v3.25.4
Fair value measurements - Schedule of Fair Value, by Balance Sheet Grouping (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Derivative assets $ 12,247 $ 81,770
Liabilities    
Derivative liabilities 72,727 15,440
Carrying value    
Assets    
Cash and cash equivalents 1,379,180 1,209,226
Restricted cash 100,564 192,356
Loans receivable 513,689 595,640
Notes receivable 86,846 401,989
Derivative assets 12,247 81,770
Investments, at fair value 49,218 75,496
Assets 2,141,744 2,556,477
Liabilities    
Debt 43,806,304 45,537,495
Derivative liabilities 72,727 15,440
Liabilities 43,879,031 45,552,935
Fair value    
Assets    
Cash and cash equivalents 1,379,180 1,209,226
Restricted cash 100,564 192,356
Loans receivable 544,440 625,191
Notes receivable 79,637 401,989
Derivative assets 12,247 81,770
Investments, at fair value 49,218 75,496
Assets 2,165,286 2,586,028
Liabilities    
Debt 43,045,384 43,770,740
Derivative liabilities 72,727 15,440
Liabilities 43,118,111 43,786,180
Fair value | Level 1    
Assets    
Cash and cash equivalents 1,379,180 1,209,226
Restricted cash 100,564 192,356
Loans receivable 0 0
Notes receivable 0 0
Derivative assets 0 0
Investments, at fair value 12,996 75,496
Assets 1,492,740 1,477,078
Liabilities    
Debt 0 0
Derivative liabilities 0 0
Liabilities 0 0
Fair value | Level 2    
Assets    
Cash and cash equivalents 0 0
Restricted cash 0 0
Loans receivable 0 0
Notes receivable 0 0
Derivative assets 12,247 81,770
Investments, at fair value 0 0
Assets 12,247 81,770
Liabilities    
Debt 43,045,384 43,770,740
Derivative liabilities 72,727 15,440
Liabilities 43,118,111 43,786,180
Fair value | Level 3    
Assets    
Cash and cash equivalents 0 0
Restricted cash 0 0
Loans receivable 544,440 625,191
Notes receivable 79,637 401,989
Derivative assets 0 0
Investments, at fair value 36,222 0
Assets 660,299 1,027,180
Liabilities    
Debt 0 0
Derivative liabilities 0 0
Liabilities $ 0 $ 0