v3.25.4
Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Financial Instruments

As of December 31, 2025 and 2024, all financial instruments and liabilities were reflected in our consolidated balance sheets at amounts which, in our estimation, reasonably approximated their fair values, except for the following:

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

Estimated fair value

 

 

Carrying value

 

 

Estimated fair value

 

 

Carrying value

 

Investment in real estate debt, net

 

$

75,969

 

 

$

74,921

 

 

$

75,660

 

 

$

74,217

 

Secured debt, net

 

 

(1,119,471

)

 

 

(1,104,656

)

 

 

(108,342

)

 

 

(108,359

)