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  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_1d1d060d-d937-4d83-bebc-d4aa41d397a5_negatedLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Accumulated amortization</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Accumulated Amortization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization"/>
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    <link:label id="lab_us-gaap_InvestmentPolicyTextBlock_49ecf9fc-fd3a-4965-a3b0-842d7d5595e3_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Investments</link:label>
    <link:label id="lab_us-gaap_InvestmentPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_InvestmentPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InvestmentPolicyTextBlock"/>
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    <link:label id="lab_none_TitanAlleytonTXMember_label_en-US" xlink:label="lab_none_TitanAlleytonTXMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Titan, Alleyton, TX [Member]</link:label>
    <link:label id="lab_none_TitanAlleytonTXMember_documentation_en-US" xlink:label="lab_none_TitanAlleytonTXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Titan, Alleyton, TX</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_TitanAlleytonTXMember" xlink:href="none-20251231.xsd#none_TitanAlleytonTXMember"/>
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    <link:label id="lab_ecd_AwardTmgPredtrmndFlag_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgPredtrmndFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing Predetermined</link:label>
    <link:label id="lab_ecd_AwardTmgPredtrmndFlag_label_en-US" xlink:label="lab_ecd_AwardTmgPredtrmndFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing Predetermined [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgPredtrmndFlag" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgPredtrmndFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgPredtrmndFlag" xlink:to="lab_ecd_AwardTmgPredtrmndFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_none_RWHoldingsNNNREITOperatingPartnershipLPMember_21c8220c-62e5-424d-9d8b-46b850861b37_terseLabel_en-US" xlink:label="lab_none_RWHoldingsNNNREITOperatingPartnershipLPMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Partnership</link:label>
    <link:label id="lab_none_RWHoldingsNNNREITOperatingPartnershipLPMember_label_en-US" xlink:label="lab_none_RWHoldingsNNNREITOperatingPartnershipLPMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">RW Holdings NNN REIT Operating Partnership, LP [Member]</link:label>
    <link:label id="lab_none_RWHoldingsNNNREITOperatingPartnershipLPMember_documentation_en-US" xlink:label="lab_none_RWHoldingsNNNREITOperatingPartnershipLPMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">RW Holdings NNN REIT Operating Partnership, LP (formerly known as Rich Uncles NNN Operating Partnership, L.P., a Delaware limited partnership (the &#8220;Operating Partnership&#8221;)</link:label>
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    <link:label id="lab_dei_EntityFileNumber_label_en-US" xlink:label="lab_dei_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity File Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityFileNumber" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityFileNumber"/>
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    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_a717c027-d84f-4ab7-b9b6-67ad9f57d1b0_verboseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Additional Paid-in Capital</link:label>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Paid-in Capital [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapitalMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AdditionalPaidInCapitalMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapitalMember" xlink:to="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:type="arc" order="1"/>
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    <link:label id="lab_ecd_TabularListTableTextBlock_label_en-US" xlink:label="lab_ecd_TabularListTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tabular List [Table Text Block]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TabularListTableTextBlock" xlink:to="lab_ecd_TabularListTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestments_b8ca769d-65b2-4f92-8f9a-1332a7fa5db1_terseLabel_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate investments, net</link:label>
    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestments_label_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Real Estate Investments</link:label>
    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestments_documentation_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of Real Estate Investments reported by an equity method investment of the entity.</link:label>
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    <link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_e0c10cac-4eac-4fc8-83c3-00ae30056991_terseLabel_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recent Accounting Pronouncements</link:label>
    <link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New Accounting Pronouncements, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock_c81f76d3-da6b-427d-8edf-bc51655e7902_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Related Party Transactions</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Related Party Transactions [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredCostsLeasingNet_56bfde6d-b968-4c82-8a8d-bd6953e0639d_verboseLabel_en-US" xlink:label="lab_us-gaap_DeferredCostsLeasingNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Above-market lease intangibles, net</link:label>
    <link:label id="lab_us-gaap_DeferredCostsLeasingNet_label_en-US" xlink:label="lab_us-gaap_DeferredCostsLeasingNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Costs, Leasing, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredCostsLeasingNet" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DeferredCostsLeasingNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredCostsLeasingNet" xlink:to="lab_us-gaap_DeferredCostsLeasingNet" xlink:type="arc" order="1"/>
    <link:label id="lab_none_NewInterestSwapAgreementTwoMember_81c6504c-d7d5-4acb-b4d0-d29029303d36_terseLabel_en-US" xlink:label="lab_none_NewInterestSwapAgreementTwoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">New Interest Swap Agreement Two</link:label>
    <link:label id="lab_none_NewInterestSwapAgreementTwoMember_label_en-US" xlink:label="lab_none_NewInterestSwapAgreementTwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New Interest Swap Agreement Two [Member]</link:label>
    <link:label id="lab_none_NewInterestSwapAgreementTwoMember_documentation_en-US" xlink:label="lab_none_NewInterestSwapAgreementTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">New Interest Swap Agreement Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_NewInterestSwapAgreementTwoMember" xlink:href="none-20251231.xsd#none_NewInterestSwapAgreementTwoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_NewInterestSwapAgreementTwoMember" xlink:to="lab_none_NewInterestSwapAgreementTwoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AdjToCompAxis_terseLabel_en-US" xlink:label="lab_ecd_AdjToCompAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation:</link:label>
    <link:label id="lab_ecd_AdjToCompAxis_label_en-US" xlink:label="lab_ecd_AdjToCompAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToCompAxis" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AdjToCompAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToCompAxis" xlink:to="lab_ecd_AdjToCompAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_ed31f6cb-9a7f-4933-b29a-faddc5184b94_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">RELATED PARTY TRANSACTIONS</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NamedExecutiveOfficersFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_NamedExecutiveOfficersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Named Executive Officers, Footnote</link:label>
    <link:label id="lab_ecd_NamedExecutiveOfficersFnTextBlock_label_en-US" xlink:label="lab_ecd_NamedExecutiveOfficersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Named Executive Officers, Footnote [Text Block]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NamedExecutiveOfficersFnTextBlock" xlink:to="lab_ecd_NamedExecutiveOfficersFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_d922f98e-a606-413e-ad37-59c40d6a32ef_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Dividends paid to preferred stockholders</link:label>
    <link:label id="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Ordinary Dividends, Preferred Stock and Preference Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock"/>
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    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements_342c3e86-5842-493c-bd24-01e3f4b66060_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buildings &amp; Improvements</link:label>
    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements_label_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Building and Improvements, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xlink:to="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xlink:type="arc" order="1"/>
    <link:label id="lab_none_AccountingPoliciesLineItems_871a3963-b2c1-4aa6-bfcf-fb7db24c4814_terseLabel_en-US" xlink:label="lab_none_AccountingPoliciesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounting Policies [Line Items]</link:label>
    <link:label id="lab_none_AccountingPoliciesLineItems_label_en-US" xlink:label="lab_none_AccountingPoliciesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Policies [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_AccountingPoliciesLineItems" xlink:href="none-20251231.xsd#none_AccountingPoliciesLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_AccountingPoliciesLineItems" xlink:to="lab_none_AccountingPoliciesLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract_6b8c9b35-466c-4341-b6e3-6ba507494115_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts Payable, Accrued and Other Liabilities</link:label>
    <link:label id="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract_label_en-US" xlink:label="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Payable and Accrued Liabilities [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract" xlink:to="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AdjToCompAmt_terseLabel_en-US" xlink:label="lab_ecd_AdjToCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation, Amount</link:label>
    <link:label id="lab_ecd_AdjToCompAmt_label_en-US" xlink:label="lab_ecd_AdjToCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AdjToCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToCompAmt" xlink:to="lab_ecd_AdjToCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskPercentage1_3a29e8e9-ab81-42b4-af99-3f7772af2680_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskPercentage1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of Total Assets</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskPercentage1_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskPercentage1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskPercentage1" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskPercentage1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskPercentage1" xlink:to="lab_us-gaap_ConcentrationRiskPercentage1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeCashReceivedOnHedge_71558b92-f907-4420-9bca-225fa71da2d1_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DerivativeCashReceivedOnHedge" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Derivative cash settlements</link:label>
    <link:label id="lab_us-gaap_DerivativeCashReceivedOnHedge_label_en-US" xlink:label="lab_us-gaap_DerivativeCashReceivedOnHedge" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Cash Received on Hedge</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeCashReceivedOnHedge" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeCashReceivedOnHedge"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeCashReceivedOnHedge" xlink:to="lab_us-gaap_DerivativeCashReceivedOnHedge" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConsolidationPolicyTextBlock_fd790449-abd8-4c7b-bad3-15699d538890_terseLabel_en-US" xlink:label="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principles of Consolidation</link:label>
    <link:label id="lab_us-gaap_ConsolidationPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConsolidationPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConsolidationPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConsolidationPolicyTextBlock" xlink:to="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensation_f2764737-ace8-4cd1-b223-3cab8e5c20bd_verboseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Stock compensation expense</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensation_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Noncash Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensation" xlink:to="lab_us-gaap_ShareBasedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EmployeeStockOptionMember_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeStockOptionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee Stock Option</link:label>
    <link:label id="lab_us-gaap_EmployeeStockOptionMember_label_en-US" xlink:label="lab_us-gaap_EmployeeStockOptionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Option [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeStockOptionMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EmployeeStockOptionMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeStockOptionMember" xlink:to="lab_us-gaap_EmployeeStockOptionMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_87057421-f905-404d-bd7f-168a13836692_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquity_9b0e70eb-b294-42a2-8c1a-400a0b082f60_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Modiv Industrial, Inc. equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquity_label_en-US" xlink:label="lab_us-gaap_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Attributable to Parent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockholdersEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquity" xlink:to="lab_us-gaap_StockholdersEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_InsiderTradingPoliciesProcLineItems_label_en-US" xlink:label="lab_ecd_InsiderTradingPoliciesProcLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTradingPoliciesProcLineItems" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_InsiderTradingPoliciesProcLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_InsiderTradingPoliciesProcLineItems" xlink:to="lab_ecd_InsiderTradingPoliciesProcLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTextBlock_85794f6d-03e9-4207-a43e-d6ad47175d76_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Property, Plant and Equipment</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTextBlock_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockSharesAuthorized_7029f34d-3249-49ec-8ee7-8be771ab349b_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares authorized (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesAuthorized_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares Authorized</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesAuthorized" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonStockSharesAuthorized"/>
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    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_a25b0a70-e407-42cc-9d1b-cd2d30ef16ed_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">ATM offering of common stock, net (in shares)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, New Issues</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_76bf1683-f4fd-4bd2-9c5f-98273591019a_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities and Equity</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_none_LessorOperatingLeaseNumberOfRenewalOptions_6c12b7a7-58c2-4a8d-96b5-8398e8a90e76_terseLabel_en-US" xlink:label="lab_none_LessorOperatingLeaseNumberOfRenewalOptions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of renewal options</link:label>
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    <link:label id="lab_none_LessorOperatingLeaseNumberOfRenewalOptions_documentation_en-US" xlink:label="lab_none_LessorOperatingLeaseNumberOfRenewalOptions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Number Of Renewal Options</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_LessorOperatingLeaseNumberOfRenewalOptions" xlink:href="none-20251231.xsd#none_LessorOperatingLeaseNumberOfRenewalOptions"/>
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    <link:label id="lab_dei_CoverAbstract_label_en-US" xlink:label="lab_dei_CoverAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cover [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CoverAbstract" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_CoverAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CoverAbstract" xlink:to="lab_dei_CoverAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MaximumMember_d504dcaa-17e6-45cb-a7fc-bd01d06b2c87_terseLabel_en-US" xlink:label="lab_srt_MaximumMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum</link:label>
    <link:label id="lab_srt_MaximumMember_label_en-US" xlink:label="lab_srt_MaximumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MaximumMember" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MaximumMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MaximumMember" xlink:to="lab_srt_MaximumMember" xlink:type="arc" order="1"/>
    <link:label id="lab_none_LesseeRentEscalationPercentage_d2ced3b3-c2be-4d07-9d79-6c9ea36adfc7_terseLabel_en-US" xlink:label="lab_none_LesseeRentEscalationPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual rent escalation rate (in percent)</link:label>
    <link:label id="lab_none_LesseeRentEscalationPercentage_label_en-US" xlink:label="lab_none_LesseeRentEscalationPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessee, Rent Escalation, Percentage</link:label>
    <link:label id="lab_none_LesseeRentEscalationPercentage_documentation_en-US" xlink:label="lab_none_LesseeRentEscalationPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lessee, Rent Escalation, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_LesseeRentEscalationPercentage" xlink:href="none-20251231.xsd#none_LesseeRentEscalationPercentage"/>
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    <link:label id="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_4b7dce17-1acd-4480-9fe2-d7c5a7a651b1_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Less: net loss (income) attributable to noncontrolling interests in Operating Partnership</link:label>
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    <link:label id="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Attributable to Noncontrolling Interest</link:label>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_50dd43b0-6e60-42a7-b87f-546e25abadc3_totalLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net amount</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsNet"/>
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    <link:label id="lab_none_EarningsPerShareBasicAndDilutedEPSAbstract_46e27cd7-7840-4f43-bf99-839ffcf41d98_terseLabel_en-US" xlink:label="lab_none_EarningsPerShareBasicAndDilutedEPSAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings (loss) per share attributable to common stockholders and Class C OP Units:</link:label>
    <link:label id="lab_none_EarningsPerShareBasicAndDilutedEPSAbstract_label_en-US" xlink:label="lab_none_EarningsPerShareBasicAndDilutedEPSAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Basic and Diluted EPS [Abstract]</link:label>
    <link:label id="lab_none_EarningsPerShareBasicAndDilutedEPSAbstract_documentation_en-US" xlink:label="lab_none_EarningsPerShareBasicAndDilutedEPSAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Basic and Diluted EPS</link:label>
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    <link:label id="lab_ecd_NonPeoNeoAvgTotalCompAmt_label_en-US" xlink:label="lab_ecd_NonPeoNeoAvgTotalCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-PEO NEO Average Total Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonPeoNeoAvgTotalCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonPeoNeoAvgTotalCompAmt"/>
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    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationByPropertyTable_11caf786-b778-4c8e-ab78-1b2a5b231f33_terseLabel_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationByPropertyTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, by Property [Table]</link:label>
    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationByPropertyTable_label_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationByPropertyTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, by Property [Table]</link:label>
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    <link:label id="lab_us-gaap_DebtInstrumentLineItems_97a7a203-0aff-45eb-824e-df0fb7cf50ea_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument [Line Items]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentLineItems_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentLineItems" xlink:to="lab_us-gaap_DebtInstrumentLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_none_RealEstateAcquisitionValuationPolicyTextBlock_5af275e4-88bc-4110-9c46-321995cc1f19_terseLabel_en-US" xlink:label="lab_none_RealEstateAcquisitionValuationPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Investments</link:label>
    <link:label id="lab_none_RealEstateAcquisitionValuationPolicyTextBlock_label_en-US" xlink:label="lab_none_RealEstateAcquisitionValuationPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Acquisition Valuation [Policy Text Block]</link:label>
    <link:label id="lab_none_RealEstateAcquisitionValuationPolicyTextBlock_documentation_en-US" xlink:label="lab_none_RealEstateAcquisitionValuationPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of accounting policy for valuation of real estate acquisition.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_RealEstateAcquisitionValuationPolicyTextBlock" xlink:href="none-20251231.xsd#none_RealEstateAcquisitionValuationPolicyTextBlock"/>
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    <link:label id="lab_ecd_AdjToNonPeoNeoCompFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment to Non-PEO NEO Compensation Footnote</link:label>
    <link:label id="lab_ecd_AdjToNonPeoNeoCompFnTextBlock_label_en-US" xlink:label="lab_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Non-PEO NEO Compensation Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AdjToNonPeoNeoCompFnTextBlock"/>
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    <link:label id="lab_none_NewInterestSwapAgreementThreeMember_019c37a7-c434-710f-bbe2-94ddd301d44e_terseLabel_en-US" xlink:label="lab_none_NewInterestSwapAgreementThreeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">New Interest Swap Agreement Three</link:label>
    <link:label id="lab_none_NewInterestSwapAgreementThreeMember_label_en-US" xlink:label="lab_none_NewInterestSwapAgreementThreeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New Interest Swap Agreement Three [Member]</link:label>
    <link:label id="lab_none_NewInterestSwapAgreementThreeMember_documentation_en-US" xlink:label="lab_none_NewInterestSwapAgreementThreeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">New Interest Swap Agreement Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_NewInterestSwapAgreementThreeMember" xlink:href="none-20251231.xsd#none_NewInterestSwapAgreementThreeMember"/>
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    <link:label id="lab_none_DeferredTenantReimbursement_d8b6c67d-4400-4593-b9e4-f34261ff6a90_verboseLabel_en-US" xlink:label="lab_none_DeferredTenantReimbursement" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Lease incentive obligation</link:label>
    <link:label id="lab_none_DeferredTenantReimbursement_label_en-US" xlink:label="lab_none_DeferredTenantReimbursement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tenant Reimbursement</link:label>
    <link:label id="lab_none_DeferredTenantReimbursement_documentation_en-US" xlink:label="lab_none_DeferredTenantReimbursement" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of deferred tenant reimbursement.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_DeferredTenantReimbursement" xlink:href="none-20251231.xsd#none_DeferredTenantReimbursement"/>
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    <link:label id="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Disqualification of Tax Benefits, Amount</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Disqualification of Tax Benefits, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:to="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonRule10b51ArrTrmntdFlag_terseLabel_en-US" xlink:label="lab_ecd_NonRule10b51ArrTrmntdFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Terminated</link:label>
    <link:label id="lab_ecd_NonRule10b51ArrTrmntdFlag_label_en-US" xlink:label="lab_ecd_NonRule10b51ArrTrmntdFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Terminated [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonRule10b51ArrTrmntdFlag" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonRule10b51ArrTrmntdFlag"/>
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    <link:label id="lab_none_NonCashOrPartNonCashTransactionsAccruedDistributions_39093af4-ffc4-4814-adb7-3173b36ad7ff_verboseLabel_en-US" xlink:label="lab_none_NonCashOrPartNonCashTransactionsAccruedDistributions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">(Decrease) increase in accrued distributions</link:label>
    <link:label id="lab_none_NonCashOrPartNonCashTransactionsAccruedDistributions_label_en-US" xlink:label="lab_none_NonCashOrPartNonCashTransactionsAccruedDistributions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non Cash Or Part Non Cash Transactions Accrued Distributions</link:label>
    <link:label id="lab_none_NonCashOrPartNonCashTransactionsAccruedDistributions_documentation_en-US" xlink:label="lab_none_NonCashOrPartNonCashTransactionsAccruedDistributions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Non Cash Or Part Non Cash Transactions Accrued Distributions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_NonCashOrPartNonCashTransactionsAccruedDistributions" xlink:href="none-20251231.xsd#none_NonCashOrPartNonCashTransactionsAccruedDistributions"/>
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    <link:label id="lab_dei_EntityShellCompany_98149491-f53c-480b-8b15-75e30520e2d4_terseLabel_en-US" xlink:label="lab_dei_EntityShellCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Shell Company</link:label>
    <link:label id="lab_dei_EntityShellCompany_label_en-US" xlink:label="lab_dei_EntityShellCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Shell Company</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityShellCompany" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityShellCompany"/>
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    <link:label id="lab_us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract_1440f45b-27be-4aa8-8b83-2ddba5706a53_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock</link:label>
    <link:label id="lab_us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract_label_en-US" xlink:label="lab_us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Number of Shares, Par Value and Other Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract" xlink:to="lab_us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock_473a7d6a-2761-458c-983e-9f46b7926734_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Carrying Values and Estimated Fair Values of Mortgage Notes Payable</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock"/>
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    <link:label id="lab_us-gaap_DebtInstrumentTable_3e461013-c06c-4e6a-9825-e290d432cf19_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentTable_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Long-Term Debt Instruments [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentTable" xlink:to="lab_us-gaap_DebtInstrumentTable" xlink:type="arc" order="1"/>
    <link:label id="lab_none_DisposalGroupIncludingDiscontinuedOperationConsiderationExcludingExtensionFees_019c36eb-6672-7727-95e3-ecba18c06907_terseLabel_en-US" xlink:label="lab_none_DisposalGroupIncludingDiscontinuedOperationConsiderationExcludingExtensionFees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disposal group, including discontinued operation, consideration of sale price</link:label>
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    <link:label id="lab_us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward_a2817685-07c2-4cb9-ac7b-804a316047be_terseLabel_en-US" xlink:label="lab_us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated depreciation and amortization:</link:label>
    <link:label id="lab_us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward_label_en-US" xlink:label="lab_us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward"/>
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    <link:label id="lab_none_ClassPClassRAndClassXOPUnitsMember_21dc57a8-b494-4ccc-8f75-358536fe1816_terseLabel_en-US" xlink:label="lab_none_ClassPClassRAndClassXOPUnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class P, Class R And Class X OP Units</link:label>
    <link:label id="lab_none_ClassPClassRAndClassXOPUnitsMember_label_en-US" xlink:label="lab_none_ClassPClassRAndClassXOPUnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class P, Class R And Class X OP Units [Member]</link:label>
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    <link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfStockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementOfStockholdersEquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax_4a446267-2a40-466d-a750-bcac23665f0e_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of unrealized holding gain on interest rate swap</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax_ab1fd644-4981-480c-b1e9-962e49b398fd_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Amortization of unrealized gain on interest rate swap valuation</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax"/>
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    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_c6a9df64-a06a-407c-ac3c-3539aaa326ce_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Comprehensive loss (income) attributable to noncontrolling interest in Operating Partnership</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest"/>
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    <link:label id="lab_ecd_AwardTmgMnpiCnsdrdFlag_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgMnpiCnsdrdFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Considered</link:label>
    <link:label id="lab_ecd_AwardTmgMnpiCnsdrdFlag_label_en-US" xlink:label="lab_ecd_AwardTmgMnpiCnsdrdFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Considered [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgMnpiCnsdrdFlag" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgMnpiCnsdrdFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgMnpiCnsdrdFlag" xlink:to="lab_ecd_AwardTmgMnpiCnsdrdFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_none_SixAxisAndrewsSCMember_cdd9a9fc-091a-4a34-9873-a480deea92d7_terseLabel_en-US" xlink:label="lab_none_SixAxisAndrewsSCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SixAxis, Andrews, SC</link:label>
    <link:label id="lab_none_SixAxisAndrewsSCMember_label_en-US" xlink:label="lab_none_SixAxisAndrewsSCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SixAxis, Andrews, SC [Member]</link:label>
    <link:label id="lab_none_SixAxisAndrewsSCMember_documentation_en-US" xlink:label="lab_none_SixAxisAndrewsSCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SixAxis, Andrews, SC</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_SixAxisAndrewsSCMember" xlink:href="none-20251231.xsd#none_SixAxisAndrewsSCMember"/>
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    <link:label id="lab_none_ConstructionAdvances_4531214e-f7ba-48ac-a681-332f4a499af0_terseLabel_en-US" xlink:label="lab_none_ConstructionAdvances" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Construction advances</link:label>
    <link:label id="lab_none_ConstructionAdvances_label_en-US" xlink:label="lab_none_ConstructionAdvances" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Construction Advances</link:label>
    <link:label id="lab_none_ConstructionAdvances_documentation_en-US" xlink:label="lab_none_ConstructionAdvances" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Construction Advances</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_ConstructionAdvances" xlink:href="none-20251231.xsd#none_ConstructionAdvances"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_ConstructionAdvances" xlink:to="lab_none_ConstructionAdvances" xlink:type="arc" order="1"/>
    <link:label id="lab_none_LindsayGapMember_72b6e9a2-601c-4460-a0ac-b4a4da1859b1_terseLabel_en-US" xlink:label="lab_none_LindsayGapMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lindsay, Gap, PA</link:label>
    <link:label id="lab_none_LindsayGapMember_label_en-US" xlink:label="lab_none_LindsayGapMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lindsay, Gap [Member]</link:label>
    <link:label id="lab_none_LindsayGapMember_documentation_en-US" xlink:label="lab_none_LindsayGapMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lindsay, Gap</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_LindsayGapMember" xlink:href="none-20251231.xsd#none_LindsayGapMember"/>
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    <link:label id="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_0509eb38-0a4a-4b63-8194-a191b9578345_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Total Stock Compensation Expense</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock"/>
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    <link:label id="lab_dei_DocumentFiscalPeriodFocus_c86a2413-7551-4c5d-9d60-0e23887fb023_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_label_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
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    <link:label id="lab_ecd_AwardTmgMethodTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing Method</link:label>
    <link:label id="lab_ecd_AwardTmgMethodTextBlock_label_en-US" xlink:label="lab_ecd_AwardTmgMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing Method [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgMethodTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgMethodTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgMethodTextBlock" xlink:to="lab_ecd_AwardTmgMethodTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AwardTypeAxis_73813c8f-f585-478a-b7c2-72f3ba5b439e_terseLabel_en-US" xlink:label="lab_us-gaap_AwardTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Type</link:label>
    <link:label id="lab_us-gaap_AwardTypeAxis_label_en-US" xlink:label="lab_us-gaap_AwardTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AwardTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AwardTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AwardTypeAxis" xlink:to="lab_us-gaap_AwardTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherOwnershipInterestsByNameAxis_6a8c292f-b39f-4eff-bf30-2e0fc5c8498d_terseLabel_en-US" xlink:label="lab_us-gaap_OtherOwnershipInterestsByNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Ownership Interests Name [Axis]</link:label>
    <link:label id="lab_us-gaap_OtherOwnershipInterestsByNameAxis_label_en-US" xlink:label="lab_us-gaap_OtherOwnershipInterestsByNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Ownership Interests Name [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherOwnershipInterestsByNameAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherOwnershipInterestsByNameAxis"/>
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    <link:label id="lab_none_AmortizationOfOffMarketInterestRateDerivatives_label_en-US" xlink:label="lab_none_AmortizationOfOffMarketInterestRateDerivatives" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization Of Off-Market Interest Rate Derivatives</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_none_AmortizationOfOffMarketInterestRateDerivatives" xlink:href="none-20251231.xsd#none_AmortizationOfOffMarketInterestRateDerivatives"/>
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    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets_aa77a5a5-23e5-4f46-b050-0feede14c784_terseLabel_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets_label_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Other Assets</link:label>
    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets_documentation_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of other assets reported by an equity method investment of the entity.</link:label>
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    <link:label id="lab_us-gaap_SaleLeasebackTransactionNameDomain_fb3159c3-11d0-4a95-84ea-dcfd16929fa2_terseLabel_en-US" xlink:label="lab_us-gaap_SaleLeasebackTransactionNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale Leaseback Transaction, Name [Domain]</link:label>
    <link:label id="lab_us-gaap_SaleLeasebackTransactionNameDomain_label_en-US" xlink:label="lab_us-gaap_SaleLeasebackTransactionNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Leaseback Transaction, Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SaleLeasebackTransactionNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SaleLeasebackTransactionNameDomain"/>
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    <link:label id="lab_srt_EquityMethodInvesteeNameDomain_label_en-US" xlink:label="lab_srt_EquityMethodInvesteeNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment, Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_EquityMethodInvesteeNameDomain" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_EquityMethodInvesteeNameDomain"/>
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    <link:label id="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_5c864841-172b-436e-90c5-ea959eedd0d4_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted Operating Partnership Unit Awards</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:to="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_TradingSymbol_09d10f26-dd2e-4d64-bdb0-1ffe9f4299a2_terseLabel_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:label id="lab_dei_TradingSymbol_label_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_TradingSymbol" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_TradingSymbol"/>
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    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_50cf6d3a-c494-461c-9f03-278f1b3e07a5_verboseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Stock compensation expense (in shares)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressCityOrTown_0534da1c-1430-4d9d-99dd-539944703831_terseLabel_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:label id="lab_dei_EntityAddressCityOrTown_label_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressCityOrTown" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressCityOrTown"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressCityOrTown" xlink:to="lab_dei_EntityAddressCityOrTown" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt_terseLabel_en-US" xlink:label="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-PEO NEO Average Compensation Actually Paid Amount</link:label>
    <link:label id="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt_label_en-US" xlink:label="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-PEO NEO Average Compensation Actually Paid Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonPeoNeoAvgCompActuallyPaidAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:to="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateAccumulatedDepreciationRealEstateSold_5b1850c2-3a37-4793-8863-3f40b8a7d556_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAccumulatedDepreciationRealEstateSold" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dispositions</link:label>
    <link:label id="lab_us-gaap_RealEstateAccumulatedDepreciationRealEstateSold_label_en-US" xlink:label="lab_us-gaap_RealEstateAccumulatedDepreciationRealEstateSold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation, Investment in Real Estate Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateAccumulatedDepreciationRealEstateSold" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateAccumulatedDepreciationRealEstateSold"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAccumulatedDepreciationRealEstateSold" xlink:to="lab_us-gaap_RealEstateAccumulatedDepreciationRealEstateSold" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock_terseLabel_en-US" xlink:label="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Other Measure</link:label>
    <link:label id="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock_label_en-US" xlink:label="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Other Measure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_CompActuallyPaidVsOtherMeasureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:to="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityEmergingGrowthCompany_ee9dd031-c1fe-45c1-ab1c-0ded87dc3366_terseLabel_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:label id="lab_dei_EntityEmergingGrowthCompany_label_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityEmergingGrowthCompany" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityEmergingGrowthCompany"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityEmergingGrowthCompany" xlink:to="lab_dei_EntityEmergingGrowthCompany" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_66038bb0-7867-453a-ad0b-c166804557ec_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherOwnershipInterestsUnitsOutstanding_7b2f99a6-69a9-4520-bc78-4a1407969898_terseLabel_en-US" xlink:label="lab_us-gaap_OtherOwnershipInterestsUnitsOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other ownership interests, units outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_OtherOwnershipInterestsUnitsOutstanding_label_en-US" xlink:label="lab_us-gaap_OtherOwnershipInterestsUnitsOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Ownership Interests, Units Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherOwnershipInterestsUnitsOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherOwnershipInterestsUnitsOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherOwnershipInterestsUnitsOutstanding" xlink:to="lab_us-gaap_OtherOwnershipInterestsUnitsOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_none_RegistrationStatementAuthorizedAggregateOfferingAmount_4a6abffa-51a8-4f73-9f5f-26d790b7f3ff_terseLabel_en-US" xlink:label="lab_none_RegistrationStatementAuthorizedAggregateOfferingAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Authorized offering amount</link:label>
    <link:label id="lab_none_RegistrationStatementAuthorizedAggregateOfferingAmount_label_en-US" xlink:label="lab_none_RegistrationStatementAuthorizedAggregateOfferingAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Registration Statement, Authorized Aggregate Offering Amount</link:label>
    <link:label id="lab_none_RegistrationStatementAuthorizedAggregateOfferingAmount_documentation_en-US" xlink:label="lab_none_RegistrationStatementAuthorizedAggregateOfferingAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Registration Statement, Authorized Aggregate Offering Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_RegistrationStatementAuthorizedAggregateOfferingAmount" xlink:href="none-20251231.xsd#none_RegistrationStatementAuthorizedAggregateOfferingAmount"/>
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    <link:label id="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember"/>
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    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_019b9da2-db0c-7ebb-8841-c62724952cb1_negatedNetLabel_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet" xlink:role="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="resource" xml:lang="en-US">Less unamortized deferred financing costs</link:label>
    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_6179d0d8-6e09-4890-87bc-0c80387b74c3_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Less: deferred financing costs, net</link:label>
    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_label_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Issuance Costs, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredFinanceCostsNet" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DeferredFinanceCostsNet"/>
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    <link:label id="lab_none_LindsayPrecastLLCMember_2f60e822-eecb-444d-a06a-3dca2bc3a193_terseLabel_en-US" xlink:label="lab_none_LindsayPrecastLLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lindsay Precast, LLC</link:label>
    <link:label id="lab_none_LindsayPrecastLLCMember_label_en-US" xlink:label="lab_none_LindsayPrecastLLCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lindsay Precast, LLC [Member]</link:label>
    <link:label id="lab_none_LindsayPrecastLLCMember_documentation_en-US" xlink:label="lab_none_LindsayPrecastLLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lindsay Precast, LLC</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_LindsayPrecastLLCMember" xlink:href="none-20251231.xsd#none_LindsayPrecastLLCMember"/>
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    <link:label id="lab_us-gaap_CommonClassCMember_c662298b-2514-4d72-8f55-2198c9c1c62c_terseLabel_en-US" xlink:label="lab_us-gaap_CommonClassCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Class C</link:label>
    <link:label id="lab_us-gaap_CommonClassCMember_1e4884aa-49a5-4f05-9821-dd3855a7d213_verboseLabel_en-US" xlink:label="lab_us-gaap_CommonClassCMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Class C common stock</link:label>
    <link:label id="lab_us-gaap_CommonClassCMember_label_en-US" xlink:label="lab_us-gaap_CommonClassCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Class C [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonClassCMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonClassCMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonClassCMember" xlink:to="lab_us-gaap_CommonClassCMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_513374d3-430c-4cc0-af73-b47c216098eb_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_103f02ae-5bcc-475a-a29e-300661950515_periodStartLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_8c3d51f9-d0be-403a-ba46-0994d0f4e417_periodEndLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonStockSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesOutstanding" xlink:to="lab_us-gaap_CommonStockSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_none_LesseeOperatingLeaseNumberOfRenewalOptions_7dc70e74-65ad-49d5-b00c-d80575ab6fe6_terseLabel_en-US" xlink:label="lab_none_LesseeOperatingLeaseNumberOfRenewalOptions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of operating leases with renewal options</link:label>
    <link:label id="lab_none_LesseeOperatingLeaseNumberOfRenewalOptions_label_en-US" xlink:label="lab_none_LesseeOperatingLeaseNumberOfRenewalOptions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessee, Operating Lease, Number Of Renewal Options</link:label>
    <link:label id="lab_none_LesseeOperatingLeaseNumberOfRenewalOptions_documentation_en-US" xlink:label="lab_none_LesseeOperatingLeaseNumberOfRenewalOptions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lessee, Operating Lease, Number Of Renewal Options</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_LesseeOperatingLeaseNumberOfRenewalOptions" xlink:href="none-20251231.xsd#none_LesseeOperatingLeaseNumberOfRenewalOptions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_LesseeOperatingLeaseNumberOfRenewalOptions" xlink:to="lab_none_LesseeOperatingLeaseNumberOfRenewalOptions" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeLossOnDerivative_cce929fc-9ae5-4028-b239-cb31e9f4f6b6_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLossOnDerivative" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrealized loss on derivative</link:label>
    <link:label id="lab_us-gaap_DerivativeLossOnDerivative_label_en-US" xlink:label="lab_us-gaap_DerivativeLossOnDerivative" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Loss on Derivative</link:label>
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    <link:label id="lab_us-gaap_DebtInstrumentIncreaseAccruedInterest_10638633-878d-411b-89d7-1ebea0be69e5_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentIncreaseAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued interest from December 31, 2024 to respective swap execution date</link:label>
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    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements_1bb9f6b9-7b17-4173-bd94-c62438a08d98_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buildings &amp; Improvements</link:label>
    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements_label_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost of Building and Improvements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements"/>
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    <link:label id="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year</link:label>
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    <link:label id="lab_none_ScheduleOfDistributionsAndAllocationsOfNetLossGainTableTextBlock_1e5dc975-4760-47a3-8ed0-f6348f0e716c_terseLabel_en-US" xlink:label="lab_none_ScheduleOfDistributionsAndAllocationsOfNetLossGainTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Distributions and Allocations of Net (Loss) Gain</link:label>
    <link:label id="lab_none_ScheduleOfDistributionsAndAllocationsOfNetLossGainTableTextBlock_label_en-US" xlink:label="lab_none_ScheduleOfDistributionsAndAllocationsOfNetLossGainTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Distributions and Allocations of Net (Loss) Gain [Table Text Block]</link:label>
    <link:label id="lab_none_ScheduleOfDistributionsAndAllocationsOfNetLossGainTableTextBlock_documentation_en-US" xlink:label="lab_none_ScheduleOfDistributionsAndAllocationsOfNetLossGainTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule of Distributions and Allocations of Net (Loss) Gain</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_ScheduleOfDistributionsAndAllocationsOfNetLossGainTableTextBlock" xlink:to="lab_none_ScheduleOfDistributionsAndAllocationsOfNetLossGainTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_b508d717-d80c-4c5b-a861-938758326400_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Intangible Assets Amortization</link:label>
    <link:label id="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock"/>
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    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract_9c2bc810-63be-4589-8c94-f00dffeb4c4f_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosure [Abstract]</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract"/>
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    <link:label id="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_490f8776-c45d-459e-9f1a-9d435b595cce_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts payable, accrued and other liabilities</link:label>
    <link:label id="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_4a57a947-3fec-4064-806f-95639ef07516_totalLabel_en-US" xlink:label="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Payable and Accrued Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:to="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressPostalZipCode_b727d481-9c38-423d-b293-a2c3ab371979_terseLabel_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:label id="lab_dei_EntityAddressPostalZipCode_label_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressPostalZipCode" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressPostalZipCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressPostalZipCode" xlink:to="lab_dei_EntityAddressPostalZipCode" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RestatementDeterminationDate_terseLabel_en-US" xlink:label="lab_ecd_RestatementDeterminationDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restatement Determination Date</link:label>
    <link:label id="lab_ecd_RestatementDeterminationDate_label_en-US" xlink:label="lab_ecd_RestatementDeterminationDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restatement Determination Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RestatementDeterminationDate" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_RestatementDeterminationDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RestatementDeterminationDate" xlink:to="lab_ecd_RestatementDeterminationDate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_393756d6-5d57-4193-a888-3481e55678d3_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basis spread on variable rate ( as a percent)</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Basis Spread on Variable Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:to="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherAssets_1b0c6e29-9b70-4ee5-934b-235fc9168cc3_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_OtherAssets_label_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssets" xlink:to="lab_us-gaap_OtherAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentInformationLineItems_6973e86f-794f-4306-ab36-f14880045072_terseLabel_en-US" xlink:label="lab_dei_DocumentInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Information [Line Items]</link:label>
    <link:label id="lab_dei_DocumentInformationLineItems_label_en-US" xlink:label="lab_dei_DocumentInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Line Items]</link:label>
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    <link:label id="lab_us-gaap_PreferredStockSharesIssued_27e75c55-035f-4d36-8a4c-87183530094a_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, shares issued (in shares)</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesIssued_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Shares Issued</link:label>
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    <link:label id="lab_ecd_PnsnAdjsSvcCstMember_terseLabel_en-US" xlink:label="lab_ecd_PnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pension Adjustments Service Cost</link:label>
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    <link:label id="lab_none_LeverageRatioEqualTo10Member_386529cc-83d4-425e-8d73-a22c5e9454fc_terseLabel_en-US" xlink:label="lab_none_LeverageRatioEqualTo10Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leverage Ratio, Equal To 10%</link:label>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherCurrentAssets_18582d4a-6da7-47fd-98e3-275232460dd6_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherCurrentAssets" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">(Increase) decrease in prepaid expenses and other assets</link:label>
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    <link:label id="lab_us-gaap_DividendsPayableAmountPerShare_2c0300f6-3d8f-4836-8a5a-81ae6bc10598_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsPayableAmountPerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annualized distribution rate (in usd per share)</link:label>
    <link:label id="lab_us-gaap_DividendsPayableAmountPerShare_label_en-US" xlink:label="lab_us-gaap_DividendsPayableAmountPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends Payable, Amount Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPayableAmountPerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DividendsPayableAmountPerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsPayableAmountPerShare" xlink:to="lab_us-gaap_DividendsPayableAmountPerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AllTradingArrangementsMember_terseLabel_en-US" xlink:label="lab_ecd_AllTradingArrangementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Trading Arrangements</link:label>
    <link:label id="lab_ecd_AllTradingArrangementsMember_label_en-US" xlink:label="lab_ecd_AllTradingArrangementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Trading Arrangements [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllTradingArrangementsMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AllTradingArrangementsMember"/>
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    <link:label id="lab_ecd_EqtyAwrdsAdjFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments, Footnote</link:label>
    <link:label id="lab_ecd_EqtyAwrdsAdjFnTextBlock_label_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsAdjFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_EqtyAwrdsAdjFnTextBlock"/>
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    <link:label id="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock_terseLabel_en-US" xlink:label="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Vs Peer Group</link:label>
    <link:label id="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock_label_en-US" xlink:label="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Vs Peer Group [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TotalShareholderRtnVsPeerGroupTextBlock"/>
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    <link:label id="lab_us-gaap_DerivativePremiumPaid_1e97aa77-a42e-4bd5-918a-3067db3cec47_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativePremiumPaid" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Premium paid</link:label>
    <link:label id="lab_us-gaap_DerivativePremiumPaid_label_en-US" xlink:label="lab_us-gaap_DerivativePremiumPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Premium Paid</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativePremiumPaid" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativePremiumPaid"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativePremiumPaid" xlink:to="lab_us-gaap_DerivativePremiumPaid" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact_10acf0ba-32b7-437b-925a-b2d45d9fe33a_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock dividends</link:label>
    <link:label id="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact_3158ef97-9129-4e0c-8605-6e2ec34f6e72_negatedLabel_en-US" xlink:label="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Preferred stock dividends</link:label>
    <link:label id="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact_label_en-US" xlink:label="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock Dividends, Income Statement Impact</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PreferredStockDividendsIncomeStatementImpact"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:to="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationDisclosureAbstract_e447f4f0-dbc6-4611-a6ef-00fedf43cd5a_terseLabel_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]</link:label>
    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationDisclosureAbstract_label_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]</link:label>
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    <link:label id="lab_none_DividendsPayableAmountPerSharePerMonth_53d8d4b7-bde6-410f-b70c-7f300d1d9e87_terseLabel_en-US" xlink:label="lab_none_DividendsPayableAmountPerSharePerMonth" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends rate per month (in usd per share)</link:label>
    <link:label id="lab_none_DividendsPayableAmountPerSharePerMonth_label_en-US" xlink:label="lab_none_DividendsPayableAmountPerSharePerMonth" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends Payable, Amount Per Share Per Month</link:label>
    <link:label id="lab_none_DividendsPayableAmountPerSharePerMonth_documentation_en-US" xlink:label="lab_none_DividendsPayableAmountPerSharePerMonth" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividends Payable, Amount Per Share Per Month</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_DividendsPayableAmountPerSharePerMonth" xlink:href="none-20251231.xsd#none_DividendsPayableAmountPerSharePerMonth"/>
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    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_2d612122-f952-4ee0-8983-1470e0eae006_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_none_LindsayDaconoMember_890c63f5-9c6d-424b-ae23-f3f6a82acb90_terseLabel_en-US" xlink:label="lab_none_LindsayDaconoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lindsay, Dacono</link:label>
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    <link:label id="lab_none_LindsayDaconoMember_documentation_en-US" xlink:label="lab_none_LindsayDaconoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lindsay Dacono</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_LindsayDaconoMember" xlink:href="none-20251231.xsd#none_LindsayDaconoMember"/>
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    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths_e99807b7-66b7-4fe0-9dda-edb5f953687d_negatedLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">2026</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_25686e8d-6337-4834-ae08-2d18bbcc8aa6_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by operating activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Operating Activity, Including Discontinued Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromInsuranceSettlementInvestingActivities_019b9cf2-b201-70ed-9432-dfeb78ccb505_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromInsuranceSettlementInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from the settlement of property-related insurance claims</link:label>
    <link:label id="lab_us-gaap_ProceedsFromInsuranceSettlementInvestingActivities_label_en-US" xlink:label="lab_us-gaap_ProceedsFromInsuranceSettlementInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Insurance Settlement, Investing Activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromInsuranceSettlementInvestingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProceedsFromInsuranceSettlementInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromInsuranceSettlementInvestingActivities" xlink:to="lab_us-gaap_ProceedsFromInsuranceSettlementInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BuildingImprovementsMember_f6a0b7ae-ad98-467e-9f67-95d9fc94785c_terseLabel_en-US" xlink:label="lab_us-gaap_BuildingImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Building Improvements</link:label>
    <link:label id="lab_us-gaap_BuildingImprovementsMember_label_en-US" xlink:label="lab_us-gaap_BuildingImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Building Improvements [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BuildingImprovementsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BuildingImprovementsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BuildingImprovementsMember" xlink:to="lab_us-gaap_BuildingImprovementsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_f148fa4f-8956-4d2d-8fb3-83d4fa46184d_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated useful lives (in years)</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Useful Life</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife"/>
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    <link:label id="lab_us-gaap_PreferredStockParOrStatedValuePerShare_2ec9141f-0c0a-478b-a00a-fc021e6c9a03_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock par value (in usd per share)</link:label>
    <link:label id="lab_us-gaap_PreferredStockParOrStatedValuePerShare_label_en-US" xlink:label="lab_us-gaap_PreferredStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Par or Stated Value Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockParOrStatedValuePerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PreferredStockParOrStatedValuePerShare"/>
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    <link:label id="lab_us-gaap_SubsequentEventMember_efa34f13-c1be-4722-adee-abab2e28b98e_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SubsequentEventMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventMember" xlink:to="lab_us-gaap_SubsequentEventMember" xlink:type="arc" order="1"/>
    <link:label id="lab_none_DisposalGroupIncludingDiscontinuedOperationConsiderationRepaymentOfMortgageFee_019cd657-4c78-75c5-a16d-72522384b16f_terseLabel_en-US" xlink:label="lab_none_DisposalGroupIncludingDiscontinuedOperationConsiderationRepaymentOfMortgageFee" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan prepayment fee</link:label>
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    <link:label id="lab_us-gaap_RealEstateLineItems_752ec7e0-7c18-492c-a35f-1aee81b99440_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate [Line Items]</link:label>
    <link:label id="lab_us-gaap_RealEstateLineItems_label_en-US" xlink:label="lab_us-gaap_RealEstateLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateLineItems" xlink:to="lab_us-gaap_RealEstateLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_7a8eabfc-0e14-463b-9457-78006ec74933_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Line Items]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:to="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Valuation Assumption Difference, Footnote</link:label>
    <link:label id="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock_label_en-US" xlink:label="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Valuation Assumption Difference, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_EquityValuationAssumptionDifferenceFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:to="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoTotalCompAmt_terseLabel_en-US" xlink:label="lab_ecd_PeoTotalCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO Total Compensation Amount</link:label>
    <link:label id="lab_ecd_PeoTotalCompAmt_label_en-US" xlink:label="lab_ecd_PeoTotalCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO Total Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoTotalCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PeoTotalCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeoTotalCompAmt" xlink:to="lab_ecd_PeoTotalCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongtermDebtTypeAxis_c5ad8a8a-cc14-41aa-ade6-24d8c41b1d3f_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term Debt, Type [Axis]</link:label>
    <link:label id="lab_us-gaap_LongtermDebtTypeAxis_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongtermDebtTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeAxis" xlink:to="lab_us-gaap_LongtermDebtTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MoneyMarketFundsMember_84c0e832-7508-4a9f-9c47-81cadbc1558f_terseLabel_en-US" xlink:label="lab_us-gaap_MoneyMarketFundsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Money Market Funds</link:label>
    <link:label id="lab_us-gaap_MoneyMarketFundsMember_label_en-US" xlink:label="lab_us-gaap_MoneyMarketFundsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Money Market Funds [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MoneyMarketFundsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MoneyMarketFundsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MoneyMarketFundsMember" xlink:to="lab_us-gaap_MoneyMarketFundsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementEquityComponentsAxis_1887cf4c-c776-4a60-a963-f00b2babe0f2_terseLabel_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Components [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementEquityComponentsAxis_label_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Components [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementEquityComponentsAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementEquityComponentsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementEquityComponentsAxis" xlink:to="lab_us-gaap_StatementEquityComponentsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_none_TenantImprovementMember_1a2cce3c-12b1-445a-b04f-ea0930204121_terseLabel_en-US" xlink:label="lab_none_TenantImprovementMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenant Improvement</link:label>
    <link:label id="lab_none_TenantImprovementMember_label_en-US" xlink:label="lab_none_TenantImprovementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tenant Improvement [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_TenantImprovementMember" xlink:href="none-20251231.xsd#none_TenantImprovementMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_TenantImprovementMember" xlink:to="lab_none_TenantImprovementMember" xlink:type="arc" order="1"/>
    <link:label id="lab_none_LeaseRenewalScenarioOneMember_c6b0c82e-911d-47ac-b4e9-aa3301308cb0_terseLabel_en-US" xlink:label="lab_none_LeaseRenewalScenarioOneMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lease Renewal, Scenario One</link:label>
    <link:label id="lab_none_LeaseRenewalScenarioOneMember_label_en-US" xlink:label="lab_none_LeaseRenewalScenarioOneMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lease Renewal, Scenario One [Member]</link:label>
    <link:label id="lab_none_LeaseRenewalScenarioOneMember_documentation_en-US" xlink:label="lab_none_LeaseRenewalScenarioOneMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lease Renewal, Scenario One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_LeaseRenewalScenarioOneMember" xlink:href="none-20251231.xsd#none_LeaseRenewalScenarioOneMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_LeaseRenewalScenarioOneMember" xlink:to="lab_none_LeaseRenewalScenarioOneMember" xlink:type="arc" order="1"/>
    <link:label id="lab_none_AmortizationOfDebtIssuanceCostsAndDiscounts_dc8bebd5-81bf-4aeb-8de5-c14e6e4ee1ba_terseLabel_en-US" xlink:label="lab_none_AmortizationOfDebtIssuanceCostsAndDiscounts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of deferred financing costs and premium/discount</link:label>
    <link:label id="lab_none_AmortizationOfDebtIssuanceCostsAndDiscounts_label_en-US" xlink:label="lab_none_AmortizationOfDebtIssuanceCostsAndDiscounts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization Of Debt Issuance Costs And Discounts</link:label>
    <link:label id="lab_none_AmortizationOfDebtIssuanceCostsAndDiscounts_documentation_en-US" xlink:label="lab_none_AmortizationOfDebtIssuanceCostsAndDiscounts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amortization Of Debt Issuance Costs And Discounts</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_AmortizationOfDebtIssuanceCostsAndDiscounts" xlink:href="none-20251231.xsd#none_AmortizationOfDebtIssuanceCostsAndDiscounts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_AmortizationOfDebtIssuanceCostsAndDiscounts" xlink:to="lab_none_AmortizationOfDebtIssuanceCostsAndDiscounts" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SeriesAMember_51cd933e-6758-4bef-a77b-8c730d4ba816_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series A</link:label>
    <link:label id="lab_us-gaap_SeriesAMember_label_en-US" xlink:label="lab_us-gaap_SeriesAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series A [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesAMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SeriesAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeriesAMember" xlink:to="lab_us-gaap_SeriesAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonRule10b51ArrAdoptedFlag_terseLabel_en-US" xlink:label="lab_ecd_NonRule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Adopted</link:label>
    <link:label id="lab_ecd_NonRule10b51ArrAdoptedFlag_label_en-US" xlink:label="lab_ecd_NonRule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Adopted [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonRule10b51ArrAdoptedFlag" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonRule10b51ArrAdoptedFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonRule10b51ArrAdoptedFlag" xlink:to="lab_ecd_NonRule10b51ArrAdoptedFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NumberOfReportableSegments_a3f156af-73e5-4053-a421-bec36a80d816_terseLabel_en-US" xlink:label="lab_us-gaap_NumberOfReportableSegments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of reportable segments</link:label>
    <link:label id="lab_us-gaap_NumberOfReportableSegments_label_en-US" xlink:label="lab_us-gaap_NumberOfReportableSegments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Reportable Segments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NumberOfReportableSegments" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NumberOfReportableSegments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NumberOfReportableSegments" xlink:to="lab_us-gaap_NumberOfReportableSegments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsForProceedsFromDepositsOnRealEstateAcquisitions_b16a972e-46fe-467e-a7ba-5ed2a9f033d5_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromDepositsOnRealEstateAcquisitions" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Sale deposits received, net of applied</link:label>
    <link:label id="lab_us-gaap_PaymentsForProceedsFromDepositsOnRealEstateAcquisitions_label_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromDepositsOnRealEstateAcquisitions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for (Proceeds from) Deposits on Real Estate Acquisitions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForProceedsFromDepositsOnRealEstateAcquisitions" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsForProceedsFromDepositsOnRealEstateAcquisitions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForProceedsFromDepositsOnRealEstateAcquisitions" xlink:to="lab_us-gaap_PaymentsForProceedsFromDepositsOnRealEstateAcquisitions" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestAndOtherIncome_019b9cab-7c0a-72d3-82ac-96fdce77ee0d_verboseLabel_en-US" xlink:label="lab_us-gaap_InterestAndOtherIncome" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Interest and other income</link:label>
    <link:label id="lab_us-gaap_InterestAndOtherIncome_label_en-US" xlink:label="lab_us-gaap_InterestAndOtherIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest and Other Income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestAndOtherIncome" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestAndOtherIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndOtherIncome" xlink:to="lab_us-gaap_InterestAndOtherIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressStateOrProvince_b97f65aa-9efc-491d-85d1-d1df9fe0756c_terseLabel_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:label id="lab_dei_EntityAddressStateOrProvince_label_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressStateOrProvince" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressStateOrProvince"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressStateOrProvince" xlink:to="lab_dei_EntityAddressStateOrProvince" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsCommonStock_932a5347-6898-4e3a-b2c7-8af166183515_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsCommonStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends declared</link:label>
    <link:label id="lab_us-gaap_DividendsCommonStock_label_en-US" xlink:label="lab_us-gaap_DividendsCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends, Common Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DividendsCommonStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsCommonStock" xlink:to="lab_us-gaap_DividendsCommonStock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SaleLeasebackTransactionNetBookValue_7faad299-1e66-4e2b-af13-544fffbd2d8b_terseLabel_en-US" xlink:label="lab_us-gaap_SaleLeasebackTransactionNetBookValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale leaseback transaction consideration</link:label>
    <link:label id="lab_us-gaap_SaleLeasebackTransactionNetBookValue_label_en-US" xlink:label="lab_us-gaap_SaleLeasebackTransactionNetBookValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Leaseback Transaction, Net Book Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SaleLeasebackTransactionNetBookValue" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SaleLeasebackTransactionNetBookValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SaleLeasebackTransactionNetBookValue" xlink:to="lab_us-gaap_SaleLeasebackTransactionNetBookValue" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_IndividualAxis_terseLabel_en-US" xlink:label="lab_ecd_IndividualAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Individual:</link:label>
    <link:label id="lab_ecd_IndividualAxis_label_en-US" xlink:label="lab_ecd_IndividualAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Individual [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_IndividualAxis" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_IndividualAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_IndividualAxis" xlink:to="lab_ecd_IndividualAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsFiscalYearMaturityAbstract_019cd2c2-1add-7b78-ad6d-5fc717fc194b_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsFiscalYearMaturityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amount</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsFiscalYearMaturityAbstract_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsFiscalYearMaturityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsFiscalYearMaturityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LessorOperatingLeasePaymentsFiscalYearMaturityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsFiscalYearMaturityAbstract" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsFiscalYearMaturityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsOfDividendsCommonStock_b515339e-3afd-4a58-99ce-8d5c8d7650dc_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsCommonStock" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Distributions paid to common stockholders and non-controlling interest holders</link:label>
    <link:label id="lab_us-gaap_PaymentsOfDividendsCommonStock_1e314c0d-2592-46fa-8ec4-95ffe8ec7274_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsCommonStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class C and Class X OP Units distributions paid</link:label>
    <link:label id="lab_us-gaap_PaymentsOfDividendsCommonStock_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Ordinary Dividends, Common Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfDividendsCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsOfDividendsCommonStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfDividendsCommonStock" xlink:to="lab_us-gaap_PaymentsOfDividendsCommonStock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentAnnualReport_019b9e55-927a-7d06-8a3f-7cb2c45dd218_terseLabel_en-US" xlink:label="lab_dei_DocumentAnnualReport" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Annual Report</link:label>
    <link:label id="lab_dei_DocumentAnnualReport_label_en-US" xlink:label="lab_dei_DocumentAnnualReport" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Annual Report</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentAnnualReport" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentAnnualReport"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentAnnualReport" xlink:to="lab_dei_DocumentAnnualReport" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AmortizationOfBelowMarketLease_2b89f331-fbe0-4340-bdf3-8a48f78d3e25_negatedLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfBelowMarketLease" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Amortization of (below) above market lease intangibles, net</link:label>
    <link:label id="lab_us-gaap_AmortizationOfBelowMarketLease_9482d6d2-ee54-49ac-bb69-4a08b8a364ee_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfBelowMarketLease" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of below market lease</link:label>
    <link:label id="lab_us-gaap_AmortizationOfBelowMarketLease_label_en-US" xlink:label="lab_us-gaap_AmortizationOfBelowMarketLease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Below Market Lease</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AmortizationOfBelowMarketLease" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AmortizationOfBelowMarketLease"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfBelowMarketLease" xlink:to="lab_us-gaap_AmortizationOfBelowMarketLease" xlink:type="arc" order="1"/>
    <link:label id="lab_none_AuthorityToIssueOfStock_fe37ffb0-0bbd-4a4d-80df-803a9721d782_terseLabel_en-US" xlink:label="lab_none_AuthorityToIssueOfStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issued common stock (in shares)</link:label>
    <link:label id="lab_none_AuthorityToIssueOfStock_label_en-US" xlink:label="lab_none_AuthorityToIssueOfStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Authority To Issue of Stock</link:label>
    <link:label id="lab_none_AuthorityToIssueOfStock_documentation_en-US" xlink:label="lab_none_AuthorityToIssueOfStock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The maximum number of stock issued by the company, permitted to be issued by an entity's charter and bylaws.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_AuthorityToIssueOfStock" xlink:href="none-20251231.xsd#none_AuthorityToIssueOfStock"/>
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    <link:label id="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery, Explanation of Impracticability</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery, Explanation of Impracticability [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:to="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_419a05bd-04d0-44ab-aabd-22bd9aa534e6_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership percentage by noncontrolling owners (as a percent)</link:label>
    <link:label id="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_label_en-US" xlink:label="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiary, Ownership Percentage, Noncontrolling Owner</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:to="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityInteractiveDataCurrent_3a2da272-af42-4eb2-a0d6-c60818ffb34c_terseLabel_en-US" xlink:label="lab_dei_EntityInteractiveDataCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Interactive Data Current</link:label>
    <link:label id="lab_dei_EntityInteractiveDataCurrent_label_en-US" xlink:label="lab_dei_EntityInteractiveDataCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Interactive Data Current</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityInteractiveDataCurrent" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityInteractiveDataCurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityInteractiveDataCurrent" xlink:to="lab_dei_EntityInteractiveDataCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree_8f218d12-7acd-44c2-a7a2-98aa3ee13bac_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeYearThree"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo_69be5e4c-b805-4287-a895-f5f6cfb6c7f9_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities_c0561e3c-691a-4cc1-ad9a-abbf9eb844be_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receipts from off-market interest rate derivatives</link:label>
    <link:label id="lab_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities_label_en-US" xlink:label="lab_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Derivative Instrument, Investing Activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities" xlink:to="lab_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_none_OfficeAndIndustrialMember_769ae5e4-2577-43f5-b087-ed78b004ed34_terseLabel_en-US" xlink:label="lab_none_OfficeAndIndustrialMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Office and Industrial</link:label>
    <link:label id="lab_none_OfficeAndIndustrialMember_label_en-US" xlink:label="lab_none_OfficeAndIndustrialMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Office And Industrial [Member]</link:label>
    <link:label id="lab_none_OfficeAndIndustrialMember_documentation_en-US" xlink:label="lab_none_OfficeAndIndustrialMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Office And Industrial</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_OfficeAndIndustrialMember" xlink:href="none-20251231.xsd#none_OfficeAndIndustrialMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_OfficeAndIndustrialMember" xlink:to="lab_none_OfficeAndIndustrialMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock_0fbd5deb-8a74-4b2c-9888-5aa04a062f84_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue Recognition</link:label>
    <link:label id="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue from Contract with Customer [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RevenueFromContractWithCustomerPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:to="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_none_DividendsAndDistributionsToNoncontrollingInterestHolders_02c73f51-ba06-4322-88b5-e3ec0be66d4c_negatedTerseLabel_en-US" xlink:label="lab_none_DividendsAndDistributionsToNoncontrollingInterestHolders" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Cash distributions declared, CS and non-controlling interests</link:label>
    <link:label id="lab_none_DividendsAndDistributionsToNoncontrollingInterestHolders_label_en-US" xlink:label="lab_none_DividendsAndDistributionsToNoncontrollingInterestHolders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends and Distributions to Noncontrolling Interest Holders</link:label>
    <link:label id="lab_none_DividendsAndDistributionsToNoncontrollingInterestHolders_documentation_en-US" xlink:label="lab_none_DividendsAndDistributionsToNoncontrollingInterestHolders" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividends and Distributions to Noncontrolling Interest Holders</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_DividendsAndDistributionsToNoncontrollingInterestHolders" xlink:href="none-20251231.xsd#none_DividendsAndDistributionsToNoncontrollingInterestHolders"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_DividendsAndDistributionsToNoncontrollingInterestHolders" xlink:to="lab_none_DividendsAndDistributionsToNoncontrollingInterestHolders" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1_73f5e59a-244e-4e08-989c-0ca5522ea31b_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average remaining amortization period</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Remaining Amortization Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1"/>
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    <link:label id="lab_none_BelowMarketLeaseIntangiblesNet_9e51fd6f-a2a2-457f-876c-27a2a45b5fcd_verboseLabel_en-US" xlink:label="lab_none_BelowMarketLeaseIntangiblesNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Below-market lease intangibles, net</link:label>
    <link:label id="lab_none_BelowMarketLeaseIntangiblesNet_label_en-US" xlink:label="lab_none_BelowMarketLeaseIntangiblesNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below-market Lease Intangibles, Net</link:label>
    <link:label id="lab_none_BelowMarketLeaseIntangiblesNet_documentation_en-US" xlink:label="lab_none_BelowMarketLeaseIntangiblesNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">It represents the amount of below-market lease intangibles, net.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_BelowMarketLeaseIntangiblesNet" xlink:href="none-20251231.xsd#none_BelowMarketLeaseIntangiblesNet"/>
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    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements_4aae2d76-78e0-4a3c-a0f2-a9e9aeb2d41e_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Costs Capitalized Subsequent to Acquisition</link:label>
    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements_label_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Improvements</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements" xlink:to="lab_us-gaap_RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_31addba9-ffb0-4f96-acdd-96d4eb38ecee_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Type [Axis]</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Lived Tangible Asset [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OwnershipDomain_87249cac-0a85-43d3-a203-1f49a9e36c4c_terseLabel_en-US" xlink:label="lab_srt_OwnershipDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership [Domain]</link:label>
    <link:label id="lab_srt_OwnershipDomain_label_en-US" xlink:label="lab_srt_OwnershipDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ownership [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OwnershipDomain" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_OwnershipDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OwnershipDomain" xlink:to="lab_srt_OwnershipDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand_c46ee087-4b42-41ba-b587-c3d241163d92_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land</link:label>
    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand_label_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost of Land</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand" xlink:to="lab_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfLand" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock_4d0c9ce9-d28f-45a8-83cf-d795e3e07377_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Rental Payments for Operating Leases</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_none_AdjustmentForReceiptsOnOffMarketInterestRateDerivatives_aa401ecf-9bc9-4f59-a989-5aa1437bcc3c_negatedTerseLabel_en-US" xlink:label="lab_none_AdjustmentForReceiptsOnOffMarketInterestRateDerivatives" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Adjustment for receipts from off-market interest rate derivatives</link:label>
    <link:label id="lab_none_AdjustmentForReceiptsOnOffMarketInterestRateDerivatives_label_en-US" xlink:label="lab_none_AdjustmentForReceiptsOnOffMarketInterestRateDerivatives" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment For Receipts On Off Market Interest Rate Derivatives</link:label>
    <link:label id="lab_none_AdjustmentForReceiptsOnOffMarketInterestRateDerivatives_documentation_en-US" xlink:label="lab_none_AdjustmentForReceiptsOnOffMarketInterestRateDerivatives" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjustment For Receipts On Off Market Interest Rate Derivatives</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_AdjustmentForReceiptsOnOffMarketInterestRateDerivatives" xlink:href="none-20251231.xsd#none_AdjustmentForReceiptsOnOffMarketInterestRateDerivatives"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_AdjustmentForReceiptsOnOffMarketInterestRateDerivatives" xlink:to="lab_none_AdjustmentForReceiptsOnOffMarketInterestRateDerivatives" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityCentralIndexKey_6cc43d2f-a71b-4e34-8853-4841416cbad9_terseLabel_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:label id="lab_dei_EntityCentralIndexKey_label_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCentralIndexKey" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityCentralIndexKey"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCentralIndexKey" xlink:to="lab_dei_EntityCentralIndexKey" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoName_terseLabel_en-US" xlink:label="lab_ecd_PeoName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO Name</link:label>
    <link:label id="lab_ecd_PeoName_label_en-US" xlink:label="lab_ecd_PeoName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoName" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PeoName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeoName" xlink:to="lab_ecd_PeoName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseNet_ea76eea5-18ad-4ed6-8fb8-390946909e26_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNet" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Net amount</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseNet_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseNet" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BelowMarketLeaseNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseNet" xlink:to="lab_us-gaap_BelowMarketLeaseNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_a9822b65-cf4c-471d-8e27-525aadc6a340_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Maturities of Long-term Debt</link:label>
    <link:label id="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Maturities of Long-Term Debt [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Revenues_4ae61d17-08f6-40e4-a0de-024aee8a2b6b_totalLabel_en-US" xlink:label="lab_us-gaap_Revenues" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total revenue</link:label>
    <link:label id="lab_us-gaap_Revenues_c400a287-fb5c-4d68-8c03-c99c6cf8cc4e_verboseLabel_en-US" xlink:label="lab_us-gaap_Revenues" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total revenue</link:label>
    <link:label id="lab_us-gaap_Revenues_label_en-US" xlink:label="lab_us-gaap_Revenues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenues</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Revenues" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_Revenues"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Revenues" xlink:to="lab_us-gaap_Revenues" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year</link:label>
    <link:label id="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember_label_en-US" xlink:label="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:to="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SupplementalCashFlowElementsAbstract_b7962add-4894-4758-9d01-cde31d2cedaf_terseLabel_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowElementsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Supplemental Disclosure of Cash Flow Information:</link:label>
    <link:label id="lab_us-gaap_SupplementalCashFlowElementsAbstract_label_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowElementsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Supplemental Cash Flow Elements [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SupplementalCashFlowElementsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SupplementalCashFlowElementsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SupplementalCashFlowElementsAbstract" xlink:to="lab_us-gaap_SupplementalCashFlowElementsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OutstandingAggtErrCompAmt_terseLabel_en-US" xlink:label="lab_ecd_OutstandingAggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Outstanding Aggregate Erroneous Compensation Amount</link:label>
    <link:label id="lab_ecd_OutstandingAggtErrCompAmt_label_en-US" xlink:label="lab_ecd_OutstandingAggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding Aggregate Erroneous Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OutstandingAggtErrCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_OutstandingAggtErrCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OutstandingAggtErrCompAmt" xlink:to="lab_ecd_OutstandingAggtErrCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_none_PaymentForAcquisitionRealEstateHeldForInvestmentShares_b7c55d11-dacc-4922-9fd8-f2c21015aee8_terseLabel_en-US" xlink:label="lab_none_PaymentForAcquisitionRealEstateHeldForInvestmentShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payment for property acquisition (in shares)</link:label>
    <link:label id="lab_none_PaymentForAcquisitionRealEstateHeldForInvestmentShares_label_en-US" xlink:label="lab_none_PaymentForAcquisitionRealEstateHeldForInvestmentShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payment for Acquisition, Real Estate, Held-for-Investment, Shares</link:label>
    <link:label id="lab_none_PaymentForAcquisitionRealEstateHeldForInvestmentShares_documentation_en-US" xlink:label="lab_none_PaymentForAcquisitionRealEstateHeldForInvestmentShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payment for Acquisition, Real Estate, Held-for-Investment, Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_PaymentForAcquisitionRealEstateHeldForInvestmentShares" xlink:href="none-20251231.xsd#none_PaymentForAcquisitionRealEstateHeldForInvestmentShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_PaymentForAcquisitionRealEstateHeldForInvestmentShares" xlink:to="lab_none_PaymentForAcquisitionRealEstateHeldForInvestmentShares" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OfficeBuildingMember_69070a7d-6369-4a7a-a4d8-ff1785d14b09_terseLabel_en-US" xlink:label="lab_srt_OfficeBuildingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Office</link:label>
    <link:label id="lab_srt_OfficeBuildingMember_label_en-US" xlink:label="lab_srt_OfficeBuildingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Office Building [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OfficeBuildingMember" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_OfficeBuildingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OfficeBuildingMember" xlink:to="lab_srt_OfficeBuildingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_none_ProductoJamestownMember_a7782fb0-0fcd-4748-928d-96f4abf7feed_terseLabel_en-US" xlink:label="lab_none_ProductoJamestownMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Producto, Jamestown</link:label>
    <link:label id="lab_none_ProductoJamestownMember_label_en-US" xlink:label="lab_none_ProductoJamestownMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Producto, Jamestown [Member]</link:label>
    <link:label id="lab_none_ProductoJamestownMember_documentation_en-US" xlink:label="lab_none_ProductoJamestownMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Producto, Jamestown</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_ProductoJamestownMember" xlink:href="none-20251231.xsd#none_ProductoJamestownMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_ProductoJamestownMember" xlink:to="lab_none_ProductoJamestownMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardExrcPrice_terseLabel_en-US" xlink:label="lab_ecd_AwardExrcPrice" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exercise Price</link:label>
    <link:label id="lab_ecd_AwardExrcPrice_label_en-US" xlink:label="lab_ecd_AwardExrcPrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Exercise Price</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardExrcPrice" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardExrcPrice"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardExrcPrice" xlink:to="lab_ecd_AwardExrcPrice" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityFilerCategory_0ce17d56-0033-4903-a77b-14cde8165657_terseLabel_en-US" xlink:label="lab_dei_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:label id="lab_dei_EntityFilerCategory_label_en-US" xlink:label="lab_dei_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityFilerCategory" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityFilerCategory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFilerCategory" xlink:to="lab_dei_EntityFilerCategory" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ClassOfStockDomain_0f748707-78d2-410f-b395-1adc2c8905b7_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Domain]</link:label>
    <link:label id="lab_us-gaap_ClassOfStockDomain_label_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfStockDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ClassOfStockDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockDomain" xlink:to="lab_us-gaap_ClassOfStockDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventTypeAxis_0609aad1-8ef1-46cf-89a1-a14b6bb1b4fc_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTypeAxis_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SubsequentEventTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTypeAxis" xlink:to="lab_us-gaap_SubsequentEventTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_none_PerformanceUnitsMember_d014bf99-dd50-46c3-99a5-1e7135879ca4_terseLabel_en-US" xlink:label="lab_none_PerformanceUnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performance Units</link:label>
    <link:label id="lab_none_PerformanceUnitsMember_label_en-US" xlink:label="lab_none_PerformanceUnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performance Units [Member]</link:label>
    <link:label id="lab_none_PerformanceUnitsMember_documentation_en-US" xlink:label="lab_none_PerformanceUnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Performance Units</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_PerformanceUnitsMember" xlink:href="none-20251231.xsd#none_PerformanceUnitsMember"/>
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    <link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration_139f2d00-7833-4743-9457-92895e2aa0a6_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contract sale price</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:to="lab_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardGrantDateFairValue_terseLabel_en-US" xlink:label="lab_ecd_AwardGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value as of Grant Date</link:label>
    <link:label id="lab_ecd_AwardGrantDateFairValue_label_en-US" xlink:label="lab_ecd_AwardGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Grant Date Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardGrantDateFairValue" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardGrantDateFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardGrantDateFairValue" xlink:to="lab_ecd_AwardGrantDateFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_371d6e81-5865-41b8-af9b-3981161eba25_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disposal Group, Held-for-sale, Not Discontinued Operations</link:label>
    <link:label id="lab_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_label_en-US" xlink:label="lab_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal Group, Held-for-Sale, Not Discontinued Operations [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember" xlink:to="lab_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable_a929e2a3-e52c-4a8a-9e6e-35e1cd771f64_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosures [Table]</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosures [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable" xlink:to="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount_6876fb6a-e7e1-4fae-b6ca-c5e27d03a6ff_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Impairment of real estate investment</link:label>
    <link:label id="lab_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount_label_en-US" xlink:label="lab_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Write-down or Reserve, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount"/>
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    <link:label id="lab_none_TermLoanMember_fb5cb96d-1784-4f2e-8752-a9b3adb44325_terseLabel_en-US" xlink:label="lab_none_TermLoanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan</link:label>
    <link:label id="lab_none_TermLoanMember_label_en-US" xlink:label="lab_none_TermLoanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan [Member]</link:label>
    <link:label id="lab_none_TermLoanMember_documentation_en-US" xlink:label="lab_none_TermLoanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Term Loan</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_TermLoanMember" xlink:href="none-20251231.xsd#none_TermLoanMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_TermLoanMember" xlink:to="lab_none_TermLoanMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CostsAndExpenses_a481f8dc-9893-4f65-80f9-68efc523913e_totalLabel_en-US" xlink:label="lab_us-gaap_CostsAndExpenses" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total expenses</link:label>
    <link:label id="lab_us-gaap_CostsAndExpenses_label_en-US" xlink:label="lab_us-gaap_CostsAndExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Costs and Expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostsAndExpenses" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CostsAndExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CostsAndExpenses" xlink:to="lab_us-gaap_CostsAndExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_beb8856a-7f8c-41ac-a3c3-087b671d7b67_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrecognized compensation expense</link:label>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:to="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SaleLeasebackTransactionDescriptionAxis_ff762054-f427-4926-b8a7-06e18d2067a7_terseLabel_en-US" xlink:label="lab_us-gaap_SaleLeasebackTransactionDescriptionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale Leaseback Transaction, Description [Axis]</link:label>
    <link:label id="lab_us-gaap_SaleLeasebackTransactionDescriptionAxis_label_en-US" xlink:label="lab_us-gaap_SaleLeasebackTransactionDescriptionAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Leaseback Transaction, Description [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SaleLeasebackTransactionDescriptionAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SaleLeasebackTransactionDescriptionAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SaleLeasebackTransactionDescriptionAxis" xlink:to="lab_us-gaap_SaleLeasebackTransactionDescriptionAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionLineItems_076d3d30-b9d3-426c-a4e2-e38f88fe1c64_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Line Items]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionLineItems_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyTransactionLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems" xlink:to="lab_us-gaap_RelatedPartyTransactionLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ChangedPeerGroupFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_ChangedPeerGroupFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changed Peer Group, Footnote</link:label>
    <link:label id="lab_ecd_ChangedPeerGroupFnTextBlock_label_en-US" xlink:label="lab_ecd_ChangedPeerGroupFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Changed Peer Group, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ChangedPeerGroupFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ChangedPeerGroupFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ChangedPeerGroupFnTextBlock" xlink:to="lab_ecd_ChangedPeerGroupFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_none_HusqvarnaMember_b14c6848-493c-4bf5-9204-208356fb1043_terseLabel_en-US" xlink:label="lab_none_HusqvarnaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Husqvarna</link:label>
    <link:label id="lab_none_HusqvarnaMember_label_en-US" xlink:label="lab_none_HusqvarnaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Husqvarna [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_HusqvarnaMember" xlink:href="none-20251231.xsd#none_HusqvarnaMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_HusqvarnaMember" xlink:to="lab_none_HusqvarnaMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquityNoteStockSplitConversionRatio1_7c9a2c1c-f39a-49fe-a984-5d576d359dd4_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteStockSplitConversionRatio1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock split, conversion ratio</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityNoteStockSplitConversionRatio1_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteStockSplitConversionRatio1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Note, Stock Split, Conversion Ratio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityNoteStockSplitConversionRatio1" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockholdersEquityNoteStockSplitConversionRatio1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityNoteStockSplitConversionRatio1" xlink:to="lab_us-gaap_StockholdersEquityNoteStockSplitConversionRatio1" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AdjToPeoCompFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AdjToPeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment To PEO Compensation, Footnote</link:label>
    <link:label id="lab_ecd_AdjToPeoCompFnTextBlock_label_en-US" xlink:label="lab_ecd_AdjToPeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment To PEO Compensation, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToPeoCompFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AdjToPeoCompFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToPeoCompFnTextBlock" xlink:to="lab_ecd_AdjToPeoCompFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrIndTitle_terseLabel_en-US" xlink:label="lab_ecd_TrdArrIndTitle" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Title</link:label>
    <link:label id="lab_ecd_TrdArrIndTitle_label_en-US" xlink:label="lab_ecd_TrdArrIndTitle" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement, Individual Title</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrIndTitle" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrIndTitle"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrIndTitle" xlink:to="lab_ecd_TrdArrIndTitle" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeerGroupTotalShareholderRtnAmt_terseLabel_en-US" xlink:label="lab_ecd_PeerGroupTotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Peer Group Total Shareholder Return Amount</link:label>
    <link:label id="lab_ecd_PeerGroupTotalShareholderRtnAmt_label_en-US" xlink:label="lab_ecd_PeerGroupTotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Peer Group Total Shareholder Return Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeerGroupTotalShareholderRtnAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PeerGroupTotalShareholderRtnAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeerGroupTotalShareholderRtnAmt" xlink:to="lab_ecd_PeerGroupTotalShareholderRtnAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PrepaidExpenseAndOtherAssets_66e4e500-2702-45cf-b26e-b7e07e57e17b_totalLabel_en-US" xlink:label="lab_us-gaap_PrepaidExpenseAndOtherAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_PrepaidExpenseAndOtherAssets_label_en-US" xlink:label="lab_us-gaap_PrepaidExpenseAndOtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prepaid Expense and Other Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PrepaidExpenseAndOtherAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PrepaidExpenseAndOtherAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PrepaidExpenseAndOtherAssets" xlink:to="lab_us-gaap_PrepaidExpenseAndOtherAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonPeoNeoMember_terseLabel_en-US" xlink:label="lab_ecd_NonPeoNeoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-PEO NEO</link:label>
    <link:label id="lab_ecd_NonPeoNeoMember_label_en-US" xlink:label="lab_ecd_NonPeoNeoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-PEO NEO [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonPeoNeoMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonPeoNeoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonPeoNeoMember" xlink:to="lab_ecd_NonPeoNeoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PrepaidExpenseAndOtherAssetsAbstract_329b0b0f-3b7f-416e-9366-a40e8d71b3b6_terseLabel_en-US" xlink:label="lab_us-gaap_PrepaidExpenseAndOtherAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prepaid Expenses and Other Assets</link:label>
    <link:label id="lab_us-gaap_PrepaidExpenseAndOtherAssetsAbstract_label_en-US" xlink:label="lab_us-gaap_PrepaidExpenseAndOtherAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prepaid Expense and Other Assets [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PrepaidExpenseAndOtherAssetsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PrepaidExpenseAndOtherAssetsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PrepaidExpenseAndOtherAssetsAbstract" xlink:to="lab_us-gaap_PrepaidExpenseAndOtherAssetsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockDividendRatePercentage_108ddb70-8895-4489-842a-a3fb8ef089c4_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockDividendRatePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, dividend rate, (in percent)</link:label>
    <link:label id="lab_us-gaap_PreferredStockDividendRatePercentage_label_en-US" xlink:label="lab_us-gaap_PreferredStockDividendRatePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Dividend Rate, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockDividendRatePercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PreferredStockDividendRatePercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockDividendRatePercentage" xlink:to="lab_us-gaap_PreferredStockDividendRatePercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsidiarySaleOfStockAxis_08ab9978-06de-422b-b096-2bb6070a90fa_terseLabel_en-US" xlink:label="lab_us-gaap_SubsidiarySaleOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of Stock [Axis]</link:label>
    <link:label id="lab_us-gaap_SubsidiarySaleOfStockAxis_label_en-US" xlink:label="lab_us-gaap_SubsidiarySaleOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale of Stock [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsidiarySaleOfStockAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SubsidiarySaleOfStockAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsidiarySaleOfStockAxis" xlink:to="lab_us-gaap_SubsidiarySaleOfStockAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LandMember_d5fbc650-d483-49ac-a7cc-3e21a287a044_terseLabel_en-US" xlink:label="lab_us-gaap_LandMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land</link:label>
    <link:label id="lab_us-gaap_LandMember_label_en-US" xlink:label="lab_us-gaap_LandMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Land [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LandMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LandMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LandMember" xlink:to="lab_us-gaap_LandMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract_2fd794ea-bc21-4ebb-9777-f8e720e4717b_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets related to real estate investments held for sale:</link:label>
    <link:label id="lab_us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract_label_en-US" xlink:label="lab_us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal Group, Including Discontinued Operation, Assets [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract" xlink:to="lab_us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperationAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_e0af442b-ed7f-47a3-a3be-bcfea8f9ff1f_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Award Types</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_none_RuMartinStreetSantaClaraMember_2ea38ac4-3490-46d4-a8c9-472dda64c5b7_terseLabel_en-US" xlink:label="lab_none_RuMartinStreetSantaClaraMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">RuMartin Street Santa Clara</link:label>
    <link:label id="lab_none_RuMartinStreetSantaClaraMember_label_en-US" xlink:label="lab_none_RuMartinStreetSantaClaraMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">RuMartin Street Santa Clara [Member]</link:label>
    <link:label id="lab_none_RuMartinStreetSantaClaraMember_documentation_en-US" xlink:label="lab_none_RuMartinStreetSantaClaraMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">RuMartin Street Santa Clara</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_RuMartinStreetSantaClaraMember" xlink:href="none-20251231.xsd#none_RuMartinStreetSantaClaraMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_RuMartinStreetSantaClaraMember" xlink:to="lab_none_RuMartinStreetSantaClaraMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsOfDebtExtinguishmentCosts_019c3276-e2fa-7128-a0a4-9e2fa8608002_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDebtExtinguishmentCosts" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Payment of loan prepayment fees</link:label>
    <link:label id="lab_us-gaap_PaymentsOfDebtExtinguishmentCosts_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDebtExtinguishmentCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payment for Debt Extinguishment or Debt Prepayment Cost</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfDebtExtinguishmentCosts" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsOfDebtExtinguishmentCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfDebtExtinguishmentCosts" xlink:to="lab_us-gaap_PaymentsOfDebtExtinguishmentCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_none_CameronToolLansingMIMember_10fbab7c-cb4d-4abd-93d1-3013c3156910_terseLabel_en-US" xlink:label="lab_none_CameronToolLansingMIMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cameron Tool, Lansing, MI</link:label>
    <link:label id="lab_none_CameronToolLansingMIMember_label_en-US" xlink:label="lab_none_CameronToolLansingMIMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cameron Tool, Lansing, MI [Member]</link:label>
    <link:label id="lab_none_CameronToolLansingMIMember_documentation_en-US" xlink:label="lab_none_CameronToolLansingMIMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cameron Tool, Lansing, MI</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_CameronToolLansingMIMember" xlink:href="none-20251231.xsd#none_CameronToolLansingMIMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_CameronToolLansingMIMember" xlink:to="lab_none_CameronToolLansingMIMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterest_a2630b9a-ff14-4187-8cfe-772ec5e68a24_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling interests in the Operating Partnership</link:label>
    <link:label id="lab_us-gaap_MinorityInterest_label_en-US" xlink:label="lab_us-gaap_MinorityInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MinorityInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterest" xlink:to="lab_us-gaap_MinorityInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EqtyAwrdsAdjsMember_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments</link:label>
    <link:label id="lab_ecd_EqtyAwrdsAdjsMember_label_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsAdjsMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_EqtyAwrdsAdjsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EqtyAwrdsAdjsMember" xlink:to="lab_ecd_EqtyAwrdsAdjsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive_019b9e8c-0530-72f6-a57e-b8fd4baeaa0b_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, after Year Five</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PnsnBnftsAdjFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_PnsnBnftsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pension Benefits Adjustments, Footnote</link:label>
    <link:label id="lab_ecd_PnsnBnftsAdjFnTextBlock_label_en-US" xlink:label="lab_ecd_PnsnBnftsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pension Benefits Adjustments, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PnsnBnftsAdjFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PnsnBnftsAdjFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PnsnBnftsAdjFnTextBlock" xlink:to="lab_ecd_PnsnBnftsAdjFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_none_StraightLineRents_2ab74394-fc2a-479c-a83e-8fa4c0f2f0ef_verboseLabel_en-US" xlink:label="lab_none_StraightLineRents" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Straight-line rent</link:label>
    <link:label id="lab_none_StraightLineRents_label_en-US" xlink:label="lab_none_StraightLineRents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Straight Line Rents</link:label>
    <link:label id="lab_none_StraightLineRents_documentation_en-US" xlink:label="lab_none_StraightLineRents" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of straight line rent receivable.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_StraightLineRents" xlink:href="none-20251231.xsd#none_StraightLineRents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_StraightLineRents" xlink:to="lab_none_StraightLineRents" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OutstandingRecoveryCompAmt_terseLabel_en-US" xlink:label="lab_ecd_OutstandingRecoveryCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Amount</link:label>
    <link:label id="lab_ecd_OutstandingRecoveryCompAmt_label_en-US" xlink:label="lab_ecd_OutstandingRecoveryCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding Recovery Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OutstandingRecoveryCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_OutstandingRecoveryCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OutstandingRecoveryCompAmt" xlink:to="lab_ecd_OutstandingRecoveryCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_913a0989-47b8-4ec6-aacb-1b0734850883_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentNameDomain" xlink:to="lab_us-gaap_DebtInstrumentNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateDisclosureTextBlock_789ac7c1-5197-4c38-9704-1a6b469eefde_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">REAL ESTATE INVESTMENTS</link:label>
    <link:label id="lab_us-gaap_RealEstateDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_RealEstateDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateDisclosureTextBlock" xlink:to="lab_us-gaap_RealEstateDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StraightLineRent_2b0971e2-65e7-48e4-a84d-23a9dd55f5fe_negatedLabel_en-US" xlink:label="lab_us-gaap_StraightLineRent" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Amortization of deferred rents</link:label>
    <link:label id="lab_us-gaap_StraightLineRent_label_en-US" xlink:label="lab_us-gaap_StraightLineRent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Straight Line Rent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StraightLineRent" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StraightLineRent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StraightLineRent" xlink:to="lab_us-gaap_StraightLineRent" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RecoveryOfErrCompDisclosureLineItems_label_en-US" xlink:label="lab_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Recovery of Erroneously Awarded Compensation Disclosure [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_RecoveryOfErrCompDisclosureLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:to="lab_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccruedRentCurrentAndNoncurrent_f162b92d-8974-47b0-b40e-8cafd5c4971a_verboseLabel_en-US" xlink:label="lab_us-gaap_AccruedRentCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Unearned rent</link:label>
    <link:label id="lab_us-gaap_AccruedRentCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_AccruedRentCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Rent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccruedRentCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccruedRentCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccruedRentCurrentAndNoncurrent" xlink:to="lab_us-gaap_AccruedRentCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MnpiDiscTimedForCompValFlag_terseLabel_en-US" xlink:label="lab_ecd_MnpiDiscTimedForCompValFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">MNPI Disclosure Timed for Compensation Value</link:label>
    <link:label id="lab_ecd_MnpiDiscTimedForCompValFlag_label_en-US" xlink:label="lab_ecd_MnpiDiscTimedForCompValFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">MNPI Disclosure Timed for Compensation Value [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_MnpiDiscTimedForCompValFlag" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_MnpiDiscTimedForCompValFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_MnpiDiscTimedForCompValFlag" xlink:to="lab_ecd_MnpiDiscTimedForCompValFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_none_OtherRevenueProperty_a6434c16-f645-4ae8-aa66-59175086bb63_terseLabel_en-US" xlink:label="lab_none_OtherRevenueProperty" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other property</link:label>
    <link:label id="lab_none_OtherRevenueProperty_label_en-US" xlink:label="lab_none_OtherRevenueProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Revenue, Property</link:label>
    <link:label id="lab_none_OtherRevenueProperty_documentation_en-US" xlink:label="lab_none_OtherRevenueProperty" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Revenue, Property</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_OtherRevenueProperty" xlink:href="none-20251231.xsd#none_OtherRevenueProperty"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_OtherRevenueProperty" xlink:to="lab_none_OtherRevenueProperty" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis_90af3153-45a8-4335-97fe-ef908a45e837_terseLabel_en-US" xlink:label="lab_us-gaap_DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distribution Type [Axis]</link:label>
    <link:label id="lab_us-gaap_DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis_label_en-US" xlink:label="lab_us-gaap_DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distribution Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis"/>
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    <link:label id="lab_none_SaleDepositsLiability_a63414e4-fa5c-42fb-afd3-50fb51970738_terseLabel_en-US" xlink:label="lab_none_SaleDepositsLiability" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale deposits</link:label>
    <link:label id="lab_none_SaleDepositsLiability_label_en-US" xlink:label="lab_none_SaleDepositsLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Deposits Liability</link:label>
    <link:label id="lab_none_SaleDepositsLiability_documentation_en-US" xlink:label="lab_none_SaleDepositsLiability" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sale Deposits Liability</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_SaleDepositsLiability" xlink:href="none-20251231.xsd#none_SaleDepositsLiability"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_SaleDepositsLiability" xlink:to="lab_none_SaleDepositsLiability" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentsIncorporatedByReferenceTextBlock_019c324b-2d78-7e70-a4ba-e6e302425eb3_terseLabel_en-US" xlink:label="lab_dei_DocumentsIncorporatedByReferenceTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Documents Incorporated by Reference</link:label>
    <link:label id="lab_dei_DocumentsIncorporatedByReferenceTextBlock_label_en-US" xlink:label="lab_dei_DocumentsIncorporatedByReferenceTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Documents Incorporated by Reference [Text Block]</link:label>
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    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances_59f7befe-d645-41aa-99f5-09923e4106f8_terseLabel_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Encumbrances</link:label>
    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances_label_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Amount of Encumbrances</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances" xlink:to="lab_srt_RealEstateAndAccumulatedDepreciationAmountOfEncumbrances" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DepositAssets_17cce566-5cc7-484e-a64a-d31ce2366db5_terseLabel_en-US" xlink:label="lab_us-gaap_DepositAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Purchase deposits</link:label>
    <link:label id="lab_us-gaap_DepositAssets_label_en-US" xlink:label="lab_us-gaap_DepositAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deposit Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepositAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DepositAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepositAssets" xlink:to="lab_us-gaap_DepositAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_none_AdvisorFeesMember_57931df5-689d-4c48-83ea-927f276af9ce_terseLabel_en-US" xlink:label="lab_none_AdvisorFeesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Company&#8217;s share in TIC asset management fee expense</link:label>
    <link:label id="lab_none_AdvisorFeesMember_label_en-US" xlink:label="lab_none_AdvisorFeesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Advisor Fees [Member]</link:label>
    <link:label id="lab_none_AdvisorFeesMember_documentation_en-US" xlink:label="lab_none_AdvisorFeesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Advisor fees</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_AdvisorFeesMember" xlink:href="none-20251231.xsd#none_AdvisorFeesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_AdvisorFeesMember" xlink:to="lab_none_AdvisorFeesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_09adbf8b-9f2d-4dae-b067-fd750dc0ea26_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated other comprehensive income</link:label>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net of Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_95919051-65bb-43ca-a551-ff3d32367451_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationMortgageNotesPayablesNet_34d7655a-58b8-4aed-8de0-7e7561700ddc_terseLabel_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationMortgageNotesPayablesNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage note payable, net</link:label>
    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationMortgageNotesPayablesNet_label_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationMortgageNotesPayablesNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment Summarized Financial Information Mortgage Notes Payables Net</link:label>
    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationMortgageNotesPayablesNet_documentation_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationMortgageNotesPayablesNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of mortgage notes payables reported by an equity method investment of the entity.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_EquityMethodInvestmentSummarizedFinancialInformationMortgageNotesPayablesNet" xlink:href="none-20251231.xsd#none_EquityMethodInvestmentSummarizedFinancialInformationMortgageNotesPayablesNet"/>
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    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_019b9db6-0c00-7c06-b8d1-f45caa3403c0_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2030</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Five</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive"/>
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    <link:label id="lab_none_LindsayMember_7d2c3c49-7091-4f10-a583-a21df703831e_terseLabel_en-US" xlink:label="lab_none_LindsayMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lindsay</link:label>
    <link:label id="lab_none_LindsayMember_label_en-US" xlink:label="lab_none_LindsayMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lindsay [Member]</link:label>
    <link:label id="lab_none_LindsayMember_documentation_en-US" xlink:label="lab_none_LindsayMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lindsay</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_LindsayMember" xlink:href="none-20251231.xsd#none_LindsayMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_LindsayMember" xlink:to="lab_none_LindsayMember" xlink:type="arc" order="1"/>
    <link:label id="lab_none_ClassCOPUnitsMember_c37273b7-fb3c-45e8-abce-2dbb51c8c798_terseLabel_en-US" xlink:label="lab_none_ClassCOPUnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class C OP Units</link:label>
    <link:label id="lab_none_ClassCOPUnitsMember_1286db5b-b2ca-4908-8366-b3cfa92a3f20_verboseLabel_en-US" xlink:label="lab_none_ClassCOPUnitsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Class C OP Units</link:label>
    <link:label id="lab_none_ClassCOPUnitsMember_label_en-US" xlink:label="lab_none_ClassCOPUnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class C OP Units [Member]</link:label>
    <link:label id="lab_none_ClassCOPUnitsMember_documentation_en-US" xlink:label="lab_none_ClassCOPUnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Class C OP Units</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_ClassCOPUnitsMember" xlink:href="none-20251231.xsd#none_ClassCOPUnitsMember"/>
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    <link:label id="lab_ecd_AggtPnsnAdjsSvcCstMember_terseLabel_en-US" xlink:label="lab_ecd_AggtPnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Pension Adjustments Service Cost</link:label>
    <link:label id="lab_ecd_AggtPnsnAdjsSvcCstMember_label_en-US" xlink:label="lab_ecd_AggtPnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Pension Adjustments Service Cost [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtPnsnAdjsSvcCstMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AggtPnsnAdjsSvcCstMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AggtPnsnAdjsSvcCstMember" xlink:to="lab_ecd_AggtPnsnAdjsSvcCstMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract_ba83e8dd-e0cb-4202-b18b-657195cca1d3_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities related to real estate investments held for sale:</link:label>
    <link:label id="lab_us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract_label_en-US" xlink:label="lab_us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal Group, Including Discontinued Operation, Liabilities [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract" xlink:to="lab_us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_none_DisposalGroupIncludingDiscontinuedOperationRealEstateInvestmentPropertyAccumulatedDepreciation_cce66cf0-1a6e-4252-a49f-3d08d905ec41_negatedTerseLabel_en-US" xlink:label="lab_none_DisposalGroupIncludingDiscontinuedOperationRealEstateInvestmentPropertyAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Accumulated depreciation and amortization</link:label>
    <link:label id="lab_none_DisposalGroupIncludingDiscontinuedOperationRealEstateInvestmentPropertyAccumulatedDepreciation_label_en-US" xlink:label="lab_none_DisposalGroupIncludingDiscontinuedOperationRealEstateInvestmentPropertyAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal Group, Including Discontinued Operation, Real Estate Investment Property, Accumulated Depreciation</link:label>
    <link:label id="lab_none_DisposalGroupIncludingDiscontinuedOperationRealEstateInvestmentPropertyAccumulatedDepreciation_documentation_en-US" xlink:label="lab_none_DisposalGroupIncludingDiscontinuedOperationRealEstateInvestmentPropertyAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disposal Group, Including Discontinued Operation, Real Estate Investment Property, Accumulated Depreciation</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_DisposalGroupIncludingDiscontinuedOperationRealEstateInvestmentPropertyAccumulatedDepreciation" xlink:to="lab_none_DisposalGroupIncludingDiscontinuedOperationRealEstateInvestmentPropertyAccumulatedDepreciation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_cad28b02-066e-4602-a229-4042920fc326_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Unrealized loss on interest rate derivatives</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_52671838-65ae-47ba-ae78-10ce94448c55_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative, change in fair value</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax_f03d3dd2-7bf7-453c-a6fe-a34d206d9a05_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Amortization of unrealized gain interest rate swap valuation</link:label>
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    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenses_1d18e9ef-d7da-4a51-b2dc-8d3f82030db6_terseLabel_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest expense</link:label>
    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenses_label_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Interest Expenses</link:label>
    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenses_documentation_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenses" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of interest expense reported by an equity method investment of the entity.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenses" xlink:href="none-20251231.xsd#none_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenses" xlink:to="lab_none_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_fe3d9db9-969c-4bfc-a145-40c9217df389_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets by Major Class [Axis]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets by Major Class [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MinimumMember_05274880-1199-40be-b5f0-f49af0353088_terseLabel_en-US" xlink:label="lab_srt_MinimumMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum</link:label>
    <link:label id="lab_srt_MinimumMember_label_en-US" xlink:label="lab_srt_MinimumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MinimumMember" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MinimumMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MinimumMember" xlink:to="lab_srt_MinimumMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CoSelectedMeasureName_terseLabel_en-US" xlink:label="lab_ecd_CoSelectedMeasureName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Company Selected Measure Name</link:label>
    <link:label id="lab_ecd_CoSelectedMeasureName_label_en-US" xlink:label="lab_ecd_CoSelectedMeasureName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Company Selected Measure Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CoSelectedMeasureName" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_CoSelectedMeasureName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CoSelectedMeasureName" xlink:to="lab_ecd_CoSelectedMeasureName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtDisclosureTextBlock_9d729272-bfd5-49a9-a4b8-fc7dd09e47aa_terseLabel_en-US" xlink:label="lab_us-gaap_DebtDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">DEBT</link:label>
    <link:label id="lab_us-gaap_DebtDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_DebtDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtDisclosureTextBlock" xlink:to="lab_us-gaap_DebtDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrSecuritiesAggAvailAmt_terseLabel_en-US" xlink:label="lab_ecd_TrdArrSecuritiesAggAvailAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Available</link:label>
    <link:label id="lab_ecd_TrdArrSecuritiesAggAvailAmt_label_en-US" xlink:label="lab_ecd_TrdArrSecuritiesAggAvailAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement, Securities Aggregate Available Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrSecuritiesAggAvailAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrSecuritiesAggAvailAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrSecuritiesAggAvailAmt" xlink:to="lab_ecd_TrdArrSecuritiesAggAvailAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest_b0e8d1fe-418e-493a-8931-f373560d63f1_terseLabel_en-US" xlink:label="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership interest (as a percent)</link:label>
    <link:label id="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest_label_en-US" xlink:label="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest" xlink:to="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockAppreciationRightsSARSMember_terseLabel_en-US" xlink:label="lab_us-gaap_StockAppreciationRightsSARSMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock Appreciation Rights (SARs)</link:label>
    <link:label id="lab_us-gaap_StockAppreciationRightsSARSMember_label_en-US" xlink:label="lab_us-gaap_StockAppreciationRightsSARSMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Appreciation Rights (SARs) [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockAppreciationRightsSARSMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockAppreciationRightsSARSMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockAppreciationRightsSARSMember" xlink:to="lab_us-gaap_StockAppreciationRightsSARSMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsPayableCurrentAndNoncurrent_040a2aa9-5921-4290-ab22-1df24ae6cb0c_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends payable</link:label>
    <link:label id="lab_us-gaap_DividendsPayableCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends Payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DividendsPayableCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:to="lab_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetsMember_471f038e-70c6-4efd-ab4a-617fd6cbadc6_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:label id="lab_us-gaap_AssetsMember_label_en-US" xlink:label="lab_us-gaap_AssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AssetsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsMember" xlink:to="lab_us-gaap_AssetsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_309d115b-dea4-4819-94a0-031dd85f087e_totalLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net (loss) income available to common stockholders and noncontrolling interests used in diluted net (loss) income per share/unit</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Diluted</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:to="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:type="arc" order="1"/>
    <link:label id="lab_none_VacantSanDiegoCAMember_019c6a3e-3a1b-7287-a6b0-25c49723309b_terseLabel_en-US" xlink:label="lab_none_VacantSanDiegoCAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vacant, San Diego, CA</link:label>
    <link:label id="lab_none_VacantSanDiegoCAMember_label_en-US" xlink:label="lab_none_VacantSanDiegoCAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vacant, San Diego, CA [Member]</link:label>
    <link:label id="lab_none_VacantSanDiegoCAMember_documentation_en-US" xlink:label="lab_none_VacantSanDiegoCAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Vacant, San Diego, CA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_VacantSanDiegoCAMember" xlink:href="none-20251231.xsd#none_VacantSanDiegoCAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_VacantSanDiegoCAMember" xlink:to="lab_none_VacantSanDiegoCAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_none_RealEstatePropertyMember_efc1a456-1fb1-4492-bc92-c489d203ba27_terseLabel_en-US" xlink:label="lab_none_RealEstatePropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Property</link:label>
    <link:label id="lab_none_RealEstatePropertyMember_label_en-US" xlink:label="lab_none_RealEstatePropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Property [Member]</link:label>
    <link:label id="lab_none_RealEstatePropertyMember_documentation_en-US" xlink:label="lab_none_RealEstatePropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Property</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_RealEstatePropertyMember" xlink:href="none-20251231.xsd#none_RealEstatePropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_RealEstatePropertyMember" xlink:to="lab_none_RealEstatePropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_fa63fa41-e25e-464a-87eb-4050f6df70f6_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">COMMITMENTS AND CONTINGENCIES</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_none_ProductoPropertyMember_87b5420b-e548-44f6-a23e-61331470139e_terseLabel_en-US" xlink:label="lab_none_ProductoPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Producto Holdings, LLC</link:label>
    <link:label id="lab_none_ProductoPropertyMember_label_en-US" xlink:label="lab_none_ProductoPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Producto Property [Member]</link:label>
    <link:label id="lab_none_ProductoPropertyMember_documentation_en-US" xlink:label="lab_none_ProductoPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Producto Property</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_ProductoPropertyMember" xlink:href="none-20251231.xsd#none_ProductoPropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_ProductoPropertyMember" xlink:to="lab_none_ProductoPropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_a54dcff0-9928-420c-ba9f-b7ddc2ca590f_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diluted (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_e6752a8c-1a54-4663-9f01-93280596fe6b_totalLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Weighted average shares and units outstanding - diluted (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Diluted</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_none_LeaseRenewalScenarioAxis_7dad26ba-c7cb-490f-8bbb-3318e840a01b_terseLabel_en-US" xlink:label="lab_none_LeaseRenewalScenarioAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lease Renewal Scenario [Axis]</link:label>
    <link:label id="lab_none_LeaseRenewalScenarioAxis_label_en-US" xlink:label="lab_none_LeaseRenewalScenarioAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lease Renewal Scenario [Axis]</link:label>
    <link:label id="lab_none_LeaseRenewalScenarioAxis_documentation_en-US" xlink:label="lab_none_LeaseRenewalScenarioAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lease Renewal Scenario</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_LeaseRenewalScenarioAxis" xlink:href="none-20251231.xsd#none_LeaseRenewalScenarioAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_LeaseRenewalScenarioAxis" xlink:to="lab_none_LeaseRenewalScenarioAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SegmentReportingPolicyPolicyTextBlock_7850c7dc-2be4-4700-a374-0f8acea3d1de_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segments</link:label>
    <link:label id="lab_us-gaap_SegmentReportingPolicyPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SegmentReportingPolicyPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:to="lab_us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonGaapMeasureDescriptionTextBlock_terseLabel_en-US" xlink:label="lab_ecd_NonGaapMeasureDescriptionTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-GAAP Measure Description</link:label>
    <link:label id="lab_ecd_NonGaapMeasureDescriptionTextBlock_label_en-US" xlink:label="lab_ecd_NonGaapMeasureDescriptionTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-GAAP Measure Description [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonGaapMeasureDescriptionTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonGaapMeasureDescriptionTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonGaapMeasureDescriptionTextBlock" xlink:to="lab_ecd_NonGaapMeasureDescriptionTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntitySmallBusiness_972a8690-3401-4dbb-9fc9-a6c6816b5fe5_terseLabel_en-US" xlink:label="lab_dei_EntitySmallBusiness" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Small Business</link:label>
    <link:label id="lab_dei_EntitySmallBusiness_label_en-US" xlink:label="lab_dei_EntitySmallBusiness" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Small Business</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntitySmallBusiness" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntitySmallBusiness"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntitySmallBusiness" xlink:to="lab_dei_EntitySmallBusiness" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsOfStockIssuanceCosts_f53f1ab0-5d1a-4e3b-9a9c-5c44a0d59fbe_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfStockIssuanceCosts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net of sales commission</link:label>
    <link:label id="lab_us-gaap_PaymentsOfStockIssuanceCosts_label_en-US" xlink:label="lab_us-gaap_PaymentsOfStockIssuanceCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Stock Issuance Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfStockIssuanceCosts" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsOfStockIssuanceCosts"/>
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    <link:label id="lab_none_FujifilmDimatixInc.Member_6613e8e7-2598-40b2-aaaf-7b81d95b0acb_terseLabel_en-US" xlink:label="lab_none_FujifilmDimatixInc.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fujifilm Dimatix, Inc.</link:label>
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    <link:label id="lab_us-gaap_PreferredStockSharesOutstanding_9787204d-2bc5-4dfd-8a07-1e9b1e580dc8_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, shares outstanding (in shares)</link:label>
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    <link:label id="lab_us-gaap_PreferredStockSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Shares Outstanding</link:label>
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    <link:label id="lab_us-gaap_LineOfCreditFacilityCommitmentFeeAmount_bd6ba4ed-d095-45da-93c8-8d6a75e114a1_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityCommitmentFeeAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unused commitment fees</link:label>
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    <link:label id="lab_us-gaap_DistributionPayable_label_en-US" xlink:label="lab_us-gaap_DistributionPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distribution Payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DistributionPayable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DistributionPayable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DistributionPayable" xlink:to="lab_us-gaap_DistributionPayable" xlink:type="arc" order="1"/>
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    <link:label id="lab_us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_7911e1bb-fe0e-4a4a-bc85-412dc31c82c1_terseLabel_en-US" xlink:label="lab_us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Asset and Rental Income Concentration</link:label>
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    <link:label id="lab_none_ImpairmentReversalOfRealEstateProperties_11632c32-36e7-406a-b8ad-a5d2672385db_terseLabel_en-US" xlink:label="lab_none_ImpairmentReversalOfRealEstateProperties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment of real estate investment property</link:label>
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    <link:label id="lab_ecd_AwardUndrlygSecuritiesAmt_terseLabel_en-US" xlink:label="lab_ecd_AwardUndrlygSecuritiesAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Underlying Securities</link:label>
    <link:label id="lab_ecd_AwardUndrlygSecuritiesAmt_label_en-US" xlink:label="lab_ecd_AwardUndrlygSecuritiesAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Underlying Securities Amount</link:label>
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    <link:label id="lab_us-gaap_EquityComponentDomain_label_en-US" xlink:label="lab_us-gaap_EquityComponentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
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    <link:label id="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_6902ded4-67ba-481b-a11e-e72a8b1e723f_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents [Domain]</link:label>
    <link:label id="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_label_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember"/>
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    <link:label id="lab_us-gaap_FixturesAndEquipmentGross_8a4028c2-8681-4f45-ab98-0fd2c4bf28f6_terseLabel_en-US" xlink:label="lab_us-gaap_FixturesAndEquipmentGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equipment</link:label>
    <link:label id="lab_us-gaap_FixturesAndEquipmentGross_label_en-US" xlink:label="lab_us-gaap_FixturesAndEquipmentGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixtures and Equipment, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FixturesAndEquipmentGross" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FixturesAndEquipmentGross"/>
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    <link:label id="lab_none_ValtirLimaMember_77a8532b-a7c3-41e2-8129-1e01a2d335af_terseLabel_en-US" xlink:label="lab_none_ValtirLimaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Valtir, Lima</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_none_ValtirLimaMember" xlink:href="none-20251231.xsd#none_ValtirLimaMember"/>
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    <link:label id="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures, Table</link:label>
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    <link:label id="lab_us-gaap_CashUninsuredAmount_7be13227-1ec2-4a2b-a69e-d5279a53da5b_terseLabel_en-US" xlink:label="lab_us-gaap_CashUninsuredAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Uninsured amount</link:label>
    <link:label id="lab_us-gaap_CashUninsuredAmount_label_en-US" xlink:label="lab_us-gaap_CashUninsuredAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash, Uninsured Amount</link:label>
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    <link:label id="lab_none_NumberOfRealEstatePropertiesSold_documentation_en-US" xlink:label="lab_none_NumberOfRealEstatePropertiesSold" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of Real Estate Properties Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_NumberOfRealEstatePropertiesSold" xlink:href="none-20251231.xsd#none_NumberOfRealEstatePropertiesSold"/>
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    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_c226ed1e-974d-4869-b835-8a72b7b61806_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total equity</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
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    <link:label id="lab_us-gaap_TreasuryStockAcquiredAverageCostPerShare_afdf77a6-3357-4bfb-a562-3a136fb7d6a6_terseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockAcquiredAverageCostPerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Average cost per share of stock shares repurchased (in usd per share)</link:label>
    <link:label id="lab_us-gaap_TreasuryStockAcquiredAverageCostPerShare_label_en-US" xlink:label="lab_us-gaap_TreasuryStockAcquiredAverageCostPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares Acquired, Average Cost Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TreasuryStockAcquiredAverageCostPerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_TreasuryStockAcquiredAverageCostPerShare"/>
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    <link:label id="lab_dei_DocumentType_5e918803-52c5-44b1-86be-6e699c655a1e_terseLabel_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:label id="lab_dei_DocumentType_label_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
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    <link:label id="lab_us-gaap_EarningsPerShareTextBlock_55daada3-353a-4a18-ba66-fbcbf6f37a29_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">EARNINGS (LOSS) PER SHARE</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareTextBlock_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EarningsPerShareTextBlock"/>
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    <link:label id="lab_ecd_OutstandingRecoveryIndName_terseLabel_en-US" xlink:label="lab_ecd_OutstandingRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_OutstandingRecoveryIndName_label_en-US" xlink:label="lab_ecd_OutstandingRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding Recovery, Individual Name</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OutstandingRecoveryIndName" xlink:to="lab_ecd_OutstandingRecoveryIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdditionalPaidInCapital_dd5b6bd2-5f95-472d-a7d0-c53ae8340165_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional paid-in-capital</link:label>
    <link:label id="lab_us-gaap_AdditionalPaidInCapital_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Paid in Capital</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapital" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AdditionalPaidInCapital"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapital" xlink:to="lab_us-gaap_AdditionalPaidInCapital" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetAcquisitionDomain_f70cd004-e7b9-41ff-bb9b-aaca38a6b42a_terseLabel_en-US" xlink:label="lab_us-gaap_AssetAcquisitionDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Domain]</link:label>
    <link:label id="lab_us-gaap_AssetAcquisitionDomain_label_en-US" xlink:label="lab_us-gaap_AssetAcquisitionDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetAcquisitionDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AssetAcquisitionDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetAcquisitionDomain" xlink:to="lab_us-gaap_AssetAcquisitionDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RevenueFromContractWithCustomerMember_e170e86b-d795-4413-bb0e-53bf875a8520_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueFromContractWithCustomerMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rental Income</link:label>
    <link:label id="lab_us-gaap_RevenueFromContractWithCustomerMember_label_en-US" xlink:label="lab_us-gaap_RevenueFromContractWithCustomerMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue from Contract with Customer Benchmark [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueFromContractWithCustomerMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RevenueFromContractWithCustomerMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenueFromContractWithCustomerMember" xlink:to="lab_us-gaap_RevenueFromContractWithCustomerMember" xlink:type="arc" order="1"/>
    <link:label id="lab_none_PaymentForAcquisitionRealEstateHeldForInvestmentCash_464396b7-7efe-4b9e-91fb-efb5e0fb3018_terseLabel_en-US" xlink:label="lab_none_PaymentForAcquisitionRealEstateHeldForInvestmentCash" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payment for property acquisition, cash</link:label>
    <link:label id="lab_none_PaymentForAcquisitionRealEstateHeldForInvestmentCash_label_en-US" xlink:label="lab_none_PaymentForAcquisitionRealEstateHeldForInvestmentCash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payment for Acquisition, Real Estate, Held-for-Investment, Cash</link:label>
    <link:label id="lab_none_PaymentForAcquisitionRealEstateHeldForInvestmentCash_documentation_en-US" xlink:label="lab_none_PaymentForAcquisitionRealEstateHeldForInvestmentCash" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payment for Acquisition, Real Estate, Held-for-Investment, Cash</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_PaymentForAcquisitionRealEstateHeldForInvestmentCash" xlink:href="none-20251231.xsd#none_PaymentForAcquisitionRealEstateHeldForInvestmentCash"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_PaymentForAcquisitionRealEstateHeldForInvestmentCash" xlink:to="lab_none_PaymentForAcquisitionRealEstateHeldForInvestmentCash" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetAcquisitionConsiderationTransferred_5ed4ee4a-e7f8-452a-9156-8d528056b37e_terseLabel_en-US" xlink:label="lab_us-gaap_AssetAcquisitionConsiderationTransferred" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset acquisition, consideration transferred</link:label>
    <link:label id="lab_us-gaap_AssetAcquisitionConsiderationTransferred_label_en-US" xlink:label="lab_us-gaap_AssetAcquisitionConsiderationTransferred" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition, Consideration Transferred</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetAcquisitionConsiderationTransferred" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AssetAcquisitionConsiderationTransferred"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetAcquisitionConsiderationTransferred" xlink:to="lab_us-gaap_AssetAcquisitionConsiderationTransferred" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RangeAxis_2a04f554-79a6-4fd5-81d3-8f09fe841fc5_terseLabel_en-US" xlink:label="lab_srt_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Axis]</link:label>
    <link:label id="lab_srt_RangeAxis_label_en-US" xlink:label="lab_srt_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeAxis" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RangeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeAxis" xlink:to="lab_srt_RangeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures_dbb50f94-f008-452c-ae6b-ac9e4dd90f5c_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unconsolidated investment in a real estate property</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investments, Unconsolidated Real Estate and Other Joint Ventures</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures"/>
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    <link:label id="lab_srt_StockRepurchaseProgramAuthorizedAmount1_019cd6e3-0da8-7f87-9897-6bfc0ae9260f_terseLabel_en-US" xlink:label="lab_srt_StockRepurchaseProgramAuthorizedAmount1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum amount of shares that may be repurchased</link:label>
    <link:label id="lab_srt_StockRepurchaseProgramAuthorizedAmount1_label_en-US" xlink:label="lab_srt_StockRepurchaseProgramAuthorizedAmount1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Repurchase Program, Authorized, Amount</link:label>
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    <link:label id="lab_none_StockRepurchasedDuringPeriodSharesRepurchasedPercentOfSharesIssued_af6e1d50-9154-4dc0-a603-23559f7008d0_terseLabel_en-US" xlink:label="lab_none_StockRepurchasedDuringPeriodSharesRepurchasedPercentOfSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchase of common stock (in percent)</link:label>
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    <link:label id="lab_none_StockRepurchasedDuringPeriodSharesRepurchasedPercentOfSharesIssued_documentation_en-US" xlink:label="lab_none_StockRepurchasedDuringPeriodSharesRepurchasedPercentOfSharesIssued" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Stock Repurchased During Period, Shares Repurchased, Percent Of Shares Issued</link:label>
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    <link:label id="lab_us-gaap_DerivativeFixedInterestRate_e6e1cd56-f96e-4b55-924f-b176038468aa_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeFixedInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed rate</link:label>
    <link:label id="lab_us-gaap_DerivativeFixedInterestRate_label_en-US" xlink:label="lab_us-gaap_DerivativeFixedInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Fixed Interest Rate</link:label>
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    <link:label id="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_c40753c9-0c8c-45a7-b90c-c6fbc29413f9_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disposal Group Name [Axis]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis"/>
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    <link:label id="lab_none_AvairMember_61d130ba-af70-49cd-91cd-6cd76e40e316_terseLabel_en-US" xlink:label="lab_none_AvairMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">AvAir</link:label>
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    <link:label id="lab_ecd_PeerGroupIssuersFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_PeerGroupIssuersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Peer Group Issuers, Footnote</link:label>
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    <link:label id="lab_us-gaap_PreferredStockRedemptionPricePerShare_d4b4078d-2823-4981-92d1-45370abddc6d_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockRedemptionPricePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, redemption price per share (in usd per share)</link:label>
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    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears_019b9e82-d04f-74bf-89f8-404819608e28_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2030</link:label>
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    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationCashAndCashEquivalents_5807f930-c389-4ce2-90ff-54c4eb0655f8_terseLabel_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
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    <link:label id="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction_83b3afab-dd8b-42c4-8687-6be3d3a92da0_terseLabel_en-US" xlink:label="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares sold in offering (in shares)</link:label>
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    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan_59295472-c352-4311-a212-a521d500e8f3_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issuance of common stock - distribution reinvestments</link:label>
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    <link:label id="lab_us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock_43debebf-747c-48a0-a267-cbb1c757aa28_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">BUSINESS AND ORGANIZATION</link:label>
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    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour_4b75d0d9-80d4-4b3c-bb10-0f0a770108e3_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">2029</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_d567f3f0-49d9-4348-9d24-c668fb50c29a_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">UNCONSOLIDATED INVESTMENT IN A REAL ESTATE PROPERTY</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments and Joint Ventures Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EquityMethodInvestmentsDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:to="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent_da1a8699-3bad-401a-852b-84ec2cc34925_terseLabel_en-US" xlink:label="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prepaid expenses</link:label>
    <link:label id="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prepaid Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PrepaidExpenseCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:to="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_none_RealEstateInvestmentsNetIncludingRealEstateHeldForSale_a5c8b805-4c20-4e62-a374-e42eb6763173_terseLabel_en-US" xlink:label="lab_none_RealEstateInvestmentsNetIncludingRealEstateHeldForSale" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate net investment portfolio</link:label>
    <link:label id="lab_none_RealEstateInvestmentsNetIncludingRealEstateHeldForSale_label_en-US" xlink:label="lab_none_RealEstateInvestmentsNetIncludingRealEstateHeldForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investments, Net, Including Real Estate Held-For-Sale</link:label>
    <link:label id="lab_none_RealEstateInvestmentsNetIncludingRealEstateHeldForSale_documentation_en-US" xlink:label="lab_none_RealEstateInvestmentsNetIncludingRealEstateHeldForSale" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Investments, Net, Including Real Estate Held-For-Sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_RealEstateInvestmentsNetIncludingRealEstateHeldForSale" xlink:href="none-20251231.xsd#none_RealEstateInvestmentsNetIncludingRealEstateHeldForSale"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_RealEstateInvestmentsNetIncludingRealEstateHeldForSale" xlink:to="lab_none_RealEstateInvestmentsNetIncludingRealEstateHeldForSale" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_WhollyOwnedPropertiesMember_7167530d-6e00-414c-9499-61e4ae3cf44f_terseLabel_en-US" xlink:label="lab_us-gaap_WhollyOwnedPropertiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Wholly Owned Properties</link:label>
    <link:label id="lab_us-gaap_WhollyOwnedPropertiesMember_label_en-US" xlink:label="lab_us-gaap_WhollyOwnedPropertiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Wholly Owned Properties [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WhollyOwnedPropertiesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_WhollyOwnedPropertiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WhollyOwnedPropertiesMember" xlink:to="lab_us-gaap_WhollyOwnedPropertiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TreasuryStockValueAbstract_3dea9cea-075e-44db-af50-98f02fe21be1_terseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockValueAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Treasury stock</link:label>
    <link:label id="lab_us-gaap_TreasuryStockValueAbstract_label_en-US" xlink:label="lab_us-gaap_TreasuryStockValueAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Treasury Stock, Value [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TreasuryStockValueAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_TreasuryStockValueAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockValueAbstract" xlink:to="lab_us-gaap_TreasuryStockValueAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromSaleOfEquitySecuritiesFvNi_0d3e8ef8-30c8-4380-a457-33b07851b33a_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfEquitySecuritiesFvNi" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net proceeds from sale of investment in common stock</link:label>
    <link:label id="lab_us-gaap_ProceedsFromSaleOfEquitySecuritiesFvNi_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfEquitySecuritiesFvNi" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale of Equity Securities, FV-NI</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromSaleOfEquitySecuritiesFvNi" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProceedsFromSaleOfEquitySecuritiesFvNi"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleOfEquitySecuritiesFvNi" xlink:to="lab_us-gaap_ProceedsFromSaleOfEquitySecuritiesFvNi" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_072ef04c-c50f-4eab-9bb9-b6dc479c63ef_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:type="arc" order="1"/>
    <link:label id="lab_none_SummitSteelReadingPAMember_bb020a0f-3fd6-40b4-90ba-fa235f56b484_terseLabel_en-US" xlink:label="lab_none_SummitSteelReadingPAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summit Steel, Reading, PA</link:label>
    <link:label id="lab_none_SummitSteelReadingPAMember_label_en-US" xlink:label="lab_none_SummitSteelReadingPAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Summit Steel, Reading, PA [Member]</link:label>
    <link:label id="lab_none_SummitSteelReadingPAMember_documentation_en-US" xlink:label="lab_none_SummitSteelReadingPAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Summit Steel, Reading, PA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_SummitSteelReadingPAMember" xlink:href="none-20251231.xsd#none_SummitSteelReadingPAMember"/>
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    <link:label id="lab_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent_e7eeb905-b9ff-48ba-a667-d37526aa0d08_verboseLabel_en-US" xlink:label="lab_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Accrued expenses</link:label>
    <link:label id="lab_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccruedLiabilitiesCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" xlink:to="lab_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_none_ValtirFortWorthMember_cde86556-7d13-4298-b050-9c0f363a788d_terseLabel_en-US" xlink:label="lab_none_ValtirFortWorthMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Valtir, Fort Worth</link:label>
    <link:label id="lab_none_ValtirFortWorthMember_label_en-US" xlink:label="lab_none_ValtirFortWorthMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Valtir, Fort Worth [Member]</link:label>
    <link:label id="lab_none_ValtirFortWorthMember_documentation_en-US" xlink:label="lab_none_ValtirFortWorthMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Valtir, Fort Worth</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_ValtirFortWorthMember" xlink:href="none-20251231.xsd#none_ValtirFortWorthMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_ValtirFortWorthMember" xlink:to="lab_none_ValtirFortWorthMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_799ff612-83fd-4393-91c0-67737bc5b4d3_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Face Value</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_3c071022-8a21-4d15-b519-33fecfbc2244_netLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Long-term debt</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_00e625fc-3e67-4ac5-8702-4b97c346c032_totalLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total principal</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentCarryingAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount" xlink:to="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_none_LeaseRenewalScenarioTwoMember_fae6afbc-0560-485f-9a6d-927aba966490_terseLabel_en-US" xlink:label="lab_none_LeaseRenewalScenarioTwoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lease Renewal, Scenario Two</link:label>
    <link:label id="lab_none_LeaseRenewalScenarioTwoMember_label_en-US" xlink:label="lab_none_LeaseRenewalScenarioTwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lease Renewal, Scenario Two [Member]</link:label>
    <link:label id="lab_none_LeaseRenewalScenarioTwoMember_documentation_en-US" xlink:label="lab_none_LeaseRenewalScenarioTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lease Renewal, Scenario Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_LeaseRenewalScenarioTwoMember" xlink:href="none-20251231.xsd#none_LeaseRenewalScenarioTwoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_LeaseRenewalScenarioTwoMember" xlink:to="lab_none_LeaseRenewalScenarioTwoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityWellKnownSeasonedIssuer_019c3249-7f1d-75a7-b80a-346b7cc2ad2b_terseLabel_en-US" xlink:label="lab_dei_EntityWellKnownSeasonedIssuer" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
    <link:label id="lab_dei_EntityWellKnownSeasonedIssuer_label_en-US" xlink:label="lab_dei_EntityWellKnownSeasonedIssuer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityWellKnownSeasonedIssuer" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityWellKnownSeasonedIssuer"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityWellKnownSeasonedIssuer" xlink:to="lab_dei_EntityWellKnownSeasonedIssuer" xlink:type="arc" order="1"/>
    <link:label id="lab_none_L3HarrisMember_4aa9031d-4ec4-46c1-8d19-2b351171692f_terseLabel_en-US" xlink:label="lab_none_L3HarrisMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">L3Harris</link:label>
    <link:label id="lab_none_L3HarrisMember_label_en-US" xlink:label="lab_none_L3HarrisMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">L3Harris [Member]</link:label>
    <link:label id="lab_none_L3HarrisMember_documentation_en-US" xlink:label="lab_none_L3HarrisMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">L3Harris</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_L3HarrisMember" xlink:href="none-20251231.xsd#none_L3HarrisMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_L3HarrisMember" xlink:to="lab_none_L3HarrisMember" xlink:type="arc" order="1"/>
    <link:label id="lab_none_SECSchedule1228RealEstateCompaniesInvestmentInRealEstateAccumulatedDepreciationWriteDownOrReserveAmount_019c7578-efcd-7735-9593-c537e36c8371_terseLabel_en-US" xlink:label="lab_none_SECSchedule1228RealEstateCompaniesInvestmentInRealEstateAccumulatedDepreciationWriteDownOrReserveAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment of real estate investment</link:label>
    <link:label id="lab_none_SECSchedule1228RealEstateCompaniesInvestmentInRealEstateAccumulatedDepreciationWriteDownOrReserveAmount_label_en-US" xlink:label="lab_none_SECSchedule1228RealEstateCompaniesInvestmentInRealEstateAccumulatedDepreciationWriteDownOrReserveAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment In Real Estate, Accumulated Depreciation, Write-Down Or Reserve, Amount</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_none_SECSchedule1228RealEstateCompaniesInvestmentInRealEstateAccumulatedDepreciationWriteDownOrReserveAmount" xlink:href="none-20251231.xsd#none_SECSchedule1228RealEstateCompaniesInvestmentInRealEstateAccumulatedDepreciationWriteDownOrReserveAmount"/>
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    <link:label id="lab_none_AuditInformationAbstract_label_en-US" xlink:label="lab_none_AuditInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Audit Information [Abstract]</link:label>
    <link:label id="lab_none_AuditInformationAbstract_documentation_en-US" xlink:label="lab_none_AuditInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Audit Information [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_AuditInformationAbstract" xlink:href="none-20251231.xsd#none_AuditInformationAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_AuditInformationAbstract" xlink:to="lab_none_AuditInformationAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrExpirationDate_terseLabel_en-US" xlink:label="lab_ecd_TrdArrExpirationDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expiration Date</link:label>
    <link:label id="lab_ecd_TrdArrExpirationDate_label_en-US" xlink:label="lab_ecd_TrdArrExpirationDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement Expiration Date</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrExpirationDate" xlink:to="lab_ecd_TrdArrExpirationDate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateAccumulatedDepreciation_880f8d10-91d0-43e8-9897-2427387bd45f_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Depreciation and Amortization</link:label>
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    <link:label id="lab_us-gaap_RealEstateAccumulatedDepreciation_0467e74a-025b-47a4-8868-defb32871905_negatedPeriodEndLabel_en-US" xlink:label="lab_us-gaap_RealEstateAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="resource" xml:lang="en-US">Balance at end of year</link:label>
    <link:label id="lab_us-gaap_RealEstateAccumulatedDepreciation_label_en-US" xlink:label="lab_us-gaap_RealEstateAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation</link:label>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_019b9e88-8af2-7699-a170-d54a106c49e8_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2030</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year Five</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive"/>
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    <link:label id="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction_4eef0d58-aa29-412e-ba02-8df79e3f5b1b_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Amounts of Transaction</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyTransactionAmountsOfTransaction"/>
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    <link:label id="lab_us-gaap_EquitySecuritiesFvNiUnrealizedGainLoss_0c237031-6a41-4f63-ad06-f2b3e62d2079_terseLabel_en-US" xlink:label="lab_us-gaap_EquitySecuritiesFvNiUnrealizedGainLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loss on equity investments</link:label>
    <link:label id="lab_us-gaap_EquitySecuritiesFvNiUnrealizedGainLoss_a41fa695-1772-46d8-9dbe-6bbbca7610d5_negatedLabel_en-US" xlink:label="lab_us-gaap_EquitySecuritiesFvNiUnrealizedGainLoss" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Loss on equity investments</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquitySecuritiesFvNiUnrealizedGainLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EquitySecuritiesFvNiUnrealizedGainLoss"/>
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    <link:label id="lab_us-gaap_RealEstateCostOfRealEstateSold_313bd5ab-89f7-42ea-b7e2-d5b267fb36b3_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_RealEstateCostOfRealEstateSold" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Dispositions</link:label>
    <link:label id="lab_us-gaap_RealEstateCostOfRealEstateSold_label_en-US" xlink:label="lab_us-gaap_RealEstateCostOfRealEstateSold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Cost of Investment in Real Estate Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateCostOfRealEstateSold" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateCostOfRealEstateSold"/>
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    <link:label id="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1_02cd0f61-4813-438b-bd60-1ce2f935c609_terseLabel_en-US" xlink:label="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average remaining contractual term</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1"/>
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    <link:label id="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock_terseLabel_en-US" xlink:label="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Net Income</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_CompActuallyPaidVsNetIncomeTextBlock"/>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_a78ab5d2-39ab-49a5-9a13-88b8aab11665_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">(Increase) decrease in tenant rent and other receivables</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Accounts Receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable"/>
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    <link:label id="lab_us-gaap_SeriesAPreferredStockMember_cfae34ff-0ede-4cab-a97f-149c42a38866_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesAPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series A Preferred Stock</link:label>
    <link:label id="lab_us-gaap_SeriesAPreferredStockMember_label_en-US" xlink:label="lab_us-gaap_SeriesAPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series A Preferred Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesAPreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SeriesAPreferredStockMember"/>
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    <link:label id="lab_dei_EntityCurrentReportingStatus_2be2f8d8-f561-413a-bf81-e42a4887c528_terseLabel_en-US" xlink:label="lab_dei_EntityCurrentReportingStatus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:label id="lab_dei_EntityCurrentReportingStatus_label_en-US" xlink:label="lab_dei_EntityCurrentReportingStatus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCurrentReportingStatus" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityCurrentReportingStatus"/>
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    <link:label id="lab_ecd_AwardsCloseToMnpiDiscTable_terseLabel_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardsCloseToMnpiDiscTable" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardsCloseToMnpiDiscTable"/>
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    <link:label id="lab_us-gaap_StatementOfFinancialPositionAbstract_0df8f76a-b3fd-4e31-b98e-9591c4b33e33_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfFinancialPositionAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Financial Position [Abstract]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfFinancialPositionAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementOfFinancialPositionAbstract"/>
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    <link:label id="lab_ecd_ExecutiveCategoryAxis_terseLabel_en-US" xlink:label="lab_ecd_ExecutiveCategoryAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Executive Category:</link:label>
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    <link:label id="lab_none_SJElectroSystemsAshlandOHMember_cde4d77d-fc5c-44b0-a7d7-224a46569fcd_terseLabel_en-US" xlink:label="lab_none_SJElectroSystemsAshlandOHMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">S J Electro Systems Ashland, TX</link:label>
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    <link:label id="lab_us-gaap_NetIncomeLossAllocatedToLimitedPartners_21e34810-6dfe-45b8-8344-2613b99dcfb1_terseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAllocatedToLimitedPartners" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class C and Class X OP Units net (loss) income allocation</link:label>
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    <link:label id="lab_us-gaap_InterestExpense_e060a0b4-022d-4042-99a9-81968a38e86d_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest expense</link:label>
    <link:label id="lab_us-gaap_InterestExpense_label_en-US" xlink:label="lab_us-gaap_InterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Operating and Nonoperating</link:label>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_e7f5b4e7-24dc-4554-92cf-f5a4ca2cc0c0_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Major Class Name [Domain]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Major Class Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_none_SaintPaulMinnesotaIndustrialPropertyMember_019c36b3-e056-73df-b2fd-e43be640a19f_terseLabel_en-US" xlink:label="lab_none_SaintPaulMinnesotaIndustrialPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Saint Paul Industrial Property, Minnesota</link:label>
    <link:label id="lab_none_SaintPaulMinnesotaIndustrialPropertyMember_label_en-US" xlink:label="lab_none_SaintPaulMinnesotaIndustrialPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Saint Paul, Minnesota Industrial Property [Member]</link:label>
    <link:label id="lab_none_SaintPaulMinnesotaIndustrialPropertyMember_documentation_en-US" xlink:label="lab_none_SaintPaulMinnesotaIndustrialPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Saint Paul, Minnesota Industrial Property</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_SaintPaulMinnesotaIndustrialPropertyMember" xlink:href="none-20251231.xsd#none_SaintPaulMinnesotaIndustrialPropertyMember"/>
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    <link:label id="lab_none_TorrentTampaFLMember_019c6a40-e188-7571-94d0-edf50caa5b9f_terseLabel_en-US" xlink:label="lab_none_TorrentTampaFLMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Torrent, Tampa, FL</link:label>
    <link:label id="lab_none_TorrentTampaFLMember_label_en-US" xlink:label="lab_none_TorrentTampaFLMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Torrent, Tampa, FL [Member]</link:label>
    <link:label id="lab_none_TorrentTampaFLMember_documentation_en-US" xlink:label="lab_none_TorrentTampaFLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Torrent, Tampa, FL</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_TorrentTampaFLMember" xlink:href="none-20251231.xsd#none_TorrentTampaFLMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_TorrentTampaFLMember" xlink:to="lab_none_TorrentTampaFLMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicByCommonClassTable_019c6a72-b3fb-7649-8872-4659581b86a4_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicByCommonClassTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings Per Share [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicByCommonClassTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicByCommonClassTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Basic, by Common Class, Including Two-Class Method [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEarningsPerShareBasicByCommonClassTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfEarningsPerShareBasicByCommonClassTable"/>
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    <link:label id="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments, Excluding Value Reported in Compensation Table</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember"/>
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    <link:label id="lab_none_RealEstateInvestmentNumberOfRentableSquareFeet_c573d37c-23b4-4a85-9633-41d6e80659f1_terseLabel_en-US" xlink:label="lab_none_RealEstateInvestmentNumberOfRentableSquareFeet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of square feet of aggregate leasable space (in square foot)</link:label>
    <link:label id="lab_none_RealEstateInvestmentNumberOfRentableSquareFeet_label_en-US" xlink:label="lab_none_RealEstateInvestmentNumberOfRentableSquareFeet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment, Number of Rentable Square Feet</link:label>
    <link:label id="lab_none_RealEstateInvestmentNumberOfRentableSquareFeet_documentation_en-US" xlink:label="lab_none_RealEstateInvestmentNumberOfRentableSquareFeet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Investment, Number of Rentable Square Feet</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_RealEstateInvestmentNumberOfRentableSquareFeet" xlink:href="none-20251231.xsd#none_RealEstateInvestmentNumberOfRentableSquareFeet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_RealEstateInvestmentNumberOfRentableSquareFeet" xlink:to="lab_none_RealEstateInvestmentNumberOfRentableSquareFeet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions_4fd9d05e-2236-4740-9b88-13e99fde2afb_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distributions from unconsolidated investment in a real estate property</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Equity Method Investment, Distribution</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EquityMethodInvestmentDividendsOrDistributions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:to="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueAcquisitions_7beb2600-d1e9-44b3-adab-9ab64caebddf_verboseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Issuance of Class C OP Units for property acquisition</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueAcquisitions_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Value, Acquisitions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockIssuedDuringPeriodValueAcquisitions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_f4e5245e-f069-4a2e-be00-aa105625955d_terseLabel_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Securities excluded from the computation of earnings per share (in shares)</link:label>
    <link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_label_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount"/>
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    <link:label id="lab_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities_f2d771ee-2a87-4b08-861d-20cbb0a91831_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Investments in off-market interest rate derivatives</link:label>
    <link:label id="lab_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities_label_en-US" xlink:label="lab_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Derivative Instrument, Investing Activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsForDerivativeInstrumentInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities" xlink:to="lab_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_d868ba17-2200-4375-b552-601b66e548c3_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo"/>
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    <link:label id="lab_srt_OtherPropertyMember_f1817148-273c-42b8-bb85-561558741176_terseLabel_en-US" xlink:label="lab_srt_OtherPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-core properties</link:label>
    <link:label id="lab_srt_OtherPropertyMember_label_en-US" xlink:label="lab_srt_OtherPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Property [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OtherPropertyMember" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_OtherPropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OtherPropertyMember" xlink:to="lab_srt_OtherPropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_bfdc06e3-3c66-4b69-9bd4-74c6079803eb_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash used in financing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Financing Activity, Including Discontinued Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MeasureAxis_terseLabel_en-US" xlink:label="lab_ecd_MeasureAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measure:</link:label>
    <link:label id="lab_ecd_MeasureAxis_label_en-US" xlink:label="lab_ecd_MeasureAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measure [Axis]</link:label>
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    <link:label id="lab_none_NetIncomeLossAttributableToNoncontrollingInterestIncludingLossesAllocatedToOperatingPartnershipUnits_c38bdf9c-229b-413f-8be7-d7e1913af882_verboseLabel_en-US" xlink:label="lab_none_NetIncomeLossAttributableToNoncontrollingInterestIncludingLossesAllocatedToOperatingPartnershipUnits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net loss (income) attributable to noncontrolling interest in Operating Partnership</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_none_NetIncomeLossAttributableToNoncontrollingInterestIncludingLossesAllocatedToOperatingPartnershipUnits" xlink:href="none-20251231.xsd#none_NetIncomeLossAttributableToNoncontrollingInterestIncludingLossesAllocatedToOperatingPartnershipUnits"/>
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    <link:label id="lab_none_OESRanchoCordovaCAMember_fb69c51f-0702-49e7-ac39-08b8b4533447_terseLabel_en-US" xlink:label="lab_none_OESRanchoCordovaCAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">OES, Rancho Cordova, CA</link:label>
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    <link:label id="lab_none_OESRanchoCordovaCAMember_documentation_en-US" xlink:label="lab_none_OESRanchoCordovaCAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">OES, Rancho Cordova, CA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_OESRanchoCordovaCAMember" xlink:href="none-20251231.xsd#none_OESRanchoCordovaCAMember"/>
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    <link:label id="lab_none_ClassXOPUnitsMember_8c14d731-674b-42dc-9067-b1a39c1c82a4_terseLabel_en-US" xlink:label="lab_none_ClassXOPUnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class X OP Units</link:label>
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    <link:label id="lab_none_ClassXOPUnitsMember_label_en-US" xlink:label="lab_none_ClassXOPUnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class X OP Units [Member]</link:label>
    <link:label id="lab_none_ClassXOPUnitsMember_documentation_en-US" xlink:label="lab_none_ClassXOPUnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Class X OP Units</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_ClassXOPUnitsMember" xlink:href="none-20251231.xsd#none_ClassXOPUnitsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_ClassXOPUnitsMember" xlink:to="lab_none_ClassXOPUnitsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_019b9e96-c616-7932-be74-0c2dae03e333_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, after Year Five</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_2b263597-33aa-4b3d-aa7c-e8831d6162c1_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Type [Domain]</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Lived Tangible Asset [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisposalGroupClassificationDomain_dd9c7c9a-c8fc-459c-ba31-d140a1e2de78_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupClassificationDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disposal Group Classification [Domain]</link:label>
    <link:label id="lab_us-gaap_DisposalGroupClassificationDomain_label_en-US" xlink:label="lab_us-gaap_DisposalGroupClassificationDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal Group Classification [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisposalGroupClassificationDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DisposalGroupClassificationDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupClassificationDomain" xlink:to="lab_us-gaap_DisposalGroupClassificationDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationDisclosureTextBlock_993cc1b4-07ab-4077-99e3-09df77bebcff_terseLabel_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule III Real Estate Assets and Accumulated Depreciation and Amortization</link:label>
    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationDisclosureTextBlock_label_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RealEstateAndAccumulatedDepreciationDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RealEstateAndAccumulatedDepreciationDisclosureTextBlock"/>
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    <link:label id="lab_none_ProceedsFromPurchaseDepositsApplied_7d683722-7d27-4f90-baa5-f40109e3b6cf_terseLabel_en-US" xlink:label="lab_none_ProceedsFromPurchaseDepositsApplied" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Purchase deposits applied (paid)</link:label>
    <link:label id="lab_none_ProceedsFromPurchaseDepositsApplied_label_en-US" xlink:label="lab_none_ProceedsFromPurchaseDepositsApplied" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds From Purchase Deposits Applied</link:label>
    <link:label id="lab_none_ProceedsFromPurchaseDepositsApplied_documentation_en-US" xlink:label="lab_none_ProceedsFromPurchaseDepositsApplied" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds From Purchase Deposits Applied</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_ProceedsFromPurchaseDepositsApplied" xlink:href="none-20251231.xsd#none_ProceedsFromPurchaseDepositsApplied"/>
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    <link:label id="lab_none_PlasticProductsPrincetonMNMember_6f8a0dd7-6c64-4b21-a2b6-956a1f3c0d04_terseLabel_en-US" xlink:label="lab_none_PlasticProductsPrincetonMNMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Plastic Products, Princeton, MN</link:label>
    <link:label id="lab_none_PlasticProductsPrincetonMNMember_label_en-US" xlink:label="lab_none_PlasticProductsPrincetonMNMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plastic Products, Princeton, MN [Member]</link:label>
    <link:label id="lab_none_PlasticProductsPrincetonMNMember_documentation_en-US" xlink:label="lab_none_PlasticProductsPrincetonMNMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Plastic Products, Princeton, MN</link:label>
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    <link:label id="lab_ecd_PvpTableTextBlock_terseLabel_en-US" xlink:label="lab_ecd_PvpTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure, Table</link:label>
    <link:label id="lab_ecd_PvpTableTextBlock_label_en-US" xlink:label="lab_ecd_PvpTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pay vs Performance [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PvpTableTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PvpTableTextBlock"/>
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    <link:label id="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Violation of Home Country Law, Amount</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Violation of Home Country Law, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt"/>
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    <link:label id="lab_us-gaap_AmortizationOfFinancingCosts_77da0416-235b-4753-9e5b-e0e5957359c8_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCosts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization and write-off of deferred financing costs</link:label>
    <link:label id="lab_us-gaap_AmortizationOfFinancingCosts_label_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Debt Issuance Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AmortizationOfFinancingCosts" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AmortizationOfFinancingCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfFinancingCosts" xlink:to="lab_us-gaap_AmortizationOfFinancingCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityTaxIdentificationNumber_0317c078-b999-497c-94a1-81be59198dc8_terseLabel_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
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    <link:label id="lab_us-gaap_AssetAcquisitionAxis_cb28249e-0f4e-403b-9505-d7b5b679a3d6_terseLabel_en-US" xlink:label="lab_us-gaap_AssetAcquisitionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Axis]</link:label>
    <link:label id="lab_us-gaap_AssetAcquisitionAxis_label_en-US" xlink:label="lab_us-gaap_AssetAcquisitionAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetAcquisitionAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AssetAcquisitionAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetAcquisitionAxis" xlink:to="lab_us-gaap_AssetAcquisitionAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_none_DebtInstrumentVariableRateUnusedFeeMaximum_a60f32f1-8902-484a-b2b5-012f52b179e5_terseLabel_en-US" xlink:label="lab_none_DebtInstrumentVariableRateUnusedFeeMaximum" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt instrument, variable rate, unused fee, maximum</link:label>
    <link:label id="lab_none_DebtInstrumentVariableRateUnusedFeeMaximum_label_en-US" xlink:label="lab_none_DebtInstrumentVariableRateUnusedFeeMaximum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Variable Rate, Unused Fee, Maximum</link:label>
    <link:label id="lab_none_DebtInstrumentVariableRateUnusedFeeMaximum_documentation_en-US" xlink:label="lab_none_DebtInstrumentVariableRateUnusedFeeMaximum" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Variable Rate, Unused Fee, Maximum</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_DebtInstrumentVariableRateUnusedFeeMaximum" xlink:href="none-20251231.xsd#none_DebtInstrumentVariableRateUnusedFeeMaximum"/>
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    <link:label id="lab_us-gaap_NumberOfRealEstateProperties_936fd702-d257-4175-a240-d5cf939a4240_terseLabel_en-US" xlink:label="lab_us-gaap_NumberOfRealEstateProperties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of real estate properties</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NumberOfRealEstateProperties" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NumberOfRealEstateProperties"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NumberOfRealEstateProperties" xlink:to="lab_us-gaap_NumberOfRealEstateProperties" xlink:type="arc" order="1"/>
    <link:label id="lab_none_LindsayAlachuaMember_585b70b7-6099-474f-8861-5a0d3b1993d1_terseLabel_en-US" xlink:label="lab_none_LindsayAlachuaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lindsay, Alachua</link:label>
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    <link:label id="lab_none_LindsayAlachuaMember_documentation_en-US" xlink:label="lab_none_LindsayAlachuaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lindsay Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_LindsayAlachuaMember" xlink:href="none-20251231.xsd#none_LindsayAlachuaMember"/>
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    <link:label id="lab_us-gaap_CommonStockSharesIssued_7c9cf7b6-eeb1-4732-8082-60c2a3b7b899_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares issued (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesIssued_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesIssued" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonStockSharesIssued"/>
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    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_341c6977-2c08-4323-a9d5-533772784963_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2029</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour"/>
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    <link:label id="lab_none_LindsayColoradoPropertiesMember_ae5af655-a57c-4757-bd68-17dfa2c76110_terseLabel_en-US" xlink:label="lab_none_LindsayColoradoPropertiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lindsay Colorado Properties</link:label>
    <link:label id="lab_none_LindsayColoradoPropertiesMember_label_en-US" xlink:label="lab_none_LindsayColoradoPropertiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lindsay Colorado Properties [Member]</link:label>
    <link:label id="lab_none_LindsayColoradoPropertiesMember_documentation_en-US" xlink:label="lab_none_LindsayColoradoPropertiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lindsay Colorado Properties</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_LindsayColoradoPropertiesMember" xlink:href="none-20251231.xsd#none_LindsayColoradoPropertiesMember"/>
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    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization_1691b59a-4a52-4f31-8087-cb57121ddfb1_terseLabel_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization_label_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Depreciation And Amortization</link:label>
    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization_documentation_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of depreciation and amortization reported by an equity method investment of the entity.</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization" xlink:to="lab_none_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityPublicFloat_019c37ea-c9ab-7e13-9056-b059f99eac87_terseLabel_en-US" xlink:label="lab_dei_EntityPublicFloat" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Public Float</link:label>
    <link:label id="lab_dei_EntityPublicFloat_label_en-US" xlink:label="lab_dei_EntityPublicFloat" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Public Float</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityPublicFloat" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityPublicFloat"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityPublicFloat" xlink:to="lab_dei_EntityPublicFloat" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestExpenseNonoperating_3954737a-163e-4f4a-9bdb-03174c6af3bb_negatedLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseNonoperating" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Interest expense, net of unrealized gain on interest rate swaps and derivative settlements</link:label>
    <link:label id="lab_us-gaap_InterestExpenseNonoperating_label_en-US" xlink:label="lab_us-gaap_InterestExpenseNonoperating" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Nonoperating</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpenseNonoperating" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestExpenseNonoperating"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseNonoperating" xlink:to="lab_us-gaap_InterestExpenseNonoperating" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TradingArrAxis_terseLabel_en-US" xlink:label="lab_ecd_TradingArrAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Arrangement:</link:label>
    <link:label id="lab_ecd_TradingArrAxis_label_en-US" xlink:label="lab_ecd_TradingArrAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TradingArrAxis" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TradingArrAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TradingArrAxis" xlink:to="lab_ecd_TradingArrAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TotalShareholderRtnAmt_terseLabel_en-US" xlink:label="lab_ecd_TotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Amount</link:label>
    <link:label id="lab_ecd_TotalShareholderRtnAmt_label_en-US" xlink:label="lab_ecd_TotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TotalShareholderRtnAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TotalShareholderRtnAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TotalShareholderRtnAmt" xlink:to="lab_ecd_TotalShareholderRtnAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_none_ITWRippeyMember_709ee48b-106e-4710-aa27-234561f2f179_terseLabel_en-US" xlink:label="lab_none_ITWRippeyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">ITW Rippey</link:label>
    <link:label id="lab_none_ITWRippeyMember_label_en-US" xlink:label="lab_none_ITWRippeyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ITW Rippey [Member]</link:label>
    <link:label id="lab_none_ITWRippeyMember_documentation_en-US" xlink:label="lab_none_ITWRippeyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">ITW Rippey</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_ITWRippeyMember" xlink:href="none-20251231.xsd#none_ITWRippeyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_ITWRippeyMember" xlink:to="lab_none_ITWRippeyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingLeaseLeaseIncome_e6c7f3f3-5521-4199-83f9-8ec22e5c183b_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseLeaseIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rental</link:label>
    <link:label id="lab_us-gaap_OperatingLeaseLeaseIncome_87fe10f6-7b16-4e03-9858-72648e41ab72_verboseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseLeaseIncome" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Rental Income</link:label>
    <link:label id="lab_us-gaap_OperatingLeaseLeaseIncome_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseLeaseIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Lease, Lease Income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLeaseIncome" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OperatingLeaseLeaseIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseLeaseIncome" xlink:to="lab_us-gaap_OperatingLeaseLeaseIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis_a5fff3fd-6aa8-4e24-adaa-2bf288873666_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate, Type of Property [Axis]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate, Type of Property [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:to="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_SecurityExchangeName_3b337191-4eb8-4947-a508-fa7a7209cabe_terseLabel_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Security Exchange Name</link:label>
    <link:label id="lab_dei_SecurityExchangeName_label_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Security Exchange Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_SecurityExchangeName" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_SecurityExchangeName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_SecurityExchangeName" xlink:to="lab_dei_SecurityExchangeName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract_869117c3-80aa-4f1a-8e1d-73ccc900c2b0_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Below-Market Lease Intangibles</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Net, Amortization Income, Fiscal Year Maturity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract" xlink:to="lab_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TenantImprovements_d6f9de26-5b67-48bb-a0e7-31677bcc3247_terseLabel_en-US" xlink:label="lab_us-gaap_TenantImprovements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenant origination and absorption costs</link:label>
    <link:label id="lab_us-gaap_TenantImprovements_label_en-US" xlink:label="lab_us-gaap_TenantImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tenant Improvements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TenantImprovements" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_TenantImprovements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TenantImprovements" xlink:to="lab_us-gaap_TenantImprovements" xlink:type="arc" order="1"/>
    <link:label id="lab_none_StockIssuedDuringPeriodValueClassOfStockExchange_8dca6567-0a6f-4c8a-9966-fa1f7ba0492b_terseLabel_en-US" xlink:label="lab_none_StockIssuedDuringPeriodValueClassOfStockExchange" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Conversion and Exchange of stock class</link:label>
    <link:label id="lab_none_StockIssuedDuringPeriodValueClassOfStockExchange_label_en-US" xlink:label="lab_none_StockIssuedDuringPeriodValueClassOfStockExchange" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Value, Class Of Stock Exchange</link:label>
    <link:label id="lab_none_StockIssuedDuringPeriodValueClassOfStockExchange_documentation_en-US" xlink:label="lab_none_StockIssuedDuringPeriodValueClassOfStockExchange" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Value, Class Of Stock Exchange</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_StockIssuedDuringPeriodValueClassOfStockExchange" xlink:href="none-20251231.xsd#none_StockIssuedDuringPeriodValueClassOfStockExchange"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_StockIssuedDuringPeriodValueClassOfStockExchange" xlink:to="lab_none_StockIssuedDuringPeriodValueClassOfStockExchange" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_d466272c-de0c-434c-ad85-7160acc09505_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RetailSiteMember_d9064946-3066-48b4-b3df-46e7c4424bb2_terseLabel_en-US" xlink:label="lab_srt_RetailSiteMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retail</link:label>
    <link:label id="lab_srt_RetailSiteMember_label_en-US" xlink:label="lab_srt_RetailSiteMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retail Site [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RetailSiteMember" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RetailSiteMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RetailSiteMember" xlink:to="lab_srt_RetailSiteMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_bb458b74-e5d4-4ffa-a6e6-e7a59d34c5e7_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum borrowing capacity</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Maximum Borrowing Capacity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsPreferredStock_722b3d05-d5de-4e89-af1c-5ec60ebd5121_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DividendsPreferredStock" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Dividends declared, preferred stock</link:label>
    <link:label id="lab_us-gaap_DividendsPreferredStock_label_en-US" xlink:label="lab_us-gaap_DividendsPreferredStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends, Preferred Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPreferredStock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DividendsPreferredStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsPreferredStock" xlink:to="lab_us-gaap_DividendsPreferredStock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan_b9406e24-112d-4f3f-9acc-98747b0f29a0_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issuance of common stock - distribution reinvestments (in shares)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, Dividend Reinvestment Plan</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodShares_ecb6d319-23f4-411e-a2ea-c7ff4e489e59_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodShares" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repurchase of preferred stock (in shares)</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodShares_91306d37-68c5-4bdb-aaa7-8041fc0b25f5_terseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchase of common stock (in shares)</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodShares_label_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchased During Period, Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockRepurchasedDuringPeriodShares" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockRepurchasedDuringPeriodShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchasedDuringPeriodShares" xlink:to="lab_us-gaap_StockRepurchasedDuringPeriodShares" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingExpensesAbstract_e9e1f9ba-f052-4484-b9b6-d0b07cfa30c1_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses:</link:label>
    <link:label id="lab_us-gaap_OperatingExpensesAbstract_e3387776-a380-41c3-b514-71ec7cc5a7aa_verboseLabel_en-US" xlink:label="lab_us-gaap_OperatingExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Operating expenses:</link:label>
    <link:label id="lab_us-gaap_OperatingExpensesAbstract_label_en-US" xlink:label="lab_us-gaap_OperatingExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Expenses [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingExpensesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OperatingExpensesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingExpensesAbstract" xlink:to="lab_us-gaap_OperatingExpensesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PrepaidExpenseCurrent_c087a9b3-d5cd-41c0-812a-7e33f3d9eb68_terseLabel_en-US" xlink:label="lab_us-gaap_PrepaidExpenseCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prepaid expenses and other assets</link:label>
    <link:label id="lab_us-gaap_PrepaidExpenseCurrent_label_en-US" xlink:label="lab_us-gaap_PrepaidExpenseCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prepaid Expense, Current</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PrepaidExpenseCurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PrepaidExpenseCurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PrepaidExpenseCurrent" xlink:to="lab_us-gaap_PrepaidExpenseCurrent" xlink:type="arc" order="1"/>
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    <link:label id="lab_none_OtherComprehensiveIncomeLossOffMarketInterestRateDerivativesBeforeReclassificationAfterTax_label_en-US" xlink:label="lab_none_OtherComprehensiveIncomeLossOffMarketInterestRateDerivativesBeforeReclassificationAfterTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Off-Market Interest Rate Derivatives, before Reclassification, after Tax</link:label>
    <link:label id="lab_none_OtherComprehensiveIncomeLossOffMarketInterestRateDerivativesBeforeReclassificationAfterTax_documentation_en-US" xlink:label="lab_none_OtherComprehensiveIncomeLossOffMarketInterestRateDerivativesBeforeReclassificationAfterTax" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Off-Market Interest Rate Derivatives, before Reclassification, after Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_OtherComprehensiveIncomeLossOffMarketInterestRateDerivativesBeforeReclassificationAfterTax" xlink:href="none-20251231.xsd#none_OtherComprehensiveIncomeLossOffMarketInterestRateDerivativesBeforeReclassificationAfterTax"/>
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    <link:label id="lab_none_A3MPropertyMember_3afd62db-cd9c-4cab-8c43-c77a6dc5906b_terseLabel_en-US" xlink:label="lab_none_A3MPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">3M Property</link:label>
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    <link:label id="lab_none_A3MPropertyMember_documentation_en-US" xlink:label="lab_none_A3MPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">3M Property</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_A3MPropertyMember" xlink:href="none-20251231.xsd#none_A3MPropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_A3MPropertyMember" xlink:to="lab_none_A3MPropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementLineItems_2b87c0df-c1a0-4756-bcfd-7d8b24f8bd3c_terseLabel_en-US" xlink:label="lab_us-gaap_StatementLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
    <link:label id="lab_us-gaap_StatementLineItems_label_en-US" xlink:label="lab_us-gaap_StatementLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementLineItems" xlink:to="lab_us-gaap_StatementLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_Rule10b51ArrAdoptedFlag_terseLabel_en-US" xlink:label="lab_ecd_Rule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rule 10b5-1 Arrangement Adopted</link:label>
    <link:label id="lab_ecd_Rule10b51ArrAdoptedFlag_label_en-US" xlink:label="lab_ecd_Rule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Rule 10b5-1 Arrangement Adopted [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_Rule10b51ArrAdoptedFlag" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_Rule10b51ArrAdoptedFlag"/>
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    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_367600ad-c339-4919-928b-75b1d5ac40ee_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventLineItems_64eaab37-4353-4225-ba53-250d17435dde_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event [Line Items]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventLineItems_label_en-US" xlink:label="lab_us-gaap_SubsequentEventLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SubsequentEventLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventLineItems" xlink:to="lab_us-gaap_SubsequentEventLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockMember_99228219-f40a-4c9e-b957-0ff56556f013_verboseLabel_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Class C Common Stock (&#8220;CS&#8221;)</link:label>
    <link:label id="lab_us-gaap_CommonStockMember_label_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockMember" xlink:to="lab_us-gaap_CommonStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_none_RealEstateInvestmentsNetIncludingDisposalGroup_4a959e85-4daa-4a94-b996-5eda6ed076c1_totalLabel_en-US" xlink:label="lab_none_RealEstateInvestmentsNetIncludingDisposalGroup" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total real estate investments, net</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_none_RealEstateInvestmentsNetIncludingDisposalGroup" xlink:href="none-20251231.xsd#none_RealEstateInvestmentsNetIncludingDisposalGroup"/>
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    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_922c8435-1ec6-49d0-bada-b4b028e2ee6f_negatedLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Accumulated depreciation and amortization</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, Accumulated Depreciation</link:label>
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    <link:label id="lab_us-gaap_SubsidiarySaleOfStockLineItems_551683de-e58f-47fb-8991-06f8be5689b6_terseLabel_en-US" xlink:label="lab_us-gaap_SubsidiarySaleOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsidiary, Sale of Stock [Line Items]</link:label>
    <link:label id="lab_us-gaap_SubsidiarySaleOfStockLineItems_label_en-US" xlink:label="lab_us-gaap_SubsidiarySaleOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiary, Sale of Stock [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsidiarySaleOfStockLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SubsidiarySaleOfStockLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsidiarySaleOfStockLineItems" xlink:to="lab_us-gaap_SubsidiarySaleOfStockLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_none_ChangeInConstructionAdvances_68362db4-efe8-4729-8f18-065067589528_terseLabel_en-US" xlink:label="lab_none_ChangeInConstructionAdvances" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in construction advances</link:label>
    <link:label id="lab_none_ChangeInConstructionAdvances_label_en-US" xlink:label="lab_none_ChangeInConstructionAdvances" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in Construction Advances</link:label>
    <link:label id="lab_none_ChangeInConstructionAdvances_documentation_en-US" xlink:label="lab_none_ChangeInConstructionAdvances" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Change in Construction Advances</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_ChangeInConstructionAdvances" xlink:href="none-20251231.xsd#none_ChangeInConstructionAdvances"/>
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    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_9f1c23ae-4dc1-4524-844c-2a036af05275_totalLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net increase in cash, cash equivalents, and restricted cash</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect"/>
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    <link:label id="lab_none_CostcoPropertyMember_019c32a4-21e4-702e-b9f1-7a0c6273ca03_terseLabel_en-US" xlink:label="lab_none_CostcoPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Costco Property</link:label>
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    <link:label id="lab_none_CostcoPropertyMember_documentation_en-US" xlink:label="lab_none_CostcoPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Costco Property</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_CostcoPropertyMember" xlink:href="none-20251231.xsd#none_CostcoPropertyMember"/>
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    <link:label id="lab_us-gaap_SignificantAccountingPoliciesTextBlock_26f7dca7-cdbb-4396-9823-900ba91080e2_terseLabel_en-US" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RangeMember_6d6365a2-b3e0-4f8e-b363-ca509d5d1d16_terseLabel_en-US" xlink:label="lab_srt_RangeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Domain]</link:label>
    <link:label id="lab_srt_RangeMember_label_en-US" xlink:label="lab_srt_RangeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeMember" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RangeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeMember" xlink:to="lab_srt_RangeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeaseRenewalTerm_d10dd0ef-15bd-48bb-903d-7455c43c15b7_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeaseRenewalTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating leases extension term</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeaseRenewalTerm_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeaseRenewalTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Renewal Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeaseRenewalTerm" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LessorOperatingLeaseRenewalTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeaseRenewalTerm" xlink:to="lab_us-gaap_LessorOperatingLeaseRenewalTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionAxis_12d470f4-cffe-4fe4-aed1-f14b82b6a6cb_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Axis]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionAxis_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Axis]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionAxis" xlink:to="lab_us-gaap_RelatedPartyTransactionAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain_c1da69f3-75d8-451b-851a-5488e25c4154_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate [Domain]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MortgageLoansOnRealEstateNamePropertyTypeDomain"/>
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    <link:label id="lab_us-gaap_InterestRateSwapMember_label_en-US" xlink:label="lab_us-gaap_InterestRateSwapMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Rate Swap [Member]</link:label>
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    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_f4c7f2d8-7980-4940-aa9d-20550fd2371b_negatedLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Income from unconsolidated investment in a real estate property</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_5b2a29c3-901d-4d29-8e50-73fc44d554a3_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income from unconsolidated investment in a real estate property</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) from Equity Method Investments</link:label>
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    <link:label id="lab_us-gaap_EarningsPerShareBasicAbstract_f1047c91-6fe3-4997-9a6a-3bf868f61a22_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasicAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings (loss) per share attributable to common stockholders:</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareBasicAbstract_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasicAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Basic [Abstract]</link:label>
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    <link:label id="lab_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_9cb4a35f-b7d3-4a94-8fb3-783e1e6a43b0_terseLabel_en-US" xlink:label="lab_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible Asset, Acquired, Finite-Lived [Line Items]</link:label>
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    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_76f3aefe-8eb2-4e24-9e87-ed51178d2c05_verboseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">2029</link:label>
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    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand_1e5319d4-2db7-4d75-ba8d-5beeb3fe9c59_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land</link:label>
    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand_label_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Land, Amount</link:label>
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    <link:label id="lab_us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock_26faa12e-f523-41e0-b460-42399e345d9e_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Dispositions and Real Estate Investments Held for Sale</link:label>
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    <link:label id="lab_none_IndustrialPropertyAcquisitionMember_ad69959f-828e-4bfb-83fd-fb30259479aa_terseLabel_en-US" xlink:label="lab_none_IndustrialPropertyAcquisitionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Industrial Property Acquisition</link:label>
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    <link:label id="lab_ecd_TradingArrByIndTable_terseLabel_en-US" xlink:label="lab_ecd_TradingArrByIndTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Arrangements, by Individual</link:label>
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    <link:label id="lab_us-gaap_EarningsPerShareBasic_655bb380-08be-4cd4-9982-257e024cc851_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic (in usd per share)</link:label>
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    <link:label id="lab_us-gaap_SaleLeasebackTransactionLeaseTerm_9021442d-31d5-4e2a-ac78-4372eb5600bb_terseLabel_en-US" xlink:label="lab_us-gaap_SaleLeasebackTransactionLeaseTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term of sale leaseback transaction</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgMnpiDiscTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgMnpiDiscTextBlock"/>
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    <link:label id="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization_ca5b5407-bca9-49c6-bf38-5c6a79daf199_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated amortization</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Accumulated Amortization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BelowMarketLeaseAccumulatedAmortization"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:to="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments_019cd660-ce93-7749-87ea-467bdadcc4bf_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payments to acquire equity method investments</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Equity Method Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsToAcquireEquityMethodInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:to="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_58066059-8917-4271-81e1-451c2eaca771_terseLabel_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock compensation</link:label>
    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_label_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AllocatedShareBasedCompensationExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllocatedShareBasedCompensationExpense" xlink:to="lab_us-gaap_AllocatedShareBasedCompensationExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_HedgingDesignationDomain_818f4b91-e2dc-408c-b342-25ae8652974b_terseLabel_en-US" xlink:label="lab_us-gaap_HedgingDesignationDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hedging Designation [Domain]</link:label>
    <link:label id="lab_us-gaap_HedgingDesignationDomain_label_en-US" xlink:label="lab_us-gaap_HedgingDesignationDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging Designation [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgingDesignationDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_HedgingDesignationDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgingDesignationDomain" xlink:to="lab_us-gaap_HedgingDesignationDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsToDevelopRealEstateAssets_f0c52c28-1f9f-48d5-ac71-13a2d600f90d_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToDevelopRealEstateAssets" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Improvements to existing real estate investments and other assets</link:label>
    <link:label id="lab_us-gaap_PaymentsToDevelopRealEstateAssets_label_en-US" xlink:label="lab_us-gaap_PaymentsToDevelopRealEstateAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Develop Real Estate Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToDevelopRealEstateAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsToDevelopRealEstateAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToDevelopRealEstateAssets" xlink:to="lab_us-gaap_PaymentsToDevelopRealEstateAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SecuredDebt_842f49f9-5c3b-4c82-b899-057eb30753c7_terseLabel_en-US" xlink:label="lab_us-gaap_SecuredDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage notes payable, net</link:label>
    <link:label id="lab_us-gaap_SecuredDebt_label_en-US" xlink:label="lab_us-gaap_SecuredDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Debt</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuredDebt" xlink:to="lab_us-gaap_SecuredDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_none_LindsayRockHillMember_c82cf7ab-75ef-47d5-b38a-2c0127f535af_terseLabel_en-US" xlink:label="lab_none_LindsayRockHillMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lindsay, Rock Hill</link:label>
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    <link:label id="lab_none_LindsayRockHillMember_documentation_en-US" xlink:label="lab_none_LindsayRockHillMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lindsay, Rock Hill</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_LindsayRockHillMember" xlink:href="none-20251231.xsd#none_LindsayRockHillMember"/>
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    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_79c8cade-cc09-4adf-9e80-19456078b8a5_totalLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities and equity</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_e89dd8a5-073b-4ca8-b0d4-f2cfbeab2d08_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total liabilities and equity</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskByBenchmarkAxis_02cab570-3eaa-4f92-aefc-0692e016e05e_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk Benchmark [Axis]</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskByBenchmarkAxis_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Benchmark [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskByBenchmarkAxis"/>
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    <link:label id="lab_none_PBCLinearRoscoeILMember_37b3782c-611f-4430-b1a5-8ce1ab122f6e_terseLabel_en-US" xlink:label="lab_none_PBCLinearRoscoeILMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PBC Linear, Roscoe, IL</link:label>
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    <link:label id="lab_none_PBCLinearRoscoeILMember_documentation_en-US" xlink:label="lab_none_PBCLinearRoscoeILMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">PBC Linear, Roscoe, IL</link:label>
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    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_ae2041b9-632f-48b5-9bfc-fa00de593c41_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Method Investment [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsTable"/>
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    <link:label id="lab_none_TaylorFreshFoodsMember_e64a6dcc-57a8-4332-9b98-9881c8090ed5_terseLabel_en-US" xlink:label="lab_none_TaylorFreshFoodsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Taylor Fresh Foods</link:label>
    <link:label id="lab_none_TaylorFreshFoodsMember_label_en-US" xlink:label="lab_none_TaylorFreshFoodsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Taylor Fresh Foods [Member]</link:label>
    <link:label id="lab_none_TaylorFreshFoodsMember_documentation_en-US" xlink:label="lab_none_TaylorFreshFoodsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Taylor Fresh Foods [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_TaylorFreshFoodsMember" xlink:href="none-20251231.xsd#none_TaylorFreshFoodsMember"/>
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    <link:label id="lab_none_CostcoIssaquahWAMember_4ea7b9d0-56bb-441e-91fb-a259973980e4_verboseLabel_en-US" xlink:label="lab_none_CostcoIssaquahWAMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Costco property</link:label>
    <link:label id="lab_none_CostcoIssaquahWAMember_label_en-US" xlink:label="lab_none_CostcoIssaquahWAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Costco, Issaquah, WA [Member]</link:label>
    <link:label id="lab_none_CostcoIssaquahWAMember_documentation_en-US" xlink:label="lab_none_CostcoIssaquahWAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Costco [Member]</link:label>
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    <link:label id="lab_us-gaap_AccountingPoliciesAbstract_f3d56e32-f608-4ed4-be9a-94103aabd53b_terseLabel_en-US" xlink:label="lab_us-gaap_AccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountingPoliciesAbstract" xlink:to="lab_us-gaap_AccountingPoliciesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskTypeDomain_db0b4859-1a6c-48b3-b70a-5c167e39ce1e_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Domain]</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskTypeDomain_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskTypeDomain" xlink:to="lab_us-gaap_ConcentrationRiskTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RepaymentsOfSecuredDebt_079eaa78-6c51-4cb1-8554-fe030a15f1c1_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfSecuredDebt" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Principal payments on mortgage notes payable</link:label>
    <link:label id="lab_us-gaap_RepaymentsOfSecuredDebt_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfSecuredDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of Secured Debt</link:label>
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    <link:label id="lab_us-gaap_TreasuryStockCommonMember_aeec380a-6ea3-4f8d-9bd0-dfa7c54a248e_terseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockCommonMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Treasury&#160;Stock</link:label>
    <link:label id="lab_us-gaap_TreasuryStockCommonMember_label_en-US" xlink:label="lab_us-gaap_TreasuryStockCommonMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Treasury Stock, Common [Member]</link:label>
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    <link:label id="lab_none_LeverageRatioScenarioAxis_6f727ced-0607-4d71-8065-832234cef086_terseLabel_en-US" xlink:label="lab_none_LeverageRatioScenarioAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leverage Ratio Scenario [Axis]</link:label>
    <link:label id="lab_none_LeverageRatioScenarioAxis_label_en-US" xlink:label="lab_none_LeverageRatioScenarioAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leverage Ratio Scenario [Axis]</link:label>
    <link:label id="lab_none_LeverageRatioScenarioAxis_documentation_en-US" xlink:label="lab_none_LeverageRatioScenarioAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Leverage Ratio Scenario</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_LeverageRatioScenarioAxis" xlink:href="none-20251231.xsd#none_LeverageRatioScenarioAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_LeverageRatioScenarioAxis" xlink:to="lab_none_LeverageRatioScenarioAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PayVsPerformanceDisclosureLineItems_label_en-US" xlink:label="lab_ecd_PayVsPerformanceDisclosureLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PayVsPerformanceDisclosureLineItems" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PayVsPerformanceDisclosureLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PayVsPerformanceDisclosureLineItems" xlink:to="lab_ecd_PayVsPerformanceDisclosureLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationOtherExpenses_8a16106b-b2d9-4a37-8cda-27ae623b989c_terseLabel_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationOtherExpenses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other expenses</link:label>
    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationOtherExpenses_label_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationOtherExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Other expenses</link:label>
    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationOtherExpenses_documentation_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationOtherExpenses" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of other expense reported by an equity method investment of the entity.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_EquityMethodInvestmentSummarizedFinancialInformationOtherExpenses" xlink:href="none-20251231.xsd#none_EquityMethodInvestmentSummarizedFinancialInformationOtherExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_EquityMethodInvestmentSummarizedFinancialInformationOtherExpenses" xlink:to="lab_none_EquityMethodInvestmentSummarizedFinancialInformationOtherExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_3eb9e8e7-e17e-4ece-a39f-ee398b283d0e_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares issued for services rendered (in shares)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, Issued for Services</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockIssuedDuringPeriodSharesIssuedForServices"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:type="arc" order="1"/>
    <link:label id="lab_none_PaymentForServicesRenderedMember_5e1babde-e184-4593-9cee-0ca889370392_terseLabel_en-US" xlink:label="lab_none_PaymentForServicesRenderedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payments for services rendered</link:label>
    <link:label id="lab_none_PaymentForServicesRenderedMember_label_en-US" xlink:label="lab_none_PaymentForServicesRenderedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payment for Services Rendered [Member]</link:label>
    <link:label id="lab_none_PaymentForServicesRenderedMember_documentation_en-US" xlink:label="lab_none_PaymentForServicesRenderedMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payment for Services Rendered</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_PaymentForServicesRenderedMember" xlink:href="none-20251231.xsd#none_PaymentForServicesRenderedMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_PaymentForServicesRenderedMember" xlink:to="lab_none_PaymentForServicesRenderedMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived_72adf637-e564-4216-a032-6c6bb7b9dbf0_totalLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceived"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesAbstract_d438284c-a211-4db2-9678-dfe40454bc42_verboseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Liabilities:</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAbstract_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LiabilitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAbstract" xlink:to="lab_us-gaap_LiabilitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockLiquidationPreference_60b7c88b-fa7c-4fec-8c5a-833deba0925d_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockLiquidationPreference" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, liquidation preference per share (in usd per share)</link:label>
    <link:label id="lab_us-gaap_PreferredStockLiquidationPreference_label_en-US" xlink:label="lab_us-gaap_PreferredStockLiquidationPreference" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Liquidation Preference Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockLiquidationPreference" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PreferredStockLiquidationPreference"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockLiquidationPreference" xlink:to="lab_us-gaap_PreferredStockLiquidationPreference" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessCombinationDisclosureTextBlock_204deb02-3b78-43dd-b1fb-4edad7647857_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">OPERATING PARTNERSHIP UNITS</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessCombinationDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationDisclosureTextBlock" xlink:to="lab_us-gaap_BusinessCombinationDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_none_StockIssuedDuringPeriodValueConversionOfSharesHeldForInvestment_5a5326d4-2c56-4716-8d7e-cf00ff081c3f_negatedTerseLabel_en-US" xlink:label="lab_none_StockIssuedDuringPeriodValueConversionOfSharesHeldForInvestment" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Receipt of GIPR common stock in exchange of GIPR preferred stock</link:label>
    <link:label id="lab_none_StockIssuedDuringPeriodValueConversionOfSharesHeldForInvestment_label_en-US" xlink:label="lab_none_StockIssuedDuringPeriodValueConversionOfSharesHeldForInvestment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Value, Conversion Of Shares Held For Investment</link:label>
    <link:label id="lab_none_StockIssuedDuringPeriodValueConversionOfSharesHeldForInvestment_documentation_en-US" xlink:label="lab_none_StockIssuedDuringPeriodValueConversionOfSharesHeldForInvestment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Value, Conversion Of Shares Held For Investment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_StockIssuedDuringPeriodValueConversionOfSharesHeldForInvestment" xlink:href="none-20251231.xsd#none_StockIssuedDuringPeriodValueConversionOfSharesHeldForInvestment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_StockIssuedDuringPeriodValueConversionOfSharesHeldForInvestment" xlink:to="lab_none_StockIssuedDuringPeriodValueConversionOfSharesHeldForInvestment" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DepreciationAndAmortization_d68e55c0-8ce9-468e-81dc-b5684236700c_verboseLabel_en-US" xlink:label="lab_us-gaap_DepreciationAndAmortization" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_us-gaap_DepreciationAndAmortization_ad5d7c18-762f-4a3b-a8e8-ffbeded2e087_terseLabel_en-US" xlink:label="lab_us-gaap_DepreciationAndAmortization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_us-gaap_DepreciationAndAmortization_label_en-US" xlink:label="lab_us-gaap_DepreciationAndAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, Depletion and Amortization, Nonproduction</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepreciationAndAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DepreciationAndAmortization"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepreciationAndAmortization" xlink:to="lab_us-gaap_DepreciationAndAmortization" xlink:type="arc" order="1"/>
    <link:label id="lab_none_ScienceFirstYuleeFLMember_019c6a44-4757-799d-a742-b04398b55c41_terseLabel_en-US" xlink:label="lab_none_ScienceFirstYuleeFLMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Science First, Yulee, FL</link:label>
    <link:label id="lab_none_ScienceFirstYuleeFLMember_label_en-US" xlink:label="lab_none_ScienceFirstYuleeFLMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Science First, Yulee, FL [Member]</link:label>
    <link:label id="lab_none_ScienceFirstYuleeFLMember_documentation_en-US" xlink:label="lab_none_ScienceFirstYuleeFLMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Science First, Yulee, FL</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_ScienceFirstYuleeFLMember" xlink:href="none-20251231.xsd#none_ScienceFirstYuleeFLMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_ScienceFirstYuleeFLMember" xlink:to="lab_none_ScienceFirstYuleeFLMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateOtherDeductions_889bf3bf-6f3b-4598-81fb-be444c2eb142_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_RealEstateOtherDeductions" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Held for sale</link:label>
    <link:label id="lab_us-gaap_RealEstateOtherDeductions_label_en-US" xlink:label="lab_us-gaap_RealEstateOtherDeductions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Other Deduction</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateOtherDeductions" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateOtherDeductions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateOtherDeductions" xlink:to="lab_us-gaap_RealEstateOtherDeductions" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_245f9714-acf2-45bf-aafb-4e9b1248036c_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateHeldForDevelopmentAndSalePolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Held for Sale</link:label>
    <link:label id="lab_us-gaap_RealEstateHeldForDevelopmentAndSalePolicy_label_en-US" xlink:label="lab_us-gaap_RealEstateHeldForDevelopmentAndSalePolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Held for Development and Sale, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateHeldForDevelopmentAndSalePolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateHeldForDevelopmentAndSalePolicy"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateHeldForDevelopmentAndSalePolicy" xlink:to="lab_us-gaap_RealEstateHeldForDevelopmentAndSalePolicy" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockRedeemedOrCalledDuringPeriodShares_ea9d544c-cdae-47f5-a2a7-9d57d7dbccff_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_StockRedeemedOrCalledDuringPeriodShares" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repurchase of CS and Class C OP Units (in shares)</link:label>
    <link:label id="lab_us-gaap_StockRedeemedOrCalledDuringPeriodShares_label_en-US" xlink:label="lab_us-gaap_StockRedeemedOrCalledDuringPeriodShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Redeemed or Called During Period, Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockRedeemedOrCalledDuringPeriodShares" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockRedeemedOrCalledDuringPeriodShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRedeemedOrCalledDuringPeriodShares" xlink:to="lab_us-gaap_StockRedeemedOrCalledDuringPeriodShares" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward_c8f8c5ad-3f1c-4eb1-8abe-daf6299c6482_verboseLabel_en-US" xlink:label="lab_us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Real estate investments:</link:label>
    <link:label id="lab_us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward_label_en-US" xlink:label="lab_us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" xlink:to="lab_us-gaap_ReconciliationOfCarryingAmountOfRealEstateInvestmentsRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_6e48f69c-63a2-4255-8282-e92a17e9cbcc_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementOfCashFlowsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract" xlink:to="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CoSelectedMeasureAmt_terseLabel_en-US" xlink:label="lab_ecd_CoSelectedMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Company Selected Measure Amount</link:label>
    <link:label id="lab_ecd_CoSelectedMeasureAmt_label_en-US" xlink:label="lab_ecd_CoSelectedMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Company Selected Measure Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CoSelectedMeasureAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_CoSelectedMeasureAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CoSelectedMeasureAmt" xlink:to="lab_ecd_CoSelectedMeasureAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_none_PreferredStockDividendsPerShareDeclaredQuarterly_a8e3b0a1-5247-4122-bf70-6e67c35d0a18_terseLabel_en-US" xlink:label="lab_none_PreferredStockDividendsPerShareDeclaredQuarterly" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cumulative dividends per quarter (in USD per share)</link:label>
    <link:label id="lab_none_PreferredStockDividendsPerShareDeclaredQuarterly_label_en-US" xlink:label="lab_none_PreferredStockDividendsPerShareDeclaredQuarterly" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Dividends Per Share, Declared, Quarterly</link:label>
    <link:label id="lab_none_PreferredStockDividendsPerShareDeclaredQuarterly_documentation_en-US" xlink:label="lab_none_PreferredStockDividendsPerShareDeclaredQuarterly" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Preferred Stock, Dividends Per Share, Declared, Quarterly</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_PreferredStockDividendsPerShareDeclaredQuarterly" xlink:href="none-20251231.xsd#none_PreferredStockDividendsPerShareDeclaredQuarterly"/>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecurityDepositLiability" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SecurityDepositLiability"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecurityDepositLiability" xlink:to="lab_us-gaap_SecurityDepositLiability" xlink:type="arc" order="1"/>
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    <link:label id="lab_us-gaap_SecuredDebtMember_4e038506-a115-4cc5-ba7c-c76f3545f469_terseLabel_en-US" xlink:label="lab_us-gaap_SecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage&#160;Notes Payable</link:label>
    <link:label id="lab_us-gaap_SecuredDebtMember_label_en-US" xlink:label="lab_us-gaap_SecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Debt [Member]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuredDebtMember" xlink:to="lab_us-gaap_SecuredDebtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_UnsecuredDebtMember_d2eeebea-b27a-4b78-8c7f-964103aa413d_terseLabel_en-US" xlink:label="lab_us-gaap_UnsecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unsecured Debt</link:label>
    <link:label id="lab_us-gaap_UnsecuredDebtMember_e673b385-525b-4444-8031-2934bce7b9c5_verboseLabel_en-US" xlink:label="lab_us-gaap_UnsecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Credit facility</link:label>
    <link:label id="lab_us-gaap_UnsecuredDebtMember_label_en-US" xlink:label="lab_us-gaap_UnsecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unsecured Debt [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnsecuredDebtMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_UnsecuredDebtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnsecuredDebtMember" xlink:to="lab_us-gaap_UnsecuredDebtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OffMarketFavorableLeaseMember_bc0d0c60-6dc2-4094-9682-4500d85178ac_terseLabel_en-US" xlink:label="lab_us-gaap_OffMarketFavorableLeaseMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Below-Market Lease Intangibles</link:label>
    <link:label id="lab_us-gaap_OffMarketFavorableLeaseMember_8ea382f1-e90c-4246-bbe7-0f5b3764b064_verboseLabel_en-US" xlink:label="lab_us-gaap_OffMarketFavorableLeaseMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Below-Market Lease Intangibles</link:label>
    <link:label id="lab_us-gaap_OffMarketFavorableLeaseMember_label_en-US" xlink:label="lab_us-gaap_OffMarketFavorableLeaseMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Off-Market Favorable Lease [Member]</link:label>
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    <link:label id="lab_none_OtherInvestmentsSimpleAgreementsForFutureEquityNumberOfEntities_f5baedd2-202f-4264-8a83-e07c947d249d_terseLabel_en-US" xlink:label="lab_none_OtherInvestmentsSimpleAgreementsForFutureEquityNumberOfEntities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of entities</link:label>
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    <link:label id="lab_us-gaap_ConcentrationRiskByTypeAxis_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskByTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskByTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskByTypeAxis" xlink:to="lab_us-gaap_ConcentrationRiskByTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAtCost_e8d5cb9a-66e5-4534-beed-78b843a7a5f7_totalLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total investments in real estate property</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAtCost_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, at Cost</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateInvestmentPropertyAtCost"/>
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    <link:label id="lab_none_LindsayCanalFulton2Member_81af26d7-2c83-4d7a-b517-7e6c1fa834ba_terseLabel_en-US" xlink:label="lab_none_LindsayCanalFulton2Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lindsay, Canal Fulton 2</link:label>
    <link:label id="lab_none_LindsayCanalFulton2Member_label_en-US" xlink:label="lab_none_LindsayCanalFulton2Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lindsay, Canal Fulton 2 [Member]</link:label>
    <link:label id="lab_none_LindsayCanalFulton2Member_documentation_en-US" xlink:label="lab_none_LindsayCanalFulton2Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lindsay, Canal Fulton 2</link:label>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_ec912d6c-2abd-49fb-9447-c14f29014a09_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2029</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour"/>
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    <link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_95a53fd3-57cf-41a0-aefe-9e63ae899c72_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends (in usd per share)</link:label>
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_label_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Dividends, Per Share, Declared</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockDividendsPerShareDeclared" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonStockDividendsPerShareDeclared"/>
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    <link:label id="lab_dei_EntityCommonStockSharesOutstanding_972f78c3-00c2-4cd8-a1d8-19287890a1e0_terseLabel_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
    <link:label id="lab_dei_EntityCommonStockSharesOutstanding_label_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCommonStockSharesOutstanding" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityCommonStockSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCommonStockSharesOutstanding" xlink:to="lab_dei_EntityCommonStockSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AmortizationOfDeferredHedgeGains_0cf167d4-220c-48d6-b179-255841d07a26_verboseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfDeferredHedgeGains" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Amortization of unrealized holding gain and unrealized gain on non-designated or ineffective interest rate derivative instruments</link:label>
    <link:label id="lab_us-gaap_AmortizationOfDeferredHedgeGains_label_en-US" xlink:label="lab_us-gaap_AmortizationOfDeferredHedgeGains" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Deferred Hedge Gains</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AmortizationOfDeferredHedgeGains" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AmortizationOfDeferredHedgeGains"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfDeferredHedgeGains" xlink:to="lab_us-gaap_AmortizationOfDeferredHedgeGains" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentFinStmtErrorCorrectionFlag_019c324a-3764-7f73-b609-112b8bd62406_terseLabel_en-US" xlink:label="lab_dei_DocumentFinStmtErrorCorrectionFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Financial Statement Error Correction [Flag]</link:label>
    <link:label id="lab_dei_DocumentFinStmtErrorCorrectionFlag_label_en-US" xlink:label="lab_dei_DocumentFinStmtErrorCorrectionFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Financial Statement Error Correction [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentFinStmtErrorCorrectionFlag" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentFinStmtErrorCorrectionFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFinStmtErrorCorrectionFlag" xlink:to="lab_dei_DocumentFinStmtErrorCorrectionFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestments_df58e420-b6d9-41c9-94cd-dc13a7f8a327_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unconsolidated investment in a real estate property</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestments_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EquityMethodInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestments" xlink:to="lab_us-gaap_EquityMethodInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock_terseLabel_en-US" xlink:label="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures Not Adopted</link:label>
    <link:label id="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock_label_en-US" xlink:label="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures Not Adopted [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock"/>
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    <link:label id="lab_us-gaap_BusinessAcquisitionAcquireeDomain_56ec9a4c-4f71-4b11-91ae-f544dff1b925_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAcquireeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Combination [Domain]</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionAcquireeDomain_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAcquireeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionAcquireeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain" xlink:to="lab_us-gaap_BusinessAcquisitionAcquireeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentInformationTable_b17e0004-40c6-4240-b0a7-dfdec63d9e7a_terseLabel_en-US" xlink:label="lab_dei_DocumentInformationTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Information [Table]</link:label>
    <link:label id="lab_dei_DocumentInformationTable_label_en-US" xlink:label="lab_dei_DocumentInformationTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentInformationTable" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentInformationTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentInformationTable" xlink:to="lab_dei_DocumentInformationTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoMember_terseLabel_en-US" xlink:label="lab_ecd_PeoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO</link:label>
    <link:label id="lab_ecd_PeoMember_label_en-US" xlink:label="lab_ecd_PeoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PeoMember"/>
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    <link:label id="lab_us-gaap_NoncashInvestingAndFinancingItemsAbstract_b16dcf67-cd12-4ba5-ad42-4f9c15ad0068_verboseLabel_en-US" xlink:label="lab_us-gaap_NoncashInvestingAndFinancingItemsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Supplemental Schedule of Noncash Investing and Financing Activities:</link:label>
    <link:label id="lab_us-gaap_NoncashInvestingAndFinancingItemsAbstract_label_en-US" xlink:label="lab_us-gaap_NoncashInvestingAndFinancingItemsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncash Investing and Financing Items [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoncashInvestingAndFinancingItemsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NoncashInvestingAndFinancingItemsAbstract"/>
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    <link:label id="lab_none_LindsayColoradoSpringsCO2Member_019c6a54-162e-7529-8304-b972c4ad6b8e_verboseLabel_en-US" xlink:label="lab_none_LindsayColoradoSpringsCO2Member" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Lindsay Colorado Springs 2</link:label>
    <link:label id="lab_none_LindsayColoradoSpringsCO2Member_label_en-US" xlink:label="lab_none_LindsayColoradoSpringsCO2Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lindsay Colorado Springs, CO 2 [Member]</link:label>
    <link:label id="lab_none_LindsayColoradoSpringsCO2Member_documentation_en-US" xlink:label="lab_none_LindsayColoradoSpringsCO2Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lindsay Colorado Springs, CO 2</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_LindsayColoradoSpringsCO2Member" xlink:href="none-20251231.xsd#none_LindsayColoradoSpringsCO2Member"/>
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    <link:label id="lab_none_DerivativeLiabilityAdditionalNotionalAmount_f783780c-2843-4b7c-b5cd-ecab25a42275_terseLabel_en-US" xlink:label="lab_none_DerivativeLiabilityAdditionalNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional notional amount</link:label>
    <link:label id="lab_none_DerivativeLiabilityAdditionalNotionalAmount_label_en-US" xlink:label="lab_none_DerivativeLiabilityAdditionalNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Liability, Additional Notional Amount</link:label>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_6b637ee7-af36-4aaf-9511-355bc00bf4e5_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changes in operating assets and liabilities:</link:label>
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    <link:label id="lab_us-gaap_RetainedEarningsMember_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings [Member]</link:label>
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    <link:label id="lab_us-gaap_IncomeStatementAbstract_2cd8c0db-6624-4826-b79e-e0f7470c70b5_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:label id="lab_us-gaap_IncomeStatementAbstract_label_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeStatementAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncomeStatementAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementAbstract" xlink:to="lab_us-gaap_IncomeStatementAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_bad3798d-7ded-4450-964f-b6c995274686_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Acquisitions of real estate investments</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_74216761-eafb-4da5-bba1-2f5bd1c30b60_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payment for property acquisition</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payment for Acquisition, Real Estate, Held-for-Investment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsToAcquireRealEstateHeldForInvestment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment" xlink:to="lab_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment" xlink:type="arc" order="1"/>
    <link:label id="lab_none_VistechPiquaOHMember_9cf86148-a0ab-49e4-9e81-85f6be70f36c_terseLabel_en-US" xlink:label="lab_none_VistechPiquaOHMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vistech, Piqua, OH</link:label>
    <link:label id="lab_none_VistechPiquaOHMember_label_en-US" xlink:label="lab_none_VistechPiquaOHMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vistech, Piqua, OH [Member]</link:label>
    <link:label id="lab_none_VistechPiquaOHMember_documentation_en-US" xlink:label="lab_none_VistechPiquaOHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Vistech, Piqua, OH</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_VistechPiquaOHMember" xlink:href="none-20251231.xsd#none_VistechPiquaOHMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_VistechPiquaOHMember" xlink:to="lab_none_VistechPiquaOHMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SaleOfStockNameOfTransactionDomain_398e1217-740f-4e14-8dc5-798e81ff3531_terseLabel_en-US" xlink:label="lab_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of Stock [Domain]</link:label>
    <link:label id="lab_us-gaap_SaleOfStockNameOfTransactionDomain_label_en-US" xlink:label="lab_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale of Stock [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SaleOfStockNameOfTransactionDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:to="lab_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MeasurementInputExpectedDividendRateMember_3bb35e82-6786-4d4e-a64a-1dff512fbf3c_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputExpectedDividendRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement Input, Expected Dividend Rate</link:label>
    <link:label id="lab_us-gaap_MeasurementInputExpectedDividendRateMember_label_en-US" xlink:label="lab_us-gaap_MeasurementInputExpectedDividendRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input, Expected Dividend Rate [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputExpectedDividendRateMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MeasurementInputExpectedDividendRateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputExpectedDividendRateMember" xlink:to="lab_us-gaap_MeasurementInputExpectedDividendRateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AboveMarketLeasesMember_78315f3b-f679-48f6-bc0e-4ce59bca2324_terseLabel_en-US" xlink:label="lab_us-gaap_AboveMarketLeasesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Above Market Leases</link:label>
    <link:label id="lab_us-gaap_AboveMarketLeasesMember_fe1291b7-8965-48b1-b0ba-d4ee252b8e21_verboseLabel_en-US" xlink:label="lab_us-gaap_AboveMarketLeasesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Above-Market Lease Intangibles</link:label>
    <link:label id="lab_us-gaap_AboveMarketLeasesMember_label_en-US" xlink:label="lab_us-gaap_AboveMarketLeasesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Above Market Leases [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AboveMarketLeasesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AboveMarketLeasesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AboveMarketLeasesMember" xlink:to="lab_us-gaap_AboveMarketLeasesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_none_DisposalGroupIncludingDiscontinuedOperationLandBuildingAndImprovements_a39fc88a-ad65-46a9-80db-53e17ef6a6ee_terseLabel_en-US" xlink:label="lab_none_DisposalGroupIncludingDiscontinuedOperationLandBuildingAndImprovements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land, buildings and improvements</link:label>
    <link:label id="lab_none_DisposalGroupIncludingDiscontinuedOperationLandBuildingAndImprovements_label_en-US" xlink:label="lab_none_DisposalGroupIncludingDiscontinuedOperationLandBuildingAndImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal Group, Including Discontinued Operation, Land Building And Improvements</link:label>
    <link:label id="lab_none_DisposalGroupIncludingDiscontinuedOperationLandBuildingAndImprovements_documentation_en-US" xlink:label="lab_none_DisposalGroupIncludingDiscontinuedOperationLandBuildingAndImprovements" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disposal Group, Including Discontinued Operation, Land Building And Improvements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_DisposalGroupIncludingDiscontinuedOperationLandBuildingAndImprovements" xlink:href="none-20251231.xsd#none_DisposalGroupIncludingDiscontinuedOperationLandBuildingAndImprovements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_DisposalGroupIncludingDiscontinuedOperationLandBuildingAndImprovements" xlink:to="lab_none_DisposalGroupIncludingDiscontinuedOperationLandBuildingAndImprovements" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ParentMember_831dfcd9-64a8-4076-93a0-bfda38146966_terseLabel_en-US" xlink:label="lab_us-gaap_ParentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Modiv Industrial, Inc. Equity</link:label>
    <link:label id="lab_us-gaap_ParentMember_label_en-US" xlink:label="lab_us-gaap_ParentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Parent [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ParentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ParentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ParentMember" xlink:to="lab_us-gaap_ParentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProfitLoss_d2dd2dfd-a9be-4644-8c50-f025fc6915ce_totalLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_e20c9ad4-b973-48f7-9671-113f9245f04a_terseLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_83299df8-b524-4118-8160-03e25ea463fd_netLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Net income (loss)</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_e7253688-c1a5-4453-8560-4aa54ab434ca_verboseLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net income</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_label_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss), Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProfitLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProfitLoss" xlink:to="lab_us-gaap_ProfitLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_d30422bb-f12d-44b7-a753-9e5e98766f77_verboseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock_terseLabel_en-US" xlink:label="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restatement does not require Recovery</link:label>
    <link:label id="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock_label_en-US" xlink:label="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restatement Does Not Require Recovery [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_RestatementDoesNotRequireRecoveryTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:to="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_ff8bd1f8-2492-4e79-a455-1934a4bded22_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Combination [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:to="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeNotionalAmount_e7e54269-e2da-425d-8895-f65fe8bd79c0_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amount of derivative agreement</link:label>
    <link:label id="lab_us-gaap_DerivativeNotionalAmount_label_en-US" xlink:label="lab_us-gaap_DerivativeNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Notional Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeNotionalAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeNotionalAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeNotionalAmount" xlink:to="lab_us-gaap_DerivativeNotionalAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_none_StealthManufacturingSavageMNMember_b1af79fc-63d4-46fb-958f-72fc3a9e11f2_terseLabel_en-US" xlink:label="lab_none_StealthManufacturingSavageMNMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stealth Manufacturing, Savage, MN</link:label>
    <link:label id="lab_none_StealthManufacturingSavageMNMember_label_en-US" xlink:label="lab_none_StealthManufacturingSavageMNMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stealth Manufacturing, Savage, MN [Member]</link:label>
    <link:label id="lab_none_StealthManufacturingSavageMNMember_documentation_en-US" xlink:label="lab_none_StealthManufacturingSavageMNMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Stealth Manufacturing, Savage, MN</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_StealthManufacturingSavageMNMember" xlink:href="none-20251231.xsd#none_StealthManufacturingSavageMNMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_StealthManufacturingSavageMNMember" xlink:to="lab_none_StealthManufacturingSavageMNMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CityAreaCode_d2f9982f-236d-4794-aa42-5e6135f27a0d_terseLabel_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:label id="lab_dei_CityAreaCode_label_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CityAreaCode" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_CityAreaCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CityAreaCode" xlink:to="lab_dei_CityAreaCode" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing, How MNPI Considered</link:label>
    <link:label id="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock_label_en-US" xlink:label="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing, How MNPI Considered [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgHowMnpiCnsdrdTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:to="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MortgagesMember_c4bb9e90-d353-43ee-931f-4a4ebd018961_terseLabel_en-US" xlink:label="lab_us-gaap_MortgagesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgages</link:label>
    <link:label id="lab_us-gaap_MortgagesMember_231d8d7d-09c6-4979-a10a-c968e907c1b8_verboseLabel_en-US" xlink:label="lab_us-gaap_MortgagesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Mortgage notes payable, net</link:label>
    <link:label id="lab_us-gaap_MortgagesMember_label_en-US" xlink:label="lab_us-gaap_MortgagesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgages [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MortgagesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MortgagesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgagesMember" xlink:to="lab_us-gaap_MortgagesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashDistributionMember_914fc902-68d7-448a-bf78-3a61d510e77b_terseLabel_en-US" xlink:label="lab_us-gaap_CashDistributionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash Distribution</link:label>
    <link:label id="lab_us-gaap_CashDistributionMember_label_en-US" xlink:label="lab_us-gaap_CashDistributionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Distribution [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashDistributionMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CashDistributionMember"/>
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_6b593ed7-50b8-4bee-b748-f74f645983a0_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash Flows from Investing Activities:</link:label>
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    <link:label id="lab_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate_0d5384f5-1136-472b-8fb3-8f9fbde9c408_terseLabel_en-US" xlink:label="lab_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain on sale of real estate investments, net</link:label>
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    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_48f9dedd-f3fb-44da-80b4-abdcb9e1ba0f_verboseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">2026</link:label>
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    <link:label id="lab_us-gaap_EscrowDepositsRelatedToPropertySales_66916b85-aec9-4d59-9a44-67329008b318_terseLabel_en-US" xlink:label="lab_us-gaap_EscrowDepositsRelatedToPropertySales" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Escrow deposits related to property sales</link:label>
    <link:label id="lab_us-gaap_EscrowDepositsRelatedToPropertySales_label_en-US" xlink:label="lab_us-gaap_EscrowDepositsRelatedToPropertySales" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Escrow Deposits Related to Property Sales</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EscrowDepositsRelatedToPropertySales" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EscrowDepositsRelatedToPropertySales"/>
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    <link:label id="lab_none_GainOrLossOnSaleOfRealEstateInvestmentsPolicyTextBlock_2458e6c5-50ea-4192-99b9-b580818a703f_terseLabel_en-US" xlink:label="lab_none_GainOrLossOnSaleOfRealEstateInvestmentsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain or Loss on Sale of Real Estate Investments</link:label>
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    <link:label id="lab_us-gaap_InterestPaidNet_f96ea891-168f-4169-964f-6e8d86aa64db_terseLabel_en-US" xlink:label="lab_us-gaap_InterestPaidNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash paid for interest</link:label>
    <link:label id="lab_us-gaap_InterestPaidNet_label_en-US" xlink:label="lab_us-gaap_InterestPaidNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Paid, Excluding Capitalized Interest, Operating Activity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestPaidNet" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestPaidNet"/>
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    <link:label id="lab_us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeAxis_4ff865f3-2801-4058-87a2-4371f00f5f54_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Nonconsolidated Investee [Axis]</link:label>
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    <link:label id="lab_us-gaap_EquityAbstract_label_en-US" xlink:label="lab_us-gaap_EquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity [Abstract]</link:label>
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    <link:label id="lab_us-gaap_RealEstateInvestments_baa44f6a-54d7-4553-b2d9-7c5283cff025_totalLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestments" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total real estate investments, net, excluding real estate investments held for sale, net</link:label>
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    <link:label id="lab_us-gaap_BuildingMember_6cc3b5e5-c999-4efd-8338-583d7f113c5b_terseLabel_en-US" xlink:label="lab_us-gaap_BuildingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buildings</link:label>
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    <link:label id="lab_none_LeverageRatioScenarioDomain_documentation_en-US" xlink:label="lab_none_LeverageRatioScenarioDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Leverage Ratio Scenario [Domain]</link:label>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_d1ecc2e9-18ab-4b24-ad37-0e16ed03b31b_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Stockholders' Equity</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Stockholders' Equity [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncreaseDecreaseInStockholdersEquityRollForward"/>
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    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities_1c570df2-942e-4123-a34c-adc945b81f71_terseLabel_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
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    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities_documentation_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of other liabilities reported by an equity method investment of the entity.</link:label>
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    <link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_6fe78092-df28-4281-b374-357cae01be26_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets amortization expense</link:label>
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    <link:label id="lab_us-gaap_StockRedeemedOrCalledDuringPeriodValue_e174cb3b-9ea2-449f-87c9-4a42b747ab19_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_StockRedeemedOrCalledDuringPeriodValue" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repurchase of CS and Class C OP Units</link:label>
    <link:label id="lab_us-gaap_StockRedeemedOrCalledDuringPeriodValue_label_en-US" xlink:label="lab_us-gaap_StockRedeemedOrCalledDuringPeriodValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Redeemed or Called During Period, Value</link:label>
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    <link:label id="lab_none_DividendsPayableAnnualDistributionRate_4bea2403-45cc-4d25-a639-85427ca5ff8b_terseLabel_en-US" xlink:label="lab_none_DividendsPayableAnnualDistributionRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual distribution rate (as a percent)</link:label>
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    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodValue_e2adfbe9-db37-4911-92a4-796c9bbf36d3_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodValue" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repurchase of preferred stock</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodValue_06beaae2-8517-4646-8e83-facec59fe743_terseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchase of preferred stock</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodValue_label_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchased During Period, Value</link:label>
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    <link:label id="lab_us-gaap_PreferredStockDividendRatePerDollarAmount_2f85997b-d89a-46a0-a455-ecbba0aa8308_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockDividendRatePerDollarAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, dividend rate, per-dollar-amount (in usd per share)</link:label>
    <link:label id="lab_us-gaap_PreferredStockDividendRatePerDollarAmount_label_en-US" xlink:label="lab_us-gaap_PreferredStockDividendRatePerDollarAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Dividend Rate, Per-Dollar-Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockDividendRatePerDollarAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PreferredStockDividendRatePerDollarAmount"/>
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    <link:label id="lab_srt_IndustrialPropertyMember_94c3dc2a-f4a9-4540-b61c-ef6d36841fbf_verboseLabel_en-US" xlink:label="lab_srt_IndustrialPropertyMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Industrial Property</link:label>
    <link:label id="lab_srt_IndustrialPropertyMember_45c3a427-2cc8-40b1-ae74-62a9686372e3_terseLabel_en-US" xlink:label="lab_srt_IndustrialPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Industrial equipment</link:label>
    <link:label id="lab_srt_IndustrialPropertyMember_label_en-US" xlink:label="lab_srt_IndustrialPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Industrial Property [Member]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_IndustrialPropertyMember" xlink:to="lab_srt_IndustrialPropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SaleOfStockConsiderationReceivedOnTransaction_ec3bbdaa-e7b7-4bdf-a075-57ff673d3bf4_terseLabel_en-US" xlink:label="lab_us-gaap_SaleOfStockConsiderationReceivedOnTransaction" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares issued, value</link:label>
    <link:label id="lab_us-gaap_SaleOfStockConsiderationReceivedOnTransaction_label_en-US" xlink:label="lab_us-gaap_SaleOfStockConsiderationReceivedOnTransaction" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale of Stock, Consideration Received on Transaction</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SaleOfStockConsiderationReceivedOnTransaction" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SaleOfStockConsiderationReceivedOnTransaction"/>
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    <link:label id="lab_none_IndustrialPropertyIncludingTenantInCommonInterestMember_5ee8a8fd-b217-4529-8b5e-817d317f1097_terseLabel_en-US" xlink:label="lab_none_IndustrialPropertyIncludingTenantInCommonInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenant-in-common interest</link:label>
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    <link:label id="lab_us-gaap_RevolvingCreditFacilityMember_a7771257-232a-4040-8297-c9ae01ceea55_terseLabel_en-US" xlink:label="lab_us-gaap_RevolvingCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revolving Credit Facility</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevolvingCreditFacilityMember" xlink:to="lab_us-gaap_RevolvingCreditFacilityMember" xlink:type="arc" order="1"/>
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    <link:label id="lab_none_NewInterestRateSwapAgreementsMember_7638b2c6-b73b-4ba7-b417-9c4761edf2e4_terseLabel_en-US" xlink:label="lab_none_NewInterestRateSwapAgreementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">New Interest Rate Swap Agreements</link:label>
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    <link:label id="lab_none_NewInterestRateSwapAgreementsMember_documentation_en-US" xlink:label="lab_none_NewInterestRateSwapAgreementsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">New Interest Rate Swap Agreements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_NewInterestRateSwapAgreementsMember" xlink:href="none-20251231.xsd#none_NewInterestRateSwapAgreementsMember"/>
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    <link:label id="lab_none_ATMOfferingMember_ad36d581-9ea5-46cf-96ce-6d5e2eca69ad_terseLabel_en-US" xlink:label="lab_none_ATMOfferingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">ATM Offering</link:label>
    <link:label id="lab_none_ATMOfferingMember_label_en-US" xlink:label="lab_none_ATMOfferingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ATM Offering [Member]</link:label>
    <link:label id="lab_none_ATMOfferingMember_documentation_en-US" xlink:label="lab_none_ATMOfferingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">ATM Offering</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_ATMOfferingMember" xlink:href="none-20251231.xsd#none_ATMOfferingMember"/>
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    <link:label id="lab_dei_LocalPhoneNumber_67ad15f0-bb35-444e-99a4-d6f884c5e6b9_terseLabel_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Local Phone Number</link:label>
    <link:label id="lab_dei_LocalPhoneNumber_label_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Local Phone Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LocalPhoneNumber" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_LocalPhoneNumber"/>
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    <link:label id="lab_ecd_Additional402vDisclosureTextBlock_terseLabel_en-US" xlink:label="lab_ecd_Additional402vDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional 402(v) Disclosure</link:label>
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    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_019b9db6-6432-770c-b0a0-1664e01debc6_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
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    <link:label id="lab_us-gaap_AssetsAbstract_815a198b-cf60-4576-8bd0-6c51717b000c_verboseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Assets:</link:label>
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    <link:label id="lab_us-gaap_CreditFacilityAxis_dac46243-29ed-4ec1-8add-1368ae914a16_terseLabel_en-US" xlink:label="lab_us-gaap_CreditFacilityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit Facility [Axis]</link:label>
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    <link:label id="lab_us-gaap_DebtInstrumentAxis_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument [Axis]</link:label>
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    <link:label id="lab_us-gaap_RealEstateAcquisitionsThroughForeclosures_f6027ae4-6816-499c-8b54-344e7edfaeae_verboseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAcquisitionsThroughForeclosures" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Acquisitions</link:label>
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    <link:label id="lab_us-gaap_BusinessAcquisitionLineItems_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionLineItems"/>
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    <link:label id="lab_us-gaap_CreditFacilityDomain_7af254be-1051-42df-9f29-3fff10e6a8a7_terseLabel_en-US" xlink:label="lab_us-gaap_CreditFacilityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit Facility [Domain]</link:label>
    <link:label id="lab_us-gaap_CreditFacilityDomain_label_en-US" xlink:label="lab_us-gaap_CreditFacilityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Facility [Domain]</link:label>
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    <link:label id="lab_us-gaap_InvestmentBuildingAndBuildingImprovements_b9c15b19-d4b7-40f7-9819-52de781fbcac_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentBuildingAndBuildingImprovements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buildings and improvements</link:label>
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    <link:label id="lab_us-gaap_RealEstatePropertiesDomain_label_en-US" xlink:label="lab_us-gaap_RealEstatePropertiesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Properties [Domain]</link:label>
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    <link:label id="lab_dei_EntityRegistrantName_183af3c3-f8b4-45eb-b792-e8ec2463a3e5_terseLabel_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:label id="lab_dei_EntityRegistrantName_label_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityRegistrantName" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityRegistrantName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityRegistrantName" xlink:to="lab_dei_EntityRegistrantName" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock_terseLabel_en-US" xlink:label="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock Price or TSR Estimation Method</link:label>
    <link:label id="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock_label_en-US" xlink:label="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Price or TSR Estimation Method [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_StkPrcOrTsrEstimationMethodTextBlock"/>
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    <link:label id="lab_none_TimeVestingUnitsMember_3dbead9f-98c5-427e-a5b2-47a97fde5142_terseLabel_en-US" xlink:label="lab_none_TimeVestingUnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Time Vesting Units</link:label>
    <link:label id="lab_none_TimeVestingUnitsMember_label_en-US" xlink:label="lab_none_TimeVestingUnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Time Vesting Units [Member]</link:label>
    <link:label id="lab_none_TimeVestingUnitsMember_documentation_en-US" xlink:label="lab_none_TimeVestingUnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Time Vesting Units</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_TimeVestingUnitsMember" xlink:href="none-20251231.xsd#none_TimeVestingUnitsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_TimeVestingUnitsMember" xlink:to="lab_none_TimeVestingUnitsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestExpenseOther_e6d2eb41-2356-4d4a-88e1-ea32c4201905_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseOther" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_us-gaap_InterestExpenseOther_label_en-US" xlink:label="lab_us-gaap_InterestExpenseOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Other</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpenseOther" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestExpenseOther"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseOther" xlink:to="lab_us-gaap_InterestExpenseOther" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateAccumulatedDepreciationOtherDeductions_ef853b6a-4010-49c8-bc76-77e2a89f7e4c_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAccumulatedDepreciationOtherDeductions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Held for sale</link:label>
    <link:label id="lab_us-gaap_RealEstateAccumulatedDepreciationOtherDeductions_label_en-US" xlink:label="lab_us-gaap_RealEstateAccumulatedDepreciationOtherDeductions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation, Other Deduction</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateAccumulatedDepreciationOtherDeductions" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateAccumulatedDepreciationOtherDeductions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAccumulatedDepreciationOtherDeductions" xlink:to="lab_us-gaap_RealEstateAccumulatedDepreciationOtherDeductions" xlink:type="arc" order="1"/>
    <link:label id="lab_none_NewInterestSwapAgreementOneMember_6c068204-6565-46a2-afad-58cfa83267a2_terseLabel_en-US" xlink:label="lab_none_NewInterestSwapAgreementOneMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">New Interest Swap Agreement One</link:label>
    <link:label id="lab_none_NewInterestSwapAgreementOneMember_label_en-US" xlink:label="lab_none_NewInterestSwapAgreementOneMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New Interest Swap Agreement One [Member]</link:label>
    <link:label id="lab_none_NewInterestSwapAgreementOneMember_documentation_en-US" xlink:label="lab_none_NewInterestSwapAgreementOneMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">New Interest Swap Agreement One</link:label>
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    <link:label id="lab_none_ClassROPUnitsMember_13418998-9ea8-4a62-adb0-8f88e83ea394_terseLabel_en-US" xlink:label="lab_none_ClassROPUnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class R OP Units</link:label>
    <link:label id="lab_none_ClassROPUnitsMember_label_en-US" xlink:label="lab_none_ClassROPUnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class R OP Units [Member]</link:label>
    <link:label id="lab_none_ClassROPUnitsMember_documentation_en-US" xlink:label="lab_none_ClassROPUnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Class R OP Units</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_ClassROPUnitsMember" xlink:href="none-20251231.xsd#none_ClassROPUnitsMember"/>
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    <link:label id="lab_none_RealEstatePortfolioInvestmentAllocationPercentage_7f92e667-2954-4af9-a554-30ee62cafa79_terseLabel_en-US" xlink:label="lab_none_RealEstatePortfolioInvestmentAllocationPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment allocation (as a percent)</link:label>
    <link:label id="lab_none_RealEstatePortfolioInvestmentAllocationPercentage_label_en-US" xlink:label="lab_none_RealEstatePortfolioInvestmentAllocationPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Portfolio, Investment Allocation, Percentage</link:label>
    <link:label id="lab_none_RealEstatePortfolioInvestmentAllocationPercentage_documentation_en-US" xlink:label="lab_none_RealEstatePortfolioInvestmentAllocationPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Portfolio, Investment Allocation, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_RealEstatePortfolioInvestmentAllocationPercentage" xlink:href="none-20251231.xsd#none_RealEstatePortfolioInvestmentAllocationPercentage"/>
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    <link:label id="lab_us-gaap_ScheduleOfDebtTableTextBlock_5017a27a-58e0-4d72-86d1-fe9e2913b11b_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Mortgage Notes Payable Net</link:label>
    <link:label id="lab_us-gaap_ScheduleOfDebtTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Debt [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDebtTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfDebtTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDebtTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfDebtTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstatePropertiesAxis_b35931c4-32b6-425a-a1df-bfa91f227066_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstatePropertiesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Property Ownership [Axis]</link:label>
    <link:label id="lab_us-gaap_RealEstatePropertiesAxis_label_en-US" xlink:label="lab_us-gaap_RealEstatePropertiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Property Ownership [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstatePropertiesAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstatePropertiesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstatePropertiesAxis" xlink:to="lab_us-gaap_RealEstatePropertiesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_d150dec8-ba32-4f20-9c52-26f9e9df4f8c_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party [Axis]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related and Nonrelated Parties [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherOwnershipInterestsNameDomain_e926ec74-39c3-4bd7-b1f9-9cc80a83ddba_terseLabel_en-US" xlink:label="lab_us-gaap_OtherOwnershipInterestsNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Ownership Interests, Name [Domain]</link:label>
    <link:label id="lab_us-gaap_OtherOwnershipInterestsNameDomain_label_en-US" xlink:label="lab_us-gaap_OtherOwnershipInterestsNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Ownership Interests, Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherOwnershipInterestsNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherOwnershipInterestsNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherOwnershipInterestsNameDomain" xlink:to="lab_us-gaap_OtherOwnershipInterestsNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_37de3fde-2c94-44c1-a95a-9c2ec0e50d5f_verboseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Intangible Assets</link:label>
    <link:label id="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Finite-Lived Intangible Assets [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RestatementDateAxis_terseLabel_en-US" xlink:label="lab_ecd_RestatementDateAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restatement Determination Date:</link:label>
    <link:label id="lab_ecd_RestatementDateAxis_label_en-US" xlink:label="lab_ecd_RestatementDateAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restatement Determination Date [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RestatementDateAxis" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_RestatementDateAxis"/>
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    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationBelowMarketLeaseNet_7a7ad444-7726-4842-ba05-4977e3fdcdb4_terseLabel_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationBelowMarketLeaseNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Below-market lease, net</link:label>
    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationBelowMarketLeaseNet_label_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationBelowMarketLeaseNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment Summarized Financial Information Below Market Lease Net</link:label>
    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationBelowMarketLeaseNet_documentation_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationBelowMarketLeaseNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of below market lease reported by an equity method investment of the entity.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_EquityMethodInvestmentSummarizedFinancialInformationBelowMarketLeaseNet" xlink:href="none-20251231.xsd#none_EquityMethodInvestmentSummarizedFinancialInformationBelowMarketLeaseNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_EquityMethodInvestmentSummarizedFinancialInformationBelowMarketLeaseNet" xlink:to="lab_none_EquityMethodInvestmentSummarizedFinancialInformationBelowMarketLeaseNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_83f309d5-44e4-4a60-a284-dc88475149c4_verboseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Stock compensation expense</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_none_PaymentForAcquisitionRealEstateHeldForInvestmentPerShare_b80a6338-d4d7-45ea-988a-c2d442a30852_terseLabel_en-US" xlink:label="lab_none_PaymentForAcquisitionRealEstateHeldForInvestmentPerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payment for property acquisition, shares, fair value (in dollars per share)</link:label>
    <link:label id="lab_none_PaymentForAcquisitionRealEstateHeldForInvestmentPerShare_label_en-US" xlink:label="lab_none_PaymentForAcquisitionRealEstateHeldForInvestmentPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payment for Acquisition, Real Estate, Held-for-Investment, Per Share</link:label>
    <link:label id="lab_none_PaymentForAcquisitionRealEstateHeldForInvestmentPerShare_documentation_en-US" xlink:label="lab_none_PaymentForAcquisitionRealEstateHeldForInvestmentPerShare" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payment for Acquisition, Real Estate, Held-for-Investment, Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_PaymentForAcquisitionRealEstateHeldForInvestmentPerShare" xlink:href="none-20251231.xsd#none_PaymentForAcquisitionRealEstateHeldForInvestmentPerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_PaymentForAcquisitionRealEstateHeldForInvestmentPerShare" xlink:to="lab_none_PaymentForAcquisitionRealEstateHeldForInvestmentPerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationTotalExpenses_88f6d447-ef77-4449-8a8a-a18317d1eea1_totalLabel_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationTotalExpenses" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total operating expenses</link:label>
    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationTotalExpenses_label_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationTotalExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Total Expenses</link:label>
    <link:label id="lab_none_EquityMethodInvestmentSummarizedFinancialInformationTotalExpenses_documentation_en-US" xlink:label="lab_none_EquityMethodInvestmentSummarizedFinancialInformationTotalExpenses" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of total expense reported by an equity method investment of the entity.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_EquityMethodInvestmentSummarizedFinancialInformationTotalExpenses" xlink:href="none-20251231.xsd#none_EquityMethodInvestmentSummarizedFinancialInformationTotalExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_EquityMethodInvestmentSummarizedFinancialInformationTotalExpenses" xlink:to="lab_none_EquityMethodInvestmentSummarizedFinancialInformationTotalExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrIndName_terseLabel_en-US" xlink:label="lab_ecd_TrdArrIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_TrdArrIndName_label_en-US" xlink:label="lab_ecd_TrdArrIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrIndName" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrIndName" xlink:to="lab_ecd_TrdArrIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_none_TampaFloridaIndustrialManufacturingPropertyAcquisitionMember_714f69fd-4577-40ff-8f1a-9ead3ea3df3a_terseLabel_en-US" xlink:label="lab_none_TampaFloridaIndustrialManufacturingPropertyAcquisitionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tampa Florida, Industrial Manufacturing Property Acquisition</link:label>
    <link:label id="lab_none_TampaFloridaIndustrialManufacturingPropertyAcquisitionMember_label_en-US" xlink:label="lab_none_TampaFloridaIndustrialManufacturingPropertyAcquisitionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tampa Florida, Industrial Manufacturing Property Acquisition [Member]</link:label>
    <link:label id="lab_none_TampaFloridaIndustrialManufacturingPropertyAcquisitionMember_documentation_en-US" xlink:label="lab_none_TampaFloridaIndustrialManufacturingPropertyAcquisitionMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tampa Florida, Industrial Manufacturing Property Acquisition</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_TampaFloridaIndustrialManufacturingPropertyAcquisitionMember" xlink:href="none-20251231.xsd#none_TampaFloridaIndustrialManufacturingPropertyAcquisitionMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_TampaFloridaIndustrialManufacturingPropertyAcquisitionMember" xlink:to="lab_none_TampaFloridaIndustrialManufacturingPropertyAcquisitionMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfShortTermDebtTable_f1553cf1-5c42-44ba-ba2b-b632f3cb257b_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfShortTermDebtTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Short-term Debt [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfShortTermDebtTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfShortTermDebtTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Short-Term Debt [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfShortTermDebtTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfShortTermDebtTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfShortTermDebtTable" xlink:to="lab_us-gaap_ScheduleOfShortTermDebtTable" xlink:type="arc" order="1"/>
    <link:label id="lab_none_CollectabilityOfTenantDeferredRentReceivablesPolicyTextBlock_efe27231-1525-423e-bc10-808cf1bf588a_terseLabel_en-US" xlink:label="lab_none_CollectabilityOfTenantDeferredRentReceivablesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collectability of Tenant Deferred Rent Receivables</link:label>
    <link:label id="lab_none_CollectabilityOfTenantDeferredRentReceivablesPolicyTextBlock_label_en-US" xlink:label="lab_none_CollectabilityOfTenantDeferredRentReceivablesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collectability of Tenant Deferred Rent Receivables [Policy Text Block]</link:label>
    <link:label id="lab_none_CollectabilityOfTenantDeferredRentReceivablesPolicyTextBlock_documentation_en-US" xlink:label="lab_none_CollectabilityOfTenantDeferredRentReceivablesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Collectability of Tenant Deferred Rent Receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_CollectabilityOfTenantDeferredRentReceivablesPolicyTextBlock" xlink:href="none-20251231.xsd#none_CollectabilityOfTenantDeferredRentReceivablesPolicyTextBlock"/>
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    <link:label id="lab_none_LindsayOhioPropertiesMember_21c01f08-5880-4a59-9ea6-bfcb53ff6b3f_terseLabel_en-US" xlink:label="lab_none_LindsayOhioPropertiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lindsay Ohio Properties</link:label>
    <link:label id="lab_none_LindsayOhioPropertiesMember_label_en-US" xlink:label="lab_none_LindsayOhioPropertiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lindsay Ohio Properties [Member]</link:label>
    <link:label id="lab_none_LindsayOhioPropertiesMember_documentation_en-US" xlink:label="lab_none_LindsayOhioPropertiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lindsay Ohio Properties</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_LindsayOhioPropertiesMember" xlink:href="none-20251231.xsd#none_LindsayOhioPropertiesMember"/>
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    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_4f999d13-dab1-4008-b358-17cb8f187e34_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage notes payable, face value</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Face Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentFaceAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentFaceAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentFaceAmount" xlink:to="lab_us-gaap_DebtInstrumentFaceAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Comprehensive Income [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:to="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_none_TenantRentAndBilledReimbursements_10b15008-e29f-4e6e-8e27-0f1d9d26b4c7_terseLabel_en-US" xlink:label="lab_none_TenantRentAndBilledReimbursements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenant rent and reimbursements</link:label>
    <link:label id="lab_none_TenantRentAndBilledReimbursements_label_en-US" xlink:label="lab_none_TenantRentAndBilledReimbursements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tenant Rent And Billed Reimbursements</link:label>
    <link:label id="lab_none_TenantRentAndBilledReimbursements_documentation_en-US" xlink:label="lab_none_TenantRentAndBilledReimbursements" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of tenant rent receivable.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_TenantRentAndBilledReimbursements" xlink:href="none-20251231.xsd#none_TenantRentAndBilledReimbursements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_TenantRentAndBilledReimbursements" xlink:to="lab_none_TenantRentAndBilledReimbursements" xlink:type="arc" order="1"/>
    <link:label id="lab_none_LabcorpMember_fc307c7d-02e6-431b-8463-87709307c90a_terseLabel_en-US" xlink:label="lab_none_LabcorpMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Labcorp</link:label>
    <link:label id="lab_none_LabcorpMember_label_en-US" xlink:label="lab_none_LabcorpMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Labcorp [Member]</link:label>
    <link:label id="lab_none_LabcorpMember_documentation_en-US" xlink:label="lab_none_LabcorpMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Labcorp</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_LabcorpMember" xlink:href="none-20251231.xsd#none_LabcorpMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_LabcorpMember" xlink:to="lab_none_LabcorpMember" xlink:type="arc" order="1"/>
    <link:label id="lab_none_NumberOfRealEstatePropertiesHeldForSale_e97de1d2-bace-41f2-bf98-e475faa29d2b_terseLabel_en-US" xlink:label="lab_none_NumberOfRealEstatePropertiesHeldForSale" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of real estate properties, held-for-sale</link:label>
    <link:label id="lab_none_NumberOfRealEstatePropertiesHeldForSale_label_en-US" xlink:label="lab_none_NumberOfRealEstatePropertiesHeldForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Real Estate Properties, Held-For-Sale</link:label>
    <link:label id="lab_none_NumberOfRealEstatePropertiesHeldForSale_documentation_en-US" xlink:label="lab_none_NumberOfRealEstatePropertiesHeldForSale" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Real Estate Properties, Held-For-Sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_NumberOfRealEstatePropertiesHeldForSale" xlink:href="none-20251231.xsd#none_NumberOfRealEstatePropertiesHeldForSale"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_NumberOfRealEstatePropertiesHeldForSale" xlink:to="lab_none_NumberOfRealEstatePropertiesHeldForSale" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable_39bf859a-a040-40fe-b71f-bb9efcdfe01b_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contribution of class M OP units and class P OP units</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Consideration Transferred, Equity Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable" xlink:to="lab_us-gaap_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockMember_3cfce997-eee4-4a9a-8902-f17259a9196d_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred Stock</link:label>
    <link:label id="lab_us-gaap_PreferredStockMember_label_en-US" xlink:label="lab_us-gaap_PreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockMember" xlink:to="lab_us-gaap_PreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscIndName_terseLabel_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscIndName_label_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardsCloseToMnpiDiscIndName" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardsCloseToMnpiDiscIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardsCloseToMnpiDiscIndName" xlink:to="lab_ecd_AwardsCloseToMnpiDiscIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_none_ArrowTruLineMember_7d5727cd-3c67-4839-addc-a88d45abf498_terseLabel_en-US" xlink:label="lab_none_ArrowTruLineMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Arrow Tru-Line</link:label>
    <link:label id="lab_none_ArrowTruLineMember_label_en-US" xlink:label="lab_none_ArrowTruLineMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Arrow Tru-Line [Member]</link:label>
    <link:label id="lab_none_ArrowTruLineMember_documentation_en-US" xlink:label="lab_none_ArrowTruLineMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Arrow Tru-Line</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_ArrowTruLineMember" xlink:href="none-20251231.xsd#none_ArrowTruLineMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_ArrowTruLineMember" xlink:to="lab_none_ArrowTruLineMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AggtErrCompNotYetDeterminedTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Erroneous Compensation Not Yet Determined</link:label>
    <link:label id="lab_ecd_AggtErrCompNotYetDeterminedTextBlock_label_en-US" xlink:label="lab_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Erroneous Compensation Not Yet Determined [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AggtErrCompNotYetDeterminedTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:to="lab_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_IcfrAuditorAttestationFlag_019c324a-3764-7848-af9b-03e187e7935a_terseLabel_en-US" xlink:label="lab_dei_IcfrAuditorAttestationFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">ICFR Auditor Attestation Flag</link:label>
    <link:label id="lab_dei_IcfrAuditorAttestationFlag_label_en-US" xlink:label="lab_dei_IcfrAuditorAttestationFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ICFR Auditor Attestation Flag</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_IcfrAuditorAttestationFlag" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_IcfrAuditorAttestationFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_IcfrAuditorAttestationFlag" xlink:to="lab_dei_IcfrAuditorAttestationFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities_ae789177-9c6b-4976-9f0e-0e51ca883897_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exchange of Class C OP Units to common stock</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Value, Conversion of Convertible Securities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_eeddc310-a616-40b2-a1b2-7225e134f163_terseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">OP Units compensation expense</link:label>
    <link:label id="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_label_en-US" xlink:label="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">APIC, Share-Based Payment Arrangement, Increase for Cost Recognition</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:to="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:type="arc" order="1"/>
    <link:label id="lab_none_GainLossOnRepurchasesOfPreferredStock_a7c79cc4-f2f2-435d-ad6d-f04859eda8c6_terseLabel_en-US" xlink:label="lab_none_GainLossOnRepurchasesOfPreferredStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loss on repurchases of preferred stock</link:label>
    <link:label id="lab_none_GainLossOnRepurchasesOfPreferredStock_label_en-US" xlink:label="lab_none_GainLossOnRepurchasesOfPreferredStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) On Repurchases Of Preferred Stock</link:label>
    <link:label id="lab_none_GainLossOnRepurchasesOfPreferredStock_documentation_en-US" xlink:label="lab_none_GainLossOnRepurchasesOfPreferredStock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gain (Loss) On Repurchases Of Preferred Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_GainLossOnRepurchasesOfPreferredStock" xlink:href="none-20251231.xsd#none_GainLossOnRepurchasesOfPreferredStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_GainLossOnRepurchasesOfPreferredStock" xlink:to="lab_none_GainLossOnRepurchasesOfPreferredStock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsTax_41d68c41-110b-4d32-805e-b155b4f550e1_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive income (loss) before reclassifications, tax</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss) before Reclassifications, Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsTax" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossBeforeReclassificationsTax" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_AuditorFirmId_019cd3cc-642c-70af-a623-14c54fa793d8_terseLabel_en-US" xlink:label="lab_dei_AuditorFirmId" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Auditor Firm ID</link:label>
    <link:label id="lab_dei_AuditorFirmId_label_en-US" xlink:label="lab_dei_AuditorFirmId" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Auditor Firm ID</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_AuditorFirmId" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_AuditorFirmId"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AuditorFirmId" xlink:to="lab_dei_AuditorFirmId" xlink:type="arc" order="1"/>
    <link:label id="lab_none_AccountingPoliciesTable_2d2aa153-9a92-4938-a937-43d5e2801ce3_terseLabel_en-US" xlink:label="lab_none_AccountingPoliciesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounting Policies [Table]</link:label>
    <link:label id="lab_none_AccountingPoliciesTable_label_en-US" xlink:label="lab_none_AccountingPoliciesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Policies [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_AccountingPoliciesTable" xlink:href="none-20251231.xsd#none_AccountingPoliciesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_AccountingPoliciesTable" xlink:to="lab_none_AccountingPoliciesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_none_TaylorFreshFarmPropertyMember_a35af597-2197-406e-a2e7-b2bbb9f9fe6b_terseLabel_en-US" xlink:label="lab_none_TaylorFreshFarmPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Taylor Fresh Foods property</link:label>
    <link:label id="lab_none_TaylorFreshFarmPropertyMember_label_en-US" xlink:label="lab_none_TaylorFreshFarmPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Taylor fresh farm property [Member]</link:label>
    <link:label id="lab_none_TaylorFreshFarmPropertyMember_documentation_en-US" xlink:label="lab_none_TaylorFreshFarmPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Taylor fresh farm property [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_TaylorFreshFarmPropertyMember" xlink:href="none-20251231.xsd#none_TaylorFreshFarmPropertyMember"/>
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    <link:label id="lab_none_CommonStockCapitalSharesReservedForFutureIssuanceAmount_13c2935b-8fa1-47ef-927d-00e2dd55164c_terseLabel_en-US" xlink:label="lab_none_CommonStockCapitalSharesReservedForFutureIssuanceAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future issuance of shares of Class C Common Stock (in shares)</link:label>
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    <link:label id="lab_none_CommonStockCapitalSharesReservedForFutureIssuanceAmount_documentation_en-US" xlink:label="lab_none_CommonStockCapitalSharesReservedForFutureIssuanceAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common Stock, Capital Shares Reserved for Future Issuance, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_CommonStockCapitalSharesReservedForFutureIssuanceAmount" xlink:href="none-20251231.xsd#none_CommonStockCapitalSharesReservedForFutureIssuanceAmount"/>
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    <link:label id="lab_us-gaap_EarningsPerSharePolicyTextBlock_b073cca6-811a-45c3-a3ed-ffba1e27a263_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerSharePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Per Share Data</link:label>
    <link:label id="lab_us-gaap_EarningsPerSharePolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_EarningsPerSharePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerSharePolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EarningsPerSharePolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="lab_us-gaap_EarningsPerSharePolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy_8636e3c3-26a6-41d7-9d09-c57df8fb3493_terseLabel_en-US" xlink:label="lab_us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest in Consolidated Entities</link:label>
    <link:label id="lab_us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy_label_en-US" xlink:label="lab_us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy" xlink:to="lab_us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockValue_089b4cac-0b5c-4d5f-a1f0-8a6336b5cfaa_verboseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">7.375% Series A cumulative redeemable perpetual preferred stock, $0.001 par value; $25.00 per share liquidation preference; 2,000,000 shares authorized; 1,725,000 outstanding as of June&#160;30, 2025 and 2,000,000 outstanding as of December&#160;31, 2024</link:label>
    <link:label id="lab_us-gaap_PreferredStockValue_label_en-US" xlink:label="lab_us-gaap_PreferredStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Value, Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockValue" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PreferredStockValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockValue" xlink:to="lab_us-gaap_PreferredStockValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestPayableCurrentAndNoncurrent_1fd908c9-f4e2-475d-b978-8df3a7ba2b90_verboseLabel_en-US" xlink:label="lab_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Accrued interest payable</link:label>
    <link:label id="lab_us-gaap_InterestPayableCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestPayableCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:to="lab_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_none_NumberOfDaysAfterChangeOfControl_897e9134-84a6-4d35-9d79-65f5e52e70d9_terseLabel_en-US" xlink:label="lab_none_NumberOfDaysAfterChangeOfControl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of days after change of control</link:label>
    <link:label id="lab_none_NumberOfDaysAfterChangeOfControl_label_en-US" xlink:label="lab_none_NumberOfDaysAfterChangeOfControl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Days After Change Of Control</link:label>
    <link:label id="lab_none_NumberOfDaysAfterChangeOfControl_documentation_en-US" xlink:label="lab_none_NumberOfDaysAfterChangeOfControl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Days After Change Of Control</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_NumberOfDaysAfterChangeOfControl" xlink:href="none-20251231.xsd#none_NumberOfDaysAfterChangeOfControl"/>
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    <link:label id="lab_ecd_AllExecutiveCategoriesMember_terseLabel_en-US" xlink:label="lab_ecd_AllExecutiveCategoriesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Executive Categories</link:label>
    <link:label id="lab_ecd_AllExecutiveCategoriesMember_label_en-US" xlink:label="lab_ecd_AllExecutiveCategoriesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Executive Categories [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllExecutiveCategoriesMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AllExecutiveCategoriesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AllExecutiveCategoriesMember" xlink:to="lab_ecd_AllExecutiveCategoriesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1_5ccfda8d-a55d-4a41-a1f9-a0ea6af830f4_terseLabel_en-US" xlink:label="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock compensation expense</link:label>
    <link:label id="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1_label_en-US" xlink:label="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Expensed and Capitalized, Amount</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1" xlink:to="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockValue_4d2d0ed3-8e21-4031-a285-3e275a0de421_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class C common stock, $0.001 par value, 300,000,000 shares authorized; 10,614,130 shares issued and 10,146,811 shares outstanding as of June&#160;30, 2025, and 10,404,211 shares issued and 9,936,892 outstanding as of December&#160;31, 2024</link:label>
    <link:label id="lab_us-gaap_CommonStockValue_label_en-US" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Value, Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockValue" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonStockValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockValue" xlink:to="lab_us-gaap_CommonStockValue" xlink:type="arc" order="1"/>
    <link:label id="lab_none_SiteImprovementMember_21039f71-53e7-4af1-a222-7db2c6ecf47c_terseLabel_en-US" xlink:label="lab_none_SiteImprovementMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Site improvements</link:label>
    <link:label id="lab_none_SiteImprovementMember_label_en-US" xlink:label="lab_none_SiteImprovementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Site Improvement [Member]</link:label>
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    <link:label id="lab_us-gaap_CommitmentsAndContingencies_a2db453e-6772-4c29-823f-1848969c196b_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and contingencies (Note 10)</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingencies" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommitmentsAndContingencies"/>
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    <link:label id="lab_us-gaap_BusinessAcquisitionAxis_7f91c731-6e2e-4ea3-9ad6-27b4522a284a_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Combination [Axis]</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionAxis_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessAcquisitionAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BusinessAcquisitionAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionAxis" xlink:to="lab_us-gaap_BusinessAcquisitionAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_e19bba6e-9167-458d-85d8-66871cb25187_totalLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Comprehensive (loss) income</link:label>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_none_BusinessAndOrganizationTable_ef30fe5f-d5e0-419b-94ec-8a4593f1210b_terseLabel_en-US" xlink:label="lab_none_BusinessAndOrganizationTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business And Organization [Table]</link:label>
    <link:label id="lab_none_BusinessAndOrganizationTable_label_en-US" xlink:label="lab_none_BusinessAndOrganizationTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business And Organization [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_BusinessAndOrganizationTable" xlink:href="none-20251231.xsd#none_BusinessAndOrganizationTable"/>
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    <link:label id="lab_us-gaap_NoncontrollingInterestMember_f103a052-df0e-45cf-8bdb-6940155d082c_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest in the Operating Partnership</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoncontrollingInterestMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NoncontrollingInterestMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncontrollingInterestMember" xlink:to="lab_us-gaap_NoncontrollingInterestMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_df180a18-06f8-4470-ad79-b2425a384c42_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership (as a percent)</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Ownership Percentage</link:label>
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    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter_019b9e83-5b70-7c4d-9cce-1986ae850f97_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, after Year Five</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedThereafter"/>
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    <link:label id="lab_none_SupplementalDetailDisclosuresForConsolidatedBalanceSheetTableTextBlock_616194f1-841b-4b41-8e6a-bb44801e52b1_terseLabel_en-US" xlink:label="lab_none_SupplementalDetailDisclosuresForConsolidatedBalanceSheetTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Supplemental Detail Disclosures for Consolidate Balance Sheet</link:label>
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    <link:label id="lab_us-gaap_ShortTermDebtLineItems_5e5f811f-955f-4f99-899f-223cdf0785a5_terseLabel_en-US" xlink:label="lab_us-gaap_ShortTermDebtLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Short-term Debt [Line Items]</link:label>
    <link:label id="lab_us-gaap_ShortTermDebtLineItems_label_en-US" xlink:label="lab_us-gaap_ShortTermDebtLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Short-Term Debt [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShortTermDebtLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShortTermDebtLineItems"/>
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    <link:label id="lab_none_SJElectroSystemsDetroitLakesMNMember_c7765e5d-8359-4fde-a438-b2a1fdcfa89a_terseLabel_en-US" xlink:label="lab_none_SJElectroSystemsDetroitLakesMNMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">S J Electro Systems Detroit Lakes, MN</link:label>
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    <link:label id="lab_us-gaap_EarningsPerShareDilutedAbstract_c010a52d-6110-447b-9f4f-a85a4b00fc0f_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareDilutedAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings (loss) per share attributable to common stockholders and Class C OP Units:</link:label>
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    <link:label id="lab_us-gaap_SECScheduleIIIRealEstateInvestmentPropertyNet_5e227cbb-80fa-457b-9510-e00fc4819e30_totalLabel_en-US" xlink:label="lab_us-gaap_SECScheduleIIIRealEstateInvestmentPropertyNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net</link:label>
    <link:label id="lab_us-gaap_SECScheduleIIIRealEstateInvestmentPropertyNet_label_en-US" xlink:label="lab_us-gaap_SECScheduleIIIRealEstateInvestmentPropertyNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Investment Property, Net</link:label>
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    <link:label id="lab_us-gaap_OtherAssetImpairmentCharges_label_en-US" xlink:label="lab_us-gaap_OtherAssetImpairmentCharges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Asset Impairment Charges</link:label>
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    <link:label id="lab_us-gaap_DisposalGroupClassificationAxis_label_en-US" xlink:label="lab_us-gaap_DisposalGroupClassificationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal Group Classification [Axis]</link:label>
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    <link:label id="lab_us-gaap_ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic_f3df2d99-9af0-452e-add9-e8014b59ae7f_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Class X OP Unit distributions</link:label>
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    <link:label id="lab_us-gaap_ConcentrationRiskBenchmarkDomain_aa929842-4dca-4bac-a5cf-ae97f712ca88_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk Benchmark [Domain]</link:label>
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    <link:label id="lab_dei_Security12bTitle_652af70f-3c0d-4670-a876-082593b85229_terseLabel_en-US" xlink:label="lab_dei_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Title of 12(b) Security</link:label>
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    <link:label id="lab_us-gaap_AccountsPayableCurrentAndNoncurrent_20940ab3-c162-4c0a-9580-a35f2cb88ae6_verboseLabel_en-US" xlink:label="lab_us-gaap_AccountsPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Accounts payable</link:label>
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    <link:label id="lab_us-gaap_MinorityInterestOwnershipPercentageByParent_019c36f5-8cf0-7677-a0fe-cf423068cb31_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsidiary, ownership percentage, parent (in percent)</link:label>
    <link:label id="lab_us-gaap_MinorityInterestOwnershipPercentageByParent_label_en-US" xlink:label="lab_us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiary, Ownership Percentage, Parent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MinorityInterestOwnershipPercentageByParent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:to="lab_us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:type="arc" order="1"/>
    <link:label id="lab_none_DisposalGroupIncludingDiscontinuedOperationConsiderationRepaymentOfMortgage_019cd653-f177-7529-8d14-69ffe71c2c5f_terseLabel_en-US" xlink:label="lab_none_DisposalGroupIncludingDiscontinuedOperationConsiderationRepaymentOfMortgage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage repayment</link:label>
    <link:label id="lab_none_DisposalGroupIncludingDiscontinuedOperationConsiderationRepaymentOfMortgage_label_en-US" xlink:label="lab_none_DisposalGroupIncludingDiscontinuedOperationConsiderationRepaymentOfMortgage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal Group, Including Discontinued Operation, Consideration, Repayment Of Mortgage</link:label>
    <link:label id="lab_none_DisposalGroupIncludingDiscontinuedOperationConsiderationRepaymentOfMortgage_documentation_en-US" xlink:label="lab_none_DisposalGroupIncludingDiscontinuedOperationConsiderationRepaymentOfMortgage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disposal Group, Including Discontinued Operation, Consideration, Repayment Of Mortgage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_DisposalGroupIncludingDiscontinuedOperationConsiderationRepaymentOfMortgage" xlink:href="none-20251231.xsd#none_DisposalGroupIncludingDiscontinuedOperationConsiderationRepaymentOfMortgage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_DisposalGroupIncludingDiscontinuedOperationConsiderationRepaymentOfMortgage" xlink:to="lab_none_DisposalGroupIncludingDiscontinuedOperationConsiderationRepaymentOfMortgage" xlink:type="arc" order="1"/>
    <link:label id="lab_none_TenantOriginationAndAbsorptionCostsMember_9a1e08c3-3d84-4631-b2bf-e52188fb62d7_terseLabel_en-US" xlink:label="lab_none_TenantOriginationAndAbsorptionCostsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenant Origination and Absorption Costs</link:label>
    <link:label id="lab_none_TenantOriginationAndAbsorptionCostsMember_label_en-US" xlink:label="lab_none_TenantOriginationAndAbsorptionCostsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tenant Origination and Absorption Costs [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_TenantOriginationAndAbsorptionCostsMember" xlink:href="none-20251231.xsd#none_TenantOriginationAndAbsorptionCostsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_TenantOriginationAndAbsorptionCostsMember" xlink:to="lab_none_TenantOriginationAndAbsorptionCostsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_none_DisposalGroupIncludingDiscontinuedOperationTenantImprovements_14e4a621-1b47-42f9-bba7-1f5e7bc32d52_terseLabel_en-US" xlink:label="lab_none_DisposalGroupIncludingDiscontinuedOperationTenantImprovements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenant origination and absorption costs</link:label>
    <link:label id="lab_none_DisposalGroupIncludingDiscontinuedOperationTenantImprovements_label_en-US" xlink:label="lab_none_DisposalGroupIncludingDiscontinuedOperationTenantImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal Group, Including Discontinued Operation, Tenant Improvements</link:label>
    <link:label id="lab_none_DisposalGroupIncludingDiscontinuedOperationTenantImprovements_documentation_en-US" xlink:label="lab_none_DisposalGroupIncludingDiscontinuedOperationTenantImprovements" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disposal Group, Including Discontinued Operation, Tenant Improvements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_DisposalGroupIncludingDiscontinuedOperationTenantImprovements" xlink:href="none-20251231.xsd#none_DisposalGroupIncludingDiscontinuedOperationTenantImprovements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_DisposalGroupIncludingDiscontinuedOperationTenantImprovements" xlink:to="lab_none_DisposalGroupIncludingDiscontinuedOperationTenantImprovements" xlink:type="arc" order="1"/>
    <link:label id="lab_none_BoardOfDirectorsCompensationMember_9c6fbe29-1692-4781-ad45-8017690be359_terseLabel_en-US" xlink:label="lab_none_BoardOfDirectorsCompensationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Board of Directors Compensation</link:label>
    <link:label id="lab_none_BoardOfDirectorsCompensationMember_label_en-US" xlink:label="lab_none_BoardOfDirectorsCompensationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Board of Directors Compensation [Member]</link:label>
    <link:label id="lab_none_BoardOfDirectorsCompensationMember_documentation_en-US" xlink:label="lab_none_BoardOfDirectorsCompensationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Board of Directors Compensation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_BoardOfDirectorsCompensationMember" xlink:href="none-20251231.xsd#none_BoardOfDirectorsCompensationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_BoardOfDirectorsCompensationMember" xlink:to="lab_none_BoardOfDirectorsCompensationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgDiscLineItems_label_en-US" xlink:label="lab_ecd_AwardTmgDiscLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing Disclosures [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgDiscLineItems" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgDiscLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgDiscLineItems" xlink:to="lab_ecd_AwardTmgDiscLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_none_LindsayFranklintonMember_d079232f-ddae-4010-88df-601c99dc6535_terseLabel_en-US" xlink:label="lab_none_LindsayFranklintonMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lindsay, Franklinton</link:label>
    <link:label id="lab_none_LindsayFranklintonMember_label_en-US" xlink:label="lab_none_LindsayFranklintonMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lindsay, Franklinton [Member]</link:label>
    <link:label id="lab_none_LindsayFranklintonMember_documentation_en-US" xlink:label="lab_none_LindsayFranklintonMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lindsay, Franklinton</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_LindsayFranklintonMember" xlink:href="none-20251231.xsd#none_LindsayFranklintonMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_LindsayFranklintonMember" xlink:to="lab_none_LindsayFranklintonMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_d887bc68-5e6f-44f0-9a38-a7ed1287c8a5_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt instrument, unused borrowing capacity, fee</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Unused Borrowing Capacity, Fee</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentUnusedBorrowingCapacityFee"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee" xlink:to="lab_us-gaap_DebtInstrumentUnusedBorrowingCapacityFee" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LesseeOperatingLeaseRenewalTerm_21df7658-10f1-40cf-8708-1e5f02aedc0f_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseRenewalTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Renewal term</link:label>
    <link:label id="lab_us-gaap_LesseeOperatingLeaseRenewalTerm_label_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseRenewalTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessee, Operating Lease, Renewal Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseRenewalTerm" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LesseeOperatingLeaseRenewalTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LesseeOperatingLeaseRenewalTerm" xlink:to="lab_us-gaap_LesseeOperatingLeaseRenewalTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAtCostAbstract_ba75fd9c-2752-4ad3-8ffe-e1539f935c95_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAtCostAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate investments:</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAtCostAbstract_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAtCostAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, at Cost [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyAtCostAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateInvestmentPropertyAtCostAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyAtCostAbstract" xlink:to="lab_us-gaap_RealEstateInvestmentPropertyAtCostAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLoss_6ad4f82c-9a29-4d21-8041-f49340297089_totalLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income attributable to Modiv Industrial, Inc.</link:label>
    <link:label id="lab_us-gaap_NetIncomeLoss_label_en-US" xlink:label="lab_us-gaap_NetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Attributable to Parent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NetIncomeLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLoss" xlink:to="lab_us-gaap_NetIncomeLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventTable_99568b47-53d7-4ab0-a3a5-c5813990b2c3_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event [Table]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTable_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SubsequentEventTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTable" xlink:to="lab_us-gaap_SubsequentEventTable" xlink:type="arc" order="1"/>
    <link:label id="lab_none_NumberOfDividendsRequiredToBeInArrearsToEnableVotingRights_d91881a9-cf7d-4c3a-9a16-95f39549df34_terseLabel_en-US" xlink:label="lab_none_NumberOfDividendsRequiredToBeInArrearsToEnableVotingRights" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of dividends required to be in arrears to enable voting rights</link:label>
    <link:label id="lab_none_NumberOfDividendsRequiredToBeInArrearsToEnableVotingRights_label_en-US" xlink:label="lab_none_NumberOfDividendsRequiredToBeInArrearsToEnableVotingRights" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Dividends Required To Be In Arrears To Enable Voting Rights</link:label>
    <link:label id="lab_none_NumberOfDividendsRequiredToBeInArrearsToEnableVotingRights_documentation_en-US" xlink:label="lab_none_NumberOfDividendsRequiredToBeInArrearsToEnableVotingRights" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Dividends Required To Be In Arrears To Enable Voting Rights</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_NumberOfDividendsRequiredToBeInArrearsToEnableVotingRights" xlink:href="none-20251231.xsd#none_NumberOfDividendsRequiredToBeInArrearsToEnableVotingRights"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_NumberOfDividendsRequiredToBeInArrearsToEnableVotingRights" xlink:to="lab_none_NumberOfDividendsRequiredToBeInArrearsToEnableVotingRights" xlink:type="arc" order="1"/>
    <link:label id="lab_none_DebtInstrumentCovenantLeverageRatioFixedPayRateIncreasePercentage_91454a1c-7360-4cec-b6c0-31e0a0be31d4_terseLabel_en-US" xlink:label="lab_none_DebtInstrumentCovenantLeverageRatioFixedPayRateIncreasePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leverage ratio, fixed pay rate increase (as a percent)</link:label>
    <link:label id="lab_none_DebtInstrumentCovenantLeverageRatioFixedPayRateIncreasePercentage_label_en-US" xlink:label="lab_none_DebtInstrumentCovenantLeverageRatioFixedPayRateIncreasePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Leverage Ratio, Fixed Pay Rate Increase Percentage</link:label>
    <link:label id="lab_none_DebtInstrumentCovenantLeverageRatioFixedPayRateIncreasePercentage_documentation_en-US" xlink:label="lab_none_DebtInstrumentCovenantLeverageRatioFixedPayRateIncreasePercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Leverage Ratio, Fixed Pay Rate Increase Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_DebtInstrumentCovenantLeverageRatioFixedPayRateIncreasePercentage" xlink:href="none-20251231.xsd#none_DebtInstrumentCovenantLeverageRatioFixedPayRateIncreasePercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_DebtInstrumentCovenantLeverageRatioFixedPayRateIncreasePercentage" xlink:to="lab_none_DebtInstrumentCovenantLeverageRatioFixedPayRateIncreasePercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeDomain_ba89f09c-1e6b-409f-893c-b111e6a4b7ab_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Nonconsolidated Investee [Domain]</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeDomain_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Nonconsolidated Investee [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeDomain" xlink:to="lab_us-gaap_EquityMethodInvestmentNonconsolidatedInvesteeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyNet_819544c2-cf23-4243-ad34-5e36091050cf_totalLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total real estate investments, net, excluding unconsolidated investment in real estate property and real estate investments held for sale, net</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyNet_7aa46328-53c2-490f-a9ea-93c9b4fba3d6_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Carrying Value</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyNet_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyNet" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateInvestmentPropertyNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyNet" xlink:to="lab_us-gaap_RealEstateInvestmentPropertyNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateGrossAtCarryingValue_591c3292-9913-4a36-b848-bb6232f316c9_totalLabel_en-US" xlink:label="lab_us-gaap_RealEstateGrossAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_RealEstateGrossAtCarryingValue_ffe8d29a-a586-485d-8cc0-803bcde902da_periodStartLabel_en-US" xlink:label="lab_us-gaap_RealEstateGrossAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance at beginning of year</link:label>
    <link:label id="lab_us-gaap_RealEstateGrossAtCarryingValue_b2cb8f0f-7b9d-480e-8da9-d5bb62a691e8_periodEndLabel_en-US" xlink:label="lab_us-gaap_RealEstateGrossAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance at end of year</link:label>
    <link:label id="lab_us-gaap_RealEstateGrossAtCarryingValue_label_en-US" xlink:label="lab_us-gaap_RealEstateGrossAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateGrossAtCarryingValue" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateGrossAtCarryingValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateGrossAtCarryingValue" xlink:to="lab_us-gaap_RealEstateGrossAtCarryingValue" xlink:type="arc" order="1"/>
    <link:label id="lab_none_ReinvestedDistributionToInvestmentInRichUnclesREITI_6e71a73f-7b04-4f79-88e2-484837f76900_verboseLabel_en-US" xlink:label="lab_none_ReinvestedDistributionToInvestmentInRichUnclesREITI" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Reinvested distributions from common stockholders</link:label>
    <link:label id="lab_none_ReinvestedDistributionToInvestmentInRichUnclesREITI_label_en-US" xlink:label="lab_none_ReinvestedDistributionToInvestmentInRichUnclesREITI" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reinvested Distribution To Investment In Rich Uncles REIT I</link:label>
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    <link:label id="lab_us-gaap_PreferredStockSharesAuthorized_9f8eee62-5501-47ba-b5a1-24a9f37901d8_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, shares authorized (in shares)</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesAuthorized_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Shares Authorized</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockSharesAuthorized" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PreferredStockSharesAuthorized"/>
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    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_e2c9ae02-4cca-45ff-9418-16ab29afef95_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Repurchases of common stock and Class C OP Units</link:label>
    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_label_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Repurchase of Common Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock"/>
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    <link:label id="lab_ecd_TrdArrAdoptionDate_terseLabel_en-US" xlink:label="lab_ecd_TrdArrAdoptionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adoption Date</link:label>
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    <link:label id="lab_none_CreditAgreementMember_c3667f75-102b-44fa-bf47-f72d3035e675_terseLabel_en-US" xlink:label="lab_none_CreditAgreementMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit Agreement</link:label>
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    <link:label id="lab_none_CreditAgreementMember_documentation_en-US" xlink:label="lab_none_CreditAgreementMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Credit Agreement</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_CreditAgreementMember" xlink:href="none-20251231.xsd#none_CreditAgreementMember"/>
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    <link:label id="lab_none_TrueInterestCostManagementFeeMember_8578e090-c284-424f-ac8d-f0ff80c37e2c_terseLabel_en-US" xlink:label="lab_none_TrueInterestCostManagementFeeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management fee income from TIC Interest</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_none_TrueInterestCostManagementFeeMember" xlink:href="none-20251231.xsd#none_TrueInterestCostManagementFeeMember"/>
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    <link:label id="lab_us-gaap_LesseeOperatingLeaseTermOfContract_47aab1a3-74e6-407a-8961-b69749e5d6ea_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseTermOfContract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lessee contract term</link:label>
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    <link:label id="lab_us-gaap_RealEstateImprovements_1f5d3830-fd16-468a-b722-ff4832d80635_verboseLabel_en-US" xlink:label="lab_us-gaap_RealEstateImprovements" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Improvements to real estate</link:label>
    <link:label id="lab_us-gaap_RealEstateImprovements_label_en-US" xlink:label="lab_us-gaap_RealEstateImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Improvements</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateImprovements" xlink:to="lab_us-gaap_RealEstateImprovements" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingIncomeLoss_673c0fde-1278-4fe4-b54b-951532fd2738_totalLabel_en-US" xlink:label="lab_us-gaap_OperatingIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Operating income</link:label>
    <link:label id="lab_us-gaap_OperatingIncomeLoss_label_en-US" xlink:label="lab_us-gaap_OperatingIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Income (Loss)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingIncomeLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OperatingIncomeLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingIncomeLoss" xlink:to="lab_us-gaap_OperatingIncomeLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCreditMember_28f9dc34-84d4-4ec4-b8c0-97c07e24e5b7_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan</link:label>
    <link:label id="lab_us-gaap_LineOfCreditMember_5f369d2c-2fcb-473a-a6c1-238465f50293_verboseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Line of Credit</link:label>
    <link:label id="lab_us-gaap_LineOfCreditMember_label_en-US" xlink:label="lab_us-gaap_LineOfCreditMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LineOfCreditMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditMember" xlink:to="lab_us-gaap_LineOfCreditMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RedeemablePreferredStockMember_566d67ab-bc0d-461d-8d0e-bb49bb177f57_terseLabel_en-US" xlink:label="lab_us-gaap_RedeemablePreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series A Cumulative Redeemable Preferred Stock</link:label>
    <link:label id="lab_us-gaap_RedeemablePreferredStockMember_label_en-US" xlink:label="lab_us-gaap_RedeemablePreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Redeemable Preferred Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RedeemablePreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RedeemablePreferredStockMember"/>
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    <link:label id="lab_us-gaap_PaymentsToAcquireRealEstate_019d0c3a-9149-74ac-8e24-771b29c028a4_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireRealEstate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Selling costs</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireRealEstate_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Real Estate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireRealEstate" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsToAcquireRealEstate"/>
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    <link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_ef23a1d2-7ba0-4410-bba3-2ceee13827f8_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cumulative distributions and net losses</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings (Accumulated Deficit)</link:label>
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    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_d7799d80-451b-4845-b3f8-390a055abb39_terseLabel_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name of Property [Axis]</link:label>
    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_label_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Name of Property [Axis]</link:label>
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    <link:label id="lab_us-gaap_StatementClassOfStockAxis_88c8e25f-7c9d-4112-ac4b-c4b34d69594b_terseLabel_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</link:label>
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    <link:label id="lab_none_NorthropGrummanParcelMember_b649c862-7dc2-48e3-a748-0f9c4743aed9_terseLabel_en-US" xlink:label="lab_none_NorthropGrummanParcelMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Northrop Grumman Parcel</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_none_NorthropGrummanParcelMember" xlink:href="none-20251231.xsd#none_NorthropGrummanParcelMember"/>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNetAbstract_fa680d73-a1df-445b-8969-873dc6c0eecf_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNetAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Net [Abstract]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNetAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsNetAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNetAbstract" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsNetAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InvestmentIncomeDividend_aca4ebaf-0f8c-4bca-8512-8d359ce1d8df_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentIncomeDividend" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividend income</link:label>
    <link:label id="lab_us-gaap_InvestmentIncomeDividend_label_en-US" xlink:label="lab_us-gaap_InvestmentIncomeDividend" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Income, Dividend</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentIncomeDividend" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InvestmentIncomeDividend"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentIncomeDividend" xlink:to="lab_us-gaap_InvestmentIncomeDividend" xlink:type="arc" order="1"/>
    <link:label id="lab_none_ValtirCentervilleMember_b9b8ecf0-6a98-49e0-9684-3a07821a68d4_terseLabel_en-US" xlink:label="lab_none_ValtirCentervilleMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Valtir, Centerville</link:label>
    <link:label id="lab_none_ValtirCentervilleMember_label_en-US" xlink:label="lab_none_ValtirCentervilleMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Valtir, Centerville [Member]</link:label>
    <link:label id="lab_none_ValtirCentervilleMember_documentation_en-US" xlink:label="lab_none_ValtirCentervilleMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Valtir, Centerville</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_ValtirCentervilleMember" xlink:href="none-20251231.xsd#none_ValtirCentervilleMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_ValtirCentervilleMember" xlink:to="lab_none_ValtirCentervilleMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table</link:label>
    <link:label id="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember_label_en-US" xlink:label="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:to="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_none_CommonClassSMember_1edd4413-dfe0-4f69-843b-cc607b9c0415_terseLabel_en-US" xlink:label="lab_none_CommonClassSMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class S</link:label>
    <link:label id="lab_none_CommonClassSMember_label_en-US" xlink:label="lab_none_CommonClassSMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Class S [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_CommonClassSMember" xlink:href="none-20251231.xsd#none_CommonClassSMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_CommonClassSMember" xlink:to="lab_none_CommonClassSMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PayablesAndAccrualsAbstract_eccfc621-fc55-4f73-b901-58373fb73927_terseLabel_en-US" xlink:label="lab_us-gaap_PayablesAndAccrualsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payables and Accruals [Abstract]</link:label>
    <link:label id="lab_us-gaap_PayablesAndAccrualsAbstract_label_en-US" xlink:label="lab_us-gaap_PayablesAndAccrualsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payables and Accruals [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PayablesAndAccrualsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PayablesAndAccrualsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PayablesAndAccrualsAbstract" xlink:to="lab_us-gaap_PayablesAndAccrualsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementTable_a82f2965-eabb-4353-beee-b3edec621078_terseLabel_en-US" xlink:label="lab_us-gaap_StatementTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:label id="lab_us-gaap_StatementTable_label_en-US" xlink:label="lab_us-gaap_StatementTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementTable" xlink:to="lab_us-gaap_StatementTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_8f499aa5-ee08-446c-a665-54af82d3d4f0_verboseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Adjustments to reconcile net income to net cash provided by operating activities:</link:label>
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_0f88f891-9f22-411a-be8d-d4c5af012172_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash Flows from Financing Activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Financing Activity, Including Discontinued Operation [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccountsReceivableNetAbstract_fd9ea4f2-d3ad-45aa-bd2e-c649f7ca910e_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsReceivableNetAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenant Deferred Rent and Other Receivables</link:label>
    <link:label id="lab_us-gaap_AccountsReceivableNetAbstract_label_en-US" xlink:label="lab_us-gaap_AccountsReceivableNetAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Receivable, after Allowance for Credit Loss [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsReceivableNetAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccountsReceivableNetAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsReceivableNetAbstract" xlink:to="lab_us-gaap_AccountsReceivableNetAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseNetAbstract_b57db6b3-5d39-4d80-9e9d-0d786635efee_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNetAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Below-Market Lease Intangibles</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseNetAbstract_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNetAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Net [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseNetAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BelowMarketLeaseNetAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseNetAbstract" xlink:to="lab_us-gaap_BelowMarketLeaseNetAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorLeasesPolicyTextBlock_ae32da6f-5dff-4bd3-96bd-fe6a799cf653_terseLabel_en-US" xlink:label="lab_us-gaap_LessorLeasesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leasing Costs</link:label>
    <link:label id="lab_us-gaap_LessorLeasesPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_LessorLeasesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Leases [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorLeasesPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LessorLeasesPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorLeasesPolicyTextBlock" xlink:to="lab_us-gaap_LessorLeasesPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_none_ProspectusSupplementMember_9b43b2ea-072c-4043-884a-a2ee73711b52_terseLabel_en-US" xlink:label="lab_none_ProspectusSupplementMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prospectus Supplement</link:label>
    <link:label id="lab_none_ProspectusSupplementMember_label_en-US" xlink:label="lab_none_ProspectusSupplementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prospectus Supplement [Member]</link:label>
    <link:label id="lab_none_ProspectusSupplementMember_documentation_en-US" xlink:label="lab_none_ProspectusSupplementMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Prospectus Supplement</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_ProspectusSupplementMember" xlink:href="none-20251231.xsd#none_ProspectusSupplementMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_ProspectusSupplementMember" xlink:to="lab_none_ProspectusSupplementMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AllAdjToCompMember_terseLabel_en-US" xlink:label="lab_ecd_AllAdjToCompMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Adjustments to Compensation</link:label>
    <link:label id="lab_ecd_AllAdjToCompMember_label_en-US" xlink:label="lab_ecd_AllAdjToCompMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Adjustments to Compensation [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllAdjToCompMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AllAdjToCompMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AllAdjToCompMember" xlink:to="lab_ecd_AllAdjToCompMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_AmendmentFlag_4c098f73-20ed-40f1-85cd-f1b00ca78806_terseLabel_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:label id="lab_dei_AmendmentFlag_label_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_AmendmentFlag" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_AmendmentFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AmendmentFlag" xlink:to="lab_dei_AmendmentFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SaleOfStockPricePerShare_7599e5f3-2f9c-4b57-a9a6-49683cb195df_terseLabel_en-US" xlink:label="lab_us-gaap_SaleOfStockPricePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of stock, price per share (in usd per share)</link:label>
    <link:label id="lab_us-gaap_SaleOfStockPricePerShare_label_en-US" xlink:label="lab_us-gaap_SaleOfStockPricePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale of Stock, Price Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SaleOfStockPricePerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SaleOfStockPricePerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SaleOfStockPricePerShare" xlink:to="lab_us-gaap_SaleOfStockPricePerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_none_DisposalGroupIncludingDiscontinuedOperationConsiderationExtensionFees_019cd65c-d514-7a8f-8910-1ba75a13ed32_terseLabel_en-US" xlink:label="lab_none_DisposalGroupIncludingDiscontinuedOperationConsiderationExtensionFees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extension fees</link:label>
    <link:label id="lab_none_DisposalGroupIncludingDiscontinuedOperationConsiderationExtensionFees_label_en-US" xlink:label="lab_none_DisposalGroupIncludingDiscontinuedOperationConsiderationExtensionFees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal Group, Including Discontinued Operation, Consideration, Extension Fees</link:label>
    <link:label id="lab_none_DisposalGroupIncludingDiscontinuedOperationConsiderationExtensionFees_documentation_en-US" xlink:label="lab_none_DisposalGroupIncludingDiscontinuedOperationConsiderationExtensionFees" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disposal Group, Including Discontinued Operation, Consideration, Extension Fees</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_DisposalGroupIncludingDiscontinuedOperationConsiderationExtensionFees" xlink:href="none-20251231.xsd#none_DisposalGroupIncludingDiscontinuedOperationConsiderationExtensionFees"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_DisposalGroupIncludingDiscontinuedOperationConsiderationExtensionFees" xlink:to="lab_none_DisposalGroupIncludingDiscontinuedOperationConsiderationExtensionFees" xlink:type="arc" order="1"/>
    <link:label id="lab_none_TenantReimbursement_fb78ecc7-0d1e-4ec2-896b-3da587530659_terseLabel_en-US" xlink:label="lab_none_TenantReimbursement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenant reimbursements</link:label>
    <link:label id="lab_none_TenantReimbursement_label_en-US" xlink:label="lab_none_TenantReimbursement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tenant Reimbursement</link:label>
    <link:label id="lab_none_TenantReimbursement_documentation_en-US" xlink:label="lab_none_TenantReimbursement" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">In accordance with the provisions of their lease agreement, this element represents allowable charges due a landlord from its tenant. In retail store and office building leases, for example, tenant reimbursements may cover items such as taxes, utilities, and common area expenses.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_TenantReimbursement" xlink:href="none-20251231.xsd#none_TenantReimbursement"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_TenantReimbursement" xlink:to="lab_none_TenantReimbursement" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_605c56d9-306a-47ba-8207-e2fe8003a57f_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net proceeds from sale of real estate investments</link:label>
    <link:label id="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale, Real Estate, Held-for-Investment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment" xlink:to="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TreasuryStockCommonValue_067217ca-d653-453e-abb1-64b84c130771_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockCommonValue" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Treasury stock, at cost, 467,319 shares held as of each June&#160;30, 2025 and December&#160;31, 2024</link:label>
    <link:label id="lab_us-gaap_TreasuryStockCommonValue_label_en-US" xlink:label="lab_us-gaap_TreasuryStockCommonValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Treasury Stock, Common, Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TreasuryStockCommonValue" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_TreasuryStockCommonValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockCommonValue" xlink:to="lab_us-gaap_TreasuryStockCommonValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtIssuanceCostsLineOfCreditArrangementsNet_4de06d6c-2518-4faf-b699-02edec1a529e_terseLabel_en-US" xlink:label="lab_us-gaap_DebtIssuanceCostsLineOfCreditArrangementsNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred financing cost on credit facility revolver</link:label>
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    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_5a48ede0-f16f-48cc-8be7-7fa23d1efe10_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic (in shares)</link:label>
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    <link:label id="lab_us-gaap_RelatedPartyTransactionDomain_fb4f32ab-bab3-4acb-bb08-e394725730e8_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Domain]</link:label>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract_019cd2c2-d94e-73fc-9779-a3247b080bf7_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenant Origination and Absorption Costs And Above-Market Lease Intangibles</link:label>
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    <link:label id="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Expense of Enforcement, Amount</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Expense of Enforcement, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:to="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_4fe2b696-4576-4837-aeb8-220f039bc6e4_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock par value (in usd per share)</link:label>
    <link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_label_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Par or Stated Value Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockParOrStatedValuePerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonStockParOrStatedValuePerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems_fb68dc29-a2dc-4d26-ba6f-377321553ddc_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosures [Line Items]</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosures [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems" xlink:to="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ImpairmentOfRealEstate_58e475ca-5215-40e0-97b7-75236af52067_verboseLabel_en-US" xlink:label="lab_us-gaap_ImpairmentOfRealEstate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Impairment of real estate investment property</link:label>
    <link:label id="lab_us-gaap_ImpairmentOfRealEstate_019c36c3-f60a-7dd7-ae07-c1ea8899ffa2_netLabel_en-US" xlink:label="lab_us-gaap_ImpairmentOfRealEstate" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Impairment of real estate</link:label>
    <link:label id="lab_us-gaap_ImpairmentOfRealEstate_label_en-US" xlink:label="lab_us-gaap_ImpairmentOfRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment of Real Estate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ImpairmentOfRealEstate" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ImpairmentOfRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ImpairmentOfRealEstate" xlink:to="lab_us-gaap_ImpairmentOfRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_f992eca5-3c2c-4142-9ad0-c44d6c492641_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Grants (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:type="arc" order="1"/>
    <link:label id="lab_none_ValtirOrangeburgMember_47ed7079-abf5-4967-89d7-c9832b8e8511_terseLabel_en-US" xlink:label="lab_none_ValtirOrangeburgMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Valtir, Orangeburg</link:label>
    <link:label id="lab_none_ValtirOrangeburgMember_label_en-US" xlink:label="lab_none_ValtirOrangeburgMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Valtir, Orangeburg [Member]</link:label>
    <link:label id="lab_none_ValtirOrangeburgMember_documentation_en-US" xlink:label="lab_none_ValtirOrangeburgMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Valtir, Orangeburg</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_ValtirOrangeburgMember" xlink:href="none-20251231.xsd#none_ValtirOrangeburgMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_ValtirOrangeburgMember" xlink:to="lab_none_ValtirOrangeburgMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_UseOfEstimates_0d542992-1f6f-4556-b9d4-6cb0452680a1_terseLabel_en-US" xlink:label="lab_us-gaap_UseOfEstimates" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Use of Estimates</link:label>
    <link:label id="lab_us-gaap_UseOfEstimates_label_en-US" xlink:label="lab_us-gaap_UseOfEstimates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Use of Estimates, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UseOfEstimates" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_UseOfEstimates"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UseOfEstimates" xlink:to="lab_us-gaap_UseOfEstimates" xlink:type="arc" order="1"/>
    <link:label id="lab_none_SaleOfStockAveragePricePerShare_bc621c45-cef8-4242-97b3-cb1eaa877a48_terseLabel_en-US" xlink:label="lab_none_SaleOfStockAveragePricePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of stock, average price per share (in usd per share)</link:label>
    <link:label id="lab_none_SaleOfStockAveragePricePerShare_label_en-US" xlink:label="lab_none_SaleOfStockAveragePricePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale of Stock, Average Price Per Share</link:label>
    <link:label id="lab_none_SaleOfStockAveragePricePerShare_documentation_en-US" xlink:label="lab_none_SaleOfStockAveragePricePerShare" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sale of Stock, Average Price Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_SaleOfStockAveragePricePerShare" xlink:href="none-20251231.xsd#none_SaleOfStockAveragePricePerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_SaleOfStockAveragePricePerShare" xlink:to="lab_none_SaleOfStockAveragePricePerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventsTextBlock_082a3c10-e768-43ac-8331-6254900076d8_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SUBSEQUENT EVENTS</link:label>
    <link:label id="lab_us-gaap_SubsequentEventsTextBlock_label_en-US" xlink:label="lab_us-gaap_SubsequentEventsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Events [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SubsequentEventsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventsTextBlock" xlink:to="lab_us-gaap_SubsequentEventsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_InsiderTradingArrLineItems_label_en-US" xlink:label="lab_ecd_InsiderTradingArrLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Arrangements [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTradingArrLineItems" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_InsiderTradingArrLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_InsiderTradingArrLineItems" xlink:to="lab_ecd_InsiderTradingArrLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Liabilities_52421fe4-b523-455d-8f6a-4320f42fad67_totalLabel_en-US" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</link:label>
    <link:label id="lab_us-gaap_Liabilities_label_en-US" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_Liabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Liabilities" xlink:to="lab_us-gaap_Liabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAxis_b1c48811-a27f-4fae-aefb-46b623c38e8a_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents [Axis]</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAxis_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CashAndCashEquivalentsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAxis" xlink:to="lab_us-gaap_CashAndCashEquivalentsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PnsnAdjsPrrSvcCstMember_terseLabel_en-US" xlink:label="lab_ecd_PnsnAdjsPrrSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pension Adjustments Prior Service Cost</link:label>
    <link:label id="lab_ecd_PnsnAdjsPrrSvcCstMember_label_en-US" xlink:label="lab_ecd_PnsnAdjsPrrSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pension Adjustments Prior Service Cost [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PnsnAdjsPrrSvcCstMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PnsnAdjsPrrSvcCstMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PnsnAdjsPrrSvcCstMember" xlink:to="lab_ecd_PnsnAdjsPrrSvcCstMember" xlink:type="arc" order="1"/>
    <link:label id="lab_none_NorthropGrummanMember_4aa3afe9-07fc-4d1a-a8af-102d9fb70432_terseLabel_en-US" xlink:label="lab_none_NorthropGrummanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Northrop Grumman</link:label>
    <link:label id="lab_none_NorthropGrummanMember_label_en-US" xlink:label="lab_none_NorthropGrummanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Northrop Grumman [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_NorthropGrummanMember" xlink:href="none-20251231.xsd#none_NorthropGrummanMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_NorthropGrummanMember" xlink:to="lab_none_NorthropGrummanMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MtrlTermsOfTrdArrTextBlock_terseLabel_en-US" xlink:label="lab_ecd_MtrlTermsOfTrdArrTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Material Terms of Trading Arrangement</link:label>
    <link:label id="lab_ecd_MtrlTermsOfTrdArrTextBlock_label_en-US" xlink:label="lab_ecd_MtrlTermsOfTrdArrTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Material Terms of Trading Arrangement [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_MtrlTermsOfTrdArrTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_MtrlTermsOfTrdArrTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_MtrlTermsOfTrdArrTextBlock" xlink:to="lab_ecd_MtrlTermsOfTrdArrTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_none_NumberOfRealEstatePropertiesAcquired_a01712a6-5ce1-4ac8-bec3-2e5373d39d25_terseLabel_en-US" xlink:label="lab_none_NumberOfRealEstatePropertiesAcquired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate properties acquired</link:label>
    <link:label id="lab_none_NumberOfRealEstatePropertiesAcquired_label_en-US" xlink:label="lab_none_NumberOfRealEstatePropertiesAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Real Estate Properties, Acquired</link:label>
    <link:label id="lab_none_NumberOfRealEstatePropertiesAcquired_documentation_en-US" xlink:label="lab_none_NumberOfRealEstatePropertiesAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Real Estate Properties, Acquired</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_NumberOfRealEstatePropertiesAcquired" xlink:href="none-20251231.xsd#none_NumberOfRealEstatePropertiesAcquired"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_NumberOfRealEstatePropertiesAcquired" xlink:to="lab_none_NumberOfRealEstatePropertiesAcquired" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_daa47571-705f-4fd5-8ed1-89a6f3478681_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">ATM offering of common stock, net</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Value, New Issues</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:type="arc" order="1"/>
    <link:label id="lab_none_SaleOfStockMaximumOfferingAmount_2f6fcf21-606a-418f-9591-61e6cc5884ab_terseLabel_en-US" xlink:label="lab_none_SaleOfStockMaximumOfferingAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prospectus supplement, common stock offering</link:label>
    <link:label id="lab_none_SaleOfStockMaximumOfferingAmount_label_en-US" xlink:label="lab_none_SaleOfStockMaximumOfferingAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Of Stock, Maximum Offering Amount</link:label>
    <link:label id="lab_none_SaleOfStockMaximumOfferingAmount_documentation_en-US" xlink:label="lab_none_SaleOfStockMaximumOfferingAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sale Of Stock, Maximum Offering Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_SaleOfStockMaximumOfferingAmount" xlink:href="none-20251231.xsd#none_SaleOfStockMaximumOfferingAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_SaleOfStockMaximumOfferingAmount" xlink:to="lab_none_SaleOfStockMaximumOfferingAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_none_ClassPOPUnitsMember_1fc21f5e-50f0-48f4-8a67-3a8ff8ccfa17_terseLabel_en-US" xlink:label="lab_none_ClassPOPUnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class P OP Units</link:label>
    <link:label id="lab_none_ClassPOPUnitsMember_label_en-US" xlink:label="lab_none_ClassPOPUnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class P OP Units [Member]</link:label>
    <link:label id="lab_none_ClassPOPUnitsMember_documentation_en-US" xlink:label="lab_none_ClassPOPUnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Class P OP Units [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_ClassPOPUnitsMember" xlink:href="none-20251231.xsd#none_ClassPOPUnitsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_ClassPOPUnitsMember" xlink:to="lab_none_ClassPOPUnitsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DistributionTypeDomain_89c3da92-48d6-4e64-8e25-30e01540b8a7_terseLabel_en-US" xlink:label="lab_us-gaap_DistributionTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distribution Type [Domain]</link:label>
    <link:label id="lab_us-gaap_DistributionTypeDomain_label_en-US" xlink:label="lab_us-gaap_DistributionTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distribution Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DistributionTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DistributionTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DistributionTypeDomain" xlink:to="lab_us-gaap_DistributionTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityIncorporationStateCountryCode_47c71aa6-8daa-4f35-82af-de696c183d63_terseLabel_en-US" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityIncorporationStateCountryCode" xlink:to="lab_dei_EntityIncorporationStateCountryCode" xlink:type="arc" order="1"/>
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    <link:label id="lab_none_WSPUSAMember_documentation_en-US" xlink:label="lab_none_WSPUSAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">WSP USA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_none_WSPUSAMember" xlink:href="none-20251231.xsd#none_WSPUSAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_none_WSPUSAMember" xlink:to="lab_none_WSPUSAMember" xlink:type="arc" order="1"/>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuredOvernightFinancingRateSofrMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SecuredOvernightFinancingRateSofrMember"/>
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