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Investments in Unconsolidated Real Estate Affiliates
 6 Months Ended
Jun. 30, 2026
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Unconsolidated Real Estate Affiliates Investments in Unconsolidated Real Estate Affiliates
The Company owns interests in unconsolidated real estate investments with third parties which are primarily accounted for under the FVO.
The following table details the Company’s investments in unconsolidated real estate affiliates:
Ownership PercentageCarrying Amount of Investment
InvestmentNumber of InvestmentsNumber of PropertiesJune 30, 2026December 31, 2025June 30, 2026December 31, 2025
Unconsolidated real estate affiliates accounted for under the equity method
Net lease1249.1%49.1%$5,068 $5,163 
Total unconsolidated real estate affiliates accounted for under the equity method12$5,068 $5,163 
Unconsolidated real estate affiliates accounted for under the FVO
STORE (1)
13,59022.6%22.4%$2,613,175 $2,452,660 
Net lease33650.9%50.90%240,691 208,949 
Investments in real estate debt5—
51.0% - 85.0%
51.0% - 60.0%
468,886 188,973 
Net lease data centers816
2.7% - 83.5%
10.6% - 65.5%
1,078,705 951,121 
Total unconsolidated real estate affiliates accounted for under the FVO173,642$4,401,457 $3,801,703 
Total unconsolidated real estate affiliates183,644$4,406,525 $3,806,866 
(1)    The Company has determined that STORE is a significant subsidiary under SEC Regulation S-X Rule 10-01(b) as of June 30, 2026.

The following table details the Company’s income (loss) from unconsolidated entities:
Three Months EndedSix Months Ended
InvestmentJune 30, 2026June 30, 2025June 30, 2026June 30, 2025
Unconsolidated real estate affiliates accounted for under the equity method
Net lease$48 $(25)$91 $(95)
Total unconsolidated real estate affiliates accounted for under the equity method$48 $(25)$91 $(95)
Unconsolidated real estate affiliates accounted for under the FVO
STORE$64,691 $51,631 $201,297 $141,002 
Net lease12,958 11,328 30,787 32,160 
Investments in real estate debt12,491 — 20,616 — 
Net lease data centers(49,563)13,143 (7,315)12,397 
Total unconsolidated real estate affiliates accounted for under the FVO$40,577 $76,102 $245,385 $185,559 
Total unconsolidated real estate affiliates$40,625 $76,077 $245,476 $185,464 
The following table provides summarized income statement information of our significant unconsolidated real estate affiliates:
Three Months EndedSix Months Ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Total revenue$351,866 $308,668 $693,791 $612,552 
Net income$101,636 $29,072 $174,058 $81,746