Investments in Real Estate, Net (Tables)

9 Months Ended

Sep. 30, 2026

Investments in Real Estate, Net

Schedule of Investments in Real Estate Activity

Investments in real estate are composed of the following:


		September 30, 2026				December 31, 2025
Buildings and improvements		$	1,615,974			$	1,271,687
Land and land improvements			278,053				194,280
Total			1,894,027				1,465,967
Accumulated depreciation			(199,905	)			(171,959	)
Investments in real estate, net		$	1,694,122			$	1,294,008

Schedule of Acquisition

The following table details the acquisition values, including closing costs, number of properties, and total square feet for acquisitions made by the Company during the nine months ended September 30, 2026 and 2025:


		Nine Months Ended
		September 30, 2026												September 30, 2025
		Number of properties				Acquisition value				Square feet				Number of properties				Acquisition value				Square feet
Industrial properties			12			$	323,496				1,983,167				4			$	83,402				316,268
Essential services properties			29			$	120,937				153,929				-			$	-				-
Total			41			$	444,433				2,137,096				4			$	83,402				316,268

Schedule of Purchase Price Allocation for Property Acquired

The following table details the purchase price allocation for the properties acquired during the nine months ended September 30, 2026 and 2025:


		Nine Months Ended
		September 30, 2026				September 30, 2025
Buildings and improvements		$	344,268			$	67,140
Land and land improvements			83,770				12,700
In-place lease intangibles			33,993				7,118
Below-market lease			(17,787	)			(3,556	)
Other lease intangibles			189				—
Total Purchase Price		$	444,433			$	83,402