Borrowings - Narrative (Details) - USD ($)		3 Months Ended		6 Months Ended
	Jul. 25, 2025	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024	Dec. 31, 2024
Line of Credit Facility [Line Items]
Financing obligation, net		$ 53,997,000		$ 53,997,000		$ 53,991,000
Tempe Student Housing
Line of Credit Facility [Line Items]
Financing obligation, net		54,000,000.0		54,000,000.0
Revolving credit facility | Line of Credit
Line of Credit Facility [Line Items]
Current borrowing capacity		100,000,000.0		100,000,000.0
Maximum borrowing capacity		150,000,000.0		$ 150,000,000.0
Unused commitment fee				0.25%
Principal balance		0		$ 0		$ 0
Revolving credit facility		$ 70,000,000.0		$ 70,000,000.0
Revolving credit facility | Line of Credit | Subsequent Events
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 250,000,000.0
Revolving credit facility | Line of Credit | Subsequent Events | Line Of Credit, Unused Capacity, Threshold, One
Line of Credit Facility [Line Items]
Unused commitment fee	0.25%
Line of credit, usage, threshold	50.00%
Revolving credit facility | Line of Credit | Subsequent Events | Line Of Credit, Unused Capacity, Threshold, Two
Line of Credit Facility [Line Items]
Unused commitment fee	0.15%
Line of credit, usage, threshold	50.00%
Revolving credit facility | Line of Credit | Weighted average
Line of Credit Facility [Line Items]
Debt instrument, interest rate during period		6.12%	7.12%	6.12%	7.11%
Revolving credit facility | Line of Credit | Federal funds rate
Line of Credit Facility [Line Items]
Variable interest rate				0.50%
Revolving credit facility | Line of Credit | SOFR
Line of Credit Facility [Line Items]
Variable interest rate				1.00%