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Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Assets    
Debt and preferred equity investments, discount and deferred origination fees $ 413 $ 1,618
Allowance for loan and lease losses, real estate 454 13,520
Deferred costs accumulated amortization 175,949 308,923
Real estate loans held by consolidated securitization vehicles 1,431,362 584,134
Liabilities    
Senior obligations of consolidated securitization vehicles $ 1,431,362 $ 567,487
Equity    
Preferred stock, par value (in dollars per share) $ 0.01  
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 160,000,000 160,000,000
Common stock, shares issued (in shares) 71,025,000 71,097,000
Common stock, shares outstanding (in shares) 71,025,000 71,097,000
Land and land interests $ 1,448,504 $ 1,357,041
Building and improvements 3,867,078 3,862,224
Building leasehold and improvements 1,415,754 1,388,476
Right-of-use assets - operating leases 875,379 865,639
Real estate investment property, accumulated depreciation 2,220,242 2,126,081
Debt fund investments, at fair value 41,356 0
Real estate loans held by consolidated securitization vehicles (includes $1,431,362 and $584,134 at fair value as of June 30, 2025 and December 31, 2024, respectively) 1,431,362 709,095
Other assets 574,620 610,911
Mortgages and other loans payable, net 2,035,822 1,944,635
Lease liabilities 107,513 106,853
Senior obligations of consolidated securitization vehicles (includes $1,431,362 and $567,487 at fair value as of June 30, 2025 and December 31, 2024, respectively) 1,431,362 590,131
Other liabilities 409,549 414,153
Service Corporation    
Equity    
Land and land interests 236,700 236,700
Building and improvements 174,400 159,100
Building leasehold and improvements 0 0
Right-of-use assets - operating leases 0 0
Real estate investment property, accumulated depreciation 8,900 4,100
Debt fund investments, at fair value 41,400 0
Real estate loans held by consolidated securitization vehicles (includes $1,431,362 and $584,134 at fair value as of June 30, 2025 and December 31, 2024, respectively) 1,431,400 709,100
Other assets 869,600 830,300
Mortgages and other loans payable, net 374,400 357,900
Accrued interest payable 1,000 1,100
Lease liabilities 0 0
Senior obligations of consolidated securitization vehicles (includes $1,431,362 and $567,487 at fair value as of June 30, 2025 and December 31, 2024, respectively) 1,431,400 590,100
Other liabilities $ 316,800 $ 324,800
Series I Preferred Stock    
Equity    
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, liquidation preference (in dollars per share) $ 25.00 $ 25.00
Preferred stock, shares issued (in shares) 9,200,000 9,200,000
Preferred stock, shares outstanding (in shares) 9,200,000 9,200,000