| Schedule of Asset Acquisition |
The table below reflects the allocation of purchase consideration to the acquired assets and assumed liabilities in connection with the Merger (amounts in thousands).
| | | | | | | | | | Description | | Asset Acquisition Allocation | | Cash and cash equivalents | | $ | 22,773 | | | Restricted cash | | 3,245 | | | Other assets | | 3,563 | | | Due from related party | | 23,143 | | | Investment in equity method investees | | 331,583 | | | Investment in real estate properties, net | | 167,707 | | | Accounts payable and accrued expenses | | (3,460) | | | Due to related party | | (2,309) | | | Distributions payable | | (5,964) | | | Redemptions payable | | (36) | | | Other liabilities | | (1,862) | | | Notes payable - related party | | (80,388) | | | Mortgages payable and credit facility, net | | (63,443) | | | Net assets acquired and liabilities assumed | | $ | 394,552 | | | | |
| | | | | | | | | | | As of April 29, 2026 | | Land | | $ | 85,770 | | | Building and improvements | | 70,208 | | | Site improvements | | 3,653 | | | Furniture, fixtures, and equipment | | 26 | | | Intangible lease assets | | 8,050 | | Intangible lease liabilities (1) | | (1,227) | | | Total relative fair value | | $ | 166,480 | |
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