CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Real estate held for investment, at cost:
Land	$ 18,047,444	$ 17,320,520
Buildings and improvements	42,694,467	40,974,535
Total real estate held for investment, at cost	60,741,911	58,295,055
Less accumulated depreciation and amortization	(8,143,997)	(7,381,083)
Real estate held for investment, net	52,597,914	50,913,972
Real estate and lease intangibles held for sale, net	117,196	94,979
Cash and cash equivalents	800,447	444,962
Accounts receivable, net	962,052	877,668
Lease intangible assets, net	6,034,146	6,322,992
Goodwill	4,932,199	4,932,199
Investment in unconsolidated entities	1,225,738	1,229,699
Other assets, net	4,754,381	4,018,568
Total assets	71,424,073	68,835,039
LIABILITIES AND EQUITY
Distributions payable	248,345	238,045
Accounts payable and accrued expenses	954,079	759,416
Lease intangible liabilities, net	1,580,991	1,635,770
Other liabilities	925,292	923,128
Revolving credit facilities and commercial paper	1,472,185	1,130,201
Term loans, net	1,955,547	2,358,417
Mortgages payable, net	38,427	80,784
Notes payable, net	24,885,872	22,657,592
Total liabilities	32,060,738	29,783,353
Commitments and contingencies (Note 20)
Stockholders’ equity:
Common stock and paid in capital, par value $0.01 per share, 1,300,000 shares authorized, 914,285 and 891,511 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively	48,708,721	47,451,068
Distributions in excess of net income	(9,651,395)	(8,648,559)
Accumulated other comprehensive income	95,780	38,229
Total stockholders’ equity	39,153,106	38,840,738
Noncontrolling interests	210,229	210,948
Total equity	39,363,335	39,051,686
Total liabilities and equity	$ 71,424,073	$ 68,835,039