Long-Term Incentive Plan Units (Tables)

9 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

Unvested LTIP Units

The below table details unvested OP LTIP Units as of September 30, 2025:

Grant Recipient	Number of Unvested OP LTIP Units	Grant Date	Vesting Date(1)
Directors:
	18,396	September 10, 2025	September 9, 2026
Dedicated or partially dedicated personnel:
	17,538	December 14, 2023	December 14, 2025
	39,740	March 19, 2024	December 31, 2025
	30,443	December 12, 2024	December 12, 2025
	18,383	December 12, 2024	December 12, 2026
	178,230	March 19, 2025	March 19, 2026
	62,172	March 19, 2025	December 31, 2026
Total unvested OP LTIP Units at September 30, 2025	364,902

(1)Date at which such OP LTIP Units will vest and become non-forfeitable.

Roll-Forward of Company's LTIP Units Outstanding

The following tables summarize issuance and exercise activity of OP LTIP Units for the three- and nine-month periods ended September 30, 2025 and 2024:

	Three-Month Period Ended
	September 30, 2025			September 30, 2024
	Manager	Director/ Employee	Total	Manager	Director/ Employee	Total
OP LTIP Units Outstanding (June 30, 2025 and 2024, respectively)	365,518	721,504	1,087,022	365,518	423,177	788,695
Granted	—	18,396	18,396	—	33,512	33,512
Exercised	—	—	—	—	(7,657)	(7,657)
OP LTIP Units Outstanding (September 30, 2025 and 2024, respectively)	365,518	739,900	1,105,418	365,518	449,032	814,550
OP LTIP Units Unvested and Outstanding (September 30, 2025 and 2024, respectively)	—	364,902	364,902	—	127,633	127,633
OP LTIP Units Vested and Outstanding (September 30, 2025 and 2024, respectively)	365,518	374,998	740,516	365,518	321,399	686,917

	Nine-Month Period Ended
	September 30, 2025			September 30, 2024
	Manager	Director/ Employee	Total	Manager	Director/ Employee	Total
OP LTIP Units Outstanding (December 31, 2024 and 2023, respectively)	365,518	481,102	846,620	365,518	383,437	748,955
Granted	—	258,798	258,798	—	73,252	73,252
Exercised	—	—	—	—	(7,657)	(7,657)
OP LTIP Units Outstanding (September 30, 2025 and 2024, respectively)	365,518	739,900	1,105,418	365,518	449,032	814,550
OP LTIP Units Unvested and Outstanding (September 30, 2025 and 2024, respectively)	—	364,902	364,902	—	127,633	127,633
OP LTIP Units Vested and Outstanding (September 30, 2025 and 2024, respectively)	365,518	374,998	740,516	365,518	321,399	686,917