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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value for Interest Rate Options and swaps
The following table summarizes investments measured at fair value on a recurring basis, which are presented in other assets, net, and accrued liabilities and other in our consolidated balance sheets (in thousands).
As of December 31, 2025As of December 31, 2024
Total Fair ValueLevel 1Level 2Level 3Total Fair ValueLevel 1Level 2Level 3
Interest rate swaps - pay-fixed, receive floating$(4,519)$— $(4,519)$— $66 $— $66 $— 
Interest rate caps - net (1)$42 $— $42 $— $5,262 $— $5,262 $— 
(1)The fair value of interest rate caps, net, is inclusive of $57.0 thousand related to interest rate caps, offset partially by $15.0 thousand related to sold interest rate caps.
Schedule of Carrying Value and Fair Value of Non-recourse Property Debt
We classify the fair value of our fixed-rate non-recourse property debt, seller financing notes receivable, and preferred equity investment within Level 2 of the GAAP fair value hierarchy, as summarized in the following table (in thousands):
As of December 31, 2025As of December 31, 2024
Carrying ValueFair ValueCarrying ValueFair Value
Fixed-rate non-recourse property debt$1,683,772 $1,613,431 $2,144,797 $1,963,083 
Seller financing note receivable, net$34,309 $35,973 $33,151 $32,999 
Preferred equity investment$25,052 $27,076 $23,872 $25,513