CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Real estate held for investment, at cost:
Land	$ 18,126,781	$ 17,320,520
Buildings and improvements	42,921,102	40,974,535
Total real estate held for investment, at cost	61,047,883	58,295,055
Less accumulated depreciation and amortization	(8,460,230)	(7,381,083)
Real estate held for investment, net	52,587,653	50,913,972
Real estate and lease intangibles held for sale, net	174,996	94,979
Cash and cash equivalents	417,173	444,962
Accounts receivable, net	1,006,716	877,668
Lease intangible assets, net	5,858,799	6,322,992
Goodwill	4,932,199	4,932,199
Investment in unconsolidated entities	1,234,092	1,229,699
Other assets, net	5,067,354	4,018,568
Total assets	71,278,982	68,835,039
LIABILITIES AND EQUITY
Distributions payable	250,611	238,045
Accounts payable and accrued expenses	930,260	759,416
Lease intangible liabilities, net	1,528,256	1,635,770
Other liabilities	937,877	923,128
Revolving credit facilities and commercial paper	1,915,492	1,130,201
Term loans, net	1,636,711	2,358,417
Mortgages payable, net	38,091	80,784
Notes payable, net	24,781,463	22,657,592
Total liabilities	32,018,761	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, 919,893 and 891,511 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively	49,034,023	47,451,068
Distributions in excess of net income	(10,075,749)	(8,648,559)
Accumulated other comprehensive income	92,323	38,229
Total stockholders’ equity	39,050,597	38,840,738
Noncontrolling interests	209,624	210,948
Total equity	39,260,221	39,051,686
Total liabilities and equity	$ 71,278,982	$ 68,835,039