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Investments in Real Estate, net - Schedule of Investment in Real Estate (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Real Estate [Abstract]    
Building and improvements $ 644,575 $ 555,325
Land and land improvements 209,684 165,853
Furniture, fixtures and equipment 10,547 9,056
Total 864,806 730,234
Accumulated depreciation (65,202) (49,638)
Investments in real estate, net $ 799,604 $ 680,596