Loans at Fair Value (Tables)

3 Months Ended

Mar. 31, 2025

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

Summary of Loans Held at Fair Value

The following table summarizes the Company's loan held at fair value as of March 31, 2025.

Loan	Location(s)	Maturity Date	Principal Balance		Amortized Cost		Fair Value		Interest Rate	Periodic Payment
39	Minnesota	6/26/2026	$	5,500,000	$	5,500,000	$	5,335,000	10.5% Cash	I/O
		Subtotal	$	5,500,000	$	5,500,000	$	5,335,000

Summary of Significant Unobservable Inputs Used to Value Loans Categorized within Level 3

The following tables summarize the significant unobservable inputs the Company used to value the loans categorized within Level 3 as of March 31, 2025. The tables are not intended to be all-inclusive, but instead capture the significant unobservable inputs relevant to the Company’s determination of fair values.

	As of March 31, 2025
				Unobservable Input
	Fair Value		Primary Valuation Technique	Input	Value
Loans, at fair value - related party	$	5,335,000	Yield analysis	Discount rate		13.94	%
Total loans, at fair value	$	5,335,000