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Investments in Real Estate - Summary of Investments in Real Estate, Net (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Real Estate Investments, Net [Abstract]    
Building and building improvements $ 590,628 $ 219,684
Land and land improvements 98,465 29,244
Furniture, fixtures and equipment 5,348 1,094
Tenant improvements 6,736 2,513
Total 701,177 252,535
Accumulated depreciation (16,765) (6,868)
Investment in real estate, net $ 684,412 $ 245,667