3.26.1 html 364 351 1 false 152 0 false 10 false false R1.htm 995200090 - Document - Document and Entity Information Sheet http://newlease.com/role/DocumentDocumentAndEntityInformation Document and Entity Information Cover 1 false false R2.htm 995200100 - Statement - Consolidated Balance Sheets Sheet http://newlease.com/role/StatementConsolidatedBalanceSheets Consolidated Balance Sheets Statements 2 false false R3.htm 995200105 - Statement - Consolidated Balance Sheets (Parenthetical) Sheet http://newlease.com/role/StatementConsolidatedBalanceSheetsParenthetical Consolidated Balance Sheets (Parenthetical) Statements 3 false false R4.htm 995200200 - Statement - Consolidated Statements of Operations Sheet http://newlease.com/role/StatementConsolidatedStatementsOfOperations Consolidated Statements of Operations Statements 4 false false R5.htm 995200300 - Statement - Consolidated Statements of Changes in Equity Sheet http://newlease.com/role/StatementConsolidatedStatementsOfChangesInEquity Consolidated Statements of Changes in Equity Statements 5 false false R6.htm 995200305 - Statement - Consolidated Statements of Changes in Equity (Parenthetical) Sheet http://newlease.com/role/StatementConsolidatedStatementsOfChangesInEquityParenthetical Consolidated Statements of Changes in Equity (Parenthetical) Statements 6 false false R7.htm 995200400 - Statement - Consolidated Statements of Cash Flows Sheet http://newlease.com/role/StatementConsolidatedStatementsOfCashFlows Consolidated Statements of Cash Flows Statements 7 false false R8.htm 995200405 - Statement - Consolidated Statements of Cash Flows (Parenthetical) Sheet http://newlease.com/role/StatementConsolidatedStatementsOfCashFlowsParenthetical Consolidated Statements of Cash Flows (Parenthetical) Statements 8 false false R9.htm 995210101 - Disclosure - Organization and Business Purpose Sheet http://newlease.com/role/DisclosureOrganizationAndBusinessPurpose Organization and Business Purpose Notes 9 false false R10.htm 995210201 - Disclosure - Summary of Significant Accounting Policies Sheet http://newlease.com/role/DisclosureSummaryOfSignificantAccountingPolicies Summary of Significant Accounting Policies Notes 10 false false R11.htm 995210301 - Disclosure - Investments in Real Estate, Net Sheet http://newlease.com/role/DisclosureInvestmentsInRealEstateNet Investments in Real Estate, Net Notes 11 false false R12.htm 995210401 - Disclosure - Intangible Assets and Liabilities Sheet http://newlease.com/role/DisclosureIntangibleAssetsAndLiabilities Intangible Assets and Liabilities Notes 12 false false R13.htm 995210501 - Disclosure - Other Assets Sheet http://newlease.com/role/DisclosureOtherAssets Other Assets Notes 13 false false R14.htm 995210601 - Disclosure - Variable Interest Entities Sheet http://newlease.com/role/DisclosureVariableInterestEntities Variable Interest Entities Notes 14 false false R15.htm 995210701 - Disclosure - Fair Value Measurements Sheet http://newlease.com/role/DisclosureFairValueMeasurements Fair Value Measurements Notes 15 false false R16.htm 995210801 - Disclosure - Debt Sheet http://newlease.com/role/DisclosureDebt Debt Notes 16 false false R17.htm 995210901 - Disclosure - Derivative Contracts Sheet http://newlease.com/role/DisclosureDerivativeContracts Derivative Contracts Notes 17 false false R18.htm 995211001 - Disclosure - Leases Sheet http://newlease.com/role/DisclosureLeases Leases Notes 18 false false R19.htm 995211101 - Disclosure - Income Taxes Sheet http://newlease.com/role/DisclosureIncomeTaxes Income Taxes Notes 19 false false R20.htm 995211201 - Disclosure - Redeemable Non-Controlling Interests Sheet http://newlease.com/role/DisclosureRedeemableNonControllingInterests Redeemable Non-Controlling Interests Notes 20 false false R21.htm 995211301 - Disclosure - Related and Affiliated Party Transactions Sheet http://newlease.com/role/DisclosureRelatedAndAffiliatedPartyTransactions Related and Affiliated Party Transactions Notes 21 false false R22.htm 995211401 - Disclosure - Equity and Noncontrolling Interests Sheet http://newlease.com/role/DisclosureEquityAndNoncontrollingInterests Equity and Noncontrolling Interests Notes 22 false false R23.htm 995211501 - Disclosure - Earnings Per Share Sheet http://newlease.com/role/DisclosureEarningsPerShare Earnings Per Share Notes 23 false false R24.htm 995211601 - Disclosure - Commitments and Contingencies Sheet http://newlease.com/role/DisclosureCommitmentsAndContingencies Commitments and Contingencies Notes 24 false false R25.htm 995211701 - Disclosure - Subsequent Events Sheet http://newlease.com/role/DisclosureSubsequentEvents Subsequent Events Notes 25 false false R26.htm 995211801 - Disclosure - Schedule III - Real Estate and Accumulated Depreciation Sheet http://newlease.com/role/DisclosureScheduleIiiRealEstateAndAccumulatedDepreciation Schedule III - Real Estate and Accumulated Depreciation Notes 26 false false R27.htm 995410 - Disclosure - Pay vs Performance Disclosure Sheet http://xbrl.sec.gov/ecd/role/PvpDisclosure Pay vs Performance Disclosure Notes 27 false false R28.htm 995445 - Disclosure - Insider Trading Arrangements Sheet http://xbrl.sec.gov/ecd/role/InsiderTradingArrangements Insider Trading Arrangements Notes 28 false false R29.htm 995447 - Disclosure - Insider Trading Policies and Procedures Sheet http://xbrl.sec.gov/ecd/role/InsiderTradingPoliciesProc Insider Trading Policies and Procedures Notes 29 false false R30.htm 995550 - Disclosure - Cybersecurity Risk Management and Strategy Disclosure Sheet http://xbrl.sec.gov/cyd/role/CybersecurityRiskManagementAndStrategyDisclosure Cybersecurity Risk Management and Strategy Disclosure Notes 30 false false R31.htm 99920202 - Disclosure - Summary of Significant Accounting Policies (Policies) Sheet http://newlease.com/role/DisclosureSummaryOfSignificantAccountingPoliciesPolicies Summary of Significant Accounting Policies (Policies) Policies http://newlease.com/role/DisclosureSummaryOfSignificantAccountingPolicies 31 false false R32.htm 99930203 - Disclosure - Summary of Significant Accounting Policies (Tables) Sheet http://newlease.com/role/DisclosureSummaryOfSignificantAccountingPoliciesTables Summary of Significant Accounting Policies (Tables) Tables http://newlease.com/role/DisclosureSummaryOfSignificantAccountingPolicies 32 false false R33.htm 99930303 - Disclosure - Investments in Real Estate, Net (Tables) Sheet http://newlease.com/role/DisclosureInvestmentsInRealEstateNetTables Investments in Real Estate, Net (Tables) Tables http://newlease.com/role/DisclosureInvestmentsInRealEstateNet 33 false false R34.htm 99930403 - Disclosure - Intangible Assets and Liabilities (Tables) Sheet http://newlease.com/role/DisclosureIntangibleAssetsAndLiabilitiesTables Intangible Assets and Liabilities (Tables) Tables http://newlease.com/role/DisclosureIntangibleAssetsAndLiabilities 34 false false R35.htm 99930503 - Disclosure - Other Assets (Tables) Sheet http://newlease.com/role/DisclosureOtherAssetsTables Other Assets (Tables) Tables http://newlease.com/role/DisclosureOtherAssets 35 false false R36.htm 99930603 - Disclosure - Variable Interest Entities (Tables) Sheet http://newlease.com/role/DisclosureVariableInterestEntitiesTables Variable Interest Entities (Tables) Tables http://newlease.com/role/DisclosureVariableInterestEntities 36 false false R37.htm 99930703 - Disclosure - Fair Value Measurements (Tables) Sheet http://newlease.com/role/DisclosureFairValueMeasurementsTables Fair Value Measurements (Tables) Tables http://newlease.com/role/DisclosureFairValueMeasurements 37 false false R38.htm 99930803 - Disclosure - Debt (Tables) Sheet http://newlease.com/role/DisclosureDebtTables Debt (Tables) Tables http://newlease.com/role/DisclosureDebt 38 false false R39.htm 99930903 - Disclosure - Derivative Contracts (Tables) Sheet http://newlease.com/role/DisclosureDerivativeContractsTables Derivative Contracts (Tables) Tables http://newlease.com/role/DisclosureDerivativeContracts 39 false false R40.htm 99931003 - Disclosure - Leases (Tables) Sheet http://newlease.com/role/DisclosureLeasesTables Leases (Tables) Tables http://newlease.com/role/DisclosureLeases 40 false false R41.htm 99931203 - Disclosure - Redeemable Non-Controlling Interests (Tables) Sheet http://newlease.com/role/DisclosureRedeemableNonControllingInterestsTables Redeemable Non-Controlling Interests (Tables) Tables http://newlease.com/role/DisclosureRedeemableNonControllingInterests 41 false false R42.htm 99931303 - Disclosure - Related and Affiliated Party Transactions (Tables) Sheet http://newlease.com/role/DisclosureRelatedAndAffiliatedPartyTransactionsTables Related and Affiliated Party Transactions (Tables) Tables http://newlease.com/role/DisclosureRelatedAndAffiliatedPartyTransactions 42 false false R43.htm 99931403 - Disclosure - Equity and Noncontrolling Interests (Tables) Sheet http://newlease.com/role/DisclosureEquityAndNoncontrollingInterestsTables Equity and Noncontrolling Interests (Tables) Tables http://newlease.com/role/DisclosureEquityAndNoncontrollingInterests 43 false false R44.htm 99931503 - Disclosure - Earnings Per Share (Tables) Sheet http://newlease.com/role/DisclosureEarningsPerShareTables Earnings Per Share (Tables) Tables http://newlease.com/role/DisclosureEarningsPerShare 44 false false R45.htm 99931703 - Disclosure - Subsequent Events (Tables) Sheet http://newlease.com/role/DisclosureSubsequentEventsTables Subsequent Events (Tables) Tables http://newlease.com/role/DisclosureSubsequentEvents 45 false false R46.htm 99940101 - Disclosure - Organization and Business Purpose (Details) Sheet http://newlease.com/role/DisclosureOrganizationAndBusinessPurposeDetails Organization and Business Purpose (Details) Details http://newlease.com/role/DisclosureOrganizationAndBusinessPurpose 46 false false R47.htm 99940201 - Disclosure - Summary of Significant Accounting Policies - Basis of Presentation (Details) Sheet http://newlease.com/role/DisclosureSummaryOfSignificantAccountingPoliciesBasisOfPresentationDetails Summary of Significant Accounting Policies - Basis of Presentation (Details) Details 47 false false R48.htm 99940202 - Disclosure - Summary of Significant Accounting Policies - Investment in Real Estate (Details) Sheet http://newlease.com/role/DisclosureSummaryOfSignificantAccountingPoliciesInvestmentInRealEstateDetails Summary of Significant Accounting Policies - Investment in Real Estate (Details) Details 48 false false R49.htm 99940203 - Disclosure - Summary of Significant Accounting Policies - Real Estate Held for Sale and Discontinued Operations (Details) Sheet http://newlease.com/role/DisclosureSummaryOfSignificantAccountingPoliciesRealEstateHeldForSaleAndDiscontinuedOperationsDetails Summary of Significant Accounting Policies - Real Estate Held for Sale and Discontinued Operations (Details) Details 49 false false R50.htm 99940204 - Disclosure - Summary of Significant Accounting Policies - Restricted Cash (Details) Sheet http://newlease.com/role/DisclosureSummaryOfSignificantAccountingPoliciesRestrictedCashDetails Summary of Significant Accounting Policies - Restricted Cash (Details) Details 50 false false R51.htm 99940205 - Disclosure - Summary of Significant Accounting Policies - Revenue Recognition and Accounts Receivable (Details) Sheet http://newlease.com/role/DisclosureSummaryOfSignificantAccountingPoliciesRevenueRecognitionAndAccountsReceivableDetails Summary of Significant Accounting Policies - Revenue Recognition and Accounts Receivable (Details) Details 51 false false R52.htm 99940206 - Disclosure - Summary of Significant Accounting Policies - Deferred Financing Costs (Details) Sheet http://newlease.com/role/DisclosureSummaryOfSignificantAccountingPoliciesDeferredFinancingCostsDetails Summary of Significant Accounting Policies - Deferred Financing Costs (Details) Details 52 false false R53.htm 99940207 - Disclosure - Summary of Significant Accounting Policies - Earnings Per Share (Details) Sheet http://newlease.com/role/DisclosureSummaryOfSignificantAccountingPoliciesEarningsPerShareDetails Summary of Significant Accounting Policies - Earnings Per Share (Details) Details 53 false false R54.htm 99940208 - Disclosure - Summary of Significant Accounting Policies - Segment Information (Details) Sheet http://newlease.com/role/DisclosureSummaryOfSignificantAccountingPoliciesSegmentInformationDetails Summary of Significant Accounting Policies - Segment Information (Details) Details 54 false false R55.htm 99940209 - Disclosure - Summary of Significant Accounting Policies - Income Taxes (Details) Sheet http://newlease.com/role/DisclosureSummaryOfSignificantAccountingPoliciesIncomeTaxesDetails Summary of Significant Accounting Policies - Income Taxes (Details) Details 55 false false R56.htm 99940301 - Disclosure - Investments in Real Estate, Net - Real estate activity (Details) Sheet http://newlease.com/role/DisclosureInvestmentsInRealEstateNetRealEstateActivityDetails Investments in Real Estate, Net - Real estate activity (Details) Details 56 false false R57.htm 99940302 - Disclosure - Investments in Real Estate, Net (Details) Sheet http://newlease.com/role/DisclosureInvestmentsInRealEstateNetDetails Investments in Real Estate, Net (Details) Details http://newlease.com/role/DisclosureInvestmentsInRealEstateNetTables 57 false false R58.htm 99940303 - Disclosure - Investments in Real Estate, Net - Acquisitions (Details) Sheet http://newlease.com/role/DisclosureInvestmentsInRealEstateNetAcquisitionsDetails Investments in Real Estate, Net - Acquisitions (Details) Details 58 false false R59.htm 99940304 - Disclosure - Investments in Real Estate, Net - Dispositions (Details) Sheet http://newlease.com/role/DisclosureInvestmentsInRealEstateNetDispositionsDetails Investments in Real Estate, Net - Dispositions (Details) Details 59 false false R60.htm 99940401 - Disclosure - Intangible Assets and Liabilities (Details) Sheet http://newlease.com/role/DisclosureIntangibleAssetsAndLiabilitiesDetails Intangible Assets and Liabilities (Details) Details http://newlease.com/role/DisclosureIntangibleAssetsAndLiabilitiesTables 60 false false R61.htm 99940402 - Disclosure - Intangible Assets and Liabilities - Estimated future amortization (Details) Sheet http://newlease.com/role/DisclosureIntangibleAssetsAndLiabilitiesEstimatedFutureAmortizationDetails Intangible Assets and Liabilities - Estimated future amortization (Details) Details 61 false false R62.htm 99940403 - Disclosure - Intangible Assets and Liabilities - Amortization expense (Details) Sheet http://newlease.com/role/DisclosureIntangibleAssetsAndLiabilitiesAmortizationExpenseDetails Intangible Assets and Liabilities - Amortization expense (Details) Details 62 false false R63.htm 99940501 - Disclosure - Other Assets (Details) Sheet http://newlease.com/role/DisclosureOtherAssetsDetails Other Assets (Details) Details http://newlease.com/role/DisclosureOtherAssetsTables 63 false false R64.htm 99940601 - Disclosure - Variable Interest Entities (Details) Sheet http://newlease.com/role/DisclosureVariableInterestEntitiesDetails Variable Interest Entities (Details) Details http://newlease.com/role/DisclosureVariableInterestEntitiesTables 64 false false R65.htm 99940701 - Disclosure - Fair Value Measurements - Assets measured at fair value on recurring basis (Details) Sheet http://newlease.com/role/DisclosureFairValueMeasurementsAssetsMeasuredAtFairValueOnRecurringBasisDetails Fair Value Measurements - Assets measured at fair value on recurring basis (Details) Details 65 false false R66.htm 99940702 - Disclosure - Fair Value Measurements (Details) Sheet http://newlease.com/role/DisclosureFairValueMeasurementsDetails Fair Value Measurements (Details) Details http://newlease.com/role/DisclosureFairValueMeasurementsTables 66 false false R67.htm 99940703 - Disclosure - Fair Value Measurements - Not measured at fair value (Details) Sheet http://newlease.com/role/DisclosureFairValueMeasurementsNotMeasuredAtFairValueDetails Fair Value Measurements - Not measured at fair value (Details) Details 67 false false R68.htm 99940801 - Disclosure - Debt - Mortgage Notes Payable (Details) Notes http://newlease.com/role/DisclosureDebtMortgageNotesPayableDetails Debt - Mortgage Notes Payable (Details) Details 68 false false R69.htm 99940802 - Disclosure - Debt - Affiliated Lines of Credit (Details) Sheet http://newlease.com/role/DisclosureDebtAffiliatedLinesOfCreditDetails Debt - Affiliated Lines of Credit (Details) Details 69 false false R70.htm 99940803 - Disclosure - Debt - Revolving Line of Credit (Details) Sheet http://newlease.com/role/DisclosureDebtRevolvingLineOfCreditDetails Debt - Revolving Line of Credit (Details) Details 70 false false R71.htm 99940804 - Disclosure - Debt - Aggregation Facility (Details) Sheet http://newlease.com/role/DisclosureDebtAggregationFacilityDetails Debt - Aggregation Facility (Details) Details 71 false false R72.htm 99940805 - Disclosure - Debt - Aggregation Facility Outstanding (Details) Sheet http://newlease.com/role/DisclosureDebtAggregationFacilityOutstandingDetails Debt - Aggregation Facility Outstanding (Details) Details 72 false false R73.htm 99940806 - Disclosure - Debt - Scheduled Principal Payments (Details) Sheet http://newlease.com/role/DisclosureDebtScheduledPrincipalPaymentsDetails Debt - Scheduled Principal Payments (Details) Details 73 false false R74.htm 99940901 - Disclosure - Derivative Contracts - Interest rate swap contracts (Details) Sheet http://newlease.com/role/DisclosureDerivativeContractsInterestRateSwapContractsDetails Derivative Contracts - Interest rate swap contracts (Details) Details 74 false false R75.htm 99940902 - Disclosure - Derivative Contracts - Gain Loss on derivatives (Details) Sheet http://newlease.com/role/DisclosureDerivativeContractsGainLossOnDerivativesDetails Derivative Contracts - Gain Loss on derivatives (Details) Details 75 false false R76.htm 99941001 - Disclosure - Leases - Lease-related income (Details) Sheet http://newlease.com/role/DisclosureLeasesLeaseRelatedIncomeDetails Leases - Lease-related income (Details) Details 76 false false R77.htm 99941002 - Disclosure - Leases - Future contractual base rents due to be received under non-cancelable operating leases (Details) Sheet http://newlease.com/role/DisclosureLeasesFutureContractualBaseRentsDueToBeReceivedUnderNonCancelableOperatingLeasesDetails Leases - Future contractual base rents due to be received under non-cancelable operating leases (Details) Details 77 false false R78.htm 99941003 - Disclosure - Leases - Concentration of credit risk (Details) Sheet http://newlease.com/role/DisclosureLeasesConcentrationOfCreditRiskDetails Leases - Concentration of credit risk (Details) Details 78 false false R79.htm 99941101 - Disclosure - Income Taxes (Details) Sheet http://newlease.com/role/DisclosureIncomeTaxesDetails Income Taxes (Details) Details http://newlease.com/role/DisclosureIncomeTaxes 79 false false R80.htm 99941201 - Disclosure - Redeemable Non-Controlling Interests (Details) Sheet http://newlease.com/role/DisclosureRedeemableNonControllingInterestsDetails Redeemable Non-Controlling Interests (Details) Details http://newlease.com/role/DisclosureRedeemableNonControllingInterestsTables 80 false false R81.htm 99941301 - Disclosure - Related and Affiliated Party Transactions - Components of due to affiliates (Details) Sheet http://newlease.com/role/DisclosureRelatedAndAffiliatedPartyTransactionsComponentsOfDueToAffiliatesDetails Related and Affiliated Party Transactions - Components of due to affiliates (Details) Details 81 false false R82.htm 99941302 - Disclosure - Related and Affiliated Party Transactions (Details) Sheet http://newlease.com/role/DisclosureRelatedAndAffiliatedPartyTransactionsDetails Related and Affiliated Party Transactions (Details) Details http://newlease.com/role/DisclosureRelatedAndAffiliatedPartyTransactionsTables 82 false false R83.htm 99941401 - Disclosure - Equity and Noncontrolling Interests - Formation transaction (Details) Sheet http://newlease.com/role/DisclosureEquityAndNoncontrollingInterestsFormationTransactionDetails Equity and Noncontrolling Interests - Formation transaction (Details) Details 83 false false R84.htm 99941402 - Disclosure - Equity and Noncontrolling Interests - Common shares (Details) Sheet http://newlease.com/role/DisclosureEquityAndNoncontrollingInterestsCommonSharesDetails Equity and Noncontrolling Interests - Common shares (Details) Details 84 false false R85.htm 99941403 - Disclosure - Equity and Noncontrolling Interests - Share and unit repurchases (Details) Sheet http://newlease.com/role/DisclosureEquityAndNoncontrollingInterestsShareAndUnitRepurchasesDetails Equity and Noncontrolling Interests - Share and unit repurchases (Details) Details 85 false false R86.htm 99941404 - Disclosure - Equity and Noncontrolling Interests - Distributions (Details) Sheet http://newlease.com/role/DisclosureEquityAndNoncontrollingInterestsDistributionsDetails Equity and Noncontrolling Interests - Distributions (Details) Details 86 false false R87.htm 99941405 - Disclosure - Equity and Noncontrolling Interests - Share based compensation (Details) Sheet http://newlease.com/role/DisclosureEquityAndNoncontrollingInterestsShareBasedCompensationDetails Equity and Noncontrolling Interests - Share based compensation (Details) Details 87 false false R88.htm 99941501 - Disclosure - Earnings Per Share (Details) Sheet http://newlease.com/role/DisclosureEarningsPerShareDetails Earnings Per Share (Details) Details http://newlease.com/role/DisclosureEarningsPerShareTables 88 false false R89.htm 99941701 - Disclosure - Subsequent Events - Unregistered sales of equity securities (Details) Sheet http://newlease.com/role/DisclosureSubsequentEventsUnregisteredSalesOfEquitySecuritiesDetails Subsequent Events - Unregistered sales of equity securities (Details) Details 89 false false R90.htm 99941801 - Disclosure - Schedule III - Real Estate and Accumulated Depreciation - Gross (Details) Sheet http://newlease.com/role/DisclosureScheduleIiiRealEstateAndAccumulatedDepreciationGrossDetails Schedule III - Real Estate and Accumulated Depreciation - Gross (Details) Details http://newlease.com/role/DisclosureScheduleIiiRealEstateAndAccumulatedDepreciation 90 false false R91.htm 99941802 - Disclosure - Schedule III - Real Estate and Accumulated Depreciation - Changes (Details) Sheet http://newlease.com/role/DisclosureScheduleIiiRealEstateAndAccumulatedDepreciationChangesDetails Schedule III - Real Estate and Accumulated Depreciation - Changes (Details) Details http://newlease.com/role/DisclosureScheduleIiiRealEstateAndAccumulatedDepreciation 91 false false All Reports Book All Reports tmb-20251231.xsd tmb-20251231_cal.xml tmb-20251231_def.xml tmb-20251231_lab.xml tmb-20251231_pre.xml tmb-20251231x10k.htm tmb-20251231x10k006.jpg tmb-20251231x10k008.jpg tmb-20251231x10k014.jpg http://fasb.org/srt/2025 http://fasb.org/us-gaap/2025 http://xbrl.sec.gov/cyd/2025 http://xbrl.sec.gov/dei/2025 http://xbrl.sec.gov/ecd/2025 true true