XML 67 R50.htm IDEA: XBRL DOCUMENT v3.24.0.1
Net Investment in Sales-type Leases and Ground Lease Receivables - Joint Venture (Details)
$ in Thousands
1 Months Ended 12 Months Ended
Nov. 30, 2023
USD ($)
May 31, 2023
USD ($)
Sep. 30, 2022
USD ($)
Dec. 31, 2023
USD ($)
lease
Dec. 31, 2022
USD ($)
Joint venture          
Ground lease acquisition purchase price       $ 225,840  
Gain (Loss) on Sale of Leases Held For Investment       $ 447 $ 55,811
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  
First look rights period on qualifying investments       18 months  
Number of Ground Leases acquired | lease       3  
Ground lease acquisition purchase price       $ 60,100  
Funded amount of Ground Lease acquisition       $ 36,200  
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