CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Assets:
Real estate investments, net	$ 3,256,024	$ 2,226,740
Financing receivable, at fair value (including accrued interest of $1,607 as of June 30, 2025 and $281000 as of December 31, 2024)	97,330	96,004
Other real estate related investments (including accrued interest of $4,980 as of June 30, 2025 and $4,725 as of December 31, 2024)	840,900	795,203
Assets held for sale, net	55,166	57,261
Cash and cash equivalents	306,051	213,822
Accounts and other receivables	2,687	1,174
Prepaid expenses and other assets, net	88,415	35,608
Deferred financing costs, net	9,958	11,204
Total assets	4,656,531	3,437,016
Liabilities and Equity:
Senior unsecured term loan, net	496,019	0
Secured revolving credit facilities	158,985	0
Accounts payable, accrued liabilities and deferred rent liabilities	109,073	56,318
Dividends payable	67,101	54,388
Total liabilities	1,331,554	507,633
Commitments and contingencies (Note 14)
Redeemable noncontrolling interests	20,934	18,243
Equity:
Preferred stock, $0.01 par value; 100,000,000 shares authorized, no shares issued and outstanding as of June 30, 2025 and December 31, 2024	0	0
Common stock, $0.01 par value; 500,000,000 shares authorized, 199,746,343 and 186,993,010 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively	1,997	1,870
Additional paid-in capital	3,807,882	3,439,117
Cumulative distributions in excess of earnings	(528,376)	(532,570)
Accumulated other comprehensive income	19,029	0
Total stockholders’ equity	3,300,532	2,908,417
Noncontrolling interests	3,511	2,723
Total equity	3,304,043	2,911,140
Total liabilities and equity	4,656,531	3,437,016
Unsecured Debt
Liabilities and Equity:
Secured notes payable	397,371	396,927
Senior secured loan notes
Liabilities and Equity:
Secured notes payable	$ 103,005	$ 0