v3.26.1
Reportable Segments (Reconciliation of Property Revenue in Excess of Property Operating Expenses) (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting [Abstract]        
Net income (loss) $ (9,507) $ (26,258) $ 30,271 $ 89,001
Depreciation and amortization 50,958 35,738 106,122 69,449
Asset management fees 13,425 9,058 24,466 17,829
Performance participation allocation 5,673 12,700 11,774 12,700
General and administrative expenses 2,183 1,428 4,062 3,377
Gain (loss) on extinguishment of financing obligations, net (8,277) 0 (8,277) 0
(Gain) loss on derivative instruments 1,535 929 (6,776) 1,807
(Gain) loss on investments in real estate-related securities (17,210) 2,810 (19,269) 5,267
(Gain) loss on sale of real estate 1,813 1,603 (61,877) (149,639)
Foreign currency (gains) losses (1,422) (4,332) (4,448) (11,670)
Interest expense 46,265 37,229 98,870 70,433
Other income and expenses (6,537) (5,053) (14,574) (10,515)
(Benefit) provision for income taxes 13 (608) 187 886
Provision for income taxes related to sale of real estate 0 0 0 23,333
Total revenues in excess of property operating expenses $ 78,912 $ 65,244 $ 160,531 $ 122,258