v3.26.1
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (unaudited) - USD ($)
$ in Thousands
Total
Preferred Stock
Series A Preferred Stock
Common Stock
Class P Common Stock
Common Stock
Class A Common Stock
Common Stock
Class T Common Stock
Common Stock
Class S Common Stock
Common Stock
Class D Common Stock
Common Stock
Class I Common Stock
Additional Paid in Capital
Accumulated Deficit
Balance at Dec. 31, 2024 $ 244,579 $ 4 $ 9 $ 1 $ 0 $ 0 $ 0 $ 0 $ 339,524 $ (94,959)
Reimbursement of offering costs (Note 11) 1,023               1,023  
Net Income (Loss) 7,021                 7,021
Common stock distributions declared (6,303)                 (6,303)
Preferred stock distributions declared (2,991)                 (2,991)
Equity-based compensation 15               15  
Balance at Jun. 30, 2025 243,344 4 9 1 0 0 0 0 340,562 (97,232)
Balance at Mar. 31, 2025 243,887 4 9 1 0 0 0 0 339,532 (95,659)
Reimbursement of offering costs (Note 11) 1,023               1,023  
Net Income (Loss) 3,073                 3,073
Common stock distributions declared (3,150)                 (3,150)
Preferred stock distributions declared (1,496)                 (1,496)
Equity-based compensation 7               7  
Balance at Jun. 30, 2025 243,344 4 9 1 0 0 0 0 340,562 (97,232)
Balance at Dec. 31, 2025 226,248 4 9 1 0 0 0 0 341,354 (115,120)
Net Income (Loss) (6,626)               0 (6,626)
Common stock distributions declared (6,307)                 (6,307)
Preferred stock distributions declared (2,991)                 (2,991)
Equity-based compensation 15               15  
Balance at Jun. 30, 2026 210,339 4 9 1 0 0 0 0 341,369 (131,044)
Balance at Mar. 31, 2026 217,464 4 9 1 0 0 0 0 341,362 (123,912)
Net Income (Loss) (2,483)               0 (2,483)
Common stock distributions declared (3,153)                 (3,153)
Preferred stock distributions declared (1,496)                 (1,496)
Equity-based compensation 7               7  
Balance at Jun. 30, 2026 $ 210,339 $ 4 $ 9 $ 1 $ 0 $ 0 $ 0 $ 0 $ 341,369 $ (131,044)