v3.26.1
Investments in Unconsolidated Entities - Schedule of Unconsolidated Entities (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Balance Sheet          
Total assets [1] $ 1,322,359   $ 1,322,359   $ 1,200,916
Total liabilities [2] (512,186)   (512,186)   (439,946)
Total equity 34,055   34,055   67,071
Operating Data          
Revenue 24,879 $ 15,648 50,298 $ 32,231  
Net income (loss) 274 (3,783) 330 (6,125)  
Total          
Operating Data          
Revenue 54,341 42,354 103,135 73,607  
Net income (loss) 1,634 (7,366) (1,473) (12,742)  
Vida JV LLC          
Balance Sheet          
Total assets 370,526   370,526   364,661
Total liabilities (231,416)   (231,416)   (225,438)
Total equity (139,110)   (139,110)   (139,223)
Operating Data          
Revenue 9,751 9,450 19,246 18,821  
Net income (loss) 322 (1,606) 392 (2,944)  
San Simeon Preferred Equity          
Balance Sheet          
Total assets 132,973   132,973   134,192
Total liabilities (79,797)   (79,797)   (78,500)
Total equity (53,176)   (53,176)   (55,692)
Operating Data          
Revenue 2,953 2,722 5,751 5,405  
Net income (loss) 764 569 965 1,357  
Retail GP Fund          
Balance Sheet          
Total assets 1,153,188   1,153,188   1,111,223
Total liabilities (754,681)   (754,681)   (718,971)
Total equity (398,507)   (398,507)   (392,252)
Operating Data          
Revenue 35,956 26,234 69,002 43,469  
Net income (loss) (836) (5,740) (4,173) (9,512)  
Other          
Balance Sheet          
Total assets 9,596   9,596   7,154
Total liabilities (9,579)   (9,579)   (8,443)
Total equity (17)   (17)   $ 1,289
Operating Data          
Revenue 5,681 3,948 9,136 5,912  
Net income (loss) $ 1,384 $ (589) $ 1,343 $ (1,643)  
[1] Includes restricted assets of consolidated variable interest entities at June 30, 2026 and December 31, 2025 of $574.3 million and $489.7 million, respectively. See Note 16 — “Variable Interest Entities.”
[2] Includes non-recourse liabilities of consolidated variable interest entities at June 30, 2026 and December 31, 2025 of $150.0 million and $145.7 million, respectively. See Note 16 — “Variable Interest Entities.”