v3.25.4
Leases (Tables)
9 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Operating Lease Income From Leases
The following table details the components of operating lease income from leases in which the Company is the lessor.
Period from Inception through December 31, 2025
Base rent (1)
$18,607 
Straight-line rental revenue, net (2)
1,071 
Variable lease payments (3)
8,541 
Amortization of below market lease intangibles
1,280 
Total Rental revenue$29,499 
__________________
(1)Base rent consists of fixed lease payments.
(2)Represents lease income related to the excess (deficit) of straight-line rental revenue over fixed lease payments.
(3)Consists of reimbursement of common area maintenance (“CAM”), real estate taxes, and utilities.
Schedule of Undiscounted Future Minimum Rents
The following table presents the undiscounted future minimum rents the Company expects to receive for its properties classified as operating leases as of December 31, 2025.
Year
Future Minimum Rents
2026$210,471 
2027174,825 
2028164,652 
2029159,112 
2030142,876 
Thereafter555,043 
Total$1,406,979