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Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Operating Lease Income From Leases
The following table details the components of operating lease income from leases in which the Company is the lessor.
Year Ended December 31,
202520242023
Base rent (1)
$191,815 $165,650 $149,087 
Straight-line rental revenue, net (2)
21,419 19,398 20,958 
Variable lease payments (3)
22,317 21,650 16,913 
Amortization of below market lease intangibles
358 297 187 
Total Rental revenue$235,909 $206,995 $187,145 
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(1)Consists of fixed lease payments.
(2)Represents lease income related to the excess (deficit) of straight-line rental revenue over fixed lease payments.
(3)Consists of reimbursement of common area maintenance (“CAM”) and real estate taxes, and amortization of tenant lease inducements.
Schedule of Undiscounted Future Minimum Rents
The following table presents the undiscounted future minimum rents the Company expects to receive for its net lease properties classified as operating leases as of December 31, 2025.
Year
Future Minimum Rents (1)
2026$273,731 
2027278,321 
2028282,960 
2029286,114 
2030290,743 
Thereafter2,868,184 
Total$4,280,053 
(1)    Excludes future minimum rents related to leases with build-to-suit arrangements and other leases where the rent commencement date is based on future events and therefore not fixed as of December 31, 2025.
Schedule of Future Minimum Payments of Sales-Type Lease Receivables As of December 31, 2025, the future minimum payments of sales-type lease receivables were as follows:
Year
Future Minimum Rents
2026$36,898 
202748,229 
202849,502 
202950,757 
203052,098 
Thereafter8,524,754 
Total lease payment receivable8,762,238 
Less deferred interest income8,237,150 
Less allowance for credit losses22,515 
Total Investments in leases - Financing receivables$502,573 
Schedule of Allowance for Credit Losses on Our Real Estate Portfolio
The following table reflects the roll-forward of the allowance for credit losses on our real estate portfolio for the years ended December 31, 2025 and 2024:
Year Ended
December 31, 2025December 31, 2024
Balance, beginning of period$22,934 $16,638 
Current period change in credit allowance6,780 6,296 
Reduction in allowance resulting from dispositions(7,199)— 
Balance, end of period$22,515 $22,934 
Schedule of Amortized Cost Basis Of Our Investments By The Credit Quality Indicator
The following tables detail the amortized cost basis of our Investments in leases - Financing receivable by the credit quality indicator as of December 31, 2025 and 2024:
December 31, 2025
B2
Caa2
Total
Investments in leases - Financing receivable$115,465 $409,623 $525,088 
December 31, 2024
B2
Caa2
Total
Investments in leases - Financing receivable$342,849 $215,358 $558,207 
Schedule of Undiscounted Future Minimum Rent Payment Obligation of the Wholly-Owned Subsidiary The following table presents the undiscounted future minimum rent payment obligation of the wholly owned subsidiaries:
YearFuture Minimum Payments
2026$29,076 
202729,076 
202829,234 
202929,482 
203030,813 
Thereafter493,711 
Total$641,392