v3.26.3
Variable Interest Entities - Schedule of Variable Interest Entities (Details)
$ in Thousands
Sep. 30, 2026
USD ($)
entity
Dec. 31, 2025
USD ($)
entity
Sep. 30, 2025
USD ($)
Restricted assets:      
Investments in real estate, net $ 963,960 $ 857,577  
Cash and cash equivalents 20,206 25,578 $ 39,385
Intangible assets, net 54,147 43,207  
Other assets 11,967 7,999  
Total assets [1] 1,441,994 1,200,916  
VIE non-recourse liabilities:      
Mortgages payable, net 235,576 234,748  
Financing obligation, net 53,974 53,983  
Accounts payable, accrued expenses, and other liabilities 40,303 22,340  
Total liabilities [2] $ 543,850 $ 439,946  
Variable Interest Entity, Primary Beneficiary      
Variable Interest Entity [Line Items]      
Total number of consolidated VIEs (in entities) | entity 12 10  
Restricted assets:      
Investments in real estate, net $ 609,125 $ 463,322  
Cash and cash equivalents 4,993 6,547  
Intangible assets, net 40,358 18,005  
Other assets 5,295 1,829  
Total assets 659,771 489,703  
VIE non-recourse liabilities:      
Mortgages payable, net 83,948 83,442  
Financing obligation, net 53,974 53,983  
Accounts payable, accrued expenses, and other liabilities 19,826 8,249  
Total liabilities $ 157,747 $ 145,674  
[1] Includes restricted assets of consolidated variable interest entities at September 30, 2026 and December 31, 2025 of $659.8 million and $489.7 million, respectively. See Note 16 — “Variable Interest Entities.”
[2] Includes non-recourse liabilities of consolidated variable interest entities at September 30, 2026 and December 31, 2025 of $157.7 million and $145.7 million, respectively. See Note 16 — “Variable Interest Entities.”