v3.26.1
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Unaudited) - USD ($)
$ in Thousands
Total
Total Stockholders' Equity
Common Stock
Common Shares
Common Stock
Common Shares Class G
Common Stock
Common Shares Class G-D
Common Stock
Common Shares Class G-S
Common Stock
Common Shares Class E
Common Stock
Common Shares Class I
Additional Paid-In Capital
Accumulated Deficit
Non-controlling Interests
Beginning balance at Dec. 31, 2024 $ 1 $ 1 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 1 $ 0 $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income 0                    
Net income attributable to non-controlling interest 0                    
Ending balance at Mar. 31, 2025 1 1 0 0 0 0 0 0 1 0 0
Beginning balance at Dec. 31, 2025 185,761 170,913 0 4 2 1 0 0 175,234 (4,328) 14,848
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income 2,297 2,297               2,297  
Net income attributable to non-controlling interest 236                   236
Proceeds from issuance of common shares 28,599 28,599   1   1     28,597    
Offering costs (577) (577)             (577)    
Common shares redeemed (47) (47)             (47)    
Distribution declared on common shares (See note 9) (4,241) (4,241)               (4,241)  
Contributions from non-controlling interests 4,753                   4,753
Ending balance at Mar. 31, 2026 $ 216,781 $ 196,944 $ 0 $ 5 $ 2 $ 2 $ 0 $ 0 $ 203,207 $ (6,272) $ 19,837