Noncontrolling Interests (Tables)

3 Months Ended

Mar. 31, 2026

Noncontrolling Interest [Abstract]

Schedule of the Change in the Carrying Value of all Noncontrolling Interests

The following table represents the change in the carrying value of all noncontrolling interests through March 31, 2026 (in thousands):

	U.S. Core Plus Fund		Apollo		Realty Income, L.P. units (1)		Other Noncontrolling Interests		Total
Carrying value as of December 31, 2025	$	477,081	$	—	$	165,663	$	42,529	$	685,273
Contributions	642,732		1,000,000		—		4,642		1,647,374
Distributions	(7,882)		—		(2,237)		(833)		(10,952)
Allocation of net income	7,935		—		1,412		(178)		9,169
Reallocation of equity	(20,936)		(221,744)		—		—		(242,680)
Carrying value as of March 31, 2026	$	1,098,930	$	778,256	$	164,838	$	46,160	$	2,088,184

(1) 2,681,808 units were outstanding as of both March 31, 2026 and December 31, 2025.