v3.25.4
Investments in Unconsolidated Affiliates - Changes In Investments Balance (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Equity Method Investments and Joint Ventures [Roll Forward]      
Beginning balance [1] $ 0    
Current period investment in unconsolidated affiliates 36,491    
Equity in loss of unconsolidated affiliates [2] 40,421 $ 0 $ 0
Deferred profit in transactions with unconsolidated affiliates [3] 13,928 0  
Accrued expenses and other current liabilities 39    
Ending balance [1] $ 10,037 $ 0  
[1] Represent related party investments in Fund JVs (see Note 7—Investments in Unconsolidated Affiliates in this Annual Report on Form 10-K).
[2] Represent related party equity in loss of the Fund JVs (see Note 7—Investments in Unconsolidated Affiliates in this Annual Report on Form 10-K).
[3] Represent the excess of unrealized profit from sales to the Fund JVs over the carrying value of the related equity‑method investments (see Note 7—Investments in Unconsolidated Affiliates in this Annual Report on Form 10-K).