v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets    
Investments in real estate, net $ 473,550 $ 476,325
Cash and cash equivalents 18,668 13,248
Restricted cash 5,596 5,596
Real estate related intangibles, net 35,979 36,969
Other assets 10,568 9,193
Total Assets 544,361 541,331
Liabilities and (Deficit)/Equity    
Mortgage notes, net 194,024 194,000
Lease liability - finance lease 98,098 97,573
Accounts payable and accrued expenses 2,630 1,687
Total Liabilities 311,906 309,784
Redeemable non-controlling interests 233,380 226,295
(Deficit)/Equity    
Preferred stock 220 220
Additional paid-in capital 17,655 22,481
Accumulated deficit (18,865) (17,509)
Total (Deficit)/Equity (925) 5,252
Total Liabilities, Redeemable non-controlling interest and (Deficit)/Equity 544,361 541,331
Due to affiliates    
Liabilities and (Deficit)/Equity    
Due to affiliates 15,878 14,945
Nonrelated Party    
Liabilities and (Deficit)/Equity    
Due to affiliates 1,276 1,579
Common stock Class T    
(Deficit)/Equity    
Common stock 0 0
Common stock Class S    
(Deficit)/Equity    
Common stock 0 0
Common stock Class D    
(Deficit)/Equity    
Common stock 0 0
Class I Common Stock    
(Deficit)/Equity    
Common stock 6 5
Common stock Class A-I    
(Deficit)/Equity    
Common stock 28 28
Common stock Class A-II    
(Deficit)/Equity    
Common stock 30 26
Class E Common Stock    
(Deficit)/Equity    
Common stock $ 1 $ 1