Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

Schedule of Identified Intangible Assets and Intangible Liabilities

The following summarizes our identified intangible assets (acquired above-market leases and in-place leases) and intangible liabilities (acquired below-market leases) as of March 31, 2026 and December 31, 2025 (in thousands):

	March 31, 2026		December 31, 2025
Identified intangible assets (included in other assets):
Gross amount	$	459,362	$	365,454
Accumulated amortization	(237,276)		(224,360)
Total, net	$	222,086	$	141,094
Identified intangible liabilities (included in deferred revenue):
Gross amount	$	259,386	$	242,136
Accumulated amortization	(209,890)		(207,798)
Total, net	$	49,496	$	34,338

Schedule of Marketable Securities

As of March 31, 2026 and December 31, 2025, we held the following commercial mortgage-backed securities ("CMBS") (in thousands):

	March 31, 2026		December 31, 2025
Commercial mortgage-backed securities - available-for-sale	$	25,330	$	23,666
Commercial mortgage-backed securities - held-to-maturity	$	—	$	—
Total investment in marketable securities	$	25,330	$	23,666

Schedule of Real Estate CMBS Securitization Trusts

As of March 31, 2026 and December 31, 2025, we consolidated the following CMBS securitization trusts (in thousands):

	March 31, 2026				December 31, 2025				Maturity (2)
Type	Fair Value		Principal Value		Fair Value		Principal Value
Real estate loans held by consolidated securitization vehicles (1)	$	1,027,164	$	1,119,044	$	1,023,877	$	1,119,044	2023 - 2027
Senior obligations of consolidated securitization vehicles	1,027,164		1,119,044		1,023,877		1,119,044		2023 - 2027
Real estate loans held by consolidated securitization vehicles in excess of senior obligations of consolidated securitization vehicles	$	—	$	—	$	—	$	—

(1)Excludes real estate loans held by the Fund.

(2)The Company is in discussions with the respective borrowers on the resolution of the past maturities.

Schedule of Properties Contributed of Annualized Cash Rent

For the three months ended March 31, 2026, the following properties contributed more than 5.0% of our annualized cash rent from office properties, including our share of annualized cash rent from joint venture office properties:

Property	Three months ended March 31, 2026
One Vanderbilt Avenue	12.0%
11 Madison Avenue	8.1%
245 Park Avenue	7.0%
420 Lexington Avenue	6.7%
1515 Broadway	5.8%