XML 182 R58.htm IDEA: XBRL DOCUMENT v3.25.0.1
Net Investment in Sales-type Leases and Ground Lease Receivables - Joint Venture (Details)
$ in Thousands
1 Months Ended 12 Months Ended 16 Months Ended
Aug. 30, 2024
USD ($)
lease
Jan. 31, 2024
USD ($)
Nov. 30, 2023
USD ($)
May 31, 2023
USD ($)
Sep. 30, 2022
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Aug. 30, 2024
USD ($)
lease
Joint venture                  
Ground Lease acquisition purchase price           $ 183,630      
Carrying value of noncontrolling interest acquired $ 46,000               $ 46,000
Gain (Loss) on Sale of Leases Held For Investment             $ 447 $ 55,811  
Ground Lease Plus Fund                  
Joint venture                  
Ground Lease acquisition purchase price   $ 38,300              
Sovereign wealth fund | Sovereign wealth fund                  
Joint venture                  
Purchase of joint venture partner share of Ground Leases $ 48,300                
Sovereign wealth fund | Joint venture for new acquisitions of Ground Leases                  
Joint venture                  
Ownership percentage       45.00%          
Land and Related Ground Lease                  
Joint venture                  
Proceeds from Sale of Held-for-Investment Lease     $ 4,200   $ 136,000        
Gain (Loss) on Sale of Leases Held For Investment     $ 400         $ 55,800  
Joint Venture for New Acquisitions of Ground Leases                  
Joint venture                  
Joint venture commitments       $ 275,000          
Controlling interest in joint venture       55.00%          
Percent of Promote fee           15.00%      
Internal Rate of Return           9.00%      
Promote fee cap percent           1.275      
Number of Ground Leases acquired | lease 9               9
Ground Lease acquisition purchase price                 $ 170,400
Funded amount of Ground Lease acquisition $ 101,200               $ 101,200
Joint Venture for New Acquisitions of Ground Leases | First five year following acquisition                  
Joint venture                  
Percent of management fee           0.25%      
Management fee term           5 years      
Joint Venture for New Acquisitions of Ground Leases | After five years of acquisition                  
Joint venture                  
Percent of management fee           0.15%      
Joint Venture for New Acquisitions of Ground Leases | Sovereign wealth fund                  
Joint venture                  
Joint venture commitments       $ 225,000