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v3.25.4

Concentration (Details) | 12 Months Ended
--- | ---
Dec. 31, 2025 property state
Concentration Risk |
Number of properties | 854
North America |
Concentration Risk |
Number of states in which properties are located | state | 46
Various States, USA | Minimum | Real Estate | Geographic Concentration Risk | Geographic Distribution, Domestic |
Concentration Risk |
Concentration risk (as percent) | 5.00%
Various States, USA | Maximum | Real Estate | Geographic Concentration Risk | Geographic Distribution, Domestic |
Concentration Risk |
Concentration risk (as percent) | 12.00%
Net Lease |
Concentration Risk |
Number of properties | 760
Net Lease | TravelCenters of America Inc. | Related Party |
Concentration Risk |
Number of properties | 175
Net Lease | Real Estate Assets at Cost | Credit Concentration | TravelCenters of America Inc. | Related Party | TravelCenters of America LLC |
Concentration Risk |
Concentration risk (as percent) | 33.00%
Net Lease | North America |
Concentration Risk |
Number of properties | 854
Hotels |
Concentration Risk |
Number of properties | 94
Hotels | Sonesta International Hotels Corporation | Related Party |
Concentration Risk |
Number of properties | 69
Hotels | Real Estate | Geographic Concentration Risk | Geographic Distribution, Foreign |
Concentration Risk |
Concentration risk (as percent) | 4.30%
Hotels | Real Estate Assets at Cost | Credit Concentration | Sonesta International Hotels Corporation |
Concentration Risk |
Concentration risk (as percent) | 41.80%
Hotels | Ontario, Canada |
Concentration Risk |
Number of properties | 2

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