CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Real estate held for investment, at cost:
Land	$ 18,628,769	$ 18,368,029
Buildings and improvements	44,464,843	43,824,410
Total real estate held for investment, at cost	63,093,612	62,192,439
Less accumulated depreciation and amortization	(9,092,291)	(8,778,536)
Real estate held for investment, net	54,001,321	53,413,903
Real estate and lease intangibles held for sale, net	139,939	91,784
Cash and cash equivalents	373,543	434,842
Accounts receivable, net	1,117,143	1,053,487
Lease intangible assets, net	5,648,504	5,717,241
Goodwill	4,932,199	4,932,199
Investment in unconsolidated entities	1,320,826	1,256,456
Other assets, net	7,021,229	5,895,700
Total assets	74,554,704	72,795,612
LIABILITIES AND EQUITY
Distributions payable	254,736	255,171
Accounts payable and accrued expenses	953,204	1,060,969
Lease intangible liabilities, net	1,478,512	1,493,958
Other liabilities	1,003,644	1,066,809
Revolving credit facilities and commercial paper	2,309,059	2,023,414
Term loans, net	2,370,548	1,701,615
Mortgages payable, net	37,420	37,761
Notes payable, net	24,911,912	25,031,947
Total liabilities	33,319,035	32,671,644
Commitments and contingencies (Note 18)
Stockholders’ equity:
Common stock and paid in capital, par value $0.01 per share, 1,300,000 shares authorized, 932,474 and 933,975 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively	49,984,064	49,861,660
Distributions in excess of net income	(10,973,813)	(10,527,984)
Accumulated other comprehensive income	137,234	105,019
Total stockholders’ equity	39,147,485	39,438,695
Noncontrolling interests	2,088,184	685,273
Total equity	41,235,669	40,123,968
Total liabilities and equity	$ 74,554,704	$ 72,795,612