v3.25.2
Condensed Consolidated Statements of Changes in Stockholders’ Equity and Redeemable Common Stock (Unaudited) - USD ($)
$ in Thousands
Total
Series A Preferred Stock
Series A Preferred Stock
Common Stock
Class S Common Stock
Common Stock
Class S-1 Common Stock
Common Stock
Class D Common Stock
Common Stock
Class D-1 Common Stock
Common Stock
Class I Common Stock
Common Stock
Class E Common Stock
Common Stock
Class F Common Stock
Additional Paid-in Capital
Additional Paid-in Capital
Class F Common Stock
Accumulated Other Comprehensive Income (Loss)
Retained Earnings (Accumulated Deficit)
Beginning balance at Dec. 31, 2023 $ 25,472 $ 205 $ 0 $ 11 $ 0 $ 0 $ 3 $ 0 $ 0 $ 32,549   $ 0 $ (7,296)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                          
Net income (loss) 4,687                       4,687
Proceeds from issuance of common stock, net of offering costs 52,971     14     7 1   52,949      
Common stock distribution reinvestment 773                 773      
Common stock dividends (6,311)                       (6,311)
Preferred stock dividends (7)                       (7)
Amortization of equity based compensation 17                 17      
Ending balance at Mar. 31, 2024 77,602 205 0 25 0 0 10 1 0 86,288   0 (8,927)
Beginning balance at Dec. 31, 2023 105,340                        
Redeemable Common Stock                          
Proceeds from issuance of redeemable common stock 0                        
Adjustment to the carrying value of redeemable common stock 0                        
Ending balance at Mar. 31, 2024 105,340                        
Beginning balance at Dec. 31, 2023 25,472 205 0 11 0 0 3 0 0 32,549   0 (7,296)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                          
Net income (loss) 8,314                        
Repurchase of common stock (29)                        
Foreign currency translation adjustment 0                        
Ending balance at Jun. 30, 2024 238,055 205 0 39 0 0 15 1 47 250,304   0 (12,556)
Beginning balance at Dec. 31, 2023 105,340                        
Ending balance at Jun. 30, 2024 5,660                        
Beginning balance at Mar. 31, 2024 77,602 205 0 25 0 0 10 1 0 86,288   0 (8,927)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                          
Net income (loss) 3,627                       3,627
Proceeds from issuance of common stock, net of offering costs 161,630     13     5     161,565 $ 47    
Common stock distribution reinvestment 2,636     1           2,635      
Common stock dividends (7,249)                       (7,249)
Preferred stock dividends (7)                       (7)
Amortization of equity based compensation 20                 20      
Repurchase of common stock (29)                 (29)      
Foreign currency translation adjustment 0                        
Adjustment to the carrying value of redeemable common stock (175)                 (175)      
Ending balance at Jun. 30, 2024 238,055 205 0 39 0 0 15 1 47 250,304   0 (12,556)
Beginning balance at Mar. 31, 2024 105,340                        
Redeemable Common Stock                          
Proceeds from issuance of redeemable common stock 145                        
Repurchase of redeemable common stock (100,000)                        
Adjustment to the carrying value of redeemable common stock 175                        
Ending balance at Jun. 30, 2024 5,660                        
Beginning balance at Dec. 31, 2024 435,349 205 0 72 0 0 27 1 82 448,947   (65) (13,920)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                          
Net income (loss) 11,664                       11,664
Proceeds from issuance of common stock, net of offering costs 105,668     33     11     105,624      
Common stock distribution reinvestment 7,568     1         2 7,565      
Common stock dividends (12,943)                       (12,943)
Preferred stock dividends (2)                       (2)
Amortization of equity based compensation 19                 19      
Repurchase of common stock (754)                 (754)      
Redemption of preferred stock (232) (205)                     (27)
Foreign currency translation adjustment 26                     26  
Adjustment to the carrying value of redeemable common stock (160)                 (160)      
Ending balance at Mar. 31, 2025 546,203 0 0 106 0 0 38 1 84 561,241   (39) (15,228)
Beginning balance at Dec. 31, 2024 151,367                        
Redeemable Common Stock                          
Proceeds from issuance of redeemable common stock 2,814                        
Repurchase of redeemable common stock (30,000)                        
Adjustment to the carrying value of redeemable common stock 160                        
Ending balance at Mar. 31, 2025 124,341                        
Beginning balance at Dec. 31, 2024 435,349 205 0 72 0 0 27 1 82 448,947   (65) (13,920)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                          
Net income (loss) 19,951                        
Repurchase of common stock (3,200)                        
Foreign currency translation adjustment 149                        
Ending balance at Jun. 30, 2025 665,442 0 2 139 0 0 53 1 85 686,368   84 (21,290)
Beginning balance at Dec. 31, 2024 151,367                        
Ending balance at Jun. 30, 2025 125,200                        
Beginning balance at Mar. 31, 2025 546,203 0 0 106 0 0 38 1 84 561,241   (39) (15,228)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                          
Net income (loss) 8,287                       8,287
Proceeds from issuance of common stock, net of offering costs 118,808   2 32     15     118,759      
Common stock distribution reinvestment 8,670     1     1   1 8,667      
Common stock dividends (14,349)                       (14,349)
Amortization of equity based compensation 43                 43      
Repurchase of common stock (2,398)           (1)     (2,397)      
Foreign currency translation adjustment 123                     123  
Adjustment to the carrying value of redeemable common stock 55                 55      
Ending balance at Jun. 30, 2025 665,442 $ 0 $ 2 $ 139 $ 0 $ 0 $ 53 $ 1 $ 85 $ 686,368   $ 84 $ (21,290)
Beginning balance at Mar. 31, 2025 124,341                        
Redeemable Common Stock                          
Proceeds from issuance of redeemable common stock 1,062                        
Repurchase of redeemable common stock (148)                        
Adjustment to the carrying value of redeemable common stock (55)                        
Ending balance at Jun. 30, 2025 $ 125,200