v3.25.2
Condensed Consolidated Statements of Changes in Redeemable Common Shares and Shareholders' Equity (Unaudited) - USD ($)
$ in Thousands
Total
Additional Paid-in Capital [Member]
Accumulated Earnings (Deficit) and Cumulative Distributions [Member]
Redeemable Common Stock [Member]
Common Stock Class S [Member]
Common Stock [Member]
Common Stock Class I [Member]
Common Stock [Member]
Temporary equity, balance at Dec. 31, 2023       $ 32,199    
Balance at Dec. 31, 2023 $ 1,696 $ 3,683 $ (1,991)   $ 3 $ 1
Temporary equity, common shares issued       640    
Common shares issued 125,551 125,488     36 27
Offering costs (6,268) (6,268)        
Temporary equity, amortization of share grants       30    
Net income 2,570   2,570      
Temporary equity, remeasurement of redeemable common shares       268    
Remeasurement of redeemable common shares (268) (268)        
Distributions declared on common shares (3,997)   (3,997)      
Temporary equity, balance at Jun. 30, 2024       33,137    
Balance at Jun. 30, 2024 119,284 122,635 (3,418)   39 28
Temporary equity, balance at Mar. 31, 2024       32,873    
Balance at Mar. 31, 2024 48,917 51,179 (2,291)   20 9
Temporary equity, common shares issued       134    
Common shares issued 74,872 74,834     19 19
Offering costs (3,263) (3,263)        
Temporary equity, amortization of share grants       15    
Net income 1,530   1,530      
Temporary equity, remeasurement of redeemable common shares       115    
Remeasurement of redeemable common shares (115) (115)        
Distributions declared on common shares (2,657)   (2,657)      
Temporary equity, balance at Jun. 30, 2024       33,137    
Balance at Jun. 30, 2024 119,284 122,635 (3,418)   39 28
Temporary equity, balance at Dec. 31, 2024 34,307     34,307    
Balance at Dec. 31, 2024 161,532 166,938 (5,495)   51 38
Temporary equity, common shares issued       352    
Common shares issued 45,415 45,392     12 11
Offering costs (2,470) (2,470)        
Common shares repurchased (255) (255)        
Temporary equity, amortization of share grants       30    
Net income 12,655   12,655      
Temporary equity, remeasurement of redeemable common shares       424    
Remeasurement of redeemable common shares (424) (424)        
Distributions declared on common shares (9,802)   (9,802)      
Temporary equity, balance at Jun. 30, 2025 35,113     35,113    
Balance at Jun. 30, 2025 206,651 209,181 (2,642)   63 49
Temporary equity, balance at Mar. 31, 2025       34,674    
Balance at Mar. 31, 2025 182,057 185,692 (3,734)   56 43
Temporary equity, common shares issued       260    
Common shares issued 25,290 25,277     7 6
Offering costs (1,369) (1,369)        
Common shares repurchased (255) (255)        
Temporary equity, amortization of share grants       15    
Net income 6,591   6,591      
Temporary equity, remeasurement of redeemable common shares       164    
Remeasurement of redeemable common shares (164) (164)        
Distributions declared on common shares (5,499)   (5,499)      
Temporary equity, balance at Jun. 30, 2025 35,113     $ 35,113    
Balance at Jun. 30, 2025 $ 206,651 $ 209,181 $ (2,642)   $ 63 $ 49