Financial Highlights (Tables)

9 Months Ended

Sep. 30, 2024

The following is a schedule of financial highlights for the period from March 11, 2024 (date of inception) to September 30, 2024:


	For the period from March 11, 2024 (date of inception) to September 30, 2024
Per share data:
Net asset value, beginning of period	$	—
Net investment income(5)	1.13
Net change in unrealized gain on investments(5)	1.13
Net realized gain on sale of real estate securities(5)	0.01
Net increase in net assets resulting from operations(5)	2.27
Issuance of Common Shares	25.00
Net increase in net assets	27.27
Other(1)	(0.77)
Net asset value, end of period	$	26.50
Shares outstanding at end of period	10,797,864
Total return(2)	5.99		%
Ratio/Supplemental data attributable to Common Shares:
Total net assets attributable to Common Shares, end of period	286,117

Ratio of net investment income to average net assets attributable to Common Shares(3)(4)	6.17		%
Ratio of total expenses to average net assets attributable to Common Shares(3)(4)	6.76		%
Ratio of net expenses to average net assets attributable to Common Shares(3)(4)	2.44		%

(1) Represents the impact of calculating certain per share amounts based on weighted average Common Shares outstanding during the period and certain per share amounts based on Common Shares outstanding as of period end.

(2) Total return is calculated as the change in NAV per share during the period, plus distributions per share, if any, divided by the NAV per share at the beginning of the period. Total return is for the period indicated and has not been annualized.

(3) Ratios are annualized for the period, except for organizational costs.

(4) Average net assets are computed by taking the average of our end of quarter net assets for each quarter in the reporting period.

(5) The per share data was derived by using the weighted average shares outstanding during the period.