CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 1,069,783	$ 867,341	$ 876,914
Adjustments to net income:
Depreciation and amortization	2,524,200	2,395,644	1,895,177
Amortization of share-based compensation	30,770	57,493	26,227
Non-cash revenue adjustments	(121,989)	(116,017)	(62,029)
Amortization of deferred financing costs	29,652	23,939	26,670
Foreign currency and unrealized derivative loss (gain), net	54,947	(19,394)	37,776
Non-cash interest expense (income)	1,646	11,505	(7,189)
Gain on sales of real estate	(177,640)	(117,275)	(25,667)
Equity in earnings of unconsolidated entities	(13,330)	(7,793)	(2,546)
Distributions on common equity from unconsolidated entities	39,860	21,038	5,807
Provisions for impairment	471,335	425,833	87,082
Deferred income taxes	603	3,552	0
Change in assets and liabilities
Accounts receivable and other assets	(115,792)	28,082	(111,286)
Accounts payable, accrued expenses and other liabilities	193,640	2,607	285,293
Net cash provided by operating activities	3,994,754	3,573,276	2,958,769
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in real estate	(4,647,873)	(3,262,437)	(8,053,595)
Improvements to real estate, including leasing costs	(131,800)	(121,411)	(68,692)
Investment in unconsolidated entities	(52,265)	(70,381)	(1,179,306)
Investment in loans and preferred equity	(1,613,276)	(631,650)	(201,621)
Proceeds from sales of real estate	744,014	589,450	117,354
Return of investment from unconsolidated entities	0	0	3,927
Proceeds from note receivable	31,390	57,300	0
Insurance proceeds received	3,487	2,788	27,279
Non-refundable escrow deposits	3,150
Non-refundable escrow deposits		(225)	(200)
Net cash acquired in merger	0	93,683	0
Net cash used in investing activities	(5,663,173)	(3,342,883)	(9,354,854)
CASH FLOWS FROM FINANCING ACTIVITIES
Cash distributions to common stockholders	(2,920,895)	(2,691,719)	(2,111,793)
Cash distributions to preferred stockholders	0	(7,763)	0
Borrowings on revolving credit facilities and commercial paper programs	20,280,426	36,887,003	77,338,040
Payments on revolving credit facilities and commercial paper programs	(19,557,427)	(36,528,598)	(79,398,193)
Proceeds from term loan	406,999	0	1,029,383
Principal payment on term loans	(1,139,489)	(250,000)	0
Proceeds from notes payable issued	2,891,750	2,657,925	4,239,745
Principal payment on notes payable	(1,049,997)	(849,999)	0
Principal payments on mortgages payable	(44,634)	(740,505)	(22,015)
Proceeds from common stock offerings, net	2,364,144	1,742,810	5,439,462
Proceeds from dividend reinvestment and stock purchase plan	12,002	11,812	11,519
Redemption of preferred stock	0	(172,510)	0
Distributions to noncontrolling interests	(12,024)	(10,143)	(7,725)
Contributions from noncontrolling interests	488,455	0	0
Net receipts on derivative settlements	0	0	7,853
Debt issuance costs	(88,365)	(60,615)	(81,898)
Other financing activities, net	46,850	(8,856)	(7,022)
Net cash provided by (used in) financing activities	1,677,795	(21,158)	6,437,356
Effect of exchange rate changes on cash and cash equivalents	15,874	(5,904)	24,023
Net increase in cash, cash equivalents and restricted cash	25,250	203,331	65,294
Cash, cash equivalents and restricted cash, beginning of period	495,506	292,175	226,881
Cash, cash equivalents and restricted cash, end of period	520,756	495,506	292,175
Mortgages Payable
Adjustments to net income:
Amortization of net discounts (premiums)	287	30	(12,803)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgages payable	(44,600)
Notes Payable
Adjustments to net income:
Amortization of net discounts (premiums)	$ 6,782	$ (3,309)	$ (60,657)