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Investments in Real Estate (Tables)
12 Months Ended
Dec. 31, 2025
Real Estate [Abstract]  
Schedule of Acquired Properties The Company accounted for the transaction as an asset acquisition and allocated the purchase price to the acquired tangible and intangible assets and liabilities based on their relative fair values at the acquisition date.

 



Zaxby's

 

 

Dollar General

 

 

Tractor Supply

 

 

Total

 

Land

$

1,484,739

 

 

$

233,589

 



$

1,820,313

 

 

$

3,538,641

 

Building and site improvements

 

2,501,065

 

 

 

1,598,838

 

 

 

2,562,420

 

 

 

6,662,323

 

Tenant improvements

 

105,680

 

 

 

69,517

 

 

 

135,064

 

 

 

310,261

 

Acquired lease intangible assets

 

372,043

 

 

 

174,660

 

 

 

531,883

 

 

 

1,078,586

 

Total real estate investments

$

4,463,527

 

 

$

2,076,604

 

 

$

5,049,680

 

 

$

11,589,811

 

Less: Acquired lease intangible liabilities

 

(175,974

)

 

 

(17,024

)

 

 

(350,271

)

 

 

(543,269

)

Total real estate investments, net

$

4,287,553

 

 

$

2,059,580

 

 

$

4,699,409

 

 

$

11,046,542

 

Future minimum rent reflected in the table below, accordingly.

 

 

 

 

Best Buy

 

Land

 

 

 

$

2,032,016

 

Building and site improvements

 

 

 

 

2,811,317

 

Acquired tenant improvements

 

 

 

 

308,715

 

Acquired lease intangibles assets

 

 

 

 

574,710

 

Total real estate investments

 

 

 

$

5,726,758

 

Schedule of Dispositions of Properties

The following table summarizes the Company’s real estate dispositions during 2025:

 

Property / Tenant

Location

Disposition Date

 

Sales Price

 

Starbucks

Tampa, Florida

May 29, 2025

 

$

3,450,000

 

Former Pratt & Whitney Automation

Huntsville, Alabama

May 29, 2025

 

$

7,200,000

 

Former Irby Construction

Plant City, Florida

October 30, 2025

 

$

1,950,000

 

Best Buy

Grand Junction, Colorado

December 5, 2025

 

$

4,972,704

 

exp U.S. Services

Maitland, Florida

December 15, 2025

 

$

6,702,000