Consolidated Balance Sheets - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Real estate:
Land	$ 211,307,000	$ 209,073,000
Buildings and improvements	901,034,000	893,225,000
Real estate investment property, at cost, total	1,112,341,000	1,102,298,000
Less accumulated depreciation	(83,920,000)	(62,243,000)
Real estate, net	1,028,421,000	1,040,055,000
Intangible lease assets, net	60,053,000	68,616,000
RSLCA notes receivable from affiliates	42,007,000	22,251,000
Restricted cash	11,608,000	12,275,000
Cash and cash equivalents	8,096,000	7,053,000
Receivables	9,474,000	8,990,000
Notes receivable from affiliates	6,019,000	6,017,000
Right-of-use asset	4,687,000	4,652,000
Other assets	$ 2,145,000	1,095,000
Due from affiliates		$ 536,000
Other Receivable, after Allowance for Credit Loss, Related Party, Type [Extensible Enumeration]	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
TOTAL ASSETS	$ 1,172,510,000	$ 1,171,540,000
LIABILITIES AND EQUITY
Mortgage loans payable, net	564,189,000	589,962,000
Revolving credit facility	44,000,000
Intangible lease liabilities, net	22,859,000	24,595,000
Accounts payable, accrued expenses and other liabilities	11,353,000	10,083,000
Right-of-use liability	5,133,000	4,977,000
Pending trade deposits	1,700,000	1,386,000
Distributions payable	3,529,000	3,452,000
Due to affiliates	$ 212,000	$ 43,000
Other Liability, Related Party, Type [Extensible Enumeration]	srt:AffiliatedEntityMember	srt:AffiliatedEntityMember
Total liabilities	$ 652,975,000	$ 634,498,000
Commitments and Contingencies
Equity:
Additional paid-in capital	425,348,000	408,358,000
Cumulative distributions in excess of net income	(79,855,000)	(58,448,000)
Accumulated other comprehensive income (loss)	(476,000)	(360,000)
Total shareholders' equity	345,182,000	349,708,000
Noncontrolling interests attributable to operating partnership	174,353,000	187,334,000
Total equity	519,535,000	537,042,000
TOTAL LIABILITIES AND EQUITY	1,172,510,000	1,171,540,000
Class A Common Shares
Equity:
Common Stock	104,000	100,000
Class I Common Shares
Equity:
Common Stock	60,000	58,000
Class ER Common Shares
Equity:
Common Stock	1,000
Class S Common Shares
Equity:
Common Stock