v3.26.1
Related Party Transactions - Additional Information (Details)
 3 Months Ended 6 Months Ended
Jun. 05, 2026
USD ($)
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2026
USD ($)
Subsidiary
Jun. 30, 2025
USD ($)
Dec. 31, 2025
USD ($)
Related Party Transaction [Line Items]            
Prepaid and other assets [1]   $ 26,754,000   $ 26,754,000   $ 4,852,000
Fixed interest rate per anum   3.63%   3.63%    
NexPoint Real Estate Advisors, L.P            
Related Party Transaction [Line Items]            
Percentage of annual advisory, paid monthly       1.00%    
Percentage of annual administrative fee, paid monthly       0.20%    
Advisory and administrative fees on contributed assets       $ 5,400,000    
Advisory and administrative fees percentage       1.20%    
Advisory and administrative fees   $ 1,800,000 $ 1,700,000 $ 3,600,000 $ 3,400,000  
Advisory and administrative fees waived   5,500,000 5,300,000 10,900,000 10,600,000  
NexPoint Real Estate Advisors, L.P | Maximum            
Related Party Transaction [Line Items]            
Advisory and administrative fees on contributed assets       $ 5,400,000    
Corporate general and administrative expenses and advisory and administrative fees percentage       1.50%    
NLMF Holdco LLC            
Related Party Transaction [Line Items]            
Property owning subsidiaries | Subsidiary       3    
Equity interest owned       10.00%    
Prepaid and other assets   1,100,000   $ 1,100,000   $ 900,000
Net income equity in earnings of affiliate   100,000 100,000 200,000 100,000  
NLMF Leaseco, LLC            
Related Party Transaction [Line Items]            
Expenses incurred for fiber internet service included in property operating expenses   1,400,000 700,000 2,500,000 1,400,000  
NexBank Capital            
Related Party Transaction [Line Items]            
Recognized interest income   200,000 $ 0 $ 200,000 $ 0  
NexBank Capital | Purchase Agreement            
Related Party Transaction [Line Items]            
Loan purchased, amount $ 22,100,000          
Outstanding Principal Balance $ 22,100,000          
Fixed interest rate per anum 10.00%          
Payment terms payable monthly on an interest-only basis through January 2027 and thereafter with scheduled principal amortization          
Maturity date Jan. 14, 2028          
Option to extend term 364-day extension option          
Exit fee 0.50%          
Event of a material breach, description       In the event of a material breach of such representations and warranties that is not cured within 30 days of notice, subject to the limited ability to extend for an additional 30 days, NexBank Capital is obligated to repurchase the Waterford Loan from the OP at a repurchase price equal to 100% of the outstanding principal balance under the Waterford Loan, plus accrued interest. Claims for breach of representations and warranties under the Purchase Agreement survive for 360 days after the closing date.    
Recognized interest income       $ 200,000    
NexBank Capital | Purchase Agreement | Notes Receivable            
Related Party Transaction [Line Items]            
Prepaid and other assets   $ 22,100,000   $ 22,100,000    
NexBank Capital | Director and Officer            
Related Party Transaction [Line Items]            
Indirect ownership limited partnership interests in parent of adviser       100.00%    
General partnership interests in parent of adviser       100.00%    
[1] Includes $22.1 million and $0.0 million note receivable from a related party as of June 30, 2026 and December 31, 2025, respectively (see Note 9).