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Risks, Commitments and Contingencies
 12 Months Ended
Dec. 31, 2024
Entity Information [Line Items]  
Risks, Commitments and Contingencies Commitments and Contingencies
The Company is involved in various claims and litigation matters arising in the ordinary course of business, some of which involve claims for damages. Many of these matters are covered by insurance, although they may nevertheless be subject to deductibles or retentions. Although the ultimate liability for these matters cannot be determined, based upon information currently available, the Company believes the ultimate resolution of such claims and litigation will not have a material adverse effect on its financial position, results of operations or liquidity.
During the year ended December 31, 2024, the Company acquired 23 investments related to build-to-suit arrangements with maximum contractual funding obligations of $228,620. During the year ended December 31, 2024, the Company paid and/or accrued $84,481, resulting in a remaining unrecognized contractual obligation amount of $144,139 as of December 31, 2024. During the year ended December 31, 2024, the Company placed one of the assets in service, resulting in 22 remaining investments related to build-to-suit arrangements as of December 31, 2024. Refer to Note 3 - Investments in Real Estate, net for additional discussion. Our estimate of the Company’s total future commitments to complete the construction of the build-to-suit assets is $84,981 as of December 31, 2024.
During the year ended December 31, 2024, the Company made an indirect investment through BOREC Spider Member LLC in CoreWeave JV, which will construct an asset under a build-to-suit arrangement. See Note 4 - Investments in Unconsolidated Real Estate Affiliates for additional discussion.
During the year ended December 31, 2024, the Company, through BOREC Longhorn NLT Aggregator LLC, was admitted as a member to BOREC Longhorn Member LLC, a member of Longhorn JV, LLC, which was formed for the purpose of constructing an asset under a build-to-suit arrangement. As a member of BOREC Longhorn Member LLC, the Company has provided a guarantee to Longhorn JV LLC and to Crusoe Abilene, LLC to fund the construction of the asset. As of December 31, 2024, the maximum contractual funding obligation is $321,676, and the Company’s estimate of its future commitments to complete the construction of the build-to-suit asset is $303,960, which would be treated as a contribution to BOREC Longhorn Member LLC. As of December 31, 2024, the Company has not funded any capital to the joint venture.
Oak Street Real Estate Capital Fund IV and V Acquired Predecessor Portfolio  
Entity Information [Line Items]  
Risks, Commitments and Contingencies Risks, Commitments and Contingencies
Concentration of Credit Risk – The Predecessor is subject to risks incident to the ownership and sale of real estate properties. These include, among others, the risks normally associated with changes in the general economic climate, trends in the real estate industry, availability of real estate properties to acquire, changes in tax laws, availability of financing and potential liability under environmental and other laws.
In addition, the Predecessor has accounts receivable and deferred rents receivable that subject the Predecessor to credit risk. Management performs ongoing credit evaluations of the Predecessor’s tenants for potential credit losses.
Debt – The Predecessor has entered into debt agreements with a third party-lender, which are collateralized by the properties and is subject to debt covenants. As of December 31, 2021 and the date of Acquisition the Predecessor was in compliance with its debt covenants.
Environmental – As an owner of real estate, the Predecessor is subject to various environmental laws of federal, state and local governments. Compliance with existing environmental laws has not had a material impact on the Predecessor Statements, and management does not believe it will have such an impact in the future. However, management cannot predict the impact of unforeseen environmental contingencies or new or changed laws or regulations on the properties within the Predecessor, properties that have been sold, or on properties that may be acquired in the future.
Litigation – The Predecessor is presently not subject to material litigation nor, to management’s knowledge, is there any material litigation threatened against the Predecessor.
Guarantees – In the normal course of business, management guarantees the performance of services or indemnifies third parties against management’s negligence.