Fair Value of Financial Instruments (Tables)

12 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments Not Carried at Fair Value

The table below provides information regarding these financial instruments not carried at fair value in our consolidated balance sheet as of September 30, 2025:

	As of September 30, 2025				As of September 30, 2024
	Carrying Value		Fair Value		Carrying Value		Fair Value
Loans held for investment	$	60,984	$	61,989	$	56,221	$	57,365
Secured financing facility	44,586		45,471		41,109		41,793
Mortgage notes payable (1)	136,168		137,076		45,149		46,520

(1)Includes two mortgage notes payable with an aggregate carrying value of $90,739 that carry interest at a rate of SOFR plus a premium. The carrying values of these mortgage notes approximate fair value.

Schedule of Assets and Liabilities Measured at Fair Value

The following tables present our financial assets and liabilities that have been measured at fair value on a recurring basis:

	As of September 30, 2025
	Total		Level 1		Level 2		Level 3
Due from related parties related to share based payment awards	$	15,797	$	15,797	$	—	$	—
Investment in SEVN	17,610		17,610		—		—
Investment in Fund VII	3,156		—		—		3,156
Investment in joint ventures	11,134		—		—		11,134
Employer compensation liability related to share based payment awards	15,797		15,797		—		—
Interest rate caps	1,758		—		1,758		—
Earnout liability	3,639		—		—		3,639

	As of September 30, 2024
	Total		Level 1		Level 2		Level 3
Due from related parties related to share based payment awards	$	14,339	$	14,339	$	—	$	—
Investment in SEVN	23,520		23,520		—		—
Employer compensation liability related to share based payment awards	14,339		14,339		—		—
Earnout liability	11,958		—		—		11,958

Schedule of Fair Value Measurement Inputs and Valuation Techniques

The following tables present additional information about the valuation techniques and significant unobservable inputs for financial assets and liabilities that are measured at fair value and categorized within Level 3 as of September 30, 2025:

	As of September 30, 2025
	Fair Value		Valuation Technique	Unobservable Input	Range
Investment in Fund VII	$	3,156	Discounted cash flow	Discount rates	6.50% - 7.00%
				Exit capitalization rates	5.00% - 5.50%
				Holding period	10 years
Investment in joint ventures	$	11,134	Discounted cash flow	Unlevered IRR	12.02% - 12.37%
				Exit capitalization rates	4.97% - 5.15%
				Holding period	3 years
Earnout liability	$	3,639	Monte Carlo	Capital deployment volatility	15.00%
				Discount rate	5.84%

	As of September 30, 2024
	Fair Value		Valuation Technique	Unobservable Input	Range
Earnout liability	$	11,958	Monte Carlo	Capital deployment volatility	15.00%
				Discount rate	5.53%

Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The tables below present a summary of the changes in fair value for our investment in Fund VII and Earnout liability measured on a recurring basis:

	Fiscal Year Ended		Fiscal Year Ended
Investment in Fund VII	September 30, 2025		September 30, 2024
Beginning balance	$	—	$	—
Changes in fair value for our investment in Fund VII	3,156		—
Ending balance	$	3,156	$	—

	Fiscal Year Ended		Fiscal Year Ended
Earnout Liability	September 30, 2025		September 30, 2024
Beginning balance	$	11,958	$	—
Acquisition of MPC Partnership Holdings LLC	—		14,547
Changes in fair value for our Earnout liability	(8,319)		(2,589)
Ending balance	$	3,639	$	11,958