DST Program (Tables)

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

Schedule of DST Program Activity

The following table provides details on the Company’s DST Program activity for the three months ended March 31, 2026:

	Three Months Ended
	March 31, 2026		March 31, 2025
Net proceeds from DST Interests sold (1)	$	211,065	$	39,917
Master lease payments (2)	$	9,394	$	1,303
Distributions from the Company’s DST Interests	$	3,059	$	525

(1)     Proceeds from DST Interests sold for the three months ended March 31, 2026 and 2025 are net of total upfront fees at closing of $4,276 and $778, of which the Company earned $2,924 and $448, respectively. The upfront fees earned at closing by the Company are included within Other expense, net on the Condensed Consolidated Statements of Operations.

(2)    We account for payments made to the DSTs under the master leases as a reduction of our financial obligations prior to remeasuring the fair value.