Accounts payable, accrued expenses, and other liabilities (Tables)

12 Months Ended

Dec. 31, 2025

Payables and Accruals [Abstract]

Summary of components of accounts payable, accrued expenses, and tenant security deposits

The following table summarizes the components of accounts payable, accrued expenses, and other liabilities as of December

31, 2025 and 2024 (in thousands):

	December 31,
	2025	2024
Accounts payable and accrued expenses	$510,580	$534,803
Accrued construction	314,836	500,890
Acquired below-market leases	133,033	180,407
Conditional asset retirement obligations	34,342	53,968
Deferred rent liabilities	14,659	11,461
Operating lease liability	360,543	507,127
Unearned rent and tenant security deposits	876,252	691,873
Other liabilities	152,828	173,822
Total	$2,397,073	$2,654,351