NOTE 22. SUBSEQUENT EVENTS

Subsequent events and transactions were evaluated through October 22, 2026, the date the consolidated financial statements were issued.

On October 9, 2026, the Company announced an agreement to acquire a 13-property industrial portfolio for $117.3 million, or $63 per square foot. The portfolio totals approximately 1.9 million square feet across 11 states and is 100% leased to nine tenants under absolute triple-net leases with annual rent escalations. The leases have a weighted average remaining lease term of 10.2 years, with no lease expirations before late 2031. The acquisition is expected to close in the fourth quarter of 2026, subject to customary closing conditions.

Subsequent to quarter end, the Company received bank commitments for a new $100 million four-year term loan and a $75 million increase in commitments under the Revolving Facility, from $250 million to $325 million. The financing is expected to close in late October 2026, and the term loan proceeds will be used to repay outstanding borrowings under the Revolving Facility.