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FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2025

Financial Instruments [Abstract]

Schedule of Financial Instruments

At September 30, 2025 and December 31, 2024, the net carrying amounts and fair values of our other financial instruments were as follows:


		September 30, 2025						December 31, 2024
		Carrying			Fair			Carrying			Fair
		Amount			Value			Amount			Value

		(in thousands)
Assets:
Investments in direct financing leases – net		$	—		$	—		$	9,453		$	9,453
Real estate loans receivable – net			1,415,229			1,436,119			1,428,298			1,447,262
Non-real estate loans receivable – net			339,683			340,547			332,274			340,025
Total		$	1,754,912		$	1,776,666		$	1,770,025		$	1,796,740
Liabilities:
Revolving Credit Facility		$	—		$	—		$	—		$	—
2026 Mortgage Loan			253,089			255,308			243,310			247,063
2026 Term Loan			427,922			428,500			427,044			428,500
OP Term Loan			—			—			49,966			50,000
2028 Term Loan			—			—			—			—
4.50% notes due 2025 – net			—			—			399,968			399,856
5.25% notes due 2026 – net			599,787			600,156			599,259			600,714
4.50% notes due 2027 – net			697,865			701,946			696,766			691,040
4.75% notes due 2028 – net			547,689			554,570			546,933			542,553
3.63% notes due 2029 – net			495,215			479,735			494,308			461,180
5.20% notes due 2030 – net			589,643			609,132			—			—
3.38% notes due 2031 – net			690,304			649,572			688,962			620,809
3.25% notes due 2033 – net			693,032			617,617			692,343			585,389
Total		$	4,994,546		$	4,896,536		$	4,838,859		$	4,627,104