v3.26.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Revenues    
Rental revenue $ 111,601 $ 108,138
Total revenues 111,601 108,138
Expenses    
Property operating expense 390 425
Depreciation and amortization 35,747 35,174
Management fee 4,606  
Performance participation allocation 3,424  
General and administrative 3,596 1,838
Organizational costs 103  
Total expenses 47,866 37,437
Other (expense)/income    
Interest expense (42,226) (42,020)
Other income 577 431
Net change in unrealized (depreciation)/appreciation on investments related to foreign exchange fluctuations (452) 806
Net change in unrealized depreciation on derivative swaps (51) (468)
Net realized loss on financial instruments   (83)
Net gain on sales of real estate   338
Total other (expense)/income (42,152) (40,996)
Net income before income tax expense 21,583 29,705
Income tax expense (43) (431)
Net income 21,540 29,274
Net income attributable to non-controlling interests (5,094) (4,486)
Net income attributable to the Company's shareholders $ 16,446 $ 24,788
Weighted average shares outstanding - basic (in dollars per share) 29,041,983 27,307,734
Weighted average shares outstanding - diluted (in dollars per share) 29,098,059 27,307,734
Class A    
Other (expense)/income    
Weighted average shares outstanding - basic (in dollars per share) 9,126,780 831,571
Weighted average shares outstanding - diluted (in dollars per share) 9,126,780 831,571
Earnings per share - basic (in shares) $ 0.55 $ 0.91
Earnings per share - diluted (in shares) $ 0.55 $ 0.91
Class F    
Other (expense)/income    
Weighted average shares outstanding - basic (in dollars per share) 11,354,436 6,287,642
Weighted average shares outstanding - diluted (in dollars per share) 11,354,436 6,287,642
Earnings per share - basic (in shares) $ 0.45 $ 0.91
Earnings per share - diluted (in shares) $ 0.45 $ 0.91
Class I    
Other (expense)/income    
Weighted average shares outstanding - basic (in dollars per share) 1,848,634  
Weighted average shares outstanding - diluted (in dollars per share) 1,848,634  
Earnings per share - basic (in shares) $ 0.35  
Earnings per share - diluted (in shares) $ 0.35  
Class E    
Other (expense)/income    
Weighted average shares outstanding - basic (in dollars per share) 6,712,132 20,188,521
Weighted average shares outstanding - diluted (in dollars per share) 6,768,208 20,188,521
Earnings per share - basic (in shares) $ 0.84 $ 0.91
Earnings per share - diluted (in shares) $ 0.84 $ 0.91