v3.25.4
Investments in Real Estate, net - Schedule of Investments in Real Estate (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Real Estate [Abstract]    
Building and building improvements $ 1,124,964 $ 340,648
Land and land improvements 467,149 50,165
Site improvements 133,599 40,334
Total 1,725,712 431,147
Accumulated depreciation (31,791) (4,855)
Investments in real estate, net $ 1,693,921 $ 426,292