v3.25.2
Real Estate Investments (Tables)
6 Months Ended
Jun. 30, 2025
Real Estate [Abstract]  
Schedule of Sale of Properties

The Company sold two properties during the six months ended June 30, 2024, as detailed in the table below (in thousands):

 

Property Name

 

Location

 

Date of Sale

 

Sales Price

 

 

Net Cash Proceeds (1)

 

 

Gain on Sale
of Real Estate

 

Old Farm

(2)

Houston, Texas

 

March 1, 2024

 

$

103,000

 

 

$

102,704

 

 

$

31,548

 

Radbourne Lake

 

Charlotte, North Carolina

 

April 30, 2024

 

 

39,250

 

 

 

38,904

 

 

 

18,847

 

 

 

 

 

 

 

$

142,250

 

 

$

141,608

 

 

$

50,395

 

(1)
Represents sales price, net of closing costs.
(2)
Old Farm was sold to NexBank Capital, Inc. (“NexBank Capital”). A director and officer of the Company, also (i) is the beneficiary of a trust that indirectly owns 100% of the limited partnership interests in the parent of the Adviser and directly owns 100% of the general partnership interests in the parent of the Adviser and (ii) is a director of NexBank Capital, the holding company of NexBank, directly owns a minority of the common stock of NexBank, and is the beneficiary of a trust that directly owns a substantial portion of the common stock of NexBank. See Note 9.