Accounts Payable, Accrued Expenses and Other Liabilities (Tables)

9 Months Ended

Sep. 30, 2025

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Accrued Expenses and Other Liabilities

The following table summarizes the components of accounts payable, accrued expenses and other liabilities:

in thousands	September 30, 2025		December 31, 2024
Intangible liabilities, net	$	5,355	$	5,797
Accounts payable and accrued expenses	3,956		1,382
Real estate taxes payable	3,676		3,066
Tenant security deposits	2,064		1,651
Subscriptions received in advance(1)	1,740		835
Common stock repurchases	1,046		1,308
Accrued interest expense	910		1,300
Distributions payable	673		633
Derivative instruments	493		—
Prepaid rental income	361		86
Total	$	20,274	$	16,058

(1)Represents subscriptions received by our transfer agent prior to the date the subscriptions are effective.