v3.26.1
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Preferred Stock
Common Stock
Additional Paid-in Capital
Deficit
Beginning balance (in shares) at Dec. 31, 2024   0 17,754,287    
Beginning balance at Dec. 31, 2024 $ 95,113 $ 0 $ 179 $ 206,837 $ (111,903)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock (in shares)     489,108    
Issuance of common stock 6,605   $ 4 6,601  
Issuance of common stock through the distribution reinvestment plan (in shares)     115,047    
Issuance of common stock through the distribution reinvestment plan 1,541   $ 1 1,540  
Redemption of common stock (in shares)     (885,632)    
Redemption of common stock (11,935)   $ (10) (11,925)  
Distributions to investors (3,663)       (3,663)
Offering costs (246)     (246)  
Share-based compensation (in shares)     1,343    
Share-based compensation 19     19  
Net loss (798)       (798)
Ending balance (in shares) at Mar. 31, 2025   0 17,474,153    
Ending balance at Mar. 31, 2025 86,636 $ 0 $ 174 202,826 (116,364)
Beginning balance (in shares) at Dec. 31, 2024   0 17,754,287    
Beginning balance at Dec. 31, 2024 $ 95,113 $ 0 $ 179 206,837 (111,903)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock (in shares) 593,515        
Issuance of common stock $ 8,005        
Issuance of common stock through the distribution reinvestment plan 2,957        
Net loss (1,055)        
Ending balance (in shares) at Jun. 30, 2025   0 16,804,267    
Ending balance at Jun. 30, 2025 73,299 $ 0 $ 167 193,302 (120,170)
Beginning balance (in shares) at Mar. 31, 2025   0 17,474,153    
Beginning balance at Mar. 31, 2025 86,636 $ 0 $ 174 202,826 (116,364)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock (in shares)     104,407    
Issuance of common stock 1,400   $ 1 1,399  
Issuance of common stock through the distribution reinvestment plan (in shares)     105,977    
Issuance of common stock through the distribution reinvestment plan 1,416   $ 1 1,415  
Redemption of common stock (in shares)     (881,559)    
Redemption of common stock (11,780)   $ (9) (11,771)  
Distributions to investors (3,549)       (3,549)
Offering costs (585)     (585)  
Share-based compensation (in shares)     1,289    
Share-based compensation 18     18  
Net loss (257)       (257)
Ending balance (in shares) at Jun. 30, 2025   0 16,804,267    
Ending balance at Jun. 30, 2025 73,299 $ 0 $ 167 193,302 (120,170)
Beginning balance (in shares) at Dec. 31, 2025   0 15,548,468    
Beginning balance at Dec. 31, 2025 69,446 $ 0 $ 154 176,013 (106,721)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock (in shares)     1,176,605    
Issuance of common stock 15,470   $ 12 15,458  
Issuance of common stock through the distribution reinvestment plan (in shares)     93,561    
Issuance of common stock through the distribution reinvestment plan 1,216   $ 1 1,215  
Redemption of common stock (in shares)     (774,894)    
Redemption of common stock (10,142)   $ (6) (10,136)  
Distributions to investors (3,258)       (3,258)
Offering costs (344)     (344)  
Share-based compensation (in shares)     1,385    
Share-based compensation 18     18  
Net loss (425)       (425)
Ending balance (in shares) at Mar. 31, 2026   0 16,045,125    
Ending balance at Mar. 31, 2026 71,981 $ 0 $ 161 182,224 (110,404)
Beginning balance (in shares) at Dec. 31, 2025   0 15,548,468    
Beginning balance at Dec. 31, 2025 $ 69,446 $ 0 $ 154 176,013 (106,721)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock (in shares) 1,194,062        
Issuance of common stock $ 15,700        
Issuance of common stock through the distribution reinvestment plan 2,380        
Net loss (908)        
Ending balance (in shares) at Jun. 30, 2026   0 15,347,161    
Ending balance at Jun. 30, 2026 58,783 $ 0 $ 154 172,797 (114,168)
Beginning balance (in shares) at Mar. 31, 2026   0 16,045,125    
Beginning balance at Mar. 31, 2026 71,981 $ 0 $ 161 182,224 (110,404)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock (in shares)     17,457    
Issuance of common stock 230     230  
Issuance of common stock through the distribution reinvestment plan (in shares)     88,740    
Issuance of common stock through the distribution reinvestment plan 1,164   $ 1 1,163  
Redemption of common stock (in shares)     (805,537)    
Redemption of common stock (10,585)   $ (8) (10,577)  
Distributions to investors (3,281)       (3,281)
Offering costs (261)     (261)  
Share-based compensation (in shares)     1,376    
Share-based compensation 18     18  
Net loss (483)       (483)
Ending balance (in shares) at Jun. 30, 2026   0 15,347,161    
Ending balance at Jun. 30, 2026 $ 58,783 $ 0 $ 154 $ 172,797 $ (114,168)