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Disclosure about Fair Value of Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Summary of Carrying Amounts and Estimated Fair Values of Financial Instruments
The carrying amounts and estimated fair values of our financial instruments are as follows (in thousands):
 September 30, 2024December 31, 2023
 Carrying AmountFair ValueCarrying AmountFair Value
Financial assets:
Investments in sales-type leases, net$469,260 $469,260 $— $— 
Mortgage loans receivable1,555,962 1,622,078 1,043,252 1,105,260 
Other real estate loans receivable284,491 281,644 318,335 319,905 
Cash and cash equivalents3,564,942 3,564,942 1,993,646 1,993,646 
Restricted cash219,466 219,466 82,437 82,437 
Non-real estate loans receivable247,418 247,911 330,119 312,985 
Foreign currency forward contracts, interest rate swaps and cross currency swaps15,332 15,332 37,118 37,118 
Equity warrants57,037 57,037 35,772 35,772 
Financial liabilities:
Senior unsecured notes$13,295,096 $13,670,516 $13,552,222 $13,249,247 
Secured debt2,468,527 2,466,269 2,183,327 2,144,059 
Foreign currency forward contracts, interest rate swaps and cross currency swaps86,801 86,801 96,023 96,023 
Redeemable DownREIT Unitholder interests$50,007 $50,007 $77,928 $77,928 
Summary of Items Measured at Fair Value on Recurring Basis, Assets The following summarizes items measured at fair value on a recurring basis (in thousands):
 Fair Value Measurements as of September 30, 2024
 TotalLevel 1Level 2Level 3
Equity warrants$57,037 $— $— $57,037 
Foreign currency forward contracts, interest rate swaps and cross currency swaps, net asset (liability) (1)
(71,469)— (71,469)— 
Totals $(14,432)$— $(71,469)$57,037 
(1) Please see Note 12 for additional information.
Summary of Items Measured at Fair Value on Recurring Basis, Liabilities The following summarizes items measured at fair value on a recurring basis (in thousands):
 Fair Value Measurements as of September 30, 2024
 TotalLevel 1Level 2Level 3
Equity warrants$57,037 $— $— $57,037 
Foreign currency forward contracts, interest rate swaps and cross currency swaps, net asset (liability) (1)
(71,469)— (71,469)— 
Totals $(14,432)$— $(71,469)$57,037 
(1) Please see Note 12 for additional information.
Summary of Level 3 Reconciliation
The following table summarizes the change in fair value for equity warrants using unobservable Level 3 inputs for the periods presented (in thousands):
Nine Months Ended
 September 30, 2024September 30, 2023
Beginning balance$35,772 $30,436 
Mark-to-market adjustment18,791 (5,003)
Foreign currency2,474 423 
Ending balance$57,037 $25,856