Held for Sale

9 Months Ended

Sep. 30, 2025

Discontinued Operations and Disposal Groups [Abstract]

Held for Sale

Held for Sale

As discussed in Note 3 – Real Estate Transactions, one subdivided unit at a CRE industrial property met the criteria for classification as held for sale as of September 30, 2025. The planned disposition of the subdivided unit represents neither a strategic shift nor will it have a material impact on the Company's operations and financial results and therefore, will continue to be accounted for as continuing operations. Assets and liabilities associated with the subdivided unit were measured at fair value less any costs to sell and found to be in excess of the carrying value. Those assets and liabilities are presented in the Company's condensed consolidated balance sheets in Assets held for sale and Accrued and other liabilities, respectively, as of September 30, 2025. Refer to Note 5 – Fair Value Measurements for additional discussion of the inputs used to determine their fair value.

The following table presents information related to the major classes of assets and liabilities that were classified as held for sale in the Condensed Consolidated Balance Sheets as of September 30, 2025, (in thousands):

	September 30, 2025
Real estate investments
Real estate property	$	8,592
Accumulated depreciation	(1,244)
Real estate property, net	7,348
Real estate intangible assets, net	42
Real estate investments, net	7,390
Straight-line rent receivable	34
Total Assets held for sale	$	7,424
Accrued and other liabilities	49
Total Liabilities associated with assets held for sale1	$	49
1Liabilities associated with assets held for sale is presented in Accrued and other liabilities on the Company's condensed consolidated balance sheets for all periods presented.