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Investments in Real Estate - Schedule of Investments in Real Estate, Net (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Real Estate [Abstract]    
Building and building improvements $ 849,647 $ 844,419
Land and land improvements 345,290 345,103
Furniture, fixtures and equipment 8,380 8,355
Total 1,203,317 1,197,877
Accumulated depreciation (47,979) (38,245)
Investments in real estate, net $ 1,155,338 $ 1,159,632