Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Real estate properties
Land	$ 1,060,254	$ 1,143,468
Buildings and improvements	8,514,165	9,707,066
Lease intangibles	455,254	664,867
Personal property	7,056	9,909
Investment in financing receivables, net	123,249	123,671
Financing lease right-of-use assets	75,083	77,343
Construction in progress	0	31,978
Land held for development	57,535	52,408
Total real estate investments	10,292,596	11,810,710
Less accumulated depreciation	(2,397,795)	(2,483,656)
Real estate assets held for sale, net 1	7,894,801	9,327,054
Cash and cash equivalents	26,172	68,916
Assets held for sale, net	143,580	12,897
Operating lease right-of-use assets	204,906	261,438
Investments in unconsolidated joint ventures	453,607	473,122
Other assets, net	487,795	507,496
Total assets	9,210,861	10,650,923
Liabilities
Notes and bonds payable	3,911,423	4,662,771
Accounts payable and accrued liabilities	211,071	222,510
Liabilities of properties held for sale	15,160	1,283
Operating lease liabilities	162,922	224,499
Financing lease liabilities	73,130	72,346
Other liabilities	160,530	161,640
Total liabilities	4,534,236	5,345,049
Commitments and contingencies (See Footnote 14)
Redeemable non-controlling interests	3,252	4,778
Stockholders' equity
Preferred stock, $0.01 par value; 200,000 shares authorized; none issued and outstanding	0	0
Common stock, $0.01 par value; 1,000,000 shares authorized; 351,603 and 350,532 shares issued and outstanding at December 31, 2025 and 2024, respectively.	3,516	3,505
Additional paid-in capital	9,137,257	9,118,229
Accumulated other comprehensive loss	(5,174)	(1,168)
Cumulative net income attributable to common stockholders	128,238	374,309
Cumulative dividends	(4,646,944)	(4,260,014)
Total stockholders’ equity	4,616,893	5,234,861
Non-controlling interest	56,480	66,235
Total equity	4,673,373	5,301,096
Total liabilities, redeemable non-controlling interests, and stockholders' equity	$ 9,210,861	$ 10,650,923