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Investments in Real Estate - Schedule of Investments in Real Estate, Net (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Real Estate [Abstract]    
Building and building improvements $ 844,419 $ 268,327
Land and land improvements 345,103 106,654
Furniture, fixtures and equipment 8,355 3,881
Total 1,197,877 378,862
Accumulated depreciation (38,245) (13,792)
Investments in real estate, net $ 1,159,632 $ 365,070