v3.25.2
STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (311) $ (132)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Loss from equity method investment in Operating Partnership 311 132
Cash flows from investing activities:    
Investment in Operating Partnership (3,305) (302)
Distributions from investment in Operating Partnership 119 60
Due from Operating Partnership 4  
Net cash flows used in investing activities (3,182) (242)
Cash flows from financing activities:    
Proceeds from issuance of common stock 3,305 301
Proceeds from distribution reinvestment plan   1
Payment of offering costs (4)  
Distributions paid to common stockholders (119) (60)
Net cash flows provided by financing activities 3,182 242
Net change in cash and cash equivalents 0 0
Cash and cash equivalents, at beginning of the period 0 0
Cash and cash equivalents, at end of the period 0 0
Supplemental schedule of non-cash investing and financing activities:    
Distributions payable 35 11
Distribution reinvestment and investment in Operating Partnership 33  
Equity-based compensation - Restricted stock issued and investment in Operating Partnership   60
Accrued distribution fee due to related party $ 154 $ 5