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REAL ESTATE ASSETS | 3 Months Ended
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Mar. 31, 2025
Real Estate [Abstract] |
REAL ESTATE ASSETS | REAL ESTATE ASSETS The components of real estate assets are summarized as follows:
| March 31, 2025 |  | December 31, 2024
Land | $ | 5,015,490 |  |  | $ | 4,994,642 |
Buildings, improvements and other intangibles | 22,554,373 |  |  | 22,336,386 |
Right of use assets - finance lease | 140,259 |  |  | 140,259 |
Intangible assets - tenant relationships | 328,413 |  |  | 326,440 |
Intangible lease rights | 27,743 |  |  | 27,743 |
| 28,066,278 |  |  | 27,825,470 |
Less: accumulated depreciation and amortization | (3,494,166) |  |  | (3,339,136) |
Net operating real estate assets | 24,572,112 |  |  | 24,486,334 |
Real estate under development/redevelopment | 111,812 |  |  | 101,293 |
Real estate assets, net | $ | 24,683,924 |  |  | $ | 24,587,627 |
Real estate assets held for sale included in real estate assets, net | $ | 28,238 |  |  | $ | 103,756 |
As of March 31, 2025, the Company had five stores classified as held for sale which are included in real estate assets, net.

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 974 -SubTopic 720 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477728/974-720-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 976 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/976/tableOfContent Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 978 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/978/tableOfContent Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 970 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/970/tableOfContent Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 972 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/972/tableOfContent Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 974 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/974/tableOfContent + Details
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