75000 - Document - Cover
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75010 - Statement - Consolidated Balance Sheets
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75020 - Statement - Consolidated Balance Sheets (Parenthetical)
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75030 - Statement - Consolidated Statements of Operations
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75040 - Statement - Consolidated Statements of Comprehensive Income (Loss)
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75050 - Statement - Consolidated Statements of Changes in Equity
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75060 - Statement - Consolidated Statements of Changes in Equity (Parenthetical)
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75070 - Statement - Consolidated Statements of Cash Flows
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75080 - Disclosure - Cybersecurity Risk Management and Strategy Disclosure
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995457 - Disclosure - Organization and Business Purpose
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995467 - Disclosure - Summary of Significant Accounting Policies
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995477 - Disclosure - Investments in Real Estate, net
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995487 - Disclosure - Intangible Assets, net
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995497 - Disclosure - Debt
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995507 - Disclosure - Related Party Transactions
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995517 - Disclosure - Derivative Financial Instruments
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995527 - Disclosure - Equity
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995537 - Disclosure - Other Assets and Other Liabilities
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995547 - Disclosure - Leases
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995557 - Disclosure - Commitments and Contingencies
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995567 - Disclosure - Earnings Per Share
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995577 - Disclosure - Economic Dependency
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995587 - Disclosure - Subsequent Events
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995597 - Disclosure - Schedule III
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995607 - Disclosure - Summary of Significant Accounting Policies (Policies)
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995617 - Disclosure - Summary of Significant Accounting Policies (Tables)
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995627 - Disclosure - Investments in Real Estate, net (Tables)
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995637 - Disclosure - Intangible Assets, net (Tables)
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995647 - Disclosure - Debt (Tables)
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995657 - Disclosure - Related Party Transactions (Tables)
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995667 - Disclosure - Derivative Financial Instruments (Tables)
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995677 - Disclosure - Equity (Tables)
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995687 - Disclosure - Other Assets and Other Liabilities (Tables)
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995697 - Disclosure - Leases (Tables)
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995707 - Disclosure - Earnings Per Share (Tables)
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995717 - Disclosure - Subsequent Events (Tables)
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995727 - Disclosure - Organization and Business Purpose - Additional Information (Details)
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995737 - Disclosure - Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives of Assets (Details)
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995747 - Disclosure - Summary of Significant Accounting Policies - Investments in Real Estate - Additional Information (Details)
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995757 - Disclosure - Summary of Significant Accounting Policies - Restricted Cash - Additional Information (Details)
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995767 - Disclosure - Summary of Significant Accounting Policies - Schedule of Interest Rate Swaps Measured at Fair Value on a Recurring Basis (Details)
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995777 - Disclosure - Summary of Significant Accounting Policies - Share-Based Compensation - Additional Information (Details)
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995787 - Disclosure - Summary of Significant Accounting Policies - Segment Reporting - Additional Information (Details)
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995797 - Disclosure - Summary of Significant Accounting Policies - Schedules of Concentration of Risk, by Risk Factor (Details)
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995807 - Disclosure - Investments in Real Estate, net - Schedule of Investments in Real Estate (Details)
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995817 - Disclosure - Investments in Real Estate, net - Additional Information (Details)
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995827 - Disclosure - Investments in Real Estate, net - Schedule of Real Estate Acquisitions (Details)
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995837 - Disclosure - Investments in Real Estate, net - Schedule of Details of Purchase Price Allocation for Properties Acquired (Details)
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995847 - Disclosure - Intangible Assets, net - Identified Intangible Lease Assets (Details)
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995857 - Disclosure - Intangible Assets, net - Estimated Future Amortization of Intangible Assets (Details)
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995867 - Disclosure - Debt - Additional Information (Details)
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995877 - Disclosure - Debt - Schedule of Credit Facilities (Details)
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995887 - Disclosure - Debt - Schedule of Aggregate Amount of Maturities of Outstanding Borrowings (Details)
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995897 - Disclosure - Related Party Transactions - Due to Affiliate Schedule (Details)
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995907 - Disclosure - Related Party Transactions - Additional Information (Details)
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995917 - Disclosure - Derivative Financial Instruments - Summary of Outstanding Interest Rate Swap Agreements (Details)
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995927 - Disclosure - Derivative Financial Instruments - Schedule of Effect of Derivative Financial Instruments on the Condensed Consolidated Statements of Operations (Details)
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995937 - Disclosure - Derivative Financial Instruments (Details)
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995947 - Disclosure - Equity - Authorized Capital - Additional Information (Details)
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995957 - Disclosure - Equity - Schedule of Movement in Outstanding Shares of Common Shares (Details)
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995967 - Disclosure - Equity - Redeemable Common Stock - Additional Information (Details)
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995977 - Disclosure - Equity - Share and Unit Repurchases - Additional Information (Details)
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995987 - Disclosure - Equity -Schedule of Aggregate Net Distributions Declared for Each Applicable Class of Common Shares (Details)
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995997 - Disclosure - Equity - Redeemable Non-Controlling Interests - Additional Information (Details)
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996007 - Disclosure - Equity - Schedule of Redeemable Non-Controlling Interest (Details)
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996017 - Disclosure - Equity - Share-Based Compensation - Additional Information (Details)
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996027 - Disclosure - Other Assets and Other Liabilities - Summary of the Components of Other Assets (Details)
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996037 - Disclosure - Other Assets and Other Liabilities - Summary of the Components of Other Liabilities (Details)
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996047 - Disclosure - Leases - Summary of Operating Lease Income (Details)
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996057 - Disclosure - Leases - Schedule of Undiscounted Future Minimum Rents (Details)
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996067 - Disclosure - Commitments and Contingencies - Additional Information (Details)
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996077 - Disclosure - Earning Per Share - Schedule of Net Income/(Loss) Per Common Share (Details)
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996087 - Disclosure - Subsequent Events (Details)
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996097 - Disclosure - Subsequent Events - Schedule of Shares Issued (Details)
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996107 - Disclosure - Subsequent Events - Schedule of Shares Repurchased (Details)
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996117 - Disclosure - Schedule III - Schedule of Real Estate Investments and Accumulated Depreciation (Details)
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996127 - Disclosure - Schedule III - Rollforward of Real Estate Investments and Accumulated Depreciation (Details)
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999009 - Disclosure - Anchoring
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Payments for Repurchase of Redeemable Noncontrolling Interest
Repurchases
Repurchases
Repurchase of non-controlling interests
NEW HAMPSHIRE
New Hampshire
Line Of Credit Facility, Number Of Extension Options
Line Of Credit Facility, Number Of Extension Options
Number of extension options
Common Stock, Including Redeemable Common Stock
Common Stock, Including Redeemable Common Stock [Member]
Common Stock, Including Redeemable Common Stock
February 2025 Retail Site Acquisition
February 2025 Retail Site Acquisition [Member]
February 2025 Retail Site Acquisition
Concentration Risk Type [Axis]
Concentration Risk Type [Axis]
Schedule of Related Party Transactions [Table Text Block]
Schedule of Components of Due to Affiliate
Entity Incorporation, State or Country Code
Entity Incorporation, State or Country Code
Proceeds from issuance of redeemable common stock.
Proceeds From Issuance Of Redeemable Common Stock
Proceeds from issuance of redeemable common shares
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Non-cash investing and financing activities:
Equity [Abstract]
Equity
Entity Current Reporting Status
Entity Current Reporting Status
UTAH
Utah
Operating Expenses [Abstract]
Expenses
Schedule of Shares Repurchased [Table Text Block]
Schedule of shares repurchased.
Schedule of Shares Repurchased
Level 2
Fair Value, Inputs, Level 2 [Member]
Commitments and Contingencies Disclosure [Text Block]
Commitments and Contingencies
Various Locations Industrial Property 1
Various Locations Industrial Property 1 [Member]
Various Industrial Property 1
Tenant A
Tenant A [Member]
Tenant A
Classification of common stock Class F-I.
Common Class F-I [Member]
Class F-I
Class F-I
Finite-Lived Intangible Asset, Expected Amortization, Year Four
2029
KENTUCKY
Kentucky
Document Fiscal Period Focus
Document Fiscal Period Focus
Various Locations Industrial Property 4
Various Locations Industrial Property 4 [Member]
Various Industrial Property 4
Entity Shell Company
Entity Shell Company
Temporary Equity, Shares Outstanding
Redeemable common shares outstanding (in shares)
Dividends, Common Stock, Cash
Distributions declared on common shares
Segment Reporting, Policy [Policy Text Block]
Segment Reporting
Cash and Cash Equivalents, at Carrying Value
Cash and cash equivalents
Cash and cash equivalents
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders
Distributions
Distributions
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Text Block]
Schedule III
Cybersecurity Risk Management, Strategy, and Governance [Abstract]
Common Stock, Shares, Issued
Common shares, shares issued (in shares)
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]
Texas
TEXAS
Cybersecurity Risk Board of Directors Oversight [Text Block]
Class D-S Common Stock
Class D-S Common Stock [Member]
Class D-S
Florida Retail Site 1
Florida Retail Site 1 [Member]
Florida Retail Site 1
Statement [Table]
Statement [Table]
NEW JERSEY
New Jersey
Allocation to redeemable common shares.
Allocation To Redeemable Common Shares
Allocation to redeemable common shares
Statement [Line Items]
Statement [Line Items]
Revenue from Contract with Customer [Policy Text Block]
Rental Revenue
Entity Filer Category
Entity Filer Category
Reclassification, Comparability Adjustment [Policy Text Block]
Reclassifications
Deposits Assets
Deposits
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]
Liabilities and Equity
Total liabilities and equity
Amount of costs primarily consisting of organizational costs of the company that are charged to expense as incurred during the period.
Organizational Costs
Organizational costs
Organizational costs
Long-Term Debt, Maturity, Year Three
2028
Long-Lived Tangible Asset [Axis]
Long-Lived Tangible Asset [Axis]
PENNSYLVANIA
Pennsylvania
Investment Building and Building Improvements
Buildings and tenant improvements
Real Estate Property, Ownership [Table]
Schedule of Real Estate Properties [Table]
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]
Common Class D-X
Common Class D-X [Member]
Class D-X
Class D-X
ALABAMA
Alabama
Subsequent Event [Line Items]
Subsequent Event [Line Items]
Tenant C
Tenant C [Member]
Tenant C
Share Repurchase Program [Table]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost of Land
Land and Land Improvements
Cybersecurity Risk Management Third Party Engaged [Flag]
Documents Incorporated by Reference [Text Block]
Documents Incorporated by Reference
Other Noncash Income (Expense)
Other items
Investment Income, Interest
Interest income
Geographical [Domain]
Geographical [Domain]
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]
Restricted Cash
Print Subsidiary Loan
Print Subsidiary Loan Agreement [Member]
Print Subsidiary Loan Agreement Member.
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Percentage of servicing fees payable
Percentage Of Servicing Fees Payable
Percentage of servicing fees payable.
Debt Issuance Costs, Net
Deferred financing costs, net
Real Estate [Table]
Real Estate [Table]
Noncontrolling Interest, Change in Redemption Value
Redemption value allocation
Redemption value allocation
Allocation to redeemable non-controlling interests
Stock Issued During Period, Value, Dividend Reinvestment Plan
Distribution reinvestment
Classification of common stock that has different rights than other classes, named as Class D, representing ownership interest in a corporation.
Common Class D [Member]
Class D
Significant Accounting Policies [Text Block]
Summary of Significant Accounting Policies
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment [Line Items]
Class S
Classification of common stock that has different rights than other classes, named as Class S, representing ownership interest in a corporation.
Common Class S [Member]
Proceeds from Issuance of Secured Debt
Proceeds from secured revolving credit facility
Concentration Risk [Table]
Concentration Risk [Table]
Shares Including Redeemable Common Shares and Redeemable Noncontrolling Interest Repurchased During Period
Shares including redeemable common shares and redeemable noncontrolling interest repurchased during period.
Shares repurchased
Nonrelated Party [Member]
Nonrelated Party
MINNESOTA
Minnesota
Cybersecurity Risk Management, Strategy, and Governance [Table]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
Schedule of Earnings (Loss) Per Share
Dividends Payable
Distribution payable
Earnings Per Share, Basic
Earnings (loss) per common share - basic (in dollars per share)
Net income per common share - basic (in dollars per share)
Derivative Variable Rate Description
Derivative variable rate description.
Variable Rate Index
Stock Issued
Issuance of shares as settlement of the management fee and board of trustees compensation
Repayments of Secured Debt
Repayment of outstanding Secured Revolving Credit Facility
Revolving Credit Facility [Member]
Revolving credit facility
Secured Revolving Credit Facility
Finite-Lived Intangible Assets Acquired
In-place lease intangibles
Operating Lease, Lease Income
Rental revenue
Rental Income
Total Rental Revenue
Accrued stockholders servicing fee
Accrued Stockholders Servicing Fee
Accrued unpaid stockholders servicing fee
Repurchase of Redeemable Noncontrolling Interest
Repurchase of redeemable noncontrolling interest.
Repurchases
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Interest Expense and Realized Gain (Loss) on Derivative Instruments, Nonoperating
Interest Expense and Realized Gain (Loss) on Derivative Instruments, Nonoperating
Accrued interest income
Interest expense, net
Incentive Fee Expense
Performance participation allocation
Performance participation allocation
Asset Acquisition, Capitalized Acquisition Costs
Asset Acquisition, Capitalized Acquisition Costs
Capitalized acquisition costs
Real Estate Investment [Member]
Real Estate Investment
GEORGIA
Georgia
Land and Property Under Development
Land and Property Under Development [Member]
Land and Property Under Development
Payments of Debt Issuance Costs
Payment of deferred financing costs
Lease Commissions
Lease Commissions
Lease commissions, net
Entity Small Business
Entity Small Business
Retained Earnings (Accumulated Deficit)
Accumulated deficit
Nature of Operations [Text Block]
Organization and Business Purpose
Entity Well-known Seasoned Issuer
Entity Well-known Seasoned Issuer
Industrial Property Acquisition [Member]
Industrial property acquisition.
Industrial Property Acquisition
Proceeds from Issuance Initial Public Offering
Aggregate net proceeds from sale of common stock through initial offering
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Leases [Abstract]
Leases [Abstract]
Common Class A [Member]
Class A
Weighted Average Number of Shares Outstanding, Diluted, Adjustment
Weighted Average Number of Shares Outstanding, Diluted, Adjustment, Total
Effect of dilutive OP units (in shares)
Amendment Flag
Amendment Flag
Earnings Per Share, Policy [Policy Text Block]
Earnings Per Share
Concentration Risk [Line Items]
Concentration Risk [Line Items]
Liabilities and Equity [Abstract]
Liabilities and Equity
Entity Address, Postal Zip Code
Entity Address, Postal Zip Code
Bank of America, National Association
Bank of America National Association [Member]
Bank of America National Association.
Net Cash Provided by (Used in) Operating Activities
Net cash provided by operating activities
Subsidiary Loan 2
Subsidiary Loan Two [Member]
Subsidiary Loan Two
NORTH CAROLINA
North Carolina
Common Stock [Member]
Common Stock
Cybersecurity Risk Role of Management [Text Block]
Long-Term Debt, Maturity, Year One
2026
Line Of Credit Facility, Term Of Extension Options
Line Of Credit Facility, Term Of Extension Options
Term of each extension option
Entity Address, Address Line One
Entity Address, Address Line One
Fair Value Hierarchy and NAV [Axis]
Earnings Per Share [Abstract]
Earnings Per Share [Abstract]
Income Tax, Policy [Policy Text Block]
Income Taxes
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]
Supplemental Cash Flow Information [Abstract]
Supplemental disclosures:
Derivative Asset
Fair value of interest rate swap
Name of Property [Axis]
Name of Property [Axis]
Other Liabilities [Table Text Block]
Summary of the Components of Other Liabilities
Number of shares of common stock transferred to other class of common stock.
Common Stock Class Transfer
Class transfers (in shares)
Management Fee Expense
Management fee
Management fee
Investment Type [Axis]
Investment Type [Axis]
Other Asstes and Other Liabilities [Text Block]
Other Asstes and Other Liabilities
Other Assets and Other Liabilities
Various Locations Industrial Property 10 [Member]
Various locations industrial property 10.
Various Industrial Property 10
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
Net income attributable to non-controlling interests
Net Income (Loss) Attributable to Noncontrolling Interest
Net income attributable to non-controlling interests
Net income attributable to dilutive OP units
Land
Land
Deposits For Future Acquisition
Deposits for future acquisition.
Deposits for future acquisition.
Document Type
Document Type
Collaborative Arrangement and Arrangement Other than Collaborative [Axis]
Payable, Common Stock Redeemed
Repurchases payable
Real Estate Investment Property, Net
Investments in real estate, net
Investments in real estate, net
Collaborative Arrangement and Arrangement Other than Collaborative [Domain]
Entity Central Index Key
Entity Central Index Key
Line of Credit Facility [Table]
Line of Credit Facility [Table]
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect
Net change in cash, cash equivalents and restricted cash
Subsequent Event Type [Domain]
Subsequent Event Type [Domain]
Washington Retail Site 1
Washington Retail Site 1 [Member]
Washington Retail Site 1
Development in progress placed into service during period investment building and building improvements.
Development In Progress Placed Into Service During Period, Investment Building And Building Improvements
Construction in progress placed into service, buildings
Common Stock, Par or Stated Value Per Share
Common stock, par value (in dollars per share)
Common shares, par value (in dollars per share)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent
Other comprehensive income
Other comprehensive income
Liabilities [Abstract]
Liabilities
Stock Issued During Period Value Allocation To Redeemable Non-Controllilng Interests
Stock issued during period value allocation to redeemable non-controllilng interests.
Allocation to redeemable non-controlling interests
Increase (Decrease) in Other Operating Liabilities
Increase in other liabilities/decrease in due to affiliates
Goldman Sachs Bank USA [Member]
Goldman Sachs Bank USA.
Goldman Sachs Bank USA
WEST VIRGINIA
West Virginia
Investment Company, Economic Dependency
Investment Company, Economic Dependency [Text Block]
Economic Dependency
Document Financial Statement Error Correction [Flag]
Document Financial Statement Error Correction [Flag]
2025 Acquired Properties
2025 Acquired Properties [Member]
2025 Acquired Properties
Debt Disclosure [Abstract]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax
Change in fair value of interest rate swaps
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Total
Amount of Unrealized Gain (Loss) Recognized in OCI
Subscriptions amount
Stockholders' Equity Note, Subscriptions Receivable
Offering costs
Redeemable Noncontrolling Interest, Offering Costs
Redeemable Noncontrolling Interest, Offering Costs
Offering costs
Summary of Outstanding Interest Rate Swap Agreements
Schedule of Derivative Instruments [Table Text Block]
Repayments of Related Party Debt
Repayment of affiliate note payable
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Real Estate:
Derivative, Notional Amount
Notional Amount
Various Locations Industrial Property 8
Various Locations Industrial Property 8 [Member]
Various Industrial Property 8
Tabular disclosure of investments in real estate.
Summary of Investments in Real Estate [Table Text Block]
Schedule of Investments in Real Estate
Current Fiscal Year End Date
Current Fiscal Year End Date
Percentage of aggregate NAV outstanding
Percentage of Aggregate NAV Outstanding
Percentage of aggregate NAV outstanding.
OHIO
Ohio
A condominium is an ownership regime in buildings.
Condominium Interest [Member]
Condominium interest
Other Accrued Liabilities
Other accrued expenses and liabilities
Equity, Attributable to Noncontrolling Interest [Roll Forward]
Entity Address, State or Province
Entity Address, State or Province
March 2026 Retail Properties Acquisition
March Two Thousand Twenty Six Retail Properties Acquisition [Member]
March 2026 retail properties acquisition.
Asset Acquisition [Domain]
Asset Acquisition [Domain]
Comprehensive Income (Loss), Net of Tax, Attributable to Parent
Comprehensive income (loss) attributable to FNLR shareholders
OREGON
Oregon
Real Estate [Line Items]
Real Estate [Line Items]
Share Repurchase Plan, Net Asset Value Per Month, Maximum, Percent
Share Repurchase Plan, Net Asset Value Per Month, Maximum, Percent
Share repurchase plan, maximum aggregate net asset value per month (as a percent)
Geographical [Axis]
Geographical [Axis]
March 2025 Retail Site Acquisition
March 2025 Retail Site Acquisition [Member]
March 2025 Retail Site Acquisition
Various Locations Industrial Property 7
Various Locations Industrial Property 7 [Member]
Various Industrial Property 7
LOUISIANA
Louisiana
Other comprehensive loss (loss):
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Office Properties
Office Properties [Member]
Office Properties.
Office Properties
Subsequent Event [Member]
Subsequent Event
Various Industrial Property 13
Various Locations Industrial Property 13 [Member]
Various locations industrial property 13.
WASHINGTON
Washington
Term Secured Overnight Financing Rate (SOFR)
Term Secured Overnight Financing Rate (SOFR) [Member]
Term Secured Overnight Financing Rate (SOFR)
Management Fees Member
Management Fees.
Management Fees
AOCI Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss)
Customer [Domain]
Customer [Domain]
Finite-Lived Intangible Assets, Major Class Name [Domain]
Finite-Lived Intangible Assets, Major Class Name [Domain]
Various Locations
Various Locations [Member]
Various
Finite-Lived Intangible Asset, Expected Amortization, after Year Five
Thereafter
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Office / Headquarters Properties [Member]
Office / Headquarters properties.
Office / Headquarters Properties
Straight Line Rent
Straight line rent
Real Estate Disclosure [Text Block]
Investments in Real Estate, net
A triple net lease is a lease agreement on a property where the tenant promises to pay all expenses, including real estate taxes, building insurance, and maintenance.
Triple Net Lease Agreement [Member]
Triple Net Lease Agreement
Class S Common Stock
Class S Common Stock [Member]
Class S
Assumption of Liabiltites in Conjunction with Acquisitions of Real Estate
Assumption of liabiltites in conjunction with acquisitions of real estate.
Assumption of liabilities in conjunction with acquisitions of real estate
Minimum [Member]
Minimum
Subscriptions for trust units received in advance.
Subscriptions Received in Advance
Subscriptions received in advance
The cash outflow for capital expenditures and improvements.
Payments for Capital Expenditures and Improvements
Capital expenditures and improvements
Term Loans [Member]
Term Loans.
Term Loans
Amortization of Intangible Assets
Common Class B [Member]
Class B
Share Repurchase Program [Line Items]
Proceeds from Long-Term Lines of Credit
Borrowings under revolving credit facility
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
Schedule of Interest Rate Swaps Measured at Fair Value on a Recurring Basis
Development in Process
Construction in progress
Accrued Shareholder Service Fee
Accrued Shareholder Service Fee
Accrued shareholder servicing fee
Schedule of Shares Issued
Schedule of Shares Issued [Table Text Block]
Schedule of shares issued.
Related Party Transactions [Abstract]
Related Party Transactions [Abstract]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation
Balance at the end of the year
Balance at the beginning of year
Accumulated Depreciation
Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block]
Schedule of Undiscounted Future Minimum Rents the Company Expects to Receive
Commitments and Contingencies
Commitments and contingencies (Note 11)
MAINE
Maine
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture, Total
Aggregate number of shares issued and sold for payment of compensation expense (in shares)
Auditor Firm ID
Auditor Firm ID
Debt Instrument, Basis Spread on Variable Rate
Basis spread on variable rate (as a percent)
Redeemable Noncontrolling Interest
Redeemable Noncontrolling Interest [Member]
Redeemable Noncontrolling Interest
Land Improvements
Land improvements
Concentration Risk Benchmark [Axis]
Concentration Risk Benchmark [Axis]
Long-Term Debt, Maturity, Year Two
2027
Net income (loss)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
Net income (loss)
Net income
Asset Acquisition, Number Of Real Estate Properties Acquired
Asset Acquisition, Number Of Real Estate Properties Acquired
Number of Properties
Alabama Retail Site 1 [Member]
Alabama Retail Site 1.
Alabama Retail Site 1
Leases, Acquired-in-Place [Member]
In-place lease intangibles
Real Estate, Policy [Policy Text Block]
Investments in Real Estate
Long-Term Debt, Type [Domain]
Long-Term Debt, Type [Domain]
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
Weighted Average Number of Shares Outstanding, Basic
Weighted-average common share outstanding - basic (in share)
Weighted average common shares outstanding - basic (in shares)
Various Locations Industrial Property 9 [Member]
Various locations industrial property 9.
Various Industrial Property 9
Document Information [Line Items]
Document Information [Line Items]
Credit Facilities [Member]
Credit facilities.
Credit Facilities
Asset Acquisition, Effective Date of Acquisition
Date of Acquisition Property
Long-Lived Tangible Asset [Domain]
Long-Lived Tangible Asset [Domain]
Interest Payable
Accrued interest payable
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
Subsequent Events [Text Block]
Subsequent Events
Long-Term Debt
Total
Total Credit Facilities, net
Related Party Transactions Disclosure [Text Block]
Related Party Transactions
Amount of organizational and offering costs payable.
Organizational and Offering Costs Payable
Advanced organizational and offering costs
Organizational and offering costs payable
Variable Rate [Domain]
Variable Rate [Domain]
Equity, Attributable to Parent
Ending balance
Beginning balance
Total equity
Preferred Stock, Par or Stated Value Per Share
Preferred stock, par value (in dollars per share)
Asset Acquisition, Assets Acquired and Liabilities Assumed, Net
Asset Acquisition, Assets Acquired and Liabilities Assumed, Net
Total purchase price
Rate Of Expected Holding Period By Shareholders And Level Of Servicing Fees
Rate of expected holding period by the shareholders and level of servicing fees.
Rate of expected holding period by shareholders and level of servicing fees
Statement of Stockholders' Equity [Abstract]
Statement of Stockholders' Equity [Abstract]
Temporary Equity, Par Value
Redeemable common stock (Note 8)
Number Of Assets Acquired
Number Of Assets Acquired
Number of assets acquired
Other Liabilities Disclosure [Abstract]
Use of Estimates, Policy [Policy Text Block]
Use of Estimates
Acquisitions of real estate
Payments to Acquire Real Estate
Payments to Acquire Real Estate, Total
FIG LLC [Member]
FIG LLC.
FIG LLC
Long-Term Debt, Maturity, Year Five
2030
Incentive Fee Payable
Performance participation allocation
Leasehold interest
Leaseholds and Leasehold Improvements [Member]
Period in which organization and offering costs reimbursed to the adviser on a pro-rata basis.
Period for Reimbursement of Cost on Pro-rata Basis
Period for reimbursement of cost on pro-rata basis
March Two Thousand Twenty Six Industrial Property Acquisition [Member]
March 2026 industrial property acquisition.
March 2026 Industrial Property Acquisition
Amount of general and administrative expenses payable.
General and Administrative Expenses Payable
General and administrative expenses
Debt Instrument, Name [Domain]
Debt Instrument, Name [Domain]
Long-Term Debt, Maturity, Year Four
2029
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]
In Place Lease Intangibles [Member]
In-place lease intangibles.
In-place lease intangibles
Increase (Decrease) in Other Operating Assets
Increase in other assets
Other Affiliates [Member]
Board of Trustees
Building [Member]
Buildings
Credit Facility [Axis]
Credit Facility [Axis]
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block]
Accrued shareholder servicing fee
Accrued Shareholder Servicing Fee
Accrued shareholder servicing fee.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]
Advance Rent
Prepaid rental income
Lessor, Operating Lease, Payment to be Received, Year Two
2027
Deferred Charges, Policy [Policy Text Block]
Deferred Charges
Schedule of Line of Credit Facilities [Table Text Block]
Schedule of Aggregate Amount of Maturities of Outstanding Borrowings
Adjustments To Additional Paid In Capital, Change In Redemption Value
Adjustments To Additional Paid In Capital, Change In Redemption Value
Allocation to redeemable non-controlling interests
Classification of common stock Class F-S.
Common Class F-S [Member]
Class F-S
Related and Nonrelated Parties [Axis]
Related Party, Type [Axis]
2024 Acquired Properties
2024 Acquired Properties [Member]
2024 Acquired Properties
Area of Real Estate Property
Square Feet
Entity Address, City or Town
Entity Address, City or Town
Stock Repurchased During Period, Shares
Common shares repurchased (in shares)
Common shares repurchased (in shares)
Shares
Lessor, Operating Leases [Text Block]
Leases
Number of Reportable Segments
Number of reportable segment
Credit Facility [Domain]
Credit Facility [Domain]
Redeemable Noncontrolling Interest, Equity, Carrying Amount
Redeemable Noncontrolling Interest, Equity, Carrying Amount, Total
Balance at beginning of period
Ending balance
Redeemable non-controlling interests (Note 8)
Redeemable Common Stock, Policy
Redeemable Common Stock, Policy [Policy Text Block]
Redeemable Common Shares
Long-Term Debt, Gross
Principal Balance Outstanding
Deferred Offering Costs
Other offering costs payable
Debt, Weighted Average Interest Rate
Weighted Average Interest Rate
Intangible Assets Disclosure [Text Block]
Intangible Assets, net
Counterparty Name [Axis]
Concentration Risk Type [Domain]
Concentration Risk Type [Domain]
February 2025 Industrial Property Acquisition
February 2025 Industrial Property Acquisition [Member]
February 2025 Industrial Property Acquisition
Real Estate [Abstract]
Real Estate [Abstract]
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents
Cash, cash equivalents and restricted cash, end of period
Cash, cash equivalents and restricted cash, beginning of period
Total cash, cash equivalents and restricted cash
Interest Paid, Excluding Capitalized Interest, Operating Activities
Interest paid
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table]
Statistical Measurement [Domain]
Statistical Measurement [Domain]
Share-Based Payment Arrangement, Expense
Non-cash compensation expense
Document Period End Date
Document Period End Date
Subsidiary Loan [Member]
Subsidiary Loan
Subsidiary Loan
Fair Value Hierarchy and NAV [Domain]
ICFR Auditor Attestation Flag
ICFR Auditor Attestation Flag
Share Class Exchange
Share class exchange.
Share class exchange
Stock Redeemed or Called During Period, Value
Common stock redeemed
TENNESSEE
Tennessee
Statement of Financial Position [Abstract]
Statement of Financial Position [Abstract]
Line of Credit [Member]
Line of Credit
Related Party Transaction, Rate
Total return percentage
Number of classes of common stock shares.
Number of Classes of Shares
Number of classes of shares
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheet:
Class of Stock [Axis]
Class of Stock [Axis]
Other receivables
Other Receivables
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Liabilities
Total liabilities
Daily simple SOFR
Daily Simple Secured Overnight Financing Rate Sofr [Member]
Daily Simple Secured Overnight Financing Rate Sofr.
Accrued shareholder servicing fees, percentage
Servicing Fees Percentage
Servicing fees percentage.
Changes in accrued capital expenditures
Changes in accrued capital expenditures,
Operating Lease, Lease Income, Lease Payments
Fixed lease payments
Base rent
Derivative Instruments, Gain (Loss) [Line Items]
Restricted Cash
Restricted cash
Restricted cash
Tabular disclosure of estimated remaining useful lives of assets.
Estimated Remaining Useful Lives of Assets [Table Text Block]
Schedule of Estimated Useful Lives of Assets
New York
NEW YORK
Variable Rate [Axis]
Variable Rate [Axis]
Finite-Lived Intangible Assets, Gross
Total intangible assets
ILLINOIS
Illinois
Derivative swap asset
Derivative swap asset.
Derivative swap asset
Weighted Average Number of Shares Outstanding, Diluted
Weighted average number of common shares outstanding, diluted (in shares)
Weighted average of common shares outstanding - diluted (in shares)
Weighted average common shares outstanding - diluted (in shares)
Securities Act File Number
Entity File Number
Payments of Ordinary Dividends, Common Stock
Payment of distributions to common shareholders
Other Assets
Other assets
Total Other Assets
Derivative Instruments, Gain (Loss) [Table Text Block]
Schedule of Effect of Derivative Financial Instruments on the Condensed Consolidated Statements of Operations
Cover [Abstract]
Cover [Abstract]
Real estate investment property at cost development in progress placed into service during period.
Real Estate Investment Property, At Cost, Development In Progress Placed Into Service During Period
Construction in progress placed into service
Office Property Acquisition
Office Property Acquisition [Member]
Office property acquisition.
Stock Owned By Connection With Management Fees
Stock owned by connection with management fees
Redeemable stock owned by connection with management fees
Investments [Domain]
Investments [Domain]
The build to suit process entails all the steps necessary to select, acquire, finance, and lease a property on which the landlord/developer constructs a custom building for the tenant.
Build-to-Suit Leases [Member]
Build-to-Suit Leases
Derivative, Gain (Loss) on Derivative, Net
Derivative, Gain (Loss) on Derivative, Net, Total
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income
Derivative Instruments and Hedging Activities Disclosures [Table]
Derivative Instruments and Hedging Activities Disclosures [Table]
Revenue Benchmark [Member]
Revenue Benchmark
Number of Operating Segments
Number of operating segment
General and Administrative Expense
General and administrative
WISCONSIN
Wisconsin
Standby Letters of Credit [Member]
Standby Letters of Credit
Dividends Declared [Table Text Block]
Schedule of Aggregate Distributions Declared for Each Applicable Class of Common Shares
Subsequent Event [Table]
Subsequent Event [Table]
Derivative Assets (Liabilities), at Fair Value, Net
Derivative Assets (Liabilities), at Fair Value, Net, Total
Fair Value
Deferred Costs
Deferred Costs, Total
Deferred financing costs, net
Earnings Per Share, Diluted, by Common Class, Including Two-Class Method [Table]
Earnings Per Share, Diluted, by Common Class, Including Two-Class Method [Table]
Finite-Lived Intangible Assets, Net
Intangible assets, net
Intangible assets, net
Number of Real Estate Properties
Number of Properties
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost of Building and Improvements
Buildings
Property, Plant and Equipment, Useful Life
Depreciable Life
New Accounting Pronouncements, Policy [Policy Text Block]
Recent Accounting Pronouncements
Derivative Instruments, Gain (Loss) [Table]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, by Property [Table]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, by Property [Table]
Redeemable Non-controlling Interests Issued As Settlement Of The Management Fee And Performance Participation Allocation
Redeemable non-controlling interests issued as settlement of the management fee and performance participation allocation.
Redeemable non-controlling interests issued as settlement of the management fee and performance participation allocation
Depreciation
Depreciation, Total
Amount of amortization for asset, excluding financial asset and goodwill, lacking physical substance with finite life expected to be recognized for the next 5 years and thereafter.. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).
Finite Lived Intangible Assets Estimated Amortization Expense
Total
Common Stock, Shares, Outstanding
Ending balance (in shares)
Beginning balance (in shares)
Common shares, shares outstanding (in shares)
Depreciation, Depletion and Amortization
Depreciation and amortization
Cybersecurity Risk Management Processes Integrated [Flag]
Document Transition Report
Document Transition Report
Operating Expenses
Total expenses
Payments for Repurchase of Common Stock
Repurchase of common shares
Comprehensive income (loss)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest
Dividend reinvestment.
Dividend Reinvestment
Distribution reinvestment
Unrealized Gain (Loss) on Derivatives
Change in fair value of interest rate swap
Statement of Cash Flows [Abstract]
Statement of Cash Flows [Abstract]
Classification of common stock that has different rights than other classes, named as Class E, representing ownership interest in a corporation.
Common Class E [Member]
Class E
Class E Shares [Member]
WYOMING
Stock Issued During Period, Value, New Issues
Common shares issued
Payments For Asset Acquisitions
Payments For Asset Acquisitions
Acquisitions of real estate
Payments for acquisitions
Purchase Price
Derivative Asset, Statement of Financial Position [Extensible Enumeration]
Derivative Asset, Statement of Financial Position [Extensible Enumeration]
Interest Rate Swap [Member]
Interest Rate Swap
Equity [Text Block]
Equity
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets [Line Items]
Earnings Per Share [Text Block]
Earnings Per Share
Cybersecurity Risk Management Processes Integrated [Text Block]
Net income (loss) attributable to FNLR shareholders
Net income attributable to FNLR shareholders
Pennsylvania Industrial Property 1
Pennsylvania Industrial Property 1 [Member]
Pennsylvania Industrial Property 1
Various Locations Industrial Property 2
Various Locations Industrial Property 2 [Member]
Various Industrial Property 2
MISSOURI
Missouri
Missouri
The amount of cash received in advance from shares subscription.
Proceeds in Advance from Shares Subscription
Subscriptions received in advance
Straight-line rent receivable
Straight-Line Rent Receivable
Straight-line rent receivable
Proceeds from Term Loan Facility
Proceeds from term loan facility.
Proceeds from term loan facility
Alabama Retail Site 2 [Member]
Alabama Retail Site 2.
Alabama Retail Site 2
Subsidiary Loan One [Member]
Subsidiary Loan One
Subsidiary Loan 1
Gross Rentable Area
Gross Rentable Area
Gross leasable area (in square feet)
Line of Credit Facility [Line Items]
Line of Credit Facility [Line Items]
Payment of distributions to non-controlling interests
Payments of Ordinary Dividends, Noncontrolling Interest
Assets [Abstract]
Assets
Construction in Progress [Member]
Construction in progress
Name of Property [Domain]
Name of Property [Domain]
Non-Rule 10b-51 Arr Modified Flag
Non-Rule 10b-51 Arr modified flag.
Non-Rule 10b5-1 Arrangement Modified
Long-Term Debt, Fiscal Year Maturity [Abstract]
Document Fiscal Year Focus
Document Fiscal Year Focus
Real Estate Investment Property, Accumulated Depreciation
Accumulated depreciation
Concentration Risk Benchmark [Domain]
Concentration Risk Benchmark [Domain]
Net Cash Provided by (Used in) Investing Activities [Abstract]
Cash flows from investing activities:
Florida Retail Site 2
Florida Retail Site 2 [Member]
Florida Retail Site 2
Lessor, Operating Lease, Payment to be Received, Year One
2026
Maturity Date
Derivative, Contract End Date
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block]
Redeemable Non-Controlling Interests
Arizona
ARIZONA
Payment for Incentive Fee
Performance participation allocation fees
Classification of common stock Class F-D.
Common Class F-D [Member]
Class F-D
Finite-Lived Intangible Asset, Expected Amortization, Year One
2026
Real Estate Investment Property, at Cost
Total
Various Locations Industrial Property 5
Various Locations Industrial Property 5 [Member]
Various Industrial Property 5
Percentage Borrowing Base Advance Rate
Percentage borrowing base advance rate
Percentage borrowing base advance rate
Fair Value Measurement, Policy [Policy Text Block]
Fair Value Measurement
Other Liabilities
Reclassification to other liabilities
Due to affiliate
Total Other Liabilities
Summary of the Components of Other Assets
Schedule of Other Assets [Table Text Block]
Washington Retail Site 2
Washington Retail Site 2 [Member]
Washington Retail Site 2
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Abstract]
Prepaid Expense
Deposit for future acquisition
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost [Abstract]
Initial Cost
Real Estate Properties [Line Items]
Real Estate Properties [Line Items]
Repayments of Long-Term Lines of Credit
Repayment of revolving credit facility
FLORIDA
Florida
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest, Total
Net income
Net income allocated to redeemable NCI
Long-Term Line of Credit
Debt
Debt Instrument [Axis]
Debt Instrument [Axis]
Derivative Instrument [Axis]
Derivative Instrument [Axis]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross [Abstract]
Gross Amounts at which Carried at the Close of Period
Derivatives, Policy [Policy Text Block]
Derivatives and Hedging Activities
Concentration Risk, Percentage
Percentage of Total Rental Income
Various Locations Industrial Property 12 [Member]
Various locations industrial property 12.
Various Industrial Property 12
Revenues
Total revenue
Net Cash Provided by (Used in) Investing Activities
Net cash used in investing activities
Temporary Equity, Shares Redeemed
Temporary equity, shares redeemed
Redeemable common shares redeemed (in shares)
Property, Plant and Equipment, Additions
Property, plant and equipment acquired
Property, plant and equipment, additions
Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Fed Funds Effective Rate Overnight Index Swap Rate
Stock Issued During Period, Value, Conversion of Units
Share class exchange
Derivative Instruments and Hedging Activities Disclosure [Text Block]
Derivative Financial Instruments
Allocation Fees
Allocation Fees Member
Allocation Fees Member
Related and Nonrelated Parties [Domain]
Related Party, Type [Domain]
Long-Term Debt, Maturity, after Year Five
Thereafter
The term to commence with depreciation after substantial completion of the project, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.
Term to Commence Depreciation after Substantial Completion of Project
Term to commence depreciation after substantial completion of project
Temporary Equity, Shares Issued
Redeemable common shares issued (in shares)
Lessor, Operating Lease, Payment to be Received
Total
Document Information [Table]
Document Information [Table]
Increase (Decrease) in Operating Capital [Abstract]
Changes in assets and liabilities:
Lessor, Operating Lease, Payment to be Received, Year Four
2029
Additional Paid-in Capital [Member]
Additional Paid-in Capital
Redeemable Noncontrolling Interest, Settlement of Prior Performance Allocation and Management Fees
Redeemable Noncontrolling Interest, Settlement of Prior Performance Allocation and Management Fees
Settlement of prior performance participation allocation and management fee
Stock Issued During Period, Value, Issued for Services
Value of stock issued during period
Measurement Frequency [Domain]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Building and Improvements
Buildings
Intangible Asset, Finite-Lived [Table]
Schedule of Finite-Lived Intangible Assets [Table]
Related Party Transaction [Table]
Schedule of Related Party Transactions, by Related Party [Table]
Subsequent Event Type [Axis]
Subsequent Event Type [Axis]
Lessor, Operating Lease, Payment to be Received, Year Five
2030
Kentucky Retail Site 2 [Member]
Kentucky retail site 2.
Kentucky Retail Site 2
Schedule of Finite-Lived Intangible Assets [Table Text Block]
Schedule of Identified Intangible Lease Assets
Net Cash Provided by (Used in) Financing Activities [Abstract]
Cash flows from financing activities:
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage
Unused commitment fee percentage
Aggregate purchase price
Related Party Transaction, Purchases from Related Party
Various Locations Industrial Property 11 [Member]
Various locations industrial property 11.
Various Industrial Property 11
Fair Value, Recurring [Member]
Fair Value Recurring
Entity Ex Transition Period
Entity Ex Transition Period
Classification of common stock that has different rights than other classes, named as Class I, representing ownership interest in a corporation.
Common Class I [Member]
Class I
Class I Shares [Member]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Accumulated Depreciation:
FNLR OP LP
FNLR OP LP Member
FNLR OP LP.
Equity Components [Axis]
Equity Components [Axis]
Accounts Payable
Accounts payable
Nonoperating Income (Expense)
Total other income (expense)
Equity Component [Domain]
Equity Component [Domain]
Various Locations Industrial Property 3
Various Locations Industrial Property 3 [Member]
Various Industrial Property 3
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Abstract]
Document Annual Report
Document Annual Report
MICHIGAN
Michigan
Property Under Development
Property Under Development [Member]
Property Under Development
Customer [Axis]
Customer [Axis]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
IDAHO
Classification of common stock Class F-I X.
Common Class F-I X [Member]
Class F-I X
Depreciation, Depletion and Amortization, Nonproduction
Depreciation and amortization
Building and Building Improvements [Member]
Buildings and building improvements
Statement of Comprehensive Income [Abstract]
Other Assets [Abstract]
The amount of offering costs due to affiliate in a noncash or partial noncash transaction.
Offering Costs Due to Affiliate
Offering costs due to affiliate
Maximum [Member]
Maximum
Statistical Measurement [Axis]
Statistical Measurement [Axis]
Credit Facility
Credit Facility [Member]
Credit Facility
Finite-Lived Intangible Assets, Accumulated Amortization
Accumulated amortization
Class Of Stock Rollforward
Class Of Stock Rollforward [Roll Forward]
Common Stock Roll Forward
Common Stock, Value, Issued
Common shares
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest, Total
Other comprehensive loss
Other comprehensive loss allocated to redeemable NCI
Derivative, Fixed Interest Rate
Fixed Rate
Net Income (Loss) Available to Common Stockholders, Diluted
Net Income (Loss) Available to Common Stockholders, Diluted, Total
Net income attributable to FNLR shareholders - dilutive
Percentage of management fee of net asset value.
Management Fee Percentage Of Net Asset Value
Management fee percentage on net asset value
Consolidation, Policy [Policy Text Block]
Principles of Consolidation and Basis of Presentation
Secured Overnight Financing Rate (SOFR) [Member]
Secured Overnight Financing Rate (SOFR)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross
Balance at the end of the year
Balance at beginning of year
Total
Lessor, Operating Lease, Payment to be Received, after Year Five
Thereafter
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Share Repurchase Plan, Net Asset Value Quarter, Maximum, Percent
Share Repurchase Plan, Net Asset Value Quarter, Maximum, Percent
Share repurchase plan, maximum aggregate net asset value per quarter (as a percent)
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]
Schedule of Future Amortization of Intangible Lease Assets
Represents tenant improvements in investment in real estate.
Tenant Improvements [Member]
Tenant improvements
Entity Public Float
Comprehensive income attributable to non-controlling interests
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest, Total
Finite-Lived Intangible Assets by Major Class [Axis]
Finite-Lived Intangible Assets by Major Class [Axis]
Schedule of Debt [Table Text Block]
Schedule of Credit Facilities
France
FRANCE
Asset Acquisition, Other Assets
Asset Acquisition, Other Assets
Other assets
Related Party Transaction [Line Items]
Related Party Transaction [Line Items]
Entity Registrant Name
Entity Registrant Name
Debt Disclosure [Text Block]
Debt
Class F-D Common Stock
Class F-D Common Stock [Member]
Class F-D
Entity Voluntary Filers
Entity Voluntary Filers
Customer Concentration Risk [Member]
Customer Concentration Risk
Finite-Lived Intangible Asset, Expected Amortization, Year Two
2027
The value of commitments outstanding on properties under development.
Outstanding Commitments on Properties Under Development
Outstanding commitments on properties under development
Additional Paid in Capital
Additional paid-in capital
Subsequent Events [Abstract]
Subsequent Events [Abstract]
Cybersecurity Risk Management Positions or Committees Responsible [Flag]
2023 Acquired Properties
2023 Acquired Properties [Member]
2023 Acquired Properties
Finite-Lived Intangible Asset, Expected Amortization, Year Three
2028
Measurement Frequency [Axis]
Payments to Acquire Productive Assets
Company Acquired Property
Stock Repurchased During Period, Value
Common shares repurchased
Amount
Common shares repurchased
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount
Buildings
Term Loan Credit Facility
Term Loan Credit Facility [Member]
Term loan credit facility.
Proceeds from Issuance of Common Stock
Gross Proceeds
Proceeds from issuance of common shares
Investment Company [Abstract]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Performance participation period which is waived by the special limited partners.
Special Limited Partner Performance Participation Waived Period
Special limited partner performance participation waived period
Entity Common Stock, Shares Outstanding
Entity Common Stock, Shares Outstanding
Concentration Risk, Credit Risk, Policy [Policy Text Block]
Concentration of Credit Risk
Various Locations Industrial Property 6
Various Locations Industrial Property 6 [Member]
Various Industrial Property 6
Accumulated Other Comprehensive Income (Loss), Net of Tax
Accumulated other comprehensive income (loss)
Limited Partner [Member]
Limited Partner
Payments to Acquire Commercial Real Estate
Company Acquired Retail Property
Assets
Total assets
Redeemable common shares repurchased (in shares)
Temporary Equity Shares Repurchased
Temporary equity shares repurchased.
Property, Plant and Equipment [Table]
Property, Plant and Equipment [Table]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation, Period Increase (Decrease)
Accumulated depreciation
Income Statement [Abstract]
Income Statement [Abstract]
Property
Property [Member]
Property.
Share-Based Payment Arrangement [Policy Text Block]
Share-Based Compensation
Stock Issued During Period, Shares, New Issues
Shares
Common shares issued (in shares)
Earnings Per Share, Diluted
Earnings (loss) per common share- diluted (in dollars per share)
Net income per common share - diluted (in dollars per share)
Land and Land Improvements [Member]
Land and land improvements
Finite-Lived Intangible Asset, Expected Amortization, Year Five
2030
Common Class D-S
Common Class D-S [Member]
Class D-S
One-month SOFR
One-Month Secured Overnight Financing Rate Sofr [Member]
One-Month Secured Overnight Financing Rate Sofr.
Title of 12(g) Security
Title of 12(g) Security
Summary of the Components of Other Assets
Other Assets and Othe Liabilities [Abstract]
Other Assets and Othe Liabilities
Asset Acquisition [Axis]
Asset Acquisition [Axis]
Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration]
City Area Code
City Area Code
Goldman Sachs Bank USA ONE [Member]
Goldman Sachs Bank USA 1
Goldman Sachs Bank USA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Land
Land and Land Improvements
Other comprehensive income (loss)
Other Comprehensive Income (Loss), Net of Tax
Kentucky Retail Site 1 [Member]
Kentucky Retail Site 1 [Member]
Kentucky Retail Site 1
Auditor Name
Auditor Name
Debt Instrument, Face Amount
Aggregate principal amount
SOUTH CAROLINA
South Carolina
Line of Credit Facility, Maximum Borrowing Capacity
Maximum Facility Size
Maximum facility size
Counterparty Name [Domain]
Year Founded
Year Acquired
Real Estate [Domain]
Real Estate [Domain]
Land Improvements [Member]
Land improvements
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Land, Amount
Land and Land Improvements
Letter of Credit [Member]
Letter of Credit
Cash and Cash Equivalents, Policy [Policy Text Block]
Cash and Cash Equivalents
February Two Thousand Twenty Six Retail Property Acquisition [Member]
February two thousand twenty six retail property acquisition.
Retail Property Acquisitions
Rule 10b-51 Arr Modified Flag
Rule 10b5-1 Arr modified flag.
Rule 10b5-1 Arrangement Modified
The amount of distributions declared but not yet paid.
Distributions Declared but Not yet Paid
Accrued distributions
Accumulated Deficit
Retained Earnings [Member]
Common Class C [Member]
Class C
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition [Abstract]
Costs Capitalized Subsequent to Acquisition
Payments of Stock Issuance Costs
Offering costs paid
Class of Stock [Line Items]
Class of Stock [Line Items]
Net Cash Provided by (Used in) Financing Activities
Net cash provided by financing activities
Asset Acquisition [Table Text Block]
Schedule of Details of Purchase Price Allocation for Properties Acquired
Lessor, Operating Lease, Payment to be Received, Year Three
2028
Auditor Location
Auditor Location
Industrial Property [Member]
Industrial Properties
Management Fee Payable
Accrued management fee
Secured Debt [Member]
Term loan, net
Total secured Revolving Credit Facility
Term Loan Facility
Derivative swap liability
Derivative swap liability.
Derivative swap liability
Missouri Industrial Property 2
Missouri Industrial Property 2 [Member]
Missouri Industrial Property 2.
Nonoperating Income (Expense) [Abstract]
Other income (expense)
Derivative Contract [Domain]
Derivative Contract [Domain]
Schedule of Real Estate Properties [Table Text Block]
Schedule of Real Estate Acquisitions
Tenant B
Tenant B [Member]
Tenant B
Entity Interactive Data Current
Entity Interactive Data Current
Repurchases payable
Repurchases Payable
Repurchases payable
Operating Lease, Lease Income [Table Text Block]
Schedule of Components of Operating Lease Income from Leases
Net Cash Provided by (Used in) Operating Activities [Abstract]
Cash flows from operating activities:
Proceeds from Related Party Debt
Proceeds from affiliate note payable
Real Estate, Type of Property [Axis]
Real Estate, Type of Property [Axis]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Common Stock, Dividends, Per Share, Declared
Aggregate net distributions declared per share (in dollars per share)
Distributions declared on common shares (in dollars per share)
Stock Issued During Period, Shares, Issued for Services
Shares issued during period (in shares)
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]
Schedule of Concentration Risk
Current capacity for facility
Line of Credit Facility, Current Borrowing Capacity
Class I Common Stock
Class I Common Stock [Member]
Class I
Entity Tax Identification Number
Entity Tax Identification Number
Common Class B-X
Common Class B-X [Member]
Class B-X
Revenues [Abstract]
Revenue
Land [Member]
Land
Schedule of Common Stock Outstanding Roll Forward [Table Text Block]
Schedule of Movement of Outstanding Shares of Common Shares
Long-Term Debt, Type [Axis]
Long-Term Debt, Type [Axis]
Pennsylvania Industrial Property 2
Pennsylvania Industrial Property 2 [Member]
Pennsylvania Industrial Property 2
Straight Line Rent Adjustments
Straight-line rent adjustment
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Building And Leasehold Improvements
Building And Leasehold Improvements [Member]
Buildings and tenant improvements
Schedule of Redeemable Non-controlling Interest
Redeemable Noncontrolling Interest [Table Text Block]
Adjustments to Additional Paid in Capital, Increase in Carrying Amount of Redeemable Preferred Stock
Allocation to redeemable common shares
Local Phone Number
Local Phone Number
Management [Member]
Management
March 2025 Land Acquisition
March 2025 Land Acquisition [Member]
March 2025 Land Acquisition
Stock Issued During Period Value Allocation To Redeemable Common Shares
Stock issued during period value allocation to redeemable common shares.
Allocation to redeemable common shares
Retail Site [Member]
Retail Properties
Auditor Opinion
Auditor Opinion [Text Block]
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs
Offering costs
Accounting Policies [Abstract]
Accounting Policies [Abstract]
Stock Issued During Period, Shares, Dividend Reinvestment Plan
Distribution reinvestment (in shares)
Redeemable Common Stock
Redeemable Common Stock [Member]
Redeemable Common Stock
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Improvements
Additions during the year
CONNECTICUT
Connecticut
Class of Stock [Domain]
Class of Stock [Domain]
Development in progress placed into service during period land improvements.
Development In Progress Placed Into Service During Period, Land Improvements
Construction in progress placed into service, land improvements
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances
Encumbrances
Affiliated Entity [Member]
Affiliated Entity
Stock, Class of Stock [Table]
Schedule of Stock by Class [Table]
Entity Emerging Growth Company
Entity Emerging Growth Company
Building And Tenant Improvements [Member]
Building And Tenant Improvements.
Building and tenant improvements