Summary of Significant Accounting Policies and Estimates - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Level 3 Inputs (Details) $ in Thousands	6 Months Ended
Jun. 30, 2026 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 4,654,058
Purchases	874,905
Sales	(803,902)
Distributions received	(201,715)
Interest income	(1,245)
DST Program proceeds	0
Gain on fair value of investments in real estate debt	635
Income from unconsolidated real estate affiliates measured at fair value	245,385
Ending balance	4,768,121
DST Financing Obligation
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	350,125
Purchases	0
Sales	0
Distributions received	0
Interest income	0
DST Program proceeds	360,903
Net loss on fair value of DST financing obligation	3,757
Ending balance	714,785
Investments in real estate debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	852,355
Purchases	318,821
Sales	(803,902)
Distributions received	0
Interest income	(1,245)
DST Program proceeds	0
Gain on fair value of investments in real estate debt	635
Income from unconsolidated real estate affiliates measured at fair value	0
Ending balance	366,664
Investments in unconsolidated real estate affiliates
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	3,801,703
Purchases	556,084
Sales	0
Distributions received	(201,715)
Interest income	0
DST Program proceeds	0
Gain on fair value of investments in real estate debt	0
Income from unconsolidated real estate affiliates measured at fair value	245,385
Ending balance	$ 4,401,457

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