VARIABLE INTEREST ENTITIES - Schedule of Variable Interest Entities (Details) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Assets:
Real estate investments, net	$ 3,271,982	$ 2,226,740
Cash and cash equivalents	712,480	213,822
Accounts and other receivables	7,389	1,174
Prepaid and other assets	90,314	35,608
Total assets	5,088,920	3,437,016
Liabilities:
Accounts payable, accrued liabilities and deferred rent liabilities	103,109	56,318
Total liabilities	1,071,710	507,633
Variable Interest Entity, Primary Beneficiary
Assets:
Real estate investments, net	758,831	565,959
Cash and cash equivalents	9,630	6,506
Accounts and other receivables	26	0
Prepaid and other assets	5,859	8,317
Total assets	774,346	580,782
Liabilities:
Accounts payable, accrued liabilities and deferred rent liabilities	3,289	10,332
Total liabilities	$ 3,289	$ 10,332