CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 320,935	$ 251,462
Adjustments to net income:
Depreciation and amortization	630,275	608,935
Amortization of share-based compensation	11,383	5,899
Non-cash revenue adjustments	(25,630)	(28,486)
Amortization of deferred financing costs	8,823	5,920
Foreign currency and unrealized derivative gain, net	(21,192)	(273)
Non-cash interest rate swaps	(474)	1,829
Gain on sales of real estate	(35,642)	(22,537)
Equity in earnings of unconsolidated entities	(2,669)	(4,357)
Distributions on common equity from unconsolidated entities	5,992	5,756
Provisions for impairment	129,268	116,589
Deferred income tax expense (benefit)	1,437	(104)
Change in assets and liabilities
Accounts receivable and other assets	(114,375)	(95,360)
Accounts payable, accrued expenses and other liabilities	(39,949)	(58,474)
Net cash provided by operating activities	874,502	787,516
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in real estate	(1,649,093)	(1,184,086)
Improvements to real estate, including leasing costs	(26,314)	(22,900)
Investment in unconsolidated entities	(67,016)	(5,283)
Investment in loans and preferred equity	(1,031,414)	(200,872)
Proceeds from sales of real estate	187,979	92,573
Proceeds from note receivable	8,713	7,022
Insurance proceeds received	466	15
Non-refundable escrow deposits	(2,185)	(100)
Net cash used in investing activities	(2,578,864)	(1,313,631)
CASH FLOWS FROM FINANCING ACTIVITIES
Cash distributions to common stockholders	(758,032)	(711,824)
Borrowings on revolving credit facilities and commercial paper programs	19,796,468	5,594,638
Payments on revolving credit facilities and commercial paper programs	(19,483,654)	(5,084,178)
Proceeds from term loan	693,900	0
Proceeds from notes payable issued	862,500	0
Principal payment on notes payable	(825,000)	0
Principal payments on mortgages payable	(430)	(39,520)
Repurchases of common stock	(101,909)	0
Proceeds from common stock offerings, net	(218)	624,795
Proceeds from dividend reinvestment and stock purchase plan	3,141	3,105
Distributions to noncontrolling interests	(10,951)	(2,999)
Contributions from noncontrolling interests, net of costs	1,570,160	0
Debt issuance costs	(22,241)	0
Other financing activities, net	(12,154)	(9,459)
Net cash provided by financing activities	1,711,580	374,558
Effect of exchange rate changes on cash and cash equivalents	(3,931)	6,737
Net increase (decrease) in cash, cash equivalents and restricted cash	3,287	(144,820)
Cash, cash equivalents and restricted cash, beginning of period	520,756	495,505
Cash, cash equivalents and restricted cash, end of period	524,043	350,685
Mortgages Payable
Adjustments to net income:
Amortization of net discounts on payables	74	65
Notes Payable
Adjustments to net income:
Amortization of net discounts on payables	$ 6,246	$ 652