Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
ASSETS
Investments in real estate, net	$ 197,868	$ 199,429
Investment in real estate debt	16,825	16,825
Investments in real estate-related and other securities	6,542	1,842
Intangible assets, net	1,608	3,767
Cash and cash equivalents	12,825	5,660
Restricted cash	191	128
Deposits on real estate	8,548	5,494
Other assets, net	1,310	1,167
Total assets	245,717	234,312
LIABILITIES AND EQUITY
Credit facility		40,200
Mortgage notes, net	113,666	113,760
Intangible liabilities, net	1,743	1,800
Mandatorily redeemable Class E units	49,513	45,784
Due to affiliate	12,922	9,970
Subscriptions received in advance	4,129
Accounts payable accrued expenses and other liabilities current and non current	2,414	4,852
Total liabilities	184,387	216,366
Commitments and Contingencies (Note 16)
Equity
Preferred stock- $0.01 par value per share, 100,000 shares authorized, 0 issued and outstanding as of June 30, 2023 and December 31, 2022 respectively
Additional paid-in-capital	73,045	19,427
Accumulated deficit	(13,973)	(3,814)
Total stockholders' equity	59,148	15,638
Non-controlling interests in consolidated joint ventures	2,182	2,308
Total equity	61,330	17,946
Total liabilities and equity	245,717	234,312
Class D Shares
Equity
Common stock	2
Class I Shares
Equity
Common stock	30	1
Class S Shares
Equity
Common stock
Class T Shares
Equity
Common stock
Class E Shares
Equity
Common stock	$ 44	$ 24