Investments in Real Estate, net (Tables)

12 Months Ended

Dec. 31, 2025

Real Estate [Abstract]

Schedule of Investments in Real Estate

Investments in real estate, net consisted of the following:

	December 31,
	2025		2024
Buildings	$	3,361,710	$	2,441,729
Land and land improvements	816,973		603,069
Construction in process	86,419		110,728
Furniture, fixtures and equipment	1,374		—
Total	4,266,476		3,155,526
Accumulated depreciation	(257,852)		(159,217)
Investments in real estate, net	$	4,008,624	$	2,996,309