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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement [Abstract]      
Revenue from tenants $ 495,286 $ 569,793 $ 445,761
Expenses:      
Property operating 51,206 64,324 44,421
Operating fees to related parties 0 0 28,283
Impairment charges 157,532 90,310 68,684
Merger, transaction and other costs 6,662 6,022 54,417
Settlement costs 0 0 29,727
General and administrative 52,753 52,358 37,202
Equity-based compensation 12,514 8,931 17,297
Depreciation and amortization 191,189 216,820 179,351
Goodwill impairment 7,134 0 0
Total expenses 478,990 438,765 459,382
Operating income (loss) before gain (loss) on dispositions of real estate investments 16,296 131,028 (13,621)
Gain (loss) on dispositions of real estate investments 94,687 57,091 (1,672)
Operating income (loss) 110,983 188,119 (15,293)
Other income (expense):      
Interest expense (194,718) (255,685) (158,347)
Loss on extinguishment and modification of debt (11,222) (15,877) (1,221)
(Loss) gain on derivative instruments (10,676) 4,203 (3,691)
Unrealized (losses) gains on undesignated foreign currency advances and other hedge ineffectiveness (12,644) 3,249 0
Other income 4,331 1,075 1,809
Total other expense, net (224,929) (263,035) (161,450)
Net loss before income tax (113,946) (74,916) (176,743)
Income tax expense (21,801) (4,445) (14,475)
Loss from continuing operations (135,747) (79,361) (191,218)
Loss from discontinued operations (89,710) (52,211) (20,692)
Net loss (225,457) (131,572) (211,910)
Preferred stock dividends (43,743) (43,744) (27,438)
Net loss attributable to common stockholders $ (269,200) $ (175,316) $ (239,348)
Basic and Diluted Loss Per Common Share:      
Net loss per share from continuing operations, basic (in dollars per share) $ (0.81) $ (0.54) $ (1.57)
Net loss per share from continuing operations, diluted (in dollars per share) (0.81) (0.54) (1.57)
Net loss per share from discontinued operations, basic (in dollars per share) (0.40) (0.22) (0.14)
Net loss per share from discontinued operations, diluted (in dollars per share) (0.40) (0.22) (0.14)
Net loss per share attributable to common stockholders — Basic (in dollars per share) (1.21) (0.76) (1.71)
Net income loss per share attributable to common stockholders — Diluted (in dollars per share) $ (1.21) $ (0.76) $ (1.71)
Weighted Average Common Shares Outstanding:      
Basic (in shares) 223,255,282 230,440,385 142,584,332
Diluted (in shares) 223,255,282 230,440,385 142,584,332