v3.26.1
Income Taxes
12 Months Ended
Dec. 31, 2025
Income Taxes  
Income Taxes

Note 11. Income Taxes

The Company intends to elect to be a REIT under the applicable provisions of the Code, commencing with the filing of its 2025 tax returns for its tax year ending December 31, 2025. The Predecessor elected and has qualified to be taxed as a REIT under the applicable provisions of the Code for every year beginning with the year ended December 31, 2018. The Company pays state income tax, related to income apportioned to the state, and income tax to foreign governments related to income derived from assets in foreign countries. For the year ended December 31, 2025, the Company incurred current income tax expense of $59 related to state income tax and current income tax benefit of $(16) related to the reduction of income taxes expected to be paid to the Mexican government related to a property sold in 2024. The Company has no deferred tax benefit.