v3.25.2
Investment in Real Estate Debt, Net (Details) - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Debt and Equity Securities, FV-NI [Line Items]    
Principal Balance $ 75,743 $ 75,660
Deferred Fees 624 748
Carrying Value [2] $ 74,424 [1] $ 74,217 [3]
Basis spread 4.15% [4] 4.15% [5]
CECL Allowance $ 695 $ 695
Real Estate Loan    
Debt and Equity Securities, FV-NI [Line Items]    
Interest rate 4.32% 4.50%
[1] Net of a $695 CECL Allowance.
[2] Net of a current expected credit loss allowance of $695 as of June 30, 2025 and December 31, 2024.
[3] Net of a $695 CECL Allowance.
[4] Represents the one-month SOFR, which was 4.32% as of June 30, 2025.
[5] Represents the one-month SOFR, which was 4.50% as of December 31, 2024.