Subsequent Events

9 Months Ended

Sep. 30, 2025

Subsequent Events [Abstract]

Subsequent Events

Note 13. Subsequent Events

Issuance of Preferred Units of Our Operating Partnership

On October 28, 2025, our Operating Partnership issued 120,000 Series D Preferred Units to the Preferred Investor in exchange for $3.0 million pursuant to the Preferred Unit Purchase Agreement.

Offering Status

As of November 6, 2025, in connection with our offerings we have issued approximately 11.7 million Class P shares for gross offering proceeds of approximately $111.3 million, approximately 3.2 million Class A shares for gross offering proceeds of approximately $32.6 million, approximately 5.2 million Class T shares for gross offering proceeds of approximately $51.4 million, approximately 0.7 million Class W shares for gross offering proceeds of approximately $6.8 million, approximately 5.4 million Class Y shares for gross offering proceeds of approximately $52.4 million and approximately 0.6 million Class Z shares for gross offering proceeds of approximately $5.6 million.