Segment Information - Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Mar. 31, 2026 |
Jun. 30, 2025 |
Mar. 31, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
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| Segment Reporting [Line Items] | ||||||
| Management fee income | $ 207,648 | $ 93,525 | $ 330,280 | $ 185,448 | ||
| General and administrative expense | (14,351) | (9,729) | (24,814) | (18,201) | ||
| Transaction, transition and restructuring costs | (4,775) | (461) | (30,869) | (1,071) | ||
| Depreciation and amortization expense | (43,183) | (13,646) | (63,143) | (27,332) | ||
| Third-party property management fees | 4,836 | 0 | 5,884 | 0 | ||
| Interest income | 321 | 986 | 540 | 1,228 | ||
| Interest expense | (22,508) | (9,271) | (35,341) | (18,717) | ||
| Gain on extinguishment of debt, net | 3,871 | 0 | 3,871 | 0 | ||
| Loss from equity method investment | (604) | (383) | (812) | (713) | ||
| Other income (expense), net | (15) | 9,063 | 539 | 8,513 | ||
| Provision for income taxes | (325) | (91) | (533) | (166) | ||
| Net loss | (24,721) | $ (41,450) | (1,973) | $ (13,025) | (66,171) | (14,998) |
| Rental income | ||||||
| Segment Reporting [Line Items] | ||||||
| Management fee income | 7,506 | 0 | 9,201 | 0 | ||
| Management fee income | ||||||
| Segment Reporting [Line Items] | ||||||
| Management fee income | 1,185 | 1,134 | 2,330 | 2,195 | ||
| Reportable Segment | ||||||
| Segment Reporting [Line Items] | ||||||
| Segment net operating income | 56,140 | 21,236 | 83,211 | 41,377 | ||
| Management fee income | 188,023 | 81,845 | 296,450 | 161,100 | ||
| Other operating expenses | (3,147) | (811) | (4,467) | (2,111) | ||
| General and administrative expense | (14,351) | (9,729) | (24,814) | (18,201) | ||
| Transaction, transition and restructuring costs | (4,775) | (461) | (30,869) | (1,071) | ||
| Depreciation and amortization expense | (43,183) | (13,646) | (63,143) | (27,332) | ||
| Third-party property management fees | (4,836) | 0 | (5,884) | 0 | ||
| Interest income | 321 | 986 | 540 | 1,228 | ||
| Interest expense | (22,508) | (9,271) | (35,341) | (18,717) | ||
| Gain on extinguishment of debt, net | 3,871 | 0 | 3,871 | 0 | ||
| Loss from equity method investment | (604) | (383) | (812) | (713) | ||
| Other income (expense), net | (15) | 9,063 | 539 | 8,513 | ||
| Provision for income taxes | (325) | (91) | (533) | (166) | ||
| Net loss | (24,721) | (1,973) | (66,171) | (14,998) | ||
| Reportable Segment | Rental income | ||||||
| Segment Reporting [Line Items] | ||||||
| Management fee income | 7,506 | 0 | 9,201 | 0 | ||
| Reportable Segment | Management fee income | ||||||
| Segment Reporting [Line Items] | ||||||
| Management fee income | $ 1,185 | $ 1,134 | $ 2,330 | $ 2,195 | ||
| X | ||||||||||
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Reflects the difference between the fair value of payments made to legally extinguish a debt and its carrying value at that time. This item excludes the write-off of amounts previously capitalized as debt issuance costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense for investment management fee, including, but not limited to, expense in connection with research, selection, supervision, and custody of investment. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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