CONSOLIDATED STATEMENT OF CASH FLOWS $ in Thousands	7 Months Ended
	Sep. 30, 2024 USD ($)
Operating activities:
Net increase in net assets from operations	$ 11,116
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used for) operating activities:
Origination of loans	(508,992)
Loan origination fees collected	5,595
Net (accretion) on investments	(286)
Purchases of real estate securities	(35,000)
Net change in unrealized appreciation on investments	286
Discounts on real estate securities	88
Sales of real estate securities	21,119
Net realized gain on sale of real estate securities	(47)
Net change in unrealized appreciation on investments	(5,522)
(Increase) decrease in operating assets:
Interest and fees receivable	(1,383)
Due from advisor	(2,932)
Increase (decrease) in operating liabilities:
Accrued administration fee	1,045
Accrued organizational costs	585
Interest payable	652
Directors' fees payable	79
Other payable	1,448
Net cash provided by (used in) operating activities	(512,435)
Financing activities:
Payments of financing costs	(769)
Proceeds on repurchase agreements	248,295
Proceeds from issuance of common shares	275,001
Net cash provided by (used in) financing activities	522,527
Net increase (decrease) in cash	10,092
Cash, beginning of period	0
Cash, end of period	10,092
Supplemental disclosures of non - cash flow information:
Accrued offering costs net of related advisor reimbursement	$ 335