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v3.25.3

Fair Value Measurements (Details) $ in Thousands | Sep. 30, 2025 USD ($) | Dec. 31, 2024 USD ($)
--- | --- | ---
Fair value measurements |  |
Mortgage loans receivable, net of credit loss reserve | $ 389,657 | $ 312,583
Notes receivable, net of credit loss reserve | 26,740 | 47,240
Term loans, net of debt issue costs | 944,515 | 684,600
Senior unsecured notes, net of debt issue costs | $ 396,065 | $ 440,442
Level 3 | Senior Unsecured Notes maturing before 2030 | Discount Rate |  |
Fair value measurements |  |
Future cash outflows discount rate (as a percent) | 5.25 | 0.0625
Level 3 | Senior Unsecured Notes maturing 2030 and after | Discount Rate |  |
Fair value measurements |  |
Future cash outflows discount rate (as a percent) | 0.055 | 0.065
Level 3 | Financing receivables | Discount Rate |  |
Fair value measurements |  |
Future cash inflows discount rate (as a percent) | 0.075 | 0.077
Level 3 | Mortgage Loans Receivable | Discount Rate |  |
Fair value measurements |  |
Future cash inflows discount rate (as a percent) | 0.093 | 0.10
Level 3 | Notes Receivable | Discount Rate |  |
Fair value measurements |  |
Future cash inflows discount rate (as a percent) | 0.077 | 0.076
Carrying Value |  |
Fair value measurements |  |
Mortgage loans receivable, net of credit loss reserve | $ 389,657 | $ 312,583
Revolving line of credit | 548,450 | 144,350
Term loans, net of debt issue costs |  | 99,808
Senior unsecured notes, net of debt issue costs | 396,065 | 440,442
Carrying Value | Financing receivables |  |
Fair value measurements |  |
Notes receivable, net of credit loss reserve | 358,579 | 357,867
Carrying Value | Notes Receivable |  |
Fair value measurements |  |
Notes receivable, net of credit loss reserve | 26,740 | 47,240
Fair Value |  |
Fair value measurements |  |
Revolving line of credit | 548,450 | 144,350
Term loans, net of debt issue costs |  | 100,000
Fair Value | Financing receivables |  |
Fair value measurements |  |
Notes receivable, net of credit loss reserve | 367,061 | 363,228
Fair Value | Level 3 |  |
Fair value measurements |  |
Mortgage loans receivable, net of credit loss reserve | 519,550 | 386,871
Senior unsecured notes, net of debt issue costs | 376,268 | 402,394
Fair Value | Level 3 | Notes Receivable |  |
Fair value measurements |  |
Notes receivable, net of credit loss reserve | $ 30,402 | $ 53,549

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