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Variable Interest Entities - Schedule of Variable Interest Entities (Details)
$ in Thousands
Jun. 30, 2025
USD ($)
entity
Dec. 31, 2024
USD ($)
entity
Jun. 30, 2024
USD ($)
Restricted Assets:      
Investments in real estate, net $ 681,143 $ 680,596  
Cash and cash equivalents 68,929 48,176 $ 42,778
Intangible assets, net 21,967 24,943  
Other assets 16,233 9,198  
Total assets [1] 995,243 983,079  
VIE Non-Recourse Liabilities      
Mortgages payable, net 234,117 285,266  
Financing obligation, net 53,997 53,991  
Accounts payable, accrued expenses, and other liabilities 17,132 16,058  
Total liabilities [2] $ 327,769 $ 379,275  
Variable Interest Entity, Primary Beneficiary      
Variable Interest Entity [Line Items]      
Total number of consolidated VIEs (in entities) | entity 6 3  
Restricted Assets:      
Investments in real estate, net $ 376,048 $ 155,313  
Cash and cash equivalents 5,043 2,254  
Intangible assets, net 11,304 7,025  
Other assets 2,581 1,108  
Total assets 394,976 165,700  
VIE Non-Recourse Liabilities      
Mortgages payable, net 83,671 0  
Financing obligation, net 53,987 0  
Accounts payable, accrued expenses, and other liabilities 6,510 4,147  
Total liabilities $ 144,168 $ 4,147  
[1] Includes restricted assets of consolidated variable interest entities (“VIEs”) at June 30, 2025 and December 31, 2024 of $395.0 million and $165.7 million, respectively. See Note 16 — “Variable Interest Entities.”
[2] Includes non-recourse liabilities of consolidated VIEs at June 30, 2025 and December 31, 2024 of $144.2 million and $4.1 million, respectively. See Note 16 — “Variable Interest Entities.”