v3.26.1
Segments and Geographic Locations (Tables)
6 Months Ended
Jun. 30, 2026
Segments and Geographic Locations  
Schedule of reconciliation of reportable segment to net income

For the Three Months Ended June 30, 2026

All other &

Real estate

eliminations,

  ​ ​ ​

segment

  ​ ​ ​

net

  ​ ​ ​

Consolidated

Income:

Lease Income

$

1,661,034

$

(1,325)

$

1,659,709

Management fees and other revenues

 

40,834

40,834

Other Income

50,055

40,000

90,055

Total

 

1,711,089

79,509

1,790,598

Expenses:

Property Operating

222,635

(51,195)

171,440

Real estate taxes

130,838

1,067

131,905

Repairs and maintenance

31,575

1,112

32,687

Advertising and promotion

39,899

(843)

39,056

Other

26,792

22,780

49,572

Total

451,739

(27,079)

424,660

NOI of consolidated entities

$

1,259,350

$

106,588

$

1,365,938

Other Income:

Income from unconsolidated entities

119,127

Other Expenses:

Depreciation and amortization

459,876

Home and regional office costs

69,842

General and administrative

12,004

Interest expense

281,164

Loss due to disposal, exchange, or revaluation of equity interests, net

11,950

Income and other tax expense

10,809

Unrealized losses in fair value of publicly traded equity instruments and derivative instrument, net

56,425

Loss on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net

8,747

Other expense

118

Consolidated Net Income

$

574,130

For the Six Months Ended June 30, 2026

All other &

Real estate

eliminations,

  ​ ​ ​

segment

  ​ ​ ​

net

  ​ ​ ​

Consolidated

Income:

Lease Income

$

3,292,454

$

(4,214)

$

3,288,240

Management fees and other revenues

 

81,022

81,022

Other Income

91,919

86,510

178,429

Total

 

3,384,373

163,318

3,547,691

Expenses:

Property Operating

449,666

(107,466)

342,200

Real estate taxes

269,900

(2,035)

267,865

Repairs and maintenance

71,677

1,211

72,888

Advertising and promotion

75,719

(2,733)

72,986

Other

49,785

33,003

82,788

Total

916,747

(78,020)

838,727

NOI of consolidated entities

$

2,467,626

$

241,338

$

2,708,964

Other Income:

Income and other tax benefit

9,125

Income from unconsolidated entities

97,879

Gain on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net

55,593

Other Expenses:

Depreciation and amortization

918,773

Home and regional office costs

137,498

General and administrative

66,303

Interest expense

556,826

Loss due to disposal, exchange, or revaluation of equity interests, net

18,329

Unrealized losses in fair value of publicly traded equity instruments and derivative instrument, net

31,037

Other expense

130

Consolidated Net Income

$

1,142,665

For the Three Months Ended June 30, 2025

All other &

Real estate

eliminations,

segment

net

Consolidated

Income:

Lease Income

$

1,382,428

$

(2,974)

$

1,379,454

Management fees and other revenues

 

37,931

37,931

Other Income

30,050

51,024

81,074

Total

 

1,412,478

85,981

1,498,459

Expenses:

Property Operating

183,092

$

(43,276)

$

139,816

Real estate taxes

104,461

854

105,315

Repairs and maintenance

25,737

501

26,238

Advertising and promotion

37,299

(989)

36,310

Other

16,527

19,127

35,654

Total

367,116

(23,783)

343,333

NOI of consolidated entities

$

1,045,362

$

109,764

$

1,155,126

Other Income:

Gain due to disposal, exchange, or revaluation of equity interests, net

104,499

Income from unconsolidated entities

122,875

Other Expenses:

Depreciation and amortization

339,058

Home and regional office costs

57,564

General and administrative

14,298

Interest expense

232,724

Income and other tax expense

35,107

Unrealized losses in fair value of publicly traded equity instruments and derivative instrument, net

50,455

Loss on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net

9,604

Other expense

9

Consolidated Net Income

$

643,681

For the Six Months Ended June 30, 2025

All other &

Real estate

eliminations,

segment

net

Consolidated

Income:

Lease Income

$

2,757,384

$

(10,502)

$

2,746,882

Management fees and other revenues

 

71,723

71,723

Other Income

55,750

97,117

152,867

Total

 

2,813,134

158,338

2,971,472

Expenses:

Property Operating

354,829

(78,192)

276,637

Real estate taxes

217,948

(5,180)

212,768

Repairs and maintenance

55,294

1,086

56,380

Advertising and promotion

73,126

(2,560)

70,566

Other

31,187

35,445

66,632

Total

732,384

(49,401)

682,983

NOI of consolidated entities

$

2,080,750

$

207,739

$

2,288,489

Other Income:

Gain due to disposal, exchange, or revaluation of equity interests, net

80,507

Income from unconsolidated entities

153,234

Other Expenses:

Depreciation and amortization

667,109

Home and regional office costs

122,630

General and administrative

26,927

Interest expense

459,720

Income and other tax expense

27,470

Unrealized losses in fair value of publicly traded equity instruments and derivative instrument, net

87,220

Loss on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net

9,604

Other expense

9

Consolidated Net Income

$

1,121,541