Equity (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Equity [Abstract] |
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| Schedule of Partners' Respective Ownership Interests, Life-to-date Contributions and Redemptions |
As of September 30, 2026, the Partners' respective ownership interests, life-to-date contributions and redemptions or repurchases were as follows:
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($s in thousands) |
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%
Owned |
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# of Units
Owned (1) |
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# of OP Units Owned |
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Contributions (2) |
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Redemptions/Repurchases (3) |
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Formation Contribution |
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General Partner (4) |
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0.0 |
% |
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56 |
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55 |
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$ |
10 |
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$ |
— |
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SCI-II (4) |
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0.6 |
% |
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55 |
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27,092 |
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2,450 |
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— |
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Total Formation Contribution |
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0.6 |
% |
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|
111 |
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27,147 |
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2,460 |
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— |
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Private Offering |
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Class A Limited Partners |
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63.7 |
% |
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2,687,228 |
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— |
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251,792 |
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(9,269 |
) |
Class I Limited Partners |
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3.0 |
% |
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128,399 |
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— |
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51,588 |
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(40,000 |
) |
Class R Limited Partners |
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32.7 |
% |
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1,378,572 |
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— |
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128,232 |
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(3,817 |
) |
Total Limited Partners |
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99.4 |
% |
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4,194,199 |
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— |
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431,612 |
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(53,086 |
) |
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Total |
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100.0 |
% |
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4,194,310 |
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27,147 |
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$ |
434,072 |
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$ |
(53,086 |
) |
(1)Includes 4,607,953 Units issued under the Private Offering and 174,457 Units issued pursuant to the Partnership's DRIP, and net of 588,211 Units redeemed or repurchased. (2)Includes approximately $415.9 million of initial contributions under the Private Offering and approximately $15.7 million of DRIP contributions. (3)Redemptions/repurchases amounts reflect 102,709 Class A Units, 443,213 Class I Units, and 42,289 Class R Units redeemed or repurchased. (4)Numbers of Units and OP Units rounded to show the correct totals owned by the GP and SCI-II.
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| Summary of Proceeds from Private Offering and Number of Units Issued |
The following tables set forth the net proceeds raised from the Private Offering and the number of Units issued for the three and nine months ended September 30, 2026 and 2025:
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Three Months Ended |
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Nine Months Ended |
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September 30, 2026 |
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September 30, 2025 |
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September 30, 2026 |
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September 30, 2025 |
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($s in thousands) |
# of Units Issued |
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Proceeds |
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# of Units Issued |
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Proceeds |
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# of Units Issued |
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Proceeds |
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# of Units Issued |
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Proceeds |
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Class A |
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89,675 |
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$ |
8,094 |
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106,541 |
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$ |
9,615 |
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257,259 |
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$ |
23,218 |
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367,949 |
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$ |
33,206 |
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Class I |
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2,216 |
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200 |
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— |
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— |
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2,216 |
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200 |
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14,404 |
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1,300 |
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Class R |
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37,346 |
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3,371 |
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53,730 |
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4,849 |
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101,047 |
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9,120 |
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221,010 |
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19,946 |
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Total |
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129,237 |
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$ |
11,665 |
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160,271 |
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$ |
14,464 |
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360,522 |
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$ |
32,538 |
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603,363 |
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$ |
54,452 |
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| Summary of Partners Capital Contributions Received and Number of Units Issued |
The following tables set forth the DRIP contributions received, and the number of Units issued pursuant to the DRIP, during the three and nine months ended September 30, 2026 and 2025:
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Three Months Ended |
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Nine Months Ended |
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September 30, 2026 |
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September 30, 2025 |
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September 30, 2026 |
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September 30, 2025 |
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($s in thousands) |
# of Units Issued |
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DRIP Proceeds |
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# of Units Issued |
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DRIP Proceeds |
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# of Units Issued |
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DRIP Proceeds |
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# of Units Issued |
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DRIP Proceeds |
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Class A |
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12,617 |
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$ |
1,139 |
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10,525 |
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$ |
950 |
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36,296 |
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$ |
3,276 |
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29,214 |
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$ |
2,637 |
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Class I |
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520 |
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47 |
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530 |
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48 |
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1,543 |
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139 |
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1,674 |
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151 |
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Class R |
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6,070 |
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548 |
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5,281 |
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477 |
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17,983 |
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1,623 |
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14,269 |
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1,288 |
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Total |
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19,207 |
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$ |
1,734 |
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16,336 |
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$ |
1,475 |
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55,822 |
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$ |
5,038 |
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45,157 |
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$ |
4,076 |
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| Summary of Partners Capital Redemptions Processed |
The following table sets forth the redemptions processed pursuant to the Partnership Agreement, during the three and nine months ended September 30, 2026 and 2025:
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Three Months Ended |
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Nine Months Ended |
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September 30, 2026 |
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September 30, 2025 |
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September 30, 2026 |
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September 30, 2025 |
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($s in thousands) |
# of Units |
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$ |
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# of Units |
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$ |
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# of Units |
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$ |
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# of Units |
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$ |
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Redemptions |
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39,912 |
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$ |
3,602 |
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5,746 |
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$ |
519 |
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109,275 |
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$ |
9,862 |
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7,246 |
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$ |
654 |
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