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SUPPLEMENTAL CASH FLOW INFORMATION
 12 Months Ended
Dec. 31, 2025
Cash and Cash Equivalents [Abstract]  
SUPPLEMENTAL CASH FLOW INFORMATION SUPPLEMENTAL CASH FLOW INFORMATION
Supplemental cash flow information and disclosure of non-cash investing and financing activities is as follows:
For the Year Ended December 31,
(in thousands)202520242023
Supplemental disclosure of cash activities:
Interest paid related to consolidated indebtedness$132,449 $99,434 $78,260 
Interest paid related to DST Program81,339 62,618 55,586 
Interest paid related to secured financings2,602 — — 
Cash paid for income taxes15,020 8,225 — 
Supplemental disclosure of non-cash investing and financing activities:
Distributions reinvested in common stock31,596 32,112 32,618 
Increase in distribution fees payable to affiliates3,052 3,266 5,737 
Increase in DST Program Loans through sale of DST Interests99,780 63,332 51,360 
Issuances of OP Units for DST Interests220,738 639,102 228,301 
Changes in assets, liabilities and noncontrolling interests from consolidation of joint venture partnership:
Net investment in real estate properties— 75,506 — 
Other assets— 1,052 — 
Accounts payable and accrued expenses— (550)— 
Debt, net— (51,471)— 
Other liabilities— (297)— 
Noncontrolling interests— (4,033)— 
Restricted Cash
Restricted cash consists of lender, insurance, property, and debt-related investment escrow accounts, utility and financing deposits, as well as investor funds received related to pending DST Interest sales. The following table presents the components of the beginning of period and end of period cash, cash equivalents and restricted cash reported within the consolidated statements of cash flows:
For the Year Ended December 31,
(in thousands)202520242023
Beginning of period:
Cash and cash equivalents$19,554 $15,052 $13,336 
Restricted cash7,865 4,614 3,850 
Cash, cash equivalents and restricted cash$27,419 $19,666 $17,186 
End of period:
Cash and cash equivalents$40,059 $19,554 $15,052 
Restricted cash5,693 7,865 4,614 
Cash, cash equivalents and restricted cash$45,752 $27,419 $19,666