v3.25.2
Fair Value of Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Financial Instruments

As of June 30, 2025 and December 31, 2024, all financial instruments and liabilities were reflected in our condensed consolidated balance sheets at amounts which, in our estimation, reasonably approximated their fair values, except for the following:

 

 

 

June 30, 2025

 

 

December 31, 2024

 

 

Estimated fair value

 

 

Carrying value

 

 

Estimated fair value

 

 

Carrying value

 

Investments in real estate debt, net

 

$

75,743

 

 

$

74,424

 

 

$

75,660

 

 

$

74,217

 

Secured debt, net

 

 

(455,900

)

 

 

(452,627

)

 

 

(108,342

)

 

 

(108,359

)