Subsequent Events

12 Months Ended

Dec. 31, 2025

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

In preparation of the accompanying Consolidated Financial Statements, the Company has evaluated events and transactions that occurred after December 31, 2025 for recognition or disclosure purposes. Based on this evaluation, we identified the following subsequent events, from December 31, 2025 through the date the financial statements were issued.

Proceeds from the Issuance of Common Shares

From January 1, 2026, through the date the financial statements were issued, the Company sold an aggregate of 70,030,254 common shares (consisting of 28,911,384 Class S shares, 5,906,298 Class N shares, 826,777 Class D shares, and 34,385,795 Class I shares) resulting in net proceeds of $737,288 to the Company as payment for such shares.

Repurchases

From January 1, 2026, through the date the financial statements were issued, the Company repurchased 12,609,871 shares of common shares for a total of $133,433. The Company did not repurchase any OP Units from January 1, 2026 through the date the financial statements were issued. The Company had no unfulfilled repurchase requests for the period from January 1, 2026, through the date the financial statements were issued.

Distributions

On January 23, 2026, the Company declared an increase to its gross distribution rate from $0.7000 to $0.7500 per share per year for each class of its common shares for shareholders of record following the close of business on January 31, 2026.