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Noncontrolling Interest (Tables)
 6 Months Ended
Jun. 30, 2026
Noncontrolling Interest [Abstract]  
Noncontrolling interest activity
The following table summarizes the activity for noncontrolling interest in the Operating Partnership during the six months ended June 30, 2026.

Noncontrolling InterestLTIP UnitsOther Common UnitsTotal Noncontrolling Common UnitsNoncontrolling Interest
Balance at December 31, 20252,373,111 1,416,596 3,789,707 1.9 %
Granted/Issued358,885 — 358,885 
Forfeited— — — 
Conversions from LTIP units to Other Common Units(206,066)206,066 — 
Redemptions from Other Common Units to common stock— (206,066)(206,066)
Balance at June 30, 20262,525,930 1,416,596 3,942,526 2.0 %
Schedule of share-based payment award, LTIP unit awards, valuation assumptions
The following table summarizes the assumptions used in valuing such LTIP units granted during the six months ended June 30, 2026.

LTIP Units
Grant dateJanuary 8, 2026
Expected term (years)10
Expected stock price volatility22.0 %
Expected dividend yield4.0 %
Risk-free interest rate3.56 %
Fair value of LTIP units at issuance (in thousands)$5,210 
LTIP units at issuance146,268 
Fair value unit price per LTIP unit at issuance$35.62 
Schedule of activity related to unvested LTIP unit awards
The following table summarizes activity related to the Company’s unvested LTIP units during the six months ended June 30, 2026.

Unvested LTIP UnitsLTIP UnitsWeighted Average Grant Date Fair Value per Unit
Balance at December 31, 2025166,252 $33.39 
Granted358,885 $35.62 
Vested(285,818)$35.33 
Forfeited— $— 
Balance at June 30, 2026239,319 $34.41