CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Real estate held for investment, at cost:
Land	$ 18,906,217	$ 18,368,029
Buildings and improvements	45,672,483	43,824,410
Total real estate held for investment, at cost	64,578,700	62,192,439
Less accumulated depreciation and amortization	(9,466,261)	(8,778,536)
Real estate held for investment, net	55,112,439	53,413,903
Real estate and lease intangibles held for sale, net	153,134	91,784
Cash and cash equivalents	552,648	434,842
Accounts receivable, net	1,134,987	1,053,487
Lease intangible assets, net	5,616,706	5,717,241
Goodwill	4,932,199	4,932,199
Investment in loans and financing receivables, net	4,888,860	3,271,002
Investment in unconsolidated entities	1,348,453	1,256,456
Other assets, net	2,702,049	2,624,698
Total assets	76,441,475	72,795,612
LIABILITIES AND EQUITY
Distributions payable	259,252	255,171
Accounts payable and accrued expenses	1,119,132	1,060,969
Lease intangible liabilities, net	1,457,071	1,493,958
Other liabilities	1,020,290	1,066,809
Revolving credit facilities and commercial paper	2,762,585	2,023,414
Term loans, net	2,760,395	1,701,615
Mortgages payable, net	37,085	37,761
Notes payable, net	25,091,588	25,031,947
Total liabilities	34,507,398	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, 946,202 and 933,975 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	50,845,906	49,861,660
Distributions in excess of net income	(11,391,151)	(10,527,984)
Accumulated other comprehensive income	94,802	105,019
Total stockholders’ equity	39,549,557	39,438,695
Noncontrolling interests	2,384,520	685,273
Total equity	41,934,077	40,123,968
Total liabilities and equity	$ 76,441,475	$ 72,795,612