Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (5,222)	$ (9,079)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	4,298	4,370
Amortization of above-market lease	150
Amortization of below-market lease	(70)	(59)
Amortization of deferred financing costs	183	404
Stock based compensation	50	50
Realized loss on sale of real estate related and other securities and derivative instruments	388
Unrealized loss on real estate-related and other securities and derivative instruments	490	180
Redemption value adjustment on mandatorily redeemable instruments	1,419	3,729
Change in assets and liabilities:
Increase in other assets	(1,160)	(388)
Increase in due to affiliates	1,576	2,387
Decrease in accounts payable, accrued expenses and other liabilities	(802)	(1,960)
Net cash provided by (used in) operating activities	1,300	(366)
Cash flows from investing activities:
Acquisitions of real estate	(64,939)	(676)
Capital Improvements on real estate	(580)	(601)
Deposits on real estate acquisition		(3,054)
Variation margin payments	(730)
Proceeds from real estate-related and other securities	420	43
Purchases of real-estate related and other securities	(413)	(4,923)
Net cash used in investing activities	(66,242)	(9,211)
Cash flows from financing activities:
Proceeds from issuance of common stock, net of offering costs paid	51,780	53,982
Repurchase of common stock	(229)
Contributions from non-controlling interests	10	32
Distributions paid on common stock	(2,259)	(807)
Distributions to non-controlling interests	(9)	(79)
Repayments of credit facility		(40,200)
Proceeds from subscriptions received in advance		4,129
Proceeds from mortgage notes	10,000
Principal repayments of mortgage notes	(252)	(245)
Payment of deferred financing costs on mortgage notes	(140)	(7)
Net cash provided by financing activities	58,901	16,805
Net change in cash, cash equivalents and restricted cash:	(6,041)	7,228
Cash, cash equivalents and restricted cash, at the beginning of the period	32,683	5,788
Cash, cash equivalents and restricted cash, at the end of the period	26,642	13,016
Reconciliation of cash, cash equivalents and restricted cash to the Consolidated Balance Sheets:
Cash and cash equivalents	26,381	12,825
Restricted cash	261	191
Total cash, cash equivalents and restricted cash	26,642	13,016
Supplemental disclosure of cash flow information:
Cash paid for interest	3,151	3,721
Supplemental disclosure of non-cash investing and financing activities:
Deposit interest applied in conjunction with acquisition of real estate	120
Accrued loan and offering costs due to affiliate	973	526
Accrued distributions	176	189
Distribution re-investments	996	164
Accrued acquisition costs	100	$ 29
Accrued capex	129
Reclassification of deposits on real estate to investments in real estate, net	7,258
Accrued stockholder servicing fee due to affiliate	688
Non-controlling interest deemed contributions to investment in real estate, net	2,422
Assumption of other assets and liabilities in conjunction with acquisition of real estate	$ 105