Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2025

Related Party Transactions [Abstract]

Schedule of Amount Contractually Due and Forgiven in Connection With Operation Related Services

The following table reflects related party fees incurred for the period presented:

	Year Ended December 31,
	2023
(In thousands)	Incurred
Fees (1):
Asset management fees (2)	$	22,803
Property management fees	5,480
Total operating fees to related parties	$	28,283

______________

(1)The Company incurred general and administrative costs and other expense reimbursements of approximately $1.2 million for the year ended December 31, 2023, which are recorded within general and administrative expenses on the consolidated statements of operations and are not reflected in the table above.

(2)The former Advisor, in accordance with the Advisory Agreement, received asset management fees in cash equal to the annual Minimum Base Management Fee of $18.0 million and the Variable Base Management Fee. The Variable Base Management Fee was $4.8 million for the year ended December 31, 2023.