v3.26.1
Fixed Assets, Net
6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Fixed Assets, Net Fixed Assets, Net
At June 30, 2026 and December 31, 2025, fixed assets consisted of the following (in thousands):
June 30,
2026
December 31,
2025
Land$22,377 $19,693 
Building135,869 132,692 
Site improvements1,122 1,122 
Computers129 122 
Furniture and fixtures
Office equipment98 94 
Leasehold improvements
Fixed assets, gross159,601 153,729 
Less: accumulated depreciation(5,534)(2,737)
Fixed assets, net$154,067 $150,992 
Depreciation expense was $1.4 million and $14 thousand, for the three months ended June 30, 2026 and June 30, 2025, respectively, and $2.8 million and $26 thousand for the six months ended June 30, 2026 and June 30, 2025, respectively.

The Company evaluates the recoverability of the carrying value of equipment when events and circumstances indicate that such assets might be impaired. There were no such charges during the three and six months ended June 30, 2026 and 2025.