PROVISION FOR IMPAIRMENT	6 Months Ended
Jun. 30, 2026
Provision for Impairment [Abstract]
PROVISION FOR IMPAIRMENT	NOTE 7. PROVISION FOR IMPAIRMENT Income Properties. The Company assesses the impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The fair value of long-lived assets required to be assessed for impairment is determined on a non-recurring basis using Level 3 inputs in the fair value hierarchy. These Level 3 inputs may include, but are not limited to, letters of intent on specific properties, executed purchase and sale agreements on specific properties, third-party valuations, discounted cash flow models, and other model-based techniques. During the three and six months ended June 30, 2026, the Company recorded a $0.2 million impairment charge related to a property within the Company’s income properties segment. The impairment charge was a result of the execution of a purchase and sale agreement during the three months ended June 30, 2026, under which the contractual sales price, less the property’s carrying value and estimated costs to sell, results in an impairment. The impairment during the six months ended June 30, 2026 is related to a property leased to Advance Auto Parts. The Company’s execution of the above-referenced purchase and sale agreement is consistent with the Company’s current intent to dispose of such property at a price less than its carrying value to facilitate the re-investment of the proceeds therefrom into new investment opportunities. During the three and six months ended June 30, 2025, the Company recorded $2.8 million and $4.6 million of impairment charges, respectively, with respect to certain properties within the Company’s income properties segment. The impairment charges are a result of the execution during the respective periods of letters of intent and/or purchase and sale agreements under which the expected sales prices, less the properties’ carrying values and estimated costs to sell, resulted in impairments. The impairments during the six months ended June 30, 2025 are related to the following properties: (i) three convenience store properties, which were classified as held for sale; (ii) a property formerly leased to Party City; (iii) a property leased to At Home; (iv) a property formerly leased to Century Theater Center; and (v) two properties leased to Walgreens. Commercial Loans and Investments. The Company evaluates the collectability of its commercial loans and investments, including sales-type lease investments, on a quarterly basis or whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company accounts for provisions for expected credit losses in accordance with ASC Topic 326, Measurement of Credit Losses on Financial Instruments. Changes in the Company’s allowance for credit losses are presented within the provision for impairment in the accompanying consolidated statements of operations. During the three and six months ended June 30, 2026, the Company recorded charges of $0.2 million and $0.7 million, respectively, representing the provision for credit losses related to our commercial loans and investments. The impairment charges were driven by the initial estimated CECL allowance based on our investment activity as well as loan repayments during the three and six months ended June 30, 2026. We are unable to use historical data to estimate expected credit losses as we have incurred no losses to date. Management utilizes a loss-rate method and considers macroeconomic factors to estimate its CECL allowance, which is calculated based on the amortized cost basis of the commercial loans. During the six months ended June 30, 2025, the Company recorded an impairment charge of $0.2 million, which was incurred during the three months ended March 31, 2025, representing the provision for credit losses related to our commercial loans and investments. The impairment charges were driven by the initial estimated CECL allowance based on our investment activity as well as loan repayments during the three and six months ended June 30, 2025.

PROVISION FOR IMPAIRMENT

6 Months Ended

Jun. 30, 2026

NOTE 7. PROVISION FOR IMPAIRMENT

Income Properties. The Company assesses the impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The fair value of long-lived assets required to be assessed for impairment is determined on a non-recurring basis using Level 3 inputs in the fair value hierarchy. These Level 3 inputs may include, but are not limited to, letters of intent on specific properties, executed purchase and sale agreements on specific properties, third-party valuations, discounted cash flow models, and other model-based techniques.

During the three and six months ended June 30, 2026, the Company recorded a $0.2 million impairment charge related to a property within the Company’s income properties segment. The impairment charge was a result of the execution of a purchase and sale agreement during the three months ended June 30, 2026, under which the contractual sales price, less the property’s carrying value and estimated costs to sell, results in an impairment. The impairment during the six months ended June 30, 2026 is related to a property leased to Advance Auto Parts. The Company’s execution of the above-referenced purchase and sale agreement is consistent with the Company’s current intent to dispose of such property at a price less than its carrying value to facilitate the re-investment of the proceeds therefrom into new investment opportunities.

During the three and six months ended June 30, 2025, the Company recorded $2.8 million and $4.6 million of impairment charges, respectively, with respect to certain properties within the Company’s income properties segment. The impairment charges are a result of the execution during the respective periods of letters of intent and/or purchase and sale agreements under which the expected sales prices, less the properties’ carrying values and estimated costs to sell, resulted in impairments. The impairments during the six months ended June 30, 2025 are related to the following properties: (i) three convenience store properties, which were classified as held for sale; (ii) a property formerly leased to Party City; (iii) a property leased to At Home; (iv) a property formerly leased to Century Theater Center; and (v) two properties leased to Walgreens.

Commercial Loans and Investments. The Company evaluates the collectability of its commercial loans and investments, including sales-type lease investments, on a quarterly basis or whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company accounts for provisions for expected credit losses in accordance with ASC Topic 326, Measurement of Credit Losses on Financial Instruments. Changes in the Company’s allowance for credit losses are presented within the provision for impairment in the accompanying consolidated statements of operations.

During the three and six months ended June 30, 2026, the Company recorded charges of $0.2 million and $0.7 million, respectively, representing the provision for credit losses related to our commercial loans and investments. The impairment charges were driven by the initial estimated CECL allowance based on our investment activity as well as loan repayments during the three and six months ended June 30, 2026. We are unable to use historical data to estimate expected credit losses as we have incurred no losses to date. Management utilizes a loss-rate method and considers macroeconomic factors to estimate its CECL allowance, which is calculated based on the amortized cost basis of the commercial loans.

During the six months ended June 30, 2025, the Company recorded an impairment charge of $0.2 million, which was incurred during the three months ended March 31, 2025, representing the provision for credit losses related to our commercial loans and investments. The impairment charges were driven by the initial estimated CECL allowance based on our investment activity as well as loan repayments during the three and six months ended June 30, 2025.