Investments in Real Estate, net (Tables)

6 Months Ended

Jun. 30, 2024

Real Estate [Abstract]

Summary of Investments in Real Estate

Investments in real estate, net consisted of the following:

	June 30, 2024		December 31, 2023
Buildings	$	2,283,584	$	2,290,367
Land and land improvements	510,417		499,936
Construction in process	40,639		—
Total	2,834,640		2,790,303
Accumulated depreciation	(115,699)		(74,471)
Investments in real estate, net	$	2,718,941	$	2,715,832

Summary of Real Estate Investments

For acquisitions not denominated in USD, the amounts have been presented in USD at the prevailing foreign exchange rate on the acquisition date:

	Six Months Ended June 30, 2024
Property Type	Acquisition Value		Number of Properties	Square Feet (in thousands)(1)
Industrial	$	54,761	22	$	5,657
Retail	10,023		1	954
	$	64,784	23	6,611

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(1)The square footage for the retail property and a portion of industrial properties relates to build-to-suit assets.

	Six Months Ended June 30, 2023
Property Type	Acquisition Value		Number of Properties	Square Feet (in thousands)
Industrial	$	248,979	4	$	3,156

The following table details the purchase price allocation for the properties acquired during the six months ended June 30, 2024 and 2023:

	Six Months Ended
	June 30, 2024		June 30, 2023
Buildings	$	13,461	$	206,568
Land and land improvements	13,178		42,411
Construction in process	29,017		—
In-place lease intangibles	4,080		—
Other lease intangibles	5,142		—
Below-market lease intangibles	(94)		—
Total Purchase Price	$	64,784	$	248,979