v3.26.1
Series C Preferred Equity (Tables)
12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of Roll Forward of Series C Preferred Equity

Roll forward of Series C Preferred Equity, net of discounts:

 

  

December 31,

2025

  

December 31,

2024

 
         
Beginning balance  $6,430   $4,773 
Additions from new investments   -    1,200 
Distributions   (663)   (245)
Additions from reinvestment   988    702 
Series C issued in exchange for Class A common equity, net of discount   287    - 
           
Ending balance  $7,042   $6,430 
Schedule of Conversion Options for Investors in Series C Preferred Equity

The following table shows the earliest conversion options for investors in Series C preferred equity as of December 31, 2025. Amounts are presented at redeemable values, which are prior to discounts reflected in the carrying amounts:

 

Year Maturing 

Total

Amount

Convertible

 
     
Currently convertible (requires notice of 12 months)  $3,336 
2026   309 
2027   1,355 
2028   206 
2029   - 
2030 and thereafter   3,879 
      
Total  $9,085