v3.26.1
Fair Value of Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments The estimated fair value of the Company’s instruments below were determined by management based on a discounted future cash-flow model (in thousands):
March 31, 2026December 31, 2025
Note PayableCarrying
Value
Fair ValueCarrying
Value
Fair Value
Saddleback Ranch, LLC$1,163 $1,014 $1,250 $1,054 
Gateway II, LLC$15,566 $13,238 $15,643 $13,174 
The estimated fair values for the consolidated funds’ instruments below were determined by management based on a discounted future cash-flow model (in thousands):
March 31, 2026December 31, 2025
Note PayableCarrying
Value
Fair ValueCarrying
Value
Fair Value
Southpointe Fundco, LLC$1,050 $1,021 $1,050 $1,069 
West Frontier, LLC$5,038 $2,282 $5,055 $2,335