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Segment Information (Details)
$ in Thousands
3 Months Ended
Mar. 31, 2026
USD ($)
segment
Mar. 31, 2025
USD ($)
Segment information    
Number of operating segments | segment 3  
Number of reportable segments | segment 3  
Total revenues $ 253,080 $ 239,846
Expenses    
SUMMIT Operator expenses 24,942 21,764
Operating Expenses 61,457 56,062
Real estate taxes 41,912 37,217
Operating lease rent 6,944 6,106
Real Estate segment Net operating income 145,270 136,016
Equity in net (loss) income from unconsolidated joint ventures (20,780) 1,170
Income from debt fund investments, net 2,478 0
Loan loss and other investment reserves, net of recoveries 0 25,039
Depreciation and amortization (69,751) (64,498)
Interest expense, net of interest income (50,909) (45,681)
Interest expense on senior obligations of consolidated securitization vehicles (14,649) (13,972)
Non-operating net loss from unconsolidated joint ventures (69,556) (52,152)
Marketing, general and administrative expense (22,786) (21,724)
Transaction related costs (284) (295)
Depreciable real estate reserves (35,160) (8,546)
Depreciable real estate reserves in unconsolidated joint venture   (1,780)
Gains (loss) on sale of real estate, net 16,636 (482)
Purchase price and other fair value adjustments 4,183 (9,611)
Equity in net loss on sale of interest in unconsolidated joint venture/real estate (814) 0
Depreciation and amortization (68,787) (63,738)
Amortization of deferred financing costs (2,802) (1,687)
Interest expense, net of interest income (49,389) (38,636)
Net loss (77,398) (21,545)
Operating Segments    
Expenses    
Net loss 6,091 41,090
Operating Segments | Real Estate Segment    
Segment information    
Total revenues 211,943 185,217
Expenses    
SUMMIT Operator expenses 0 0
SUMMIT Operator tax expense 0 0
Operating Expenses 61,457 56,062
Real estate taxes 41,912 37,217
Operating lease rent 6,944 6,106
Net operating income from unconsolidated joint ventures 43,640 50,184
Real Estate segment Net operating income 145,270 136,016
Operating Segments | SUMMIT Segment    
Segment information    
Total revenues 24,142 22,534
Expenses    
SUMMIT Operator expenses 24,942 21,764
SUMMIT Operator tax expense 585 (45)
Operating Expenses 0 0
Real estate taxes 0 0
Operating lease rent 6,944 0
Equity in net (loss) income from unconsolidated joint ventures 0 0
Income from debt fund investments, net 0  
Loan loss and other investment reserves, net of recoveries   0
Depreciation and amortization (964) (760)
Interest expense, net of interest income 0 0
Interest expense on senior obligations of consolidated securitization vehicles 0 0
Net loss (2,349) 55
Operating Segments | DPE Segment    
Segment information    
Total revenues 16,995 32,095
Expenses    
SUMMIT Operator expenses 0 0
SUMMIT Operator tax expense 0 0
Operating Expenses 0 0
Real estate taxes 0 0
Operating lease rent 0 0
Equity in net (loss) income from unconsolidated joint ventures 5,136 4,918
Income from debt fund investments, net 2,478  
Loan loss and other investment reserves, net of recoveries   25,039
Depreciation and amortization 0 0
Interest expense, net of interest income (1,520) (7,045)
Interest expense on senior obligations of consolidated securitization vehicles (14,649) (13,972)
Net loss $ 8,440 $ 41,035