v3.26.1
Mortgage Notes, Repurchase Facility and Unsecured Revolving Credit Facility - Summary of the Mortgage Notes Secured by Properties and Repurchase Facility (Details) - USD ($)
 12 Months Ended
Jul. 15, 2025
Dec. 31, 2025
Dec. 31, 2024
Aug. 22, 2024
Debt Instrument [Line Items]        
Deferred financing costs, net   $ (2,565,000) $ 0  
Mortgage notes, net   359,445,000 123,091,000  
Long-Term Debt [1]   607,091,000 171,636,000  
Mortgage notes        
Debt Instrument [Line Items]        
Total loans secured by real estate   365,641,000 124,836,000  
Deferred financing costs, net   (4,327,000) (1,142,000)  
Mortgage discount, net   (1,869,000) (603,000)  
Mortgage notes, net   359,445,000 123,091,000  
Long-Term Debt   365,641,000    
Credit Facility        
Debt Instrument [Line Items]        
Maximum Facility Size   $ 325,000,000    
Interest Rate 0.50%      
Investment, Variable Interest Rate, Type [Extensible Enumeration]   Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]    
Maturity Date Jul. 15, 2028 Jul. 15, 2028    
Weighted average interest rate   1.30%    
Repurchase Facility        
Debt Instrument [Line Items]        
Maximum Facility Size   $ 250,000,000   $ 150,000,000
Investment, Variable Interest Rate, Type [Extensible Enumeration]   Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]    
Maturity Date   Aug. 22, 2027    
Weighted average interest rate   1.58%    
Commercial Mortgage Loan | Credit Facility        
Debt Instrument [Line Items]        
Total loans secured by real estate   $ 73,000,000 0  
Commercial Mortgage Loan | Repurchase Facility        
Debt Instrument [Line Items]        
Total loans secured by real estate   168,450,000 46,800,000  
Unamortized deferred financing costs   (587,000) (417,000)  
Long-Term Debt   167,863,000 46,383,000  
Fixed Rate | Mortgage notes        
Debt Instrument [Line Items]        
Total loans secured by real estate   $ 240,274,000 114,836,000  
Fixed Rate | Mortgage notes | Caroline West Gray        
Debt Instrument [Line Items]        
Interest Rate   5.44%    
Maturity Date   Dec. 01, 2029    
Total loans secured by real estate   $ 45,911,000 45,911,000  
Fixed Rate | Mortgage notes | Caroline Post Oak        
Debt Instrument [Line Items]        
Interest Rate   5.44%    
Maturity Date   Dec. 01, 2029    
Total loans secured by real estate   $ 40,528,000 40,528,000  
Fixed Rate | Mortgage notes | Coda on Centre        
Debt Instrument [Line Items]        
Interest Rate   4.28%    
Maturity Date   May 01, 2029    
Total loans secured by real estate   $ 27,860,000 28,397,000  
Fixed Rate | Mortgage notes | The Elmstead        
Debt Instrument [Line Items]        
Interest Rate [2]   4.30%    
Maturity Date [2]   Apr. 01, 2031    
Total loans secured by real estate [2]   $ 21,245,000 0  
Fixed Rate | Mortgage notes | Bass Lofts        
Debt Instrument [Line Items]        
Interest Rate   3.95%    
Maturity Date   Sep. 05, 2027    
Total loans secured by real estate   $ 14,902,000 0  
Fixed Rate | Mortgage notes | One Brooklyn        
Debt Instrument [Line Items]        
Interest Rate   4.35%    
Maturity Date   Jul. 01, 2028    
Total loans secured by real estate   $ 6,600,000 0  
Fixed Rate | Mortgage notes | Charleston        
Debt Instrument [Line Items]        
Interest Rate   5.08%    
Maturity Date   Sep. 01, 2030    
Total loans secured by real estate   $ 59,728,000 0  
Fixed Rate | Mortgage notes | Baker Chocolate        
Debt Instrument [Line Items]        
Interest Rate   3.91%    
Maturity Date   Jan. 01, 2028    
Total loans secured by real estate   $ 23,500,000 0  
Variable Rate | Mortgage notes        
Debt Instrument [Line Items]        
Total loans secured by real estate   $ 125,367,000 10,000,000  
Variable Rate | Mortgage notes | 6200 Bristol        
Debt Instrument [Line Items]        
Interest Rate [3]   2.05%    
Investment, Variable Interest Rate, Type [Extensible Enumeration]   Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]    
Maturity Date [3]   Apr. 01, 2029    
Total loans secured by real estate [3]   $ 10,000,000 10,000,000  
Variable Rate | Mortgage notes | Norfolk Industrial Portfolio        
Debt Instrument [Line Items]        
Interest Rate [4]   1.75%    
Investment, Variable Interest Rate, Type [Extensible Enumeration]   Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]    
Maturity Date [4]   Jun. 19, 2030    
Total loans secured by real estate [4]   $ 43,700,000 0  
Variable Rate | Mortgage notes | Preserve at Pine Valley        
Debt Instrument [Line Items]        
Interest Rate [5]   1.50%    
Investment, Variable Interest Rate, Type [Extensible Enumeration]   Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]    
Maturity Date [5]   Dec. 10, 2030    
Total loans secured by real estate [5]   $ 21,200,000 0  
Variable Rate | Mortgage notes | Vineyard Commons        
Debt Instrument [Line Items]        
Interest Rate [6]   1.40%    
Investment, Variable Interest Rate, Type [Extensible Enumeration]   Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]    
Maturity Date [6]   Jan. 01, 2030    
Total loans secured by real estate [6]   $ 45,175,000 0  
Variable Rate | Mortgage notes | Stablewood        
Debt Instrument [Line Items]        
Maximum Facility Size   $ 50,000,000    
Interest Rate [7]   3.75%    
Investment, Variable Interest Rate, Type [Extensible Enumeration]   Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]    
Maturity Date [7]   Aug. 08, 2028    
Total loans secured by real estate [7]   $ 5,292,000 $ 0  
[1]

(1) Excludes deferred financing costs and discounts.
[2]

(1) This loan is comprised of a senior and a mezzanine loan. The interest rate and maturity date presented are the weighted average.
[3]

(2) The Company entered into an interest rate swap that was not designated as a hedge on April 2, 2024, which fixed the rate at 6.26%.
[4]

(3) The Company entered into an interest rate swap that was not designated as a hedge on June 20, 2025, which fixed the rate at 5.41%.
[5]

(4) The Company entered into an interest rate swap that was not designated as a hedge on December 10, 2025, which fixed the rate at 4.90%.
[6]

(5) The Company entered into an interest rate swap that was not designated as a hedge on December 10, 2025, which fixed the rate at 4.88%.
[7]

(6) Represents a line of credit secured by real estate with a maximum facility size of $50 million.