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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income (loss) $ 29,410 $ 31,029
Adjustments to reconcile net income to cash flows from operating activities:    
Depreciation and amortization 2,196 2,487
Stock-based compensation expense 3,487 4,765
Deferred operating lease income (7,615) (7,718)
Non-cash interest income from sales-type leases (24,389) (21,857)
Non-cash interest expense 2,721 2,878
Amortization of real estate-related intangibles, net 578 577
Write-off of investment in preferred equity 1,945  
Provision for credit losses 2,296 709
Earnings from equity method investments (4,992) (6,912)
Distributions from operations of equity method investments 3,215 3,647
Amortization of premium, discount and deferred financing costs on debt obligations, net 2,051 1,862
Other operating activities (723) (1,877)
Changes in assets and liabilities:    
Changes in deferred expenses and other assets, net (2,770) (1,992)
Changes in accounts payable, accrued expenses and other liabilities 1,491 (10,662)
Cash flows provided by (used in) operating activities 8,901 (3,064)
Cash flows from investing activities:    
Origination/acquisition of net investment in sales-type leases and Ground Lease receivables (16,129) (79,201)
Contributions to equity method investments (3,675) (9,192)
Distributions from equity method investments 9,528 19,465
Funding of cash collateral for debt obligations   (19,112)
Net proceeds received from sale of real estate available and held for sale 1,209  
Proceeds received from derivative transactions 1,677 2,957
Proceeds received from the settlement of derivative transactions   9,687
Other investing activities 389 693
Cash flows provided by (used in) investing activities (7,001) (74,703)
Cash flows from financing activities:    
Proceeds from debt obligations 216,000 416,871
Repayments of debt obligations (193,000) (326,000)
Payments for deferred financing costs (441) (4,281)
Dividends paid to common shareholders (12,651) (12,572)
Payment of offering costs   (51)
Payments for withholding taxes upon vesting for stock-based compensation (2,794) (3,594)
Redemption of noncontrolling interests (125)  
Distributions to noncontrolling interests (24) (171)
Cash flows provided by (used in) financing activities 6,965 70,202
Changes in cash, cash equivalents and restricted cash 8,865 (7,565)
Cash, cash equivalents and restricted cash at beginning of period 17,118 46,740
Cash, cash equivalents and restricted cash at end of period $ 25,983 $ 39,175