The following table summarizes the components of other assets ($ in thousands):


	December 31, 2025		December 31, 2024
Lease inducement asset	$	10,874	$	—
Straight-line rent receivable		3,275		976
Deferred financing costs, net		2,565		—
Tenant receivables		2,400		1,131
Prepaid expenses		1,244		896
Interest receivable		1,226		467
Pre-acquisition costs		352		5
Other		374		25
Total	$	22,310	$	3,500

The following table summarizes the components of accounts payable, accrued expenses and other liabilities ($ in thousands):


	December 31, 2025		December 31, 2024
Redemptions payable(1)	$	6,955	$	—
Accrued expenses		5,947		2,482
Distributions payable(2)		3,433		1,537
Deferred rental income		3,180		—
Tenant security deposits		2,786		638
Accounts payable		2,194		291
Real estate taxes payable		1,582		206
Other		779		203
Total	$	26,856	$	5,357

(1) Includes $6.1 million relating to Mandatorily Redeemable Instruments held by the Adviser as of December 31, 2025.

(2) Included in distributions payable is $0.2 million and $0.4 million as of December 31, 2025 and 2024, respectively, relating to distributions declared on Class E units and Class E shares held by the Adviser.