CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 450,473	$ 394,867
Adjustments to net income:
Depreciation and amortization	1,256,784	1,186,634
Amortization of share-based compensation	14,009	41,270
Non-cash revenue adjustments	(52,425)	(64,367)
Amortization of deferred financing costs	13,082	11,693
Foreign currency and unrealized derivative gain, net	(46,060)	(5,104)
Non-cash interest expense	1,606	7,409
Gain on sales of real estate	(61,103)	(41,727)
Equity in earnings of unconsolidated entities	(7,626)	(353)
Distributions on common equity from unconsolidated entities	21,689	10,551
Provisions for impairment	259,952	185,947
Deferred income taxes	309	0
Change in assets and liabilities
Accounts receivable and other assets	(57,102)	25,139
Accounts payable, accrued expenses and other liabilities	52,899	12,080
Net cash provided by operating activities	1,848,185	1,759,845
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in real estate	(2,214,524)	(892,956)
Improvements to real estate, including leasing costs	(49,176)	(51,644)
Investment in unconsolidated entities	(9,819)	(51,856)
Investment in loans	(423,157)	(377,490)
Proceeds from sales of real estate	209,414	201,904
Proceeds from note receivable	14,802	42,574
Insurance proceeds received	2,079	1,865
Net cash acquired in merger	0	93,683
Net cash used in investing activities	(2,470,381)	(1,033,920)
CASH FLOWS FROM FINANCING ACTIVITIES
Cash distributions to common stockholders	(1,439,274)	(1,312,714)
Cash distributions to preferred stockholders	0	(5,175)
Borrowings on revolving credit facilities and commercial paper programs	10,628,935	11,308,772
Payments on revolving credit facilities and commercial paper programs	(10,464,748)	(10,919,709)
Principal payment on term loan	(500,000)	(250,000)
Proceeds from notes payable issued	2,091,750	1,250,000
Principal payment on notes payable	(500,000)	(499,999)
Principal payments on mortgages payable	(43,788)	(622,357)
Proceeds from common stock offerings, net	1,247,019	543,283
Proceeds from dividend reinvestment and stock purchase plan	5,917	6,169
Distributions to noncontrolling interests	(5,976)	(4,698)
Debt issuance costs	(64,882)	(28,603)
Other items, including shares withheld upon vesting	(9,507)	(8,529)
Net cash provided by (used in) financing activities	945,446	(543,560)
Effect of exchange rate changes on cash and cash equivalents	22,980	(1,429)
Net increase in cash, cash equivalents and restricted cash	346,230	180,936
Cash, cash equivalents and restricted cash, beginning of period	495,506	292,175
Cash, cash equivalents and restricted cash, end of period	841,736	473,111
Mortgages
Adjustments to net income:
Amortization of net discounts (premiums)	137	(69)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgages payable	(43,800)
Notes Payable to Banks
Adjustments to net income:
Amortization of net discounts (premiums)	$ 1,561	$ (4,125)