Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | |
|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| Revenue | ||
| Interest income | $ 14,136 | $ 0 |
| Other income | 2,343 | 0 |
| Total revenue | 16,479 | 0 |
| Expenses | ||
| Interest and fees on debt obligations | 7,462 | 0 |
| Debt issuance costs | 751 | 0 |
| Organizational costs | 0 | 0 |
| Origination fees payable to advisors | 1,152 | 0 |
| General and administrative | 2,088 | 0 |
| Performance fees | 121 | 0 |
| Total expenses | 11,574 | 0 |
| Gains (losses) from operations and financing | ||
| Unrealized gain (loss) on real estate loan investments | 0 | 0 |
| Unrealized gain (loss) on debt obligations | 0 | 0 |
| Total gain (loss) from operations and financing, net | 0 | 0 |
| Net income | $ 4,905 | $ 0 |
| Net income per common share, basic | $ 0.78 | $ 0 |
| Net income per common share, diluted | $ 0.78 | $ 0 |
| Weighted-average common shares outstanding, basic | 6,320,162 | 80 |
| Weighted-average common shares outstanding, diluted | 6,320,162 | 80 |
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- Definition Debt issuance costs. No definition available.
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- Definition Gain Loss From Operations And Financing Net. No definition available.
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- Definition Gains (Losses) From Operations And Financing. No definition available.
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- Definition Organizational costs. No definition available.
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- Definition Origination fees payable to advisors. No definition available.
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- Definition Unrealized gain (loss) on real estate loan investments. No definition available.
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- Definition Amount of unrealized gain (loss) on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), investment in debt security measured at amortized cost (held-to-maturity) and investment in debt security measured at fair value with change in fair value recognized in net income (trading). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Interest and debt related expenses associated with nonoperating financing activities of the entity. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The aggregate interest and fee income generated by: (1) loans the Entity has positive intent and ability to hold for the foreseeable future, or until maturity or payoff, including commercial and consumer loans, whether domestic or foreign, which may consist of: (a) industrial and agricultural; (b) real estate; and (c) real estate construction loans; (d) trade financing; (e) lease financing; (f) home equity lines-of-credit; (g) automobile and other vehicle loans; and (h) credit card and other revolving-type loans and (2) loans and leases held-for-sale which may include mortgage loans, direct financing, and sales-type leases. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Incentive fees which are compensation paid to a trading advisor or to any practitioner who achieves investment results above a specified contractual level. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of revenue earned, classified as other, excluding interest income. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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