| Real Estate Assets |
REAL ESTATE ASSETSThe components of real estate assets are summarized as follows: | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | Land | $ | 5,153,148 | | | $ | 5,135,719 | | | Buildings, improvements and other intangibles | 23,479,446 | | | 23,234,033 | | | Right of use assets - finance lease | 136,608 | | | 141,194 | | | Intangible assets - tenant relationships | 335,713 | | | 334,669 | | | Intangible lease rights | 37,779 | | | 37,771 | | | 29,142,694 | | | 28,883,386 | | | Less: accumulated depreciation and amortization | (4,330,467) | | | (3,982,125) | | | Net operating real estate assets | 24,812,227 | | | 24,901,261 | | | Real estate under development/redevelopment | 126,217 | | | 103,089 | | | Real estate assets, net | $ | 24,938,444 | | | $ | 25,004,350 | |
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