v3.26.1
Condensed Consolidated Statements of Changes in Redeemable Common Shares and Equity (Unaudited) - USD ($)
Total
Common Class E
Common Shares
Common Class E
Common Shares
Class F-I Common Shares
Common Shares
Class F-S Common Shares
Additional Paid-In Capital
Accumulated Earnings (Deficit)
Redeemable Common Shares Beginning balance at Dec. 31, 2024 [1]   $ 2,000          
Beginning balance at Dec. 31, 2024 $ 0   $ 0 $ 0 $ 0 $ 0 $ 0
Allocation to redeemable non-controlling interest 0   0 0 0 0 0
Allocation to redeemable non-controlling interest [1]   0          
Common shares repurchased 0            
Redeemable Common Shares Ending balance at Mar. 31, 2025 [1]   2,000          
Ending balance at Mar. 31, 2025 0   0 0 0 0 0
Redeemable Common Shares Beginning balance at Dec. 31, 2025 [1]   6,531,000          
Beginning balance at Dec. 31, 2025 104,515,000   1,000 41,000 5,000 106,487,000 (2,019,000)
Common shares issued [1]   0          
Common shares issued 52,246,000   0 9,000 11,000 52,226,000 0
Offering costs [1]   (30,000)          
Offering costs (3,079,000)   0 0 0 (3,079,000) 0
Net income (loss) [1]   207,000          
Net income (loss) 4,698,000   0 0 0 0 4,698,000
Distribution reinvestment [1]   0          
Distribution reinvestment 1,354,000   0 0 0 1,354,000 0
Distributions declared on common shares [1]   (150,000)          
Distributions declared on common shares (3,430,000)   0 [2] 0 [2] 0 [2] (3,430,000) 0
Common shares repurchased [1]   0          
Common shares repurchased (52,000)   0 0 0 (52,000) 0
Remeasurement of redeemable common shares [1]   25,000          
Remeasurement of redeemable common shares (25,000)   0 0   (25,000) 0
Redeemable Common Shares Ending balance at Mar. 31, 2026 [1]   $ 6,583,000          
Ending balance at Mar. 31, 2026 $ 156,227,000   $ 1,000 $ 50,000 $ 16,000 $ 153,481,000 $ 2,679,000
[1] Redeemable common shares pertain to Class E shares purchased by the Advisors or their affiliates. See Note 7.
[2] The gross per share distributions declared for Class E, Class F-I, and Class F-S were $0.5781, $0.5781 and $0.5781 respectively.