v3.26.1
STATEMENTS OF EQUITY - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive (Loss) Income
Parent
Noncontrolling Interests
Balance at Dec. 31, 2024 $ 4,678 $ 2 $ 5,242 $ (464) $ (102)      
Proceeds from issuance of common stock 3,344 1 3,343          
Offering costs (164)   (164)          
Distribution reinvestment/ Proceeds from distribution reinvestment plan 33   33          
Distributions declared (168)     (168)        
Net income (loss) (311)     (311)        
Comprehensive loss from Operating Partnership (99)       (99)      
Balance at Jun. 30, 2025 7,313 3 8,454 (943) (201)      
Balance at Mar. 31, 2025 5,539 2 6,366 (673) (156)      
Proceeds from issuance of common stock 2,181 1 2,180          
Offering costs (114)   (114)          
Distribution reinvestment/ Proceeds from distribution reinvestment plan 22   22          
Distributions declared (97)     (97)        
Net income (loss) (173)     (173)        
Comprehensive loss from Operating Partnership (45)       (45)      
Balance at Jun. 30, 2025 7,313 3 8,454 (943) $ (201)      
Balance at Dec. 31, 2025 11,021 5 13,032 (1,685)   $ (331) $ 11,021  
Proceeds from issuance of common stock 2,433 1 2,432       2,433  
Offering costs (197)   (197)       (197)  
Noncontrolling interests recognized upon consolidation of equity method investment 125,135             $ 125,135
Distribution reinvestment/ Proceeds from distribution reinvestment plan 142   142       142  
Shares/units repurchased (692)   (226)       (226) (466)
Distributions declared (1,473)     (360)     (360) (1,113)
Equity-based compensation 45   45       45  
Unrealized gain on derivatives 1,313         140 140 1,173
Reclassification adjustment for amounts included in net loss 320         330 330 (10)
Net income (loss) (1,681)     1,320     1,320 (3,001)
Reallocation of stockholders'equity and noncontrolling interests     83       83 (83)
Balance at Jun. 30, 2026 136,366 6 15,311 (725)   139 14,731 121,635
Balance at Mar. 31, 2026 11,551 6 14,067 (2,220)   (302) 11,551  
Proceeds from issuance of common stock 1,396   1,396       1,396  
Offering costs (174)   (174)       (174)  
Noncontrolling interests recognized upon consolidation of equity method investment 125,135             125,135
Distribution reinvestment/ Proceeds from distribution reinvestment plan 74   74       74  
Shares/units repurchased (619)   (153)       (153) (466)
Distributions declared (1,301)     (188)     (188) (1,113)
Equity-based compensation 18   18       18  
Unrealized gain on derivatives 1,313         140 140 1,173
Reclassification adjustment for amounts included in net loss 320         330 330 (10)
Net income (loss) (1,318)     1,683     1,683 (3,001)
Comprehensive loss from Operating Partnership (29)         (29) (29)  
Reallocation of stockholders'equity and noncontrolling interests     83       83 (83)
Balance at Jun. 30, 2026 $ 136,366 $ 6 $ 15,311 $ (725)   $ 139 $ 14,731 $ 121,635