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Other Investments | 9 Months Ended
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Sep. 30, 2025
Equity Method Investments and Joint Ventures [Abstract] |
Other Investments | 6. Other Investments The Company has provided capital to owners and developers of real estate properties through its Preferred Equity program, which is included in Other investments on the Company’s Condensed Consolidated Balance Sheets. In addition, the Company has invested capital in certain structured investments that are accounted for on the equity method of accounting. As of September 30, 2025 and December 31, 2024, the Company’s Other investmen ts were $109.3 million and $107.3 millio n, respectively, of which the Company’s net investments under the Preferred Equity program were $70.3 mi llion and $70.1 million as of September 30, 2025 and December 31, 2024, respectively. During the nine months ended September 30, 2024, the Company converted its $50.2 million preferred equity investment into mezzanine loan financing for a property in San Antonio, TX. In addition, the Company acquired the outstanding senior mortgage loan of $146.2 million encumbering the property.

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