CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets:
Real estate investments, net	$ 2,226,740	$ 1,567,119
Financing receivable, at fair value (including accrued interest of $281 as of December 31, 2024)	96,004	0
Other real estate related investments (including accrued interest of $4,725 and $1,727 as of December 31, 2024 and 2023, respectively)	795,203	180,368
Assets held for sale, net	57,261	15,011
Cash and cash equivalents	213,822	294,448
Accounts and other receivables	1,174	395
Prepaid expenses and other assets, net	35,608	23,337
Deferred financing costs, net	11,204	4,160
Total assets	3,437,016	2,084,838
Liabilities and Equity:
Senior unsecured notes payable, net	396,927	396,039
Senior unsecured term loan, net	0	199,559
Accounts payable, accrued liabilities and deferred rent liabilities	56,318	33,992
Dividends payable	54,388	36,531
Total liabilities	507,633	666,121
Commitments and contingencies (Note 13)
Redeemable noncontrolling interest	18,243	0
Equity:
Preferred stock, $0.01 par value; 100,000,000 shares authorized, no shares issued and outstanding as of December 31, 2024 and 2023	0	0
Common stock, $0.01 par value; 500,000,000 shares authorized, 186,993,010 and 129,992,796 shares issued and outstanding as of December 31, 2024 and 2023, respectively	1,870	1,300
Additional paid-in capital	3,439,117	1,883,147
Cumulative distributions in excess of earnings	(532,570)	(467,628)
Total stockholders' equity	2,908,417	1,416,819
Noncontrolling interests	2,723	1,898
Total equity	2,911,140	1,418,717
Total liabilities and equity	$ 3,437,016	$ 2,084,838