| Schedule of Investment in Real Estate, Net |
Investment in real estate, net consisted of the following as of June 30, 2026 and December 31, 2025:
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June 30, 2026 |
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December 31, 2025 |
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Building and building improvements |
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$ |
972,650,070 |
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$ |
948,471,379 |
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Land |
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143,629,966 |
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129,457,842 |
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Total |
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1,116,280,036 |
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1,077,929,221 |
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Accumulated depreciation |
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(121,088,400 |
) |
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(113,331,033 |
) |
Investment in real estate, net |
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$ |
995,191,636 |
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$ |
964,598,188 |
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| Schedule of Interest in Real Properties |
As of June 30, 2026, the Company owned interests in 42 real properties and a plot of land as described below:
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Portfolio |
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Ownership
Percentage |
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Location |
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Number of
Properties |
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Square
Feet/ Acre |
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Remaining
Lease
Term(1) |
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Acquisition
Date |
Purchase
Price(2) |
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Walgreens Grand Rapids ("GR Property") |
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100.00 |
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% |
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Grand Rapids, MI |
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1 |
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14,552 |
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11.1 years |
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July 2017 |
$ |
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7,936,508 |
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CF Net Lease Portfolio IV DST ("Net Lease DST Properties") |
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16.70 |
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% |
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Various |
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7 |
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103,537 |
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10.4 years |
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September 2017 |
$ |
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35,706,642 |
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Daimler Trucks North America Office Building ("FM Property") |
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100.00 |
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% |
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Fort Mill, SC |
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1 |
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150,164 |
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2.5 years |
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February 2018 |
$ |
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40,000,000 |
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Alliance Data Systems Office Building ("CO Property") |
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100.00 |
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% |
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Columbus, OH |
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1 |
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241,493 |
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6.2 years |
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July 2018 |
$ |
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46,950,000 |
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Hoya Optical Labs of America ("Lewisville Property") |
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100.00 |
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% |
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Lewisville, TX |
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1 |
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89,473 |
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2.0 years |
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November 2018 |
$ |
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14,120,000 |
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Martin Brower Industrial Buildings ("Buchanan Property") |
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100.00 |
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% |
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Phoenix, AZ |
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1 |
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93,302 |
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5.7 years |
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November 2019 |
$ |
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17,300,000 |
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Multifamily Residential Property ("Keller Property") |
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5.00 |
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% |
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Carrolton, TX |
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1 |
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255,627 |
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multiple(3) |
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February 2021 |
$ |
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56,500,000 |
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Multifamily Residential Property ("Summerfield Property") |
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100.00 |
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% |
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Landover, MD |
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1 |
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452,876 |
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multiple(3) |
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March 2021 |
$ |
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115,500,000 |
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Amazon Last Mile Cleveland ("Madison Ave Property") |
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100.00 |
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% |
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Cleveland, OH |
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1 |
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168,750 |
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4.8 years |
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May 2021 |
$ |
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30,800,000 |
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Valencia California ("Valencia Property") |
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27.45 |
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% |
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Santa Clarita, CA |
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1 |
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180,415 |
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9.5 years |
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July 2021 |
$ |
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92,000,000 |
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De Anza Plaza Office Buildings ("De Anza Property") |
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100.00 |
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% |
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Cupertino, CA |
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1 |
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83,959 |
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5.1 years |
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July 2021 |
$ |
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63,750,000 |
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Multifamily Residential Property ("Kacey Property") |
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14.90 |
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% |
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Kingwood, TX |
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1 |
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296,991 |
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multiple(3) |
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November 2021 |
$ |
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67,000,000 |
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Multifamily Residential Property ("Industry Property") |
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21.20 |
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% |
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Columbus, OH |
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1 |
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187,678 |
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multiple(3) |
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December 2021 |
$ |
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81,000,000 |
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Multifamily Residential Property ("Longmire Property") |
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0.00 |
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% |
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Conroe, TX |
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1 |
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231,720 |
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multiple(3) |
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April 2022 |
$ |
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43,400,000 |
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Office Tower ("ON3 Property") |
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37.17 |
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% |
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Nutley, NJ |
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1 |
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332,818 |
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12.5 years |
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April 2022 |
$ |
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131,667,000 |
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Multifamily Residential Property ("West End Property") |
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66.94 |
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% |
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Lenexa, KS |
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1 |
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299,813 |
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multiple(3) |
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August 2022 |
$ |
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69,375,000 |
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Multifamily Residential Property ("Palms Property") |
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22.58 |
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% |
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Houston, TX |
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1 |
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222,672 |
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multiple(3) |
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August 2022 |
$ |
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48,000,000 |
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Land ("Mount Comfort Land") |
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100.00 |
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% |
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Greenfield, IN |
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0 |
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1 - acre |
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9.8 years |
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October 2022 |
$ |
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445,000 |
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Multifamily Residential Property ("Pearland Property") |
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100.00 |
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% |
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Pearland, TX |
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1 |
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219,624 |
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multiple(3) |
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June 2023 |
$ |
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40,500,000 |
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CF WAG Portfolio DST ("WAG Portfolio Properties") |
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100.00 |
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% |
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Various |
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8 |
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118,339 |
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10.4 years |
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September 2024 |
$ |
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42,000,000 |
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WAG MH Property ("WAG MH Properties") |
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100.00 |
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% |
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Various |
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9 |
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139,305 |
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10.4 years |
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January 2025 |
$ |
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50,130,000 |
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Multifamily Residential Property ("Archer Property") |
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100.00 |
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% |
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Acworth, GA |
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1 |
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324,128 |
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multiple(3) |
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June 2026 |
$ |
|
92,500,000 |
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(1) Reflects number of years remaining until the tenant’s first termination option. (2) Reflects the contract purchase price at 100% ownership as opposed to adjusted for current ownership percentage as applicable. (3) Indicates individual tenant leases (with a 1-year average lease term) for the multifamily residential properties.
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