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Investments in Real Estate, net - Schedule of Investment in Real Estate (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Real Estate [Abstract]    
Building and improvements $ 555,426 $ 555,325
Land and land improvements 165,870 165,853
Furniture, fixtures and equipment 9,300 9,056
Total 730,596 730,234
Accumulated depreciation (54,716) (49,638)
Investments in real estate, net $ 675,880 $ 680,596