XML 93 R76.htm IDEA: XBRL DOCUMENT v3.25.4
Properties - Narrative (Details)
sqft in Millions, ft² in Millions
 5 Months Ended 12 Months Ended
Feb. 29, 2024
USD ($)
property
Dec. 31, 2025
USD ($)
sqft
Property
state
industry
property
tenant
loan
agreement
Dec. 31, 2025
USD ($)
sqft
Property
property
state
industry
tenant
agreement
Dec. 31, 2024
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2024
USD ($)
property
Dec. 31, 2024
USD ($)
residential_unit
Dec. 31, 2023
USD ($)
Dec. 31, 2023
property
Dec. 31, 2023
residential_unit
Dec. 31, 2016
ft²
building
Jul. 23, 2025
agreement
state
industry
tenant
Jul. 23, 2023
sqft
property
Real Estate Properties [Line Items]                          
VIE assets   $ 63,183,357,000 $ 63,183,357,000 $ 62,556,497,000 $ 62,556,497,000 $ 62,556,497,000 $ 62,556,497,000            
VIE liabilities   55,693,851,000 55,693,851,000 55,363,025,000 55,363,025,000 55,363,025,000 55,363,025,000            
Net cash paid in merger     878,493,000   0     $ 0          
Property impairment loss               124,900,000          
Properties, net   3,448,652,000 3,448,652,000 1,373,678,000 1,373,678,000 1,373,678,000 1,373,678,000            
Gain (loss) on extinguishment of debt, net     17,681,000   (3,940,000)     (1,238,000)          
Carrying Value   21,627,097,000 21,627,097,000 18,401,316,000 18,401,316,000 18,401,316,000 18,401,316,000            
Proceeds from sales of real estate     100,940,000   216,825,000     73,569,000          
California                          
Real Estate Properties [Line Items]                          
Property impairment loss               94,800,000          
Texas                          
Real Estate Properties [Line Items]                          
Property impairment loss               30,100,000          
Master Lease Portfolio                          
Real Estate Properties [Line Items]                          
Pretax income         3,300,000     11,700,000          
Medical Office Portfolio                          
Real Estate Properties [Line Items]                          
Number of acquired properties closed | building                     34    
Area of property | ft²                     1.9    
Total gross properties and lease intangibles   793,100,000 793,100,000                    
Debt   482,100,000 482,100,000                    
Multifamily Conversion Property                          
Real Estate Properties [Line Items]                          
Total gross properties and lease intangibles   118,600,000 118,600,000                    
Debt   0 0                    
Construction in progress   92,500,000 92,500,000                    
Land and land improvements   26,100,000 26,100,000                    
Investing and Servicing Segment                          
Real Estate Properties [Line Items]                          
Total gross properties and lease intangibles   83,600,000 83,600,000                    
Debt   37,500,000 $ 37,500,000                    
Number of retail properties acquired | property     5                    
Number of equity interests in unconsolidated commercial real estate properties acquired | property     1                    
Commercial and Residential Lending Segment Property Portfolio                          
Real Estate Properties [Line Items]                          
Total gross properties and lease intangibles   751,700,000 $ 751,700,000                    
Debt   29,800,000 29,800,000                    
Property Segment                          
Real Estate Properties [Line Items]                          
Construction in progress   138,069,000 138,069,000 89,167,000 89,167,000 89,167,000 89,167,000            
Land and land improvements   769,318,000 769,318,000 95,642,000 95,642,000 95,642,000 95,642,000            
Property Segment | Master Lease Portfolio                          
Real Estate Properties [Line Items]                          
Proceeds from sale of operating properties $ 387,100,000                        
Gain (loss) on extinguishment of debt, net     (1,200,000)   (1,200,000)                
Number of retail properties sold | property 16                        
Mortgage debt $ 194,900,000                        
Proceeds from sales of real estate $ 188,000,000.0                        
Gain on sale of investments         92,000,000.0                
Property Segment | Fundamental Income Properties, LLC                          
Real Estate Properties [Line Items]                          
VIE assets   2,400,000,000 2,400,000,000                    
VIE liabilities   $ 1,400,000,000 1,400,000,000                    
Number of additional properties acquired | Property   25                      
Net cash paid in merger   $ 221,100,000                      
Value of existing construction loans converted   $ 16,000,000.0                      
Number of existing construction loans | loan   3                      
Number of properties sold | property   1                      
Proceeds from sale of operating properties   $ 500,000                      
Investing and Servicing Segment                          
Real Estate Properties [Line Items]                          
Land and land improvements   16,567,000 $ 16,567,000 23,345,000 23,345,000 23,345,000 23,345,000            
Investing and Servicing Segment | Operating Properties                          
Real Estate Properties [Line Items]                          
Number of properties sold | property     2           4        
Proceeds from sale of operating properties     $ 36,300,000   18,200,000     63,700,000          
Gain on sales of real estate     10,100,000   8,300,000     25,600,000          
Gain on sale of property attributable to noncontrolling interest         2,500,000                
Deconsolidation of subsidiary               10,200,000          
Commercial and Residential Lending Segment                          
Real Estate Properties [Line Items]                          
Construction in progress   245,794,000 245,794,000 219,868,000 219,868,000 219,868,000 219,868,000            
Land and land improvements   143,090,000 143,090,000 117,983,000 117,983,000 $ 117,983,000 $ 117,983,000            
Property impairment loss     $ 26,800,000                    
Number of properties impaired | Property     4                    
Properties, net   134,000,000.0 $ 134,000,000.0                    
Commercial and Residential Lending Segment | Office Building                          
Real Estate Properties [Line Items]                          
Proceeds from sale of operating properties     60,000,000.0                    
Gain on sales of real estate     4,100,000                    
Gain (loss) on extinguishment of debt, net     23,500,000                    
Excess carrying value over sale of real estate     19,400,000                    
Commercial and Residential Lending Segment | Residential Units                          
Real Estate Properties [Line Items]                          
Proceeds from sale of operating properties     5,400,000   12,100,000     12,100,000          
Gain on sales of real estate               $ 0          
Number of residential units sold           3 3   4 4      
Commercial and Residential Lending Segment | Multifamily Properties - 2025                          
Real Estate Properties [Line Items]                          
Proceeds from sale of operating properties     54,500,000                    
Properties, net   53,500,000 53,500,000                    
Carrying Value   45,800,000 $ 45,800,000                    
Mortgage loans term     3 years                    
Unfunded commitments   6,000,000.0 $ 6,000,000.0                    
Initial down payment receivable   8,900,000 8,900,000                    
Interest payment receivable   700,000 700,000                    
Commercial and Residential Lending Segment | Multifamily Properties - 2024                          
Real Estate Properties [Line Items]                          
Proceeds from sale of operating properties         61,000,000.0                
Properties, net   58,000,000.0 58,000,000.0                    
Carrying Value       $ 56,000,000.0 $ 56,000,000.0 $ 56,000,000.0 $ 56,000,000.0            
Mortgage loans term       3 years                  
Initial down payment receivable   5,000,000.0 5,000,000.0                    
Interest payment receivable   $ 2,000,000.0 $ 2,000,000.0                    
Fundamental Income Properties, LLC | Property Segment                          
Real Estate Properties [Line Items]                          
Number of properties   492 492                   468
Portfolio spanning (in sqft) | sqft   14.3 14.3                   12.3
Number of states | state   44 44                 44  
Number of industries | industry   65 65                 59  
Number of tenants | tenant   106 106                 90  
Number of individuals | agreement   120 120                 103  
Weighted average lease base term   17 years 3 months 18 days 17 years 3 months 18 days                 17 years 1 month 6 days