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Summary of Significant Accounting Policies (Tables) | 3 Months Ended
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Mar. 31, 2025
Accounting Policies [Abstract] |
Fair Value, by Balance Sheet Grouping | The following table presents the carrying value and fair value for the Company’s financial instruments ($ in millions):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of March 31, 2025 | ​ | As of December 31, 2024
​ | ​ | Carrying | ​ | Fair | ​ | Carrying | ​ | Fair
​ |  | Value |  | Value |  | Value |  | Value
Assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net investment in sales-type leases(1) | ​ | $ | 3,472 | ​ | $ | 3,525 | ​ | $ | 3,455 | ​ | $ | 3,680
Ground Lease receivables(1) | ​ |  | 1,854 | ​ |  | 1,964 | ​ |  | 1,833 | ​ |  | 2,043
Loans receivable, net - related party(1) | ​ | ​ | 113 | ​ | ​ | 114 | ​ | ​ | 112 | ​ | ​ | 115
Cash and cash equivalents(2) | ​ |  | 17 | ​ |  | 17 | ​ |  | 8 | ​ |  | 8
Restricted cash(2) | ​ |  | 9 | ​ |  | 9 | ​ |  | 9 | ​ |  | 9
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Debt obligations, net(1) | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Level 1 | ​ | ​ | 1,427 | ​ | ​ | 1,360 | ​ | ​ | 1,426 | ​ | ​ | 1,335
Level 3 | ​ | ​ | 2,914 | ​ | ​ | 2,379 | ​ | ​ | 2,891 | ​ | ​ | 2,351
Total debt obligations, net | ​ | ​ | 4,341 | ​ |  | 3,739 | ​ |  | 4,317 | ​ |  | 3,686
(1) | The fair value of the Company’s net investment in sales-type leases, Ground Lease receivables and loans receivable, net – related party are classified as Level 3 within the fair value hierarchy. The fair value of the Company’s debt obligations traded in secondary markets are classified as Level 1 within the fair value hierarchy and the fair value of the Company’s debt obligations not traded in secondary markets are classified as Level 3 within the fair value hierarchy.
(2) | The Company determined the carrying values of its cash and cash equivalents and restricted cash approximated their fair values and are classified as Level 1 within the fair value hierarchy.
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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