Non-Controlling Interests - Additional Information (Details)
$ / shares in Units, $ in Thousands |
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1 Months Ended |
3 Months Ended |
6 Months Ended |
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May 28, 2025
USD ($)
shares
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Aug. 26, 2024
USD ($)
$ / shares
shares
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Jun. 30, 2025
USD ($)
yr
$ / shares
shares
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Jun. 30, 2024
USD ($)
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Jun. 30, 2025
USD ($)
yr
$ / shares
shares
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Jun. 30, 2024
USD ($)
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Aug. 05, 2025
$ / shares
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Dec. 31, 2024
USD ($)
yr
shares
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| Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] |
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| Operating partnership units, outstanding | shares |
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490,299
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490,299
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490,299
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| Net income (loss) attributable to noncontrolling interest |
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$ (60)
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$ 14
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$ 10
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$ 82
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| Contract with customer, asset, after allowance for credit loss |
$ 5,424
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$ 0
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$ 0
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$ 3,658
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| Forward contract asset description |
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The significant inputs into the model were: a volatility of 20.0%, a term of 20.0 years and an estimated credit spread of 4.08%. The fair value of the forward contract asset at December, 31 2024 was $3,658. The significant inputs into the model were: a volatility of 20.0%, a term of 20.0 years and an estimated credit spread of 3.35%.
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| Issuance cost |
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$ 27
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| Forward contract asset |
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$ 3,658
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| Credit spread [Member] |
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| Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] |
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| Measurement IInput |
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4.08
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4.08
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3.35
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| Expected term [Member] |
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| Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] |
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| Measurement IInput | yr |
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20
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20
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20
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| Volatility [Member] |
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| Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] |
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| Measurement IInput |
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20
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20
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20
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| First 5 years after August 26, 2024 [Member] |
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| Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] |
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| Cash distribution rate |
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4.00%
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4.00%
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| 6th and 7th years after the original issue date [Member] |
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| Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] |
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| Cash distribution rate |
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8.00%
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8.00%
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| PIK distribution rate |
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12.00%
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12.00%
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| 8th year after the original issue date [Member] |
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| Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] |
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| Cash distribution rate |
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12.00%
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12.00%
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| PIK distribution rate |
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16.00%
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16.00%
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| First 5 years after the original issue date [Member] |
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| Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] |
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| PIK distribution rate |
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7.00%
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7.00%
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| Cash Distribution Rate [Member] |
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| Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] |
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| Description of distribution rate |
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Cash Distribution Rate is a rate per annum equal to (a) 4.0% within the first 5 years after August 26, 2024, the (“Original Issue Date”), (b) 8.0% in the 6th and 7th years after the Original Issue Date, and (c) 12.0% starting from the 8th year after the Original Issue Date and each subsequent year thereafter.
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| SOFR [Member] | 6th and 7th years after the original issue date [Member] |
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| Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] |
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| PIK distribution rate basic points |
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650.00%
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650.00%
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| SOFR [Member] | 8th year after the original issue date [Member] |
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| Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] |
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| PIK distribution rate basic points |
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1050.00%
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1050.00%
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| Series C Cumulative Perpetual Preferred Units [Member] |
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| Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] |
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| Operating partnership |
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the Company, through its Operating Partnership, issued 60,910 Non-Convertible Cumulative Series C Preferred Units (“Series C Preferred Units”), at a price of $1,000 per Series C Preferred Unit, for gross proceeds of $60,910, net of $7,280 in investor fees to be paid in four equal installments at closing and each anniversary over the next three years and $4,068 issuance costs, to the Investor pursuant to the Securities Purchase Agreement (“Purchase Agreement”). Bundled with the issuance of 60,910 Series C Preferred Units, the Company, through its Operating Partnership, also issued (i) a forward contract, pursuant to which the Operating Partnership will sell an additional 79,090 Series C Preferred Units at a price of $1,000 per Series C Preferred Unit within 270 days upon execution of the Purchase Agreement, and (ii) warrants that are exercisable into 11,760,000 of OP Units (“Warrants”).
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| Series C Preferred Stock [Member] |
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| Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] |
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| Non-convertible units | shares |
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60,910
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| Per share | $ / shares |
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$ 1,000
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$ 1,000
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| Shares issued | shares |
79,090
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60,910
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| Sale of stock | shares |
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79,090
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| Sale of stock, price per share | $ / shares |
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$ 1,000
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$ 1,000
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$ 1,000
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| Gross proceeds |
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$ 60,910
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| Net proceeds |
$ 78,956
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| Initial fair value at issuance |
73,532
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| Issuance costs |
134
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| Additional issuance costs accrued |
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$ 133
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| Forward contract asset appreciated to fair value |
$ 5,424
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| Outstanding units | shares |
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140,000
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140,000
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60,910
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| Percentage of total voting power |
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50.00%
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| Aggregate amount of cash distributions |
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$ 1,350
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$ 1,350
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| Accrued cash and PIK dividends |
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$ 2,724
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$ 2,724
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| Settled forward contract upon issuance | shares |
79,090
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| Forward contract asset |
$ 5,424
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$ 3,658
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| Series C Preferred Stock [Member] | Purchase Agreement [Member] |
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| Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] |
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| Exercisable warrants | shares |
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11,760,000
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| Investor fees |
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$ 7,280
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| Issuance cost |
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$ 4,068
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| Additional shares obligation to sell | shares |
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79,090
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79,090
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| OP Unitwarrants [Member] |
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| Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] |
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| Net income (loss) attributable to noncontrolling interest |
|
|
$ (60)
|
$ 14
|
$ 10
|
$ 82
|
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