ACC ($ in thousands):
December 31, 2025For the Six Months Ended June 30, 2026June 30, 2026
Plan YearUnrecognized Compensation CostValue of Awards Issued
Forfeiture of Unvested Awards
Amortization of Compensation Cost
Unrecognized Compensation CostRemaining Amortization Period
2023$1,369 $— $— $(702)$667 0.5 year
20244,727 — (175)(1,416)3,136 1.3 years
20259,347 — (516)(2,081)6,750 2.0 years
2026— 16,452 (63)(2,742)13,647 2.8 years
Total$15,443 $16,452 $(754)$(6,941)$24,200 
The following table details the incentive compensation awards ($ in thousands):
December 31, 2025For the Six Months Ended June 30, 2026June 30, 2026
Plan YearUnrecognized Compensation Cost Value of Awards IssuedForfeiture of Unvested AwardsAmortization of Compensation CostUnrecognized Compensation CostRemaining Amortization Period
2023$4,833 $— $(774)$(1,691)$2,368 0.5 year
202419,155 — (2,247)(4,245)12,663 1.3 years
202553,940 — (1,230)(12,870)39,840 2.0 years
2026— 75,432 — (12,569)62,863 2.8 years
Total$77,928 $75,432 $(4,251)$(31,375)$117,734