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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income (loss) $ 86,697 $ 80,537
Adjustments to reconcile net income to cash flows from operating activities:    
Depreciation and amortization 6,436 7,461
Stock-based compensation expense 9,679 10,125
Deferred operating lease income (22,782) (23,088)
Non-cash interest income from sales-type leases (75,343) (67,659)
Non-cash interest expense 9,351 9,996
Amortization of real estate-related intangibles, net 1,732 1,732
Write-off of investment in preferred equity 1,945  
Provision for credit losses 5,671 8,447
Earnings from equity method investments (14,558) (18,120)
Distributions from operations of equity method investments 6,012 11,308
Amortization of premium, discount and deferred financing costs on debt obligations, net 6,151 5,474
Proceeds received from derivative transactions 13,127  
Other operating activities (1,446) (5,798)
Changes in assets and liabilities:    
Changes in deferred expenses and other assets, net 2,567 4,594
Changes in accounts payable, accrued expenses and other liabilities 256 4,948
Cash flows provided by (used in) operating activities 35,495 29,957
Cash flows from investing activities:    
Origination/acquisition of net investment in sales-type leases and Ground Lease receivables (129,287) (258,042)
Origination of loans receivable, net (45,309)  
Contributions to equity method investments (23,839) (9,621)
Distributions from equity method investments 9,528 52,425
Net proceeds received from sale of real estate available and held for sale 3,180 5,143
Return of deposits on Ground Lease investments   2,021
Funding of cash collateral for debt obligations   (19,112)
Return of cash collateral for debt obligations   19,112
Proceeds received from derivative transactions 5,055 8,914
Proceeds received from the settlement of derivative transactions   9,687
Other investing activities 487 (1,424)
Cash flows provided by (used in) investing activities (180,185) (190,897)
Cash flows from financing activities:    
Proceeds from debt obligations 923,735 1,090,336
Repayments of debt obligations (732,000) (850,000)
Payments for deferred financing costs (466) (20,394)
Dividends paid to common shareholders (38,231) (37,947)
Payment of offering costs   (51)
Payments for withholding taxes upon vesting for stock-based compensation (3,975) (5,063)
Redemption of noncontrolling interests (125) (18,435)
Distributions to noncontrolling interests (46) (762)
Contributions from noncontrolling interests   28,902
Acquisition of noncontrolling interest   (48,124)
Other financing activities (61)  
Cash flows provided by (used in) financing activities 148,831 138,462
Changes in cash, cash equivalents and restricted cash 4,141 (22,478)
Cash, cash equivalents and restricted cash at beginning of period 17,118 46,740
Cash, cash equivalents and restricted cash at end of period $ 21,259 $ 24,262