CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
Cash Flows from Operating Activities:
Net loss	$ (247,152)	$ (168,358)
Adjustments to reconcile net loss to net cash used in operating activities:
Impairment charges on real estate and related intangibles	128,776	76,090
Impairment of goodwill	949	0
Loss from unconsolidated entities, net	22,824	26,531
Deferred rent	1,158	(906)
Provision for credit loss	1,780	1,936
Depreciation and amortization	27,742	31,405
(Gain) loss on real estate equity securities, net	(1,604)	7,905
Loss on sale of real estate, net	6,392	624
Loss on extinguishment of debt, net	1,045	0
Amortization of deferred financing costs and debt discount and premium, net	5,403	7,279
Foreign currency transaction loss (gain), net	30,063	(6,724)
Changes in assets and liabilities:
Rents and other receivables, net	(293)	(1,224)
Prepaid expenses and other assets	659	(2,007)
Accounts payable and accrued liabilities	(2,446)	(2,623)
Net cash used in operating activities	(23,297)	(20,668)
Cash Flows from Investing Activities:
Proceed from sales of real estate, net	34,035	87,411
Improvements to real estate	(9,157)	(22,039)
Advances to affiliate	(2,317)	0
Payments on development obligations	(3,012)	(7,333)
Distribution of capital from an unconsolidated entity	757	1,497
Purchase of interest rate caps	0	(1,447)
Proceeds from interest rate caps	0	2,439
Contributions to an unconsolidated entity	0	(63,376)
Payments on foreign currency derivatives, net	0	(478)
Proceeds from the sale of real estate equity securities	0	16,379
Net cash provided by investing activities	20,306	13,053
Cash Flows from Financing Activities:
Advances from affiliate loans	10,000	0
Principal payments on notes and bonds payable	(109,260)	(273,173)
Noncontrolling interest contributions	35	493
Noncontrolling interest distributions	(245)	(2,608)
Proceeds from notes and bonds payable	80,000	179,787
Payments of deferred financing costs	(3,699)	(6,454)
Prepayment penalties on extinguishment of debt	(1,473)	0
Redemptions of common stock	0	(2,882)
Net cash used in financing activities	(24,642)	(104,837)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	357	1,570
Net decrease in cash, cash equivalents and restricted cash	(27,276)	(110,882)
Cash, cash equivalents and restricted cash, beginning of period	98,376	155,209
Cash, cash equivalents and restricted cash, end of period	71,100	44,327
Supplemental Disclosure of Cash Flow Information:
Interest paid, net of capitalized interest of $1,552 and $3,474 for the nine months ended September 30, 2025 and 2024, respectively	46,762	49,136
Supplemental Disclosure of Significant Noncash Transaction:
Accrued development obligations	8,487	3,880
Related Party
Changes in assets and liabilities:
Other liabilities	2,447	3,987
Nonrelated Party
Changes in assets and liabilities:
Other liabilities	$ (1,040)	$ 5,417