v3.26.1
Fair Value of Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Financial Instruments

As of March 31, 2026 and December 31, 2025, all financial instruments and liabilities were reflected in our condensed consolidated balance sheets at amounts which, in our estimation, reasonably approximated their fair values, except for the following:

 

 

 

March 31, 2026

 

 

December 31, 2025

 

 

Estimated fair value

 

 

Carrying value

 

 

Estimated fair value

 

 

Carrying value

 

Investment in real estate debt, net

 

$

76,004

 

 

$

75,018

 

 

$

75,969

 

 

$

74,921

 

Secured debt, net

 

 

(1,196,699

)

 

 

(1,193,273

)

 

 

(1,119,471

)

 

 

(1,104,656

)