v3.26.1
Condensed Consolidated Statements of Equity (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
Total
Total Stockholders’ Equity
Common Shares
Additional Paid-in Capital
Accumulated Distributions in Excess of Earnings
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2024     268,769        
Beginning balance at Dec. 31, 2024   $ 1,815,139 $ 266 $ 2,609,433 $ (776,566) $ (17,994) $ 0
Increase (Decrease) in Stockholders' Equity              
Issuance of common shares (in shares)     10,529        
Issuance of common shares   112,099 $ 11 112,088      
Distributions declared $ (40,738) (40,738)     (40,738)   (3)
Redemption of common shares (in shares)     (5,067)        
Redemption of common shares   (61,520) $ (6) (61,514)      
Selling commissions, dealer manager fees and distribution and stockholder servicing fees   (1,221)   (1,221)      
Offering costs   (2,385)   (2,385)      
Net income (loss)   115,256     115,256   3
Foreign currency translation adjustment   11,290       11,290  
Foreign currency translation adjustment reclassified into earnings   3,845       3,845  
Ending balance (in shares) at Mar. 31, 2025     274,231        
Ending balance at Mar. 31, 2025   1,951,765 $ 271 2,656,401 (702,048) (2,859) 0
Beginning balance (in shares) at Dec. 31, 2024     268,769        
Beginning balance at Dec. 31, 2024   1,815,139 $ 266 2,609,433 (776,566) (17,994) 0
Increase (Decrease) in Stockholders' Equity              
Net income (loss) 89,001            
Foreign currency translation adjustment 40,526            
Ending balance (in shares) at Jun. 30, 2025     281,493        
Ending balance at Jun. 30, 2025   1,981,474 $ 280 2,728,828 (770,166) 22,532 0
Beginning balance (in shares) at Dec. 31, 2024     268,769        
Beginning balance at Dec. 31, 2024   1,815,139 $ 266 2,609,433 (776,566) (17,994) 0
Increase (Decrease) in Stockholders' Equity              
Distributions declared (169,991)            
Ending balance (in shares) at Dec. 31, 2025     298,025        
Ending balance at Dec. 31, 2025 1,978,676 1,978,676 $ 296 2,885,443 (929,266) 22,203 0
Beginning balance (in shares) at Mar. 31, 2025     274,231        
Beginning balance at Mar. 31, 2025   1,951,765 $ 271 2,656,401 (702,048) (2,859) 0
Increase (Decrease) in Stockholders' Equity              
Issuance of common shares (in shares)     13,836        
Issuance of common shares   136,211 $ 14 136,197      
Distributions declared (41,834) (41,834)     (41,834)   (26)
Redemption of common shares (in shares)     (6,574)        
Redemption of common shares   (60,549) $ (5) (60,544)      
Selling commissions, dealer manager fees and distribution and stockholder servicing fees   (1,876)   (1,876)      
Offering costs   (1,350)   (1,350)      
Net income (loss) (26,258) (26,284)     (26,284)   26
Foreign currency translation adjustment 25,391 25,391       25,391  
Ending balance (in shares) at Jun. 30, 2025     281,493        
Ending balance at Jun. 30, 2025   1,981,474 $ 280 2,728,828 (770,166) 22,532 0
Beginning balance (in shares) at Dec. 31, 2025     298,025        
Beginning balance at Dec. 31, 2025 1,978,676 1,978,676 $ 296 2,885,443 (929,266) 22,203 0
Increase (Decrease) in Stockholders' Equity              
Issuance of common shares (in shares)     16,556        
Issuance of common shares   162,903 $ 16 162,887      
Distributions declared (45,960) (45,960)     (45,960)   (3)
Redemption of common shares (in shares)     (6,184)        
Redemption of common shares   (72,780) $ (8) (72,772)      
Selling commissions, dealer manager fees and distribution and stockholder servicing fees   (1,964)   (1,964)      
Offering costs   (1,562)   (1,562)      
Net income (loss)   39,775     39,775   3
Foreign currency translation adjustment   (11,011)       (11,011)  
Ending balance (in shares) at Mar. 31, 2026     308,397        
Ending balance at Mar. 31, 2026   2,048,077 $ 304 2,972,032 (935,451) 11,192 0
Beginning balance (in shares) at Dec. 31, 2025     298,025        
Beginning balance at Dec. 31, 2025 1,978,676 1,978,676 $ 296 2,885,443 (929,266) 22,203 0
Increase (Decrease) in Stockholders' Equity              
Distributions declared (93,192)            
Net income (loss) 30,271            
Foreign currency translation adjustment (14,103)            
Ending balance (in shares) at Jun. 30, 2026     315,356        
Ending balance at Jun. 30, 2026 2,262,004 2,058,440 $ 313 3,041,599 (991,572) 8,100 203,564
Beginning balance (in shares) at Mar. 31, 2026     308,397        
Beginning balance at Mar. 31, 2026   2,048,077 $ 304 2,972,032 (935,451) 11,192 0
Increase (Decrease) in Stockholders' Equity              
Issuance of common shares (in shares)     14,060        
Issuance of common shares   138,651 $ 15 138,636      
Issuance of Operating Partnership Units             207,111
Distributions declared (47,232) (47,232)     (47,232)   (2,929)
Redemption of common shares (in shares)     (7,101)        
Redemption of common shares   (65,769) $ (6) (65,763)      
Selling commissions, dealer manager fees and distribution and stockholder servicing fees   (1,272)   (1,272)      
Offering costs   (2,034)   (2,034)      
Net income (loss) (9,507) (8,889)     (8,889)   (618)
Foreign currency translation adjustment (3,092) (3,092)       (3,092)  
Ending balance (in shares) at Jun. 30, 2026     315,356        
Ending balance at Jun. 30, 2026 $ 2,262,004 $ 2,058,440 $ 313 $ 3,041,599 $ (991,572) $ 8,100 $ 203,564