v3.25.2
Mandatorily Redeemable Instruments (Tables)
 6 Months Ended
Jun. 30, 2025
Noncontrolling Interest [Abstract]  
Summary of Mandatorily Redeemable Instruments Activity Related to the Special Limited Partner

The following table details the Mandatorily Redeemable Instruments activity for the six months ended June 30, 2025 ($ in thousands):

 

 

Amount

 

Balance at the beginning of the year

 

$

105,325

 

Distributions declared

 

 

2,149

 

Reclassification to distributions payable/paid

 

 

(2,149

)

Redemption value adjustment

 

 

588

 

Ending balance

 

$

105,913

 
Summary of Future Payments Due Under Mandatorily Redeemable Instruments

The following table details the future payments due under the Mandatorily Redeemable Instruments as of June 30, 2025 ($ in thousands):

Year

 

Total(1)

 

2025 (remainder)

 

$

105,913

 

2026

 

 

—

 

2027

 

 

—

 

2028

 

 

—

 

2029

 

 

—

 

Thereafter

 

 

—

 

Total future payments

 

$

105,913

 

(1) Redemptions of Mandatorily Redeemable Instruments are subject to the share repurchase plan’s 2% monthly and 5% quarterly caps after satisfying repurchase requests from investors in the Offering.