Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands		Jun. 30, 2023	Dec. 31, 2022
Assets
Investments in real estate, net		$ 42,192
Investments in real estate debt, at fair value		141,416
Cash and cash equivalents		116,893	$ 131,589
Other assets		10,700	5,000
Total assets	[1]	311,201	136,589
Liabilities and Equity
Due to affiliates		12,182	8,298
Other liabilities		1,201
Total liabilities	[1]	13,383	8,298
Commitments and contingencies (See Note 13)
Equity
Common stock, $0.01 par value per share (See Note 12 - Equity)		102	18
Additional paid-in capital		199,208	31,367
Accumulated deficit		(392)	(815)
Total stockholders equity		198,918	30,570
Non-controlling interest attributable to ARIS OP unitholders		98,900	97,721
Total equity		297,818	128,291
Total liabilities and equity		$ 311,201	$ 136,589

[1] Represents the consolidated assets and liabilities of ARIS Operating Partnership LP, a Delaware limited partnership (the "Operating Partnership"). The Operating Partnership is a consolidated variable interest entity ("VIE"), of which the Company is the sole general partner and owns approximately 67% as of June 30, 2023. See "Note 2 - Summary of Significant Accounting Policies" for additional information.